# EDGAR Filing Document

**Accession Number:** 0000757010
**File Stem:** 0002071691-26-009432
**Filing Date:** 2026-5
**Character Count:** 745894
**Document Hash:** eb75b8a65c41e124351f92bb14d5550f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-26-009432.hdr.sgml**: 20260511

**ACCESSION NUMBER**: 0002071691-26-009432

**CONFORMED SUBMISSION TYPE**: N-CEN

**PUBLIC DOCUMENT COUNT**: 5

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260511

**DATE AS OF CHANGE**: 20260511

**EFFECTIVENESS DATE**: 20260511

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FRANKLIN TAX FREE TRUST
- **CENTRAL INDEX KEY:** 0000757010

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 0228

**FILING VALUES:**
- **FORM TYPE:** N-CEN
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04149
- **FILM NUMBER:** 26962136

**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

## Series and Classes Contracts Data

### FRANKLIN ALABAMA TAX-FREE INCOME FUND (Series ID: S000006911)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018753 | CLASS A1      | FRALX           |
| C000018754 | CLASS C       | FALEX           |
| C000173665 | Advisor Class | FALZX           |
| C000194353 | Class R6      | FALRX           |
| C000205892 | Class A       | FALQX           |

### FRANKLIN GEORGIA TAX-FREE INCOME FUND (Series ID: S000006912)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018755 | CLASS A1      | FTGAX           |
| C000018756 | CLASS C       | FGAIX           |
| C000173666 | Advisor Class | FGFZX           |
| C000194354 | Class R6      | FGFQX           |
| C000205893 | Class A       | FGAQX           |

### FRANKLIN HIGH YIELD TAX-FREE INCOME FUND (Series ID: S000006913)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018757 | ADVISOR CLASS | FHYVX           |
| C000018758 | CLASS A1      | FRHIX           |
| C000018760 | CLASS C       | FHYIX           |
| C000194355 | Class R6      | FHYRX           |
| C000199703 | Class A       | FHYQX           |

### FRANKLIN LOUISIANA TAX-FREE INCOME FUND (Series ID: S000006916)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018765 | CLASS A1      | FKLAX           |
| C000018766 | CLASS C       | FLAIX           |
| C000173668 | Advisor Class | FLTZX           |
| C000194357 | Class R6      | FLAQX           |
| C000205895 | Class A       | FQLAX           |

### FRANKLIN MARYLAND TAX-FREE INCOME FUND (Series ID: S000006917)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018767 | CLASS A1      | FMDTX           |
| C000018768 | CLASS C       | FMDIX           |
| C000079635 | ADVISOR CLASS | FMDZX           |
| C000194358 | Class R6      | FMDQX           |
| C000205896 | Class A       | FQMDX           |

### FRANKLIN MASSACHUSETTS TAX-FREE INCOME FUND (Series ID: S000006918)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018769 | CLASS A1      | FMISX           |
| C000018770 | CLASS C       | FMAIX           |
| C000079636 | ADVISOR CLASS | FMAHX           |
| C000194359 | Class R6      | FKTMX           |
| C000205897 | Class A       | FMAQX           |

### FRANKLIN MICHIGAN TAX-FREE INCOME FUND (Series ID: S000006919)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018771 | CLASS A1      | FTTMX           |
| C000018773 | CLASS C       | FRMTX           |
| C000068549 | ADVISOR CLASS | FMTFX           |
| C000194360 | Class R6      | FKTNX           |
| C000205898 | Class A       | FMQTX           |

### FRANKLIN MINNESOTA TAX-FREE INCOME FUND (Series ID: S000006920)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018774 | CLASS A1      | FMINX           |
| C000018775 | CLASS C       | FMNIX           |
| C000079637 | ADVISOR CLASS | FMNZX           |
| C000194361 | Class R6      | FKTDX           |
| C000205899 | Class A       | FMNQX           |

### FRANKLIN MISSOURI TAX-FREE INCOME FUND (Series ID: S000006921)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018776 | CLASS A1      | FRMOX           |
| C000018777 | CLASS C       | FMOIX           |
| C000079638 | ADVISOR CLASS | FRMZX           |
| C000194362 | Class R6      | FMOQX           |
| C000205900 | Class A       | FMQOX           |

### FRANKLIN ARIZONA TAX-FREE INCOME FUND (Series ID: S000006922)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018778 | CLASS A1      | FTAZX           |
| C000018780 | CLASS C       | FAZIX           |
| C000068550 | ADVISOR CLASS | FAZZX           |
| C000194363 | Class R6      | FAZRX           |
| C000205901 | Class A       | FAZQX           |

### FRANKLIN NEW JERSEY TAX-FREE INCOME FUND (Series ID: S000006923)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018781 | CLASS A1      | FRNJX           |
| C000018783 | CLASS C       | FNIIX           |
| C000068551 | ADVISOR CLASS | FNJZX           |
| C000194364 | Class R6      | FNJRX           |
| C000205902 | Class A       | FNJQX           |

### FRANKLIN NORTH CAROLINA TAX-FREE INCOME FUND (Series ID: S000006924)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018784 | CLASS A1      | FXNCX           |
| C000018785 | CLASS C       | FNCIX           |
| C000079639 | ADVISOR CLASS | FNCZX           |
| C000194365 | Class R6      | FNCQX           |
| C000205903 | Class A       | FQNCX           |

### FRANKLIN OHIO TAX-FREE INCOME FUND (Series ID: S000006925)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018786 | CLASS A1      | FTOIX           |
| C000018788 | CLASS C       | FOITX           |
| C000068552 | ADVISOR CLASS | FROZX           |
| C000194366 | Class R6      | FKTOX           |
| C000205904 | Class A       | FOHQX           |

### FRANKLIN OREGON TAX-FREE INCOME FUND (Series ID: S000006926)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018789 | CLASS A1      | FRORX           |
| C000018790 | CLASS C       | FORIX           |
| C000079640 | ADVISOR CLASS | FOFZX           |
| C000194367 | Class R6      | FOFRX           |
| C000205905 | Class A       | FOFQX           |

### FRANKLIN PENNSYLVANIA TAX-FREE INCOME FUND (Series ID: S000006927)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018791 | CLASS A1      | FRPAX           |
| C000018793 | CLASS C       | FRPTX           |
| C000079641 | ADVISOR CLASS | FPFZX           |
| C000194368 | Class R6      | FRPRX           |
| C000205906 | Class A       | FPAQX           |

### FRANKLIN VIRGINIA TAX-FREE INCOME FUND (Series ID: S000006928)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018794 | CLASS A1      | FRVAX           |
| C000018795 | CLASS C       | FVAIX           |
| C000079642 | ADVISOR CLASS | FRVZX           |
| C000194369 | Class R6      | FRVRX           |
| C000205907 | Class A       | FVAQX           |

### FRANKLIN COLORADO TAX-FREE INCOME FUND (Series ID: S000006929)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018796 | CLASS A1      | FRCOX           |
| C000018797 | CLASS C       | FCOIX           |
| C000079643 | ADVISOR CLASS | FCOZX           |
| C000194370 | Class R6      | FKTLX           |
| C000205908 | Class A       | FCOQX           |

### FRANKLIN CONNECTICUT TAX-FREE INCOME FUND (Series ID: S000006930)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018798 | CLASS A1      | FXCTX           |
| C000018799 | CLASS C       | FCTIX           |
| C000079644 | ADVISOR CLASS | FCNZX           |
| C000194371 | Class R6      | FCTQX           |
| C000205909 | Class A       | FQCTX           |

### FRANKLIN FEDERAL INTERMEDIATE-TERM TAX-FREE INCOME FUND (Series ID: S000006932)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018802 | CLASS A1      | FKITX           |
| C000018803 | CLASS C       | FCITX           |
| C000074134 | ADVISOR CLASS | FITZX           |
| C000194372 | Class R6      | FITQX           |
| C000205910 | Class A       | FKQTX           |

### FRANKLIN FEDERAL LIMITED-TERM TAX-FREE INCOME FUND (Series ID: S000006933)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018804 | CLASS A1      | FFTFX           |
| C000096868 | Advisor Class | FTFZX           |
| C000194373 | Class R6      | FFTRX           |
| C000205911 | Class A       | FFLQX           |

## Internal

```

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Franklin Tax-Free Trust and Shareholders
of Franklin Alabama Tax-Free Income Fund, Franklin Arizona Tax-Free
Income Fund, Franklin Colorado Tax-Free Income Fund, Franklin Connecticut
Tax-Free Income Fund, Franklin Federal Intermediate-Term Tax-Free Income
Fund, Franklin Federal Limited-Term Tax-Free Income Fund, Franklin Georgia
Tax-Free Income Fund, Franklin High Yield Tax-Free Income Fund, Franklin
Louisiana Tax-Free Income Fund, Franklin Maryland Tax-Free Income Fund,
Franklin Massachusetts Tax-Free Income Fund, Franklin Michigan Tax-Free
Income Fund, Franklin Minnesota Tax-Free Income Fund, Franklin Missouri
Tax-Free Income Fund, Franklin New Jersey Tax-Free Income Fund, Franklin
North Carolina Tax-Free Income Fund, Franklin Ohio Tax-Free Income Fund,
Franklin Oregon Tax-Free Income Fund, Franklin Pennsylvania Tax-Free
Income Fund and Franklin Virginia Tax-Free Income Fund

In planning and performing our audits of the financial statements of
Franklin Alabama Tax-Free Income Fund, Franklin Arizona Tax-Free Income
Fund, Franklin Colorado Tax-Free Income Fund, Franklin Connecticut
Tax-Free Income Fund, Franklin Federal Intermediate-Term Tax-Free Income
Fund, Franklin Federal Limited-Term Tax-Free Income Fund, Franklin
Georgia Tax-Free Income Fund, Franklin High Yield Tax-Free Income Fund,
Franklin Louisiana Tax-Free Income Fund, Franklin Maryland Tax-Free
Income Fund, Franklin Massachusetts Tax-Free Income Fund, Franklin
Michigan Tax-Free Income Fund, Franklin Minnesota Tax-Free Income Fund,
Franklin Missouri Tax-Free Income Fund, Franklin New Jersey Tax-Free
Income Fund, Franklin North Carolina Tax-Free Income Fund, Franklin
Ohio Tax-Free Income Fund, Franklin Oregon Tax-Free Income Fund, Franklin
Pennsylvania Tax-Free Income Fund and Franklin Virginia Tax-Free Income
Fund (twenty of the funds constituting Franklin Tax-Free Trust, hereafter
collectively referred to as the "Funds") as of and for the year ended
February 28, 2026, 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 a material weakness as
defined above as of February 28, 2026.

This report is intended solely for the information and use of the Board
of Trustees of Franklin Tax-Free Trust 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
April 17, 2026

```

## 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

```

## 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

```

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

## N-CEN: Filer Information
**Submission Type:** N-CEN
**CIK:** 0000757010

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

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

**Item A.1.a - Report for period ending:** 2026-02-28

**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 Tax Free Trust

- **Item B.1.b - Investment Company Act file number:** 811-04149

- **Item B.1.c - CIK:** 0000757010

- **Item B.1.d - LEI:** 549300C12HCE48FV1C70

- **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):** 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: 2**

- **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

**Location books Record: 3**

- **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:** 650-312-2000

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

**Location books Record: 4**

- **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: 5**

- **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: 6**

- **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: 7**

- **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

- **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:** 20

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

### 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-15534
  - IC-33117
  - IC-32722

### 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

- **Item B.23 - Did the Registrant pay any dividend or make any distribution required to be accompanied by a written statement?:** No

## Part C: Additional Questions for Management Investment Companies

### Management Investment Record: 1 - Franklin Federal Limited-Term Tax-Free Income Fund

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

- **a. Full Name of the Fund:** Franklin Federal Limited-Term Tax-Free Income Fund

