# EDGAR Filing Document

**Accession Number:** 0000038721
**File Stem:** 0002071691-25-008005
**Filing Date:** 2025-12
**Character Count:** 290443
**Document Hash:** fa85d9717d8079e6b9c6ef3dfd69bfd9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-008005.hdr.sgml**: 20251212

**ACCESSION NUMBER**: 0002071691-25-008005

**CONFORMED SUBMISSION TYPE**: N-CEN

**PUBLIC DOCUMENT COUNT**: 5

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251212

**DATE AS OF CHANGE**: 20251212

**EFFECTIVENESS DATE**: 20251212

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Franklin Custodian Funds
- **CENTRAL INDEX KEY:** 0000038721

**ORGANIZATION NAME:**
- **EIN:** 132573775
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** N-CEN
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-00537
- **FILM NUMBER:** 251567659

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403-1906
- **BUSINESS PHONE:** 650-312-2000

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRANKLIN CUSTODIAN FUNDS
- **DATE OF NAME CHANGE:** 20080128

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRANKLIN CUSTODIAN FUNDS INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### FRANKLIN DYNATECH FUND (Series ID: S000006754)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018321 | Class A       | FKDNX           |
| C000018323 | Class C       | FDYNX           |
| C000066417 | Advisor Class | FDYZX           |
| C000068977 | Class R       | FDNRX           |
| C000128785 | Class R6      | FDTRX           |

### FRANKLIN GROWTH FUND (Series ID: S000006755)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018324 | Class A       | FKGRX           |
| C000018326 | Class C       | FRGSX           |
| C000018327 | Advisor Class | FCGAX           |
| C000018328 | Class R       | FGSRX           |
| C000128786 | Class R6      | FIFRX           |

### FRANKLIN INCOME FUND (Series ID: S000006756)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018329 | Class A1      | FKINX           |
| C000018332 | Class C       | FCISX           |
| C000018333 | Advisor Class | FRIAX           |
| C000018334 | Class R       | FISRX           |
| C000128787 | Class R6      | FNCFX           |
| C000199719 | Class A       | FKIQX           |

### FRANKLIN U.S. GOVERNMENT SECURITIES FUND (Series ID: S000006757)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018335 | Class A1      | FKUSX           |
| C000018337 | Class C       | FRUGX           |
| C000018338 | Advisor Class | FUSAX           |
| C000018339 | Class R       | FUSRX           |
| C000128788 | Class R6      | FGORX           |
| C000199720 | Class A       | FKFSX           |

### FRANKLIN UTILITIES FUND (Series ID: S000006758)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018340 | Class A1      | FKUTX           |
| C000018342 | Class C       | FRUSX           |
| C000018343 | Advisor Class | FRUAX           |
| C000018344 | Class R       | FRURX           |
| C000128789 | Class R6      | FUFRX           |
| C000199721 | Class A       | FKUQX           |

## Exempt

```

UNITED STATES OF AMERICA
BEFORE THE
SECURITIES AND EXCHANGE COMMISSION
INVESTMENT COMPANY ACT OF 1940
Release no. 32722/July 3, 2017
________________________________________________
In the Matter of :
:
Franklin Fund Allocator Series :
Franklin Advisers, Inc. :
Franklin Templeton Distributors, Inc. :
:
One Franklin Parkway :
San Mateo, CA 94403 :
:
(812-14611) :
________________________________________________:
ORDER UNDER SECTION 12(d)(1)(J) OF THE INVESTMENT COMPANY ACT OF
 1940 GRANTING AN EXEMPTION FROM SECTIONS 12(d)(1)(A), (B), AND
 (C) OF THE ACT, UNDER SECTIONS 6(c) AND 17(b) OF THE ACT
GRANTING AN EXEMPTION FROM SECTION 17(a) OF THE ACT, AND UNDER
 SECTION 6(C) OF THE ACT FOR AN EXEMPTION FROM RULE 12d1-2(a)
UNDER THE ACT
Franklin Fund Allocator Series, Franklin Advisers, Inc., and
 Franklin Templeton Distributors, Inc. filed an application
on February 9, 2016, and an amendment to the application on
May 23, 2017, requesting an order under section 12(d)(1)(J)
of the Investment Company Act of 1940 (the "Act") granting
 an exemption from sections 12(d)(1)(A), (B), and (C) of the
 Act, under sections 6(c) and 17(b) of the Act granting an
exemption from section 17(a) of the Act, and under section
6(c) of the Act for an exemption from rule 12d1-2(a) under
the Act. The order would permit (a) certain registered open-end
management investment companies that operate as "funds of funds"
 to acquire shares of certain registered open-end management
 investment companies, registered closed-end management investment
 companies, "business development companies," as defined by section
 2(a)(48) of the Act, and registered unit investment trusts that
 are within and outside the same group of investment companies as
 the acquiring investment companies and (b) certain registered
 open-end management investment companies relying on rule 12d1-2
 under the Act to invest in certain financial instruments.
On June 5, 2017, a notice of the filing of the application was
issued (Investment Company Act Release No. 32669). The notice
 gave interested persons an opportunity to request a hearing
 and stated that an order granting the application would be
issued unless a hearing was ordered. No request for a hearing
 has been filed, and the Commission has not ordered a hearing.
2
The matter has been considered and it is found, on the basis
of the information set forth in the application, as amended,
that granting the requested exemption is appropriate in and
consistent with the public interest and consistent with the
protection of investors and the purposes fairly intended by
 the policy and provisions of the Act.
It is also found that the terms of the proposed transactions
 are reasonable and fair and do not involve overreaching, and
 the proposed transactions are consistent with the policies of
 each registered investment company concerned and with the
 general purposes of the Act.
Accordingly,
IT IS ORDERED, that the relief requested under section 12(d)(1)(J)
 of the Act from sections 12(d)(1)(A), (B), and (C) of the Act,
 under sections 6(c) and 17(b) of the Act from section 17(a) of
the Act, and under section 6(c) of the Act for an exemption from
 rule 12d1-2(a) under the Act by Franklin Fund Allocator Series,
et al. (File No. 812-14611) is granted, effective immediately,
subject to the conditions contained in the application, as amended.
For the Commission, by the Division of Investment Management,
 under delegated authority.
Eduardo Aleman
Assistant Secretary

```

## Exempt

```

UNITED STATES OF AMERICA
BEFORE THE
SECURITIES AND EXCHANGE COMMISSION
INVESTMENT COMPANY ACT OF 1940
Release No. 33117 / June 5, 2018
__________________________________________________________________
In the Matter of :
:
FRANKLIN ALTERNATIVE STRATEGIES FUNDS :
FRANKLIN CALIFORNIA TAX-FREE INCOME FUND :
FRANKLIN CALIFORNIA TAX-FREE TRUST :
FRANKLIN CUSTODIAN FUNDS :
FRANKLIN ETF TRUST :
FRANKLIN FEDERAL TAX-FREE INCOME FUND :
FRANKLIN FLOATING RATE MASTER TRUST :
FRANKLIN FUND ALLOCATOR SERIES :
FRANKLIN GLOBAL TRUST :
FRANKLIN GOLD AND PRECIOUS METALS FUND :
FRANKLIN HIGH INCOME TRUST :
FRANKLIN INVESTORS SECURITIES TRUST :
FRANKLIN MANAGED TRUST :
FRANKLIN U.S. GOVERNMENT MONEY FUND :
FRANKLIN MUNICIPAL SECURITIES TRUST :
FRANKLIN MUTUAL SERIES FUNDS :
FRANKLIN NEW YORK TAX-FREE INCOME FUND :
FRANKLIN NEW YORK TAX-FREE TRUST :
FRANKLIN REAL ESTATE SECURITIES TRUST :
FRANKLIN STRATEGIC MORTGAGE PORTFOLIO :
FRANKLIN STRATEGIC SERIES :
FRANKLIN TAX-FREE TRUST :
FRANKLIN TEMPLETON ETF TRUST :
FRANKLIN TEMPLETON GLOBAL TRUST :
FRANKLIN TEMPLETON INTERNATIONAL TRUST :
FRANKLIN TEMPLETON MONEY FUND TRUST :
FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST :
FRANKLIN VALUE INVESTORS TRUST :
INSTITUTIONAL FIDUCIARY TRUST :
TEMPLETON CHINA WORLD FUND :
TEMPLETON DEVELOPING MARKETS TRUST :
TEMPLETON FUNDS :
TEMPLETON GLOBAL INVESTMENT TRUST :
TEMPLETON GLOBAL OPPORTUNITIES TRUST :
TEMPLETON GLOBAL SMALLER COMPANIES FUND :
TEMPLETON GROWTH FUND, INC. :
TEMPLETON INCOME TRUST :
TEMPLETON INSTITUTIONAL FUNDS :
THE MONEY MARKET PORTFOLIOS :
FRANKLIN LIMITED DURATION INCOME TRUST :
2
FRANKLIN UNIVERSAL TRUST :
TEMPLETON DRAGON FUND, INC. :
TEMPLETON EMERGING MARKETS FUND :
TEMPLETON EMERGING MARKETS INCOME FUND :
TEMPLETON GLOBAL INCOME FUND :
FRANKLIN ADVISERS, INC. :
FRANKLIN TEMPLETON INVESTMENT MANAGEMENT LIMITED :
K2/D&S MANAGEMENT CO., L.L.C. :
FASA LLC :
FRANKLIN TEMPLETON INSTITUTIONAL, LLC :
FRANKLIN ADVISORY SERVICES, LLC :
FRANKLIN MUTUAL ADVISERS, LLC :
TEMPLETON INVESTMENT COUNSEL, LLC :
TEMPLETON ASSET MANAGEMENT LTD. :
TEMPLETON GLOBAL ADVISORS LIMITED :
:
One Franklin Parkway :
San Mateo, CA 94403 :
:
(812-14819) :
__________________________________________________________________:
ORDER UNDER SECTION 6(c) OF THE INVESTMENT COMPANY ACT OF 1940
GRANTING AN EXEMPTION FROM SECTIONS 18(f) AND 21(b) OF THE ACT;
UNDER
SECTION 12(d)(1)(J) OF THE ACT GRANTING AN EXEMPTION FROM SECTION
12(d)(1) OF THE ACT; UNDER SECTIONS 6(c) AND 17(b) OF THE ACT
GRANTING AN
EXEMPTION FROM SECTIONS 17(a)(1), 17(a)(2), AND 17(a)(3) OF THE
 ACT; AND
UNDER SECTION 17(d) OF THE ACT AND RULE 17d-1 UNDER THE ACT TO
 PERMIT
CERTAIN JOINT ARRANGEMENTS AND TRANSACTIONS
Franklin Alternative Strategies Funds, Franklin California Tax-Free
 Income Fund, Franklin
California Tax-Free Trust, Franklin Custodian Funds, Franklin ETF
Trust, Franklin Federal Tax-
Free Income Fund, Franklin Floating Rate Master Trust, Franklin Fund
 Allocator Series, Franklin
Global Trust, Franklin Gold and Precious Metals Fund, Franklin High
 Income Trust, Franklin
Investors Securities Trust, Franklin Managed Trust, Franklin U.S.
 Government Money Fund,
Franklin Municipal Securities Trust, Franklin Mutual Series Funds,
 Franklin New York Tax-Free
Income Fund, Franklin New York Tax-Free Trust, Franklin Real Estate
 Securities Trust, Franklin
Strategic Mortgage Portfolio, Franklin Strategic Series, Franklin
 Tax-Free Trust, Franklin
Templeton ETF Trust, Franklin Templeton Global Trust, Franklin
Templeton International Trust,
Franklin Templeton Money Fund Trust, Franklin Templeton Variable
 Insurance Products Trust,
Franklin Value Investors Trust, Institutional Fiduciary Trust,
 Templeton China World Fund,
Templeton Developing Markets Trust, Templeton Funds, Templeton
 Global Investment Trust,
Templeton Global Opportunities Trust, Templeton Global Smaller
 Companies Fund, Templeton
Growth Fund, Inc., Templeton Income Trust, Templeton Institutional
Funds, The Money Market
Portfolios, Franklin Limited Duration Income Trust, Franklin
 Universal Trust, Templeton Dragon
Fund, Inc., Templeton Emerging Markets Fund, Templeton Emerging
 Markets Income Fund, and
Templeton Global Income Fund, Franklin Advisers, Inc., Franklin
 Templeton Investment
Management Limited, K2/D&S Management Co., L.L.C., FASA LLC,
Franklin Templeton
Institutional, LLC, Franklin Advisory Services, LLC, Franklin
Mutual Advisers, LLC, Templeton
3
Investment Counsel, LLC, Templeton Asset Management Ltd., and
 Templeton Global Advisors
Limited filed an application on September 14, 2017, and an
amendment on March 9, 2018.
Applicants requested an order under section 6(c) of the Investment
 Company Act of 1940 (the
"Act") for an exemption from sections 18(f) and 21(b) of the Act,
 under section 12(d)(1)(J) of
the Act for an exemption from section 12(d)(1) of the Act, under
 sections 6(c) and 17(b) of the
Act for an exemption from sections 17(a)(1), 17(a)(2), and 17(a)(3)
 of the Act, and under section
17(d) of the Act and rule 17d-1 under the Act to permit certain
joint arrangements and
transactions. The order supersedes a prior order1 and permits
certain registered management
investment companies to participate in a joint lending and
borrowing facility.
On May 10, 2018, a notice of the filing of the application was
 issued (Investment Company Act
Release No. 33095). The notice gave interested persons an
 opportunity to request a hearing and
stated that an order disposing of the application would be issued
unless a hearing was ordered.
No request for a hearing has been filed, and the Commission has
not ordered a hearing.
The matter has been considered and it is found, on the basis of
the information set forth in the
application, as amended, that granting the requested exemption
 is consistent with and appropriate
in the public interest, and consistent with the protection of
investors and the purposes fairly
intended by the policy and provisions of the Act.
It is also found that the terms of the proposed transactions,
including the consideration to be paid
or received, are reasonable and fair and do not involve
overreaching on the part of any person
concerned, and that the proposed transactions are consistent
with the policy of each registered
investment company concerned and the general purposes of the
 Act.
It is further found that the participation of each registered
 investment company in the proposed
credit facility is consistent with the provisions, policies,
and purposes of the Act, and not on a
basis different from or less advantageous than that of other
participants.
Accordingly, in the matter of Franklin Alternative Strategies
Funds, et al., (File No. 812-14819),
IT IS ORDERED, under section 6(c) of the Act, that the requested
 exemptions from sections
18(f) and 21(b) of the Act are granted, effective immediately,
 subject to the conditions in the
application, as amended.
IT IS FURTHER ORDERED, under section 12(d)(1)(J) of the Act,
that the requested exemption
from section 12(d)(1) of the Act is granted, effective immediately,
 subject to the conditions in
the application, as amended.
IT IS FURTHER ORDERED, under sections 6(c) and 17(b) of the Act,
 that the requested
exemptions from sections 17(a)(1), 17(a)(2), and 17(a)(3) of the
 Act are granted, effective
immediately, subject to the conditions in the application, as
amended.
1 Franklin Gold Fund, et al., Investment Company Act Release Nos.
 24016 (Sept. 16, 1999) (notice) and
24080 (Oct. 13, 1999) (order).
4
IT IS FURTHER ORDERED, under section 17(d) of the Act and rule
17d-1 under the Act, that
the proposed transactions are approved, effective immediately,
 subject to the conditions in the
application, as amended.
For the Commission, by the Division of Investment Management,
under delegated authority.
Eduardo A. Aleman
Assistant Secretary

```

## Exempt

```

SEC Releases, In the Matter of Age High Income Fund, Inc., et al.,
777 Mariners Island Boulevard, San Mateo, CA 94404, Securities and
 Exchange Commission, (Jan. 13, 1987)
SEC Releases
 Click to open document in a browser
37 SEC-DOCKET 569-02
Release No. IC-15534
File No. 812-6505
January 13, 1987
ORDER PERMITTING JOINT TRADING ACCOUNTS
AGE High Income Fund, Inc; Birr, Wilson Money Fund; Franklin
 California Tax-Free Income Fund, Inc.; Franklin New York Tax-Free
Income Fund, Inc; Franklin California Tax-Free Trust; Franklin
Tax-Free Trust; Franklin Corporate Cash Management Fund; Franklin
 Custodian Funds, Inc; Franklin Equity Fund; Franklin Federal Money
 Fund; Franklin Federal Tax-Free Income Fund; Franklin Gold Fund;
Franklin Money Fund; Franklin Option Fund; Franklin Tax-Exempt Money
 Fund; Franklin New York Tax-Exempt Money Fund; Franklin
Pennsylvania Investors Fund; and Institutional Fiduciary Trust
("Funds") and Franklin Advisers, Inc., filed an application on
 October 17, 1986, and an amendment thereto on November 24,
1986, requesting an order of the Commission under Section 17(d)
 of the Investment Company Act of 1940 ("Act") and Rule 17d-1
 thereunder to permit the Funds, as well as future investment
 companies for which subsidiaries or affiliates of Franklin
 Resources, Inc. serve as investment managers, to deposit
their cash balances remaining uninvested at the end of each
trading day into a single joint account whose daily balance
would be used to enter into one or more repurchase agreements
 in a total amount equal to the aggregate daily balance in
 the account ("Joint Accounts").
On December 17, 1986, a notice was issued (Investment Company
Act Release No. 15485) of the filing of the application. The
 notice gave interested persons an opportunity to request a
hearing and stated that an order disposing of the application
would be issued as of course unless a hearing should be ordered.
 No request for a hearing has been filed, and the Commission has
 not ordered a hearing.
The matter having been considered, it is found that the
participation of the Funds in the Joint Accounts is consistent
 with the provisions, policies and purposes of the Act and that
 their participation in the Joint Accounts is not on a basis less
 advantageous than that of any other participant. Accordingly,
IT IS ORDERED, pursuant to Section 17(d) of the Act and Rule 17d-1
 thereunder that the application to permit the Funds to participate
 in the Joint Accounts as described in the application, be, and
hereby is granted, effective forthwith.
For the Commission, by the Division of Investment Management,
under delegated authority.
Jonathan G. Katz
Secretary

```

## Internal

```

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Franklin Custodian Funds and Shareholders of
Franklin DynaTech Fund, Franklin Growth Fund, Franklin Income Fund, Franklin
U.S. Government Securities Fund and Franklin Utilities Fund

In planning and performing our audits of the financial statements of Franklin
DynaTech Fund, Franklin Growth Fund, Franklin Income Fund, Franklin U.S.
Government Securities Fund and Franklin Utilities Fund (constituting Franklin
Custodian Funds, hereafter collectively referred to as the "Funds") as of and
for the year ended September 30, 2025 in accordance with the standards of the
Public Company Accounting Oversight Board (United States) (PCAOB), we
considered the Funds' internal control over financial reporting, including
controls over safeguarding securities, as a basis for designing our auditing
procedures for the purpose of expressing our opinion on the financial
statements and to comply with the requirements of Form N-CEN, but not for the
purpose of expressing an opinion on the effectiveness of the Funds' internal
control over financial reporting. Accordingly, we do not express an opinion
on the effectiveness of the Funds' internal control over financial reporting.

The management of the Funds is responsible for establishing and maintaining
effective internal control over financial reporting. In fulfilling this
responsibility, estimates and judgments by management are required to assess
the expected benefits and related costs of controls. A company's internal
control over financial reporting is a process designed to provide reasonable
assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with
generally accepted accounting principles. A company's internal control over
financial reporting includes those policies and procedures that (1) pertain
to the maintenance of records that, in reasonable detail, accurately and
fairly reflect the transactions and dispositions of the assets of the company;
(2) provide reasonable assurance that transactions are recorded as necessary
to permit preparation of financial statements in accordance with generally
accepted accounting principles, and that receipts and expenditures of the
company are being made only in accordance with authorizations of management
and directors of the company; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorized acquisition, use or disposition
of a company's assets that could have a material effect on the financial
statements.

Because of its inherent limitations, internal control over financial reporting
may not prevent or detect misstatements. Also, projections of any evaluation
of effectiveness to future periods are subject to the risk that controls may
become inadequate because of changes in conditions, or that the degree of
compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the
design or operation of a control does not allow management or employees, in
the normal course of performing their assigned functions, to prevent or detect
misstatements on a timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control over financial reporting,
such that there is a reasonable possibility that a material misstatement of
the company's annual or interim financial statements will not be prevented or
detected on a timely basis.

Our consideration of the Funds' internal control over financial reporting was
for the limited purpose described in the first paragraph and would not
necessarily disclose all deficiencies in internal control over financial
reporting that might be material weaknesses under standards established by the
PCAOB. However, we noted no deficiencies in the Funds' internal control over
financial reporting and its operation, including controls over safeguarding
securities, that we consider to be as defined above as of September 30, 2025.

This report is intended solely for the information and use of the Board of
Trustees of Franklin Custodian Funds and the Securities and Exchange
Commission and is not intended to be and should not be used by anyone other
than these specified parties.

/s/PricewaterhouseCoopers LLP
San Francisco, California
November 19, 2025

```

# Form N-CEN: Annual Report for Registered Investment Companies

## N-CEN: Filer Information
**Submission Type:** N-CEN
**CIK:** 0000038721

## N-CEN: Series/Class (Contract) Information

### N-CEN: Part A: General Information

**Item A.1.a - Report for period ending:** 2025-09-30

**Item A.1.b - Does this report cover a period of less than 12 months?:** No

## N-CEN: Part B: Information About the Registrant

- **Item B.1.a - Full name of Registrant:** FRANKLIN CUSTODIAN FUNDS

- **Item B.1.b - Investment Company Act file number:** 811-00537

- **Item B.1.c - CIK:** 0000038721

- **Item B.1.d - LEI:** 549300PYEMTLTOE2MK86

- **Item B.2.a - Street 1:** ONE FRANKLIN PARKWAY

- **Item B.2.b - City:** SAN MATEO

- **Item B.2.c - State:** CA

- **Item B.2.e - Zip Code:** 94403-1906

- **Item B.2.f - Telephone:** 650-312-2000

- **Item B.2.g - Public Website:** franklintempleton.com

### Item B.3 - Location of books and records

**Location books Record: 1**

- **a. Name of person (e.g., a custodian of records):** Franklin Distributors, LLC

- **b. Street 1:** One Franklin Parkway

- **c. City:** San Mateo

- **d. State, if applicable:** CA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 94403-1906

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

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Principal underwriter

**Location books Record: 2**

- **a. Name of person (e.g., a custodian of records):** JPMorgan Chase Bank, N.A.

