SCHEDULE 14A

                            SCHEDULE 14A INFORMATION
                  Proxy Statement Pursuant to Section 14(a) of
                      the Securities Exchange Act of 1934
                               (Amendment No. __)

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                              USAA Investment Trust
               (Name of Registrant as Specified In Its Charter)
       _________________________________________________________________
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                         if other than the Registrant)

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[USAA                    USAA CORNERSTONE STRATEGY FUND
EAGLE
LOGO (R)]                SUPPLEMENT DATED JUNE 30, 2006
                            TO THE FUND'S PROSPECTUS
                              DATED OCTOBER 1, 2005

                                     AND THE

                                 PROXY STATEMENT
                               DATED MAY 26, 2006


At its  meeting on June 27,  2006,  the  Cornerstone  Strategy  Fund's  Board of
Trustees  approved the addition of  international  stock  exchange-traded  funds
(ETFs) to the  International  Stocks  investment  category.  Effective August 1,
2006,  the Fund will have the  ability  to invest up to 50% of the total  assets
allocated to the  International  Stocks  investment  category  in  international
stock  ETFs;  however,  no more  than 25% of the  Fund's  total  assets  will be
invested in ETFs.

                                                                      60784-0606