USAA INVESTMENT TRUST
NSAR-B, 1997-07-29
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<PAGE>      PAGE  1
000 B000000 05/31/97
000 C000000 0000745903
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 USAA INVESTMENT TRUST
001 B000000 811-4019
001 C000000 2104984876
002 A000000 10750 ROBERT F. MCDERMOTT FREEWAY
002 B000000 SAN ANTONIO
002 C000000 TX
002 D010000 78288
002 D020000 0227
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000 11
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   40
019 C00AA00 USAAINVMCO
020 A000001 UBS SECURITIES INC.
020 B000001 13-2932996
020 C000001    436
020 A000002 CAPEL (JAMES) INCORPORATED
020 B000002 52-1348224
020 C000002    324
020 A000003 ING BARING SECURITIES INC.
020 B000003 04-2455153
020 C000003    275
020 A000004 S.G. WARBURG & CO. INC.
020 B000004 13-3340045
020 C000004    213
020 A000005 CREDIT LYONNAIS SECURITIES (USA)
020 B000005 13-2602298
020 C000005    181
020 A000006 ABN AMRO SECURITIES, INC.
020 B000006 13-3227945
020 C000006    164
020 A000007 DEUTSCHE MORGAN, GRENFELL/C.J. LAWRENCE CORP.
020 B000007 13-2730828
020 C000007    163
020 A000008 GOLDMAN, SACHS & COMPANY
020 B000008 13-5108880
020 C000008    149
<PAGE>      PAGE  2
020 A000009 BERG, (ALFRED), INC.
020 B000009 13-3831200
020 C000009    140
020 A000010 ROBERT FLEMING, INC.
020 B000010 13-3298866
020 C000010    138
021  000000     4388
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 Y
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054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
058 A00AA00 N
059  00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061  00AA00     3000
077 A000000 Y
077 B000000 Y
078  000000 N
080 A00AA00 AETNA CASUALTY & SURETY COMPANY
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081 A00AA00 Y
081 B00AA00  29
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083 A00AA00 N
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<PAGE>      PAGE  3
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070 F020100 N
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
076  000100     0.00
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070 E010200 N
070 E020200 N
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070 G020200 N
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<PAGE>      PAGE  6
070 O010200 Y
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<PAGE>      PAGE  7
063 A000300   0
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<PAGE>      PAGE  8
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070 E020400 N
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070 F020400 N
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<PAGE>      PAGE  9
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
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070 L010400 N
070 L020400 N
070 M010400 N
070 M020400 N
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<PAGE>      PAGE  10
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064 A000500 N
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<PAGE>      PAGE  11
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<PAGE>      PAGE  12
062 A000700 N
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<PAGE>      PAGE  13
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
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<PAGE>      PAGE  16
069  000900 N
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070 I020900 N
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070 N020900 N
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<PAGE>      PAGE  17
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<PAGE>      PAGE  18
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<PAGE>      PAGE  19
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062 D001100   0.0
062 E001100   0.0
062 F001100   0.0
062 G001100   0.0
062 H001100   0.0
062 I001100   0.0
062 J001100   0.0
062 K001100   0.0
062 L001100   0.0
062 M001100   0.0
062 N001100   0.0
062 O001100   0.0
062 P001100   0.0
062 Q001100   0.0
062 R001100   0.0
070 A011100 Y
070 A021100 N
070 B011100 Y
070 B021100 N
070 C011100 Y
070 C021100 N
070 D011100 Y
070 D021100 N
070 E011100 Y
070 E021100 N
070 F011100 Y
070 F021100 N
070 G011100 Y
070 G021100 N
070 H011100 Y
070 H021100 N
070 I011100 N
070 I021100 N
070 J011100 Y
070 J021100 Y
<PAGE>      PAGE  20
070 K011100 Y
070 K021100 Y
070 L011100 Y
070 L021100 Y
070 M011100 Y
070 M021100 Y
070 N011100 Y
070 N021100 N
070 O011100 Y
070 O021100 N
070 P011100 Y
070 P021100 N
070 Q011100 N
070 Q021100 N
070 R011100 N
070 R021100 N
071 A001100    177014
071 B001100     80259
071 C001100    128404
071 D001100   63
072 A001100 12
072 B001100     2234
072 C001100     1422
072 D001100        0
072 E001100        0
072 F001100      991
072 G001100        0
072 H001100        0
074 A001100      306
074 B001100        0
074 C001100      550
074 D001100    37137
074 E001100     1445
074 F001100   154374
074 G001100        0
074 H001100        0
074 I001100        0
074 J001100     4947
074 K001100        0
074 L001100     1256
074 M001100        0
074 N001100   200015
074 O001100     5717
074 P001100      160
074 Q001100        0
074 R011100        0
074 R021100        0
074 R031100        0
074 R041100      217
074 S001100        0
074 T001100   193921
<PAGE>      PAGE  21
074 U011100    14800
074 U021100        0
074 V011100    13.10
074 V021100     0.00
074 W001100   0.0000
074 X001100    22932
074 Y001100        0
075 A001100        0
075 B001100   132291
076  001100     0.00
SIGNATURE   MICHAEL J.C. ROTH                            
