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important information about Invesco SteelPath MLP Alpha Fund (the “Fund”) for the period December 1, 2025 to May 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246. invesco.com/reports (800) 959-4246 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div> <div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 10pt;"> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco SteelPath MLP Alpha Fund<br/>(Class A)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>502</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">9.35<span>%</span></td> </tr> </table> <table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> </div> 502 0.0935 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>1,137,776,540</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">22</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">0<span>%</span></td> </tr> </table> 1137776540 22 0 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">12.32<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">11.92<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">9.89<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">9.29<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.28<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Hess Midstream L.P., Class A</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.28<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.10<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.81<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.52<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Sector allocation </b> <br/><b>(% of net assets)</b></div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10144545.jpg" style="width: 172.8pt;"/> </div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">12.32<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">11.92<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">9.89<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">9.29<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.28<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Hess Midstream L.P., Class A</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.28<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.10<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.81<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.52<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> 0.1232 0.1192 0.1042 0.0989 0.0929 0.0728 0.0528 0.0510 0.0381 0.0352 Invesco SteelPath MLP Alpha Fund Class C MLPGX This semi-annual shareholder report contains important information about Invesco SteelPath MLP Alpha Fund (the “Fund”) for the period December 1, 2025 to May 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246. invesco.com/reports (800) 959-4246 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div> <div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 10pt;"> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco SteelPath MLP Alpha Fund<br/>(Class C)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>542</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">10.10<span>%</span></td> </tr> </table> <table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> </div> 542 0.1010 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>1,137,776,540</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">22</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">0<span>%</span></td> </tr> </table> 1137776540 22 0 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">12.32<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">11.92<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">9.89<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">9.29<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.28<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Hess Midstream L.P., Class A</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.28<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.10<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.81<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.52<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Sector allocation </b> <br/><b>(% of net assets)</b></div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10144581.jpg" style="width: 172.8pt;"/> </div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">12.32<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">11.92<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">9.89<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">9.29<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.28<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Hess Midstream L.P., Class A</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.28<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.10<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.81<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.52<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> 0.1232 0.1192 0.1042 0.0989 0.0929 0.0728 0.0528 0.0510 0.0381 0.0352 Invesco SteelPath MLP Alpha Fund Class R SPMGX This semi-annual shareholder report contains important information about Invesco SteelPath MLP Alpha Fund (the “Fund”) for the period December 1, 2025 to May 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246. invesco.com/reports (800) 959-4246 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div> <div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco SteelPath MLP Alpha Fund<br/>(Class R)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>516</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">9.60<span>%</span></td> </tr> </table> <table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 516 0.0960 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>1,137,776,540</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">22</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">0<span>%</span></td> </tr> </table> 1137776540 22 0 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">12.32<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">11.92<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">9.89<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">9.29<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.28<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Hess Midstream L.P., Class A</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.28<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.10<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.81<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.52<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Sector allocation </b> <br/><b>(% of net assets)</b></div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10144617.jpg" style="width: 172.8pt;"/> </div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">12.32<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">11.92<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">9.89<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">9.29<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.28<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Hess Midstream L.P., Class A</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.28<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.10<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.81<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.52<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> 0.1232 0.1192 0.1042 0.0989 0.0929 0.0728 0.0528 0.0510 0.0381 0.0352 Invesco SteelPath MLP Alpha Fund Class Y MLPOX This semi-annual shareholder report contains important information about Invesco SteelPath MLP Alpha Fund (the “Fund”) for the period December 1, 2025 to May 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246. invesco.com/reports (800) 959-4246 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div> <div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco SteelPath MLP Alpha Fund<br/>(Class Y)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>489</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">9.10<span>%</span></td> </tr> </table> <table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 489 0.0910 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>1,137,776,540</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">22</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">0<span>%</span></td> </tr> </table> 1137776540 22 0 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">12.32<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">11.92<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">9.89<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">9.29<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.28<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Hess Midstream L.P., Class A</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.28<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.10<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.81<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.52<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Sector allocation </b> <br/><b>(% of net assets)</b></div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10144725.jpg" style="width: 