- **b. Series identification number, if any:** S000006933

- **c. LEI:** 5493007EWSZA540FRT73

- **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?:** 4

- **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                 | C000205911                                | FFLQX                        |
|                           2 | Advisor Class           | C000096868                                | FTFZX                        |
|                           3 | Class A1                | C000018804                                | FFTFX                        |
|                           4 | Class R6                | C000194373                                | FFTRX                        |

**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?** No

- **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 12d1-4 (17 CFR 270.12d1-4)

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

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

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

- Rule 17a-7 (17 CFR 270.17a-7)

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

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

**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:** 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:** 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))

- **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 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 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

**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 ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| Goldman Sachs & Co. LLC          | 8-00129           |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $19,898,429.60            |
| Morgan Stanley & Co. LLC         | 8-15869           |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $24,369,107.35            |
| BofA Securities, Inc.            | 8-69787           |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $48,561,022.50            |
| Jefferies LLC                    | 8-15074           |    000002347 | 58PU97L1C0WSRCWADL48 | NY      | US        | $31,581,410.00            |
| U.S. Bancorp Investments, Inc.   | 8-35359           |    000017868 | H85Z6XZP8B10ES0M2G89 | MN      | US        | $52,730,000.00            |
| J.P. Morgan Securities LLC       | 8-35008           |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $30,024,468.36            |
| Raymond James & Associates, Inc. | 8-10999           |    000000705 | U4ONQX15J3RO8XCKE979 | FL      | US        | $18,638,108.60            |
| Truist Securities, Inc.          | 8-17212           |    000006271 | CSVTK36R0PNGXEM7NS14 | GA      | US        | $17,400,000.00            |
| RBC Capital Markets, LLC         | 8-45411           |    000031194 | 549300LCO2FLSSVFFR64 | NY      | US        | $37,508,772.00            |
| Barclays Capital, Inc.           | 8-41342           |    000019714 | AC28XWWI3WIBK2824319 | NY      | US        | $41,336,605.30            |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $453,374,460.26

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

- **Item C.19.a - Fund's monthly average net assets:** $877,002,135.50

**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:** DEUTSCHE BANK AG NEW YORK BRANCH

  - **Line Institutions Record: 2 Name of institution:** THE TORONTO-DOMINION BANK NEW YORK BRANCH

  - **Line Institutions Record: 3 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 4 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 5 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 6 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 7 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 8 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 9 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 10 Name of institution:** THE BANK OF NOVA SCOTIA HOUSTON BRANCH

  - **Line Institutions Record: 11 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 12 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 13 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 14 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 15 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 16 Name of institution:** M&T BANK

  - **Line Institutions Record: 17 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   |
|:---|:---|
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Putnam VT Small Cap Value Fund                                 | 811-05346         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Putnam High Yield Fund                                         | 811-04616         |
| International Equity Series                                    | 811-06135         |
| Franklin Growth Fund                                           | 811-00537         |
| Putnam Small Cap Growth Fund                                   | 811-07513         |
| Putnam VT Sustainable Future Fund                              | 811-05346         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Putnam Mortgage Opportunities Fund                             | 811-07513         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Putnam Diversified Income Trust                                | 811-05635         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| ClearBridge SMASh Series EM Fund                               | 811-22338         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Western Asset Income Fund                                      | 811-04254         |
| Franklin Global Allocation Fund                                | 811-07851         |
| ClearBridge Emerging Markets Fund                              | 811-22338         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Franklin Mutual U.S. Mid Cap Value Fund                        | 811-05878         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Franklin High Yield Corporate ETF                              | 811-23124         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Putnam VT Small Cap Growth Fund                                | 811-05346         |
| Putnam International Equity Fund                               | 811-06190         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Putnam International Value Fund                                | 811-07513         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Putnam VT Large Cap Value Fund                                 | 811-05346         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Franklin Mutual Small-Mid Cap Value Fund                       | 811-05878         |
| Putnam VT Mortgage Securities Fund                             | 811-05346         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Putnam Ultra Short MAC Series                                  | 811-07513         |
| Templeton World Fund                                           | 811-02781         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Putnam VT Focused International Equity Fund                    | 811-05346         |
| Putnam Global Health Care Fund                                 | 811-03386         |
| Putnam Short Duration Bond Fund                                | 811-07513         |
| Putnam Core Bond Fund                                          | 811-07513         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin Templeton SMACS: Series CP                            | 811-06243         |
| Putnam VT Core Equity Fund                                     | 811-05346         |
| Putnam Dynamic Asset Allocation Conservative Fund              | 811-07121         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Putnam International Small Cap Fund                            | 811-07237         |
| ClearBridge Value Fund                                         | 811-22338         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| ClearBridge Growth Fund                                        | 811-06444         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin Mutual International Value Fund                       | 811-05387         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Western Asset Long Credit VIT                                  | 811-06310         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Putnam Large Cap Growth Fund                                   | 811-07237         |
| Putnam Focused International Equity Fund                       | 811-01403         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Putnam Sustainable Leaders Fund                                | 811-06128         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Templeton Global Dynamic Income Fund                           | 811-08226         |
| Putnam Core Equity Fund                                        | 811-07513         |
| Putnam VT Sustainable Leaders Fund                             | 811-05346         |
| Putnam VT Large Cap Growth Fund                                | 811-05346         |
| Putnam VT Research Fund                                        | 811-05346         |
| George Putnam Balanced Fund                                    | 811-00058         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Franklin Senior Loan ETF                                       | 811-23124         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Western Asset California Municipals Fund                       | 811-04254         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Putnam VT International Value Fund                             | 811-05346         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Putnam Dynamic Asset Allocation Growth Fund                    | 811-07121         |
| Putnam Small Cap Value Fund                                    | 811-07237         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Putnam Mortgage Securities Fund                                | 811-03897         |
| Putnam VT Diversified Income Fund                              | 811-05346         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Putnam VT Global Asset Allocation Fund                         | 811-05346         |
| Franklin Long Duration Credit Fund                             | 811-04986         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Franklin High Income Fund                                      | 811-01608         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Putnam U.S. Research Fund                                      | 811-07237         |
| BrandywineGLOBAL - Multi-Sector Opportunities Fund             | 811-22338         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Franklin Small-Mid Cap Growth Fund                             | 811-06243         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| ClearBridge International Value Fund                           | 811-06444         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Franklin DynaTech Fund                                         | 811-00537         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin Core Plus Bond Fund                                   | 811-06243         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Putnam Global Income Trust                                     | 811-04524         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Putnam Multi-Asset Income Fund                                 | 811-07121         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Putnam Income Fund                                             | 811-00653         |
| Franklin California Intermediate-Term Tax-Free Income Fund     | 811-04356         |
| Putnam Ultra Short Duration Income Fund                        | 811-07513         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Putnam Emerging Markets Equity Fund                            | 811-07513         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Putnam VT International Equity Fund                            | 811-05346         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Putnam Focused Equity Fund                                     | 811-07513         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Putnam Sustainable Future Fund                                 | 811-07237         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Putnam Dynamic Asset Allocation Equity Fund                    | 811-07513         |
| Putnam VT Emerging Markets Equity Fund                         | 811-05346         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Templeton Global Bond Enhanced Fund                            | 811-04706         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Putnam Dynamic Asset Allocation Balanced Fund                  | 811-07121         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| ClearBridge Variable Growth Portfolio                          | 811-21128         |
| Putnam VT George Putnam Balanced Fund                          | 811-05346         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Franklin Low Duration U.S. Government Securities Fund          | 811-04986         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Putnam VT Global Health Care Fund                              | 811-05346         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Franklin Managed Income Fund                                   | 811-04986         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Putnam Large Cap Value Fund                                    | 811-02742         |
| Putnam Floating Rate Income Fund                               | 811-07513         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Putnam Global Technology Fund                                  | 811-07513         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Western Asset Bond ETF                                         | 811-23124         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Putnam VT High Yield Fund                                      | 811-05346         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| ClearBridge Select Fund                                        | 811-06444         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Franklin Templeton SMACS: Series C                             | 811-06243         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Putnam Convertible Securities Fund                             | 811-02280         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Franklin Alternative Strategies Fund                           | 811-22641         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Templeton Foreign Fund                                         | 811-02781         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Putnam VT Income Fund                                          | 811-05346         |
| Franklin Income Fund                                           | 811-00537         |
| Franklin U.S. Small Capitalization Equity Fund                 | 811-22338         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Franklin International Equity Fund                             | 811-22338         |

- **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 Colorado Tax-Free Income Fund

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

- **a. Full Name of the Fund:** Franklin Colorado Tax-Free Income Fund

- **b. Series identification number, if any:** S000006929

- **c. LEI:** 5493001MXWN8L6M0KP42

- **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 A1                | C000018796                                | FRCOX                        |
|                           2 | Class R6                | C000194370                                | FKTLX                        |
|                           3 | Class C                 | C000018797                                | FCOIX                        |
|                           4 | Advisor Class           | C000079643                                | FCOZX                        |
|                           5 | Class A                 | C000205908                                | FCOQX                        |

**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?** No

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

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

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

- Rule 17a-7 (17 CFR 270.17a-7)

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

- 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:** 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: 2**

- **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:** 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 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 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 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

**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 ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| Keybanc Capital Markets Inc.             | 8-30177           |    000000566 | 2EQWV0180Z211YVAD813 | OH      | US        | $3,500,000.00             |
| Barclays Capital, Inc.                   | 8-41342           |    000019714 | AC28XWWI3WIBK2824319 | NY      | US        | $15,900,000.00            |
| RBC Capital Markets, LLC                 | 8-45411           |    000031194 | 549300LCO2FLSSVFFR64 | NY      | US        | $20,037,802.30            |
| Stifel, Nicolaus & Company, Incorporated | 8-01447           |    000000793 | 5WUVMA08EYG4KEUPW589 | MO      | US        | $3,251,280.00             |
| Morgan Stanley & Co. LLC                 | 8-15869           |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $16,040,040.00            |
| Northland Securities, Inc.               | 8-48994           |    000040258 | 254900ZIK4MLVQAWLS15 | MN      | US        | $6,328,117.50             |
| Piper Sandler & Co.                      | 8-15204           |    000000665 | 549300GRQCWQ3XGH0H10 | MN      | US        | $13,113,076.50            |
| J.P. Morgan Securities LLC               | 8-35008           |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $10,419,102.20            |
| Wells Fargo Securities, LLC              | 8-65876           |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $9,982,517.84             |
| B. C. Ziegler and Company                | 8-00094           |    000000061 | 549300NLEOFP92P38Q71 | IL      | US        | $4,480,125.00             |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $115,975,729.86

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

- **Item C.19.a - Fund's monthly average net assets:** $484,620,486.59

**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:** THE BANK OF NOVA SCOTIA HOUSTON BRANCH

  - **Line Institutions Record: 2 Name of institution:** STANDARD CHARTERED BANK

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

  - **Line Institutions Record: 4 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 5 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 6 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 7 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 8 Name of institution:** M&T BANK

  - **Line Institutions Record: 9 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 10 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 11 Name of institution:** THE TORONTO-DOMINION BANK NEW YORK BRANCH

  - **Line Institutions Record: 12 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 13 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 14 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 15 Name of institution:** DEUTSCHE BANK AG NEW YORK BRANCH