- **b. Street 1:** 380 Madison Avenue

- **c. City:** New York

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10017

- **g. Telephone number:** 212-270-6000

- **h. Briefly describe the books and records kept at this location:** Records relating to its functions as Sub-Administrator and Fund Accounting Agent

**Location books Record: 3**

- **a. Name of person (e.g., a custodian of records):** JPMorgan Chase Bank, N.A.

- **b. Street 1:** 390 Madison Avenue

- **c. City:** New York

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10017

- **g. Telephone number:** 212-464-1909

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Custodian

**Location books Record: 4**

- **a. Name of person (e.g., a custodian of records):** Franklin Advisers, Inc.

- **b. Street 1:** One Franklin Parkway

- **c. City:** San Mateo

- **d. State, if applicable:** CA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 94403-1906

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

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Investment manager

**Location books Record: 5**

- **a. Name of person (e.g., a custodian of records):** FIS Investor Services, LLC /TA

- **b. Street 1:** 4249 Easton Way Suite 400

- **c. City:** Columbus

- **d. State, if applicable:** OH

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 43219

- **g. Telephone number:** 614-337-6605

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Sub-Transfer agent

**Location books Record: 6**

- **a. Name of person (e.g., a custodian of records):** Franklin Templeton Investor Services, LLC

- **b. Street 1:** One Franklin Parkway

- **c. City:** San Mateo

- **d. State, if applicable:** CA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 94403-1906

- **g. Telephone number:** 650-312-6641

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Transfer agent

**Location books Record: 7**

- **a. Name of person (e.g., a custodian of records):** Franklin Templeton Services, LLC

- **b. Street 1:** One Franklin Parkway

- **c. City:** San Mateo

- **d. State, if applicable:** CA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 94403-1906

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

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Administrative manager

- **Item B.4.a - Is this the first filing by the Registrant?:** No

- **Item B.4.b - Is this the last filing by the Registrant?:** No

- **Item B.5.a - Is the Registrant part of a family of investment companies?:** Yes

- **Item B.5.a.i - Full name of family of investment companies:** Franklin Templeton Group of Funds

### Item B.6 - Organization

- [x] a. Open-end management investment company registered under the Act on Form N-1A

- [ ] b. Closed-end management investment company registered under the Act on Form N-2

- [ ] c. Separate account offering variable annuity contracts which is registered under the Act as a management investment company on Form N-3

- [ ] d. Separate account offering variable annuity contracts which is registered under the Act as a unit investment trust on Form N-4

- [ ] e. Small business investment company registered under the Act on Form N-5

- [ ] f. Separate account offering variable insurance contracts which is registered under the Act as a unit investment trust on Form N-6

- [ ] g. Unit investment trust registered under the Act on Form N-8B-2

- **Item B.6.i - Total number of Series:** 5

- **Item B.7 - Is the Registrant the issuer of a class of securities registered under the Securities Act?:** Yes

### Item B.8 - Directors

| Name                   | Is Interested Person?   | Other Investment Company File Numbers                                                                                                                                                                                                                                                                                                                                                                                                       |
|:---|:---|:---|
| Larry D. Thompson      | No                      | 811-07851, 811-07288, 811-04986, 811-04267, 811-02605, 811-04787, 811-04985, 811-21357, 811-09869, 811-05583, 811-05459, 811-01700, 811-04149, 811-07876, 811-03395, 811-06135, 811-01608, 811-07038, 811-06378, 811-00537, 811-04894, 811-02790, 811-06243, 811-06481, 811-10157, 811-02781, 811-08394, 811-03143, 811-08034, 811-04706, 811-08226, 811-05569, 811-04892, 811-07866, 811-03479, 811-04356                                  |
| Rupert H. Johnson, Jr. | Yes                     | 811-04787, 811-07288, 811-08226, 811-05569, 811-07866, 811-21357, 811-08034, 811-06481, 811-01608, 811-00537, 811-07876, 811-05583, 811-03143, 811-04986, 811-04356, 811-06378, 811-08394, 811-06243, 811-04892, 811-04985, 811-10157, 811-09869, 811-04267, 811-04706, 811-01700, 811-06135, 811-03395, 811-04894, 811-02781, 811-02605, 811-04149, 811-05459, 811-03479, 811-07038, 811-02790, 811-07851                                  |
| Edith E. Holiday       | No                      | 811-03395, 811-04149, 811-03479, 811-07038, 811-04267, 811-07288, 811-01608, 811-04356, 811-03143, 811-06243, 811-08394, 811-06378, 811-02605, 811-02781, 811-10157, 811-06135, 811-08034, 811-07866, 811-09869, 811-05583, 811-08226, 811-05459, 811-00537, 811-04986, 811-04985, 811-07876, 811-21357, 811-04894, 811-01700, 811-04892, 811-04787, 811-07851, 811-06481, 811-05569, 811-04706, 811-02790                                  |
| Terrence J. Checki     | No                      | 811-05583, 811-07288, 811-04986, 811-04787, 811-02605, 811-07038, 811-03395, 811-08034, 811-01608, 811-04149, 811-10157, 811-04894, 811-03479, 811-06243, 811-21357, 811-00537, 811-01700, 811-07851, 811-05569, 811-04267, 811-09869, 811-06481, 811-04356, 811-02790                                                                                                                                                                      |
| Mary C. Choksi         | No                      | 811-07288, 811-02790, 811-07866, 811-04356, 811-04267, 811-05583, 811-07038, 811-03395, 811-05459, 811-10157, 811-03143, 811-21357, 811-04986, 811-02781, 811-01700, 811-01608, 811-04894, 811-06243, 811-06135, 811-06378, 811-04892, 811-02605, 811-09869, 811-04706, 811-04985, 811-05569, 811-08394, 811-08034, 811-04149, 811-07876, 811-00537, 811-04787, 811-07851, 811-08226, 811-06481, 811-03479                                  |
| Valerie M. Williams    | No                      | 811-04787, 811-05569, 811-04986, 811-06243, 811-04356, 811-02605, 811-01700, 811-07851, 811-08034, 811-07038, 811-04149, 811-04894, 811-03479, 811-07288, 811-06481, 811-05583, 811-01608, 811-09869, 811-00537, 811-10157, 811-03395, 811-02790, 811-04267, 811-21357                                                                                                                                                                      |
| Harris J. Ashton       | No                      | 811-05459, 811-03143, 811-06135, 811-04892, 811-02790, 811-08226, 811-05583, 811-02605, 811-03395, 811-06243, 811-02781, 811-07876, 811-04986, 811-06378, 811-09869, 811-10157, 811-07851, 811-04894, 811-07038, 811-04985, 811-06481, 811-04787, 811-04149, 811-04706, 811-05569, 811-21357, 811-07866, 811-01700, 811-04267, 811-03479, 811-01608, 811-04356, 811-07288, 811-00537, 811-08034, 811-08394                                  |
| Gregory E. Johnson     | Yes                     | 811-08034, 811-04356, 811-05459, 811-05878, 811-02605, 811-08226, 811-04706, 811-05387, 811-04149, 811-01700, 811-03395, 811-10157, 811-07866, 811-22641, 811-09869, 811-07876, 811-04892, 811-21357, 811-04787, 811-08394, 811-02781, 811-04986, 811-00537, 811-07288, 811-02790, 811-06378, 811-07851, 811-05569, 811-03479, 811-07038, 811-06243, 811-05583, 811-03143, 811-06135, 811-04267, 811-06481, 811-04894, 811-01608, 811-04985 |
| J. Michael Luttig      | No                      | 811-07038, 811-07876, 811-06243, 811-04267, 811-10157, 811-03143, 811-04356, 811-02605, 811-06378, 811-01700, 811-08034, 811-07851, 811-08226, 811-07866, 811-01608, 811-07288, 811-03395, 811-02781, 811-05459, 811-04149, 811-05583, 811-04706, 811-03479, 811-06135, 811-04892, 811-05569, 811-00537, 811-04787, 811-02790, 811-04894, 811-21357, 811-04986, 811-04985, 811-06481, 811-09869, 811-08394                                  |

### Item B.9. Chief compliance officer.

**Chief compliance officer Record: 1**

- **a. Full Name:** Bjorn A. Davis

- **b. CRD Number, if any:** 004104631

- **c. Street Address 1:** 100 First Stamford Place

- **d. City:** Stamford

- **e. State, if applicable:** CT

- **f. Foreign country, if applicable:** US

- **g. Zip code:** 06902

- **h. Telephone number:** XXXXXX

- **i. Has the chief compliance officer changed since the last filing?:** No

If the chief compliance officer is compensated or employed by any person other than the Registrant, provide:

**CCO employer Record: 1**

- **i. Name of the person:** —

- **ii. Person’s IRS Employer Identification Number:** —

### Item B.10. Matters for security holder vote.

- **Were any matters submitted by the Registrant for its security holders’ vote during the reporting period?** No

- **Item B.11.a - Have there been any material legal proceedings?:** No

- **Item B.11.b - Has any proceeding previously reported been terminated?:** No

- **Item B.12.a - Were any claims with respect to the Registrant filed under a fidelity bond?:** No

- **Item B.13.a - Are the Registrant's officers or directors covered under any insurance policy?:** Yes

- **Item B.13.a.i - If yes, were any claims filed under the policy during the reporting period?:** No

- **Item B.14 - Did an affiliated person provide any form of financial support to the Registrant?:** No

- **Item B.15.a.i - Release numbers:**
  - IC-32722
  - IC-33117
  - IC-15534

### Item B.16. Principal underwriters.

**Principal underwriter Record: 1**

- **i. Full name:** Franklin Distributors, LLC

- **ii. SEC file number:** 8-5889

- **iii. CRD number:** 000000332

- **iv. LEI, if any:** N/A

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Is the principal underwriter an affiliated person...?:** Yes

- **b. Have any principal underwriters been hired or terminated during the reporting period?** No

### Item B.17. Independent public accountant.

**Public accountant Record: 1**

- **a. Full Name:** PRICEWATERHOUSECOOPERS LLP

- **b. PCAOB Number:** 238

- **c. LEI, if any:** 5493002GVO7EO8RNNS37

- **d. State, if applicable:** CA

- **e. Foreign country, if applicable:** US

- **f. Has the independent public accountant changed since the last filing?** No

- **Item B.18 - Did an independent public accountant's report on internal control note any material weaknesses?:** No

- **Item B.19 - Did an independent public accountant issue an opinion other than an unqualified opinion?:** No

- **Item B.20 - Have there been material changes in the method of valuation?:** No

- **Item B.21 - Have there been any changes in accounting principles or practices?:** No

- **Item B.22.a - Were any payments made to shareholders as a result of an error in calculating NAV?:** No

## Part C: Additional Questions for Management Investment Companies

### Management Investment Record: 1 - Franklin Utilities Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Franklin Utilities Fund

- **b. Series identification number, if any:** S000006758

- **c. LEI:** 5493004WS5Z50HMQS896

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 6

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class A1                | C000018340                                | FKUTX                        |
|                           2 | Advisor Class           | C000018343                                | FRUAX                        |
|                           3 | Class R6                | C000128789                                | FUFRX                        |
|                           4 | Class C                 | C000018342                                | FRUSX                        |
|                           5 | Class A                 | C000199721                                | FKUQX                        |
|                           6 | Class R                 | C000018344                                | FRURX                        |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [x] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** Goldman Sachs Bank USA

- **ii. LEI, if any:** KD3XUN7C6T14HNAYLU02

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Advisers, Inc.

- **ii. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $0.00

- **g. Provide the net income from securities lending activities:** $92.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 32a-4 (17 CFR 270.32a-4)

- Rule 12d1-1 (17 CFR 270.12d1-1)

- Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))

- Rule 22d-1 (17 CFR 270.22d-1)

- Rule 18f-4 (17 CFR 270.18f-4)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Franklin Advisers, Inc.

- **ii. SEC file number:** 801-26292

- **iii. CRD number:** 000104517

- **iv. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. SEC file number:** 084-01036

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

**Transfer Agents Record: 2**

- **i. Full name:** FIS Investor Services, LLC /TA

- **ii. SEC file number:** 084-06522

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** OH

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

- **b. Has a transfer agent been hired or terminated during the reporting period?** No

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** LSEG US FIN CORP.

- **ii. LEI, if any, or provide and describe other identifying number:** 2138007FV67QQ13CGJ43

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 2**

- **i. Full name:** Franklin Templeton Investor Services LLC

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Self - rule 17f-2 (17 CFR 270.17f-2)

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** Franklin Templeton Services, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

**Administrators Record: 2**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 8-5889

- **c. CRD number:** 000000332

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 2**

- **a. Full name:** Franklin Templeton Financial Services Corp.

- **b. SEC file number:** 8-29504

- **c. CRD number:** 000013594

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 3**

- **a. Full name:** Franklin Templeton Investment Services, Inc.

- **b. SEC file number:** 8-43206

- **c. CRD number:** 000027884

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** J.P. Morgan Securities LLC

- **ii. SEC file number:** 8-35008

- **iii. CRD number:** 000000079

- **iv. LEI, if any:** ZBUT11V806EZRVTWT807

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $88,508.36

**Brokers Record: 2**

- **i. Full name of broker:** Morgan Stanley & Co. LLC

- **ii. SEC file number:** 8-15869

- **iii. CRD number:** 000008209

- **iv. LEI, if any:** 9R7GPTSO7KV3UQJZQ078

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $33,019.71

**Brokers Record: 3**

- **i. Full name of broker:** BTIG, LLC

- **ii. SEC file number:** 8-65473

- **iii. CRD number:** 000122225

- **iv. LEI, if any:** 549300GTG9PL6WO3EC51

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $37,500.00

**Brokers Record: 4**

- **i. Full name of broker:** Rosenblatt Securities Inc.

- **ii. SEC file number:** 8-24255

- **iii. CRD number:** 000018377

- **iv. LEI, if any:** 549300KXQP6H4QO07E91

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $32,527.43

**Brokers Record: 5**

- **i. Full name of broker:** Goldman Sachs & Co. LLC

- **ii. SEC file number:** 8-00129

- **iii. CRD number:** 000000361

- **iv. LEI, if any:** FOR8UP27PHTHYVLBNG30

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $48,062.50

**Brokers Record: 6**

- **i. Full name of broker:** JonesTrading Institutional Services LLC

- **ii. SEC file number:** 8-26089

- **iii. CRD number:** 000006888

- **iv. LEI, if any:** 2138008JJ5PA8H5UIL69

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $44,347.50

**Brokers Record: 7**

- **i. Full name of broker:** RBC Capital Markets, LLC

- **ii. SEC file number:** 8-45411

- **iii. CRD number:** 000031194

- **iv. LEI, if any:** 549300LCO2FLSSVFFR64

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $87,497.33

**Brokers Record: 8**

- **i. Full name of broker:** Citigroup Global Markets Inc.

- **ii. SEC file number:** 8-08177

- **iii. CRD number:** 000007059

- **iv. LEI, if any:** MBNUM2BPBDO7JBLYG310

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $62,112.24

**Brokers Record: 9**

- **i. Full name of broker:** Cowen and Company

- **ii. SEC file number:** 8-22522

- **iii. CRD number:** 000007616

- **iv. LEI, if any:** 549300WR155U7DVMIW58

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $38,750.00

**Brokers Record: 10**

- **i. Full name of broker:** ROBERT W. BAIRD & CO. INCORPORATED

- **ii. SEC file number:** 8-00497

- **iii. CRD number:** 000008158

- **iv. LEI, if any:** 549300772UJAHRD6LO53

- **v. State, if applicable:** WI

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $34,710.85

**Aggregate Commission:** $687,575.84

**Item C.17.a. Principal transaction counterparties.**

| Name                                  | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| RBC Capital Markets, LLC              | 8-45411           | 000031194    | 549300LCO2FLSSVFFR64 | NY      | US        | $5,580,000.00             |
| Goldman Sachs & Co. LLC               | 8-00129           | 000000361    | FOR8UP27PHTHYVLBNG30 | NY      | US        | $29,999,912.00            |
| J.P. Morgan Securities LLC            | 8-35008           | 000000079    | ZBUT11V806EZRVTWT807 | NY      | US        | $1,141,830,248.36         |
| Morgan Stanley & Co. LLC              | 8-15869           | 000008209    | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $19,999,920.00            |
| Barclays Capital, Inc.                | 8-41342           | 000019714    | AC28XWWI3WIBK2824319 | NY      | US        | $49,999,949.00            |
| Fiduciary Trust Company International | N/A               | N/A          | N1YKEWO2IYPRS4742F57 | CA      | US        | $858,136.29               |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $1,248,268,165.65

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $6,718,211,374.30

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,995,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 2 Name of institution:** MORGAN STANLEY SENIOR FUNDING, INC.

  - **Line Institutions Record: 3 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 4 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 5 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 6 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 7 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 8 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 9 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 10 Name of institution:** DEUTSCHE BANK SECURITIES INC.