172.8pt;"/> </div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">12.32<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">11.92<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">9.89<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">9.29<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.28<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Hess Midstream L.P., Class A</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.28<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.10<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.81<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.52<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> 0.1232 0.1192 0.1042 0.0989 0.0929 0.0728 0.0528 0.0510 0.0381 0.0352 Invesco SteelPath MLP Alpha Fund Class R5 SPMHX This semi-annual shareholder report contains important information about Invesco SteelPath MLP Alpha Fund (the “Fund”) for the period December 1, 2025 to May 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246. invesco.com/reports (800) 959-4246 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div> <div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco SteelPath MLP Alpha Fund<br/>(Class R5)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>485</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">9.02<span>%</span></td> </tr> </table> <table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 485 0.0902 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>1,137,776,540</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">22</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">0<span>%</span></td> </tr> </table> 1137776540 22 0 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">12.32<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">11.92<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">9.89<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">9.29<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.28<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Hess Midstream L.P., Class A</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.28<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.10<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.81<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.52<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Sector allocation </b> <br/><b>(% of net assets)</b></div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10144653.jpg" style="width: 172.8pt;"/> </div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">12.32<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">11.92<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">9.89<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">9.29<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.28<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Hess Midstream L.P., Class A</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.28<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.10<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.81<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.52<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> 0.1232 0.1192 0.1042 0.0989 0.0929 0.0728 0.0528 0.0510 0.0381 0.0352 Invesco SteelPath MLP Alpha Fund Class R6 OSPAX This semi-annual shareholder report contains important information about Invesco SteelPath MLP Alpha Fund (the “Fund”) for the period December 1, 2025 to May 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246. invesco.com/reports (800) 959-4246 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div> <div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco SteelPath MLP Alpha Fund<br/>(Class R6)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>485</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">9.02<span>%</span></td> </tr> </table> <table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 485 0.0902 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>1,137,776,540</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">22</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">0<span>%</span></td> </tr> </table> 1137776540 22 0 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">12.32<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">11.92<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">9.89<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">9.29<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.28<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Hess Midstream L.P., Class A</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.28<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.10<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.81<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.52<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Sector allocation </b> <br/><b>(% of net assets)</b></div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10144689.jpg" style="width: 172.8pt;"/> </div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">12.32<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">11.92<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">9.89<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">9.29<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.28<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Hess Midstream L.P., Class A</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.28<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.10<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.81<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.52<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> 0.1232 0.1192 0.1042 0.0989 0.0929 0.0728 0.0528 0.0510 0.0381 0.0352 Invesco SteelPath MLP Alpha Plus Fund Class A MLPLX This semi-annual shareholder report contains important information about Invesco SteelPath MLP Alpha Plus Fund (the “Fund”) for the period December 1, 2025 to May 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246. invesco.com/reports (800) 959-4246 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div> <div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco SteelPath MLP Alpha Plus Fund<br/>(Class A)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>777</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">14.05<span>%</span></td> </tr> </table> <table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 777 0.1405 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>328,348,387</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">20</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">6<span>%</span></td> </tr> </table> 328348387 20 0.06 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">17.34<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">16.94<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.74<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.97<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.33<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Hess Midstream L.P., Class A</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.46<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.32<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.07<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Sector allocation </b> <br/><b>(% of total investments)</b></div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10144286.jpg" style="width: 172.8pt;"/> </div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">17.34<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">16.94<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.74<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.97<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.33<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Hess Midstream L.P., Class A</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.46<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.32<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.07<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> 0.1734 0.1694 0.1474 0.1397 0.1333 0.1031 0.0746 0.0720 0.0532 0.0507 Invesco SteelPath MLP Alpha Plus Fund Class C MLPMX This semi-annual shareholder report contains important information about Invesco SteelPath MLP Alpha Plus Fund (the “Fund”) for the period December 1, 2025 to May 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246. invesco.com/reports (800) 959-4246 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div> <div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco SteelPath MLP Alpha Plus Fund<br/>(Class C)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>817</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">14.80<span>%</span></td> </tr> </table> <table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 817 0.1480 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>328,348,387</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">20</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">6<span>%</span></td> </tr> </table> 328348387 20 0.06 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">17.34<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">16.94<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.74<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.97<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.33<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Hess