  - **Line Institutions Record: 16 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 17 Name of institution:** CITIBANK, 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   |
|:---|:---|
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Franklin High Income Fund                                      | 811-01608         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Franklin Small-Mid Cap Growth Fund                             | 811-06243         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Templeton Foreign Fund                                         | 811-02781         |
| International Equity Series                                    | 811-06135         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Putnam Dynamic Asset Allocation Equity Fund                    | 811-07513         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Putnam Sustainable Future Fund                                 | 811-07237         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| ClearBridge Variable Growth Portfolio                          | 811-21128         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Putnam Multi-Asset Income Fund                                 | 811-07121         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Franklin Growth Fund                                           | 811-00537         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Putnam Large Cap Value Fund                                    | 811-02742         |
| Putnam VT Sustainable Leaders Fund                             | 811-05346         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Putnam Floating Rate Income Fund                               | 811-07513         |
| Franklin High Yield Corporate ETF                              | 811-23124         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Franklin Alternative Strategies Fund                           | 811-22641         |
| Putnam Core Bond Fund                                          | 811-07513         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Putnam U.S. Research Fund                                      | 811-07237         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Putnam VT Large Cap Growth Fund                                | 811-05346         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Franklin Mutual Small-Mid Cap Value Fund                       | 811-05878         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Putnam VT Diversified Income Fund                              | 811-05346         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Putnam International Small Cap Fund                            | 811-07237         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Franklin Senior Loan ETF                                       | 811-23124         |
| Putnam Focused Equity Fund                                     | 811-07513         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Putnam Focused International Equity Fund                       | 811-01403         |
| Putnam Core Equity Fund                                        | 811-07513         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| ClearBridge Select Fund                                        | 811-06444         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Putnam Income Fund                                             | 811-00653         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Franklin California Intermediate-Term Tax-Free Income Fund     | 811-04356         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Putnam VT International Value Fund                             | 811-05346         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| ClearBridge Emerging Markets Fund                              | 811-22338         |
| Western Asset Bond ETF                                         | 811-23124         |
| Franklin Global Allocation Fund                                | 811-07851         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Putnam International Value Fund                                | 811-07513         |
| Franklin Templeton SMACS: Series CP                            | 811-06243         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Putnam VT Income Fund                                          | 811-05346         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Putnam VT Large Cap Value Fund                                 | 811-05346         |
| Putnam VT Global Asset Allocation Fund                         | 811-05346         |
| Putnam Global Income Trust                                     | 811-04524         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Putnam Small Cap Value Fund                                    | 811-07237         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Franklin International Growth Fund                             | 811-10157         |
| ClearBridge Growth Fund                                        | 811-06444         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Putnam Mortgage Opportunities Fund                             | 811-07513         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin Managed Income Fund                                   | 811-04986         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Franklin Low Duration U.S. Government Securities Fund          | 811-04986         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Putnam High Yield Fund                                         | 811-04616         |
| Putnam Emerging Markets Equity Fund                            | 811-07513         |
| ClearBridge SMASh Series EM Fund                               | 811-22338         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Putnam Diversified Income Trust                                | 811-05635         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Putnam International Equity Fund                               | 811-06190         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| ClearBridge Value Fund                                         | 811-22338         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Templeton World Fund                                           | 811-02781         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Putnam Dynamic Asset Allocation Conservative Fund              | 811-07121         |
| Franklin Utilities Fund                                        | 811-00537         |
| Putnam Global Technology Fund                                  | 811-07513         |
| Putnam VT International Equity Fund                            | 811-05346         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Franklin DynaTech Fund                                         | 811-00537         |
| Putnam Short Duration Bond Fund                                | 811-07513         |
| ClearBridge International Value Fund                           | 811-06444         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Franklin Mutual U.S. Mid Cap Value Fund                        | 811-05878         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Putnam Convertible Securities Fund                             | 811-02280         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Franklin Income VIP Fund                                       | 811-05583         |
| BrandywineGLOBAL - Multi-Sector Opportunities Fund             | 811-22338         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Franklin Templeton SMACS: Series C                             | 811-06243         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Western Asset Income Fund                                      | 811-04254         |
| Franklin Income Fund                                           | 811-00537         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Putnam VT Small Cap Value Fund                                 | 811-05346         |
| Templeton Global Dynamic Income Fund                           | 811-08226         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Putnam VT George Putnam Balanced Fund                          | 811-05346         |
| Putnam VT Global Health Care Fund                              | 811-05346         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Putnam VT Small Cap Growth Fund                                | 811-05346         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Templeton Global Bond Enhanced Fund                            | 811-04706         |
| Putnam VT Sustainable Future Fund                              | 811-05346         |
| Franklin International Equity Fund                             | 811-22338         |
| Putnam Global Health Care Fund                                 | 811-03386         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Putnam VT Focused International Equity Fund                    | 811-05346         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Putnam Mortgage Securities Fund                                | 811-03897         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Franklin Global Equity Fund                                    | 811-06444         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin Long Duration Credit Fund                             | 811-04986         |
| Franklin Mutual International Value Fund                       | 811-05387         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Putnam VT High Yield Fund                                      | 811-05346         |
| Putnam VT Emerging Markets Equity Fund                         | 811-05346         |
| Western Asset Long Credit VIT                                  | 811-06310         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Putnam Large Cap Growth Fund                                   | 811-07237         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Putnam Dynamic Asset Allocation Growth Fund                    | 811-07121         |
| George Putnam Balanced Fund                                    | 811-00058         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Putnam VT Mortgage Securities Fund                             | 811-05346         |
| Franklin U.S. Small Capitalization Equity Fund                 | 811-22338         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Putnam Ultra Short Duration Income Fund                        | 811-07513         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Putnam Ultra Short MAC Series                                  | 811-07513         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Western Asset California Municipals Fund                       | 811-04254         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Putnam VT Core Equity Fund                                     | 811-05346         |
| Franklin Core Plus Bond Fund                                   | 811-06243         |
| Putnam Small Cap Growth Fund                                   | 811-07513         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Putnam Dynamic Asset Allocation Balanced Fund                  | 811-07121         |
| Putnam Sustainable Leaders Fund                                | 811-06128         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Putnam VT Research Fund                                        | 811-05346         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Western Asset Corporate 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: 3 - Franklin North Carolina Tax-Free Income Fund

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

- **a. Full Name of the Fund:** Franklin North Carolina Tax-Free Income Fund

- **b. Series identification number, if any:** S000006924

- **c. LEI:** 549300QZWHCXM9J5TR59

- **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 A1                | C000018784                                | FXNCX                        |
|                           2 | Class A                 | C000205903                                | FQNCX                        |
|                           3 | Class C                 | C000018785                                | FNCIX                        |
|                           4 | Class R6                | C000194365                                | FNCQX                        |
|                           5 | Advisor Class           | C000079639                                | FNCZX                        |

**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?** No

- **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 17a-7 (17 CFR 270.17a-7)

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

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

**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:** 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:** 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

**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

- **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))

- **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.**

No Brokers reported.

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

| Name                            | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| Morgan Stanley & Co. LLC        | 8-15869           |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $18,750,108.00            |
| J.P. Morgan Securities LLC      | 8-35008           |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $58,886,660.65            |
| BNY Mellon Capital Markets, LLC | 8-35255           |    000017454 | VJW2DOOHGDT6PR0ZRO63 | NY      | US        | $4,228,817.15             |
| UBS Securities LLC              | 8-22651           |    000007654 | T6FIZBDPKLYJKFCRVK44 | NY      | US        | $13,368,952.70            |
| Truist Securities, Inc.         | 8-17212           |    000006271 | CSVTK36R0PNGXEM7NS14 | GA      | US        | $4,228,602.00             |
| B. C. Ziegler and Company       | 8-00094           |    000000061 | 549300NLEOFP92P38Q71 | IL      | US        | $14,272,321.00            |
| Wells Fargo Securities, LLC     | 8-65876           |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $20,289,788.92            |
| Piper Sandler & Co.             | 8-15204           |    000000665 | 549300GRQCWQ3XGH0H10 | MN      | US        | $9,224,832.50             |
| RBC Capital Markets, LLC        | 8-45411           |    000031194 | 549300LCO2FLSSVFFR64 | NY      | US        | $8,565,067.00             |
| BofA Securities, Inc.           | 8-69787           |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $66,756,090.60            |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $232,439,915.22

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

- **Item C.19.a - Fund's monthly average net assets:** $572,298,836.21

**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:** DEUTSCHE BANK AG NEW YORK BRANCH

  - **Line Institutions Record: 2 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 3 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

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

  - **Line Institutions Record: 5 Name of institution:** BANK OF AMERICA, N.A.

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

  - **Line Institutions Record: 7 Name of institution:** THE BANK OF NOVA SCOTIA HOUSTON BRANCH

  - **Line Institutions Record: 8 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 9 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 10 Name of institution:** THE TORONTO-DOMINION BANK NEW YORK BRANCH

  - **Line Institutions Record: 11 Name of institution:** M&T BANK

  - **Line Institutions Record: 12 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 13 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 14 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 15 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 16 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 17 Name of institution:** CITIBANK, 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   |
|:---|:---|
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Franklin Mutual Small-Mid Cap Value Fund                       | 811-05878         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Franklin Low Duration U.S. Government Securities Fund          | 811-04986         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Putnam Large Cap Growth Fund                                   | 811-07237         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Putnam VT Sustainable Future Fund                              | 811-05346         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Putnam Global Technology Fund                                  | 811-07513         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Putnam High Yield Fund                                         | 811-04616         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Western Asset Long Credit VIT                                  | 811-06310         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Franklin DynaTech Fund                                         | 811-00537         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin High Yield Corporate ETF                              | 811-23124         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin Templeton SMACS: Series C                             | 811-06243         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| ClearBridge Value Fund                                         | 811-22338         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Putnam VT Income Fund                                          | 811-05346         |
| Putnam International Value Fund                                | 811-07513         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Putnam Sustainable Future Fund                                 | 811-07237         |
| Putnam VT International Value Fund                             | 811-05346         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Franklin Senior Loan ETF                                       | 811-23124         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Putnam Dynamic Asset Allocation Growth Fund                    | 811-07121         |
| BrandywineGLOBAL - Multi-Sector Opportunities Fund             | 811-22338         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Templeton World Fund                                           | 811-02781         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Putnam Mortgage Securities Fund                                | 811-03897         |
| Franklin Growth Fund                                           | 811-00537         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Putnam VT Focused International Equity Fund                    | 811-05346         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Franklin California Intermediate-Term Tax-Free Income Fund     | 811-04356         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Putnam VT Large Cap Growth Fund                                | 811-05346         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin Total Return Fund                                     | 811-04986         |
| Putnam VT Diversified Income Fund                              | 811-05346         |
| Putnam Diversified Income Trust                                | 811-05635         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Putnam VT Small Cap Value Fund                                 | 811-05346         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Putnam Ultra Short Duration Income Fund                        | 811-07513         |
| Putnam Income Fund                                             | 811-00653         |
| Putnam Mortgage Opportunities Fund                             | 811-07513         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| ClearBridge SMASh Series EM Fund                               | 811-22338         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Putnam VT Sustainable Leaders Fund                             | 811-05346         |
| ClearBridge International Value Fund                           | 811-06444         |
| Putnam Sustainable Leaders Fund                                | 811-06128         |
| Putnam International Equity Fund                               | 811-06190         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Putnam Emerging Markets Equity Fund                            | 811-07513         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Templeton Global Bond Enhanced Fund                            | 811-04706         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin U.S. Small Capitalization Equity Fund                 | 811-22338         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| ClearBridge Growth Fund                                        | 811-06444         |
| Putnam VT Mortgage Securities Fund                             | 811-05346         |
| Putnam VT Global Asset Allocation Fund                         | 811-05346         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Putnam U.S. Research Fund                                      | 811-07237         |
| Putnam VT Research Fund                                        | 811-05346         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Putnam Focused Equity Fund                                     | 811-07513         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Putnam International Small Cap Fund                            | 811-07237         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Putnam Short Duration Bond Fund                                | 811-07513         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Putnam Global Health Care Fund                                 | 811-03386         |
| Franklin Core Plus Bond Fund                                   | 811-06243         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Franklin High Income Fund                                      | 811-01608         |
| Franklin Utilities Fund                                        | 811-00537         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Western Asset Bond ETF                                         | 811-23124         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Putnam Ultra Short MAC Series                                  | 811-07513         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Putnam VT High Yield Fund                                      | 811-05346         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Putnam Large Cap Value Fund                                    | 811-02742         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Franklin Mutual International Value Fund                       | 811-05387         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| International Equity Series                                    | 811-06135         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Putnam Focused International Equity Fund                       | 811-01403         |
| Putnam Core Equity Fund                                        | 811-07513         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Franklin Small-Mid Cap Growth Fund                             | 811-06243         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Putnam Dynamic Asset Allocation Conservative Fund              | 811-07121         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin Mutual U.S. Mid Cap Value Fund                        | 811-05878         |
| Putnam Dynamic Asset Allocation Balanced Fund                  | 811-07121         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Putnam VT Small Cap Growth Fund                                | 811-05346         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Templeton Foreign Fund                                         | 811-02781         |
| Western Asset Income Fund                                      | 811-04254         |
| Putnam Global Income Trust                                     | 811-04524         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Putnam Floating Rate Income Fund                               | 811-07513         |
| Franklin Managed Income Fund                                   | 811-04986         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| George Putnam Balanced Fund                                    | 811-00058         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Putnam Multi-Asset Income Fund                                 | 811-07121         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Putnam VT Emerging Markets Equity Fund                         | 811-05346         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Putnam Core Bond Fund                                          | 811-07513         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Templeton Global Dynamic Income Fund                           | 811-08226         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Franklin Long Duration Credit Fund                             | 811-04986         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Putnam VT International Equity Fund                            | 811-05346         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Putnam VT George Putnam Balanced Fund                          | 811-05346         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Putnam Dynamic Asset Allocation Equity Fund                    | 811-07513         |
| Putnam VT Global Health Care Fund                              | 811-05346         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Putnam Small Cap Growth Fund                                   | 811-07513         |
| ClearBridge Select Fund                                        | 811-06444         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| ClearBridge Variable Growth Portfolio                          | 811-21128         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| ClearBridge Emerging Markets Fund                              | 811-22338         |
| Putnam Small Cap Value Fund                                    | 811-07237         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Putnam Convertible Securities Fund                             | 811-02280         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin Alternative Strategies Fund                           | 811-22641         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Franklin Templeton SMACS: Series CP                            | 811-06243         |
| Putnam VT Core Equity Fund                                     | 811-05346         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Franklin Income Fund                                           | 811-00537         |
| Putnam VT Large Cap Value Fund                                 | 811-05346         |

