Invesco DB Base Metals Fund (DBB) names new managing owner board member

Rhea-AI Filing Summary

Invesco DB Multi-Sector Commodity Trust and Invesco DB Base Metals Fund report a governance change at Invesco Capital Management LLC, the managing owner. Jordan Krugman notified the entities on June 4, 2026 that he is resigning from all positions at the managing owner and its affiliates, effective as of the close of business on August 3, 2026.

On July 31, 2026, the Board of Managers of the managing owner appointed Matthew Casaccia to serve as a board member effective as of the close of business on the August 3, 2026 effective date, and all references to Mr. Krugman are replaced with Mr. Casaccia in the prospectus. Casaccia, age 43, is Senior Director of Financial Planning and Analysis for Investments and Global Product at Invesco Ltd and has 17 years of experience at the firm. His application as a principal of the managing owner is being prepared for submission. The supplement reiterates that shares of the Invesco DB Base Metals Fund trade on NYSE Arca under the symbol DBB and that the fund is not an investment company under the Investment Company Act of 1940.

Filing Explained

As of August 3, 2026, the prospectus replaces Jordan Krugman with Matthew Casaccia; Casaccia’s principal application remains at preparation stage.

This prospectus supplement updates the two funds’ Managing Owner disclosure: the board-member transition from Jordan Krugman to Matthew Casaccia takes effect at the close of business on August 3, 2026, when references to Mr. Krugman are replaced.

The change affects the Managing Owner’s disclosed board membership and the biography in the prospectus, rather than reporting a transaction in the funds’ shares.

The replacement biography identifies Mr. Casaccia as an Invesco Senior Director with finance, product, distribution, and transfer-agency experience, and says he has served on the Managing Owner’s board since August 2026.

The filing states that Mr. Casaccia’s application as a principal of the Managing Owner is being prepared for submission; it does not state that this application has been submitted or approved.

Key Figures

Effective date of resignation and appointment: August 3, 2026 Date notice of resignation was given: June 4, 2026 Date of Board appointment decision: July 31, 2026 +3 more

6 metrics

Effective date of resignation and appointment August 3, 2026 Date when Krugman’s resignation and Casaccia’s Board service become effective

Date notice of resignation was given June 4, 2026 Date Jordan Krugman notified Invesco DB Multi-Sector Commodity Trust and Invesco DB Base Metals Fund

Date of Board appointment decision July 31, 2026 Date the Board appointed Matthew Casaccia to serve as a member of the Board

Age of new Board member 43 Age of Matthew Casaccia as disclosed in his biography

Tenure at Invesco Ltd 17 years Total time Matthew Casaccia has spent with Invesco Ltd

Prospectus Supplement date August 3, 2026 Dated as the date of Prospectus Supplement No. 2

Key Terms

Prospectus Supplement, Managing Owner, Board of Managers, Investment Company Act of 1940, +2 more

6 terms

Prospectus Supplement regulatory

"This Prospectus Supplement No. 2 supplements and amends the Prospectus"

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

Managing Owner financial

"Invesco Capital Management LLC (the “Managing Owner”)"

Board of Managers financial

"as a member of the Board of Managers (the “Board”) of the Managing Owner"

Investment Company Act of 1940 regulatory

"not a mutual fund or any other type of investment company within the meaning of the Investment Company Act of 1940"

A U.S. federal law that sets the rulebook for pooled investment vehicles such as mutual funds, exchange-traded funds and similar money managers, requiring them to register with regulators, disclose holdings and fees, limit conflicts of interest, and follow governance standards. It matters to investors because these protections and transparency rules act like a referee and scoreboard, helping people compare funds, trust that managers follow fair practices, and spot hidden costs or risks.

Commodity Futures Trading Commission regulatory

"THE COMMODITY FUTURES TRADING COMMISSION HAS NOT PASSED UPON THE MERITS"

A U.S. federal agency that oversees trading in futures, options and swap contracts—agreements to buy or sell assets at a later date. It writes and enforces rules, monitors markets for fraud and manipulation, and requires reporting so prices reflect real supply and demand. Think of it as a referee and rulebook keeper for complex financial markets: its oversight helps investors trust market prices and reduces the risk of abrupt disruptions.

principal of the Managing Owner financial

"Mr. Casaccia’s application as a principal of the Managing Owner is being prepared"

FAQ

What governance change does Invesco DB Base Metals Fund (DBB) disclose in this supplement?

The supplement discloses that Jordan Krugman is resigning from all positions at Invesco Capital Management LLC and its affiliates, and Matthew Casaccia has been appointed to the Managing Owner’s Board of Managers effective August 3, 2026.

When is Jordan Krugman’s resignation from the Managing Owner effective for DBB?