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                                                  | SEC File number   |
|:---|:---|
| Putnam VT Focused International Equity Fund                                                   | 811-05346         |
| Putnam Ohio Tax Exempt Income Fund                                                            | 811-04528         |
| Franklin Templeton SMACS:  Series CH                                                          | 811-06243         |
| Putnam Short-Term Municipal Income Fund                                                       | 811-07513         |
| Franklin Oregon Tax-Free Income Fund                                                          | 811-04149         |
| Franklin Income VIP Fund                                                                      | 811-05583         |
| Western Asset Short Duration Income ETF                                                       | 811-23096         |
| Putnam VT International Value Fund                                                            | 811-05346         |
| Putnam VT High Yield Fund                                                                     | 811-05346         |
| Franklin Real Estate Securities Fund                                                          | 811-08034         |
| Putnam New York Tax Exempt Income Fund                                                        | 811-03741         |
| Franklin Multi-Asset Variable Growth Fund                                                     | 811-21128         |
| Putnam VT Government Money Market Fund                                                        | 811-05346         |
| Putnam Small Cap Value Fund                                                                   | 811-07237         |
| Putnam Pennsylvania Tax Exempt Income Fund                                                    | 811-05802         |
| Western Asset Intermediate Bond Fund                                                          | 811-06110         |
| ClearBridge Mid Cap Fund                                                                      | 811-06444         |
| Western Asset SMASh Series TF Fund                                                            | 811-06740         |
| Putnam PanAgora ESG Emerging Markets Equity ETF                                               | 811-23643         |
| Putnam VT Small Cap Growth Fund                                                               | 811-05346         |
| Western Asset Intermediate Maturity New York Municipals Fund                                  | 811-04254         |
| Templeton Global Bond Fund                                                                    | 811-04706         |
| Franklin Multi-Asset Conservative Growth Fund                                                 | 811-06444         |
| Franklin International Equity Fund (fka QS International Equity Fund)                         | 811-22338         |
| Franklin Mutual Global Discovery VIP Fund                                                     | 811-05583         |
| Putnam Minnesota Tax Exempt Income Fund                                                       | 811-04527         |
| Franklin LifeSmart 2050 Retirement Target Fund                                                | 811-07851         |
| Franklin VolSmart Allocation VIP Fund                                                         | 811-05583         |
| Franklin Missouri Tax-Free Income Fund                                                        | 811-04149         |
| Putnam Government Money Market Fund                                                           | 811-07237         |
| ClearBridge Mid Cap Growth Fund                                                               | 811-06444         |
| Putnam VT Sustainable Leaders Fund                                                            | 811-05346         |
| Franklin Templeton Moderately Conservative Model Portfolio                                    | 811-21128         |
| Franklin LifeSmart 2045 Retirement Target Fund                                                | 811-07851         |
| Putnam Global Technology Fund                                                                 | 811-07513         |
| Putnam Money Market Fund                                                                      | 811-02608         |
| Putnam New Jersey Tax Exempt Income Fund                                                      | 811-05977         |
| Western Asset SMASh Series Core Plus Completion                                               | 811-06740         |
| Putnam Short Duration Bond Fund                                                               | 811-07513         |
| BrandywineGLOBAL - High Yield Fund                                                            | 811-06444         |
| Templeton Developing Markets VIP Fund                                                         | 811-05583         |
| Franklin LifeSmart Retirement Income Fund                                                     | 811-07851         |
| ClearBridge International Growth Fund                                                         | 811-22338         |
| Franklin Virginia Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Floating Rate Master Series                                                          | 811-09869         |
| Franklin Michigan Tax-Free Income Fund                                                        | 811-04149         |
| Franklin International Growth Fund                                                            | 811-10157         |
| Putnam Research Fund                                                                          | 811-07237         |
| Franklin Managed Income Fund                                                                  | 811-04986         |
| Martin Currie Emerging Markets Fund                                                           | 811-22338         |
| Templeton Emerging Markets Small Cap Fund                                                     | 811-08226         |
| Putnam Strategic Intermediate Municipal Fund                                                  | 811-04345         |
| Templeton International Bond Fund                                                             | 811-04706         |
| Western Asset Core Bond Fund                                                                  | 811-06110         |
| Franklin New York Tax-Free Income Fund                                                        | 811-03479         |
| Franklin Total Return Fund                                                                    | 811-04986         |
| Putnam Intermediate-Term Municipal Income Fund                                                | 811-07513         |
| Putnam California Tax Exempt Income Fund                                                      | 811-03630         |
| ClearBridge Value Fund                                                                        | 811-22338         |
| Franklin Equity Income Fund                                                                   | 811-04986         |
| BrandywineGLOBAL - Global Opportuniites Bond Fund                                             | 811-22338         |
| Putnam Global Health Care Fund                                                                | 811-03386         |
| Franklin U.S. Government Securities Fund                                                      | 811-00537         |
| Western Asset Inflation Indexed Plus Bond Fund                                                | 811-06110         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund                                        | 811-22338         |
| Putnam Large Cap Growth Fund (f/k/a Putnam Growth Opportunities Fund)                         | 811-07237         |
| Putnam ESG Core Bond ETF                                                                      | 811-23643         |
| K2 Alternative Strategies Fund                                                                | 811-22641         |
| Franklin Floating Rate Daily Access Fund                                                      | 811-04986         |
| Franklin Mutual Beacon Fund                                                                   | 811-05387         |
| Franklin Conservative Allocation Fund                                                         | 811-07851         |
| Franklin Allocation VIP Fund (f/k/a Franklin Founding Funds Allocation VIP Fund)              | 811-05583         |
| Putnam Focused Equity Fund                                                                    | 811-07513         |
| Franklin Multi-Asset Defensive Growth Fund                                                    | 811-06444         |
| Templeton Sustainable Emerging Markets Bond Fund                                              | 811-04706         |
| Western Asset Ultra-Short Income Fund                                                         | 811-04254         |
| Franklin Growth and Income VIP Fund                                                           | 811-05583         |
| ClearBridge Growth Fund                                                                       | 811-06444         |
| Templeton World Fund                                                                          | 811-02781         |
| Putnam VT Core Equity Fund (f/k/a Putnam VT Multi-Cap Core Fund)                              | 811-05346         |
| Western Asset Short Duration High Income Fund                                                 | 811-04254         |
| Western Asset Municipal High Income Fund                                                      | 811-04254         |
| Western Asset Intermediate-Term Municipals Fund                                               | 811-04254         |
| Franklin LifeSmart 2020 Retirement Target Fund                                                | 811-07851         |
| ClearBridge Variable Small Cap Growth Portfolio                                               | 811-21128         |
| Putnam Large Cap Value Fund                                                                   | 811-02742         |
| Franklin New York Intermediate-Term Tax-Free Income Fund                                      | 811-04787         |
| Putnam Floating Rate Income Fund                                                              | 811-07513         |
| Franklin Alabama Tax-Free Income Fund                                                         | 811-04149         |
| ClearBridge Variable Large Cap Growth Portfolio                                               | 811-21128         |
| Franklin Corefolio Allocation Fund                                                            | 811-07851         |
| Franklin Biotechnology Discovery Fund                                                         | 811-06243         |
| Putnam Diversified Income Trust                                                               | 811-05635         |
| ClearBridge Variable Large Cap Value Portfolio                                                | 811-21128         |
| Templeton Global Balanced Fund                                                                | 811-08226         |
| ClearBridge Tactical Dividend Income Fund                                                     | 811-06444         |
| Templeton Growth Fund, Inc.                                                                   | 811-04892         |
| Putnam Mortgage Securities Fund                                                               | 811-03897         |
| Franklin Rising Dividends VIP Fund                                                            | 811-05583         |
| Putnam Convertible Securities Fund                                                            | 811-02280         |
| Templeton Growth VIP Fund                                                                     | 811-05583         |
| Franklin Natural Resources Fund                                                               | 811-06243         |
| Putnam International Capital Opportunities Fund                                               | 811-07237         |
| Western Asset Pennsylvania Municipals Fund                                                    | 811-04254         |
| Franklin Templeton Moderate Model Portfolio                                                   | 811-21128         |
| Franklin Templeton Conservative Model Portfolio                                               | 811-21128         |
| Franklin Louisiana Tax-Free Income Fund                                                       | 811-04149         |
| Putnam Tax Exempt Income Fund                                                                 | 811-02675         |
| Western Asset SMASh Series C Fund                                                             | 811-06740         |
| ClearBridge Large Cap Growth Fund                                                             | 811-06444         |
| Franklin Mutual Shares Fund                                                                   | 811-05387         |
| Western Asset Corporate Bond Fund                                                             | 811-04254         |
| Templeton Global Total Return Fund                                                            | 811-04706         |
| Franklin Mutual International Value Fund                                                      | 811-05387         |
| Franklin North Carolina Tax-Free Income Fund                                                  | 811-04149         |
| Foreign Smaller Companies Series                                                              | 811-06135         |
| ClearBridge Select Fund                                                                       | 811-06444         |
| Franklin Large Cap Growth VIP Fund                                                            | 811-05583         |
| Putnam VT George Putnam Balanced Fund                                                         | 811-05346         |
| Templeton Global Smaller Companies Fund                                                       | 811-03143         |
| Templeton Foreign Fund                                                                        | 811-02781         |
| Franklin Strategic Income VIP Fund                                                            | 811-05583         |
| Franklin Growth Allocation Fund                                                               | 811-07851         |
| Franklin Strategic Mortgage Portfolio                                                         | 811-07288         |
| Putnam VT Global Health Care Fund                                                             | 811-05346         |
| Western Asset Short-Term Bond Fund                                                            | 811-04254         |
| Franklin High Income Fund                                                                     | 811-01608         |
| Western Asset High Yield Fund                                                                 | 811-06110         |
| Franklin Templeton SMACS:  Series H                                                           | 811-06243         |
| Putnam Income Fund                                                                            | 811-00653         |
| Templeton Foreign VIP Fund                                                                    | 811-05583         |
| Franklin Templeton SMACS:  Series EM                                                          | 811-08226         |
| ClearBridge Variable Appreciation Portfolio                                                   | 811-21128         |
| Putnam Core Bond Fund (f/k/a Putnam Fixed Income Absolute Return Fund)                        | 811-07513         |
| BrandywineGLOBAL - Alternative Credit Fund                                                    | 811-22338         |
| Franklin Templeton Moderately Aggressive Model Portfolio                                      | 811-21128         |
| Franklin DynaTech VIP Fund                                                                    | 811-05583         |
| Western Asset California Municipals Fund                                                      | 811-04254         |
| ClearBridge Large Cap Value Fund                                                              | 811-06444         |
| Western Asset New York Municipals Fund                                                        | 811-04254         |
| Putnam Multi-Asset Income Fund                                                                | 811-07121         |
| Putnam Sustainable Leaders Fund                                                               | 811-06128         |
| Putnam Sustainable Future Fund                                                                | 811-07237         |
| Franklin Small-Mid Cap Growth VIP Fund                                                        | 811-05583         |
| ClearBridge Small Cap Growth Fund                                                             | 811-06444         |
| BrandywineGLOBAL - Flexible Bond Fund                                                         | 811-22338         |
| Putnam VT Mortgage Securities Fund                                                            | 811-05346         |
| Putnam Focused International Equity Fund                                                      | 811-01403         |
| Putnam Focused Large Cap Growth ETF                                                           | 811-23643         |
| Western Asset Total Return ETF                                                                | 811-23096         |
| Franklin Multi-Asset Variable Moderate Growth Fund                                            | 811-21128         |
| Putnam Focused Large Cap Value ETF                                                            | 811-23643         |
| Franklin Low Duration Total Return Fund                                                       | 811-04986         |
| Franklin LifeSmart 2035 Retirement Target Fund                                                | 811-07851         |
| Putnam VT Emerging Markets Equity Fund                                                        | 811-05346         |
| Templeton Global Bond VIP Fund                                                                | 811-05583         |
| Franklin U.S. Government Securities VIP Fund                                                  | 811-05583         |
| Western Asset Core Plus VIT Portfolio                                                         | 811-06310         |
| Putnam ESG High Yield ETF                                                                     | 811-23643         |
| Putnam Dynamic Asset Allocation Growth Fund                                                   | 811-07121         |
| Franklin Mutual Global Discovery Fund                                                         | 811-05387         |
| Western Asset Variable Global High Yield Bond Portfolio                                       | 811-06310         |
| Putnam International Value Fund                                                               | 811-07513         |
| Putnam Global Income Trust                                                                    | 811-04524         |
| Franklin LifeSmart 2055 Retirement Target Fund                                                | 811-07851         |
| Franklin DynaTech Fund                                                                        | 811-00537         |
| Franklin Multi-Asset Moderate Growth Fund                                                     | 811-06444         |
| Western Asset Income Fund                                                                     | 811-04254         |
| Western Asset SMASh Series Core Completion Fund                                               | 811-06740         |
| Putnam Dynamic Asset Allocation Equity Fund                                                   | 811-07513         |
| Franklin Massachusetts Tax-Free Income Fund                                                   | 811-04149         |
| Franklin Small Cap Value Fund                                                                 | 811-05878         |
| Putnam VT Sustainable Future Fund                                                             | 811-05346         |
| Franklin Global Real Estate VIP Fund                                                          | 811-05583         |
| Putnam Emerging Markets Equity Fund                                                           | 811-07513         |
| ClearBridge Sustainability Leaders Fund                                                       | 811-06444         |
| Western Asset Intermediate Maturity California Municipals Fund                                | 811-04254         |
| Western Asset Oregon Municipals Fund                                                          | 811-04254         |
| Franklin LifeSmart 2030 Retirement Target Fund                                                | 811-07851         |
| Putnam BioRevolution ETF                                                                      | 811-23643         |
| ClearBridge Dividend Strategy Fund                                                            | 811-06444         |
| Franklin Pennsylvania Tax-Free Income Fund                                                    | 811-04149         |
| Putnam Ultra Short Duration Income Fund                                                       | 811-07513         |
| Franklin Core Plus Bond Fund                                                                  | 811-06243         |
| Putnam Dynamic Asset Allocation Conservative Fund                                             | 811-07121         |
| Putnam Core Equity Fund (f/k/a Putnam Multi-Cap Core Fund)                                    | 811-07513         |
| ClearBridge Variable Mid Cap Portfolio                                                        | 811-21128         |
| Martin Currie SMASh Series EM Fund                                                            | 811-22338         |
| BrandywineGLOBAL - Corporate Credit Fund                                                      | 811-06444         |
| Putnam VT Large Cap Value Fund                                                                | 811-05346         |
| Franklin New Jersey Tax-Free Income Fund                                                      | 811-04149         |
| Western Asset SMASh Series M Fund                                                             | 811-06740         |
| Putnam VT Research Fund                                                                       | 811-05346         |
| Western Asset Core Plus Bond Fund                                                             | 811-06110         |
| Franklin Templeton Aggressive Model Portfolio                                                 | 811-21128         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund                                       | 811-04149         |
| Franklin Templeton SMACS:  Series E                                                           | 811-06243         |
| Putnam High Yield Fund                                                                        | 811-04616         |
| Franklin Growth Opportunities Fund                                                            | 811-06243         |
| Franklin Federal Limited-Term Tax-Free Income Fund                                            | 811-04149         |
| Putnam VT International Equity Fund                                                           | 811-05346         |
| Franklin Arizona Tax-Free Income Fund                                                         | 811-04149         |
| Franklin High Yield Corporate ETF                                                             | 811-23124         |
| Western Asset Short Duration Municipal Income Fund                                            | 811-04254         |
| Putnam Mortgage Opportunities Fund                                                            | 811-07513         |
| Franklin California High Yield Municipal Fund                                                 | 811-06481         |
| Western Asset Mortgage Total Return Fund                                                      | 811-04254         |
| Western Asset New Jersey Municipals Fund                                                      | 811-04254         |
| Putnam Emerging Markets Ex-China ETF                                                          | 811-23643         |
| Franklin Global Equity Fund                                                                   | 811-06444         |
| Templeton Developing Markets Trust                                                            | 811-06378         |
| Putnam VT Income Fund                                                                         | 811-05346         |
| ClearBridge Variable Dividend Strategy Portfolio                                              | 811-21128         |
| ClearBridge International Value Fund                                                          | 811-06444         |
| ClearBridge Small Cap Fund                                                                    | 811-22338         |
| Franklin LifeSmart 2040 Retirement Target Fund                                                | 811-07851         |
| Western Asset Massachusetts Municipals Fund                                                   | 811-04254         |
| Franklin Global Allocation Fund                                                               | 811-07851         |
| Franklin Georgia Tax-Free Income Fund                                                         | 811-04149         |
| Franklin Maryland Tax-Free Income Fund                                                        | 811-04149         |
| Putnam ESG Ultra Short ETF                                                                    | 811-23643         |
| Franklin Connecticut Tax-Free Income Fund                                                     | 811-04149         |
| Franklin LifeSmart 2025 Retirement Target Fund                                                | 811-07851         |
| Franklin Long Duration Credit Fund                                                            | 811-04986         |
| Putnam BDC Income ETF                                                                         | 811-23643         |
| George Putnam Balanced Fund                                                                   | 811-00058         |
| Putnam VT Diversified Income Fund                                                             | 811-05346         |
| Putnam Ultra Short MAC Series                                                                 | 811-07513         |
| Putnam VT Large Cap Growth Fund (f/k/a Putnam VT Growth Opportunities Fund)                   | 811-05346         |
| Franklin Emerging Market Debt Opportunities Fund                                              | 811-10157         |
| Putnam Tax-Free High Yield Fund                                                               | 811-04345         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund                                             | 811-22338         |
| Franklin Small-Mid Cap Growth Fund                                                            | 811-06243         |
| Franklin U.S. Large Cap Equity Fund                                                           | 811-06444         |
| ClearBridge Appreciation Fund                                                                 | 811-06444         |
| Putnam International Equity Fund                                                              | 811-06190         |
| Franklin Convertible Securities Fund                                                          | 811-04986         |
| Franklin Mutual Quest Fund                                                                    | 811-05387         |
| Franklin Small Cap Growth Fund                                                                | 811-06243         |
| International Equity Series                                                                   | 811-06135         |
| Franklin Moderate Allocation Fund                                                             | 811-07851         |
| Franklin Gold and Precious Metals Fund                                                        | 811-01700         |
| Franklin Ohio Tax-Free Income Fund                                                            | 811-04149         |
| Franklin Mutual Small-Mid Cap Value Fund                                                      | 811-05878         |
| Western Asset Long Credit VIT                                                                 | 811-06310         |
| Franklin Small Cap Value VIP Fund                                                             | 811-05583         |
| Putnam Massachusetts Tax Exempt Income Fund                                                   | 811-04518         |
| Putnam Sustainable Leaders ETF                                                                | 811-23643         |
| Franklin Mutual U.S. Mid Cap Value Fund                                                       | 811-05878         |
| Franklin Mutual Shares VIP Fund                                                               | 811-05583         |
| Franklin LifeSmart 2060 Retirement Target Fund                                                | 811-07851         |
| Franklin Multi-Asset Growth Fund                                                              | 811-06444         |
| Franklin S&P 500 Index Fund                                                                   | 811-06444         |
| ClearBridge Global Infrastructure Income Fund                                                 | 811-22338         |
| Putnam Sustainable Future ETF                                                                 | 811-23643         |
| Franklin Federal Tax-Free Income Fund                                                         | 811-03395         |
| Putnam VT Small Cap Value Fund                                                                | 811-05346         |
| ClearBridge Variable Growth Portfolio                                                         | 811-21128         |
| Franklin Senior Loan ETF                                                                      | 811-23124         |
| Franklin Low Duration U.S. Government Securities Fund                                         | 811-04986         |
| Franklin Minnesota Tax-Free Income Fund                                                       | 811-04149         |
| Western Asset Total Return Unconstrained Fund                                                 | 811-06110         |
| Franklin Rising Dividends Fund                                                                | 811-04894         |
| Franklin California Tax-Free Income Fund                                                      | 811-02790         |
| Franklin Templeton SMACS:  Series I                                                           | 811-06243         |
| Putnam VT Global Asset Allocation Fund                                                        | 811-05346         |
| Franklin Income Fund                                                                          | 811-00537         |
| Putnam Dynamic Asset Allocation Balanced Fund                                                 | 811-07121         |
| Franklin High Yield Tax-Free Income Fund                                                      | 811-04149         |
| Franklin U.S. Small Capitalization Equity Fund (fka QS U.S. Small Capitalization Equity Fund) | 811-22338         |
| Western Asset Bond ETF                                                                        | 811-23124         |
| Franklin California Intermediate-Term Tax-Free Income Fund                                    | 811-04356         |
| Putnam PanAgora ESG International Equity ETF                                                  | 811-23643         |
| Franklin Growth Fund                                                                          | 811-00537         |
| Putnam Small Cap Growth Fund                                                                  | 811-07513         |
| Franklin Multi-Asset Variable Conservative Growth Fund                                        | 811-21128         |
| Western Asset Managed Municipals Fund                                                         | 811-04254         |
| Franklin Colorado Tax-Free Income Fund                                                        | 811-04149         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 2 - Franklin DynaTech Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Franklin DynaTech Fund

- **b. Series identification number, if any:** S000006754

- **c. LEI:** 549300ZT4KNXE58HPQ47

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 5

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class A                 | C000018321                                | FKDNX                        |
|                           2 | Class R                 | C000068977                                | FDNRX                        |
|                           3 | Advisor Class           | C000066417                                | FDYZX                        |
|                           4 | Class R6                | C000128785                                | FDTRX                        |
|                           5 | Class C                 | C000018323                                | FDYNX                        |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [x] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** BNY Mellon

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Advisers, Inc.

- **ii. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $41,428,698.60

- **g. Provide the net income from securities lending activities:** $4,208,213.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))

- Rule 22d-1 (17 CFR 270.22d-1)

- Rule 6c-11 (17 CFR 270.6c-11)

- Rule 32a-4 (17 CFR 270.32a-4)

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 12d1-1 (17 CFR 270.12d1-1)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Franklin Advisers, Inc.

- **ii. SEC file number:** 801-26292

- **iii. CRD number:** 000104517

- **iv. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. SEC file number:** 084-01036

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

**Transfer Agents Record: 2**

- **i. Full name:** FIS Investor Services, LLC /TA

- **ii. SEC file number:** 084-06522

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** OH

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

- **b. Has a transfer agent been hired or terminated during the reporting period?** No

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** LSEG US FIN CORP.

- **ii. LEI, if any, or provide and describe other identifying number:** 2138007FV67QQ13CGJ43

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** Franklin Templeton Investor Services LLC

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Self - rule 17f-2 (17 CFR 270.17f-2)

**Custodians Record: 2**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** Franklin Templeton Services, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

**Administrators Record: 2**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** Franklin Templeton Financial Services Corp.

- **b. SEC file number:** 8-29504

- **c. CRD number:** 000013594

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 2**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 8-5889

- **c. CRD number:** 000000332

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 3**

- **a. Full name:** Franklin Templeton Investment Services, Inc.