- **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 Massachusetts Tax-Free Income Fund

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

- **a. Full Name of the Fund:** Franklin Massachusetts Tax-Free Income Fund

- **b. Series identification number, if any:** S000006918

- **c. LEI:** 549300XZPZ7F8I55V541

- **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                 | C000205897                                | FMAQX                        |
|                           2 | Advisor Class           | C000079636                                | FMAHX                        |
|                           3 | Class R6                | C000194359                                | FKTMX                        |
|                           4 | Class A1                | C000018769                                | FMISX                        |
|                           5 | Class C                 | C000018770                                | FMAIX                        |

**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?** No

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

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

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

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

- Rule 17a-7 (17 CFR 270.17a-7)

- Rule 22d-1 (17 CFR 270.22d-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:** 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:** 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

**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

- **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))

- **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 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 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

**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 ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| RBC Capital Markets, LLC         | 8-45411           |    000031194 | 549300LCO2FLSSVFFR64 | NY      | US        | $7,549,995.00             |
| Wells Fargo Securities, LLC      | 8-65876           |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $12,872,234.86            |
| Piper Sandler & Co.              | 8-15204           |    000000665 | 549300GRQCWQ3XGH0H10 | MN      | US        | $7,959,100.00             |
| Barclays Capital, Inc.           | 8-41342           |    000019714 | AC28XWWI3WIBK2824319 | NY      | US        | $12,086,755.00            |
| Mesirow Financial, Inc.          | 8-28816           |    000002764 | 549300BIV46SUHPOFE54 | IL      | US        | $5,712,660.00             |
| Goldman Sachs & Co. LLC          | 8-00129           |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $20,566,768.30            |
| BofA Securities, Inc.            | 8-69787           |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $6,942,428.65             |
| J.P. Morgan Securities LLC       | 8-35008           |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $13,592,820.63            |
| Morgan Stanley & Co. LLC         | 8-15869           |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $67,706,200.82            |
| Raymond James & Associates, Inc. | 8-10999           |    000000705 | U4ONQX15J3RO8XCKE979 | FL      | US        | $7,103,110.00             |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $173,852,945.11

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

- **Item C.19.a - Fund's monthly average net assets:** $332,702,087.03

**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:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 2 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 3 Name of institution:** ROYAL BANK OF CANADA

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

  - **Line Institutions Record: 5 Name of institution:** HSBC BANK USA, N.A.

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

  - **Line Institutions Record: 7 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 8 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 9 Name of institution:** THE BANK OF NOVA SCOTIA HOUSTON BRANCH

  - **Line Institutions Record: 10 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 11 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 12 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 13 Name of institution:** DEUTSCHE BANK AG NEW YORK BRANCH

  - **Line Institutions Record: 14 Name of institution:** M&T BANK

  - **Line Institutions Record: 15 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 16 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 17 Name of institution:** THE TORONTO-DOMINION BANK NEW YORK BRANCH

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

- **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 High Yield Tax-Free Income Fund

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

- **a. Full Name of the Fund:** Franklin High Yield Tax-Free Income Fund

- **b. Series identification number, if any:** S000006913

- **c. LEI:** 549300VNA321FWWAAQ57

- **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                 | C000199703                                | FHYQX                        |
|                           2 | Class A1                | C000018758                                | FRHIX                        |
|                           3 | Advisor Class           | C000018757                                | FHYVX                        |
|                           4 | Class R6                | C000194355                                | FHYRX                        |
|                           5 | Class C                 | C000018760                                | FHYIX                        |

**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?** No

- **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(c)(4) (17CFR 270.18f-4(c)(4))

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

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

- Rule 17a-7 (17 CFR 270.17a-7)

- 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?** No

- **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:** 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:** 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

**Pricing Services Record: 3**

- **i. Full name:** S&P Global Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** Y6X4K52KMJMZE7I7MY94

- **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:** 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

- **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))

- **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 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 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

**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 ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| Goldman Sachs & Co. LLC                  | 8-00129           |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $49,391,250.00            |
| Jefferies LLC                            | 8-15074           |    000002347 | 58PU97L1C0WSRCWADL48 | NY      | US        | $29,322,356.85            |
| Stifel, Nicolaus & Company, Incorporated | 8-01447           |    000000793 | 5WUVMA08EYG4KEUPW589 | MO      | US        | $48,652,350.75            |
| BofA Securities, Inc.                    | 8-69787           |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $69,415,353.25            |
| Wells Fargo Securities, LLC              | 8-65876           |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $196,807,548.31           |
| J.P. Morgan Securities LLC               | 8-35008           |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $161,352,773.00           |
| FMSBONDS, INC.                           | 8-23280           |    000007793 | 549300TUTBK58NSF2517 | FL      | US        | $323,256,140.26           |
| Morgan Stanley & Co. LLC                 | 8-15869           |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $32,865,644.50            |
| Barclays Capital, Inc.                   | 8-41342           |    000019714 | AC28XWWI3WIBK2824319 | NY      | US        | $98,308,490.00            |
| Truist Securities, Inc.                  | 8-17212           |    000006271 | CSVTK36R0PNGXEM7NS14 | GA      | US        | $62,476,100.00            |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $1,306,788,339.98

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

- **Item C.19.a - Fund's monthly average net assets:** $4,691,261,783.54

**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:** BARCLAYS BANK PLC

  - **Line Institutions Record: 2 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 3 Name of institution:** STANDARD CHARTERED BANK

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

  - **Line Institutions Record: 5 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 6 Name of institution:** M&T BANK

  - **Line Institutions Record: 7 Name of institution:** THE TORONTO-DOMINION BANK NEW YORK BRANCH

  - **Line Institutions Record: 8 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 9 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 10 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 11 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 12 Name of institution:** DEUTSCHE BANK AG NEW YORK BRANCH

  - **Line Institutions Record: 13 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 14 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 15 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 16 Name of institution:** THE BANK OF NOVA SCOTIA HOUSTON BRANCH

  - **Line Institutions Record: 17 Name of institution:** GOLDMAN SACHS BANK USA

- **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 Global Bond VIP Fund                                 | 811-05583         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Franklin Senior Loan ETF                                       | 811-23124         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Templeton Global Bond Enhanced Fund                            | 811-04706         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Franklin California Intermediate-Term Tax-Free Income Fund     | 811-04356         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin High Yield Corporate ETF                              | 811-23124         |
| Putnam VT Sustainable Future Fund                              | 811-05346         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Putnam VT Small Cap Growth Fund                                | 811-05346         |
| Putnam Floating Rate Income Fund                               | 811-07513         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Templeton Global Bond Fund                                     | 811-04706         |
| ClearBridge Variable Growth Portfolio                          | 811-21128         |
| Putnam VT Emerging Markets Equity Fund                         | 811-05346         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| ClearBridge Value Fund                                         | 811-22338         |
| Franklin Small-Mid Cap Growth Fund                             | 811-06243         |
| Putnam VT International Equity Fund                            | 811-05346         |
| International Equity Series                                    | 811-06135         |
| Putnam Dynamic Asset Allocation Balanced Fund                  | 811-07121         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| ClearBridge International Value Fund                           | 811-06444         |
| Franklin Mutual Small-Mid Cap Value Fund                       | 811-05878         |
| Putnam Global Technology Fund                                  | 811-07513         |
| Putnam Multi-Asset Income Fund                                 | 811-07121         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Western Asset California Municipals Fund                       | 811-04254         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Western Asset Bond ETF                                         | 811-23124         |
| Franklin Low Duration U.S. Government Securities Fund          | 811-04986         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Putnam VT High Yield Fund                                      | 811-05346         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Western Asset Long Credit VIT                                  | 811-06310         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin Natural Resources Fund                                | 811-06243         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Putnam Large Cap Growth Fund                                   | 811-07237         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Franklin DynaTech Fund                                         | 811-00537         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Putnam Dynamic Asset Allocation Conservative Fund              | 811-07121         |
| Putnam VT Large Cap Growth Fund                                | 811-05346         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Putnam VT Income Fund                                          | 811-05346         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| ClearBridge Emerging Markets Fund                              | 811-22338         |
| George Putnam Balanced Fund                                    | 811-00058         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Putnam VT Large Cap Value Fund                                 | 811-05346         |
| Putnam VT Research Fund                                        | 811-05346         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Putnam International Small Cap Fund                            | 811-07237         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Franklin Templeton SMACS: Series C                             | 811-06243         |
| Putnam Sustainable Future Fund                                 | 811-07237         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Putnam High Yield Fund                                         | 811-04616         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Franklin Total Return Fund                                     | 811-04986         |
| Putnam Diversified Income Trust                                | 811-05635         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin Managed Income Fund                                   | 811-04986         |
| Franklin Long Duration Credit Fund                             | 811-04986         |
| Putnam Mortgage Securities Fund                                | 811-03897         |
| Putnam Dynamic Asset Allocation Equity Fund                    | 811-07513         |
| Putnam VT Mortgage Securities Fund                             | 811-05346         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Putnam VT Sustainable Leaders Fund                             | 811-05346         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Franklin Mutual U.S. Mid Cap Value Fund                        | 811-05878         |
| Putnam Short Duration Bond Fund                                | 811-07513         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Putnam VT Global Health Care Fund                              | 811-05346         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Franklin Templeton SMACS: Series CP                            | 811-06243         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Putnam International Equity Fund                               | 811-06190         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Putnam VT Diversified Income Fund                              | 811-05346         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Putnam Small Cap Growth Fund                                   | 811-07513         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Putnam Ultra Short MAC Series                                  | 811-07513         |
| Putnam Convertible Securities Fund                             | 811-02280         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Putnam Sustainable Leaders Fund                                | 811-06128         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Franklin Alternative Strategies Fund                           | 811-22641         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Putnam VT George Putnam Balanced Fund                          | 811-05346         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Putnam Core Equity Fund                                        | 811-07513         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Franklin High Income Fund                                      | 811-01608         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Franklin Income Fund                                           | 811-00537         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Putnam Small Cap Value Fund                                    | 811-07237         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Putnam VT Global Asset Allocation Fund                         | 811-05346         |
| Putnam Ultra Short Duration Income Fund                        | 811-07513         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Putnam VT International Value Fund                             | 811-05346         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin U.S. Small Capitalization Equity Fund                 | 811-22338         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Putnam VT Core Equity Fund                                     | 811-05346         |
| Templeton World Fund                                           | 811-02781         |
| Putnam Emerging Markets Equity Fund                            | 811-07513         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Putnam Large Cap Value Fund                                    | 811-02742         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin Core Plus Bond Fund                                   | 811-06243         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Putnam Mortgage Opportunities Fund                             | 811-07513         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Putnam Focused Equity Fund                                     | 811-07513         |
| ClearBridge Select Fund                                        | 811-06444         |
| Templeton Global Dynamic Income Fund                           | 811-08226         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Western Asset Income Fund                                      | 811-04254         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Putnam Income Fund                                             | 811-00653         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| ClearBridge Growth Fund                                        | 811-06444         |
| Putnam Focused International Equity Fund                       | 811-01403         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Franklin Mutual International Value Fund                       | 811-05387         |
| Templeton Foreign Fund                                         | 811-02781         |
| Putnam Dynamic Asset Allocation Growth Fund                    | 811-07121         |
| Putnam U.S. Research Fund                                      | 811-07237         |
| Putnam Core Bond Fund                                          | 811-07513         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Putnam Global Income Trust                                     | 811-04524         |
| ClearBridge SMASh Series EM Fund                               | 811-22338         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Putnam VT Small Cap Value Fund                                 | 811-05346         |
| BrandywineGLOBAL - Multi-Sector Opportunities Fund             | 811-22338         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Putnam VT Focused International Equity Fund                    | 811-05346         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Putnam International Value Fund                                | 811-07513         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Franklin Growth Fund                                           | 811-00537         |
| Putnam Global Health Care Fund                                 | 811-03386         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| 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: 6 - Franklin Oregon Tax-Free Income Fund

