# EDGAR Filing Document

**Accession Number:** 0000825063
**File Stem:** 0001752724-23-033147
**Filing Date:** 2023-2
**Character Count:** 19114
**Document Hash:** 62d9d186a0ae2f432bbc2c2866860580
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-033147.hdr.sgml**: 20230222

**ACCESSION NUMBER**: 0001752724-23-033147

**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:** 23651811

**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 BEACON FUND (Series ID: S000007860)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000021373 | CLASS A      | TEBIX           |
| C000021375 | CLASS C      | TEMEX           |
| C000021376 | CLASS Z      | BEGRX           |
| C000082421 | CLASS R      |  |
| C000128727 | Class R6     | FMBRX           |

## 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 Beacon Fund

- **b. EDGAR series identifier (if any):** S000007860

- **c. LEI of Series:** 2P5J8F77YSRTYSP23G45

**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:** $2934310869.36

**Total Liabilities:** $3322972.70

**Net Assets:** $2930987896.66

**Cash Not Reported:** $56237299.00

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000021375 | 8.49%                | 8.55%                | -1.21%               |
| Class ID C000021373 | 8.50%                | 8.63%                | -1.16%               |
| Class ID C000021376 | 8.53%                | 8.65%                | -1.15%               |
| Class ID C000128727 | 8.61%                | 8.64%                | -1.14%               |
| Class ID C000082421 | 8.48%                | 8.63%                | -1.18%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-82830436.43            | $305888569.13                              |
| Month 2  | $19368384.97             | $220133904.02                              |
| Month 3  | $8670668.52              | $-46794763.80                              |

