Schedule of Investments (unaudited)
February 28, 2026
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 Franklin U.S. Large Cap Equity Fund

(Percentages shown based on Fund net assets) 
Security
 
 
 
Shares
Value
Common Stocks — 95.0%
Communication Services — 11.0%
Diversified Telecommunication Services — 2.0%
AT&T Inc.
125,538
 $3,516,319
 
Comcast Corp., Class A Shares
108,233
3,350,894
 
Verizon Communications Inc.
57,960
2,906,115
 
Total Diversified Telecommunication Services
9,773,328
Entertainment — 0.5%
Electronic Arts Inc.
8,815
1,768,025
 
Netflix Inc.
5,260
506,222
 *
Total Entertainment
2,274,247
Interactive Media & Services — 8.5%
Alphabet Inc., Class A Shares
47,202
14,715,696
 
Alphabet Inc., Class C Shares
38,736
12,063,552
 
Match Group Inc.
66,714
2,108,162
 
Meta Platforms Inc., Class A Shares
19,059
12,353,663
 
Total Interactive Media & Services
41,241,073
Media — 0.0%††
Versant Media Group Inc.
4,329
144,242
 *
 
Total Communication Services
53,432,890
Consumer Discretionary — 10.4%
Automobiles — 2.6%
Ford Motor Co.
205,880
2,900,849
 
General Motors Co.
46,647
3,671,585
 
Tesla Inc.
15,627
6,290,024
 *
Total Automobiles
12,862,458
Broadline Retail — 3.0%
Amazon.com Inc.
59,860
12,570,600
 *
Macy’s Inc.
106,495
2,106,471
 
Total Broadline Retail
14,677,071
Hotels, Restaurants & Leisure — 1.1%
Booking Holdings Inc.
615
2,607,200
 
Boyd Gaming Corp.
5,399
449,359
 
Expedia Group Inc.
9,656
2,082,703
 
Total Hotels, Restaurants & Leisure
5,139,262
Specialty Retail — 2.4%
Best Buy Co. Inc.
31,536
1,954,286
 
Home Depot Inc.
1,294
492,652
 
Lowe’s Cos. Inc.
12,280
3,248,920
 
TJX Cos. Inc.
22,616
3,656,102
 
Ulta Beauty Inc.
3,335
2,283,775
 *
Total Specialty Retail
11,635,735
Textiles, Apparel & Luxury Goods — 1.3%
Crocs Inc.
30,475
2,764,387
 *
Tapestry Inc.
22,555
3,506,626
 
Total Textiles, Apparel & Luxury Goods
6,271,013
 
Total Consumer Discretionary
50,585,539
See Notes to Schedule of Investments.
1
Franklin U.S. Large Cap Equity Fund 2026 Quarterly Report
Schedule of Investments (unaudited) (cont’d)
February 28, 2026
 Franklin U.S. Large Cap Equity Fund
(Percentages shown based on Fund net assets)
Security
 
 
 
Shares
Value
 
Consumer Staples — 6.2%
Beverages — 0.2%
Boston Beer Co. Inc., Class A Shares
3,638
 $825,026
 *
Consumer Staples Distribution & Retail — 3.5%
Albertsons Cos. Inc., Class A Shares
107,934
1,932,018
 
Costco Wholesale Corp.
735
742,931
 
Dollar General Corp.
6,716
1,049,308
 
Dollar Tree Inc.
25,519
3,227,643
 *
Kroger Co.
41,154
2,808,349
 
Walmart Inc.
56,284
7,201,538
 
Total Consumer Staples Distribution & Retail
16,961,787
Food Products — 0.5%
Archer-Daniels-Midland Co.
38,497
2,657,833
 
Household Products — 1.3%
Colgate-Palmolive Co.
23,780
2,357,549
 
Procter & Gamble Co.
24,772
4,141,878
 
Total Household Products
6,499,427
Tobacco — 0.7%
Altria Group Inc.
51,093
3,527,461
 
 
Total Consumer Staples
30,471,534
Energy — 2.8%
Oil, Gas & Consumable Fuels — 2.8%
APA Corp.
104,547
3,175,092
 