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

- **a. Full Name of the Fund:** Franklin Oregon Tax-Free Income Fund

- **b. Series identification number, if any:** S000006926

- **c. LEI:** 549300OAFBSSULD06N68

- **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 A1                | C000018789                                | FRORX                        |
|                           2 | Class A                 | C000205905                                | FOFQX                        |
|                           3 | Class R6                | C000194367                                | FOFRX                        |
|                           4 | Advisor Class           | C000079640                                | FOFZX                        |
|                           5 | Class C                 | C000018790                                | FORIX                        |

**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?** No

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

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

- Rule 17a-7 (17 CFR 270.17a-7)

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

- Rule 22d-1 (17 CFR 270.22d-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:** 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: 2**

- **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:** 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.**

No Brokers reported.

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

| Name                                     | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| BofA Securities, Inc.                    | 8-69787           |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $25,202,972.10            |
| Estrada Hinojosa & Company, Inc.         | 8-61971           |    000019299 | N/A                  | TX      | US        | $16,304,742.00            |
| J.P. Morgan Securities LLC               | 8-35008           |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $21,468,651.00            |
| TD SECURITIES (USA) LLC                  | 8-36747           |    000018476 | SUVUFHICNZMP2WKHG940 | NY      | US        | $35,153,206.10            |
| Stifel, Nicolaus & Company, Incorporated | 8-01447           |    000000793 | 5WUVMA08EYG4KEUPW589 | MO      | US        | $17,451,125.00            |
| Wells Fargo Securities, LLC              | 8-65876           |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $18,752,166.10            |
| Morgan Stanley & Co. LLC                 | 8-15869           |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $53,608,275.70            |
| Raymond James & Associates, Inc.         | 8-10999           |    000000705 | U4ONQX15J3RO8XCKE979 | FL      | US        | $27,438,345.00            |
| Truist Securities, Inc.                  | 8-17212           |    000006271 | CSVTK36R0PNGXEM7NS14 | GA      | US        | $45,113,457.00            |
| U.S. Bancorp Investments, Inc.           | 8-35359           |    000017868 | H85Z6XZP8B10ES0M2G89 | MN      | US        | $60,100,000.00            |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $378,675,971.25

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

- **Item C.19.a - Fund's monthly average net assets:** $807,970,208.42

**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:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 2 Name of institution:** MORGAN STANLEY BANK, N.A.

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

  - **Line Institutions Record: 4 Name of institution:** THE TORONTO-DOMINION BANK NEW YORK BRANCH

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

  - **Line Institutions Record: 6 Name of institution:** M&T BANK

  - **Line Institutions Record: 7 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 8 Name of institution:** BARCLAYS BANK PLC

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

  - **Line Institutions Record: 10 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 11 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 12 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 13 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 14 Name of institution:** DEUTSCHE BANK AG NEW YORK BRANCH

  - **Line Institutions Record: 15 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 16 Name of institution:** THE BANK OF NOVA SCOTIA HOUSTON BRANCH

  - **Line Institutions Record: 17 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   |
|:---|:---|
| Putnam Core Equity Fund                                        | 811-07513         |
| Putnam Diversified Income Trust                                | 811-05635         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Putnam VT Mortgage Securities Fund                             | 811-05346         |
| Putnam Income Fund                                             | 811-00653         |
| Putnam Dynamic Asset Allocation Growth Fund                    | 811-07121         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Templeton World Fund                                           | 811-02781         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Putnam Sustainable Leaders Fund                                | 811-06128         |
| ClearBridge SMASh Series EM Fund                               | 811-22338         |
| Franklin Alternative Strategies Fund                           | 811-22641         |
| Putnam Mortgage Securities Fund                                | 811-03897         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Putnam VT Small Cap Growth Fund                                | 811-05346         |
| Franklin DynaTech Fund                                         | 811-00537         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Templeton Foreign Fund                                         | 811-02781         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Franklin Income Fund                                           | 811-00537         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Putnam VT Global Asset Allocation Fund                         | 811-05346         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| International Equity Series                                    | 811-06135         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| ClearBridge Growth Fund                                        | 811-06444         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Western Asset Income Fund                                      | 811-04254         |
| Putnam Floating Rate Income Fund                               | 811-07513         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Templeton Global Bond Enhanced Fund                            | 811-04706         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin California Intermediate-Term Tax-Free Income Fund     | 811-04356         |
| Putnam Core Bond Fund                                          | 811-07513         |
| ClearBridge Value Fund                                         | 811-22338         |
| Franklin Utilities Fund                                        | 811-00537         |
| ClearBridge Emerging Markets Fund                              | 811-22338         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| George Putnam Balanced Fund                                    | 811-00058         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Putnam Ultra Short Duration Income Fund                        | 811-07513         |
| Putnam VT International Value Fund                             | 811-05346         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Franklin U.S. Small Capitalization Equity Fund                 | 811-22338         |
| Putnam Dynamic Asset Allocation Conservative Fund              | 811-07121         |
| Putnam Short Duration Bond Fund                                | 811-07513         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Putnam VT Diversified Income Fund                              | 811-05346         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin Mutual International Value Fund                       | 811-05387         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin Growth Fund                                           | 811-00537         |
| Putnam Small Cap Value Fund                                    | 811-07237         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Putnam VT Sustainable Future Fund                              | 811-05346         |
| Putnam Global Income Trust                                     | 811-04524         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Franklin Low Duration U.S. Government Securities Fund          | 811-04986         |
| Franklin Templeton SMACS: Series C                             | 811-06243         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Franklin High Income Fund                                      | 811-01608         |
| Templeton Global Dynamic Income Fund                           | 811-08226         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin Senior Loan ETF                                       | 811-23124         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Putnam VT High Yield Fund                                      | 811-05346         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Putnam VT George Putnam Balanced Fund                          | 811-05346         |
| ClearBridge International Value Fund                           | 811-06444         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Putnam High Yield Fund                                         | 811-04616         |
| Franklin Core Plus Bond Fund                                   | 811-06243         |
| Franklin Income VIP Fund                                       | 811-05583         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Putnam Mortgage Opportunities Fund                             | 811-07513         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Putnam VT Income Fund                                          | 811-05346         |
| Putnam VT International Equity Fund                            | 811-05346         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Franklin Managed Income Fund                                   | 811-04986         |
| Franklin High Yield Corporate ETF                              | 811-23124         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Western Asset Long Credit VIT                                  | 811-06310         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Putnam Sustainable Future Fund                                 | 811-07237         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Franklin Templeton SMACS: Series CP                            | 811-06243         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Putnam VT Small Cap Value Fund                                 | 811-05346         |
| Franklin Mutual Small-Mid Cap Value Fund                       | 811-05878         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Western Asset Bond ETF                                         | 811-23124         |
| Putnam Dynamic Asset Allocation Balanced Fund                  | 811-07121         |
| Putnam Focused International Equity Fund                       | 811-01403         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Putnam Ultra Short MAC Series                                  | 811-07513         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Putnam International Small Cap Fund                            | 811-07237         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Putnam Dynamic Asset Allocation Equity Fund                    | 811-07513         |
| Putnam Convertible Securities Fund                             | 811-02280         |
| Putnam VT Research Fund                                        | 811-05346         |
| Franklin Long Duration Credit Fund                             | 811-04986         |
| Putnam Large Cap Growth Fund                                   | 811-07237         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Putnam VT Large Cap Value Fund                                 | 811-05346         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Putnam International Value Fund                                | 811-07513         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Putnam Emerging Markets Equity Fund                            | 811-07513         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Franklin Mutual U.S. Mid Cap Value Fund                        | 811-05878         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Putnam Large Cap Value Fund                                    | 811-02742         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Putnam Small Cap Growth Fund                                   | 811-07513         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| ClearBridge Variable Growth Portfolio                          | 811-21128         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Putnam VT Focused International Equity Fund                    | 811-05346         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| BrandywineGLOBAL - Multi-Sector Opportunities Fund             | 811-22338         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Putnam Global Technology Fund                                  | 811-07513         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Putnam VT Emerging Markets Equity Fund                         | 811-05346         |
| Putnam Multi-Asset Income Fund                                 | 811-07121         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Putnam VT Large Cap Growth Fund                                | 811-05346         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Putnam VT Sustainable Leaders Fund                             | 811-05346         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Putnam International Equity Fund                               | 811-06190         |
| Putnam VT Core Equity Fund                                     | 811-05346         |
| Putnam U.S. Research Fund                                      | 811-07237         |
| Franklin Small-Mid Cap Growth Fund                             | 811-06243         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Putnam VT Global Health Care Fund                              | 811-05346         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Putnam Focused Equity Fund                                     | 811-07513         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Putnam Global Health Care Fund                                 | 811-03386         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |

- **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: 7 - Franklin Arizona Tax-Free Income Fund

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

- **a. Full Name of the Fund:** Franklin Arizona Tax-Free Income Fund

- **b. Series identification number, if any:** S000006922

- **c. LEI:** 549300L4ECCV9MH8X830

- **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 A1                | C000018778                                | FTAZX                        |
|                           2 | Advisor Class           | C000068550                                | FAZZX                        |
|                           3 | Class R6                | C000194363                                | FAZRX                        |
|                           4 | Class A                 | C000205901                                | FAZQX                        |
|                           5 | Class C                 | C000018780                                | FAZIX                        |