- **b. SEC file number:** 8-43206

- **c. CRD number:** 000027884

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** Sanford C. Bernstein & Co., LLC

- **ii. SEC file number:** 8-52942

- **iii. CRD number:** 000104474

- **iv. LEI, if any:** 549300I7JYZHT7D5CO04

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $279,822.57

**Brokers Record: 2**

- **i. Full name of broker:** Instinet, LLC

- **ii. SEC file number:** 8-23669

- **iii. CRD number:** 000007897

- **iv. LEI, if any:** 549300MGMN3RKMU8FT57

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $272,009.86

**Brokers Record: 3**

- **i. Full name of broker:** ROBERT W. BAIRD & CO. INCORPORATED

- **ii. SEC file number:** 8-00497

- **iii. CRD number:** 000008158

- **iv. LEI, if any:** 549300772UJAHRD6LO53

- **v. State, if applicable:** WI

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $283,879.70

**Brokers Record: 4**

- **i. Full name of broker:** UBS Securities LLC

- **ii. SEC file number:** 8-22651

- **iii. CRD number:** 000007654

- **iv. LEI, if any:** T6FIZBDPKLYJKFCRVK44

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $254,966.56

**Brokers Record: 5**

- **i. Full name of broker:** Jefferies LLC

- **ii. SEC file number:** 8-15074

- **iii. CRD number:** 000002347

- **iv. LEI, if any:** 58PU97L1C0WSRCWADL48

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $170,132.86

**Brokers Record: 6**

- **i. Full name of broker:** Virtu Americas LLC

- **ii. SEC file number:** 8-68193

- **iii. CRD number:** 000149823

- **iv. LEI, if any:** 549300RA02N3BNSWBV74

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $180,795.23

**Brokers Record: 7**

- **i. Full name of broker:** Citigroup Global Markets Inc.

- **ii. SEC file number:** 8-08177

- **iii. CRD number:** 000007059

- **iv. LEI, if any:** MBNUM2BPBDO7JBLYG310

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $385,960.60

**Brokers Record: 8**

- **i. Full name of broker:** Morgan Stanley & Co. LLC

- **ii. SEC file number:** 8-15869

- **iii. CRD number:** 000008209

- **iv. LEI, if any:** 9R7GPTSO7KV3UQJZQ078

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $277,558.33

**Brokers Record: 9**

- **i. Full name of broker:** Barclays Capital, Inc.

- **ii. SEC file number:** 8-41342

- **iii. CRD number:** 000019714

- **iv. LEI, if any:** AC28XWWI3WIBK2824319

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $221,017.91

**Brokers Record: 10**

- **i. Full name of broker:** Merrill Lynch, Pierce, Fenner & Smith Inc.

- **ii. SEC file number:** 8-07221

- **iii. CRD number:** 000007691

- **iv. LEI, if any:** 8NAV47T0Y26Q87Y0QP81

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $210,930.45

**Aggregate Commission:** $4,366,155.77

**Item C.17.a. Principal transaction counterparties.**

| Name                                       | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| Citigroup Global Markets Inc.              | 8-08177           | 000007059    | MBNUM2BPBDO7JBLYG310 | NY      | US        | $20,564,636.00            |
| Barclays Capital, Inc.                     | 8-41342           | 000019714    | AC28XWWI3WIBK2824319 | NY      | US        | $16,643,200.00            |
| Jefferies LLC                              | 8-15074           | 000002347    | 58PU97L1C0WSRCWADL48 | NY      | US        | $15,557,929.00            |
| J.P. Morgan Securities LLC                 | 8-35008           | 000000079    | ZBUT11V806EZRVTWT807 | NY      | US        | $5,866,210,296.76         |
| BNP Paribas Securities Corp.               | 8-32682           | 000015794    | RCNB6OTYUAMMP879YW96 | NY      | US        | $22,281,675.00            |
| Goldman Sachs & Co. LLC                    | 8-00129           | 000000361    | FOR8UP27PHTHYVLBNG30 | NY      | US        | $34,507,200.00            |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | 8-07221           | 000007691    | 8NAV47T0Y26Q87Y0QP81 | NY      | US        | $8,660,600.00             |
| Morgan Stanley & Co. LLC                   | 8-15869           | 000008209    | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $29,844,114.00            |
| Fiduciary Trust Company International      | N/A               | N/A          | N1YKEWO2IYPRS4742F57 | CA      | US        | $4,785,568.85             |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $6,019,055,219.61

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $26,145,657,797.86

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,995,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 2 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 3 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 4 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 5 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 6 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 7 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 8 Name of institution:** DEUTSCHE BANK SECURITIES INC.

  - **Line Institutions Record: 9 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 10 Name of institution:** MORGAN STANLEY SENIOR FUNDING, INC.

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                                                  | SEC File number   |
|:---|:---|
| Putnam Focused Large Cap Value ETF                                                            | 811-23643         |
| Western Asset Ultra-Short Income Fund                                                         | 811-04254         |
| Putnam Convertible Securities Fund                                                            | 811-02280         |
| Franklin Strategic Income VIP Fund                                                            | 811-05583         |
| Putnam Focused International Equity Fund                                                      | 811-01403         |
| Franklin Small Cap Value VIP Fund                                                             | 811-05583         |
| ClearBridge Tactical Dividend Income Fund                                                     | 811-06444         |
| ClearBridge Mid Cap Fund                                                                      | 811-06444         |
| ClearBridge Variable Small Cap Growth Portfolio                                               | 811-21128         |
| Franklin LifeSmart 2030 Retirement Target Fund                                                | 811-07851         |
| Franklin Virginia Tax-Free Income Fund                                                        | 811-04149         |
| Putnam VT Sustainable Future Fund                                                             | 811-05346         |
| ClearBridge Large Cap Growth Fund                                                             | 811-06444         |
| ClearBridge Value Fund                                                                        | 811-22338         |
| Franklin Income VIP Fund                                                                      | 811-05583         |
| Templeton Sustainable Emerging Markets Bond Fund                                              | 811-04706         |
| Franklin Gold and Precious Metals Fund                                                        | 811-01700         |
| Western Asset Municipal High Income Fund                                                      | 811-04254         |
| Western Asset Short Duration Municipal Income Fund                                            | 811-04254         |
| Franklin LifeSmart 2060 Retirement Target Fund                                                | 811-07851         |
| Putnam PanAgora ESG International Equity ETF                                                  | 811-23643         |
| Western Asset SMASh Series C Fund                                                             | 811-06740         |
| Western Asset SMASh Series TF Fund                                                            | 811-06740         |
| Franklin Multi-Asset Moderate Growth Fund                                                     | 811-06444         |
| Franklin Global Allocation Fund                                                               | 811-07851         |
| Franklin Allocation VIP Fund (f/k/a Franklin Founding Funds Allocation VIP Fund)              | 811-05583         |
| Putnam BDC Income ETF                                                                         | 811-23643         |
| Franklin High Yield Corporate ETF                                                             | 811-23124         |
| Franklin Templeton SMACS:  Series I                                                           | 811-06243         |
| BrandywineGLOBAL - Corporate Credit Fund                                                      | 811-06444         |
| Franklin Conservative Allocation Fund                                                         | 811-07851         |
| Putnam VT George Putnam Balanced Fund                                                         | 811-05346         |
| Franklin U.S. Government Securities VIP Fund                                                  | 811-05583         |
| ClearBridge Variable Growth Portfolio                                                         | 811-21128         |
| Franklin Minnesota Tax-Free Income Fund                                                       | 811-04149         |
| Putnam High Yield Fund                                                                        | 811-04616         |
| Putnam VT High Yield Fund                                                                     | 811-05346         |
| ClearBridge Global Infrastructure Income Fund                                                 | 811-22338         |
| Franklin Connecticut Tax-Free Income Fund                                                     | 811-04149         |
| Putnam Core Equity Fund (f/k/a Putnam Multi-Cap Core Fund)                                    | 811-07513         |
| Franklin Maryland Tax-Free Income Fund                                                        | 811-04149         |
| Putnam Dynamic Asset Allocation Conservative Fund                                             | 811-07121         |
| Putnam VT Diversified Income Fund                                                             | 811-05346         |
| Putnam Floating Rate Income Fund                                                              | 811-07513         |
| ClearBridge International Growth Fund                                                         | 811-22338         |
| Franklin Rising Dividends VIP Fund                                                            | 811-05583         |
| Templeton Global Bond VIP Fund                                                                | 811-05583         |
| ClearBridge International Value Fund                                                          | 811-06444         |
| Franklin Large Cap Growth VIP Fund                                                            | 811-05583         |
| Franklin Mutual U.S. Mid Cap Value Fund                                                       | 811-05878         |
| Putnam ESG Ultra Short ETF                                                                    | 811-23643         |
| Putnam Emerging Markets Ex-China ETF                                                          | 811-23643         |
| Franklin Pennsylvania Tax-Free Income Fund                                                    | 811-04149         |
| BrandywineGLOBAL - Alternative Credit Fund                                                    | 811-22338         |
| Franklin Low Duration Total Return Fund                                                       | 811-04986         |
| Franklin S&P 500 Index Fund                                                                   | 811-06444         |
| Putnam New York Tax Exempt Income Fund                                                        | 811-03741         |
| Putnam ESG Core Bond ETF                                                                      | 811-23643         |
| Putnam VT Small Cap Growth Fund                                                               | 811-05346         |
| Western Asset Total Return ETF                                                                | 811-23096         |
| Franklin High Income Fund                                                                     | 811-01608         |
| Putnam Government Money Market Fund                                                           | 811-07237         |
| Franklin Federal Limited-Term Tax-Free Income Fund                                            | 811-04149         |
| Franklin New York Tax-Free Income Fund                                                        | 811-03479         |
| International Equity Series                                                                   | 811-06135         |
| Martin Currie Emerging Markets Fund                                                           | 811-22338         |
| Franklin Strategic Mortgage Portfolio                                                         | 811-07288         |
| Franklin Templeton Moderate Model Portfolio                                                   | 811-21128         |
| Western Asset New Jersey Municipals Fund                                                      | 811-04254         |
| Franklin Templeton Aggressive Model Portfolio                                                 | 811-21128         |
| ClearBridge Growth Fund                                                                       | 811-06444         |
| Templeton Foreign Fund                                                                        | 811-02781         |
| Franklin Alabama Tax-Free Income Fund                                                         | 811-04149         |
| Franklin Templeton Moderately Aggressive Model Portfolio                                      | 811-21128         |
| Putnam Dynamic Asset Allocation Growth Fund                                                   | 811-07121         |
| Franklin Moderate Allocation Fund                                                             | 811-07851         |
| ClearBridge Variable Appreciation Portfolio                                                   | 811-21128         |
| Putnam Mortgage Securities Fund                                                               | 811-03897         |
| Putnam VT Focused International Equity Fund                                                   | 811-05346         |
| Franklin Mutual Global Discovery Fund                                                         | 811-05387         |
| Putnam Sustainable Future ETF                                                                 | 811-23643         |
| Franklin California High Yield Municipal Fund                                                 | 811-06481         |
| Putnam Money Market Fund                                                                      | 811-02608         |
| ClearBridge Sustainability Leaders Fund                                                       | 811-06444         |
| Franklin Arizona Tax-Free Income Fund                                                         | 811-04149         |
| Templeton Global Total Return Fund                                                            | 811-04706         |
| Templeton Emerging Markets Small Cap Fund                                                     | 811-08226         |
| Franklin LifeSmart 2055 Retirement Target Fund                                                | 811-07851         |
| Western Asset Short Duration High Income Fund                                                 | 811-04254         |
| Franklin Ohio Tax-Free Income Fund                                                            | 811-04149         |
| Putnam Large Cap Value Fund                                                                   | 811-02742         |
| Franklin Mutual Shares VIP Fund                                                               | 811-05583         |
| Franklin Growth and Income VIP Fund                                                           | 811-05583         |
| Franklin LifeSmart 2045 Retirement Target Fund                                                | 811-07851         |
| Western Asset Variable Global High Yield Bond Portfolio                                       | 811-06310         |
| Franklin Multi-Asset Growth Fund                                                              | 811-06444         |
| Putnam Global Health Care Fund                                                                | 811-03386         |
| ClearBridge Small Cap Growth Fund                                                             | 811-06444         |
| Western Asset SMASh Series Core Plus Completion                                               | 811-06740         |
| Putnam VT International Value Fund                                                            | 811-05346         |
| Putnam VT International Equity Fund                                                           | 811-05346         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund                                             | 811-22338         |
| Franklin Biotechnology Discovery Fund                                                         | 811-06243         |
| Templeton World Fund                                                                          | 811-02781         |
| Putnam Global Technology Fund                                                                 | 811-07513         |
| Franklin Michigan Tax-Free Income Fund                                                        | 811-04149         |
| Western Asset Managed Municipals Fund                                                         | 811-04254         |
| Franklin VolSmart Allocation VIP Fund                                                         | 811-05583         |
| Putnam VT Mortgage Securities Fund                                                            | 811-05346         |
| Western Asset Mortgage Total Return Fund                                                      | 811-04254         |
| Putnam VT Research Fund                                                                       | 811-05346         |
| Western Asset SMASh Series Core Completion Fund                                               | 811-06740         |
| Franklin Templeton SMACS:  Series E                                                           | 811-06243         |
| Franklin Multi-Asset Defensive Growth Fund                                                    | 811-06444         |
| Putnam VT Global Health Care Fund                                                             | 811-05346         |
| Putnam VT Large Cap Growth Fund (f/k/a Putnam VT Growth Opportunities Fund)                   | 811-05346         |
| Templeton Developing Markets VIP Fund                                                         | 811-05583         |
| Putnam Focused Large Cap Growth ETF                                                           | 811-23643         |
| Franklin Real Estate Securities Fund                                                          | 811-08034         |
| Franklin Senior Loan ETF                                                                      | 811-23124         |
| Western Asset Intermediate Bond Fund                                                          | 811-06110         |
| BrandywineGLOBAL - Global Opportuniites Bond Fund                                             | 811-22338         |
| Putnam VT Large Cap Value Fund                                                                | 811-05346         |
| Putnam VT Small Cap Value Fund                                                                | 811-05346         |
| ClearBridge Variable Mid Cap Portfolio                                                        | 811-21128         |
| Western Asset Intermediate-Term Municipals Fund                                               | 811-04254         |
| Western Asset High Yield Fund                                                                 | 811-06110         |
| Putnam International Value Fund                                                               | 811-07513         |
| Western Asset Bond ETF                                                                        | 811-23124         |
| Putnam Core Bond Fund (f/k/a Putnam Fixed Income Absolute Return Fund)                        | 811-07513         |
| Franklin Templeton Moderately Conservative Model Portfolio                                    | 811-21128         |
| ClearBridge Variable Large Cap Value Portfolio                                                | 811-21128         |
| Western Asset New York Municipals Fund                                                        | 811-04254         |
| Franklin Multi-Asset Conservative Growth Fund                                                 | 811-06444         |
| Western Asset Intermediate Maturity California Municipals Fund                                | 811-04254         |
| Franklin Floating Rate Master Series                                                          | 811-09869         |
| Western Asset Core Plus Bond Fund                                                             | 811-06110         |
| Franklin Oregon Tax-Free Income Fund                                                          | 811-04149         |
| Templeton International Bond Fund                                                             | 811-04706         |
| Franklin Massachusetts Tax-Free Income Fund                                                   | 811-04149         |
| Putnam BioRevolution ETF                                                                      | 811-23643         |
| BrandywineGLOBAL - High Yield Fund                                                            | 811-06444         |
| Franklin Small-Mid Cap Growth Fund                                                            | 811-06243         |
| Franklin LifeSmart 2040 Retirement Target Fund                                                | 811-07851         |
| Franklin California Intermediate-Term Tax-Free Income Fund                                    | 811-04356         |
| Templeton Global Balanced Fund                                                                | 811-08226         |
| Franklin North Carolina Tax-Free Income Fund                                                  | 811-04149         |
| Putnam Ultra Short Duration Income Fund                                                       | 811-07513         |
| Franklin Mutual Shares Fund                                                                   | 811-05387         |
| ClearBridge Appreciation Fund                                                                 | 811-06444         |
| Franklin Total Return Fund                                                                    | 811-04986         |
| Franklin Colorado Tax-Free Income Fund                                                        | 811-04149         |
| Franklin High Yield Tax-Free Income Fund                                                      | 811-04149         |
| Western Asset Total Return Unconstrained Fund                                                 | 811-06110         |
| Franklin LifeSmart 2050 Retirement Target Fund                                                | 811-07851         |
| Franklin LifeSmart 2025 Retirement Target Fund                                                | 811-07851         |
| Western Asset Short Duration Income ETF                                                       | 811-23096         |
| Western Asset Core Plus VIT Portfolio                                                         | 811-06310         |
| Putnam ESG High Yield ETF                                                                     | 811-23643         |
| Putnam VT Income Fund                                                                         | 811-05346         |
| Franklin Small-Mid Cap Growth VIP Fund                                                        | 811-05583         |
| Franklin Mutual Small-Mid Cap Value Fund                                                      | 811-05878         |
| Franklin Templeton SMACS:  Series CH                                                          | 811-06243         |
| Franklin Multi-Asset Variable Conservative Growth Fund                                        | 811-21128         |
| Putnam International Capital Opportunities Fund                                               | 811-07237         |
| Putnam International Equity Fund                                                              | 811-06190         |
| ClearBridge Select Fund                                                                       | 811-06444         |
| Putnam Emerging Markets Equity Fund                                                           | 811-07513         |
| BrandywineGLOBAL - Flexible Bond Fund                                                         | 811-22338         |
| Franklin Mutual Beacon Fund                                                                   | 811-05387         |
| ClearBridge Variable Dividend Strategy Portfolio                                              | 811-21128         |
| Franklin Utilities Fund                                                                       | 811-00537         |
| Putnam Mortgage Opportunities Fund                                                            | 811-07513         |
| Franklin Georgia Tax-Free Income Fund                                                         | 811-04149         |
| Putnam Massachusetts Tax Exempt Income Fund                                                   | 811-04518         |
| Putnam VT Emerging Markets Equity Fund                                                        | 811-05346         |
| Franklin Core Plus Bond Fund                                                                  | 811-06243         |
| Franklin Federal Tax-Free Income Fund                                                         | 811-03395         |
| Putnam New Jersey Tax Exempt Income Fund                                                      | 811-05977         |
| Templeton Global Bond Fund                                                                    | 811-04706         |
| Franklin International Growth Fund                                                            | 811-10157         |
| Western Asset Corporate Bond Fund                                                             | 811-04254         |
| George Putnam Balanced Fund                                                                   | 811-00058         |
| Putnam Sustainable Leaders ETF                                                                | 811-23643         |
| Franklin Templeton SMACS:  Series EM                                                          | 811-08226         |
| Franklin California Tax-Free Income Fund                                                      | 811-02790         |
| Franklin DynaTech VIP Fund                                                                    | 811-05583         |
| Putnam Tax-Free High Yield Fund                                                               | 811-04345         |
| Putnam Dynamic Asset Allocation Equity Fund                                                   | 811-07513         |
| Putnam Diversified Income Trust                                                               | 811-05635         |
| Franklin Growth Opportunities Fund                                                            | 811-06243         |
| Putnam Multi-Asset Income Fund                                                                | 811-07121         |
| Putnam Short-Term Municipal Income Fund                                                       | 811-07513         |
| Putnam Income Fund                                                                            | 811-00653         |
| K2 Alternative Strategies Fund                                                                | 811-22641         |
| Putnam Strategic Intermediate Municipal Fund                                                  | 811-04345         |
| Franklin Global Equity Fund                                                                   | 811-06444         |
| Franklin Growth Allocation Fund                                                               | 811-07851         |
| Franklin U.S. Small Capitalization Equity Fund (fka QS U.S. Small Capitalization Equity Fund) | 811-22338         |
| Franklin Managed Income Fund                                                                  | 811-04986         |
| Putnam Pennsylvania Tax Exempt Income Fund                                                    | 811-05802         |
| Franklin Corefolio Allocation Fund                                                            | 811-07851         |
| Templeton Foreign VIP Fund                                                                    | 811-05583         |
| Franklin Small Cap Growth Fund                                                                | 811-06243         |
| Franklin Global Real Estate VIP Fund                                                          | 811-05583         |
| Western Asset Oregon Municipals Fund                                                          | 811-04254         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund                                       | 811-04149         |
| Franklin Long Duration Credit Fund                                                            | 811-04986         |
| Putnam Intermediate-Term Municipal Income Fund                                                | 811-07513         |
| Franklin LifeSmart Retirement Income Fund                                                     | 811-07851         |
| Putnam California Tax Exempt Income Fund                                                      | 811-03630         |
| ClearBridge Large Cap Value Fund                                                              | 811-06444         |
| Putnam Sustainable Leaders Fund                                                               | 811-06128         |
| Franklin U.S. Large Cap Equity Fund                                                           | 811-06444         |
| Putnam Ultra Short MAC Series                                                                 | 811-07513         |
| Western Asset Massachusetts Municipals Fund                                                   | 811-04254         |
| Foreign Smaller Companies Series                                                              | 811-06135         |
| Franklin New Jersey Tax-Free Income Fund                                                      | 811-04149         |
| Putnam Ohio Tax Exempt Income Fund                                                            | 811-04528         |
| Putnam Global Income Trust                                                                    | 811-04524         |
| Franklin Mutual Global Discovery VIP Fund                                                     | 811-05583         |
| Franklin LifeSmart 2020 Retirement Target Fund                                                | 811-07851         |
| ClearBridge Small Cap Fund                                                                    | 811-22338         |
| Western Asset Inflation Indexed Plus Bond Fund                                                | 811-06110         |
| Putnam Minnesota Tax Exempt Income Fund                                                       | 811-04527         |
| Franklin U.S. Government Securities Fund                                                      | 811-00537         |
| Western Asset Income Fund                                                                     | 811-04254         |
| Putnam VT Government Money Market Fund                                                        | 811-05346         |
| Franklin New York Intermediate-Term Tax-Free Income Fund                                      | 811-04787         |
| Franklin Natural Resources Fund                                                               | 811-06243         |
| Western Asset Intermediate Maturity New York Municipals Fund                                  | 811-04254         |
| Franklin Small Cap Value Fund                                                                 | 811-05878         |
| Franklin Multi-Asset Variable Growth Fund                                                     | 811-21128         |
| Western Asset Long Credit VIT                                                                 | 811-06310         |
| Franklin Louisiana Tax-Free Income Fund                                                       | 811-04149         |
| Putnam Focused Equity Fund                                                                    | 811-07513         |
| Franklin Missouri Tax-Free Income Fund                                                        | 811-04149         |
| Putnam VT Sustainable Leaders Fund                                                            | 811-05346         |
| Putnam Small Cap Growth Fund                                                                  | 811-07513         |
| Putnam VT Core Equity Fund (f/k/a Putnam VT Multi-Cap Core Fund)                              | 811-05346         |
| Franklin Income Fund                                                                          | 811-00537         |
| Templeton Growth VIP Fund                                                                     | 811-05583         |
| Franklin Convertible Securities Fund                                                          | 811-04986         |
| Putnam Dynamic Asset Allocation Balanced Fund                                                 | 811-07121         |
| Putnam Small Cap Value Fund                                                                   | 811-07237         |
| Franklin Emerging Market Debt Opportunities Fund                                              | 811-10157         |
| Templeton Developing Markets Trust                                                            | 811-06378         |
| Putnam Research Fund                                                                          | 811-07237         |
| Western Asset Pennsylvania Municipals Fund                                                    | 811-04254         |
| ClearBridge Dividend Strategy Fund                                                            | 811-06444         |
| Putnam VT Global Asset Allocation Fund                                                        | 811-05346         |
| ClearBridge Mid Cap Growth Fund                                                               | 811-06444         |
| Franklin Templeton Conservative Model Portfolio                                               | 811-21128         |
| Franklin Low Duration U.S. Government Securities Fund                                         | 811-04986         |
| Western Asset California Municipals Fund                                                      | 811-04254         |
| Franklin Equity Income Fund                                                                   | 811-04986         |
| Templeton Global Smaller Companies Fund                                                       | 811-03143         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund                                        | 811-22338         |
| Putnam Tax Exempt Income Fund                                                                 | 811-02675         |
| Franklin Rising Dividends Fund                                                                | 811-04894         |
| ClearBridge Variable Large Cap Growth Portfolio                                               | 811-21128         |
| Western Asset Core Bond Fund                                                                  | 811-06110         |
| Putnam Sustainable Future Fund                                                                | 811-07237         |
| Western Asset Short-Term Bond Fund                                                            | 811-04254         |
| Western Asset SMASh Series M Fund                                                             | 811-06740         |
| Putnam Large Cap Growth Fund (f/k/a Putnam Growth Opportunities Fund)                         | 811-07237         |
| Franklin Floating Rate Daily Access Fund                                                      | 811-04986         |
| Franklin Mutual Quest Fund                                                                    | 811-05387         |
| Franklin International Equity Fund (fka QS International Equity Fund)                         | 811-22338         |
| Franklin Mutual International Value Fund                                                      | 811-05387         |
| Franklin LifeSmart 2035 Retirement Target Fund                                                | 811-07851         |
| Putnam PanAgora ESG Emerging Markets Equity ETF                                               | 811-23643         |
| Templeton Growth Fund, Inc.                                                                   | 811-04892         |
| Franklin Growth Fund                                                                          | 811-00537         |
| Putnam Short Duration Bond Fund                                                               | 811-07513         |
| Franklin Templeton SMACS:  Series H                                                           | 811-06243         |
| Martin Currie SMASh Series EM Fund                                                            | 811-22338         |
| Franklin Multi-Asset Variable Moderate Growth Fund                                            | 811-21128         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 3 - Franklin U.S. Government Securities Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Franklin U.S. Government Securities Fund

