# EDGAR Filing Document

**Accession Number:** 0000825063
**File Stem:** 0001752724-25-203439
**Filing Date:** 2025-8
**Character Count:** 17767
**Document Hash:** f17a2176206d0cb74ed367fe483fc706
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-203439.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0001752724-25-203439

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FRANKLIN MUTUAL SERIES FUNDS
- **CENTRAL INDEX KEY:** 0000825063

**ORGANIZATION NAME:**
- **EIN:** 222894171
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05387
- **FILM NUMBER:** 251253134

**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:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**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:** $3322678769.70

**Total Liabilities:** $2846265.65

**Net Assets:** $3319832504.05

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000021375 | -1.85%               | 5.12%                | 3.13%                |
| Class ID C000021373 | -1.81%               | 5.17%                | 3.16%                |
| Class ID C000021376 | -1.78%               | 5.21%                | 3.17%                |
| Class ID C000128727 | -1.79%               | 5.21%                | 3.17%                |
| Class ID C000082421 | -1.78%               | 5.14%                | 3.16%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-23338749.86            | $-42029183.34                              |
| Month 2  | $31510822.85             | $120277005.73                              |
| Month 3  | $10595272.09             | $89113030.79                               |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BlackRock, Inc.                                        | BlackRock, Inc.                                                | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |    138118 | NS      | $144920311.50 | 4.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet, Inc.                                         | Alphabet, Inc., Class A                                        | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    522430 | NS      | $92067838.90  | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Gen Digital, Inc.                                      | Gen Digital, Inc.                                              | CUSIP: 668771108<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | EC               | CORP              | US        |   2305017 | NS      | $67767499.80  | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co., Inc.                                      | Merck & Co., Inc.                                              | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |    801618 | NS      | $63456080.88  | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas SA                                         | BNP Paribas SA                                                 | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | Long             | EC               | CORP              | FR        |    886195 | NS      | $79493204.54  | 2.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Johnson Controls International plc                     | Johnson Controls International plc                             | CUSIP: N/A<br>LEI: 549300XQ6S1GYKGBL205       | Long             | EC               | CORP              | IE        |   1284476 | NS      | $135666355.12 | 4.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Hartford Insurance Group, Inc. (The)                   | Hartford Insurance Group, Inc. (The)                           | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |   1072503 | NS      | $136068455.61 | 4.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Progressive Corp. (The)                                | Progressive Corp. (The)                                        | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |    503633 | NS      | $134399502.38 | 4.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Cie Financiere Richemont SA                            | Cie Financiere Richemont SA                                    | CUSIP: N/A<br>LEI: 549300YIPGJ6UX2QPS51       | Long             | EC               | CORP              | CH        |    654235 | NS      | $123802770.72 | 3.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Meta Platforms, Inc.                                   | Meta Platforms, Inc., Class A                                  | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     71386 | NS      | $52689292.74  | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic plc                                          | Medtronic plc                                                  | CUSIP: N/A<br>LEI: 549300GX3ZBSQWUXY261       | Long             | EC               | CORP              | IE        |   1022607 | NS      | $89140652.19  | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| DBS Group Holdings Ltd.                                | DBS Group Holdings Ltd.                                        | CUSIP: N/A<br>LEI: 5493007FKT78NKPM5V55       | Long             | EC               | CORP              | SG        |   4134749 | NS      | $145965248.66 | 4.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Reckitt Benckiser Group plc                            | Reckitt Benckiser Group plc                                    | CUSIP: N/A<br>LEI: 5493003JFSMOJG48V108       | Long             | EC               | CORP              | GB        |   1786133 | NS      | $121683891.42 | 3.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Cooper Cos., Inc. (The)                                | Cooper Cos., Inc. (The)                                        | CUSIP: 216648501<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |   1254456 | NS      | $89267088.96  | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Ulta Beauty, Inc.                                      | Ulta Beauty, Inc.                                              | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |    198480 | NS      | $92852913.60  | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Walter Energy, Inc.                                    | 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      |
| JPMorgan Chase & Co.                                   | JPMorgan Chase & Co.                                           | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |    558022 | NS      | $161776158.02 | 4.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Haleon plc                                             | Haleon plc                                                     | CUSIP: N/A<br>LEI: 549300PSB3WWEODCUP19       | Long             | EC               | CORP              | GB        |  24473336 | NS      | $125783934.75 | 3.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Schlumberger NV                                        | Schlumberger NV                                                | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |   1460980 | NS      | $49381124.00  | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Roche Holding AG                                       | Roche Holding AG                                               | CUSIP: N/A<br>LEI: 549300U41AUUVOAAOB37       | Long             | EC               | CORP              | CH        |    301069 | NS      | $98274909.24  | 2.96%             |  |  |  | No            |                  2 | On Loan: No      |
| Chevron Corp.                                          | Chevron Corp.                                                  | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    454792 | NS      | $65121666.48  | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Target Corp.                                           | Target Corp.                                                   | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |    340879 | NS      | $33627713.35  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell plc                                              | Shell plc                                                      | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | GB        |   1905604 | NS      | $66485672.07  | 2.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Reliance, Inc.                                         | Reliance, Inc.                                                 | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |    355715 | NS      | $111658938.50 | 3.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Payments, Inc.                                  | Global Payments, Inc.                                          | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Long             | EC               | CORP              | US        |    426710 | NS      | $34153868.40  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferguson Enterprises, Inc.                             | Ferguson Enterprises, Inc.                                     | CUSIP: 31488V107<br>LEI: 2138003JYQMRP3SLX189 | Long             | EC               | CORP              | US        |    633095 | NS      | $137856436.25 | 4.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health, Inc.                                  | Elevance Health, Inc.                                          | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |    149671 | NS      | $58216032.16  | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors NV                                  | NXP Semiconductors NV                                          | CUSIP: N/A<br>LEI: 724500M9BY5293JDF951       | Long             | EC               | CORP              | NL        |    343537 | NS      | $75059399.13  | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Heineken NV                                            | Heineken NV                                                    | CUSIP: N/A<br>LEI: 724500K5PTPSST86UQ23       | Long             | EC               | CORP              | NL        |   1284916 | NS      | $112099743.56 | 3.38%             |  |  |  | No            |                  2 | On Loan: No      |
| General Motors Co.                                     | General Motors Co.                                             | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |   1272731 | NS      | $62631092.51  | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific, Inc.                         | Thermo Fisher Scientific, Inc.                                 | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |    204738 | NS      | $83013069.48  | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Parker-Hannifin Corp.                                  | Parker-Hannifin Corp.                                          | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |    201887 | NS      | $141012012.89 | 4.25%             |  |  |  | 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        |  53040369 | NS      | $53040369.32  | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications, Inc.                           | Charter Communications, Inc., Class A                          | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |    186389 | NS      | $76197687.09  | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                            | Novartis AG                                                    | CUSIP: 66987V109<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |    825099 | NS      | $99845229.99  | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixmor Property Group, Inc.                           | Brixmor Property Group, Inc.                                   | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |   3822533 | NS      | $99538759.32  | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-30

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

**Signature:** Monica Krogh

**Name of Signer:** Monica Krogh

**Title:** Assistant Treasurer