**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?** No

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

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

- Rule 17a-7 (17 CFR 270.17a-7)

**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:** 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

- **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))

- **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 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 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

**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 ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| Stifel, Nicolaus & Company, Incorporated | 8-01447           |    000000793 | 5WUVMA08EYG4KEUPW589 | MO      | US        | $36,079,821.45            |
| BofA Securities, Inc.                    | 8-69787           |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $9,295,290.00             |
| Raymond James & Associates, Inc.         | 8-10999           |    000000705 | U4ONQX15J3RO8XCKE979 | FL      | US        | $17,376,004.25            |
| UBS Securities LLC                       | 8-22651           |    000007654 | T6FIZBDPKLYJKFCRVK44 | NY      | US        | $20,924,200.00            |
| J.P. Morgan Securities LLC               | 8-35008           |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $43,303,900.00            |
| Morgan Stanley & Co. LLC                 | 8-15869           |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $31,248,102.55            |
| Loop Capital Markets LLC                 | 8-50140           |    000043098 | 254900FPPM2WN90D4786 | IL      | US        | $15,313,306.00            |
| Truist Securities, Inc.                  | 8-17212           |    000006271 | CSVTK36R0PNGXEM7NS14 | GA      | US        | $14,938,696.35            |
| Hilltop Securities Inc.                  | 8-45123           |    000006220 | 549300IXU82PMU6XZT45 | TX      | US        | $10,339,100.00            |
| Wells Fargo Securities, LLC              | 8-65876           |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $44,479,510.08            |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $300,219,929.93

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

- **Item C.19.a - Fund's monthly average net assets:** $647,316,436.60

**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:** THE TORONTO-DOMINION BANK NEW YORK BRANCH

  - **Line Institutions Record: 2 Name of institution:** HSBC BANK USA, N.A.

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

  - **Line Institutions Record: 4 Name of institution:** DEUTSCHE BANK AG NEW YORK BRANCH

  - **Line Institutions Record: 5 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 6 Name of institution:** M&T BANK

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

  - **Line Institutions Record: 8 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 9 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 10 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 11 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 12 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 13 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 14 Name of institution:** THE BANK OF NOVA SCOTIA HOUSTON BRANCH

  - **Line Institutions Record: 15 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 16 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 17 Name of institution:** CITIBANK, 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   |
|:---|:---|
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Putnam VT Core Equity Fund                                     | 811-05346         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Putnam Income Fund                                             | 811-00653         |
| Putnam VT Sustainable Leaders Fund                             | 811-05346         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Putnam Dynamic Asset Allocation Balanced Fund                  | 811-07121         |
| Putnam Large Cap Value Fund                                    | 811-02742         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Putnam Global Technology Fund                                  | 811-07513         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin Mutual Small-Mid Cap Value Fund                       | 811-05878         |
| Putnam Dynamic Asset Allocation Growth Fund                    | 811-07121         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Putnam VT Sustainable Future Fund                              | 811-05346         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin U.S. Small Capitalization Equity Fund                 | 811-22338         |
| Putnam Large Cap Growth Fund                                   | 811-07237         |
| Franklin Mutual U.S. Mid Cap Value Fund                        | 811-05878         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Templeton Foreign Fund                                         | 811-02781         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Putnam Mortgage Opportunities Fund                             | 811-07513         |
| Franklin Long Duration Credit Fund                             | 811-04986         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Putnam Focused International Equity Fund                       | 811-01403         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Putnam Convertible Securities Fund                             | 811-02280         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Putnam Global Health Care Fund                                 | 811-03386         |
| Putnam VT International Value Fund                             | 811-05346         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Franklin Utilities Fund                                        | 811-00537         |
| Putnam Dynamic Asset Allocation Equity Fund                    | 811-07513         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Franklin Core Plus Bond Fund                                   | 811-06243         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Western Asset Bond ETF                                         | 811-23124         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| BrandywineGLOBAL - Multi-Sector Opportunities Fund             | 811-22338         |
| Western Asset Income Fund                                      | 811-04254         |
| Foreign Smaller Companies Series                               | 811-06135         |
| ClearBridge Value Fund                                         | 811-22338         |
| Franklin DynaTech Fund                                         | 811-00537         |
| Putnam VT Global Asset Allocation Fund                         | 811-05346         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Putnam Sustainable Leaders Fund                                | 811-06128         |
| Putnam VT High Yield Fund                                      | 811-05346         |
| Franklin Templeton SMACS: Series CP                            | 811-06243         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Putnam VT Global Health Care Fund                              | 811-05346         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Franklin Senior Loan ETF                                       | 811-23124         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Putnam VT George Putnam Balanced Fund                          | 811-05346         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Putnam Small Cap Growth Fund                                   | 811-07513         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Putnam Floating Rate Income Fund                               | 811-07513         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Putnam Ultra Short MAC Series                                  | 811-07513         |
| Putnam Global Income Trust                                     | 811-04524         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin Alternative Strategies Fund                           | 811-22641         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Franklin Managed Income Fund                                   | 811-04986         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| George Putnam Balanced Fund                                    | 811-00058         |
| Putnam International Value Fund                                | 811-07513         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Putnam VT Emerging Markets Equity Fund                         | 811-05346         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Putnam VT Large Cap Growth Fund                                | 811-05346         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| ClearBridge Emerging Markets Fund                              | 811-22338         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Putnam International Small Cap Fund                            | 811-07237         |
| Franklin Income Fund                                           | 811-00537         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Putnam VT International Equity Fund                            | 811-05346         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Putnam VT Focused International Equity Fund                    | 811-05346         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Putnam Core Bond Fund                                          | 811-07513         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Putnam Diversified Income Trust                                | 811-05635         |
| Putnam VT Small Cap Value Fund                                 | 811-05346         |
| Franklin Low Duration U.S. Government Securities Fund          | 811-04986         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Franklin Small-Mid Cap Growth Fund                             | 811-06243         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin Equity Income Fund                                    | 811-04986         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Putnam VT Diversified Income Fund                              | 811-05346         |
| Franklin Growth Fund                                           | 811-00537         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Putnam International Equity Fund                               | 811-06190         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Western Asset California Municipals Fund                       | 811-04254         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Putnam Core Equity Fund                                        | 811-07513         |
| Putnam VT Mortgage Securities Fund                             | 811-05346         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Putnam High Yield Fund                                         | 811-04616         |
| Putnam Multi-Asset Income Fund                                 | 811-07121         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| ClearBridge Select Fund                                        | 811-06444         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Templeton Global Dynamic Income Fund                           | 811-08226         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin Mutual International Value Fund                       | 811-05387         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Putnam Small Cap Value Fund                                    | 811-07237         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Putnam Sustainable Future Fund                                 | 811-07237         |
| ClearBridge International Value Fund                           | 811-06444         |
| Putnam VT Small Cap Growth Fund                                | 811-05346         |
| Putnam VT Income Fund                                          | 811-05346         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| ClearBridge Variable Growth Portfolio                          | 811-21128         |
| Putnam Emerging Markets Equity Fund                            | 811-07513         |
| Franklin Templeton SMACS: Series C                             | 811-06243         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| ClearBridge SMASh Series EM Fund                               | 811-22338         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Franklin International Growth Fund                             | 811-10157         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Putnam U.S. Research Fund                                      | 811-07237         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| ClearBridge Growth Fund                                        | 811-06444         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Putnam Focused Equity Fund                                     | 811-07513         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Franklin High Income Fund                                      | 811-01608         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Putnam VT Research Fund                                        | 811-05346         |
| Templeton World Fund                                           | 811-02781         |
| Putnam Ultra Short Duration Income Fund                        | 811-07513         |
| Putnam Short Duration Bond Fund                                | 811-07513         |
| Templeton Global Bond Enhanced Fund                            | 811-04706         |
| Western Asset Long Credit VIT                                  | 811-06310         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Franklin High Yield Corporate ETF                              | 811-23124         |
| Putnam Dynamic Asset Allocation Conservative Fund              | 811-07121         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Putnam VT Large Cap Value Fund                                 | 811-05346         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Putnam Mortgage Securities Fund                                | 811-03897         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Franklin California Intermediate-Term Tax-Free Income Fund     | 811-04356         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| International Equity Series                                    | 811-06135         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Franklin Mutual Shares 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: 8 - Franklin Virginia Tax-Free Income Fund

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

- **a. Full Name of the Fund:** Franklin Virginia Tax-Free Income Fund

- **b. Series identification number, if any:** S000006928

- **c. LEI:** 54930067KGTNTPDY2Z09

- **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 R6                | C000194369                                | FRVRX                        |
|                           2 | Class A1                | C000018794                                | FRVAX                        |
|                           3 | Class A                 | C000205907                                | FVAQX                        |
|                           4 | Class C                 | C000018795                                | FVAIX                        |
|                           5 | Advisor Class           | C000079642                                | FRVZX                        |

**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?** No

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

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

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

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

- Rule 17a-7 (17 CFR 270.17a-7)

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

**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

**Pricing Services Record: 2**

- **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: 3**

- **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:** 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 ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| Morgan Stanley & Co. LLC         | 8-15869           |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $12,142,986.00            |
| RBC Capital Markets, LLC         | 8-45411           |    000031194 | 549300LCO2FLSSVFFR64 | NY      | US        | $8,796,020.00             |
| Wells Fargo Securities, LLC      | 8-65876           |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $7,809,385.92             |
| UBS Securities LLC               | 8-22651           |    000007654 | T6FIZBDPKLYJKFCRVK44 | NY      | US        | $4,643,450.00             |
| Goldman Sachs & Co. LLC          | 8-00129           |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $4,326,507.50             |
| Truist Securities, Inc.          | 8-17212           |    000006271 | CSVTK36R0PNGXEM7NS14 | GA      | US        | $18,000,000.00            |
| J.P. Morgan Securities LLC       | 8-35008           |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $12,862,469.06            |
| TD SECURITIES (USA) LLC          | 8-36747           |    000018476 | SUVUFHICNZMP2WKHG940 | NY      | US        | $28,800,000.00            |
| Raymond James & Associates, Inc. | 8-10999           |    000000705 | U4ONQX15J3RO8XCKE979 | FL      | US        | $10,778,249.85            |
| BofA Securities, Inc.            | 8-69787           |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $44,209,638.65            |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $170,260,248.68

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

- **Item C.19.a - Fund's monthly average net assets:** $443,231,076.34

**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:** BARCLAYS BANK PLC

  - **Line Institutions Record: 2 Name of institution:** M&T BANK

  - **Line Institutions Record: 3 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 4 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 5 Name of institution:** BANK OF AMERICA, N.A.

