CLEARBRIDGE SMALL CAP GROWTH FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) July 31, 2021

SECURITY	SHARES		VALUE
COMMON STOCKS - 98.0%
COMMUNICATION SERVICES - 3.1%
Diversified Telecommunication Services - 2.7%
Bandwidth Inc., Class A Shares		753,449	$	97,692,197	*
Iridium Communications Inc.		1,630,106		68,839,377	*
Total Diversified Telecommunication Services				166,531,574
Media - 0.4%
Klaviyo Inc.		802,521		26,789,274	*(a)(b)(c)
TOTAL COMMUNICATION SERVICES				193,320,848
CONSUMER DISCRETIONARY - 11.7%
Auto Components - 3.1%
Fox Factory Holding Corp.		1,201,459		194,083,687	*
Distributors - 1.1%
Core-Mark Holding Co. Inc.		1,565,254		67,368,532
Diversified Consumer Services - 2.6%
Chegg Inc.		1,882,318		166,829,845	*
Internet & Direct Marketing Retail - 0.3%
Poshmark Inc., Class A Shares		521,322		20,456,675	*
Leisure Products - 0.8%
Hayward Holdings Inc.		2,154,035		51,890,703	*
Specialty Retail - 3.8%
Monro Inc.		976,155		56,616,990
National Vision Holdings Inc.		2,916,334		157,423,709	*
Vroom Inc.		667,900		24,739,016	*
Total Specialty Retail				238,779,715
TOTAL CONSUMER DISCRETIONARY				739,409,157
CONSUMER STAPLES - 5.8%
Food & Staples Retailing - 4.6%
BJ’s Wholesale Club Holdings Inc.		3,180,066		161,038,542	*
Casey’s General Stores Inc.		491,729		97,219,741
Grocery Outlet Holding Corp.		892,644		29,564,369	*
Total Food & Staples Retailing				287,822,652
Food Products - 1.2%
Calavo Growers Inc.		544,025		30,650,369
Hain Celestial Group Inc.		1,170,318		46,707,391	*
Total Food Products				77,357,760
TOTAL CONSUMER STAPLES				365,180,412

See Notes to Schedule of Investments.

ClearBridge Small Cap Growth Fund 2021 Quarterly Report         1

CLEARBRIDGE SMALL CAP GROWTH FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) July 31, 2021

SECURITY	SHARES		VALUE
ENERGY - 1.7%
Energy Equipment & Services - 1.7%
Cactus Inc., Class A Shares		1,752,101	$	63,145,720
ChampionX Corp.		2,028,351		47,138,877	*
TOTAL ENERGY				110,284,597
FINANCIALS - 6.7%
Banks - 1.8%
Western Alliance Bancorp		1,266,553		117,561,449
Capital Markets - 2.2%
Hamilton Lane Inc., Class A Shares		755,621		70,272,753
PJT Partners Inc., Class A Shares		864,633		67,588,362
Total Capital Markets				137,861,115
Insurance - 2.7%
American Equity Investment Life Holding Co.		1,800,787		57,787,255
Trupanion Inc.		961,508		110,592,650	*
Total Insurance				168,379,905
TOTAL FINANCIALS				423,802,469
HEALTH CARE - 26.1%
Biotechnology - 5.0%
Biohaven Pharmaceutical Holding Co. Ltd.		766,907		96,637,951	*
CareDx Inc.		1,450,669		121,914,223	*
Invitae Corp.		1,857,134		51,981,180	*
Ultragenyx Pharmaceutical Inc.		578,101		46,149,803	*
Total Biotechnology				316,683,157
Health Care Equipment & Supplies - 7.1%
CryoPort Inc.		868,760		53,619,867	*
Figs Inc., Class A Shares		267,670		9,743,188	*
Insulet Corp.		173,700		48,582,153	*
Integra LifeSciences Holdings Corp.		1,626,870		117,769,120	*
Penumbra Inc.		610,727		162,593,849	*
Silk Road Medical Inc.		1,193,796		59,904,683	*
Total Health Care Equipment & Supplies				452,212,860
Health Care Providers & Services - 3.9%
Progyny Inc.		2,209,387		123,040,762	*
Surgery Partners Inc.		2,245,331		122,505,259	*
Total Health Care Providers & Services				245,546,021

See Notes to Schedule of Investments.