- **b. Series identification number, if any:** S000006757

- **c. LEI:** 54930004V2YVWZM45R57

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 6

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class C                 | C000018337                                | FRUGX                        |
|                           2 | Class A1                | C000018335                                | FKUSX                        |
|                           3 | Advisor Class           | C000018338                                | FUSAX                        |
|                           4 | Class R                 | C000018339                                | FUSRX                        |
|                           5 | Class A                 | C000199720                                | FKFSX                        |
|                           6 | Class R6                | C000128788                                | FGORX                        |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [x] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** BNY Mellon

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Advisers, Inc.

- **ii. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $0.00

- **g. Provide the net income from securities lending activities:** $0.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 32a-4 (17 CFR 270.32a-4)

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 22d-1 (17 CFR 270.22d-1)

- Rule 12d1-1 (17 CFR 270.12d1-1)

- Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Franklin Advisers, Inc.

- **ii. SEC file number:** 801-26292

- **iii. CRD number:** 000104517

- **iv. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** FIS Investor Services, LLC /TA

- **ii. SEC file number:** 084-06522

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** OH

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

**Transfer Agents Record: 2**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. SEC file number:** 084-01036

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** No

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** Franklin Templeton Investor Services LLC

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Self - rule 17f-2 (17 CFR 270.17f-2)

**Custodians Record: 2**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

**Administrators Record: 2**

- **i. Full name:** Franklin Templeton Services, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** Franklin Templeton Financial Services Corp.

- **b. SEC file number:** 8-29504

- **c. CRD number:** 000013594

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 2**

- **a. Full name:** Franklin Templeton Investment Services, Inc.

- **b. SEC file number:** 8-43206

- **c. CRD number:** 000027884

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 3**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 8-5889

- **c. CRD number:** 000000332

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

No Brokers reported.

**Item C.17.a. Principal transaction counterparties.**

| Name                                  | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| Bank of Montreal                      | N/A               | N/A          | NQQ6HPCNCCU6TUTQYE16 |  |  | $101,843,532.87           |
| Nomura Securities International, Inc. | 8-15255           | 000004297    | OXTKY6Q8X53C9ILVV871 | NY      | US        | $89,561,436.67            |
| BofA Securities, Inc.                 | 8-69787           | 000283942    | 549300HN4UKV1E2R3U73 | NY      | US        | $166,907,462.77           |
| Barclays Capital, Inc.                | 8-41342           | 000019714    | AC28XWWI3WIBK2824319 | NY      | US        | $80,972,868.99            |
| Wells Fargo Securities, LLC           | 8-65876           | 000126292    | VYVVCKR63DVZZN70PB21 | NC      | US        | $56,084,397.31            |
| BMO Capital Markets Corp.             | 8-34344           | 000016686    | RUC0QBLBRPRCU4W1NE59 | NY      | US        | $161,382,157.35           |
| Citigroup Global Markets Inc.         | 8-08177           | 000007059    | MBNUM2BPBDO7JBLYG310 | NY      | US        | $265,821,544.11           |
| Goldman Sachs & Co. LLC               | 8-00129           | 000000361    | FOR8UP27PHTHYVLBNG30 | NY      | US        | $126,258,004.47           |
| J.P. Morgan Securities LLC            | 8-35008           | 000000079    | ZBUT11V806EZRVTWT807 | NY      | US        | $698,158,803.82           |
| Morgan Stanley & Co. LLC              | 8-15869           | 000008209    | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $162,345,602.06           |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $2,006,577,412.39

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** No

- **Item C.19.a - Fund's monthly average net assets:** $2,198,282,876.22

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,995,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 2 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 3 Name of institution:** MORGAN STANLEY SENIOR FUNDING, INC.

  - **Line Institutions Record: 4 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 5 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 6 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 7 Name of institution:** DEUTSCHE BANK SECURITIES INC.

  - **Line Institutions Record: 8 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 9 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 10 Name of institution:** JPMORGAN CHASE BANK, N.A.

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                                                  | SEC File number   |
|:---|:---|
| Templeton Developing Markets Trust                                                            | 811-06378         |
| Putnam VT Focused International Equity Fund                                                   | 811-05346         |
| Western Asset SMASh Series M Fund                                                             | 811-06740         |
| George Putnam Balanced Fund                                                                   | 811-00058         |
| Martin Currie SMASh Series EM Fund                                                            | 811-22338         |
| Franklin LifeSmart 2035 Retirement Target Fund                                                | 811-07851         |
| Western Asset SMASh Series Core Completion Fund                                               | 811-06740         |
| Putnam Global Health Care Fund                                                                | 811-03386         |
| ClearBridge Large Cap Value Fund                                                              | 811-06444         |
| Franklin Conservative Allocation Fund                                                         | 811-07851         |
| Templeton Global Smaller Companies Fund                                                       | 811-03143         |
| Franklin Corefolio Allocation Fund                                                            | 811-07851         |
| Franklin Managed Income Fund                                                                  | 811-04986         |
| Franklin Convertible Securities Fund                                                          | 811-04986         |
| Templeton World Fund                                                                          | 811-02781         |
| Franklin Real Estate Securities Fund                                                          | 811-08034         |
| Franklin LifeSmart 2055 Retirement Target Fund                                                | 811-07851         |
| Franklin Strategic Income VIP Fund                                                            | 811-05583         |
| Franklin Templeton SMACS:  Series H                                                           | 811-06243         |
| Putnam VT International Equity Fund                                                           | 811-05346         |
| Franklin Templeton Moderately Aggressive Model Portfolio                                      | 811-21128         |
| Franklin Growth Allocation Fund                                                               | 811-07851         |
| Franklin High Income Fund                                                                     | 811-01608         |
| Franklin Virginia Tax-Free Income Fund                                                        | 811-04149         |
| ClearBridge Variable Growth Portfolio                                                         | 811-21128         |
| Templeton International Bond Fund                                                             | 811-04706         |
| Franklin Missouri Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Utilities Fund                                                                       | 811-00537         |
| Western Asset Massachusetts Municipals Fund                                                   | 811-04254         |
| Putnam Mortgage Securities Fund                                                               | 811-03897         |
| Franklin Mutual Shares Fund                                                                   | 811-05387         |
| Templeton Global Balanced Fund                                                                | 811-08226         |
| Putnam VT International Value Fund                                                            | 811-05346         |
| Franklin New Jersey Tax-Free Income Fund                                                      | 811-04149         |
| Franklin Senior Loan ETF                                                                      | 811-23124         |
| Franklin S&P 500 Index Fund                                                                   | 811-06444         |
| Franklin Global Allocation Fund                                                               | 811-07851         |
| Putnam Focused Large Cap Value ETF                                                            | 811-23643         |
| Western Asset Intermediate Bond Fund                                                          | 811-06110         |
| Putnam Research Fund                                                                          | 811-07237         |
| Templeton Growth VIP Fund                                                                     | 811-05583         |
| Western Asset Bond ETF                                                                        | 811-23124         |
| International Equity Series                                                                   | 811-06135         |
| Franklin Arizona Tax-Free Income Fund                                                         | 811-04149         |
| ClearBridge Variable Appreciation Portfolio                                                   | 811-21128         |
| Franklin Templeton SMACS:  Series CH                                                          | 811-06243         |
| Franklin Mutual Shares VIP Fund                                                               | 811-05583         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund                                        | 811-22338         |
| ClearBridge Large Cap Growth Fund                                                             | 811-06444         |
| Franklin North Carolina Tax-Free Income Fund                                                  | 811-04149         |
| Franklin Mutual Beacon Fund                                                                   | 811-05387         |
| Putnam Ultra Short MAC Series                                                                 | 811-07513         |
| Franklin Federal Tax-Free Income Fund                                                         | 811-03395         |
| Putnam VT Income Fund                                                                         | 811-05346         |
| Putnam Short-Term Municipal Income Fund                                                       | 811-07513         |
| Putnam VT Emerging Markets Equity Fund                                                        | 811-05346         |
| Western Asset California Municipals Fund                                                      | 811-04254         |
| K2 Alternative Strategies Fund                                                                | 811-22641         |
| Franklin Rising Dividends VIP Fund                                                            | 811-05583         |
| Putnam Global Technology Fund                                                                 | 811-07513         |
| BrandywineGLOBAL - Alternative Credit Fund                                                    | 811-22338         |
| Putnam Diversified Income Trust                                                               | 811-05635         |
| Franklin Multi-Asset Moderate Growth Fund                                                     | 811-06444         |
| Franklin Small-Mid Cap Growth VIP Fund                                                        | 811-05583         |
| Western Asset SMASh Series Core Plus Completion                                               | 811-06740         |
| Western Asset Managed Municipals Fund                                                         | 811-04254         |
| Franklin Louisiana Tax-Free Income Fund                                                       | 811-04149         |
| Franklin Templeton Moderately Conservative Model Portfolio                                    | 811-21128         |
| Putnam Sustainable Future Fund                                                                | 811-07237         |
| Putnam Small Cap Growth Fund                                                                  | 811-07513         |
| Putnam Massachusetts Tax Exempt Income Fund                                                   | 811-04518         |
| Putnam Money Market Fund                                                                      | 811-02608         |
| Franklin Maryland Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Mutual International Value Fund                                                      | 811-05387         |
| Western Asset Short Duration Income ETF                                                       | 811-23096         |
| Franklin Long Duration Credit Fund                                                            | 811-04986         |
| Putnam Intermediate-Term Municipal Income Fund                                                | 811-07513         |
| Franklin Growth and Income VIP Fund                                                           | 811-05583         |
| Franklin U.S. Large Cap Equity Fund                                                           | 811-06444         |
| Franklin U.S. Small Capitalization Equity Fund (fka QS U.S. Small Capitalization Equity Fund) | 811-22338         |
| ClearBridge Growth Fund                                                                       | 811-06444         |
| ClearBridge International Value Fund                                                          | 811-06444         |
| Franklin Global Real Estate VIP Fund                                                          | 811-05583         |
| Putnam Ohio Tax Exempt Income Fund                                                            | 811-04528         |
| Western Asset Intermediate Maturity California Municipals Fund                                | 811-04254         |
| Franklin Small Cap Value Fund                                                                 | 811-05878         |
| ClearBridge Sustainability Leaders Fund                                                       | 811-06444         |
| ClearBridge Small Cap Growth Fund                                                             | 811-06444         |
| Franklin LifeSmart 2030 Retirement Target Fund                                                | 811-07851         |
| Franklin Multi-Asset Growth Fund                                                              | 811-06444         |
| ClearBridge Tactical Dividend Income Fund                                                     | 811-06444         |
| ClearBridge Value Fund                                                                        | 811-22338         |
| Franklin Income VIP Fund                                                                      | 811-05583         |
| Putnam Emerging Markets Equity Fund                                                           | 811-07513         |
| Franklin Templeton SMACS:  Series I                                                           | 811-06243         |
| Western Asset Municipal High Income Fund                                                      | 811-04254         |
| Franklin Mutual Global Discovery VIP Fund                                                     | 811-05583         |
| Putnam VT Diversified Income Fund                                                             | 811-05346         |
| ClearBridge Dividend Strategy Fund                                                            | 811-06444         |
| Franklin Large Cap Growth VIP Fund                                                            | 811-05583         |
| ClearBridge Appreciation Fund                                                                 | 811-06444         |
| Franklin Federal Limited-Term Tax-Free Income Fund                                            | 811-04149         |
| Putnam ESG High Yield ETF                                                                     | 811-23643         |
| Putnam Core Bond Fund (f/k/a Putnam Fixed Income Absolute Return Fund)                        | 811-07513         |
| Putnam Small Cap Value Fund                                                                   | 811-07237         |
| Putnam BDC Income ETF                                                                         | 811-23643         |
| Putnam VT Sustainable Leaders Fund                                                            | 811-05346         |
| Putnam VT Global Asset Allocation Fund                                                        | 811-05346         |
| Western Asset Total Return Unconstrained Fund                                                 | 811-06110         |
| Putnam VT Government Money Market Fund                                                        | 811-05346         |
| Franklin Small-Mid Cap Growth Fund                                                            | 811-06243         |
| Putnam PanAgora ESG Emerging Markets Equity ETF                                               | 811-23643         |
| Franklin California Intermediate-Term Tax-Free Income Fund                                    | 811-04356         |
| Putnam Focused Large Cap Growth ETF                                                           | 811-23643         |
| Putnam Multi-Asset Income Fund                                                                | 811-07121         |
| Putnam Pennsylvania Tax Exempt Income Fund                                                    | 811-05802         |
| Franklin Total Return Fund                                                                    | 811-04986         |
| Franklin DynaTech VIP Fund                                                                    | 811-05583         |
| Putnam Strategic Intermediate Municipal Fund                                                  | 811-04345         |
| Franklin High Yield Corporate ETF                                                             | 811-23124         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund                                       | 811-04149         |
| Putnam VT Sustainable Future Fund                                                             | 811-05346         |
| Putnam Focused Equity Fund                                                                    | 811-07513         |
| Franklin High Yield Tax-Free Income Fund                                                      | 811-04149         |
| Putnam VT High Yield Fund                                                                     | 811-05346         |
| Franklin International Equity Fund (fka QS International Equity Fund)                         | 811-22338         |
| Putnam Dynamic Asset Allocation Balanced Fund                                                 | 811-07121         |
| Franklin New York Tax-Free Income Fund                                                        | 811-03479         |
| Western Asset New Jersey Municipals Fund                                                      | 811-04254         |
| Franklin Mutual Global Discovery Fund                                                         | 811-05387         |
| Franklin Templeton SMACS:  Series EM                                                          | 811-08226         |
| Western Asset SMASh Series C Fund                                                             | 811-06740         |
| Franklin Gold and Precious Metals Fund                                                        | 811-01700         |
| Franklin Mutual U.S. Mid Cap Value Fund                                                       | 811-05878         |
| ClearBridge Variable Large Cap Growth Portfolio                                               | 811-21128         |
| ClearBridge Mid Cap Fund                                                                      | 811-06444         |
| Templeton Sustainable Emerging Markets Bond Fund                                              | 811-04706         |
| Western Asset Pennsylvania Municipals Fund                                                    | 811-04254         |
| Franklin Georgia Tax-Free Income Fund                                                         | 811-04149         |
| Western Asset Long Credit VIT                                                                 | 811-06310         |
| Putnam ESG Ultra Short ETF                                                                    | 811-23643         |
| Putnam High Yield Fund                                                                        | 811-04616         |
| Putnam Mortgage Opportunities Fund                                                            | 811-07513         |
| Franklin Templeton Conservative Model Portfolio                                               | 811-21128         |
| Western Asset Short Duration Municipal Income Fund                                            | 811-04254         |
| Western Asset SMASh Series TF Fund                                                            | 811-06740         |
| Putnam PanAgora ESG International Equity ETF                                                  | 811-23643         |
| Putnam VT Mortgage Securities Fund                                                            | 811-05346         |
| Franklin Multi-Asset Variable Moderate Growth Fund                                            | 811-21128         |
| ClearBridge Variable Dividend Strategy Portfolio                                              | 811-21128         |
| Putnam Short Duration Bond Fund                                                               | 811-07513         |
| ClearBridge Mid Cap Growth Fund                                                               | 811-06444         |
| Franklin Pennsylvania Tax-Free Income Fund                                                    | 811-04149         |
| Franklin LifeSmart 2040 Retirement Target Fund                                                | 811-07851         |
| Putnam Tax-Free High Yield Fund                                                               | 811-04345         |
| Franklin Moderate Allocation Fund                                                             | 811-07851         |
| Franklin Multi-Asset Variable Conservative Growth Fund                                        | 811-21128         |
| Western Asset Core Bond Fund                                                                  | 811-06110         |
| Franklin Massachusetts Tax-Free Income Fund                                                   | 811-04149         |
| Franklin California High Yield Municipal Fund                                                 | 811-06481         |
| Franklin DynaTech Fund                                                                        | 811-00537         |
| Putnam Large Cap Value Fund                                                                   | 811-02742         |
| Putnam Emerging Markets Ex-China ETF                                                          | 811-23643         |
| Franklin Strategic Mortgage Portfolio                                                         | 811-07288         |
| Putnam Government Money Market Fund                                                           | 811-07237         |
| Franklin International Growth Fund                                                            | 811-10157         |
| Franklin Growth Fund                                                                          | 811-00537         |
| BrandywineGLOBAL - High Yield Fund                                                            | 811-06444         |
| Franklin Colorado Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Multi-Asset Defensive Growth Fund                                                    | 811-06444         |
| Franklin Templeton Moderate Model Portfolio                                                   | 811-21128         |
| Templeton Developing Markets VIP Fund                                                         | 811-05583         |
| Franklin Multi-Asset Conservative Growth Fund                                                 | 811-06444         |
| Putnam Sustainable Leaders Fund                                                               | 811-06128         |
| Putnam Ultra Short Duration Income Fund                                                       | 811-07513         |
| ClearBridge Global Infrastructure Income Fund                                                 | 811-22338         |
| Putnam Floating Rate Income Fund                                                              | 811-07513         |
| Putnam Dynamic Asset Allocation Growth Fund                                                   | 811-07121         |
| Franklin LifeSmart 2050 Retirement Target Fund                                                | 811-07851         |
| Franklin Low Duration Total Return Fund                                                       | 811-04986         |
| Foreign Smaller Companies Series                                                              | 811-06135         |
| Franklin LifeSmart 2025 Retirement Target Fund                                                | 811-07851         |
| Franklin Floating Rate Daily Access Fund                                                      | 811-04986         |
| Western Asset Core Plus Bond Fund                                                             | 811-06110         |
| Franklin Growth Opportunities Fund                                                            | 811-06243         |
| Franklin Connecticut Tax-Free Income Fund                                                     | 811-04149         |
| Putnam Income Fund                                                                            | 811-00653         |
| Franklin Income Fund                                                                          | 811-00537         |
| Templeton Foreign VIP Fund                                                                    | 811-05583         |
| Putnam International Value Fund                                                               | 811-07513         |
| Putnam VT Large Cap Value Fund                                                                | 811-05346         |
| Franklin Equity Income Fund                                                                   | 811-04986         |
| Franklin California Tax-Free Income Fund                                                      | 811-02790         |
| Franklin Small Cap Growth Fund                                                                | 811-06243         |
| Putnam New Jersey Tax Exempt Income Fund                                                      | 811-05977         |
| ClearBridge Select Fund                                                                       | 811-06444         |
| Putnam California Tax Exempt Income Fund                                                      | 811-03630         |
| Western Asset Short Duration High Income Fund                                                 | 811-04254         |
| BrandywineGLOBAL - Global Opportuniites Bond Fund                                             | 811-22338         |
| Western Asset Core Plus VIT Portfolio                                                         | 811-06310         |
| Templeton Global Total Return Fund                                                            | 811-04706         |
| Western Asset Total Return ETF                                                                | 811-23096         |
| ClearBridge International Growth Fund                                                         | 811-22338         |
| Putnam Global Income Trust                                                                    | 811-04524         |
| Franklin Global Equity Fund                                                                   | 811-06444         |
| Putnam VT George Putnam Balanced Fund                                                         | 811-05346         |
| Western Asset Intermediate Maturity New York Municipals Fund                                  | 811-04254         |
| Putnam Large Cap Growth Fund (f/k/a Putnam Growth Opportunities Fund)                         | 811-07237         |
| Putnam Convertible Securities Fund                                                            | 811-02280         |
| BrandywineGLOBAL - Corporate Credit Fund                                                      | 811-06444         |
| Western Asset Mortgage Total Return Fund                                                      | 811-04254         |
| Putnam VT Small Cap Value Fund                                                                | 811-05346         |
| Putnam BioRevolution ETF                                                                      | 811-23643         |
| Franklin Biotechnology Discovery Fund                                                         | 811-06243         |
| Western Asset Variable Global High Yield Bond Portfolio                                       | 811-06310         |
| Franklin Minnesota Tax-Free Income Fund                                                       | 811-04149         |
| Franklin Natural Resources Fund                                                               | 811-06243         |
| Putnam Minnesota Tax Exempt Income Fund                                                       | 811-04527         |
| Franklin Templeton SMACS:  Series E                                                           | 811-06243         |
| Putnam VT Core Equity Fund (f/k/a Putnam VT Multi-Cap Core Fund)                              | 811-05346         |
| Templeton Foreign Fund                                                                        | 811-02781         |
| Putnam VT Global Health Care Fund                                                             | 811-05346         |
| Franklin U.S. Government Securities VIP Fund                                                  | 811-05583         |
| Templeton Global Bond Fund                                                                    | 811-04706         |
| Franklin Allocation VIP Fund (f/k/a Franklin Founding Funds Allocation VIP Fund)              | 811-05583         |
| Putnam Dynamic Asset Allocation Equity Fund                                                   | 811-07513         |
| Martin Currie Emerging Markets Fund                                                           | 811-22338         |
| ClearBridge Variable Large Cap Value Portfolio                                                | 811-21128         |
| Western Asset New York Municipals Fund                                                        | 811-04254         |
| Franklin LifeSmart 2060 Retirement Target Fund                                                | 811-07851         |
| Western Asset Oregon Municipals Fund                                                          | 811-04254         |
| Franklin Small Cap Value VIP Fund                                                             | 811-05583         |
| Putnam Core Equity Fund (f/k/a Putnam Multi-Cap Core Fund)                                    | 811-07513         |
| Franklin LifeSmart 2020 Retirement Target Fund                                                | 811-07851         |
| Western Asset Ultra-Short Income Fund                                                         | 811-04254         |
| Franklin Rising Dividends Fund                                                                | 811-04894         |
| Putnam Sustainable Future ETF                                                                 | 811-23643         |
| Franklin LifeSmart 2045 Retirement Target Fund                                                | 811-07851         |
| Western Asset Corporate Bond Fund                                                             | 811-04254         |
| Western Asset Inflation Indexed Plus Bond Fund                                                | 811-06110         |
| ClearBridge Small Cap Fund                                                                    | 811-22338         |
| Franklin Michigan Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Alabama Tax-Free Income Fund                                                         | 811-04149         |
| Putnam VT Research Fund                                                                       | 811-05346         |
| Franklin Low Duration U.S. Government Securities Fund                                         | 811-04986         |
| Templeton Global Bond VIP Fund                                                                | 811-05583         |
| Putnam Sustainable Leaders ETF                                                                | 811-23643         |
| Putnam New York Tax Exempt Income Fund                                                        | 811-03741         |
| Templeton Emerging Markets Small Cap Fund                                                     | 811-08226         |
| Putnam International Capital Opportunities Fund                                               | 811-07237         |
| Western Asset Intermediate-Term Municipals Fund                                               | 811-04254         |
| Putnam Tax Exempt Income Fund                                                                 | 811-02675         |
| Western Asset Income Fund                                                                     | 811-04254         |
| Franklin Emerging Market Debt Opportunities Fund                                              | 811-10157         |
| Franklin Multi-Asset Variable Growth Fund                                                     | 811-21128         |
| Putnam Dynamic Asset Allocation Conservative Fund                                             | 811-07121         |
| Putnam ESG Core Bond ETF                                                                      | 811-23643         |
| Franklin Ohio Tax-Free Income Fund                                                            | 811-04149         |
| Franklin Templeton Aggressive Model Portfolio                                                 | 811-21128         |
| ClearBridge Variable Small Cap Growth Portfolio                                               | 811-21128         |
| Western Asset High Yield Fund                                                                 | 811-06110         |
| Putnam VT Small Cap Growth Fund                                                               | 811-05346         |
| Franklin VolSmart Allocation VIP Fund                                                         | 811-05583         |
| Putnam International Equity Fund                                                              | 811-06190         |
| Templeton Growth Fund, Inc.                                                                   | 811-04892         |
| ClearBridge Variable Mid Cap Portfolio                                                        | 811-21128         |
| BrandywineGLOBAL - Flexible Bond Fund                                                         | 811-22338         |
| Franklin Mutual Small-Mid Cap Value Fund                                                      | 811-05878         |
| Franklin Floating Rate Master Series                                                          | 811-09869         |
| Putnam VT Large Cap Growth Fund (f/k/a Putnam VT Growth Opportunities Fund)                   | 811-05346         |
| Franklin Mutual Quest Fund                                                                    | 811-05387         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund                                             | 811-22338         |
| Franklin Oregon Tax-Free Income Fund                                                          | 811-04149         |
| Franklin LifeSmart Retirement Income Fund                                                     | 811-07851         |
| Putnam Focused International Equity Fund                                                      | 811-01403         |
| Franklin Core Plus Bond Fund                                                                  | 811-06243         |
| Franklin New York Intermediate-Term Tax-Free Income Fund                                      | 811-04787         |
| Western Asset Short-Term Bond Fund                                                            | 811-04254         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 4 - Franklin Growth Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Franklin Growth Fund