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

  - **Line Institutions Record: 7 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 8 Name of institution:** DEUTSCHE BANK AG NEW YORK BRANCH

  - **Line Institutions Record: 9 Name of institution:** THE BANK OF NOVA SCOTIA HOUSTON BRANCH

  - **Line Institutions Record: 10 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 11 Name of institution:** THE TORONTO-DOMINION BANK NEW YORK BRANCH

  - **Line Institutions Record: 12 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 13 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 14 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 15 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 16 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 17 Name of institution:** MORGAN STANLEY 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   |
|:---|:---|
| Putnam VT Emerging Markets Equity Fund                         | 811-05346         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin California Intermediate-Term Tax-Free Income Fund     | 811-04356         |
| Putnam VT Large Cap Growth Fund                                | 811-05346         |
| Franklin Templeton SMACS: Series C                             | 811-06243         |
| Putnam VT Large Cap Value Fund                                 | 811-05346         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin Natural Resources Fund                                | 811-06243         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Franklin Global Allocation Fund                                | 811-07851         |
| ClearBridge International Growth Fund                          | 811-22338         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| ClearBridge Value Fund                                         | 811-22338         |
| Putnam VT Sustainable Leaders Fund                             | 811-05346         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Putnam Core Bond Fund                                          | 811-07513         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin Mutual International Value Fund                       | 811-05387         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Putnam Multi-Asset Income Fund                                 | 811-07121         |
| Putnam Dynamic Asset Allocation Conservative Fund              | 811-07121         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Templeton Foreign Fund                                         | 811-02781         |
| Putnam VT Small Cap Value Fund                                 | 811-05346         |
| Western Asset Income Fund                                      | 811-04254         |
| Putnam VT Diversified Income Fund                              | 811-05346         |
| Franklin High Income Fund                                      | 811-01608         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Putnam Income Fund                                             | 811-00653         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Putnam VT Small Cap Growth Fund                                | 811-05346         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Putnam VT International Equity Fund                            | 811-05346         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Putnam Sustainable Leaders Fund                                | 811-06128         |
| Franklin Mutual U.S. Mid Cap Value Fund                        | 811-05878         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| ClearBridge Variable Growth Portfolio                          | 811-21128         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Western Asset Bond ETF                                         | 811-23124         |
| Putnam Sustainable Future Fund                                 | 811-07237         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| ClearBridge International Value Fund                           | 811-06444         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Putnam Mortgage Securities Fund                                | 811-03897         |
| Franklin Core Plus Bond Fund                                   | 811-06243         |
| Putnam Floating Rate Income Fund                               | 811-07513         |
| Putnam International Small Cap Fund                            | 811-07237         |
| Putnam Global Health Care Fund                                 | 811-03386         |
| Putnam Small Cap Value Fund                                    | 811-07237         |
| Franklin DynaTech Fund                                         | 811-00537         |
| Franklin International Growth Fund                             | 811-10157         |
| International Equity Series                                    | 811-06135         |
| Putnam Short Duration Bond Fund                                | 811-07513         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Franklin Utilities Fund                                        | 811-00537         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Putnam U.S. Research Fund                                      | 811-07237         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Putnam VT George Putnam Balanced Fund                          | 811-05346         |
| Franklin Alternative Strategies Fund                           | 811-22641         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Franklin Senior Loan ETF                                       | 811-23124         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Putnam VT Global Health Care Fund                              | 811-05346         |
| Putnam VT Global Asset Allocation Fund                         | 811-05346         |
| Putnam VT Research Fund                                        | 811-05346         |
| Templeton World Fund                                           | 811-02781         |
| Putnam VT Income Fund                                          | 811-05346         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Putnam Global Income Trust                                     | 811-04524         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| George Putnam Balanced Fund                                    | 811-00058         |
| Putnam Global Technology Fund                                  | 811-07513         |
| Putnam VT High Yield Fund                                      | 811-05346         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin Small-Mid Cap Growth Fund                             | 811-06243         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Putnam Ultra Short MAC Series                                  | 811-07513         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Putnam Mortgage Opportunities Fund                             | 811-07513         |
| Templeton Global Bond Enhanced Fund                            | 811-04706         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Putnam International Equity Fund                               | 811-06190         |
| Western Asset Long Credit VIT                                  | 811-06310         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Putnam Large Cap Value Fund                                    | 811-02742         |
| ClearBridge Select Fund                                        | 811-06444         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin Templeton SMACS: Series CP                            | 811-06243         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| ClearBridge Growth Fund                                        | 811-06444         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Putnam International Value Fund                                | 811-07513         |
| Putnam Dynamic Asset Allocation Growth Fund                    | 811-07121         |
| Putnam Large Cap Growth Fund                                   | 811-07237         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Franklin Income Fund                                           | 811-00537         |
| Franklin U.S. Small Capitalization Equity Fund                 | 811-22338         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Putnam Focused Equity Fund                                     | 811-07513         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Putnam Convertible Securities Fund                             | 811-02280         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Putnam VT International Value Fund                             | 811-05346         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Putnam Small Cap Growth Fund                                   | 811-07513         |
| Putnam VT Core Equity Fund                                     | 811-05346         |
| Putnam Ultra Short Duration Income Fund                        | 811-07513         |
| Franklin Long Duration Credit Fund                             | 811-04986         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Franklin Global Equity Fund                                    | 811-06444         |
| BrandywineGLOBAL - Multi-Sector Opportunities Fund             | 811-22338         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| ClearBridge Emerging Markets Fund                              | 811-22338         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Putnam Dynamic Asset Allocation Equity Fund                    | 811-07513         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Templeton Global Dynamic Income Fund                           | 811-08226         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| ClearBridge SMASh Series EM Fund                               | 811-22338         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Putnam Dynamic Asset Allocation Balanced Fund                  | 811-07121         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Franklin Low Duration U.S. Government Securities Fund          | 811-04986         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Franklin High Yield Corporate ETF                              | 811-23124         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Putnam Emerging Markets Equity Fund                            | 811-07513         |
| Franklin Mutual Small-Mid Cap Value Fund                       | 811-05878         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Franklin Growth Fund                                           | 811-00537         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Putnam VT Sustainable Future Fund                              | 811-05346         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Putnam VT Mortgage Securities Fund                             | 811-05346         |
| Franklin Managed Income Fund                                   | 811-04986         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Putnam Diversified Income Trust                                | 811-05635         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Putnam VT Focused International Equity Fund                    | 811-05346         |
| Putnam Core Equity Fund                                        | 811-07513         |
| Putnam High Yield Fund                                         | 811-04616         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Putnam Focused International Equity Fund                       | 811-01403         |

- **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: 9 - Franklin Michigan Tax-Free Income Fund

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

- **a. Full Name of the Fund:** Franklin Michigan Tax-Free Income Fund

- **b. Series identification number, if any:** S000006919

- **c. LEI:** 549300HZX1XR2KYICN27

- **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 R6                | C000194360                                | FKTNX                        |
|                           2 | Class C                 | C000018773                                | FRMTX                        |
|                           3 | Class A1                | C000018771                                | FTTMX                        |
|                           4 | Class A                 | C000205898                                | FMQTX                        |
|                           5 | Advisor Class           | C000068549                                | FMTFX                        |

**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?** No

- **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 17a-7 (17 CFR 270.17a-7)

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

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

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

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

- 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:** 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:** 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

- **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))

- **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 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 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

**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 ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| ROBERT W. BAIRD & CO. INCORPORATED       | 8-00497           |    000008158 | 549300772UJAHRD6LO53 | WI      | US        | $6,439,535.00             |
| Wells Fargo Securities, LLC              | 8-65876           |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $14,478,601.15            |
| RBC Capital Markets, LLC                 | 8-45411           |    000031194 | 549300LCO2FLSSVFFR64 | NY      | US        | $9,039,320.00             |
| J.P. Morgan Securities LLC               | 8-35008           |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $20,926,790.00            |
| Barclays Capital, Inc.                   | 8-41342           |    000019714 | AC28XWWI3WIBK2824319 | NY      | US        | $8,742,240.00             |
| Jefferies LLC                            | 8-15074           |    000002347 | 58PU97L1C0WSRCWADL48 | NY      | US        | $7,641,400.00             |
| Stifel, Nicolaus & Company, Incorporated | 8-01447           |    000000793 | 5WUVMA08EYG4KEUPW589 | MO      | US        | $37,223,235.80            |
| Piper Sandler & Co.                      | 8-15204           |    000000665 | 549300GRQCWQ3XGH0H10 | MN      | US        | $8,122,861.00             |
| First Horizon Advisors, Inc.             | 8-35061           |    000017117 | COOWI3L2W9TPYR3WJX37 | TN      | US        | $6,407,435.00             |
| Siebert Williams Shank & Co., LLC        | 8-49877           |    000042568 | 254900VTARX8RAY9QK77 | NY      | US        | $12,405,159.35            |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $162,361,992.90

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

- **Item C.19.a - Fund's monthly average net assets:** $664,312,114.47

**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:** BARCLAYS BANK PLC

  - **Line Institutions Record: 2 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 3 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 4 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 5 Name of institution:** M&T BANK

  - **Line Institutions Record: 6 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 7 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 8 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 9 Name of institution:** DEUTSCHE BANK AG NEW YORK BRANCH

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

  - **Line Institutions Record: 11 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 12 Name of institution:** THE BANK OF NOVA SCOTIA HOUSTON BRANCH

  - **Line Institutions Record: 13 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 14 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 15 Name of institution:** THE TORONTO-DOMINION BANK NEW YORK BRANCH

  - **Line Institutions Record: 16 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 17 Name of institution:** ROYAL BANK OF CANADA

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

- **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: 10 - Franklin Pennsylvania Tax-Free Income Fund

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

- **a. Full Name of the Fund:** Franklin Pennsylvania Tax-Free Income Fund

- **b. Series identification number, if any:** S000006927

- **c. LEI:** 549300R0TTPG7IDXZS18

- **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 | Advisor Class           | C000079641                                | FPFZX                        |
|                           2 | Class R6                | C000194368                                | FRPRX                        |
|                           3 | Class C                 | C000018793                                | FRPTX                        |
|                           4 | Class A1                | C000018791                                | FRPAX                        |
|                           5 | Class A                 | C000205906                                | FPAQX                        |

**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?** No

- **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 17a-7 (17 CFR 270.17a-7)

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

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

- 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)

**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

**Pricing Services Record: 2**

- **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: 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

- **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))

- **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.**

No Brokers reported.

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

| Name                                     | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| Stifel, Nicolaus & Company, Incorporated | 8-01447           |    000000793 | 5WUVMA08EYG4KEUPW589 | MO      | US        | $12,455,868.45            |
| Morgan Stanley & Co. LLC                 | 8-15869           |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $14,568,382.00            |
| J.P. Morgan Securities LLC               | 8-35008           |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $83,406,991.83            |
| U.S. Bancorp Investments, Inc.           | 8-35359           |    000017868 | H85Z6XZP8B10ES0M2G89 | MN      | US        | $17,450,000.00            |
| BofA Securities, Inc.                    | 8-69787           |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $49,806,092.50            |
| Loop Capital Markets LLC                 | 8-50140           |    000043098 | 254900FPPM2WN90D4786 | IL      | US        | $11,408,580.00            |
| RBC Capital Markets, LLC                 | 8-45411           |    000031194 | 549300LCO2FLSSVFFR64 | NY      | US        | $19,780,323.55            |
| Northland Securities, Inc.               | 8-48994           |    000040258 | 254900ZIK4MLVQAWLS15 | MN      | US        | $9,997,800.00             |
| PNC Capital Markets LLC                  | 8-32493           |    000015647 | 7OGNSSLOQJ8U3B9Y5F18 | PA      | US        | $16,648,647.45            |
| B. C. Ziegler and Company                | 8-00094           |    000000061 | 549300NLEOFP92P38Q71 | IL      | US        | $21,426,515.75            |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $290,230,475.61

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

- **Item C.19.a - Fund's monthly average net assets:** $673,176,165.93

**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:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 2 Name of institution:** THE TORONTO-DOMINION BANK NEW YORK BRANCH

  - **Line Institutions Record: 3 Name of institution:** ROYAL BANK OF CANADA

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

  - **Line Institutions Record: 5 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 6 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 7 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 8 Name of institution:** M&T BANK

  - **Line Institutions Record: 9 Name of institution:** DEUTSCHE BANK AG NEW YORK BRANCH

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

  - **Line Institutions Record: 11 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 12 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 13 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 14 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 15 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 16 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 17 Name of institution:** THE BANK OF NOVA SCOTIA HOUSTON BRANCH

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

- **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: 11 - Franklin Missouri Tax-Free Income Fund