Midstream L.P., Class A</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.46<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.32<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.07<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Sector allocation </b> <br/><b>(% of total investments)</b></div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10144365.jpg" style="width: 172.8pt;"/> </div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">17.34<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">16.94<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.74<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.97<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.33<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Hess Midstream L.P., Class A</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.46<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.32<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.07<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> 0.1734 0.1694 0.1474 0.1397 0.1333 0.1031 0.0746 0.0720 0.0532 0.0507 Invesco SteelPath MLP Alpha Plus Fund Class R SPMJX This semi-annual shareholder report contains important information about Invesco SteelPath MLP Alpha Plus Fund (the “Fund”) for the period December 1, 2025 to May 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246. invesco.com/reports (800) 959-4246 <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid;"> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 10pt;"> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid;"> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div> <div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div> </div> </div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 10pt;"> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco SteelPath MLP Alpha Plus Fund<br/>(Class R)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>791</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">14.30<span>%</span></td> </tr> </table> <table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> </div> </div> 791 0.1430 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>328,348,387</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">20</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">6<span>%</span></td> </tr> </table> 328348387 20 0.06 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">17.34<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">16.94<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.74<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.97<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.33<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Hess Midstream L.P., Class A</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.46<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.32<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.07<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Sector allocation </b> <br/><b>(% of total investments)</b></div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10144401.jpg" style="width: 172.8pt;"/> </div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">17.34<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">16.94<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.74<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.97<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.33<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Hess Midstream L.P., Class A</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.46<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.32<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.07<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> 0.1734 0.1694 0.1474 0.1397 0.1333 0.1031 0.0746 0.0720 0.0532 0.0507 Invesco SteelPath MLP Alpha Plus Fund Class Y MLPNX This semi-annual shareholder report contains important information about Invesco SteelPath MLP Alpha Plus Fund (the “Fund”) for the period December 1, 2025 to May 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246. invesco.com/reports (800) 959-4246 <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid;"> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 10pt;"> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid;"> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div> <div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div> </div> </div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 10pt;"> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco SteelPath MLP Alpha Plus Fund<br/>(Class Y)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>764</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">13.80<span>%</span></td> </tr> </table> <table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> </div> </div> 764 0.1380 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>328,348,387</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">20</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">6<span>%</span></td> </tr> </table> 328348387 20 0.06 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">17.34<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">16.94<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.74<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.97<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.33<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Hess Midstream L.P., Class A</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.46<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.32<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.07<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Sector allocation </b> <br/><b>(% of total investments)</b></div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10144509.jpg" style="width: 172.8pt;"/> </div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">17.34<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">16.94<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.74<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.97<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.33<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Hess Midstream L.P., Class A</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.46<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.32<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.07<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> 0.1734 0.1694 0.1474 0.1397 0.1333 0.1031 0.0746 0.0720 0.0532 0.0507 Invesco SteelPath MLP Alpha Plus Fund Class R5 SPMPX This semi-annual shareholder report contains important information about Invesco SteelPath MLP Alpha Plus Fund (the “Fund”) for the period December 1, 2025 to May 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246. invesco.com/reports (800) 959-4246 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div> <div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco SteelPath MLP Alpha Plus Fund<br/>(Class R5)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>761</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">13.74<span>%</span></td> </tr> </table> <table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 761 0.1374 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>328,348,387</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">20</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">6<span>%</span></td> </tr> </table> 328348387 20 0.06 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">17.34<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">16.94<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.74<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.97<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.33<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Hess Midstream L.P., Class A</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.46<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.32<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.07<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Sector allocation </b> <br/><b>(% of total investments)</b></div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10144437.jpg" style="width: 172.8pt;"/> </div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">17.34<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">16.94<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.74<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.97<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.33<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Hess Midstream L.P., Class A</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.46<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.32<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.07<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> 0.1734 0.1694 0.1474 0.1397 0.1333 0.1031 0.0746 0.0720 0.0532 0.0507 Invesco SteelPath MLP Alpha Plus Fund Class R6 OSPPX This semi-annual shareholder report contains important information about Invesco SteelPath MLP Alpha Plus Fund (the “Fund”) for the period December 1, 2025 to May 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246. invesco.com/reports (800) 959-4246 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div> <div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco SteelPath MLP Alpha Plus Fund<br/>(Class R6)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>761</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">13.74<span>%</span></td> </tr> </table> <table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 761 0.1374 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>328,348,387</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">20</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">6<span>%</span></td> </tr> </table> 328348387 20 0.06 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">17.34<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">16.94<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.74<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.97<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.33<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Hess Midstream L.P., Class A</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.46<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.32<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.07<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Sector allocation </b> <br/><b>(% of total investments)</b></div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10144473.jpg" style="width: 172.8pt;"/> </div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">17.34<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">16.94<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.74<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.97<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.33<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Hess Midstream L.P., Class A</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.46<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.32<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.07<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> 0.1734 0.1694 0.1474 0.1397 0.1333 0.1031 0.0746 0.0720 0.0532 0.0507 Invesco SteelPath MLP Income Fund Class A MLPDX This semi-annual shareholder report contains important information about Invesco SteelPath MLP Income Fund (the “Fund”) for the period December 1, 2025 to May 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246. invesco.com/reports (800) 959-4246 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div> <div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco SteelPath MLP Income Fund<br/>(Class A)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>526</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">9.76<span>%</span></td> </tr> </table> <table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 526 0.0976 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>4,450,274,193</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">29</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">1<span>%</span></td> </tr> </table> 4450274193 29 0.01 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">15.29<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.99<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.91<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.88<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.88<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">8.54<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">USA Compression Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.66<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Antero Midstream Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.61<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NGL Energy Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.77<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kodiak Gas Services, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Sector allocation </b> <br/><b>(% of total investments)</b></div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10144761.jpg" style="width: 172.8pt;"/> </div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">15.29<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.99<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.91<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.88<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.88<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">8.54<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">USA Compression Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.66<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Antero Midstream Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.61<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NGL Energy Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.77<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kodiak Gas Services, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> 0.1529 0.1499 0.1491 0.1388 0.1088 0.0854 0.0566 0.0561 0.0477 0.0355 Invesco SteelPath MLP Income Fund Class C MLPRX This semi-annual shareholder report contains important information about Invesco SteelPath MLP Income Fund (the “Fund”) for the period December 1, 2025 to May 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246. invesco.com/reports (800) 959-4246 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div> <div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco SteelPath MLP Income Fund<br/>(Class C)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>565</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">10.51<span>%</span></td> </tr> </table> <table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 565 0.1051 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>4,450,274,193</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">29</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">1<span>%</span></td> </tr> </table> 4450274193 29 0.01 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">15.29<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.99<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.91<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.88<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.88<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">8.54<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">USA Compression Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.66<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Antero Midstream Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.61<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NGL Energy Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.77<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kodiak Gas Services, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Sector allocation </b> <br/><b>(% of total investments)</b></div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10144797.jpg" style="width: 172.8pt;"/> </div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">15.29<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.99<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.91<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.88<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.88<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">8.54<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">USA Compression Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.66<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Antero Midstream Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.61<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NGL Energy Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.77<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kodiak Gas Services, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> 0.1529 0.1499 0.1491 0.1388 0.1088 0.0854 0.0566 0.0561 0.0477 0.0355 Invesco SteelPath MLP Income Fund Class R SPNNX This semi-annual shareholder report contains important information about Invesco SteelPath MLP Income Fund (the “Fund”) for the period December 1, 2025 to May 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246. invesco.com/reports (800) 959-4246 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div> <div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 10pt;"> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco SteelPath MLP Income Fund<br/>(Class R)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>539</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">10.01<span>%</span></td> </tr> </table> <table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> </div> 539 0.1001 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>4,450,274,193</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">29</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">1<span>%</span></td> </tr> </table> 4450274193 29 0.01 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">15.29<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.99<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.91<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.88<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.88<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">8.54<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">USA Compression Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.66<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Antero Midstream Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.61<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NGL