# EDGAR Filing Document

**Accession Number:** 0001176343
**File Stem:** 0001655589-26-000542
**Filing Date:** 2026-4
**Character Count:** 6056
**Document Hash:** c1f619f8bc8050a2364b2e3e3c032d43
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001655589-26-000542.hdr.sgml**: 20260417

**ACCESSION NUMBER**: 0001655589-26-000542

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260417

**DATE AS OF CHANGE**: 20260417

**EFFECTIVENESS DATE**: 20260417

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LEGG MASON PARTNERS VARIABLE EQUITY TRUST
- **CENTRAL INDEX KEY:** 0001176343

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-91278
- **FILM NUMBER:** 26869863

**BUSINESS ADDRESS:**
- **STREET 1:** LEGG MASON & CO., LLC
- **STREET 2:** 620 EIGHTH AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018
- **BUSINESS PHONE:** 1-877-721-1926

**MAIL ADDRESS:**
- **STREET 1:** LEGG MASON & CO., LLC
- **STREET 2:** 620 EIGHTH AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Legg Mason Partners Variable Portfolios IV
- **DATE OF NAME CHANGE:** 20060501

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SMITH BARNEY MULTIPLE DISCIPLINE TRUST
- **DATE OF NAME CHANGE:** 20021004

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SMITH BARNEY MULTIPLE DISCIPLINE ACCOUNT TRUST
- **DATE OF NAME CHANGE:** 20020626

## Series and Classes Contracts Data

### Franklin Multi-Asset Variable Growth (Series ID: S000017011)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000047268 | Class I      | QLMLTX          |
| C000183011 | Class II     | QLMIIX          |

VGOF-P7 04/26

![](img_e24bf2d3ea184f1.jpg)<br>

**LEGG MASON PARTNERS INVESTMENT TRUST** <br>**LEGG MASON PARTNERS VARIABLE EQUITY TRUST** <br>**SUPPLEMENT DATED APRIL 17, 2026,** <br>**TO THE SUMMARY PROSPECTUS, PROSPECTUS AND** <br>**STATEMENT OF ADDITIONAL INFORMATION ("SAI")** <br>**OF EACH FUND LISTED IN <u>SCHEDULE A</u>** 

#### All changes described below are effective June 1, 2026.
**I. The following replaces the references to Berkeley Belknap and Jacqueline Kenney in the section titled "Management – Portfolio managers" in the Summary Prospectus and Prospectus, respectively, of each fund listed in Schedule A:** 

---

| | | |
|:---|:---|:---|
| **Portfolio manager** | **Title** | **Portfolio manager**<br>**of the fund since** |
| Brett S. Goldstein, CFA | Portfolio Manager | June 2026 |
| Thomas Nelson, <br>CFA, CAIA | Portfolio Manager | June 2026 |

---

**II. The following replaces the references to Berkeley Belknap and Jacqueline Kenney in the section titled "More on fund management – Portfolio managers" in the Prospectus of each fund listed in Schedule A:** 

---

| | | |
|:---|:---|:---|
| **Portfolio manager** | **Title and recent biography** | **Portfolio manager**<br>**of the fund since** |
| Brett S. Goldstein, CFA | Portfolio Manager of Franklin Advisers. Mr. Goldstein joined Franklin Templeton in 2024. Prior to joining Franklin Templeton, Mr. Goldstein was a portfolio manager for Putnam Investment Management, LLC, which he joined in 2010. | June 2026 |
| Thomas Nelson, CFA, CAIA | Portfolio Manager of Franklin Advisers. Mr. Nelson joined Franklin Templeton in 2007.  | June 2026 |

---

**III. The following replaces the references to Berkeley Belknap and Jacqueline Kenney in the table in the section titled** 

------

#### "Portfolio Managers – Other Accounts Managed by the Portfolio Managers" in the SAI of each fund listed in Schedule A:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio** <br>**Managers**<br>| **Type of** <br>**Account**<br>| **Number of**<br>**Accounts**<br>**Managed** <br>| **Total** <br>**Assets<br>Managed<br>(Billions)** <br>**($)** <br>| **Number of<br>Accounts<br>Managed for<br>which** <br>**Advisory**<br>**Fee is**<br>**Performance-**<br>**Based** <br>| **Assets<br>Managed for<br>which** <br>**Advisory**<br>**Fee is**<br>**Performance-**<br>**Based**<br>**(Billions) ($)**<br>|
| Brett S. <br>Goldstein\* | &nbsp;&nbsp;&nbsp;Registered <br>Investment <br>Companies | 38 | 16.06 |  |  |
|  | &nbsp;&nbsp;&nbsp;Other Pooled <br>Investment <br>Vehicles | 28 | 15.82 |  |  |
|  | &nbsp;&nbsp;&nbsp;Other Accounts | 11 | 0.06 |  |  |
| Thomas <br>Nelson\* | &nbsp;&nbsp;&nbsp;Registered <br>Investment <br>Companies | 140 | 27.38 |  |  |
|  | &nbsp;&nbsp;&nbsp;Other Pooled <br>Investment <br>Vehicles | 90 | 29.27 |  |  |
|  | &nbsp;&nbsp;&nbsp;Other Accounts | 300 | 7.03 | 1 | 0.0001 |

---

\* The information is as of February 28, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**IV. The following replaces the references to Berkeley Belknap and Jacqueline Kenney in the table in the section titled "Portfolio Managers – Portfolio Managers Securities Ownership" in the SAI of each fund listed in Schedule A:** 

---

| | |
|:---|:---|
| **Portfolio Managers**<br>| **Dollar Range of Ownership of Securities ($)**<br>|
| Brett S. Goldstein\* | &nbsp;&nbsp;&nbsp;None |
| Thomas Nelson\* | &nbsp;&nbsp;&nbsp;None |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \* The information is as of March 31, 2026.

------

#### SCHEDULE A

---

| | |
|:---|:---|
| **Fund**<br>| **Date of Summary**<br>**Prospectus,**<br>**Prospectus and**<br>**SAI**<br>|
| **<u>LEGG MASON PARTNERS</u>** <br>**<u>INVESTMENT TRUST</u>** |  |
| Franklin Multi-Asset Conservative Growth Fund  | June 1, 2025 |
| Franklin Multi-Asset Defensive Growth Fund  | June 1, 2025 |
| Franklin Multi-Asset Growth Fund  | June 1, 2025 |
| Franklin Multi-Asset Moderate Growth Fund  | June 1, 2025 |
| **<u>LEGG MASON PARTNERS VARIABLE</u>** <br>**<u>EQUITY TRUST</u>** |  |
| Franklin Multi-Asset Variable Conservative <br>Growth Fund  | May 1, 2025 |
| Franklin Multi-Asset Variable Growth Fund  | May 1, 2025 |
| Franklin Multi-Asset Variable Moderate <br>Growth Fund  | May 1, 2025 |

---

#### Please retain this supplement for future reference.

------