TITLE       PRESIDENT           
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000745903
<NAME> USAA INVESTMENT TRUST
<SERIES>
   <NUMBER> 1
   <NAME> CORNERSTONE STRATEGY FUND
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          MAY-31-1997
<PERIOD-END>                               MAY-31-1997
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<INVESTMENTS-AT-VALUE>                       1,265,389
<RECEIVABLES>                                   10,715
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<PAYABLE-FOR-SECURITIES>                        13,651
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        1,562
<TOTAL-LIABILITIES>                             15,213
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       937,668
<SHARES-COMMON-STOCK>                           45,179
<SHARES-COMMON-PRIOR>                           40,667
<ACCUMULATED-NII-CURRENT>                       11,014
<OVERDISTRIBUTION-NII>                               0
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<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       275,132
<NET-ASSETS>                                 1,263,355
<DIVIDEND-INCOME>                               27,012
<INTEREST-INCOME>                               17,626
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                (12,048)
<NET-INVESTMENT-INCOME>                         32,590
<REALIZED-GAINS-CURRENT>                        48,683
<APPREC-INCREASE-CURRENT>                       98,149
<NET-CHANGE-FROM-OPS>                          179,422
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (33,061)
<DISTRIBUTIONS-OF-GAINS>                      (34,550)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          7,427
<NUMBER-OF-SHARES-REDEEMED>                    (5,543)
<SHARES-REINVESTED>                              2,628
<NET-CHANGE-IN-ASSETS>                         227,511
<ACCUMULATED-NII-PRIOR>                         11,354
<ACCUMULATED-GAINS-PRIOR>                       25,539
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            8,495
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<GROSS-EXPENSE>                                 12,048
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<PER-SHARE-NAV-BEGIN>                            25.47
<PER-SHARE-NII>                                   0.74
<PER-SHARE-GAIN-APPREC>                           3.37
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<PER-SHARE-DISTRIBUTIONS>                       (0.84)
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<PER-SHARE-NAV-END>                              27.96
<EXPENSE-RATIO>                                   1.06
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000745903
<NAME> USAA INVESTMENT TRUST
<SERIES>
   <NUMBER> 2
   <NAME> GOLD FUND
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          MAY-31-1997
<PERIOD-END>                               MAY-31-1997
<INVESTMENTS-AT-COST>                          125,113
<INVESTMENTS-AT-VALUE>                         122,181
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<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 122,386
<PAYABLE-FOR-SECURITIES>                            95
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        1,122
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       199,152
<SHARES-COMMON-STOCK>                           14,982
<SHARES-COMMON-PRIOR>                           15,018
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<OVERDISTRIBUTION-NII>                               0
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<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       (2,932)
<NET-ASSETS>                                   121,169
<DIVIDEND-INCOME>                                1,384
<INTEREST-INCOME>                                  208
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 (1,742)
<NET-INVESTMENT-INCOME>                          (150)
<REALIZED-GAINS-CURRENT>                       (8,399)
<APPREC-INCREASE-CURRENT>                     (35,962)
<NET-CHANGE-FROM-OPS>                         (44,511)
<EQUALIZATION>                                       0
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<DISTRIBUTIONS-OF-GAINS>                             0
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<NUMBER-OF-SHARES-SOLD>                         10,594
<NUMBER-OF-SHARES-REDEEMED>                   (10,630)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                        (45,898)
<ACCUMULATED-NII-PRIOR>                            (5)
<ACCUMULATED-GAINS-PRIOR>                     (73,989)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              997
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  1,742
<AVERAGE-NET-ASSETS>                           133,250
<PER-SHARE-NAV-BEGIN>                            11.12
<PER-SHARE-NII>                                  (.01)
<PER-SHARE-GAIN-APPREC>                         (3.02)
<PER-SHARE-DIVIDEND>                              0.00
<PER-SHARE-DISTRIBUTIONS>                         0.00
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                               8.09
<EXPENSE-RATIO>                                   1.31
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000745903
<NAME> USAA INVESTMENT TRUST
<SERIES>
   <NUMBER> 3
   <NAME> INTERNATIONAL FUND
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          MAY-31-1997
<PERIOD-END>                               MAY-31-1997
<INVESTMENTS-AT-COST>                          488,302
