# EDGAR Filing Document

**Accession Number:** 0000872625
**File Stem:** 0001752724-25-153736
**Filing Date:** 2025-6
**Character Count:** 36986
**Document Hash:** a671237301e48113ceced9f569cd3dc6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-153736.hdr.sgml**: 20250624

**ACCESSION NUMBER**: 0001752724-25-153736

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250624

**DATE AS OF CHANGE**: 20250624

**PERIOD START**: 20250430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FRANKLIN STRATEGIC SERIES
- **CENTRAL INDEX KEY:** 0000872625

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06243
- **FILM NUMBER:** 251068700

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403-1906
- **BUSINESS PHONE:** 650-570-3000

**MAIL ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403-1906

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRANKLIN CALIFORNIA 250 GROWTH FUND
- **DATE OF NAME CHANGE:** 19911216

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRANKLIN CALIFORNIA 250 GROWTH INDEX FUND
- **DATE OF NAME CHANGE:** 19910917

## Series and Classes Contracts Data

### FRANKLIN NATURAL RESOURCES FUND (Series ID: S000006887)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018647 | CLASS C       | FNCRX           |
| C000018648 | CLASS A       | FRNRX           |
| C000018649 | ADVISOR CLASS | FNRAX           |
| C000132949 | Class R6      | FNCSX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Franklin Strategic Series

- **b. Investment Company Act file number:** 811-06243

- **c. CIK number of Registrant:** 0000872625

- **d. LEI of Registrant:** 549300NDWC0J6DXVSX36

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** One Franklin Parkway

  - **City:** San Mateo

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94403-1906

  - **Telephone number:** 650-312-2000

**Item A.2. Information about the Series.**

- **a. Name of Series:** Franklin Natural Resources Fund

- **b. EDGAR series identifier (if any):** S000006887

- **c. LEI of Series:** TCWS4YX3L8J5QHI4RW34

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-04-30

- **b. Date as of which information is reported:** 2025-04-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $304603482.23

**Total Liabilities:** $9392456.63

**Net Assets:** $295211025.60

**Cash Not Reported:** $66034.38

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000018649 | 0.22%                | 2.42%                | -6.63%               |
| Class ID C000018648 | 0.20%                | 2.38%                | -6.63%               |
| Class ID C000018647 | 0.14%                | 2.33%                | -6.69%               |
| Class ID C000132949 | 0.25%                | 2.43%                | -6.64%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2418902.31             | $2554286.44                                |
| Month 2  | $3620077.86              | $2891859.51                                |
| Month 3  | $14560645.88             | $-36244290.02                              |

