Invesco DB Precious Metals Fund updates board

Invesco DB Multi-Sector Commodity Trust and Invesco DB Precious Metals Fund report a Board change at Invesco Capital Management LLC, the Managing Owner.

Rhea-AI Filing Summary

Invesco DB Multi-Sector Commodity Trust and Invesco DB Precious Metals Fund report a Board change at Invesco Capital Management LLC, the Managing Owner. On June 4, 2026, Jordan Krugman notified the funds 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 appointed Matthew Casaccia to serve as a member of the Board of the Managing Owner, effective as of the same Effective Date. All references to Mr. Krugman are replaced by Mr. Casaccia, whose updated biography describes his senior financial planning and analysis roles at Invesco Ltd and his 17 years of experience with the firm.

Filing Explained

The supplement adds Matthew Casaccia’s biography after his scheduled replacement of Jordan Krugman on the Managing Owner’s board, while stating that Casaccia’s application as a Managing Owner principal is still being prepared for submission.

Key Figures

Effective Date of Board Change: August 3, 2026 Appointment Date Resolution: July 31, 2026 Notice of Resignation Date: June 4, 2026 +2 more

5 metrics

Effective Date of Board Change August 3, 2026 Date when Krugman’s resignation and Casaccia’s appointment take effect

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

Notice of Resignation Date June 4, 2026 Date Jordan Krugman gave notice of resignation from all positions

Casaccia Age 43 Age of Matthew Casaccia as stated in his biography

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

Key Terms

Prospectus Supplement, Managing Owner, principal of the Managing Owner, Investment Company Act of 1940, +1 more

5 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

"resigning from all positions at Invesco Capital Management LLC (the “Managing Owner”)"

principal of the Managing Owner regulatory

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

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.

FAQ

What governance change does Invesco DB Precious Metals Fund (DBP) disclose in this supplement?

The fund discloses that Jordan Krugman will resign from all positions at the Managing Owner and its affiliates effective August 3, 2026, and Matthew Casaccia will join the Board of the Managing Owner effective the same date.

When does the Board transition at the Managing Owner for DBP become effective?

The transition becomes effective at the close of business on August 3, 2026. Mr. Krugman’s resignation and Mr. Casaccia’s appointment to the Board of the Managing Owner both take effect as of that Effective Date.

Who is replacing Jordan Krugman on the Board related to DBP?

Matthew Casaccia is replacing Jordan Krugman on the Board of Managers of the Managing Owner. All references to Mr. Krugman in the Prospectus are deleted and replaced with references to Mr. Casaccia as of the Effective Date.

What is Matthew Casaccia’s background as described for investors in DBP?

The supplement states that 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.

Is the Invesco DB Precious Metals Fund (DBP) regulated as an investment company?

No. The disclosure states the fund is not a mutual fund or other investment company under the Investment Company Act of 1940, and therefore is not subject to regulation under that statute.

On which exchange are DBP shares listed according to this supplement?

Shares of the Invesco DB Precious Metals Fund are listed on NYSE Arca, Inc. under the symbol “DBP”, as disclosed in the prospectus supplement for investors.

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Available on EDGAR 08/12/2026 - 07:10 PM Accepted by SEC EDGAR 08/03/2026 - 04:58 PM Learn about SEC filing dates

Filed Pursuant to Rule 424(b)(3)

Registration Nos. 333-280612

333-280612-01

PROSPECTUS SUPPLEMENT NO. 2

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

INVESCO DB MULTI-SECTOR COMMODITY TRUST

INVESCO DB PRECIOUS 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 Precious 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 56 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 Precious Metals Fund are listed on NYSE Arca, Inc. under the symbol “DBP”.

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-DBP-PRO-1-SUP-2 080326