# EDGAR Filing Document

**Accession Number:** 0000825063
**File Stem:** 0001752724-23-033166
**Filing Date:** 2023-2
**Character Count:** 30538
**Document Hash:** ce55ddc94c6c5ed3f4585d0553746568
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-033166.hdr.sgml**: 20230222

**ACCESSION NUMBER**: 0001752724-23-033166

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230222

**DATE AS OF CHANGE**: 20230222

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FRANKLIN MUTUAL SERIES FUNDS
- **CENTRAL INDEX KEY:** 0000825063
- **IRS NUMBER:** 222894171
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05387
- **FILM NUMBER:** 23651830

**BUSINESS ADDRESS:**
- **STREET 1:** 101 JOHN F KENNEDY PARKWAY
- **CITY:** SHORT HILLS
- **STATE:** NJ
- **ZIP:** 07078
- **BUSINESS PHONE:** 973-912-2000

**MAIL ADDRESS:**
- **STREET 1:** 101 JOHN F KENNEDY PARKWAY
- **CITY:** SHORT HILLS
- **STATE:** NJ
- **ZIP:** 07078

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRANKLIN MUTUAL SERIES FUND INC
- **DATE OF NAME CHANGE:** 19970227

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MUTUAL SERIES FUND INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### FRANKLIN MUTUAL FINANCIAL SERVICES FUND (Series ID: S000007865)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000021395 | CLASS A      | TFSIX           |
| C000021397 | CLASS C      | TMFSX           |
| C000021398 | CLASS Z      | TEFAX           |
| C000128732 | Class R6     | FMFVX           |