<INVESTMENTS-AT-VALUE>                         614,995
<RECEIVABLES>                                    5,943
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<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 625,510
<PAYABLE-FOR-SECURITIES>                         7,947
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          987
<TOTAL-LIABILITIES>                              8,934
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       470,089
<SHARES-COMMON-STOCK>                           29,320
<SHARES-COMMON-PRIOR>                           22,339
<ACCUMULATED-NII-CURRENT>                        3,047
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         16,797
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       126,643
<NET-ASSETS>                                   616,576
<DIVIDEND-INCOME>                                8,178
<INTEREST-INCOME>                                1,342
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 (5,532)
<NET-INVESTMENT-INCOME>                          3,988
<REALIZED-GAINS-CURRENT>                        24,352
<APPREC-INCREASE-CURRENT>                       55,934
<NET-CHANGE-FROM-OPS>                           84,274
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      (4,778)
<DISTRIBUTIONS-OF-GAINS>                      (12,464)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         12,893
<NUMBER-OF-SHARES-REDEEMED>                    (6,597)
<SHARES-REINVESTED>                                685
<NET-CHANGE-IN-ASSETS>                         198,581
<ACCUMULATED-NII-PRIOR>                          3,646
<ACCUMULATED-GAINS-PRIOR>                        5,100
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            3,806
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  5,532
<AVERAGE-NET-ASSETS>                           506,819
<PER-SHARE-NAV-BEGIN>                            18.71
<PER-SHARE-NII>                                   0.15
<PER-SHARE-GAIN-APPREC>                           2.87
<PER-SHARE-DIVIDEND>                            (0.20)
<PER-SHARE-DISTRIBUTIONS>                       (0.50)
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                              21.03
<EXPENSE-RATIO>                                   1.09
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000745903
<NAME> USAA INVESTMENT TRUST
<SERIES>
   <NUMBER> 4
   <NAME> GROWTH & TAX STRATEGY FUND
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          MAY-31-1997
<PERIOD-END>                               MAY-31-1997
<INVESTMENTS-AT-COST>                          149,680
<INVESTMENTS-AT-VALUE>                         183,295
<RECEIVABLES>                                    2,284
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<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 185,716
<PAYABLE-FOR-SECURITIES>                             0
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<OTHER-ITEMS-LIABILITIES>                          212
<TOTAL-LIABILITIES>                                212
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       145,854
<SHARES-COMMON-STOCK>                           12,251
<SHARES-COMMON-PRIOR>                           11,363
<ACCUMULATED-NII-CURRENT>                        1,177
<OVERDISTRIBUTION-NII>                               0
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<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        33,615
<NET-ASSETS>                                   185,504
<DIVIDEND-INCOME>                                2,425
<INTEREST-INCOME>                                5,068
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 (1,265)
<NET-INVESTMENT-INCOME>                          6,228
<REALIZED-GAINS-CURRENT>                         5,127
<APPREC-INCREASE-CURRENT>                       11,566
<NET-CHANGE-FROM-OPS>                           22,921
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      (6,142)
<DISTRIBUTIONS-OF-GAINS>                       (4,105)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          1,771
<NUMBER-OF-SHARES-REDEEMED>                    (1,559)
<SHARES-REINVESTED>                                676
<NET-CHANGE-IN-ASSETS>                          25,114
<ACCUMULATED-NII-PRIOR>                          1,091
<ACCUMULATED-GAINS-PRIOR>                        3,836
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              852
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  1,265
<AVERAGE-NET-ASSETS>                           170,326
<PER-SHARE-NAV-BEGIN>                            14.11
<PER-SHARE-NII>                                   0.52
<PER-SHARE-GAIN-APPREC>                           1.39
<PER-SHARE-DIVIDEND>                            (0.52)
<PER-SHARE-DISTRIBUTIONS>                       (0.36)
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                              15.14
<EXPENSE-RATIO>                                   0.74
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000745903
<NAME> USAA INVESTMENT TRUST
<SERIES>
   <NUMBER> 5
   <NAME> GNMA TRUST
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          MAY-31-1997
<PERIOD-END>                               MAY-31-1997
<INVESTMENTS-AT-COST>                          304,536
<INVESTMENTS-AT-VALUE>                         307,934
<RECEIVABLES>                                    1,844
<ASSETS-OTHER>                                      17
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 309,795
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          997