    2     ClearBridge Small Cap Growth Fund 2021 Quarterly Report

CLEARBRIDGE SMALL CAP GROWTH FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) July 31, 2021

SECURITY	SHARES		VALUE
Health Care Technology - 4.2%
Certara Inc.		1,345,149	$	36,601,504	*
Health Catalyst Inc.		1,456,036		84,537,450	*
Omnicell Inc.		586,305		85,893,683	*
Vocera Communications Inc.		1,418,673		59,527,519	*
Total Health Care Technology				266,560,156
Life Sciences Tools & Services - 5.0%
ICON PLC		486,654		118,388,319	*
Olink Holding AB, ADR		981,896		36,693,453	*
Quanterix Corp.		423,990		22,535,068	*
Syneos Health Inc.		1,547,359		138,751,682	*
Total Life Sciences Tools & Services				316,368,522
Pharmaceuticals - 0.9%
Pacira BioSciences Inc.		983,792		57,994,539	*
TOTAL HEALTH CARE				1,655,365,255
INDUSTRIALS - 15.1%
Aerospace & Defense - 0.2%
Aerojet Rocketdyne Holdings Inc.		316,869		14,949,879
Air Freight & Logistics - 3.2%
Forward Air Corp.		965,608		85,398,372
XPO Logistics Inc.		842,551		116,853,398	*
Total Air Freight & Logistics				202,251,770
Building Products - 4.5%
Masonite International Corp.		719,191		81,383,654	*
Trex Co. Inc.		2,102,035		204,107,598	*
Total Building Products				285,491,252
Commercial Services & Supplies - 0.5%
US Ecology Inc.		887,385		31,058,475	*
Electrical Equipment - 1.7%
Bloom Energy Corp., Class A Shares		2,024,064		44,124,595	*
Shoals Technologies Group Inc., Class A Shares		2,089,779		60,791,671	*
Total Electrical Equipment				104,916,266
Machinery - 3.9%
Albany International Corp., Class A Shares		473,946		40,925,237
Hydrofarm Holdings Group Inc.		379,128		18,706,176	*
RBC Bearings Inc.		551,238		129,540,930	*
Tennant Co.		711,590		56,301,001
Total Machinery				245,473,344
Trading Companies & Distributors - 1.1%
H&E Equipment Services Inc.		1,719,191		58,504,070
MRC Global Inc.		1,397,563		12,815,653	*
Total Trading Companies & Distributors				71,319,723
TOTAL INDUSTRIALS				955,460,709

See Notes to Schedule of Investments.

ClearBridge Small Cap Growth Fund 2021 Quarterly Report         3

CLEARBRIDGE SMALL CAP GROWTH FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) July 31, 2021

SECURITY	SHARES		VALUE
INFORMATION TECHNOLOGY - 26.4%
Communications Equipment - 0.8%
Viavi Solutions Inc.		2,956,608	$	49,345,788	*
Electronic Equipment, Instruments & Components - 1.1%
Brain Corp.		598,883		3,521,432	*(a)(b)(c)
nLIGHT Inc.		894,812		31,041,028	*
OSI Systems Inc.		328,591		32,875,530	*
Total Electronic Equipment, Instruments & Components				67,437,990
IT Services - 1.9%
Shift4 Payments Inc., Class A Shares		702,556		62,660,970	*
Wix.com Ltd.		189,699		56,651,709	*
Total IT Services				119,312,679
Semiconductors & Semiconductor Equipment - 5.5%
Allegro MicroSystems Inc.		2,986,379		81,856,648	*
Brooks Automation Inc.		802,423		71,423,671
Lattice Semiconductor Corp.		1,503,224		85,307,962	*
Monolithic Power Systems Inc.		250,898		112,718,436
Total Semiconductors & Semiconductor Equipment				351,306,717
Software - 17.1%
Aspen Technology Inc.		691,366		101,119,191	*
Cornerstone OnDemand Inc.		1,699,510		81,474,509	*
Envestnet Inc.		1,019,575		76,702,627	*
HubSpot Inc.		83,855		49,979,257	*
Jamf Holding Corp.		1,402,029		46,000,572	*
Model N Inc.		2,020,014		65,387,853	*(d)
Momentive Global Inc.		2,837,336		59,584,056	*
New Relic Inc.		817,386		56,465,025	*
PagerDuty Inc.		3,119,178		126,607,435	*
Paycor HCM Inc.		1,209,714		33,267,135	*
Qualys Inc.		301,775		30,648,269	*
SEMrush Holdings Inc., Class A Shares		1,345,677		26,900,083	*
Smartsheet Inc., Class A Shares		612,645		44,447,395	*
Sprout Social Inc., Class A Shares		807,426		71,731,726	*
Varonis Systems Inc.		2,280,294		139,553,993	*
Viant Technology Inc., Class A Shares		978,249		16,913,925	*
Yext Inc.		3,265,770		42,552,983	*
Zeta Global Holdings Corp., Class A Shares		2,561,270		15,444,458	*
Total Software				1,084,780,492
TOTAL INFORMATION TECHNOLOGY				1,672,183,666

See Notes to Schedule of Investments.