Chevron Corp.
27,709
5,174,933
 
Devon Energy Corp.
70,144
3,053,368
 
Exxon Mobil Corp.
14,550
2,218,875
 
 
Total Energy
13,622,268
Financials — 11.3%
Banks — 2.8%
Bank of America Corp.
81,908
4,081,476
 
Citigroup Inc.
38,794
4,274,711
 
JPMorgan Chase & Co.
17,862
5,363,958
 
Total Banks
13,720,145
Capital Markets — 3.4%
Bank of New York Mellon Corp.
30,063
3,580,503
 
Goldman Sachs Group Inc.
5,472
4,703,567
 
Morgan Stanley
14,667
2,442,202
 
SEI Investments Co.
24,737
2,011,613
 
State Street Corp.
14,114
1,815,343
 
T. Rowe Price Group Inc.
22,842
2,161,539
 
Total Capital Markets
16,714,767
Financial Services — 4.6%
Berkshire Hathaway Inc., Class B Shares
9,879
4,988,401
 *
Mastercard Inc., Class A Shares
9,599
4,964,699
 
MGIC Investment Corp.
82,461
2,187,690
 
PayPal Holdings Inc.
34,137
1,577,471
 
Visa Inc., Class A Shares
19,627
6,283,388
 
See Notes to Schedule of Investments.
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Franklin U.S. Large Cap Equity Fund 2026 Quarterly Report
 Franklin U.S. Large Cap Equity Fund
(Percentages shown based on Fund net assets)
Security
 
 
 
Shares
Value
 
Financial Services — continued
Western Union Co.
237,482
 $2,286,951
 
Total Financial Services
22,288,600
Insurance — 0.5%
American International Group Inc.
31,128
2,505,493
 
 
Total Financials
55,229,005
Health Care — 10.1%
Biotechnology — 5.1%
AbbVie Inc.
25,546
5,928,716
 
Amgen Inc.
10,436
4,050,838
 
Biogen Inc.
8,710
1,670,752
 *
Exelixis Inc.
65,030
2,865,222
 *
Gilead Sciences Inc.
27,797
4,140,363
 
Halozyme Therapeutics Inc.
38,577
2,682,259
 *
Regeneron Pharmaceuticals Inc.
4,447
3,476,086
 
Total Biotechnology
24,814,236
Health Care Equipment & Supplies — 0.9%
Abbott Laboratories
12,367
1,438,901
 
IDEXX Laboratories Inc.
4,117
2,703,757
 *
Total Health Care Equipment & Supplies
4,142,658
Health Care Providers & Services — 2.1%
Cardinal Health Inc.
15,190
3,482,004
 
HCA Healthcare Inc.
6,185
3,276,195
 
McKesson Corp.
3,620
3,574,279
 
Total Health Care Providers & Services
10,332,478
Life Sciences Tools & Services — 0.3%
Medpace Holdings Inc.
3,491
1,577,094
 *
Pharmaceuticals — 1.7%
Bristol-Myers Squibb Co.
57,355
3,577,231
 
Eli Lilly & Co.
2,848
2,996,068
 
Johnson & Johnson
6,673
1,657,773
 
Total Pharmaceuticals
8,231,072
 
Total Health Care
49,097,538
Industrials — 7.6%
Aerospace & Defense — 3.4%
General Dynamics Corp.
8,401
2,999,577
 
General Electric Co.
17,458
5,975,175
 
L3Harris Technologies Inc.
3,074
1,120,596
 
Lockheed Martin Corp.
5,174
3,404,906
 
RTX Corp.
16,247
3,291,967
 
Total Aerospace & Defense
16,792,221
Building Products — 0.4%
Allegion PLC
11,868
1,912,528
 
Ground Transportation — 1.4%
Lyft Inc., Class A Shares
120,528
1,668,108
 *
Ryder System Inc.
10,724
2,376,009
 
Uber Technologies Inc.
38,778
2,924,637
 *
Total Ground Transportation
6,968,754
See Notes to Schedule of Investments.
3
Franklin U.S. Large Cap Equity Fund 2026 Quarterly Report
Schedule of Investments (unaudited) (cont’d)
February 28, 2026
 Franklin U.S. Large Cap Equity Fund
(Percentages shown based on Fund net assets)
Security
 