<TOTAL-LIABILITIES>                                997
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       319,145
<SHARES-COMMON-STOCK>                           31,034
<SHARES-COMMON-PRIOR>                           30,903
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                       (13,745)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         3,398
<NET-ASSETS>                                   308,798
<DIVIDEND-INCOME>                                    0
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<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   (923)
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<REALIZED-GAINS-CURRENT>                       (2,674)
<APPREC-INCREASE-CURRENT>                        8,550
<NET-CHANGE-FROM-OPS>                           27,010
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (21,134)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          5,656
<NUMBER-OF-SHARES-REDEEMED>                    (7,007)
<SHARES-REINVESTED>                              1,482
<NET-CHANGE-IN-ASSETS>                           7,209
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                     (11,071)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    923
<AVERAGE-NET-ASSETS>                           304,608
<PER-SHARE-NAV-BEGIN>                             9.76
<PER-SHARE-NII>                                   0.69
<PER-SHARE-GAIN-APPREC>                           0.19
<PER-SHARE-DIVIDEND>                            (0.69)
<PER-SHARE-DISTRIBUTIONS>                         0.00
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                               9.95
<EXPENSE-RATIO>                                   0.30
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000745903
<NAME> USAA INVESTMENT TRUST
<SERIES>
   <NUMBER> 6
   <NAME> TREASURY MONEY MARKET TRUST
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          MAY-31-1997
<PERIOD-END>                               MAY-31-1997
<INVESTMENTS-AT-COST>                           87,760
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<PAYABLE-FOR-SECURITIES>                             0
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        88,612
<SHARES-COMMON-STOCK>                           88,612
<SHARES-COMMON-PRIOR>                           76,777
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                    88,612
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                4,490
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   (315)
<NET-INVESTMENT-INCOME>                          4,175
<REALIZED-GAINS-CURRENT>                             0
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                            4,175
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      (4,175)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         83,247
<NUMBER-OF-SHARES-REDEEMED>                   (75,308)
<SHARES-REINVESTED>                              3,896
<NET-CHANGE-IN-ASSETS>                          11,835
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              105
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    331
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<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                   0.05
<PER-SHARE-GAIN-APPREC>                           0.00
<PER-SHARE-DIVIDEND>                            (0.05)
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<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                               1.00
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<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000745903
<NAME> USAA INVESTMENT TRUST
<SERIES>
   <NUMBER> 7
   <NAME> WORLD GROWTH FUND
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          MAY-31-1997
<PERIOD-END>                               MAY-31-1997
<INVESTMENTS-AT-COST>                          235,375
<INVESTMENTS-AT-VALUE>                         307,638
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<PAYABLE-FOR-SECURITIES>                         3,488
<SENIOR-LONG-TERM-DEBT>                              0
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<TOTAL-LIABILITIES>                              4,102
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       224,643
<SHARES-COMMON-STOCK>                           18,221
<SHARES-COMMON-PRIOR>                           17,240
<ACCUMULATED-NII-CURRENT>                        1,048
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          8,861
<OVERDISTRIBUTION-GAINS>                             0
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<NET-ASSETS>                                   306,799
<DIVIDEND-INCOME>                                4,264
<INTEREST-INCOME>                                  611
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 (3,201)
<NET-INVESTMENT-INCOME>                          1,674
<REALIZED-GAINS-CURRENT>                        16,888
<APPREC-INCREASE-CURRENT>                       23,627
<NET-CHANGE-FROM-OPS>                           42,189
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      (2,331)
<DISTRIBUTIONS-OF-GAINS>                      (15,223)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          5,168
<NUMBER-OF-SHARES-REDEEMED>                    (5,363)
<SHARES-REINVESTED>                              1,176
<NET-CHANGE-IN-ASSETS>                          39,607
<ACCUMULATED-NII-PRIOR>                          1,639