### Schedule of Portfolio Investments

| Name                                                   | Title                                                  | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Shell plc                                              | Shell plc                                              | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |     89600 | NS      | $5777408.00   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp.                                      | Exxon Mobil Corp.                                      | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    139706 | NS      | $14757144.78  | 5.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Valero Energy Corp.                                    | Valero Energy Corp.                                    | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |     26600 | NS      | $3087994.00   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Natural Resources Ltd.                        | Canadian Natural Resources Ltd.                        | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |    205100 | NS      | $5885504.13   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp.                                | Permian Resources Corp., Class A                       | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |    131600 | NS      | $1552880.00   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Tourmaline Oil Corp.                                   | Tourmaline Oil Corp.                                   | CUSIP: 89156V106<br>LEI: 894500A5J1WTJ2WIUU03 | Long             | EC               | CORP              | CA        |     47300 | NS      | $2089489.34   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Ovintiv, Inc.                                          | Ovintiv, Inc.                                          | CUSIP: 69047Q102<br>LEI: 2549003MEX7YMKLGI239 | Long             | EC               | CORP              | US        |     39000 | NS      | $1309620.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Xylem, Inc.                                            | Xylem, Inc.                                            | CUSIP: 98419M100<br>LEI: 549300DF5MV96DRYLQ48 | Long             | EC               | CORP              | US        |     19400 | NS      | $2339058.00   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Anglo American plc                                     | Anglo American plc                                     | CUSIP: N/A<br>LEI: 549300S9XF92D1X8ME43       | Long             | EC               | CORP              | GB        |     55200 | NS      | $1506870.07   | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Antofagasta plc                                        | Antofagasta plc                                        | CUSIP: N/A<br>LEI: 213800MY6QVH4FVLD628       | Long             | EC               | CORP              | GB        |    149800 | NS      | $3287440.76   | 1.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                             | Occidental Petroleum Corp.                             | CUSIP: 674599162<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             |  | CORP              | US        |     17900 | NS      | $335804.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC plc                                         | TechnipFMC plc                                         | CUSIP: N/A<br>LEI: 549300D5I93QWCJTCK36       | Long             | EC               | CORP              | GB        |    116900 | NS      | $3293073.00   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrick Gold Corp.                                     | Barrick Gold Corp.                                     | CUSIP: 067901108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |    362900 | NS      | $6909616.00   | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadeler A/S                                            | Cadeler A/S                                            | CUSIP: 12738K109<br>LEI: 9845008439EUED140282 | Long             | EC               | CORP              | DK        |    120424 | NS      | $2513248.88   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips 66                                            | Phillips 66                                            | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |     46500 | NS      | $4838790.00   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Vale SA                                                | Vale SA, Class B                                       | CUSIP: 91912E105<br>LEI: 254900SMTWBX7RU2SR20 | Long             | EC               | CORP              | BR        |    199400 | NS      | $1856414.00   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova, Inc.                                       | GE Vernova, Inc.                                       | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |      5300 | NS      | $1965346.00   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Trican Well Service Ltd.                               | Trican Well Service Ltd.                               | CUSIP: 895945103<br>LEI: 5493003PMAE3KEW1DL91 | Long             | EC               | CORP              | CA        |    249600 | NS      | $733265.63    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Cactus, Inc.                                           | Cactus, Inc., Class A                                  | CUSIP: 127203107<br>LEI: 549300J3T8C9F8QFKV08 | Long             | EC               | CORP              | US        |     21400 | NS      | $811916.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| B2Gold Corp.                                           | B2Gold Corp.                                           | CUSIP: 11777QAC4<br>LEI: 549300F7OK456M5NLM05 | Long             | DBT              | CORP              | CA        |    933000 | PA      | $1143274.88   | 0.39%             | 2030-02-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Devon Energy Corp.                                     | Devon Energy Corp.                                     | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |     45800 | NS      | $1392778.00   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy, Inc.                                  | Cheniere Energy, Inc.                                  | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |     16300 | NS      | $3767093.00   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Capstone Copper Corp.                                  | Capstone Copper Corp.                                  | CUSIP: 14071L108<br>LEI: 549300III6KGKKC42W63 | Long             | EC               | CORP              | CA        |    495300 | NS      | $2385602.79   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Glencore plc                                           | Glencore plc                                           | CUSIP: N/A<br>LEI: 2138002658CPO9NBH955       | Long             | EC               | CORP              | JE        |    313300 | NS      | $1027227.98   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Newmont Corp.                                          | Newmont Corp.                                          | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |    188900 | NS      | $9951252.00   | 3.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Ranger Energy Services, Inc.                           | Ranger Energy Services, Inc., Class A                  | CUSIP: 75282U104<br>LEI: 549300J7RIVGVAN0RE23 | Long             | EC               | CORP              | US        |      1114 | NS      | $12354.26     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Cos., Inc. (The)                              | Williams Cos., Inc. (The)                              | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |     74500 | NS      | $4363465.00   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutrien Ltd.                                           | Nutrien Ltd.                                           | CUSIP: 67077M108<br>LEI: 5493002QQ7GD21OWF963 | Long             | EC               | CORP              | CA        |     98500 | NS      | $5619425.00   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Hess Corp.                                             | Hess Corp.                                             | CUSIP: 42809H107<br>LEI: UASVRYNXNK17ULIGK870 | Long             | EC               | CORP              | US        |     45600 | NS      | $5884680.00   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| South Bow Corp.                                        | South Bow Corp.                                        | CUSIP: 83671M105<br>LEI: 2549000XS5TAFA3YF943 | Long             | EC               | CORP              | CA        |     26840 | NS      | $662679.60    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntsman Corp.                                         | Huntsman Corp.                                         | CUSIP: 447011107<br>LEI: 5299000V56320A7RIQ67 | Long             | EC               | CORP              | US        |    144900 | NS      | $1928619.00   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan, Inc.                                 | Freeport-McMoRan, Inc.                                 | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |    245000 | NS      | $8827350.00   | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Albemarle Corp.                                        | Albemarle Corp.                                        | CUSIP: 012653200<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | EP               | CORP              | US        |     30800 | NS      | $943404.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Enbridge, Inc.                                         | Enbridge, Inc.                                         | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               | CORP              | CA        |     64300 | NS      | $3002167.00   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Corteva, Inc.                                          | Corteva, Inc.                                          | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |    109300 | NS      | $6775507.00   | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Hudbay Minerals, Inc.                                  | Hudbay Minerals, Inc.                                  | CUSIP: 443628102<br>LEI: 549300WI524AL577IX21 | Long             | EC               | CORP              | CA        |    250500 | NS      | $1822511.97   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Ranger Energy Services, Inc.                           | Ranger Energy Services, Inc., Class A                  | CUSIP: 75282U104<br>LEI: 549300J7RIVGVAN0RE23 | Long             | EC               | CORP              | US        |    108786 | NS      | $1206436.74   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Teck Resources Ltd.                                    | Teck Resources Ltd., Class B                           | CUSIP: 878742204<br>LEI: T8KI5SQ2JRWHL7XY0E11 | Long             | EC               | CORP              | CA        |    121500 | NS      | $4129785.00   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Products and Chemicals, Inc.                       | Air Products and Chemicals, Inc.                       | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |     21700 | NS      | $5882653.00   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamos Gold, Inc.                                      | Alamos Gold, Inc., Class A                             | CUSIP: 011532108<br>LEI: 549300TDOX73YGYXE959 | Long             | EC               | CORP              | CA        |    226300 | NS      | $6469231.83   | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Neo Performance Materials, Inc.                        | Neo Performance Materials, Inc.                        | CUSIP: N/A<br>LEI: 984500E2A5I396CB6D96       | Long             | EC               | CORP              | CA        |     85000 | NS      | $691172.20    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Co.                                  | Matador Resources Co.                                  | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |     37200 | NS      | $1470888.00   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Oil States International, Inc.                         | Oil States International, Inc.                         | CUSIP: 678026AK1<br>LEI: 5493004TF4KQJGMYL777 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1143600.00   | 0.39%             | 2026-04-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Aclara Resources, Inc.                                 | Aclara Resources, Inc.                                 | CUSIP: 00461M103<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    489200 | NS      | $283882.20    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Ball Corp.                                             | Ball Corp.                                             | CUSIP: 058498106<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | EC               | CORP              | US        |     45000 | NS      | $2337300.00   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Schlumberger NV                                        | Schlumberger NV                                        | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |     85100 | NS      | $2829575.00   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| IperionX Ltd.                                          | IperionX Ltd.                                          | CUSIP: N/A<br>LEI: 98450096B1C9E094C832       | Long             | EC               | CORP              | AU        |    545000 | NS      | $1250141.12   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Aker BP ASA                                            | Aker BP ASA                                            | CUSIP: N/A<br>LEI: 549300NFTY73920OYK69       | Long             | EC               | CORP              | NO        |    101900 | NS      | $2187539.14   | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| EQT Corp.                                              | EQT Corp.                                              | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |     63800 | NS      | $3154272.00   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp.                                          | Chevron Corp.                                          | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     39100 | NS      | $5319946.00   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| TC Energy Corp.                                        | TC Energy Corp.                                        | CUSIP: 87807B107<br>LEI: 549300UGKOFV2IWJJG27 | Long             | EC               | CORP              | CA        |    104300 | NS      | $5257763.00   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Halliburton Co.                                        | Halliburton Co.                                        | CUSIP: 406216101<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | EC               | CORP              | US        |     99800 | NS      | $1978036.00   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                                       | TotalEnergies SE                                       | CUSIP: 89151E109<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |     63100 | NS      | $3587235.00   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                                         | ConocoPhillips                                         | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     95800 | NS      | $8537696.00   | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Bunge Global SA                                        | Bunge Global SA                                        | CUSIP: N/A<br>LEI: 254900IVXSV9K0B7PO26       | Long             | EC               | CORP              | CH        |     24600 | NS      | $1936512.00   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| ERO Copper Corp.                                       | ERO Copper Corp.                                       | CUSIP: 296006109<br>LEI: 549300KL8A21SEIO8I47 | Long             | EC               | CORP              | CA        |    264700 | NS      | $3306349.92   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto plc                                          | Rio Tinto plc                                          | CUSIP: 767204100<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |     77900 | NS      | $4627260.00   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance, Inc.                                         | Reliance, Inc.                                         | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |      5500 | NS      | $1585265.00   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Neo Performance Materials, Inc.                        | Neo Performance Materials, Inc.                        | CUSIP: 64046G106<br>LEI: 984500E2A5I396CB6D96 | Long             | EC               | CORP              | CA        |     45400 | NS      | $369167.27    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| BHP Group Ltd.                                         | BHP Group Ltd.                                         | CUSIP: 088606108<br>LEI: WZE1WSENV6JSZFK0JC28 | Long             | EC               | CORP              | AU        |    192600 | NS      | $9158130.00   | 3.10%             |  |  |  | No            |                  1 | On Loan: —       |
| Institutional Fiduciary Trust Money Market Portfolio   | Institutional Fiduciary Trust Money Market Portfolio   | CUSIP: 8611239C3<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   9004750 | NS      | $9004750.00   | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Coterra Energy, Inc.                                   | Coterra Energy, Inc.                                   | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |    305900 | NS      | $7512904.00   | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| B2Gold Corp.                                           | B2Gold Corp.                                           | CUSIP: 11777Q209<br>LEI: 549300F7OK456M5NLM05 | Long             | EC               | CORP              | CA        |    283200 | NS      | $885385.17    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| ChampionX Corp.                                        | ChampionX Corp.                                        | CUSIP: 15872M104<br>LEI: 549300EP2909K6DYYP38 | Long             | EC               | CORP              | US        |     59600 | NS      | $1438148.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Aclara Resources, Inc.                                 | Aclara Resources, Inc.                                 | CUSIP: N/A<br>LEI: 549300V8ITKL5RQLZQ44       | Long             | EC               | CORP              | CA        |    510754 | NS      | $296389.96    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Precision Drilling Corp.                               | Precision Drilling Corp.                               | CUSIP: 74022D407<br>LEI: 549300WF2OE8T5BP4B84 | Long             | EC               | CORP              | CA        |     37000 | NS      | $1543640.00   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| T1 Energy, Inc.                                        | T1 Energy, Inc.                                        | CUSIP: 35834F104<br>LEI: 529900H0645VFXNMJ693 | Long             | EC               | CORP              | US        |    557400 | NS      | $674454.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Martin Marietta Materials, Inc.                        | Martin Marietta Materials, Inc.                        | CUSIP: 573284106<br>LEI: 5299005MZ4WZECVATV08 | Long             | EC               | CORP              | US        |     10400 | NS      | $5449392.00   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Infinity Natural Resources, Inc.                       | Infinity Natural Resources, Inc., Class A              | CUSIP: 456941103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    140700 | NS      | $2159745.00   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Occidental Petroleum Corp.                             | Occidental Petroleum Corp.                             | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | EC               | CORP              | US        |     66100 | NS      | $2605001.00   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Oceaneering International, Inc.                        | Oceaneering International, Inc.                        | CUSIP: 675232102<br>LEI: 549300L6PH74701W0R30 | Long             | EC               | CORP              | US        |     73500 | NS      | $1304625.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp.                               | Marathon Petroleum Corp.                               | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |     23600 | NS      | $3242876.00   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| South32 Ltd.                                           | South32 Ltd.                                           | CUSIP: N/A<br>LEI: 213800LAZNPXSBKVHR17       | Long             | EC               | CORP              | AU        |    565300 | NS      | $974178.80    | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Baker Hughes Co.                                       | Baker Hughes Co., Class A                              | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     74600 | NS      | $2640840.00   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources, Inc.                                    | EOG Resources, Inc.                                    | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |     50100 | NS      | $5527533.00   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Cameco Corp.                                           | Cameco Corp.                                           | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |     27200 | NS      | $1228080.00   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| New Fortress Energy, Inc.                              | New Fortress Energy, Inc.                              | CUSIP: 644393100<br>LEI: 254900EICTYTCHA5X705 | Long             | EC               | CORP              | US        |     91300 | NS      | $495759.00    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Technip Energies NV                                    | Technip Energies NV                                    | CUSIP: N/A<br>LEI: 724500FLODI49NSCIP70       | Long             | EC               | CORP              | NL        |     46099 | NS      | $1573087.98   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Crown Holdings, Inc.                                   | Crown Holdings, Inc.                                   | CUSIP: 228368106<br>LEI: NYLWZIOY8PUNIT4JOE22 | Long             | EC               | CORP              | US        |     17300 | NS      | $1666509.00   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Albemarle Corp.                                        | Albemarle Corp.                                        | CUSIP: 012653101<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | EC               | CORP              | US        |     26200 | NS      | $1534010.00   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Institutional Fiduciary Trust - Money Market Portfolio | Institutional Fiduciary Trust - Money Market Portfolio | CUSIP: 457756500<br>LEI: 549300M4TP89K77LG374 | Long             | STIV             | RF                | US        |  13649888 | NS      | $13649888.01  | 4.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinder Morgan, Inc.                                    | Kinder Morgan, Inc.                                    | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |    160600 | NS      | $4223780.00   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Lundin Mining Corp.                                    | Lundin Mining Corp.                                    | CUSIP: 550372106<br>LEI: 549300FQDIM6C8HTN269 | Long             | EC               | CORP              | CA        |    376700 | NS      | $3082239.95   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Targa Resources Corp.                                  | Targa Resources Corp.                                  | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |     16800 | NS      | $2871120.00   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Energy, Inc.                                   | Liberty Energy, Inc., Class A                          | CUSIP: 53115L104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    191500 | NS      | $2202250.00   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Water Solutions, Inc.                           | Select Water Solutions, Inc., Class A                  | CUSIP: 81617J301<br>LEI: 54930094OK8LA3QDW486 | Long             | EC               | CORP              | US        |    150200 | NS      | $1279704.00   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| MP Materials Corp.                                     | MP Materials Corp.                                     | CUSIP: 553368101<br>LEI: 89450063PHPS61USMT84 | Long             | EC               | CORP              | US        |     78100 | NS      | $1910326.00   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Agnico Eagle Mines Ltd.                                | Agnico Eagle Mines Ltd.                                | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |     58600 | NS      | $6887391.56   | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Suncor Energy, Inc.                                    | Suncor Energy, Inc.                                    | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |    124400 | NS      | $4393613.81   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Packaging Corp. of America                             | Packaging Corp. of America                             | CUSIP: 695156109<br>LEI: 549300XZP8MFZFY8TJ84 | Long             | EC               | CORP              | US        |     12000 | NS      | $2227320.00   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde plc                                              | Linde plc                                              | CUSIP: N/A<br>LEI: 5299003QR1WT0EF88V51       | Long             | EC               | CORP              | IE        |     16100 | NS      | $7297003.00   | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-30

**Name of Applicant:** Franklin Strategic Series

**Signature:** Monica Krogh

**Name of Signer:** Monica Krogh

**Title:** Assistant Treasurer