 
 
Shares
Value
 
Machinery — 1.2%
Caterpillar Inc.
6,993
 $5,194,610
 
Mueller Industries Inc.
5,057
596,524
 
Total Machinery
5,791,134
Passenger Airlines — 0.2%
United Airlines Holdings Inc.
8,325
884,948
 *
Trading Companies & Distributors — 1.0%
Fastenal Co.
45,129
2,077,739
 
Ferguson Enterprises Inc.
10,571
2,756,494
 
Total Trading Companies & Distributors
4,834,233
 
Total Industrials
37,183,818
Information Technology — 30.8%
Communications Equipment — 0.7%
Cisco Systems Inc.
45,952
3,651,346
 
Semiconductors & Semiconductor Equipment — 12.9%
Advanced Micro Devices Inc.
2,209
442,264
 *
Broadcom Inc.
28,564
9,127,626
 
Cirrus Logic Inc.
4,174
589,035
 *
KLA Corp.
1,764
2,689,306
 
Lam Research Corp.
22,487
5,259,485
 
Micron Technology Inc.
16,106
6,641,631
 
NVIDIA Corp.
187,758
33,268,840
 
QUALCOMM Inc.
22,884
3,257,766
 
Skyworks Solutions Inc.
28,607
1,704,405
 
Total Semiconductors & Semiconductor Equipment
62,980,358
Software — 9.9%
Adobe Inc.
11,256
2,953,687
 *
AppLovin Corp., Class A Shares
5,790
2,517,318
 *
DocuSign Inc.
27,198
1,225,814
 *
Dropbox Inc., Class A Shares
86,446
2,160,285
 *
Intuit Inc.
5,258
2,150,680
 
Microsoft Corp.
55,336
21,732,661
 
Oracle Corp.
3,317
482,292
 
Palantir Technologies Inc., Class A Shares
26,058
3,574,897
 *
Pegasystems Inc.
44,388
1,941,087
 
RingCentral Inc., Class A Shares
81,634
2,975,559
 *
Salesforce Inc.
10,577
2,060,294
 
Teradata Corp.
75,420
2,374,976
 *
Zoom Communications Inc., Class A Shares
28,069
2,075,422
 *
Total Software
48,224,972
Technology Hardware, Storage & Peripherals — 7.3%
Apple Inc.
117,786
31,116,705
 
Western Digital Corp.
15,740
4,402,478
 
Total Technology Hardware, Storage & Peripherals
35,519,183
 
Total Information Technology
150,375,859
Materials — 3.0%
Chemicals — 1.1%
CF Industries Holdings Inc.
26,474
2,635,222
 
See Notes to Schedule of Investments.
4
Franklin U.S. Large Cap Equity Fund 2026 Quarterly Report
 Franklin U.S. Large Cap Equity Fund
(Percentages shown based on Fund net assets)
Security
 
 
 
Shares
Value
 
Chemicals — continued
Corteva Inc.
33,948
 $2,719,914
 
Total Chemicals
5,355,136
Containers & Packaging — 0.5%
Crown Holdings Inc.
21,341
2,445,678
 
Metals & Mining — 1.4%
Anglogold Ashanti PLC
17,796
2,273,795
 
Newmont Corp.
35,845
4,659,850
 
Total Metals & Mining
6,933,645
 
Total Materials
14,734,459
Real Estate — 1.0%
Residential REITs — 0.6%
Sun Communities Inc.
19,266
2,629,038
 
Specialized REITs — 0.4%
VICI Properties Inc.
70,123
2,118,416
 
 
Total Real Estate
4,747,454
Utilities — 0.8%
Electric Utilities — 0.8%
Duke Energy Corp.
4,280
560,038
 
NRG Energy Inc.
14,868
2,660,777
 
Southern Co.
5,410
526,826
 
 
Total Utilities
3,747,641
Total Investments before Short-Term Investments (Cost — $326,323,850)
463,228,005
 
 
Rate
 
 
 
Short-Term Investments — 1.2%
Invesco Treasury Portfolio, Institutional Class (Cost — $5,892,708)  
3.562%
5,892,708
 