<ACCUMULATED-GAINS-PRIOR>                        7,262
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            1,995
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  3,201
<AVERAGE-NET-ASSETS>                           267,220
<PER-SHARE-NAV-BEGIN>                            15.50
<PER-SHARE-NII>                                   0.15
<PER-SHARE-GAIN-APPREC>                           2.24
<PER-SHARE-DIVIDEND>                            (0.14)
<PER-SHARE-DISTRIBUTIONS>                       (0.91)
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                              16.84
<EXPENSE-RATIO>                                   1.20
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<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000745903
<NAME> USAA INVESTMENT TRUST
<SERIES>
   <NUMBER> 8
   <NAME> EMERGING MARKETS FUND
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          MAY-31-1997
<PERIOD-END>                               MAY-31-1997
<INVESTMENTS-AT-COST>                           91,630
<INVESTMENTS-AT-VALUE>                         100,354
<RECEIVABLES>                                      943
<ASSETS-OTHER>                                     529
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 101,826
<PAYABLE-FOR-SECURITIES>                         5,934
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          248
<TOTAL-LIABILITIES>                              6,182
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        85,405
<SHARES-COMMON-STOCK>                            8,297
<SHARES-COMMON-PRIOR>                            4,608
<ACCUMULATED-NII-CURRENT>                         (11)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          1,532
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         8,718
<NET-ASSETS>                                    95,644
<DIVIDEND-INCOME>                                  946
<INTEREST-INCOME>                                  157
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 (1,085)
<NET-INVESTMENT-INCOME>                             18
<REALIZED-GAINS-CURRENT>                         1,504
<APPREC-INCREASE-CURRENT>                        4,670
<NET-CHANGE-FROM-OPS>                            6,192
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                       (2,391)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          7,453
<NUMBER-OF-SHARES-REDEEMED>                    (3,994)
<SHARES-REINVESTED>                                230
<NET-CHANGE-IN-ASSETS>                          44,329
<ACCUMULATED-NII-PRIOR>                           (11)
<ACCUMULATED-GAINS-PRIOR>                          395
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              600
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  1,085
<AVERAGE-NET-ASSETS>                            61,438
<PER-SHARE-NAV-BEGIN>                            11.13
<PER-SHARE-NII>                                    .01
<PER-SHARE-GAIN-APPREC>                            .89
<PER-SHARE-DIVIDEND>                              0.00
<PER-SHARE-DISTRIBUTIONS>                       (0.50)
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                              11.53
<EXPENSE-RATIO>                                   1.81
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000745903
<NAME> USAA INVESTMENT TRUST
<SERIES>
   <NUMBER> 9
   <NAME> INCOME STRATEGY FUND
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          MAY-31-1997
<PERIOD-END>                               MAY-31-1997
<INVESTMENTS-AT-COST>                           13,105
<INVESTMENTS-AT-VALUE>                          13,699
<RECEIVABLES>                                      214
<ASSETS-OTHER>                                      10
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  13,923
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           45
<TOTAL-LIABILITIES>                                 45
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        13,170
<SHARES-COMMON-STOCK>                            1,280
<SHARES-COMMON-PRIOR>                            1,210
<ACCUMULATED-NII-CURRENT>                          113
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              1
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           594
<NET-ASSETS>                                    13,878
<DIVIDEND-INCOME>                                   69
<INTEREST-INCOME>                                  685
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   (130)
<NET-INVESTMENT-INCOME>                            624
<REALIZED-GAINS-CURRENT>                            52
<APPREC-INCREASE-CURRENT>                          998
<NET-CHANGE-FROM-OPS>                            1,674
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        (620)
<DISTRIBUTIONS-OF-GAINS>                          (58)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            366
<NUMBER-OF-SHARES-REDEEMED>                      (333)
<SHARES-REINVESTED>                                 37
<NET-CHANGE-IN-ASSETS>                           1,705
<ACCUMULATED-NII-PRIOR>                            109
<ACCUMULATED-GAINS-PRIOR>                            7
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                               65
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    196
<AVERAGE-NET-ASSETS>                            12,999
<PER-SHARE-NAV-BEGIN>                            10.06
<PER-SHARE-NII>                                   0.50
<PER-SHARE-GAIN-APPREC>                           0.83