- **b. Series identification number, if any:** S000006755

- **c. LEI:** 549300HNBBCTK2YQED48

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 5

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class R                 | C000018328                                | FGSRX                        |
|                           2 | Class A                 | C000018324                                | FKGRX                        |
|                           3 | Class R6                | C000128786                                | FIFRX                        |
|                           4 | Class C                 | C000018326                                | FRGSX                        |
|                           5 | Advisor Class           | C000018327                                | FCGAX                        |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [x] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** BNY Mellon

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Advisers, Inc.

- **ii. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $2,766,497.11

- **g. Provide the net income from securities lending activities:** $20,122.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 6c-11 (17 CFR 270.6c-11)

- Rule 22d-1 (17 CFR 270.22d-1)

- Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 12d1-1 (17 CFR 270.12d1-1)

- Rule 32a-4 (17 CFR 270.32a-4)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Franklin Advisers, Inc.

- **ii. SEC file number:** 801-26292

- **iii. CRD number:** 000104517

- **iv. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** FIS Investor Services, LLC /TA

- **ii. SEC file number:** 084-06522

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** OH

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

**Transfer Agents Record: 2**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. SEC file number:** 084-01036

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** No

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** LSEG US FIN CORP.

- **ii. LEI, if any, or provide and describe other identifying number:** 2138007FV67QQ13CGJ43

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 2**

- **i. Full name:** Franklin Templeton Investor Services LLC

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Self - rule 17f-2 (17 CFR 270.17f-2)

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

**Administrators Record: 2**

- **i. Full name:** Franklin Templeton Services, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 8-5889

- **c. CRD number:** 000000332

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 2**

- **a. Full name:** Franklin Templeton Financial Services Corp.

- **b. SEC file number:** 8-29504

- **c. CRD number:** 000013594

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 3**

- **a. Full name:** Franklin Templeton Investment Services, Inc.

- **b. SEC file number:** 8-43206

- **c. CRD number:** 000027884

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** Instinet, LLC

- **ii. SEC file number:** 8-23669

- **iii. CRD number:** 000007897

- **iv. LEI, if any:** 549300MGMN3RKMU8FT57

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $49,335.87

**Brokers Record: 2**

- **i. Full name of broker:** Jefferies LLC

- **ii. SEC file number:** 8-15074

- **iii. CRD number:** 000002347

- **iv. LEI, if any:** 58PU97L1C0WSRCWADL48

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $75,334.32

**Brokers Record: 3**

- **i. Full name of broker:** JonesTrading Institutional Services LLC

- **ii. SEC file number:** 8-26089

- **iii. CRD number:** 000006888

- **iv. LEI, if any:** 2138008JJ5PA8H5UIL69

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $85,115.48

**Brokers Record: 4**

- **i. Full name of broker:** Goldman Sachs & Co. LLC

- **ii. SEC file number:** 8-00129

- **iii. CRD number:** 000000361

- **iv. LEI, if any:** FOR8UP27PHTHYVLBNG30

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $54,439.87

**Brokers Record: 5**

- **i. Full name of broker:** Morgan Stanley & Co. LLC

- **ii. SEC file number:** 8-15869

- **iii. CRD number:** 000008209

- **iv. LEI, if any:** 9R7GPTSO7KV3UQJZQ078

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $33,757.24

**Brokers Record: 6**

- **i. Full name of broker:** Merrill Lynch, Pierce, Fenner & Smith Inc.

- **ii. SEC file number:** 8-07221

- **iii. CRD number:** 000007691

- **iv. LEI, if any:** 8NAV47T0Y26Q87Y0QP81

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $61,666.54

**Brokers Record: 7**

- **i. Full name of broker:** Citigroup Global Markets Inc.

- **ii. SEC file number:** 8-08177

- **iii. CRD number:** 000007059

- **iv. LEI, if any:** MBNUM2BPBDO7JBLYG310

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $65,998.15

**Brokers Record: 8**

- **i. Full name of broker:** BTIG, LLC

- **ii. SEC file number:** 8-65473

- **iii. CRD number:** 000122225

- **iv. LEI, if any:** 549300GTG9PL6WO3EC51

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $41,708.00

**Brokers Record: 9**

- **i. Full name of broker:** Sanford C. Bernstein & Co., LLC

- **ii. SEC file number:** 8-52942

- **iii. CRD number:** 000104474

- **iv. LEI, if any:** 549300I7JYZHT7D5CO04

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $51,429.72

**Brokers Record: 10**

- **i. Full name of broker:** Rosenblatt Securities Inc.

- **ii. SEC file number:** 8-24255

- **iii. CRD number:** 000018377

- **iv. LEI, if any:** 549300KXQP6H4QO07E91

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $40,306.48

**Aggregate Commission:** $849,945.88

**Item C.17.a. Principal transaction counterparties.**

| Name                                  | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| J.P. Morgan Securities LLC            | 8-35008           | 000000079    | ZBUT11V806EZRVTWT807 | NY      | US        | $3,693,357,525.32         |
| Morgan Stanley & Co. LLC              | 8-15869           | 000008209    | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $1,745,139.00             |
| Fiduciary Trust Company International | N/A               | N/A          | N1YKEWO2IYPRS4742F57 | CA      | US        | $4,589,334.55             |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $3,699,691,998.87

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $17,906,362,729.48

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,995,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 2 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 3 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 4 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 5 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 6 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 7 Name of institution:** MORGAN STANLEY SENIOR FUNDING, INC.

  - **Line Institutions Record: 8 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 9 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 10 Name of institution:** DEUTSCHE BANK SECURITIES INC.