## 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 Mutual Series Funds

- **b. Investment Company Act file number:** 811-05387

- **c. CIK number of Registrant:** 0000825063

- **d. LEI of Registrant:** 549300DW3N5FG4OTT022

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

  - **Street Address 1:** 101 John F. Kennedy Parkway

  - **City:** Short Hills

  - **State:** NJ

  - **Foreign country:** US

  - **Zip / Postal Code:** 07078-2791

  - **Telephone number:** 973-912-2000

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

- **a. Name of Series:** Franklin Mutual Financial Services Fund

- **b. EDGAR series identifier (if any):** S000007865

- **c. LEI of Series:** PBVS5HOGS4QFZMXTTD93

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

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $369434653.84

**Total Liabilities:** $3621623.18

**Net Assets:** $365813030.66

**Cash Not Reported:** $9093039.06

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000128732 | 11.70%               | 6.22%                | -3.07%               |
| Class ID C000021395 | 11.68%               | 6.22%                | -3.10%               |
| Class ID C000021398 | 11.74%               | 6.23%                | -3.08%               |
| Class ID C000021397 | 11.63%               | 6.13%                | -3.19%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1613593.21             | $40464735.53                               |
| Month 2  | $1911304.26              | $23019953.20                               |
| Month 3  | $2453942.59              | $-13285061.62                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BAWAG Group AG                                       | BAWAG Group AG                                       | CUSIP: N/A<br>LEI: 529900S9YO2JHTIIDG38       | Long             | EC               | CORP              | AT        |     60094 | NS      | $3202277.34   | 0.88%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $4492.66      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ING Groep NV                                         | ING Groep NV                                         | CUSIP: N/A<br>LEI: 549300NYKK9MWM7GGW15       | Long             | EC               | CORP              | NL        |   1219614 | NS      | $14855624.97  | 4.06%             |  |  |  | No            |                  2 | On Loan: No      |
| NN Group NV                                          | NN Group NV                                          | CUSIP: N/A<br>LEI: 724500OHYNDT9OY6Q215       | Long             | EC               | CORP              | NL        |    307559 | NS      | $12576176.95  | 3.44%             |  |  |  | No            |                  2 | On Loan: No      |
| International General Insurance Holdings Ltd.        | International General Insurance Holdings Ltd.        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BM        |   1335093 | NS      | $10680744.00  | 2.92%             |  |  |  | No            |                  1 | On Loan: —       |
| China Pacific Insurance Group Co. Ltd.               | China Pacific Insurance Group Co. Ltd., Class H      | CUSIP: N/A<br>LEI: 529900BA5ILEL308WX03       | Long             | EC               | CORP              | CN        |   2334045 | NS      | $5161376.03   | 1.41%             |  |  |  | No            |                  2 | On Loan: No      |
| BlackRock, Inc.                                      | BlackRock, Inc.                                      | CUSIP: 09247X101<br>LEI: 549300LRIF3NWCU26A80 | Long             | EC               | CORP              | US        |     12709 | NS      | $9005978.67   | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-49703.68    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Everest Re Group Ltd.                                | Everest Re Group Ltd.                                | CUSIP: N/A<br>LEI: 549300N24XF2VV0B3570       | Long             | EC               | CORP              | BM        |     43289 | NS      | $14340347.03  | 3.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Fiserv, Inc.                                         | Fiserv, Inc.                                         | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |     69574 | NS      | $7031844.18   | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-21510.84    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                       | BNP Paribas SA                                       | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | Long             | EC               | CORP              | FR        |    259382 | NS      | $14768311.68  | 4.04%             |  |  |  | No            |                  2 | On Loan: No      |
| BRP Group, Inc.                                      | BRP Group, Inc., Class A                             | CUSIP: 05589G102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    360451 | NS      | $9061738.14   | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-366497.64   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-951581.15   | -0.26%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $332090.62    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Hartford Financial Services Group, Inc. (The)        | Hartford Financial Services Group, Inc. (The)        | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |    174745 | NS      | $13250913.35  | 3.62%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLB                                                 | FHLB                                                 | CUSIP: 313384AC3<br>LEI: 2549001DPIFGXC1TOL40 | Long             | STIV             | USGA              | US        |   3500000 | PA      | $3500000.00   | 0.96%             | 2023-01-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| M&G plc                                              | M&G plc                                              | CUSIP: N/A<br>LEI: 254900TWUJUQ44TQJY84       | Long             | EC               | CORP              | GB        |   1577897 | NS      | $3567885.82   | 0.98%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                             | U.S. Treasury Bills                                  | CUSIP: 912796ZE2<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   1000000 | PA      | $983873.19    | 0.27%             | 2023-05-11      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-178841.57   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| Institutional Fiduciary Trust Money Market Portfolio | Institutional Fiduciary Trust Money Market Portfolio | CUSIP: 457756500<br>LEI: N/A                  | Long             | STIV             | RF                | US        |      3340 | NS      | $3340.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital One Financial Corp.                          | Capital One Financial Corp.                          | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |     91224 | NS      | $8480183.04   | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Conduit Holdings Ltd.                                | Conduit Holdings Ltd.                                | CUSIP: N/A<br>LEI: 21380085AE62D1BXSF19       | Long             | EC               | CORP              | BM        |   1667976 | NS      | $8630261.04   | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $34.86        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SVB Financial Group                                  | SVB Financial Group                                  | CUSIP: 78486Q101<br>LEI: 549300D2KJ20JMXE7542 | Long             | EC               | CORP              | US        |     25381 | NS      | $5841183.34   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Willis Towers Watson plc                             | Willis Towers Watson plc                             | CUSIP: N/A<br>LEI: 549300WHC56FF48KL350       | Long             | EC               | CORP              | IE        |     61959 | NS      | $15153932.22  | 4.14%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-362219.46   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                    | Wells Fargo & Co.                                    | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |    264391 | NS      | $10916704.39  | 2.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Synovus Financial Corp.                              | Synovus Financial Corp.                              | CUSIP: 87161C501<br>LEI: 549300EIUS8UN5JTLE54 | Long             | EC               | CORP              | US        |    278465 | NS      | $10456360.75  | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Guotai Junan Securities Co. Ltd.                     | Guotai Junan Securities Co. Ltd., Class H            | CUSIP: N/A<br>LEI: 300300E1005431000017       | Long             | EC               | CORP              | CN        |   1567148 | NS      | $1760382.16   | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                 | JPMorgan Chase & Co.                                 | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     81046 | NS      | $10868268.60  | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Savills plc                                          | Savills plc                                          | CUSIP: N/A<br>LEI: 213800WXICGMBWHTA933       | Long             | EC               | CORP              | GB        |    449657 | NS      | $4478349.61   | 1.22%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-21305.42    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Primis Financial Corp.                               | Primis Financial Corp.                               | CUSIP: 74167B109<br>LEI: 549300JNX3M2EENG1F11 | Long             | EC               | CORP              | US        |    393187 | NS      | $4659265.95   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Direct Line Insurance Group plc                      | Direct Line Insurance Group plc                      | CUSIP: N/A<br>LEI: 213800FF2R23ALJQOP04       | Long             | EC               | CORP              | GB        |   5087282 | NS      | $13558973.03  | 3.71%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-7552.26     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-69555.13    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-4560.80     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Cushman & Wakefield plc                              | Cushman & Wakefield plc                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | GB        |    333883 | NS      | $4160182.18   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                             | U.S. Treasury Bills                                  | CUSIP: 912796ZG7<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   1500000 | PA      | $1472078.03   | 0.40%             | 2023-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UniCredit SpA                                        | UniCredit SpA                                        | CUSIP: N/A<br>LEI: 549300TRUWO2CD2G5692       | Long             | EC               | CORP              | IT        |   1053699 | NS      | $14950829.80  | 4.09%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Foreign Exchange EUR/USD                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |       -62 | NC      | $-114073.64   | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Global Payments, Inc.                                | Global Payments, Inc.                                | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Long             | EC               | CORP              | US        |     69744 | NS      | $6926974.08   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| MetLife, Inc.                                        | MetLife, Inc.                                        | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |    124281 | NS      | $8994215.97   | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-4802.97     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $1623.21      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Columbia Banking System, Inc.                        | Columbia Banking System, Inc.                        | CUSIP: 197236102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    362449 | NS      | $10920588.37  | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $36502.43     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                | Bank of America Corp.                                | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |    204796 | NS      | $6782843.52   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $63166.26     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-20906.10    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| First Horizon Corp.                                  | First Horizon Corp.                                  | CUSIP: 320517105<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EC               | CORP              | US        |    331858 | NS      | $8130521.00   | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $48965.78     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $3481.54      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Vornado Realty Trust                                 | Vornado Realty Trust                                 | CUSIP: 929042109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    200435 | NS      | $4171052.35   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-2491.56     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| AB&T Financial Corp.                                 | AB&T Financial Corp.                                 | CUSIP: 00037W106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    226100 | NS      | $136790.50    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-16436.92    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CaixaBank SA                                         | CaixaBank SA                                         | CUSIP: N/A<br>LEI: 7CUNS533WID6K7DGFI87       | Long             | EC               | CORP              | ES        |   1079441 | NS      | $4232067.25   | 1.16%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-4579.68     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Voya Financial, Inc.                                 | Voya Financial, Inc.                                 | CUSIP: 929089100<br>LEI: 549300T065Z4KJ686G75 | Long             | EC               | CORP              | US        |    208355 | NS      | $12811748.95  | 3.50%             |  |  |  | No            |                  1 | On Loan: No      |
| AerCap Holdings NV                                   | AerCap Holdings NV                                   | CUSIP: N/A<br>LEI: 549300SZYINBBLJQU475       | Long             | EC               | CORP              | NL        |     78905 | NS      | $4601739.60   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Bread Financial Holdings, Inc.                       | Bread Financial Holdings, Inc.                       | CUSIP: 018581108<br>LEI: 549300G8S4PO686J7H97 | Long             | EC               | CORP              | US        |     53496 | NS      | $2014659.36   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $163586.94    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-67190.41    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $3277.37      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Citizens Financial Group, Inc.                       | Citizens Financial Group, Inc.                       | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |    342831 | NS      | $13497256.47  | 3.69%             |  |  |  | No            |                  1 | On Loan: No      |
| DR Horton, Inc.                                      | DR Horton, Inc.                                      | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |     22744 | NS      | $2027400.16   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Cairn Homes plc                                      | Cairn Homes plc                                      | CUSIP: N/A<br>LEI: 635400DPX6WP2KKDOA83       | Long             | EC               | CORP              | IE        |   8521149 | NS      | $8107057.57   | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ASR Nederland NV                                     | ASR Nederland NV                                     | CUSIP: N/A<br>LEI: 7245000G0HS48PZWUD53       | Long             | EC               | CORP              | NL        |    288787 | NS      | $13720793.42  | 3.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Loyalty Ventures, Inc.                               | Loyalty Ventures, Inc.                               | CUSIP: 54911Q107<br>LEI: 549300Q3YKVWNY6JIJ44 | Long             | EC               | CORP              | US        |    182982 | NS      | $440986.62    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Bank AG                                     | Deutsche Bank AG                                     | CUSIP: N/A<br>LEI: 7LTWFZYICNSX8D621K86       | Long             | EC               | CORP              | DE        |   1162459 | NS      | $13067252.19  | 3.57%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                  | Foreign Exchange GBP/USD                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |       -56 | NC      | $76861.68     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                  | Forward Foreign Currency Contract                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-5524.19     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-30

**Name of Applicant:** Franklin Mutual Series Funds

**Signature:** Ryan Wheeler

**Name of Signer:** Ryan Wheeler

**Title:** Assistant Treasurer