Energy Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.77<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kodiak Gas Services, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Sector allocation </b> <br/><b>(% of total investments)</b></div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10144833.jpg" style="width: 172.8pt;"/> </div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">15.29<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.99<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.91<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.88<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.88<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">8.54<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">USA Compression Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.66<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Antero Midstream Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.61<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NGL Energy Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.77<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kodiak Gas Services, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> 0.1529 0.1499 0.1491 0.1388 0.1088 0.0854 0.0566 0.0561 0.0477 0.0355 Invesco SteelPath MLP Income Fund Class Y MLPZX This semi-annual shareholder report contains important information about Invesco SteelPath MLP Income Fund (the “Fund”) for the period December 1, 2025 to May 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246. invesco.com/reports (800) 959-4246 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div> <div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 10pt;"> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco SteelPath MLP Income Fund<br/>(Class Y)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>513</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">9.51<span>%</span></td> </tr> </table> <table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> </div> 513 0.0951 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>4,450,274,193</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">29</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">1<span>%</span></td> </tr> </table> 4450274193 29 0.01 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">15.29<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.99<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.91<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.88<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.88<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">8.54<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">USA Compression Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.66<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Antero Midstream Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.61<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NGL Energy Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.77<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kodiak Gas Services, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Sector allocation </b> <br/><b>(% of total investments)</b></div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10144941.jpg" style="width: 172.8pt;"/> </div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">15.29<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.99<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.91<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.88<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.88<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">8.54<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">USA Compression Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.66<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Antero Midstream Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.61<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NGL Energy Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.77<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kodiak Gas Services, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> 0.1529 0.1499 0.1491 0.1388 0.1088 0.0854 0.0566 0.0561 0.0477 0.0355 Invesco SteelPath MLP Income Fund Class R5 SPMQX This semi-annual shareholder report contains important information about Invesco SteelPath MLP Income Fund (the “Fund”) for the period December 1, 2025 to May 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246. invesco.com/reports (800) 959-4246 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div> <div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco SteelPath MLP Income Fund<br/>(Class R5)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>509</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">9.44<span>%</span></td> </tr> </table> <table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 509 0.0944 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>4,450,274,193</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">29</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">1<span>%</span></td> </tr> </table> 4450274193 29 0.01 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">15.29<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.99<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.91<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.88<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.88<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">8.54<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">USA Compression Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.66<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Antero Midstream Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.61<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NGL Energy Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.77<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kodiak Gas Services, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Sector allocation </b> <br/><b>(% of total investments)</b></div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10144869.jpg" style="width: 172.8pt;"/> </div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">15.29<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.99<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.91<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.88<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.88<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">8.54<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">USA Compression Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.66<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Antero Midstream Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.61<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NGL Energy Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.77<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kodiak Gas Services, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> 0.1529 0.1499 0.1491 0.1388 0.1088 0.0854 0.0566 0.0561 0.0477 0.0355 Invesco SteelPath MLP Income Fund Class R6 OSPMX This semi-annual shareholder report contains important information about Invesco SteelPath MLP Income Fund (the “Fund”) for the period December 1, 2025 to May 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246. invesco.com/reports (800) 959-4246 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div> <div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco SteelPath MLP Income Fund<br/>(Class R6)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>509</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">9.44<span>%</span></td> </tr> </table> <table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 509 0.0944 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>4,450,274,193</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">29</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">1<span>%</span></td> </tr> </table> 4450274193 29 0.01 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">15.29<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.99<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.91<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.88<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.88<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">8.54<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">USA Compression Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.66<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Antero Midstream Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.61<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NGL Energy Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.77<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kodiak Gas Services, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Sector allocation </b> <br/><b>(% of total investments)</b></div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10144905.jpg" style="width: 172.8pt;"/> </div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">15.29<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.99<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">14.91<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.88<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">10.88<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sunoco