**Designated Index Information**

- **Index Name:** Linked MSCI World Value Index-NR

- **Index Identifier:** HB10534

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Kraft Heinz Co. (The)                          | Kraft Heinz Co. (The)                                          | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Long             | EC               | CORP              | US        |   1563667 | NS      | $63656883.57  | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                       | U.S. Treasury Bills                                            | CUSIP: 912796ZQ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   1500000 | PA      | $1467940.83   | 0.05%             | 2023-06-22      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ING Groep NV                                   | ING Groep NV                                                   | CUSIP: N/A<br>LEI: 549300NYKK9MWM7GGW15       | Long             | EC               | CORP              | NL        |   6773522 | NS      | $82505532.55  | 2.81%             |  |  |  | No            |                  2 | On Loan: No      |
| Eli Lilly & Co.                                | Eli Lilly & Co.                                                | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |    187083 | NS      | $68442444.72  | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock, Inc.                                | BlackRock, Inc.                                                | CUSIP: 09247X101<br>LEI: 549300LRIF3NWCU26A80 | Long             | EC               | CORP              | US        |    154529 | NS      | $109503885.27 | 3.74%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                       | U.S. Treasury Bills                                            | CUSIP: 912796XS3<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   1000000 | PA      | $998393.33    | 0.03%             | 2023-01-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GSK plc                                        | GSK plc                                                        | CUSIP: N/A<br>LEI: 5493000HZTVUYLO1D793       | Long             | EC               | CORP              | GB        |   5236438 | NS      | $90498842.38  | 3.09%             |  |  |  | No            |                  2 | On Loan: No      |
| adidas AG                                      | adidas AG                                                      | CUSIP: N/A<br>LEI: 549300JSX0Z4CW0V5023       | Long             | EC               | CORP              | DE        |    481281 | NS      | $65223249.33  | 2.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Merck & Co., Inc.                              | Merck & Co., Inc.                                              | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |    603685 | NS      | $66978850.75  | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas SA                                 | BNP Paribas SA                                                 | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | Long             | EC               | CORP              | FR        |   1247577 | NS      | $71032708.43  | 2.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Johnson Controls International plc             | Johnson Controls International plc                             | CUSIP: N/A<br>LEI: 549300XQ6S1GYKGBL205       | Long             | EC               | CORP              | IE        |   1574077 | NS      | $100740928.00 | 3.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Hartford Financial Services Group, Inc. (The)  | Hartford Financial Services Group, Inc. (The)                  | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |   1251556 | NS      | $94905491.48  | 3.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbus SE                                      | Airbus SE                                                      | CUSIP: N/A<br>LEI: MINO79WLOO247M1IL051       | Long             | EC               | CORP              | NL        |    744047 | NS      | $88464915.14  | 3.02%             |  |  |  | No            |                  2 | On Loan: No      |
| FHLB                                           | FHLB                                                           | CUSIP: 313384AC3<br>LEI: 2549001DPIFGXC1TOL40 | Long             | STIV             | USGA              | US        |  23000000 | PA      | $23000000.00  | 0.78%             | 2023-01-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Cie Financiere Richemont SA                    | Cie Financiere Richemont SA                                    | CUSIP: N/A<br>LEI: 549300YIPGJ6UX2QPS51       | Long             | EC               | CORP              | CH        |    602829 | NS      | $78158559.11  | 2.67%             |  |  |  | No            |                  2 | On Loan: No      |
| BP plc                                         | BP plc                                                         | CUSIP: N/A<br>LEI: 213800LH1BZH3DI6G760       | Long             | EC               | CORP              | GB        |  19901412 | NS      | $114825235.45 | 3.92%             |  |  |  | No            |                  2 | On Loan: No      |
| International Paper Co.                        | International Paper Co.                                        | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Long             | EC               | CORP              | US        |   2027054 | NS      | $70196880.02  | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms, Inc.                           | Meta Platforms, Inc., Class A                                  | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |    506973 | NS      | $61009130.82  | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic plc                                  | Medtronic plc                                                  | CUSIP: N/A<br>LEI: 549300GX3ZBSQWUXY261       | Long             | EC               | CORP              | IE        |   1354332 | NS      | $105258683.04 | 3.59%             |  |  |  | No            |                  1 | On Loan: No      |
| SVB Financial Group                            | SVB Financial Group                                            | CUSIP: 78486Q101<br>LEI: 549300D2KJ20JMXE7542 | Long             | EC               | CORP              | US        |    296818 | NS      | $68309694.52  | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Reckitt Benckiser Group plc                    | Reckitt Benckiser Group plc                                    | CUSIP: N/A<br>LEI: 5493003JFSMOJG48V108       | Long             | EC               | CORP              | GB        |   1317753 | NS      | $91338072.06  | 3.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Activision Blizzard, Inc.                      | Activision Blizzard, Inc.                                      | CUSIP: 00507V109<br>LEI: 549300TPQQDBP9GNOF40 | Long             | EC               | CORP              | US        |    806292 | NS      | $61721652.60  | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Walter Energy Corp.                            | Walter Energy, Inc., Litigation Trust, Contingent Distribution | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |   5229000 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| International Automotive Components Group BVBA | International Automotive Components Group Brazil LLC           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |   2846329 | NS      | $100185.09    | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| JPMorgan Chase & Co.                           | JPMorgan Chase & Co.                                           | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |    981594 | NS      | $131631755.40 | 4.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Haleon plc                                     | Haleon plc                                                     | CUSIP: N/A<br>LEI: 549300PSB3WWEODCUP19       | Long             | EC               | CORP              | GB        |  27522070 | NS      | $108889758.34 | 3.72%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                       | U.S. Treasury Bills                                            | CUSIP: 912796X95<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   1500000 | PA      | $1499697.50   | 0.05%             | 2023-01-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Global Payments, Inc.                          | Global Payments, Inc.                                          | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Long             | EC               | CORP              | US        |    939117 | NS      | $93273100.44  | 3.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto plc                                  | Rio Tinto plc                                                  | CUSIP: N/A<br>LEI: 213800YOEO5OQ72G2R82       | Long             | EC               | CORP              | GB        |   1164189 | NS      | $81936935.77  | 2.80%             |  |  |  | No            |                  2 | On Loan: No      |
| Tapestry, Inc.                                 | Tapestry, Inc.                                                 | CUSIP: 876030107<br>LEI: 549300LJNVY5SW3VTN33 | Long             | EC               | CORP              | US        |   2368958 | NS      | $90209920.64  | 3.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health, Inc.                          | Elevance Health, Inc.                                          | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |    129791 | NS      | $66578889.27  | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Digital Corp.                          | Western Digital Corp.                                          | CUSIP: 958102105<br>LEI: 549300QQXOOYEF89IC56 | Long             | EC               | CORP              | US        |   1595028 | NS      | $50323133.40  | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Heineken NV                                    | Heineken NV                                                    | CUSIP: N/A<br>LEI: 724500K5PTPSST86UQ23       | Long             | EC               | CORP              | NL        |   1026782 | NS      | $96710408.56  | 3.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Telekom AG                            | Deutsche Telekom AG                                            | CUSIP: N/A<br>LEI: 549300V9QSIG4WX4GJ96       | Long             | EC               | CORP              | DE        |   4316623 | NS      | $85882049.19  | 2.93%             |  |  |  | No            |                  2 | On Loan: No      |
| Elanco Animal Health, Inc.                     | Elanco Animal Health, Inc.                                     | CUSIP: 28414H103<br>LEI: 549300SHPNDCE059M934 | Long             | EC               | CORP              | US        |   5101850 | NS      | $62344607.00  | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications, Inc.                   | Charter Communications, Inc., Class A                          | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |    273236 | NS      | $92654327.60  | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                    | Novartis AG                                                    | CUSIP: 66987V109<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |   1161739 | NS      | $105392962.08 | 3.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Suncor Energy, Inc.                            | Suncor Energy, Inc.                                            | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |   1864565 | NS      | $59145544.13  | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixmor Property Group, Inc.                   | Brixmor Property Group, Inc.                                   | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |   3630812 | NS      | $82310508.04  | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Sensata Technologies Holding plc               | Sensata Technologies Holding plc                               | CUSIP: N/A<br>LEI: 529900MS7KFYCY9MS037       | Long             | EC               | CORP              | GB        |   2051263 | NS      | $82829999.94  | 2.83%             |  |  |  | No            |                  1 | 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