    4     ClearBridge Small Cap Growth Fund 2021 Quarterly Report

CLEARBRIDGE SMALL CAP GROWTH FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) July 31, 2021

SECURITY				SHARES		VALUE
MATERIALS - 0.9%
Chemicals - 0.9%
Balchem Corp.					439,924	$	59,341,349
REAL ESTATE - 0.5%
Real Estate Management & Development - 0.5%
Redfin Corp.					584,104		34,210,971	*
TOTAL COMMON STOCKS (Cost - $3,259,054,683)							6,208,559,433
	RATE
PREFERRED STOCKS - 1.0%
HEALTH CARE - 0.4%
Pharmaceuticals - 0.4%
Caris Life Sciences Inc., Series C		—			2,075,035		21,808,618	*(a)(b)(c)
Caris Life Sciences Inc., Series D		—			360,901		3,793,069	*(a)(b)(c)
TOTAL HEALTH CARE							25,601,687
INFORMATION TECHNOLOGY - 0.6%
Electronic Equipment, Instruments & Components - 0.2%
Brain Corp.		—			1,923,387		11,309,515	*(a)(b)(c)
Software - 0.4%
Pride Parent Inc.		—			846,586		22,321,658	*(a)(b)(c)
TOTAL INFORMATION TECHNOLOGY							33,631,173
TOTAL PREFERRED STOCKS (Cost - $38,327,220)							59,232,860
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS (Cost - $3,297,381,903)							6,267,792,293
SHORT-TERM INVESTMENTS - 1.0%
JPMorgan 100% U.S. Treasury Securities Money Market Fund, Institutional Class		0.006	%		51,767,068		51,767,068
Western Asset Premier Institutional U.S. Treasury Reserves, Premium Shares		0.010	%		12,941,767		12,941,767	(d)
TOTAL SHORT-TERM INVESTMENTS (Cost - $64,708,835)							64,708,835
TOTAL INVESTMENTS - 100.0% (Cost - $3,362,090,738)							6,332,501,128
Other Assets in Excess of Liabilities - 0.0%††							740,916
TOTAL NET ASSETS - 100.0%						$	6,333,242,044

See Notes to Schedule of Investments.

ClearBridge Small Cap Growth Fund 2021 Quarterly Report         5

CLEARBRIDGE SMALL CAP GROWTH FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) July 31, 2021

†† Represents less than 0.1%.

* Non-income producing security.

(a) Security is valued in good faith in accordance with procedures approved by the Board of Trustees (Note 1).

(b) Security is valued using significant unobservable inputs (Note 1).

(c) Restricted security (Note 3).

(d) In this instance, as defined in the Investment Company Act of 1940, an “Affiliated Company” represents Fund ownership of at least 5% of the outstanding voting securities of an issuer, or a company which is under common ownership or control with the Fund. At July 31, 2021, the total market value of investments in Affiliated Companies was $78,329,620 and the cost was $87,253,162 (Note 2).

Abbreviation(s) used in this schedule:

ADR — American Depositary Receipts

SCHEDULE OF WRITTEN OPTIONS
Exchange-Traded Written Options
SECURITY	EXPIRATION DATE		STRIKE PRICE		CONTRACTS		NOTIONAL AMOUNT		VALUE
Qualys Inc., Call		8/20/21	$	115.00		765	$	7,769,340	$	(130,050	)
Wix.com Ltd., Call		8/20/21		330.00		266		7,943,824		(155,344	)
TOTAL EXCHANGE-TRADED WRITTEN OPTIONS (Premiums received - $407,942)									$	(285,394	)

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.

    6     ClearBridge Small Cap Growth Fund 2021 Quarterly Report

Notes to Schedule of Investments (unaudited)

1. Organization and significant accounting policies

ClearBridge Small Cap Growth Fund (the “Fund”) is a separate diversified investment series of Legg Mason Partners Investment Trust (prior to September 1, 2021, known as 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 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. 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 Global Fund Valuation Committee (formerly known as Legg Mason North Atlantic Fund Valuation Committee prior to March 1, 2021) (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.

7

Notes to Schedule of Investments (unaudited) (cont’d)

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 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)

8

Notes to Schedule of Investments (unaudited) (cont’d)

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 and liabilities carried at fair value:

ASSETS
DESCRIPTION	QUOTED PRICES (LEVEL 1)		OTHER SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2)		SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)		TOTAL
Long-Term Investments†:
Common Stocks:
Communication Services	$	166,531,574		—	$	26,789,274	$	193,320,848
Information Technology		1,668,662,234		—		3,521,432		1,672,183,666
Other Common Stocks		4,343,054,919		—		—		4,343,054,919
Preferred Stocks:
Health Care		—		—		25,601,687		25,601,687
Information Technology		—		—		33,631,173		33,631,173
Total Long-Term Investments		6,178,248,727		—		89,543,566		6,267,792,293
Short-Term Investments†		64,708,835		—		—		64,708,835
Total Investments	$	6,242,957,562		—	$	89,543,566	$	6,332,501,128
LIABILITIES
DESCRIPTION	QUOTED PRICES (LEVEL 1)		OTHER SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2)		SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)		TOTAL
Other Financial Instruments:
Written Options:
Exchange-Traded Written Options	$	155,344	$	130,050		—	$	285,394

† See Schedule of Investments for additional detailed categorizations.

