0000880366 tsr:C000063386Member 2025-12-01 2026-05-31 0000880366 tsr:C000063386Member 2026-05-31 0000880366 tsr:C000063386Member tsr:bench202407222636_7606Member 2026-05-31 0000880366 tsr:C000063386Member tsr:bench202407222640_7606Member 2026-05-31 0000880366 tsr:C000063386Member tsr:bench202407222638_7606Member 2026-05-31 0000880366 tsr:C000063386Member tsr:bench202407222641_7606Member 2026-05-31 0000880366 tsr:C000063386Member tsr:bench202407222637_7606Member 2026-05-31 0000880366 tsr:C000063386Member tsr:bench202407222639_7606Member 2026-05-31 0000880366 tsr:C000063386Member tsr:bench202407222642_7606Member 2026-05-31 0000880366 tsr:C000063386Member tsr:bench202408073396_7606Member 2026-05-31 0000880366 tsr:C000063386Member tsr:bench202407222644_7606Member 2026-05-31 0000880366 tsr:C000063386Member tsr:bench202407222643_7606Member 2026-05-31 0000880366 tsr:C000063386Member tsr:bench202407222645_7606Member 2026-05-31 0000880366 tsr:C000063386Member tsr:bench202407222646_7606Member 2026-05-31 0000880366 2025-12-01 2026-05-31 0000880366 tsr:C000063388Member 2025-12-01 2026-05-31 0000880366 tsr:C000063388Member 2026-05-31 0000880366 tsr:C000063388Member tsr:bench202407222636_7608Member 2026-05-31 0000880366 tsr:C000063388Member tsr:bench202407222640_7608Member 2026-05-31 0000880366 tsr:C000063388Member tsr:bench202407222638_7608Member 2026-05-31 0000880366 tsr:C000063388Member tsr:bench202407222641_7608Member 2026-05-31 0000880366 tsr:C000063388Member tsr:bench202407222637_7608Member 2026-05-31 0000880366 tsr:C000063388Member tsr:bench202407222639_7608Member 2026-05-31 0000880366 tsr:C000063388Member tsr:bench202407222642_7608Member 2026-05-31 0000880366 tsr:C000063388Member tsr:bench202408073396_7608Member 2026-05-31 0000880366 tsr:C000063388Member tsr:bench202407222644_7608Member 2026-05-31 0000880366 tsr:C000063388Member tsr:bench202407222643_7608Member 2026-05-31 0000880366 tsr:C000063388Member tsr:bench202407222645_7608Member 2026-05-31 0000880366 tsr:C000063388Member tsr:bench202407222646_7608Member 2026-05-31 0000880366 tsr:C000063389Member 2025-12-01 2026-05-31 0000880366 tsr:C000063389Member 2026-05-31 0000880366 tsr:C000063389Member tsr:bench202407222636_7607Member 2026-05-31 0000880366 tsr:C000063389Member tsr:bench202407222640_7607Member 2026-05-31 0000880366 tsr:C000063389Member tsr:bench202407222638_7607Member 2026-05-31 0000880366 tsr:C000063389Member tsr:bench202407222641_7607Member 2026-05-31 0000880366 tsr:C000063389Member tsr:bench202407222637_7607Member 2026-05-31 0000880366 tsr:C000063389Member tsr:bench202407222639_7607Member 2026-05-31 0000880366 tsr:C000063389Member tsr:bench202407222642_7607Member 2026-05-31 0000880366 tsr:C000063389Member tsr:bench202408073396_7607Member 2026-05-31 0000880366 tsr:C000063389Member tsr:bench202407222644_7607Member 2026-05-31 0000880366 tsr:C000063389Member tsr:bench202407222643_7607Member 2026-05-31 0000880366 tsr:C000063389Member tsr:bench202407222645_7607Member 2026-05-31 0000880366 tsr:C000063389Member tsr:bench202407222646_7607Member 2026-05-31 iso4217:USD pure iso4217:USD shares false 0000880366 N-1A N-CSRS Legg Mason Partners Investment Trust 2026-05-31 Franklin U.S. Large Cap Equity Fund Class FI LMUSX 2026-05-31 <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">This </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">semi-annual shareholder report</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;"> contains important information about </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">Franklin U.S. Large Cap Equity Fund for the period </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">December 1, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">2025, to </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">May 31, 2026.</span> semi-annual shareholder report <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">You can find additional information about the Fund at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">https://www.franklintempleton.com/regulatory-fund-documents</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">. You can also </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">request this information by contacting us at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">877-6LM-FUND/656-3863</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">.</span> https://www.franklintempleton.com/regulatory-fund-documents 877-6LM-FUND/656-3863 <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#1447FF;;"><b>WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? </b></span></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">(based on a hypothetical $10,000 investment)</span></div><div> <table cellspacing="0" style="width:98%;cellspacing:0;border-top:1.5pt solid #E6FAFF;border-left:1.5pt solid #E6FAFF; border-right:1.5pt solid #E6FAFF; border-bottom:1.5pt solid #E6FAFF; margin-left:7.9pt;"> <tr style="height:1px;"> <td style="height:1px;width:50%;background-color:#E6FAFF;"></td> <td style="height:1px;width:22.33812949640288%;background-color:#E6FAFF;"></td> <td style="height:1px;width:27.661870503597125%;background-color:#E6FAFF;"></td> </tr> <tr> <td colspan="1" style="background-color:#E6FAFF;;border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Class Name</b></span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Costs of a $10,000 </b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>investment</b></span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Costs paid as a percentage of a </b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>$10,000 investment</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><sup>*</sup></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:7.5pt;;"><sup>,</sup></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><sup>†</sup></span> </div> </td> </tr> <tr> <td colspan="1" style="background-color:#E6FAFF;;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Class FI</span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">$55</span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">1.05%</span></div> </td> </tr> </table></div> 55 0.0105 <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#1447FF;;"><b>KEY FUND STATISTICS </b></span></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">(as of </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">May 31, 2026)</span></div><div> <table cellspacing="0" style="width:98%;cellspacing:0;border-top:1.5pt solid #6B6B6B;margin-left:7.75pt;border-bottom:1.5pt solid #6B6B6B;margin-top:10px;"> <tr style="height:1px;"> <td style="height:1px;width:74.41007194244604%;"></td> <td style="height:1px;width:25.58992805755396%;"></td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Total Net Assets</b></span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">$532,087,360</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Total Number of Portfolio Holdings</b></span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">120</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Portfolio Turnover Rate</b></span></div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">22%</span></div> </td> </tr> </table></div>