Jordan Krugman’s resignation is effective as of the close of business on August 3, 2026. As of that same effective date, all references to Mr. Krugman in the prospectus are deleted and replaced with references to Mr. Casaccia.

Who is Matthew Casaccia, the new Board member for the Managing Owner of DBB?

Matthew Casaccia (43) is Senior Director of Financial Planning and Analysis for Investments and Global Product at Invesco Ltd, with 17 years at the firm in finance, distribution and transfer agency roles, and now serves on the Managing Owner’s Board of Managers.

Is the Invesco DB Base Metals Fund (DBB) regulated as an investment company?

No. The supplement reiterates that the Invesco DB Base Metals Fund is not a mutual fund or any other type of investment company under the Investment Company Act of 1940 and is not subject to regulation under that statute.

Where are shares of Invesco DB Base Metals Fund (DBB) listed and what does the filing say about risk?

Shares of the Invesco DB Base Metals Fund are listed on NYSE Arca, Inc. under the symbol DBB. The supplement notes that investing in the shares involves significant risks and directs readers to the Risk Factors section of the prospectus.

Has any regulator approved the securities described for Invesco DB Base Metals Fund (DBB)?

The supplement states that the SEC and any state securities commission have not approved or disapproved these securities and that the Commodity Futures Trading Commission has not passed on the merits or adequacy of the disclosure document.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/12/2026 - 07:10 PM Accepted by SEC EDGAR 08/03/2026 - 04:53 PM Learn about SEC filing dates

Filed Pursuant to Rule 424(b)(3)
Registration Nos. 333-280605
333-280605-01

PROSPECTUS SUPPLEMENT NO. 2

(to Prospectus dated August 26, 2025, as amended November 10, 2025)

INVESCO DB MULTI-SECTOR COMMODITY TRUST

INVESCO DB BASE METALS FUND

This Prospectus Supplement No. 2 (“Supplement No. 2”) supplements and amends the Prospectus dated August 26, 2025, as amended November 10, 2025 (the “Prospectus”).

On June 4, 2026, Mr. Jordan Krugman gave notice to the Invesco DB Multi-Sector Commodity Trust and the Invesco DB Base Metals Fund that he is resigning from all positions at Invesco Capital Management LLC (the “Managing Owner”) and its affiliates, including his position as a member of the Board of Managers (the “Board”) of the Managing Owner, effective as of the close of business on August 3, 2026 (the “Effective Date”). On July 31, 2026, the Board appointed Mr. Matthew Casaccia to serve as a member of the Board of the Managing Owner, effective as of the close of business on the Effective Date.

Accordingly, as of the close of business on the Effective Date, all references to Mr. Krugman are deleted and replaced by Mr. Casaccia. In addition, the following biography for Mr. Casaccia replaces Mr. Krugman’s biography on page 57 of the Prospectus:

Matthew Casaccia (43) is Senior Director of Financial Planning and Analysis for Investments (since December 2023) and Global Product (since March 2025) with Invesco Ltd, a global investment management company affiliated with the Managing Owner. In this capacity, Mr. Casaccia is responsible for general management support, in addition to executing on various strategic initiatives and overseeing the financial framework for these business units. He also has served as a member of the Board of Managers of the Managing Owner since August 2026. Prior to these roles, Mr. Casaccia served as Senior Manager, Financial Planning and Analysis for Wealth Management Intermediaries, which is the distribution organization with Invesco Ltd, since May 2019. Overall, he has spent the last 17 years with Invesco Ltd with experience in finance, distribution and the North American transfer agency. Mr. Casaccia holds a BS in Business Administration from Stephen F. Austin State University. Mr. Casaccia’s application as a principal of the Managing Owner is being prepared for submission.

Supplement No. 2 should be read together with the Prospectus.

Shares of the Invesco DB Base Metals Fund are listed on NYSE Arca, Inc. under the symbol “DBB”.

Investing in the Shares involves significant risks. See “RISK FACTORS” starting on page 12 of the Prospectus.

These securities have not been approved or disapproved by the Securities and Exchange Commission or any state securities commission nor has the Securities and Exchange Commission passed upon the adequacy or accuracy of the Prospectus or this Prospectus Supplement No. 2. Any representation to the contrary is a criminal offense.

The Fund is not a mutual fund or any other type of investment company within the meaning of the Investment Company Act of 1940, as amended, and is not subject to regulation thereunder.

THE COMMODITY FUTURES TRADING COMMISSION HAS NOT PASSED UPON THE MERITS OF PARTICIPATING IN THESE POOLS NOR HAS THE COMMISSION PASSED ON THE ADEQUACY OR ACCURACY OF THIS DISCLOSURE DOCUMENT.

The date of this Prospectus Supplement No. 2 is August 3, 2026.

PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE

P-DBB-PRO-1-SUP-2 080326