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining fair value:

Investments in Securities	Balance as of October 31, 2020		Accrued premiums/ discounts		Realized gain (loss)		Change in unrealized appreciation (depreciation)1			Purchases
Common Stocks:
Communication Services		—		—		—	$	(32	)	$	26,789,306
Information Technology		—		—		—		904,313			2,617,119

9

Notes to Schedule of Investments (unaudited) (cont’d)

Investments in Securities	Balance as of October 31, 2020		Accrued premiums/ discounts		Realized gain (loss)		Change in unrealized appreciation (depreciation)1		Purchases
Preferred Stocks:
Health Care	$	5,727,097		—		—	$	16,951,292	$	2,923,298
Information Technology		8,941,984		—		—		3,683,951		21,005,238
Total	$	14,669,081		—		—	$	21,539,524	$	53,334,961

¹  Change in unrealized appreciation (depreciation) includes net unrealized appreciation (depreciation) resulting from changes in investment values during the reporting period and the reversal of previously recorded unrealized appreciation (depreciation) when gains or losses are realized.

Investments in Securities (cont’d)	Sales		Transfers into Level 3		Transfers out of Level 3		Balance as of July 31, 2021		Net change in unrealized appreciation (depreciation) for investments in securities still held at July 31, 20211
Common Stocks:
Communication Services		—		—		—	$	26,789,274	$	(32	)
Information Technology		—		—		—		3,521,432		904,313
Preferred Stocks:
Health Care		—		—		—		25,601,687		16,951,292
Information Technology		—		—		—		33,631,173		3,683,951
Total		—		—		—	$	89,543,566	$	21,539,524

¹  Change in unrealized appreciation (depreciation) includes net unrealized appreciation (depreciation) resulting from changes in investment values during the reporting period and the reversal of previously recorded unrealized appreciation (depreciation) when gains or losses are realized.

2. Transactions with affiliated companies

As defined by the 1940 Act, an affiliated company is one in which the Fund own 5% or more of the outstanding voting securities, or a company which is under common ownership or control. Based on the Fund’s relative ownership, the following companies were considered affiliated companies for all or some portion of the period ended July 31, 2021. The following transactions were effected in such companies for the period ended July 31, 2021.

10

Notes to Schedule of Investments (unaudited) (cont’d)

	Affiliate Value at October 31, 2020		Purchased				Sold				Realized Gain (Loss)		Interest Income		Net Increase (Decrease) in Unrealized Appreciation (Depreciation)			Affiliate Value at July 31, 2021
			Cost		Shares		Cost		Shares
Model N Inc.*	$	26,646,281	$	46,761,602		1,289,294	$	812,022		25,632	$	90,996		—	$	(7,208,008	)	$	65,387,853
Western Asset Premier Institutional U.S. Treasury Reserves, Premium Shares		16,004,810		146,941,001		146,941,001		150,004,044		150,004,044		—	$	1,021		—			12,941,767
	$	42,651,091	$	193,702,603			$	150,816,066			$	90,996	$	1,021	$	(7,208,008	)	$	78,329,620

* This security was not an affiliated company at October 31, 2020.

3. Restricted securities

The following Fund investments are restricted as to resale and, in the absence of readily ascertainable market values, are valued in good faith in accordance with procedures approved by the Board of Trustees.

Security	Number of Shares		Acquisition Date		Cost		Fair Value at 7/31/2021		Value Per Share		Percent of Net Assets
Brain Corp., Common Shares		598,883		3/21	$	2,617,119	$	3,521,432	$	5.88		0.06	%
Brain Corp., Preferred Shares		1,923,387		4/20, 11/20		10,146,825		11,309,515		5.88		0.18
Caris Life Sciences Inc., Series C, Preferred Shares		2,075,035		10/20		5,727,097		21,808,618		10.51		0.34
Caris Life Sciences Inc., Series D, Preferred Shares		360,901		5/21		2,923,298		3,793,069		10.51		0.06
Klaviyo Inc., Common Shares		802,521		5/21		26,789,306		26,789,274		33.38		0.42
Pride Parent Inc., Preferred Shares		846,586		12/20		19,530,000		22,321,658		26.37		0.35
					$	67,733,645	$	89,543,566				1.41	%

11