L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">8.54<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">USA Compression Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.66<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Antero Midstream Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.61<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NGL Energy Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.77<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kodiak Gas Services, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> 0.1529 0.1499 0.1491 0.1388 0.1088 0.0854 0.0566 0.0561 0.0477 0.0355 Invesco SteelPath MLP Select 40 Fund Class A MLPFX This semi-annual shareholder report contains important information about Invesco SteelPath MLP Select 40 Fund (the “Fund”) for the period December 1, 2025 to May 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246. invesco.com/reports (800) 959-4246 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div> <div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco SteelPath MLP Select 40 Fund<br/>(Class A)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>625</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">11.36<span>%</span><sup style="vertical-align: 0.5em; font-size: 66.6%;">†</sup></td> </tr> </table> <table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; text-align: left; font-size: 6pt; vertical-align: super; padding: 0px; margin: 0px;">​<sup style="font-size: 6pt; vertical-align: super;">†</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div> </td> </tr> </table> 625 0.1136 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>2,332,180,297</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">48</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">1<span>%</span></td> </tr> </table> 2332180297 48 0.01 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.56<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">6.84<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.90<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.75<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kodiak Gas Services, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.70<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.51<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.44<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.38<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NGL Energy Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.24<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Sector allocation </b> <br/><b>(% of total investments)</b></div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10144977.jpg" style="width: 172.8pt;"/> </div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.56<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">6.84<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.90<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.75<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kodiak Gas Services, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.70<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.51<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.44<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.38<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NGL Energy Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.24<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> 0.0756 0.0740 0.0684 0.0590 0.0575 0.0570 0.0551 0.0544 0.0538 0.0524 Invesco SteelPath MLP Select 40 Fund Class C MLPEX This semi-annual shareholder report contains important information about Invesco SteelPath MLP Select 40 Fund (the “Fund”) for the period December 1, 2025 to May 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246. invesco.com/reports (800) 959-4246 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div> <div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco SteelPath MLP Select 40 Fund<br/>(Class C)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>665</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">12.11<span>%</span><sup style="vertical-align: 0.5em; font-size: 66.6%;">†</sup></td> </tr> </table> <table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; text-align: left; font-size: 6pt; vertical-align: super; padding: 0px; margin: 0px;">​<sup style="font-size: 6pt; vertical-align: super;">†</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div> </td> </tr> </table> 665 0.1211 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>2,332,180,297</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">48</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">1<span>%</span></td> </tr> </table> 2332180297 48 0.01 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.56<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">6.84<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.90<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.75<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kodiak Gas Services, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.70<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.51<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.44<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.38<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NGL Energy Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.24<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Sector allocation </b> <br/><b>(% of total investments)</b></div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10145013.jpg" style="width: 172.8pt;"/> </div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.56<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">6.84<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.90<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.75<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kodiak Gas Services, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.70<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.51<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.44<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.38<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NGL Energy Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.24<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> 0.0756 0.0740 0.0684 0.0590 0.0575 0.0570 0.0551 0.0544 0.0538 0.0524 Invesco SteelPath MLP Select 40 Fund Class R SPMWX This semi-annual shareholder report contains important information about Invesco SteelPath MLP Select 40 Fund (the “Fund”) for the period December 1, 2025 to May 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246. invesco.com/reports (800) 959-4246 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div> <div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco SteelPath MLP Select 40 Fund<br/>(Class R)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>638</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">11.61<span>%</span><sup style="vertical-align: 0.5em; font-size: 66.6%;">†</sup></td> </tr> </table> <table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; text-align: left; font-size: 6pt; vertical-align: super; padding: 0px; margin: 0px;">​<sup style="font-size: 6pt; vertical-align: super;">†</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div> </td> </tr> </table> 638 0.1161 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>2,332,180,297</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">48</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">1<span>%</span></td> </tr> </table> 2332180297 48 0.01 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.56<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">6.84<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.90<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.75<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kodiak Gas Services, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.70<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.51<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.44<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.38<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NGL Energy Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.24<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Sector allocation </b> <br/><b>(% of total investments)</b></div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10145049.jpg" style="width: 172.8pt;"/> </div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.56<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">6.84<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.90<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.75<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kodiak Gas Services, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.70<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.51<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.44<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.38<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NGL Energy Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.24<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> 0.0756 0.0740 0.0684 0.0590 0.0575 0.0570 