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                                                  | SEC File number   |
|:---|:---|
| Putnam Dynamic Asset Allocation Conservative Fund                                             | 811-07121         |
| Franklin DynaTech Fund                                                                        | 811-00537         |
| Putnam BDC Income ETF                                                                         | 811-23643         |
| Putnam ESG Core Bond ETF                                                                      | 811-23643         |
| Western Asset SMASh Series C Fund                                                             | 811-06740         |
| Franklin Templeton Moderately Aggressive Model Portfolio                                      | 811-21128         |
| Putnam Emerging Markets Ex-China ETF                                                          | 811-23643         |
| Putnam Income Fund                                                                            | 811-00653         |
| Western Asset High Yield Fund                                                                 | 811-06110         |
| Putnam International Capital Opportunities Fund                                               | 811-07237         |
| Franklin Massachusetts Tax-Free Income Fund                                                   | 811-04149         |
| Franklin S&P 500 Index Fund                                                                   | 811-06444         |
| Franklin Mutual Global Discovery Fund                                                         | 811-05387         |
| BrandywineGLOBAL - Flexible Bond Fund                                                         | 811-22338         |
| Franklin Arizona Tax-Free Income Fund                                                         | 811-04149         |
| Putnam Research Fund                                                                          | 811-07237         |
| BrandywineGLOBAL - High Yield Fund                                                            | 811-06444         |
| Putnam VT Small Cap Value Fund                                                                | 811-05346         |
| Franklin LifeSmart 2025 Retirement Target Fund                                                | 811-07851         |
| Franklin Multi-Asset Variable Conservative Growth Fund                                        | 811-21128         |
| Franklin LifeSmart 2035 Retirement Target Fund                                                | 811-07851         |
| Franklin Michigan Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Templeton SMACS:  Series EM                                                          | 811-08226         |
| Putnam Ultra Short MAC Series                                                                 | 811-07513         |
| Putnam VT Focused International Equity Fund                                                   | 811-05346         |
| Putnam VT Income Fund                                                                         | 811-05346         |
| International Equity Series                                                                   | 811-06135         |
| Putnam Global Health Care Fund                                                                | 811-03386         |
| Putnam VT Core Equity Fund (f/k/a Putnam VT Multi-Cap Core Fund)                              | 811-05346         |
| Franklin U.S. Large Cap Equity Fund                                                           | 811-06444         |
| Western Asset Intermediate Bond Fund                                                          | 811-06110         |
| ClearBridge Variable Small Cap Growth Portfolio                                               | 811-21128         |
| Templeton Growth VIP Fund                                                                     | 811-05583         |
| Putnam VT Mortgage Securities Fund                                                            | 811-05346         |
| ClearBridge Growth Fund                                                                       | 811-06444         |
| Putnam Small Cap Growth Fund                                                                  | 811-07513         |
| K2 Alternative Strategies Fund                                                                | 811-22641         |
| Franklin Connecticut Tax-Free Income Fund                                                     | 811-04149         |
| Franklin High Yield Tax-Free Income Fund                                                      | 811-04149         |
| Western Asset Short Duration Municipal Income Fund                                            | 811-04254         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund                                       | 811-04149         |
| Western Asset Variable Global High Yield Bond Portfolio                                       | 811-06310         |
| Putnam New Jersey Tax Exempt Income Fund                                                      | 811-05977         |
| Franklin Templeton Conservative Model Portfolio                                               | 811-21128         |
| George Putnam Balanced Fund                                                                   | 811-00058         |
| Putnam Mortgage Securities Fund                                                               | 811-03897         |
| Franklin International Growth Fund                                                            | 811-10157         |
| Franklin Total Return Fund                                                                    | 811-04986         |
| Putnam VT Diversified Income Fund                                                             | 811-05346         |
| Putnam Sustainable Leaders Fund                                                               | 811-06128         |
| Franklin Growth Allocation Fund                                                               | 811-07851         |
| ClearBridge Variable Large Cap Growth Portfolio                                               | 811-21128         |
| ClearBridge Large Cap Value Fund                                                              | 811-06444         |
| Franklin High Income Fund                                                                     | 811-01608         |
| Franklin Global Allocation Fund                                                               | 811-07851         |
| Franklin Strategic Mortgage Portfolio                                                         | 811-07288         |
| ClearBridge Mid Cap Growth Fund                                                               | 811-06444         |
| Putnam Dynamic Asset Allocation Balanced Fund                                                 | 811-07121         |
| Franklin California Tax-Free Income Fund                                                      | 811-02790         |
| Franklin Templeton SMACS:  Series H                                                           | 811-06243         |
| Putnam High Yield Fund                                                                        | 811-04616         |
| Franklin Louisiana Tax-Free Income Fund                                                       | 811-04149         |
| Western Asset Core Plus VIT Portfolio                                                         | 811-06310         |
| Putnam ESG Ultra Short ETF                                                                    | 811-23643         |
| Franklin Missouri Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Allocation VIP Fund (f/k/a Franklin Founding Funds Allocation VIP Fund)              | 811-05583         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund                                             | 811-22338         |
| Putnam VT Research Fund                                                                       | 811-05346         |
| Franklin Maryland Tax-Free Income Fund                                                        | 811-04149         |
| Templeton Sustainable Emerging Markets Bond Fund                                              | 811-04706         |
| Franklin LifeSmart 2060 Retirement Target Fund                                                | 811-07851         |
| BrandywineGLOBAL - Corporate Credit Fund                                                      | 811-06444         |
| Putnam Focused International Equity Fund                                                      | 811-01403         |
| Franklin Mutual Global Discovery VIP Fund                                                     | 811-05583         |
| Putnam Tax-Free High Yield Fund                                                               | 811-04345         |
| Putnam VT International Equity Fund                                                           | 811-05346         |
| Western Asset Inflation Indexed Plus Bond Fund                                                | 811-06110         |
| ClearBridge International Value Fund                                                          | 811-06444         |
| Templeton Foreign VIP Fund                                                                    | 811-05583         |
| Franklin Small Cap Value Fund                                                                 | 811-05878         |
| Franklin Conservative Allocation Fund                                                         | 811-07851         |
| Putnam VT Sustainable Future Fund                                                             | 811-05346         |
| Martin Currie Emerging Markets Fund                                                           | 811-22338         |
| Franklin Templeton SMACS:  Series I                                                           | 811-06243         |
| Western Asset Income Fund                                                                     | 811-04254         |
| Putnam Global Income Trust                                                                    | 811-04524         |
| ClearBridge International Growth Fund                                                         | 811-22338         |
| Putnam Small Cap Value Fund                                                                   | 811-07237         |
| Franklin Large Cap Growth VIP Fund                                                            | 811-05583         |
| ClearBridge Variable Large Cap Value Portfolio                                                | 811-21128         |
| Franklin New York Tax-Free Income Fund                                                        | 811-03479         |
| ClearBridge Global Infrastructure Income Fund                                                 | 811-22338         |
| Western Asset SMASh Series Core Plus Completion                                               | 811-06740         |
| Franklin Moderate Allocation Fund                                                             | 811-07851         |
| Templeton World Fund                                                                          | 811-02781         |
| Putnam Mortgage Opportunities Fund                                                            | 811-07513         |
| Franklin Rising Dividends VIP Fund                                                            | 811-05583         |
| Franklin Natural Resources Fund                                                               | 811-06243         |
| ClearBridge Variable Dividend Strategy Portfolio                                              | 811-21128         |
| Putnam Short Duration Bond Fund                                                               | 811-07513         |
| ClearBridge Tactical Dividend Income Fund                                                     | 811-06444         |
| Franklin Virginia Tax-Free Income Fund                                                        | 811-04149         |
| Templeton Developing Markets VIP Fund                                                         | 811-05583         |
| Templeton Growth Fund, Inc.                                                                   | 811-04892         |
| Franklin Corefolio Allocation Fund                                                            | 811-07851         |
| Franklin New York Intermediate-Term Tax-Free Income Fund                                      | 811-04787         |
| Franklin Rising Dividends Fund                                                                | 811-04894         |
| Franklin U.S. Small Capitalization Equity Fund (fka QS U.S. Small Capitalization Equity Fund) | 811-22338         |
| Putnam VT Global Asset Allocation Fund                                                        | 811-05346         |
| ClearBridge Appreciation Fund                                                                 | 811-06444         |
| Putnam VT Large Cap Value Fund                                                                | 811-05346         |
| Franklin Multi-Asset Moderate Growth Fund                                                     | 811-06444         |
| Franklin Growth and Income VIP Fund                                                           | 811-05583         |
| Franklin U.S. Government Securities VIP Fund                                                  | 811-05583         |
| Franklin Floating Rate Master Series                                                          | 811-09869         |
| Putnam VT International Value Fund                                                            | 811-05346         |
| Franklin Growth Opportunities Fund                                                            | 811-06243         |
| Western Asset Massachusetts Municipals Fund                                                   | 811-04254         |
| Western Asset Pennsylvania Municipals Fund                                                    | 811-04254         |
| Franklin Colorado Tax-Free Income Fund                                                        | 811-04149         |
| Western Asset Ultra-Short Income Fund                                                         | 811-04254         |
| Putnam New York Tax Exempt Income Fund                                                        | 811-03741         |
| Western Asset Long Credit VIT                                                                 | 811-06310         |
| Franklin DynaTech VIP Fund                                                                    | 811-05583         |
| Franklin Senior Loan ETF                                                                      | 811-23124         |
| Templeton Global Bond Fund                                                                    | 811-04706         |
| Franklin California Intermediate-Term Tax-Free Income Fund                                    | 811-04356         |
| Franklin Global Equity Fund                                                                   | 811-06444         |
| Putnam Multi-Asset Income Fund                                                                | 811-07121         |
| Franklin Emerging Market Debt Opportunities Fund                                              | 811-10157         |
| Western Asset Total Return ETF                                                                | 811-23096         |
| Putnam International Equity Fund                                                              | 811-06190         |
| Putnam Dynamic Asset Allocation Equity Fund                                                   | 811-07513         |
| Franklin Small-Mid Cap Growth Fund                                                            | 811-06243         |
| Western Asset New York Municipals Fund                                                        | 811-04254         |
| ClearBridge Mid Cap Fund                                                                      | 811-06444         |
| Franklin Multi-Asset Defensive Growth Fund                                                    | 811-06444         |
| Western Asset Bond ETF                                                                        | 811-23124         |
| Franklin Federal Limited-Term Tax-Free Income Fund                                            | 811-04149         |
| Franklin Templeton SMACS:  Series E                                                           | 811-06243         |
| Franklin Convertible Securities Fund                                                          | 811-04986         |
| Franklin U.S. Government Securities Fund                                                      | 811-00537         |
| Western Asset Mortgage Total Return Fund                                                      | 811-04254         |
| Franklin Pennsylvania Tax-Free Income Fund                                                    | 811-04149         |
| Putnam Ultra Short Duration Income Fund                                                       | 811-07513         |
| Putnam Minnesota Tax Exempt Income Fund                                                       | 811-04527         |
| Putnam International Value Fund                                                               | 811-07513         |
| Franklin Floating Rate Daily Access Fund                                                      | 811-04986         |
| Putnam ESG High Yield ETF                                                                     | 811-23643         |
| Putnam VT Large Cap Growth Fund (f/k/a Putnam VT Growth Opportunities Fund)                   | 811-05346         |
| Franklin Biotechnology Discovery Fund                                                         | 811-06243         |
| Franklin Minnesota Tax-Free Income Fund                                                       | 811-04149         |
| Western Asset Oregon Municipals Fund                                                          | 811-04254         |
| Putnam Large Cap Growth Fund (f/k/a Putnam Growth Opportunities Fund)                         | 811-07237         |
| Franklin Real Estate Securities Fund                                                          | 811-08034         |
| Western Asset Intermediate-Term Municipals Fund                                               | 811-04254         |
| ClearBridge Value Fund                                                                        | 811-22338         |
| Templeton Global Bond VIP Fund                                                                | 811-05583         |
| ClearBridge Small Cap Fund                                                                    | 811-22338         |
| Putnam VT Government Money Market Fund                                                        | 811-05346         |
| Putnam Sustainable Future Fund                                                                | 811-07237         |
| Templeton Emerging Markets Small Cap Fund                                                     | 811-08226         |
| Franklin Small Cap Value VIP Fund                                                             | 811-05583         |
| Franklin Ohio Tax-Free Income Fund                                                            | 811-04149         |
| Templeton Global Balanced Fund                                                                | 811-08226         |
| Putnam Tax Exempt Income Fund                                                                 | 811-02675         |
| Putnam Large Cap Value Fund                                                                   | 811-02742         |
| Franklin LifeSmart 2030 Retirement Target Fund                                                | 811-07851         |
| Putnam California Tax Exempt Income Fund                                                      | 811-03630         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund                                        | 811-22338         |
| Putnam VT Small Cap Growth Fund                                                               | 811-05346         |
| Putnam Core Bond Fund (f/k/a Putnam Fixed Income Absolute Return Fund)                        | 811-07513         |
| Franklin Global Real Estate VIP Fund                                                          | 811-05583         |
| Western Asset Intermediate Maturity New York Municipals Fund                                  | 811-04254         |
| Franklin Multi-Asset Variable Growth Fund                                                     | 811-21128         |
| Western Asset SMASh Series M Fund                                                             | 811-06740         |
| Franklin Templeton Moderate Model Portfolio                                                   | 811-21128         |
| Putnam Emerging Markets Equity Fund                                                           | 811-07513         |
| Western Asset Short Duration High Income Fund                                                 | 811-04254         |
| BrandywineGLOBAL - Alternative Credit Fund                                                    | 811-22338         |
| Putnam Short-Term Municipal Income Fund                                                       | 811-07513         |
| Franklin Georgia Tax-Free Income Fund                                                         | 811-04149         |
| Putnam VT Global Health Care Fund                                                             | 811-05346         |
| BrandywineGLOBAL - Global Opportuniites Bond Fund                                             | 811-22338         |
| Putnam Convertible Securities Fund                                                            | 811-02280         |
| Putnam Diversified Income Trust                                                               | 811-05635         |
| Franklin Mutual International Value Fund                                                      | 811-05387         |
| Franklin Mutual Beacon Fund                                                                   | 811-05387         |
| Franklin LifeSmart 2050 Retirement Target Fund                                                | 811-07851         |
| Putnam Core Equity Fund (f/k/a Putnam Multi-Cap Core Fund)                                    | 811-07513         |
| Franklin Core Plus Bond Fund                                                                  | 811-06243         |
| Franklin Multi-Asset Growth Fund                                                              | 811-06444         |
| Franklin New Jersey Tax-Free Income Fund                                                      | 811-04149         |
| Franklin North Carolina Tax-Free Income Fund                                                  | 811-04149         |
| Putnam Sustainable Leaders ETF                                                                | 811-23643         |
| Franklin Mutual Shares VIP Fund                                                               | 811-05583         |
| ClearBridge Dividend Strategy Fund                                                            | 811-06444         |
| Western Asset Short Duration Income ETF                                                       | 811-23096         |
| ClearBridge Variable Mid Cap Portfolio                                                        | 811-21128         |
| Franklin Utilities Fund                                                                       | 811-00537         |
| ClearBridge Variable Growth Portfolio                                                         | 811-21128         |
| Putnam Floating Rate Income Fund                                                              | 811-07513         |
| Franklin Multi-Asset Conservative Growth Fund                                                 | 811-06444         |
| Putnam PanAgora ESG International Equity ETF                                                  | 811-23643         |
| Franklin Equity Income Fund                                                                   | 811-04986         |
| Western Asset Intermediate Maturity California Municipals Fund                                | 811-04254         |
| Western Asset Corporate Bond Fund                                                             | 811-04254         |
| Franklin LifeSmart Retirement Income Fund                                                     | 811-07851         |
| Franklin LifeSmart 2040 Retirement Target Fund                                                | 811-07851         |
| Franklin Alabama Tax-Free Income Fund                                                         | 811-04149         |
| Western Asset Municipal High Income Fund                                                      | 811-04254         |
| Putnam Global Technology Fund                                                                 | 811-07513         |
| Putnam VT George Putnam Balanced Fund                                                         | 811-05346         |
| Putnam Pennsylvania Tax Exempt Income Fund                                                    | 811-05802         |
| Franklin Federal Tax-Free Income Fund                                                         | 811-03395         |
| Putnam Focused Large Cap Growth ETF                                                           | 811-23643         |
| Templeton Foreign Fund                                                                        | 811-02781         |
| Franklin Templeton Moderately Conservative Model Portfolio                                    | 811-21128         |
| Franklin Gold and Precious Metals Fund                                                        | 811-01700         |
| Western Asset Managed Municipals Fund                                                         | 811-04254         |
| Templeton Global Smaller Companies Fund                                                       | 811-03143         |
| ClearBridge Sustainability Leaders Fund                                                       | 811-06444         |
| ClearBridge Variable Appreciation Portfolio                                                   | 811-21128         |
| Franklin Income Fund                                                                          | 811-00537         |
| Franklin Low Duration U.S. Government Securities Fund                                         | 811-04986         |
| Western Asset Core Bond Fund                                                                  | 811-06110         |
| ClearBridge Large Cap Growth Fund                                                             | 811-06444         |
| Franklin Templeton SMACS:  Series CH                                                          | 811-06243         |
| Franklin Multi-Asset Variable Moderate Growth Fund                                            | 811-21128         |
| Franklin Strategic Income VIP Fund                                                            | 811-05583         |
| Franklin Income VIP Fund                                                                      | 811-05583         |
| Putnam Money Market Fund                                                                      | 811-02608         |
| Foreign Smaller Companies Series                                                              | 811-06135         |
| Franklin Templeton Aggressive Model Portfolio                                                 | 811-21128         |
| Franklin Low Duration Total Return Fund                                                       | 811-04986         |
| Franklin Mutual Quest Fund                                                                    | 811-05387         |
| Martin Currie SMASh Series EM Fund                                                            | 811-22338         |
| Franklin High Yield Corporate ETF                                                             | 811-23124         |
| Franklin International Equity Fund (fka QS International Equity Fund)                         | 811-22338         |
| Putnam BioRevolution ETF                                                                      | 811-23643         |
| Franklin LifeSmart 2055 Retirement Target Fund                                                | 811-07851         |
| ClearBridge Select Fund                                                                       | 811-06444         |
| Western Asset New Jersey Municipals Fund                                                      | 811-04254         |
| Franklin VolSmart Allocation VIP Fund                                                         | 811-05583         |
| Putnam VT Emerging Markets Equity Fund                                                        | 811-05346         |
| Western Asset Core Plus Bond Fund                                                             | 811-06110         |
| Putnam Sustainable Future ETF                                                                 | 811-23643         |
| Putnam Strategic Intermediate Municipal Fund                                                  | 811-04345         |
| Putnam Focused Equity Fund                                                                    | 811-07513         |
| Franklin Long Duration Credit Fund                                                            | 811-04986         |
| Templeton International Bond Fund                                                             | 811-04706         |
| Franklin Managed Income Fund                                                                  | 811-04986         |
| ClearBridge Small Cap Growth Fund                                                             | 811-06444         |
| Western Asset Total Return Unconstrained Fund                                                 | 811-06110         |
| Putnam VT Sustainable Leaders Fund                                                            | 811-05346         |
| Franklin Mutual Shares Fund                                                                   | 811-05387         |
| Putnam Intermediate-Term Municipal Income Fund                                                | 811-07513         |
| Franklin California High Yield Municipal Fund                                                 | 811-06481         |
| Putnam PanAgora ESG Emerging Markets Equity ETF                                               | 811-23643         |
| Putnam Government Money Market Fund                                                           | 811-07237         |
| Franklin Mutual Small-Mid Cap Value Fund                                                      | 811-05878         |
| Templeton Developing Markets Trust                                                            | 811-06378         |
| Franklin LifeSmart 2020 Retirement Target Fund                                                | 811-07851         |
| Franklin Mutual U.S. Mid Cap Value Fund                                                       | 811-05878         |
| Western Asset California Municipals Fund                                                      | 811-04254         |
| Putnam Massachusetts Tax Exempt Income Fund                                                   | 811-04518         |
| Putnam Focused Large Cap Value ETF                                                            | 811-23643         |
| Templeton Global Total Return Fund                                                            | 811-04706         |
| Western Asset SMASh Series TF Fund                                                            | 811-06740         |
| Western Asset Short-Term Bond Fund                                                            | 811-04254         |
| Franklin LifeSmart 2045 Retirement Target Fund                                                | 811-07851         |
| Franklin Small Cap Growth Fund                                                                | 811-06243         |
| Putnam VT High Yield Fund                                                                     | 811-05346         |
| Western Asset SMASh Series Core Completion Fund                                               | 811-06740         |
| Putnam Dynamic Asset Allocation Growth Fund                                                   | 811-07121         |
| Putnam Ohio Tax Exempt Income Fund                                                            | 811-04528         |
| Franklin Oregon Tax-Free Income Fund                                                          | 811-04149         |
| Franklin Small-Mid Cap Growth VIP Fund                                                        | 811-05583         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 5 - Franklin Income Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Franklin Income Fund

- **b. Series identification number, if any:** S000006756

- **c. LEI:** 2I64NSETYA60QJ4H0C97

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 6

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class C                 | C000018332                                | FCISX                        |
|                           2 | Class R                 | C000018334                                | FISRX                        |
|                           3 | Class A1                | C000018329                                | FKINX                        |
|                           4 | Class A                 | C000199719                                | FKIQX                        |
|                           5 | Class R6                | C000128787                                | FNCFX                        |
|                           6 | Advisor Class           | C000018333                                | FRIAX                        |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [x] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** BNY Mellon

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Advisers, Inc.

- **ii. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $69,549,942.40

- **g. Provide the net income from securities lending activities:** $987,327.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 32a-4 (17 CFR 270.32a-4)

- Rule 22d-1 (17 CFR 270.22d-1)

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 12d1-1 (17 CFR 270.12d1-1)

- Rule 18f-4(f)(17 CFR 270.18f-4(f))

- Rule 18f-4(e) (17 CFR 270.18f-4(e))

- Rule 6c-11 (17 CFR 270.6c-11)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Franklin Advisers, Inc.

- **ii. SEC file number:** 801-26292

- **iii. CRD number:** 000104517

- **iv. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** FIS Investor Services, LLC /TA

- **ii. SEC file number:** 084-06522

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** OH

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

**Transfer Agents Record: 2**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. SEC file number:** 084-01036

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** No

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** IHS Markit Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 3**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 4**

- **i. Full name:** LSEG US FIN CORP.

- **ii. LEI, if any, or provide and describe other identifying number:** 2138007FV67QQ13CGJ43

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 2**

- **i. Full name:** Franklin Templeton Investor Services LLC

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Self - rule 17f-2 (17 CFR 270.17f-2)

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

**Administrators Record: 2**

- **i. Full name:** Franklin Templeton Services, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** Franklin Templeton Financial Services Corp.

- **b. SEC file number:** 8-29504

- **c. CRD number:** 000013594

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 2**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 8-5889

- **c. CRD number:** 000000332

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 3**

- **a. Full name:** Franklin Templeton Investment Services, Inc.

- **b. SEC file number:** 8-43206

- **c. CRD number:** 000027884

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** Citigroup Global Markets Inc.

- **ii. SEC file number:** 8-08177

- **iii. CRD number:** 000007059

- **iv. LEI, if any:** MBNUM2BPBDO7JBLYG310

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,591,541.42

**Brokers Record: 2**

- **i. Full name of broker:** RBC Capital Markets, LLC

- **ii. SEC file number:** 8-45411

- **iii. CRD number:** 000031194

- **iv. LEI, if any:** 549300LCO2FLSSVFFR64

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $601,793.76

**Brokers Record: 3**

- **i. Full name of broker:** The Depository Trust Company

- **ii. SEC file number:** N/A

- **iii. CRD number:** N/A

- **iv. LEI, if any:** 549300HBJLRO8YFMI370

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,389,476.05

**Brokers Record: 4**

- **i. Full name of broker:** Wells Fargo Securities, LLC

- **ii. SEC file number:** 8-65876

- **iii. CRD number:** 000126292

- **iv. LEI, if any:** VYVVCKR63DVZZN70PB21

- **v. State, if applicable:** NC

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $747,550.00

**Brokers Record: 5**

- **i. Full name of broker:** Barclays Capital, Inc.

- **ii. SEC file number:** 8-41342

- **iii. CRD number:** 000019714

- **iv. LEI, if any:** AC28XWWI3WIBK2824319

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $545,424.90

**Brokers Record: 6**

- **i. Full name of broker:** Merrill Lynch, Pierce, Fenner & Smith Inc.

- **ii. SEC file number:** 8-07221

- **iii. CRD number:** 000007691

- **iv. LEI, if any:** 8NAV47T0Y26Q87Y0QP81

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,101,772.37

**Brokers Record: 7**

- **i. Full name of broker:** Jane Street Execution Services, LLC

- **ii. SEC file number:** 8-69254

- **iii. CRD number:** 000167280

- **iv. LEI, if any:** 549300HXJLXCPDWAH070

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $577,337.50

**Brokers Record: 8**

- **i. Full name of broker:** Nomura Securities International, Inc.

- **ii. SEC file number:** 8-15255

- **iii. CRD number:** 000004297

- **iv. LEI, if any:** OXTKY6Q8X53C9ILVV871

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,114,575.00

**Brokers Record: 9**

- **i. Full name of broker:** Morgan Stanley & Co. LLC

- **ii. SEC file number:** 8-15869

- **iii. CRD number:** 000008209

- **iv. LEI, if any:** 9R7GPTSO7KV3UQJZQ078

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,704,158.48

**Brokers Record: 10**

- **i. Full name of broker:** Rosenblatt Securities Inc.

- **ii. SEC file number:** 8-24255

- **iii. CRD number:** 000018377

- **iv. LEI, if any:** 549300KXQP6H4QO07E91

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $781,208.43

**Aggregate Commission:** $14,224,954.54

**Item C.17.a. Principal transaction counterparties.**

| Name                                  | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| Barclays Capital, Inc.                | 8-41342           | 000019714    | AC28XWWI3WIBK2824319 | NY      | US        | $10,797,917,963.45        |
| Citigroup Global Markets Inc.         | 8-08177           | 000007059    | MBNUM2BPBDO7JBLYG310 | NY      | US        | $7,626,166,855.38         |
| Nomura Securities International, Inc. | 8-15255           | 000004297    | OXTKY6Q8X53C9ILVV871 | NY      | US        | $4,257,358,009.60         |
| Wells Fargo Securities, LLC           | 8-65876           | 000126292    | VYVVCKR63DVZZN70PB21 | NC      | US        | $3,370,740,500.57         |
| BofA Securities, Inc.                 | 8-69787           | 000283942    | 549300HN4UKV1E2R3U73 | NY      | US        | $12,640,803,723.72        |
| J.P. Morgan Securities LLC            | 8-35008           | 000000079    | ZBUT11V806EZRVTWT807 | NY      | US        | $35,201,264,430.38        |
| Bank of Montreal                      | N/A               | N/A          | NQQ6HPCNCCU6TUTQYE16 |  |  | $5,784,857,187.09         |
| Citadel Securities LLC                | 8-53574           | 000116797    | 12UUJYTN7D3SW8KCSG25 | FL      | US        | $2,967,469,284.60         |
| Goldman Sachs & Co. LLC               | 8-00129           | 000000361    | FOR8UP27PHTHYVLBNG30 | NY      | US        | $5,665,785,121.62         |
| BNP Paribas Securities Corp.          | 8-32682           | 000015794    | RCNB6OTYUAMMP879YW96 | NY      | US        | $4,051,505,879.78         |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $112,504,089,833.11

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $73,873,493,565.31

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,995,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 2 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 3 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 4 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 5 Name of institution:** DEUTSCHE BANK SECURITIES INC.

  - **Line Institutions Record: 6 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 7 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 8 Name of institution:** MORGAN STANLEY SENIOR FUNDING, INC.

  - **Line Institutions Record: 9 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 10 Name of institution:** HSBC BANK USA, N.A.

