USAA INVESTMENT TRUST
24F-2NT, 1999-07-22
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                                UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

                                 FORM 24F-2
                       Annual Notice of Securities Sold
                            Pursuant to Rule 24F-2


Read  instructions at  end  of Form before preparing Form. Please print or type.


1.    Name and address of issuer:  USAA INVESTMENT TRUST
                                   10750 Robert F. McDermott Freeway
                                   San Antonio, Texas 78288

2.    The  name of each series or class of securities  for  which  this  Form is
      filed (If the Form is being filed for all series and classes of securities
      of the issuer, check the box but do not list series or classes):

              |X|

3.    Investment Company Act File Number:     811-4019

      Securities Act File Number:             2-91069

4(a). Last day of the fiscal year for which this Form is filed:   May 31, 1999

4(b). Check box if this Form is being filed late (ie.,  more  than  90  calendar
      days after the end of the issuer's fiscal year).  (See Instruction A.2):
      NOT APPLICABLE

4(c). Check  box  if  this is the last time the issuer will be filing this Form:
      NOT APPLICABLE

5.    Calculation of registration fee:

      (i)    Aggregate sale price of securities
             sold during the fiscal year in
             pursuant to section 24(f):                          $ 1,372,532,862

      (ii)   Aggregate price of securities
             redeemed or repurchased during
             the fiscal year:                  $ 1,317,286,810

      (iii)  Aggregate price of securities
             redeemed or repurchased during
             any prior fiscal year ending no
             earlier than October 11, 1995
             that were not previously used to
             reduce registration fees payable
             to the Commission:                $             0
                                               ---------------

      (iv)   Total available redemption credits
             [add Items 5(ii) and 5(iii):                      - $ 1,317,286,810
                                                                 ---------------
      (v)    Net sales -- if Item 5(i) is
             greater than Item 5(iv) [subtract
             Item 5(iv) from Item 5(i)]:                         $    55,246,052

- --------------------------------------------------------------
      (vi)   Redemption credits available for
             use in future years -- if Item
             5(i) is less than Item 5(iv)
             [subtract Item 5(iv) from Item
             5(i)]:                            $             0
                                               ---------------
- --------------------------------------------------------------

      (vii)  Multiplier for determining
             registration fee (See Instruction
             C.9):                                             x        0.000278
                                                                 ---------------

      (viii) Registration fee due [multiply
             Item 5(v) by Item 5(vii)](enter
             "0" if no fee is due):                            =          15,358
                                                                 ===============

6.    Prepaid Shares

      If the response to Item 5(i) was  determined  by  deducting  an  amount of
      securities that were registered under the Securities Act  of 1933 pursuant
      to rule 24e-2 as in effect before  [effective date of rescission  of  rule
      24e-2], then report the amount of  securities  (number  of shares or other
      units) deducted here: n/a.  If there is a  number of shares or other units
      that were registered  pursuant to rule 24e-2 remaining  unsold at the  end
      of the fiscal year for which this form is filed that are available for use
      by the issuer in future fiscal years, then state that number here: n/a.

7.    Interest due -- if this Form is being filed more than
      90 days after the end of the issuer's fiscal year
      (see Instruction D):                                     + $          n/a
                                                                 ---------------

8.    Total of the amount of the registration fee due plus
      any interest due [line 5(viii) plus line 7]:             = $        15,358
                                                                 ===============

9.    Date  the  registration fee  and  any interest  payment  was  sent  to the
      Commission's lockbox depository:   July 20, 1999
                                         -------------

                 Method of Delivery:

                       X   Wire Transfer
                           Mail or other means


                                   SIGNATURES



      This report  has  been signed  below by the following persons on behalf of
      the issuer and in the capacities and on the dates indicated.

      By (Signature and Title)*
                                -------------------------
                                Sherron Kirk, Treasurer


      Date:  July 22, 1999
             -------------

      *  Please  print  the  name and  title of the  signing  officer  below the
         signature.



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