CLEARBRIDGE AGGRESSIVE GROWTH FUND

Schedule of investments (unaudited) May 31, 2019

SECURITY	SHARES		VALUE
COMMON STOCKS - 97.5%
COMMUNICATION SERVICES - 29.4%
Diversified Telecommunication Services - 0.1%
AT&T Inc.		323,562	$	9,894,526
Entertainment - 4.7%
Liberty Media Corp.-Liberty Braves, Class A Shares		157,714		4,185,730	*
Liberty Media Corp.-Liberty Braves, Class C Shares		282,740		7,523,711	*
Liberty Media Corp.-Liberty Formula One, Class A Shares		384,288		13,995,769	*
Liberty Media Corp.-Liberty Formula One, Class C Shares		691,853		25,826,872	*
Lions Gate Entertainment Corp., Class B Shares		1,356,677		18,667,876
Madison Square Garden Co., Class A Shares		730,394		216,079,761	*
Viacom Inc., Class B Shares		728,776		21,156,367
World Wrestling Entertainment Inc., Class A Shares		925,300		67,306,322
Total Entertainment				374,742,408
Interactive Media & Services - 2.9%
Facebook Inc., Class A Shares		78,594		13,948,077	*
Liberty TripAdvisor Holdings Inc., Class A Shares		375,814		4,002,419	*
Twitter Inc.		5,886,635		214,508,980	*
Total Interactive Media & Services				232,459,476
Media - 21.7%
AMC Networks Inc., Class A Shares		3,454,175		182,276,815	*
CBS Corp., Class B Shares, Non Voting Shares		728,776		35,185,305
Comcast Corp., Class A Shares		16,620,452		681,438,532
Discovery Inc., Class A Shares		7,559,663		206,076,413	*
Discovery Inc., Class C Shares		2,688,415		68,930,961	*
GCI Liberty Inc., Class A Shares		487,960		28,345,596	*
Liberty Broadband Corp., Class A Shares		1,071,526		104,495,216	*
Liberty Broadband Corp., Class C Shares		1,518,009		148,992,583	*
Liberty Global PLC, Class A Shares		620,450		15,263,070	*
Liberty Global PLC, Class C Shares		1,957,225		47,443,134	*
Liberty Latin America Ltd., Class A Shares		117,175		1,997,834	*
Liberty Latin America Ltd., Class C Shares		354,819		6,099,339	*
Liberty Media Corp.-Liberty SiriusXM, Class A Shares		1,527,154		55,008,087	*
Liberty Media Corp.-Liberty SiriusXM, Class C Shares		2,777,217		100,368,622	*
MSG Networks Inc., Class A Shares		2,211,179		46,677,989	*
Total Media				1,728,599,496
TOTAL COMMUNICATION SERVICES				2,345,695,906
CONSUMER DISCRETIONARY - 0.8%
Diversified Consumer Services - 0.0%
Ascent Capital Group Inc., Class A Shares		73,802		92,991	*

See Notes to Schedule of Investments.

1

CLEARBRIDGE AGGRESSIVE GROWTH FUND

Schedule of investments (unaudited) (cont’d) May 31, 2019

SECURITY	SHARES		VALUE
Internet & Direct Marketing Retail - 0.8%
Liberty Expedia Holdings Inc., Class A Shares		354,040	$	14,597,069	*
Qurate Retail Inc.		3,613,132		45,272,544	*
Total Internet & Direct Marketing Retail				59,869,613
TOTAL CONSUMER DISCRETIONARY				59,962,604
ENERGY - 7.2%
Energy Equipment & Services - 2.1%
Core Laboratories NV		2,188,066		104,239,464
National Oilwell Varco Inc.		3,002,236		62,596,621
Total Energy Equipment & Services				166,836,085
Oil, Gas & Consumable Fuels - 5.1%
Anadarko Petroleum Corp.		4,673,126		328,847,876
Encana Corp.		15,268,518		80,465,090
Total Oil, Gas & Consumable Fuels				409,312,966
TOTAL ENERGY				576,149,051
FINANCIALS - 1.8%
Banks - 0.7%
Sterling Bancorp		2,983,298		57,607,484
Capital Markets - 0.8%
Cohen & Steers Inc.		1,256,378		64,351,681
Thrifts & Mortgage Finance - 0.3%
New York Community Bancorp Inc.		1,871,604		18,585,028
TOTAL FINANCIALS				140,544,193
HEALTH CARE - 27.0%
Biotechnology - 14.9%
Aduro Biotech Inc.		123,046		399,899	*
Agios Pharmaceuticals Inc.		1,021,242		47,150,743	*
Alkermes PLC		976,445		21,032,625	*
Amgen Inc.		1,025,794		170,999,860
Biogen Inc.		2,312,431		507,092,994	*
ImmunoGen Inc.		125,766		226,379	*
Ionis Pharmaceuticals Inc.		2,382,745		156,308,072	*
ProQR Therapeutics NV		282,957		3,432,268	*
Ultragenyx Pharmaceutical Inc.		332,246		18,250,273	*
Vertex Pharmaceuticals Inc.		1,545,800		256,881,044	*
Voyager Therapeutics Inc.		229,702		5,009,801	*
Total Biotechnology				1,186,783,958
Health Care Equipment & Supplies - 1.4%
Medtronic PLC		1,078,830		99,878,082
Wright Medical Group NV		357,346		10,977,669	*
Total Health Care Equipment & Supplies				110,855,751

See Notes to Schedule of Investments.