532087360

120

0.22

<div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#1447FF;;"><b>WHAT DID THE FUND INVEST IN? </b></span></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">(as of </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">May 31, 2026)</span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;color:#161616;;"><b>Portfolio Composition</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;color:#161616;;"><sup>*</sup></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;color:#161616;;"><b> </b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;color:#161616;;"><b>(% of Total Investments)</b></span></div><div><img alt="image" src="ts7606img003.jpg" style="width:96.41294838145232%"/></div> https://www.franklintempleton.com/regulatory-fund-documents 0.378 0.116 0.112 0.103 0.101 0.077 0.045 0.025 0.018 0.009 0.006 0.010 Franklin U.S. Large Cap Equity Fund Class I LMTIX 2026-05-31 <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">This </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">semi-annual shareholder report</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;"> contains important information about </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">Franklin U.S. Large Cap Equity Fund for the period </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">December 1, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">2025, to </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">May 31, 2026.</span> semi-annual shareholder report <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">You can find additional information about the Fund at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">https://www.franklintempleton.com/regulatory-fund-documents</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">. You can also </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">request this information by contacting us at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">877-6LM-FUND/656-3863</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">.</span> https://www.franklintempleton.com/regulatory-fund-documents 877-6LM-FUND/656-3863 <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#1447FF;;"><b>WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? </b></span></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">(based on a hypothetical $10,000 investment)</span></div><div> <table cellspacing="0" style="width:98%;cellspacing:0;border-top:1.5pt solid #E6FAFF;border-left:1.5pt solid #E6FAFF; border-right:1.5pt solid #E6FAFF; border-bottom:1.5pt solid #E6FAFF; margin-left:7.9pt;"> <tr style="height:1px;"> <td style="height:1px;width:50%;background-color:#E6FAFF;"></td> <td style="height:1px;width:22.33812949640288%;background-color:#E6FAFF;"></td> <td style="height:1px;width:27.661870503597125%;background-color:#E6FAFF;"></td> </tr> <tr> <td colspan="1" style="background-color:#E6FAFF;;border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Class Name</b></span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Costs of a $10,000 </b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>investment</b></span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Costs paid as a percentage of a </b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>$10,000 investment</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><sup>*</sup></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:7.5pt;;"><sup>,</sup></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><sup>†</sup></span> </div> </td> </tr> <tr> <td colspan="1" style="background-color:#E6FAFF;;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Class I</span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">$42</span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.80%</span></div> </td> </tr> </table></div> 42 0.0080 <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#1447FF;;"><b>KEY FUND STATISTICS </b></span></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">(as of </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">May 31, 2026)</span></div><div> <table cellspacing="0" style="width:98%;cellspacing:0;border-top:1.5pt solid #6B6B6B;margin-left:7.75pt;border-bottom:1.5pt solid #6B6B6B;margin-top:10px;"> <tr style="height:1px;"> <td style="height:1px;width:74.41007194244604%;"></td> <td style="height:1px;width:25.58992805755396%;"></td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Total Net Assets</b></span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">$532,087,360</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Total Number of Portfolio Holdings</b></span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">120</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Portfolio Turnover Rate</b></span></div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">22%</span></div> </td> </tr> </table></div>