<PER-SHARE-DIVIDEND>                            (0.50)
<PER-SHARE-DISTRIBUTIONS>                       (0.05)
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                              10.84
<EXPENSE-RATIO>                                   1.00
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000745903
<NAME> USAA INVESTMENT TRUST
<SERIES>
   <NUMBER> 10
   <NAME> BALANCED STRATEGY FUND
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          MAY-31-1997
<PERIOD-END>                               MAY-31-1997
<INVESTMENTS-AT-COST>                           31,486
<INVESTMENTS-AT-VALUE>                          35,532
<RECEIVABLES>                                      339
<ASSETS-OTHER>                                      17
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  35,888
<PAYABLE-FOR-SECURITIES>                         1,196
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           91
<TOTAL-LIABILITIES>                              1,287
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        29,992
<SHARES-COMMON-STOCK>                            2,857
<SHARES-COMMON-PRIOR>                            1,837
<ACCUMULATED-NII-CURRENT>                          184
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            379
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         4,046
<NET-ASSETS>                                    34,601
<DIVIDEND-INCOME>                                  340
<INTEREST-INCOME>                                  782
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   (316)
<NET-INVESTMENT-INCOME>                            806
<REALIZED-GAINS-CURRENT>                           405
<APPREC-INCREASE-CURRENT>                        3,525
<NET-CHANGE-FROM-OPS>                            4,736
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        (733)
<DISTRIBUTIONS-OF-GAINS>                          (58)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          1,316
<NUMBER-OF-SHARES-REDEEMED>                      (350)
<SHARES-REINVESTED>                                 54
<NET-CHANGE-IN-ASSETS>                          15,343
<ACCUMULATED-NII-PRIOR>                            111
<ACCUMULATED-GAINS-PRIOR>                           32
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              190
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    354
<AVERAGE-NET-ASSETS>                            25,524
<PER-SHARE-NAV-BEGIN>                            10.49
<PER-SHARE-NII>                                    .33
<PER-SHARE-GAIN-APPREC>                           1.65
<PER-SHARE-DIVIDEND>                            (0.33)
<PER-SHARE-DISTRIBUTIONS>                       (0.03)
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                              12.11
<EXPENSE-RATIO>                                   1.25
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000745903
<NAME> USAA INVESTMENT TRUST
<SERIES>
   <NUMBER> 11
   <NAME> GROWTH STRATEGY FUND
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          MAY-31-1997
<PERIOD-END>                               MAY-31-1997
<INVESTMENTS-AT-COST>                          171,518
<INVESTMENTS-AT-VALUE>                         193,506
<RECEIVABLES>                                    6,203
<ASSETS-OTHER>                                     306
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 200,015
<PAYABLE-FOR-SECURITIES>                         5,717
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          377
<TOTAL-LIABILITIES>                              6,094
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       172,448
<SHARES-COMMON-STOCK>                           14,800
<SHARES-COMMON-PRIOR>                            6,843
<ACCUMULATED-NII-CURRENT>                        1,057
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        (1,570)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        21,986
<NET-ASSETS>                                   193,921
<DIVIDEND-INCOME>                                1,422
<INTEREST-INCOME>                                2,234
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 (1,729)
<NET-INVESTMENT-INCOME>                          1,927
<REALIZED-GAINS-CURRENT>                           951
<APPREC-INCREASE-CURRENT>                       11,016
<NET-CHANGE-FROM-OPS>                           13,894
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      (1,215)
<DISTRIBUTIONS-OF-GAINS>                       (3,874)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         11,224
<NUMBER-OF-SHARES-REDEEMED>                    (3,679)
<SHARES-REINVESTED>                                412
<NET-CHANGE-IN-ASSETS>                         106,733
<ACCUMULATED-NII-PRIOR>                            338
<ACCUMULATED-GAINS-PRIOR>                        1,360
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              991
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  1,729
<AVERAGE-NET-ASSETS>                           132,291
<PER-SHARE-NAV-BEGIN>                            12.74
<PER-SHARE-NII>                                    .15
<PER-SHARE-GAIN-APPREC>                            .77
<PER-SHARE-DIVIDEND>                            (0.12)
<PER-SHARE-DISTRIBUTIONS>                       (0.44)
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                              13.10
<EXPENSE-RATIO>                                   1.31
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>


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