0.0551 0.0544 0.0538 0.0524 Invesco SteelPath MLP Select 40 Fund Class Y MLPTX This semi-annual shareholder report contains important information about Invesco SteelPath MLP Select 40 Fund (the “Fund”) for the period December 1, 2025 to May 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246. invesco.com/reports (800) 959-4246 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div> <div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco SteelPath MLP Select 40 Fund<br/>(Class Y)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>611</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">11.11<span>%</span><sup style="vertical-align: 0.5em; font-size: 66.6%;">†</sup></td> </tr> </table> <table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; text-align: left; font-size: 6pt; vertical-align: super; padding: 0px; margin: 0px;">​<sup style="font-size: 6pt; vertical-align: super;">†</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div> </td> </tr> </table> 611 0.1111 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>2,332,180,297</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">48</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">1<span>%</span></td> </tr> </table> 2332180297 48 0.01 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.56<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">6.84<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.90<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.75<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kodiak Gas Services, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.70<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.51<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.44<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.38<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NGL Energy Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.24<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Sector allocation </b> <br/><b>(% of total investments)</b></div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10145157.jpg" style="width: 172.8pt;"/> </div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.56<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">6.84<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.90<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.75<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kodiak Gas Services, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.70<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.51<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.44<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.38<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NGL Energy Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.24<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> 0.0756 0.0740 0.0684 0.0590 0.0575 0.0570 0.0551 0.0544 0.0538 0.0524 Invesco SteelPath MLP Select 40 Fund Class R5 SPMVX This semi-annual shareholder report contains important information about Invesco SteelPath MLP Select 40 Fund (the “Fund”) for the period December 1, 2025 to May 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246. invesco.com/reports (800) 959-4246 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div> <div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco SteelPath MLP Select 40 Fund<br/>(Class R5)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>608</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">11.04<span>%</span><sup style="vertical-align: 0.5em; font-size: 66.6%;">†</sup></td> </tr> </table> <table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; text-align: left; font-size: 6pt; vertical-align: super; padding: 0px; margin: 0px;">​<sup style="font-size: 6pt; vertical-align: super;">†</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div> </td> </tr> </table> 608 0.1104 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>2,332,180,297</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">48</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">1<span>%</span></td> </tr> </table> 2332180297 48 0.01 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.56<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">6.84<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.90<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.75<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kodiak Gas Services, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.70<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.51<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.44<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.38<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NGL Energy Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.24<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Sector allocation </b> <br/><b>(% of total investments)</b></div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10145085.jpg" style="width: 172.8pt;"/> </div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.56<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">6.84<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.90<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.75<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kodiak Gas Services, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.70<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.51<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.44<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.38<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NGL Energy Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.24<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> 0.0756 0.0740 0.0684 0.0590 0.0575 0.0570 0.0551 0.0544 0.0538 0.0524 Invesco SteelPath MLP Select 40 Fund Class R6 OSPSX This semi-annual shareholder report contains important information about Invesco SteelPath MLP Select 40 Fund (the “Fund”) for the period December 1, 2025 to May 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246. invesco.com/reports (800) 959-4246 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div> <div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco SteelPath MLP Select 40 Fund<br/>(Class R6)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>607</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">11.03<span>%</span><sup style="vertical-align: 0.5em; font-size: 66.6%;">†</sup></td> </tr> </table> <table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; text-align: left; font-size: 6pt; vertical-align: super; padding: 0px; margin: 0px;">​<sup style="font-size: 6pt; vertical-align: super;">†</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div> </td> </tr> </table> 607 0.1103 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>2,332,180,297</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">48</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">1<span>%</span></td> </tr> </table> 2332180297 48 0.01 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of May 31, 2026)</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.56<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">6.84<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.90<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.75<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kodiak Gas Services, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.70<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.51<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.44<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.38<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NGL Energy Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.24<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Sector allocation </b> <br/><b>(% of total investments)</b></div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10145121.jpg" style="width: 172.8pt;"/> </div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Midstream Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.56<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Energy Transfer L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MPLX L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">6.84<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Plains All American Pipeline L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.90<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources Corp.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.75<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kodiak Gas Services, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.70<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ONEOK, Inc.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.51<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Enterprise Products Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.44<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.38<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NGL Energy Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.24<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td> </tr> </table> 0.0756 0.0740 0.0684 0.0590 0.0575 0.0570 0.0551 0.0544 0.0538 0.0524 Excluding money market fund holdings, if any. 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