532087360

120

0.22

<div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#1447FF;;"><b>WHAT DID THE FUND INVEST IN? </b></span></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">(as of </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">May 31, 2026)</span></div><div><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;color:#161616;;"><b>Portfolio Composition</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;color:#161616;;"><sup>*</sup></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;color:#161616;;"><b> </b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;color:#161616;;"><b>(% of Total Investments)</b></span></div><div><img alt="image" src="ts7608img003.jpg" style="width:96.41294838145232%"/></div> https://www.franklintempleton.com/regulatory-fund-documents 0.378 0.116 0.112 0.103 0.101 0.077 0.045 0.025 0.018 0.009 0.006 0.010 Franklin U.S. Large Cap Equity Fund Class IS LMISX 2026-05-31 <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">This </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">semi-annual shareholder report</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;"> contains important information about </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">Franklin U.S. Large Cap Equity Fund for the period </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">December 1, </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">2025, to </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">May 31, 2026.</span> semi-annual shareholder report <span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">You can find additional information about the Fund at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">https://www.franklintempleton.com/regulatory-fund-documents</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">. You can also </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">request this information by contacting us at </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">877-6LM-FUND/656-3863</span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#161616;;">.</span> https://www.franklintempleton.com/regulatory-fund-documents 877-6LM-FUND/656-3863 <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#1447FF;;"><b>WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? </b></span></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">(based on a hypothetical $10,000 investment)</span></div><div> <table cellspacing="0" style="width:98%;cellspacing:0;border-top:1.5pt solid #E6FAFF;border-left:1.5pt solid #E6FAFF; border-right:1.5pt solid #E6FAFF; border-bottom:1.5pt solid #E6FAFF; margin-left:7.9pt;"> <tr style="height:1px;"> <td style="height:1px;width:50%;background-color:#E6FAFF;"></td> <td style="height:1px;width:22.33812949640288%;background-color:#E6FAFF;"></td> <td style="height:1px;width:27.661870503597125%;background-color:#E6FAFF;"></td> </tr> <tr> <td colspan="1" style="background-color:#E6FAFF;;border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Class Name</b></span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Costs of a $10,000 </b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>investment</b></span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;border-bottom:1.5pt solid #1447FF;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>Costs paid as a percentage of a </b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><b>$10,000 investment</b></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><sup>*</sup></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:7.5pt;;"><sup>,</sup></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"><sup>†</sup></span> </div> </td> </tr> <tr> <td colspan="1" style="background-color:#E6FAFF;;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;">Class IS</span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">$37</span></div> </td> <td colspan="1" style="background-color:#E6FAFF;;white-space:nowrap;vertical-align:bottom"> <div style="background-color:#E6FAFF;padding-left:2pt;padding-top:1.5pt;padding-bottom:0;align:center;text-align:center;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">0.70%</span></div> </td> </tr> </table></div> 37 0.0070 <div><span style="text-transform:uppercase;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:12.024pt;text-transform:uppercase;color:#1447FF;;"><b>KEY FUND STATISTICS </b></span></span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">(as of </span><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.824pt;color:#2D2D2D;;">May 31, 2026)</span></div><div> <table cellspacing="0" style="width:98%;cellspacing:0;border-top:1.5pt solid #6B6B6B;margin-left:7.75pt;border-bottom:1.5pt solid #6B6B6B;margin-top:10px;"> <tr style="height:1px;"> <td style="height:1px;width:74.41007194244604%;"></td> <td style="height:1px;width:25.58992805755396%;"></td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Total Net Assets</b></span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">$532,087,360</span></div> </td> </tr> <tr> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Total Number of Portfolio Holdings</b></span></div> </td> <td colspan="1" style="border-bottom:0.75pt solid #6B6B6B;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">120</span></div> </td> </tr> <tr> <td colspan="1" style="vertical-align:top"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:left;text-align:left;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;color:#2D2D2D;;"><b>Portfolio Turnover Rate</b></span></div> </td> <td colspan="1" style="white-space:nowrap;vertical-align:bottom"> <div style="background-color:#FFFFFF;padding-left:2pt;padding-top:1pt;padding-bottom:0;align:right;text-align:right;padding-right:2pt;font-family:Arial, Helvetica, sans-serif;font-size:10pt;margin-top:1pt;margin-bottom:0;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;">22%</span></div> </td> </tr> </table></div>

532087360

120

0.22