2

CLEARBRIDGE AGGRESSIVE GROWTH FUND

Schedule of investments (unaudited) (cont’d) May 31, 2019

SECURITY	SHARES		VALUE
Health Care Providers & Services - 7.2%
UnitedHealth Group Inc.		2,390,308	$	577,976,474
Pharmaceuticals - 3.5%
Allergan PLC		2,069,100		252,243,981
Bausch Health Cos. Inc.		1,432,735		29,700,597	*
Total Pharmaceuticals				281,944,578
Total Health Care				2,157,560,761
INDUSTRIALS - 5.9%
Aerospace & Defense - 2.6%
L3 Technologies Inc.		867,698		210,034,978
Building Products - 2.1%
Johnson Controls International PLC		4,238,046		163,249,532
Construction & Engineering - 0.6%
Fluor Corp.		1,740,041		48,233,937
Electrical Equipment - 0.2%
nVent Electric PLC		746,874		17,222,914
Machinery - 0.3%
Pentair PLC		746,064		25,977,948
Trading Companies & Distributors - 0.1%
NOW Inc.		535,568		6,978,451	*
TOTAL INDUSTRIALS				471,697,760
INFORMATION TECHNOLOGY - 24.5%
Electronic Equipment, Instruments & Components - 4.0%
Dolby Laboratories Inc., Class A Shares		791,369		49,041,137
TE Connectivity Ltd.		3,211,580		270,511,383
Total Electronic Equipment, Instruments & Components				319,552,520
IT Services - 0.1%
Science Applications International Corp.		110,783		8,501,487
Semiconductors & Semiconductor Equipment - 7.5%
Broadcom Inc.		1,174,053		295,438,697
Cree Inc.		3,427,380		188,985,733	*
Intel Corp.		2,536,541		111,709,266
Total Semiconductors & Semiconductor Equipment				596,133,696
Software - 7.5%
Autodesk Inc.		2,009,820		323,400,136	*
Citrix Systems Inc.		1,280,072		120,480,377
FireEye Inc.		517,620		7,552,076	*
LogMeIn Inc.		87,102		6,256,537
Nuance Communications Inc.		8,369,573		143,705,568	*
Total Software				601,394,694

See Notes to Schedule of Investments.

3

CLEARBRIDGE AGGRESSIVE GROWTH FUND

Schedule of investments (unaudited) (cont’d) May 31, 2019

SECURITY				SHARES		VALUE
Technology Hardware, Storage & Peripherals - 5.4%
Seagate Technology PLC					8,289,633	$	346,921,141
Western Digital Corp.					2,277,087		84,753,178
Total Technology Hardware, Storage & Peripherals							431,674,319
TOTAL INFORMATION TECHNOLOGY							1,957,256,716
MATERIALS - 0.9%
Metals & Mining - 0.9%
Freeport-McMoRan Inc.					3,707,955		36,004,243
Nucor Corp.					780,297		37,454,256
TOTAL MATERIALS							73,458,499
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS (Cost - $3,218,724,125)							7,782,325,490
	RATE
SHORT-TERM INVESTMENTS - 0.1%
JPMorgan 100% U.S. Treasury Securities Money Market Fund, Institutional Class (Cost - $3,119,395)		2.218	%		3,119,395		3,119,395
TOTAL INVESTMENTS - 97.6% (Cost - $3,221,843,520)							7,785,444,885
Other Assets in Excess of Liabilities - 2.4%							193,416,970
TOTAL NET ASSETS - 100.0%						$	7,978,861,855

* Non-income producing security.

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.

4

Notes to Schedule of Investments (unaudited)

1. Organization and significant accounting policies

ClearBridge Aggressive Growth Fund (the “Fund”) is a separate diversified investment series of Legg Mason Partners Equity 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 following are significant accounting policies consistently followed by the Fund and are in conformity with U.S. generally accepted accounting principles (“GAAP”).

(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 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. 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 of Trustees is responsible for the valuation process and has delegated the supervision of the daily valuation process to the Legg Mason North Atlantic Fund Valuation Committee (the “Valuation Committee”). The Valuation Committee, pursuant to the policies adopted by the Board of Trustees, is responsible for making fair value determinations, evaluating the effectiveness of the Fund’s pricing policies, and reporting to the Board of Trustees. 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,

5

Notes to Schedule of Investments (unaudited) (continued)

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 of Trustees, 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 of Trustees 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.

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 – 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.

6

Notes to Schedule of Investments (unaudited) (continued)

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†	$	7,782,325,490		—		—	$	7,782,325,490
Short-Term Investments†		3,119,395		—		—		3,119,395
Total Investments	$	7,785,444,885		—		—	$	7,785,444,885

† See Schedule of Investments for additional detailed categorizations.

7