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                                                  | SEC File number   |
|:---|:---|
| Franklin New York Tax-Free Income Fund                                                        | 811-03479         |
| ClearBridge International Growth Fund                                                         | 811-22338         |
| Western Asset SMASh Series Core Plus Completion                                               | 811-06740         |
| Franklin Mutual Beacon Fund                                                                   | 811-05387         |
| Putnam Sustainable Leaders Fund                                                               | 811-06128         |
| Franklin Connecticut Tax-Free Income Fund                                                     | 811-04149         |
| Putnam Money Market Fund                                                                      | 811-02608         |
| Putnam BioRevolution ETF                                                                      | 811-23643         |
| Putnam Ultra Short MAC Series                                                                 | 811-07513         |
| Putnam Short Duration Bond Fund                                                               | 811-07513         |
| Templeton Sustainable Emerging Markets Bond Fund                                              | 811-04706         |
| Franklin Alabama Tax-Free Income Fund                                                         | 811-04149         |
| Putnam Focused Large Cap Growth ETF                                                           | 811-23643         |
| Franklin VolSmart Allocation VIP Fund                                                         | 811-05583         |
| Franklin Real Estate Securities Fund                                                          | 811-08034         |
| Western Asset Intermediate Bond Fund                                                          | 811-06110         |
| ClearBridge Mid Cap Fund                                                                      | 811-06444         |
| Putnam Sustainable Future Fund                                                                | 811-07237         |
| Franklin LifeSmart 2025 Retirement Target Fund                                                | 811-07851         |
| Putnam Intermediate-Term Municipal Income Fund                                                | 811-07513         |
| Western Asset Massachusetts Municipals Fund                                                   | 811-04254         |
| Putnam Income Fund                                                                            | 811-00653         |
| Putnam VT Small Cap Value Fund                                                                | 811-05346         |
| Putnam Pennsylvania Tax Exempt Income Fund                                                    | 811-05802         |
| Franklin Mutual Global Discovery VIP Fund                                                     | 811-05583         |
| Martin Currie Emerging Markets Fund                                                           | 811-22338         |
| Western Asset Intermediate-Term Municipals Fund                                               | 811-04254         |
| Putnam VT Diversified Income Fund                                                             | 811-05346         |
| Putnam VT Sustainable Leaders Fund                                                            | 811-05346         |
| Putnam VT International Value Fund                                                            | 811-05346         |
| Franklin Moderate Allocation Fund                                                             | 811-07851         |
| Putnam High Yield Fund                                                                        | 811-04616         |
| Putnam California Tax Exempt Income Fund                                                      | 811-03630         |
| Franklin Total Return Fund                                                                    | 811-04986         |
| Putnam Global Income Trust                                                                    | 811-04524         |
| Western Asset Short Duration Income ETF                                                       | 811-23096         |
| Franklin Emerging Market Debt Opportunities Fund                                              | 811-10157         |
| Western Asset High Yield Fund                                                                 | 811-06110         |
| Franklin International Growth Fund                                                            | 811-10157         |
| Franklin Growth Allocation Fund                                                               | 811-07851         |
| Templeton Global Bond VIP Fund                                                                | 811-05583         |
| Franklin Corefolio Allocation Fund                                                            | 811-07851         |
| Franklin Ohio Tax-Free Income Fund                                                            | 811-04149         |
| Western Asset California Municipals Fund                                                      | 811-04254         |
| Templeton International Bond Fund                                                             | 811-04706         |
| Western Asset Managed Municipals Fund                                                         | 811-04254         |
| Franklin Equity Income Fund                                                                   | 811-04986         |
| Franklin Natural Resources Fund                                                               | 811-06243         |
| Templeton Developing Markets VIP Fund                                                         | 811-05583         |
| Franklin Templeton SMACS:  Series E                                                           | 811-06243         |
| ClearBridge Small Cap Fund                                                                    | 811-22338         |
| Franklin Minnesota Tax-Free Income Fund                                                       | 811-04149         |
| Franklin Floating Rate Daily Access Fund                                                      | 811-04986         |
| Franklin Global Allocation Fund                                                               | 811-07851         |
| Western Asset SMASh Series M Fund                                                             | 811-06740         |
| Putnam ESG Core Bond ETF                                                                      | 811-23643         |
| Franklin LifeSmart 2060 Retirement Target Fund                                                | 811-07851         |
| Putnam Focused Large Cap Value ETF                                                            | 811-23643         |
| Templeton Growth Fund, Inc.                                                                   | 811-04892         |
| Western Asset Variable Global High Yield Bond Portfolio                                       | 811-06310         |
| BrandywineGLOBAL - Global Opportuniites Bond Fund                                             | 811-22338         |
| Franklin Mutual Small-Mid Cap Value Fund                                                      | 811-05878         |
| Franklin High Yield Tax-Free Income Fund                                                      | 811-04149         |
| Putnam VT Global Asset Allocation Fund                                                        | 811-05346         |
| Franklin Global Real Estate VIP Fund                                                          | 811-05583         |
| Franklin Federal Limited-Term Tax-Free Income Fund                                            | 811-04149         |
| Putnam Short-Term Municipal Income Fund                                                       | 811-07513         |
| Franklin LifeSmart 2040 Retirement Target Fund                                                | 811-07851         |
| Franklin Multi-Asset Conservative Growth Fund                                                 | 811-06444         |
| Franklin Global Equity Fund                                                                   | 811-06444         |
| Putnam Dynamic Asset Allocation Growth Fund                                                   | 811-07121         |
| BrandywineGLOBAL - Flexible Bond Fund                                                         | 811-22338         |
| Western Asset Bond ETF                                                                        | 811-23124         |
| Franklin Small-Mid Cap Growth VIP Fund                                                        | 811-05583         |
| Putnam VT High Yield Fund                                                                     | 811-05346         |
| Franklin Small Cap Growth Fund                                                                | 811-06243         |
| Franklin LifeSmart 2050 Retirement Target Fund                                                | 811-07851         |
| ClearBridge Large Cap Growth Fund                                                             | 811-06444         |
| Franklin Templeton SMACS:  Series I                                                           | 811-06243         |
| Templeton Global Bond Fund                                                                    | 811-04706         |
| Putnam VT Large Cap Value Fund                                                                | 811-05346         |
| Franklin Low Duration U.S. Government Securities Fund                                         | 811-04986         |
| Putnam VT Emerging Markets Equity Fund                                                        | 811-05346         |
| Franklin Core Plus Bond Fund                                                                  | 811-06243         |
| ClearBridge International Value Fund                                                          | 811-06444         |
| Franklin New York Intermediate-Term Tax-Free Income Fund                                      | 811-04787         |
| Franklin Maryland Tax-Free Income Fund                                                        | 811-04149         |
| ClearBridge Sustainability Leaders Fund                                                       | 811-06444         |
| Western Asset Inflation Indexed Plus Bond Fund                                                | 811-06110         |
| Putnam Sustainable Leaders ETF                                                                | 811-23643         |
| Franklin Massachusetts Tax-Free Income Fund                                                   | 811-04149         |
| Putnam Convertible Securities Fund                                                            | 811-02280         |
| Franklin Mutual Shares Fund                                                                   | 811-05387         |
| Templeton Global Balanced Fund                                                                | 811-08226         |
| Putnam Dynamic Asset Allocation Balanced Fund                                                 | 811-07121         |
| Putnam VT Large Cap Growth Fund (f/k/a Putnam VT Growth Opportunities Fund)                   | 811-05346         |
| Franklin Income VIP Fund                                                                      | 811-05583         |
| Western Asset SMASh Series C Fund                                                             | 811-06740         |
| BrandywineGLOBAL - High Yield Fund                                                            | 811-06444         |
| Putnam PanAgora ESG International Equity ETF                                                  | 811-23643         |
| Western Asset Municipal High Income Fund                                                      | 811-04254         |
| Putnam Global Technology Fund                                                                 | 811-07513         |
| Western Asset Short Duration Municipal Income Fund                                            | 811-04254         |
| Templeton Growth VIP Fund                                                                     | 811-05583         |
| Franklin North Carolina Tax-Free Income Fund                                                  | 811-04149         |
| Franklin High Income Fund                                                                     | 811-01608         |
| ClearBridge Growth Fund                                                                       | 811-06444         |
| Putnam Small Cap Value Fund                                                                   | 811-07237         |
| Franklin Colorado Tax-Free Income Fund                                                        | 811-04149         |
| Putnam VT Income Fund                                                                         | 811-05346         |
| Franklin Convertible Securities Fund                                                          | 811-04986         |
| Putnam Massachusetts Tax Exempt Income Fund                                                   | 811-04518         |
| Franklin LifeSmart 2055 Retirement Target Fund                                                | 811-07851         |
| Putnam Emerging Markets Equity Fund                                                           | 811-07513         |
| ClearBridge Value Fund                                                                        | 811-22338         |
| Franklin Mutual International Value Fund                                                      | 811-05387         |
| Martin Currie SMASh Series EM Fund                                                            | 811-22338         |
| Putnam VT Small Cap Growth Fund                                                               | 811-05346         |
| Putnam Dynamic Asset Allocation Conservative Fund                                             | 811-07121         |
| Putnam VT Government Money Market Fund                                                        | 811-05346         |
| Western Asset New Jersey Municipals Fund                                                      | 811-04254         |
| Franklin U.S. Small Capitalization Equity Fund (fka QS U.S. Small Capitalization Equity Fund) | 811-22338         |
| Putnam New York Tax Exempt Income Fund                                                        | 811-03741         |
| ClearBridge Small Cap Growth Fund                                                             | 811-06444         |
| Franklin Floating Rate Master Series                                                          | 811-09869         |
| Franklin Templeton Moderately Conservative Model Portfolio                                    | 811-21128         |
| Franklin Mutual Global Discovery Fund                                                         | 811-05387         |
| Putnam Government Money Market Fund                                                           | 811-07237         |
| ClearBridge Tactical Dividend Income Fund                                                     | 811-06444         |
| Putnam Large Cap Value Fund                                                                   | 811-02742         |
| International Equity Series                                                                   | 811-06135         |
| ClearBridge Mid Cap Growth Fund                                                               | 811-06444         |
| Franklin DynaTech VIP Fund                                                                    | 811-05583         |
| George Putnam Balanced Fund                                                                   | 811-00058         |
| ClearBridge Variable Small Cap Growth Portfolio                                               | 811-21128         |
| Franklin New Jersey Tax-Free Income Fund                                                      | 811-04149         |
| Putnam International Capital Opportunities Fund                                               | 811-07237         |
| Western Asset SMASh Series Core Completion Fund                                               | 811-06740         |
| Putnam Small Cap Growth Fund                                                                  | 811-07513         |
| Western Asset Total Return ETF                                                                | 811-23096         |
| Franklin Multi-Asset Variable Growth Fund                                                     | 811-21128         |
| Putnam Strategic Intermediate Municipal Fund                                                  | 811-04345         |
| Franklin Multi-Asset Moderate Growth Fund                                                     | 811-06444         |
| BrandywineGLOBAL - Alternative Credit Fund                                                    | 811-22338         |
| Franklin Small Cap Value VIP Fund                                                             | 811-05583         |
| Franklin Oregon Tax-Free Income Fund                                                          | 811-04149         |
| Western Asset Ultra-Short Income Fund                                                         | 811-04254         |
| Franklin Senior Loan ETF                                                                      | 811-23124         |
| Franklin Strategic Income VIP Fund                                                            | 811-05583         |
| Franklin Multi-Asset Growth Fund                                                              | 811-06444         |
| Putnam VT Research Fund                                                                       | 811-05346         |
| Putnam International Value Fund                                                               | 811-07513         |
| Putnam Tax Exempt Income Fund                                                                 | 811-02675         |
| Putnam International Equity Fund                                                              | 811-06190         |
| Putnam Sustainable Future ETF                                                                 | 811-23643         |
| Western Asset Intermediate Maturity New York Municipals Fund                                  | 811-04254         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund                                        | 811-22338         |
| Putnam Dynamic Asset Allocation Equity Fund                                                   | 811-07513         |
| ClearBridge Large Cap Value Fund                                                              | 811-06444         |
| Western Asset SMASh Series TF Fund                                                            | 811-06740         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund                                             | 811-22338         |
| Western Asset Mortgage Total Return Fund                                                      | 811-04254         |
| Franklin Rising Dividends VIP Fund                                                            | 811-05583         |
| Putnam VT Focused International Equity Fund                                                   | 811-05346         |
| Putnam Mortgage Securities Fund                                                               | 811-03897         |
| Franklin LifeSmart 2035 Retirement Target Fund                                                | 811-07851         |
| Western Asset New York Municipals Fund                                                        | 811-04254         |
| Franklin Arizona Tax-Free Income Fund                                                         | 811-04149         |
| Templeton Foreign VIP Fund                                                                    | 811-05583         |
| Putnam Floating Rate Income Fund                                                              | 811-07513         |
| Franklin Growth Opportunities Fund                                                            | 811-06243         |
| Franklin Pennsylvania Tax-Free Income Fund                                                    | 811-04149         |
| Franklin Templeton Moderate Model Portfolio                                                   | 811-21128         |
| Franklin Rising Dividends Fund                                                                | 811-04894         |
| Franklin LifeSmart 2045 Retirement Target Fund                                                | 811-07851         |
| Franklin Small-Mid Cap Growth Fund                                                            | 811-06243         |
| Putnam VT Mortgage Securities Fund                                                            | 811-05346         |
| Franklin U.S. Government Securities Fund                                                      | 811-00537         |
| Franklin Small Cap Value Fund                                                                 | 811-05878         |
| Western Asset Income Fund                                                                     | 811-04254         |
| Franklin Multi-Asset Defensive Growth Fund                                                    | 811-06444         |
| Franklin LifeSmart Retirement Income Fund                                                     | 811-07851         |
| Franklin California Intermediate-Term Tax-Free Income Fund                                    | 811-04356         |
| Western Asset Short Duration High Income Fund                                                 | 811-04254         |
| Putnam Large Cap Growth Fund (f/k/a Putnam Growth Opportunities Fund)                         | 811-07237         |
| Franklin Templeton Moderately Aggressive Model Portfolio                                      | 811-21128         |
| Franklin Templeton SMACS:  Series EM                                                          | 811-08226         |
| Templeton Emerging Markets Small Cap Fund                                                     | 811-08226         |
| Franklin Louisiana Tax-Free Income Fund                                                       | 811-04149         |
| Franklin Mutual U.S. Mid Cap Value Fund                                                       | 811-05878         |
| Franklin Long Duration Credit Fund                                                            | 811-04986         |
| Putnam VT International Equity Fund                                                           | 811-05346         |
| Franklin Multi-Asset Variable Moderate Growth Fund                                            | 811-21128         |
| Franklin Templeton SMACS:  Series H                                                           | 811-06243         |
| Putnam Core Equity Fund (f/k/a Putnam Multi-Cap Core Fund)                                    | 811-07513         |
| Foreign Smaller Companies Series                                                              | 811-06135         |
| Putnam Focused International Equity Fund                                                      | 811-01403         |
| Putnam ESG Ultra Short ETF                                                                    | 811-23643         |
| Putnam VT Global Health Care Fund                                                             | 811-05346         |
| Franklin Utilities Fund                                                                       | 811-00537         |
| Putnam PanAgora ESG Emerging Markets Equity ETF                                               | 811-23643         |
| Templeton Foreign Fund                                                                        | 811-02781         |
| Franklin Virginia Tax-Free Income Fund                                                        | 811-04149         |
| Putnam Minnesota Tax Exempt Income Fund                                                       | 811-04527         |
| Franklin California High Yield Municipal Fund                                                 | 811-06481         |
| Putnam Focused Equity Fund                                                                    | 811-07513         |
| ClearBridge Variable Appreciation Portfolio                                                   | 811-21128         |
| Putnam Multi-Asset Income Fund                                                                | 811-07121         |
| Franklin U.S. Large Cap Equity Fund                                                           | 811-06444         |
| Western Asset Total Return Unconstrained Fund                                                 | 811-06110         |
| Putnam New Jersey Tax Exempt Income Fund                                                      | 811-05977         |
| Franklin High Yield Corporate ETF                                                             | 811-23124         |
| Franklin Templeton SMACS:  Series CH                                                          | 811-06243         |
| Western Asset Core Bond Fund                                                                  | 811-06110         |
| Western Asset Pennsylvania Municipals Fund                                                    | 811-04254         |
| Franklin Strategic Mortgage Portfolio                                                         | 811-07288         |
| Templeton Developing Markets Trust                                                            | 811-06378         |
| Franklin Allocation VIP Fund (f/k/a Franklin Founding Funds Allocation VIP Fund)              | 811-05583         |
| Western Asset Oregon Municipals Fund                                                          | 811-04254         |
| ClearBridge Variable Growth Portfolio                                                         | 811-21128         |
| Franklin International Equity Fund (fka QS International Equity Fund)                         | 811-22338         |
| Franklin Biotechnology Discovery Fund                                                         | 811-06243         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund                                       | 811-04149         |
| Putnam Mortgage Opportunities Fund                                                            | 811-07513         |
| Putnam VT George Putnam Balanced Fund                                                         | 811-05346         |
| Franklin Templeton Aggressive Model Portfolio                                                 | 811-21128         |
| Franklin Missouri Tax-Free Income Fund                                                        | 811-04149         |
| Putnam Emerging Markets Ex-China ETF                                                          | 811-23643         |
| Western Asset Intermediate Maturity California Municipals Fund                                | 811-04254         |
| Franklin Mutual Quest Fund                                                                    | 811-05387         |
| Franklin Conservative Allocation Fund                                                         | 811-07851         |
| Franklin Georgia Tax-Free Income Fund                                                         | 811-04149         |
| Templeton Global Total Return Fund                                                            | 811-04706         |
| Putnam Core Bond Fund (f/k/a Putnam Fixed Income Absolute Return Fund)                        | 811-07513         |
| Franklin California Tax-Free Income Fund                                                      | 811-02790         |
| ClearBridge Select Fund                                                                       | 811-06444         |
| Putnam Ohio Tax Exempt Income Fund                                                            | 811-04528         |
| Franklin Low Duration Total Return Fund                                                       | 811-04986         |
| Putnam Diversified Income Trust                                                               | 811-05635         |
| ClearBridge Dividend Strategy Fund                                                            | 811-06444         |
| BrandywineGLOBAL - Corporate Credit Fund                                                      | 811-06444         |
| Western Asset Short-Term Bond Fund                                                            | 811-04254         |
| Putnam Global Health Care Fund                                                                | 811-03386         |
| Franklin Multi-Asset Variable Conservative Growth Fund                                        | 811-21128         |
| Franklin S&P 500 Index Fund                                                                   | 811-06444         |
| Putnam Tax-Free High Yield Fund                                                               | 811-04345         |
| Putnam Ultra Short Duration Income Fund                                                       | 811-07513         |
| ClearBridge Global Infrastructure Income Fund                                                 | 811-22338         |
| Templeton World Fund                                                                          | 811-02781         |
| Franklin Growth and Income VIP Fund                                                           | 811-05583         |
| Templeton Global Smaller Companies Fund                                                       | 811-03143         |
| ClearBridge Variable Mid Cap Portfolio                                                        | 811-21128         |
| Franklin Gold and Precious Metals Fund                                                        | 811-01700         |
| Franklin Large Cap Growth VIP Fund                                                            | 811-05583         |
| Putnam VT Core Equity Fund (f/k/a Putnam VT Multi-Cap Core Fund)                              | 811-05346         |
| Putnam Research Fund                                                                          | 811-07237         |
| Putnam ESG High Yield ETF                                                                     | 811-23643         |
| Franklin Growth Fund                                                                          | 811-00537         |
| ClearBridge Variable Large Cap Growth Portfolio                                               | 811-21128         |
| K2 Alternative Strategies Fund                                                                | 811-22641         |
| Franklin Mutual Shares VIP Fund                                                               | 811-05583         |
| Franklin LifeSmart 2030 Retirement Target Fund                                                | 811-07851         |
| Franklin LifeSmart 2020 Retirement Target Fund                                                | 811-07851         |
| Franklin Federal Tax-Free Income Fund                                                         | 811-03395         |
| ClearBridge Variable Large Cap Value Portfolio                                                | 811-21128         |
| Franklin Managed Income Fund                                                                  | 811-04986         |
| Franklin DynaTech Fund                                                                        | 811-00537         |
| Putnam BDC Income ETF                                                                         | 811-23643         |
| Western Asset Core Plus VIT Portfolio                                                         | 811-06310         |
| Franklin Templeton Conservative Model Portfolio                                               | 811-21128         |
| Western Asset Long Credit VIT                                                                 | 811-06310         |
| Western Asset Corporate Bond Fund                                                             | 811-04254         |
| Putnam VT Sustainable Future Fund                                                             | 811-05346         |
| Franklin U.S. Government Securities VIP Fund                                                  | 811-05583         |
| ClearBridge Appreciation Fund                                                                 | 811-06444         |
| ClearBridge Variable Dividend Strategy Portfolio                                              | 811-21128         |
| Franklin Michigan Tax-Free Income Fund                                                        | 811-04149         |
| Western Asset Core Plus Bond Fund                                                             | 811-06110         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

## N-CEN: Part G: Attachments

**Item G.1a. Attachments.**

Attachments applicable to all Registrants. All Registrants shall file the following attachments, as applicable, with the current report. Indicate the attachments filed with the current report by checking the applicable items below:

- [ ] i. Legal proceedings

- [ ] ii. Provision of financial support

- [x] iii. Independent public accountant's report on internal control (management investment companies other than small business investment companies only)

- [ ] iv. Change in accounting principles and practices

- [ ] v. Information required to be filed pursuant to exemptive orders

- [ ] vi. Other information required to be included as an attachment pursuant to Commission rules and regulations

## N-CEN: Signature

Pursuant to the requirements of the Investment Company Act of 1940, the Registrant has duly caused this report to a be signed on its behalf by the undersigned hereunto duly authorized.

**Registrant:** FRANKLIN CUSTODIAN FUNDS

**Date:** 2025-09-30

**Signature:** Monica Krogh

**Title:** Assistant Treasurer