5,892,708
 (a)
Total Investments — 96.2% (Cost — $332,216,558)
469,120,713
Other Assets in Excess of Liabilities — 3.8%
18,358,450
Total Net Assets — 100.0%
$487,479,163
 
††
Represents less than 0.1%.
*
Non-income producing security.
(a)
Rate shown is one-day yield as of the end of the reporting period.
This Schedule of Investments is unaudited and is intended to provide information about the Fund’s investments as of the date of the schedule. Other information regarding the Fund is available in the Fund’s most recent annual or semi-annual shareholder report.
See Notes to Schedule of Investments.
5
Franklin U.S. Large Cap Equity Fund 2026 Quarterly Report
Notes to Schedule of Investments (unaudited)
1. Organization and significant accounting policies
Franklin U.S. Large Cap Equity Fund (the “Fund”) is a separate diversified investment series of Legg Mason Partners Investment Trust (the “Trust”). The Trust, a Maryland statutory trust, is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company.
The Fund follows the accounting and reporting guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946, Financial Services – Investment Companies (“ASC 946”). The following are significant accounting policies consistently followed by the Fund and are in conformity with U.S. generally accepted accounting principles (“GAAP”), including, but not limited to, ASC 946.
(a) Investment valuation. Equity securities for which market quotations are available are valued at the last reported sales price or official closing price on the primary market or exchange on which they trade. The valuations for fixed income securities (which may include, but are not limited to, corporate, government, municipal, mortgage-backed, collateralized mortgage obligations and asset-backed securities) and certain derivative instruments are typically the prices supplied by independent third party pricing services, which may use market prices or broker/dealer quotations or a variety of valuation techniques and methodologies. The independent third party pricing services typically use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar securities. Investments in open-end funds are valued at the closing net asset value per share of each fund on the day of valuation. Futures contracts are valued daily at the settlement price established by the board of trade or exchange on which they are traded. When the Fund holds securities or other assets that are denominated in a foreign currency, the Fund will normally use the currency exchange rates as of 4:00 p.m. (Eastern Time). If independent third party pricing services are unable to supply prices for a portfolio investment, or if the prices supplied are deemed by the manager to be unreliable, the market price may be determined by the manager using quotations from one or more broker/dealers or at the transaction price if the security has recently been purchased and no value has yet been obtained from a pricing service or pricing broker. When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the Fund calculates its net asset value, the Fund values these securities as determined in accordance with procedures approved by the Fund’s Board of Trustees (the “Board”).  
Pursuant to policies adopted by the Board, the Fund’s manager has been designated as the valuation designee and is responsible for the oversight of the daily valuation process. The Fund’s manager is assisted by the Global Fund Valuation Committee (the “Valuation Committee”). The Valuation Committee is responsible for making fair value determinations, evaluating the effectiveness of the Fund’s pricing policies, and reporting to the Fund’s manager and the Board. When determining the reliability of third party pricing information for investments owned by the Fund, the Valuation Committee, among other things, conducts due diligence reviews of pricing vendors, monitors the daily change in prices and reviews transactions among market participants.
The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer’s financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts’ research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.
For each portfolio security that has been fair valued pursuant to the policies adopted by the Board, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such back testing monthly and fair valuation occurrences are reported to the Board quarterly.
The Fund uses valuation techniques to measure fair value that are consistent with the market approach and/or income approach, depending on the type of security and the particular circumstance. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable securities. The income approach uses valuation techniques to discount estimated future cash flows to present value.
6
Franklin U.S. Large Cap Equity Fund 2026 Quarterly Report
GAAP establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:
•
Level 1 — unadjusted quoted prices in active markets for identical investments
•
Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)
The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.
The following is a summary of the inputs used in valuing the Fund’s assets carried at fair value:
 
ASSETS
Description
Quoted Prices
(Level 1)
Other Significant
Observable Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Common Stocks†
 $463,228,005
—
—
 $463,228,005
Short-Term Investments†
5,892,708
—
—
5,892,708
Total Investments
$469,120,713
—
—
$469,120,713
 
†
See Schedule of Investments for additional detailed categorizations.
7
Franklin U.S. Large Cap Equity Fund 2026 Quarterly Report