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

- **a. Full Name of the Fund:** Franklin Missouri Tax-Free Income Fund

- **b. Series identification number, if any:** S000006921

- **c. LEI:** 549300BSZYIHF0BCD467

- **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 | Advisor Class           | C000079638                                | FRMZX                        |
|                           2 | Class A1                | C000018776                                | FRMOX                        |
|                           3 | Class C                 | C000018777                                | FMOIX                        |
|                           4 | Class A                 | C000205900                                | FMQOX                        |
|                           5 | Class R6                | C000194362                                | FMOQX                        |

**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?** No

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

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

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

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

- Rule 17a-7 (17 CFR 270.17a-7)

- Rule 22d-1 (17 CFR 270.22d-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:** 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: 2**

- **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:** 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 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: 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 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 ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| BofA Securities, Inc.                    | 8-69787           |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $24,088,900.00            |
| U.S. Bancorp Investments, Inc.           | 8-35359           |    000017868 | H85Z6XZP8B10ES0M2G89 | MN      | US        | $10,450,000.00            |
| Raymond James & Associates, Inc.         | 8-10999           |    000000705 | U4ONQX15J3RO8XCKE979 | FL      | US        | $8,603,900.00             |
| Piper Sandler & Co.                      | 8-15204           |    000000665 | 549300GRQCWQ3XGH0H10 | MN      | US        | $18,014,993.15            |
| J.P. Morgan Securities LLC               | 8-35008           |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $8,575,107.10             |
| Wells Fargo Securities, LLC              | 8-65876           |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $8,666,099.79             |
| Morgan Stanley & Co. LLC                 | 8-15869           |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $15,298,348.00            |
| Truist Securities, Inc.                  | 8-17212           |    000006271 | CSVTK36R0PNGXEM7NS14 | GA      | US        | $33,921,080.00            |
| B. C. Ziegler and Company                | 8-00094           |    000000061 | 549300NLEOFP92P38Q71 | IL      | US        | $4,172,150.00             |
| Stifel, Nicolaus & Company, Incorporated | 8-01447           |    000000793 | 5WUVMA08EYG4KEUPW589 | MO      | US        | $33,272,104.55            |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $179,089,455.99

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

- **Item C.19.a - Fund's monthly average net assets:** $625,480,814.90

**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:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 2 Name of institution:** THE TORONTO-DOMINION BANK NEW YORK BRANCH

  - **Line Institutions Record: 3 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 4 Name of institution:** THE BANK OF NOVA SCOTIA HOUSTON BRANCH

  - **Line Institutions Record: 5 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 6 Name of institution:** CITIBANK, N.A.

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

  - **Line Institutions Record: 8 Name of institution:** THE BANK OF NEW YORK MELLON

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

  - **Line Institutions Record: 10 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 11 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 12 Name of institution:** M&T BANK

  - **Line Institutions Record: 13 Name of institution:** DEUTSCHE BANK AG NEW YORK BRANCH

  - **Line Institutions Record: 14 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 15 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 16 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 17 Name of institution:** STANDARD CHARTERED BANK

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

- **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: 12 - Franklin Ohio Tax-Free Income Fund

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

- **a. Full Name of the Fund:** Franklin Ohio Tax-Free Income Fund

- **b. Series identification number, if any:** S000006925

- **c. LEI:** 549300WYLHHD0O42HL20

- **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 C                 | C000018788                                | FOITX                        |
|                           2 | Class A1                | C000018786                                | FTOIX                        |
|                           3 | Class R6                | C000194366                                | FKTOX                        |
|                           4 | Advisor Class           | C000068552                                | FROZX                        |
|                           5 | Class A                 | C000205904                                | FOHQX                        |

**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?** No

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

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

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

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

- Rule 17a-7 (17 CFR 270.17a-7)

- 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:** 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:** 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: 2**

- **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:** 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 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 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 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

**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 ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| BofA Securities, Inc.                    | 8-69787           |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $8,663,954.00             |
| B. C. Ziegler and Company                | 8-00094           |    000000061 | 549300NLEOFP92P38Q71 | IL      | US        | $9,535,482.50             |
| J.P. Morgan Securities LLC               | 8-35008           |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $10,763,861.75            |
| Keybanc Capital Markets Inc.             | 8-30177           |    000000566 | 2EQWV0180Z211YVAD813 | OH      | US        | $13,017,421.80            |
| RBC Capital Markets, LLC                 | 8-45411           |    000031194 | 549300LCO2FLSSVFFR64 | NY      | US        | $27,068,460.00            |
| Truist Securities, Inc.                  | 8-17212           |    000006271 | CSVTK36R0PNGXEM7NS14 | GA      | US        | $32,215,000.00            |
| UBS Securities LLC                       | 8-22651           |    000007654 | T6FIZBDPKLYJKFCRVK44 | NY      | US        | $14,849,919.00            |
| Stifel, Nicolaus & Company, Incorporated | 8-01447           |    000000793 | 5WUVMA08EYG4KEUPW589 | MO      | US        | $20,058,536.70            |
| Raymond James & Associates, Inc.         | 8-10999           |    000000705 | U4ONQX15J3RO8XCKE979 | FL      | US        | $33,549,650.70            |
| Wells Fargo Securities, LLC              | 8-65876           |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $49,660,177.92            |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $283,718,769.82

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

- **Item C.19.a - Fund's monthly average net assets:** $929,854,613.51

**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:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 2 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 3 Name of institution:** M&T BANK

  - **Line Institutions Record: 4 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 5 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 6 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 7 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 8 Name of institution:** THE TORONTO-DOMINION BANK NEW YORK BRANCH

  - **Line Institutions Record: 9 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 10 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 11 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 12 Name of institution:** THE BANK OF NOVA SCOTIA HOUSTON BRANCH

  - **Line Institutions Record: 13 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 14 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 15 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 16 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 17 Name of institution:** DEUTSCHE BANK AG NEW YORK BRANCH

- **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 Multi-Asset Conservative Growth Fund                  | 811-06444         |
| ClearBridge Variable Growth Portfolio                          | 811-21128         |
| Franklin Long Duration Credit Fund                             | 811-04986         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Putnam Core Bond Fund                                          | 811-07513         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Putnam Ultra Short MAC Series                                  | 811-07513         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin Templeton SMACS: Series CP                            | 811-06243         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Putnam VT Emerging Markets Equity Fund                         | 811-05346         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| ClearBridge SMASh Series EM Fund                               | 811-22338         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Putnam Dynamic Asset Allocation Growth Fund                    | 811-07121         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Putnam Small Cap Growth Fund                                   | 811-07513         |
| Putnam International Equity Fund                               | 811-06190         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Putnam Sustainable Leaders Fund                                | 811-06128         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| George Putnam Balanced Fund                                    | 811-00058         |
| Putnam VT Research Fund                                        | 811-05346         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Putnam VT Large Cap Value Fund                                 | 811-05346         |
| Putnam Global Health Care Fund                                 | 811-03386         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Franklin Senior Loan ETF                                       | 811-23124         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Putnam Core Equity Fund                                        | 811-07513         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Putnam Dynamic Asset Allocation Equity Fund                    | 811-07513         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Putnam U.S. Research Fund                                      | 811-07237         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Putnam VT Large Cap Growth Fund                                | 811-05346         |
| Putnam VT George Putnam Balanced Fund                          | 811-05346         |
| Franklin High Yield Corporate ETF                              | 811-23124         |
| Putnam VT Sustainable Leaders Fund                             | 811-05346         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Putnam Dynamic Asset Allocation Balanced Fund                  | 811-07121         |
| Templeton Global Bond Enhanced Fund                            | 811-04706         |
| Franklin Managed Income Fund                                   | 811-04986         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Western Asset Long Credit VIT                                  | 811-06310         |
| Putnam Multi-Asset Income Fund                                 | 811-07121         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Franklin Templeton SMACS: Series C                             | 811-06243         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Putnam Global Income Trust                                     | 811-04524         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Franklin Income Fund                                           | 811-00537         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Templeton Foreign Fund                                         | 811-02781         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Putnam International Small Cap Fund                            | 811-07237         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Putnam Global Technology Fund                                  | 811-07513         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Putnam Focused Equity Fund                                     | 811-07513         |
| Western Asset Income Fund                                      | 811-04254         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Putnam Convertible Securities Fund                             | 811-02280         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin Alternative Strategies Fund                           | 811-22641         |
| Putnam VT Core Equity Fund                                     | 811-05346         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Putnam Mortgage Securities Fund                                | 811-03897         |
| Putnam VT International Equity Fund                            | 811-05346         |
| International Equity Series                                    | 811-06135         |
| Templeton Global Dynamic Income Fund                           | 811-08226         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Putnam Large Cap Value Fund                                    | 811-02742         |
| Franklin U.S. Small Capitalization Equity Fund                 | 811-22338         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Putnam Short Duration Bond Fund                                | 811-07513         |
| Franklin International Equity Fund                             | 811-22338         |
| Putnam High Yield Fund                                         | 811-04616         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Putnam Emerging Markets Equity Fund                            | 811-07513         |
| Putnam Focused International Equity Fund                       | 811-01403         |
| Franklin Low Duration U.S. Government Securities Fund          | 811-04986         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Putnam VT Mortgage Securities Fund                             | 811-05346         |
| ClearBridge Value Fund                                         | 811-22338         |
| Putnam Small Cap Value Fund                                    | 811-07237         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Putnam VT Diversified Income Fund                              | 811-05346         |
| Putnam VT Income Fund                                          | 811-05346         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin High Income Fund                                      | 811-01608         |
| ClearBridge Emerging Markets Fund                              | 811-22338         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Franklin Mutual International Value Fund                       | 811-05387         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Franklin Total Return Fund                                     | 811-04986         |
| Putnam VT Global Asset Allocation Fund                         | 811-05346         |
| Putnam Large Cap Growth Fund                                   | 811-07237         |
| Franklin Small-Mid Cap Growth Fund                             | 811-06243         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Putnam Income Fund                                             | 811-00653         |
| Putnam VT High Yield Fund                                      | 811-05346         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Putnam VT Global Health Care Fund                              | 811-05346         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Putnam Diversified Income Trust                                | 811-05635         |
| Putnam VT International Value Fund                             | 811-05346         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Putnam Dynamic Asset Allocation Conservative Fund              | 811-07121         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| BrandywineGLOBAL - Multi-Sector Opportunities Fund             | 811-22338         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Putnam Floating Rate Income Fund                               | 811-07513         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Putnam VT Small Cap Growth Fund                                | 811-05346         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Putnam International Value Fund                                | 811-07513         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| ClearBridge Growth Fund                                        | 811-06444         |
| ClearBridge International Value Fund                           | 811-06444         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin Mutual Small-Mid Cap Value Fund                       | 811-05878         |
| Putnam VT Sustainable Future Fund                              | 811-05346         |
| Templeton World Fund                                           | 811-02781         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Franklin DynaTech Fund                                         | 811-00537         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Putnam VT Focused International Equity Fund                    | 811-05346         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin Equity Income Fund                                    | 811-04986         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Putnam Sustainable Future Fund                                 | 811-07237         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Franklin Core Plus Bond Fund                                   | 811-06243         |
| Putnam VT Small Cap Value Fund                                 | 811-05346         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Franklin California Intermediate-Term Tax-Free Income Fund     | 811-04356         |
| Putnam Mortgage Opportunities Fund                             | 811-07513         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Putnam Ultra Short Duration Income Fund                        | 811-07513         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Western Asset Bond ETF                                         | 811-23124         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Franklin Mutual U.S. Mid Cap Value Fund                        | 811-05878         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin Growth Fund                                           | 811-00537         |
| Western Asset Managed Municipals 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: 13 - Franklin Connecticut Tax-Free Income Fund

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

- **a. Full Name of the Fund:** Franklin Connecticut Tax-Free Income Fund

- **b. Series identification number, if any:** S000006930

- **c. LEI:** 549300Q26QWL1VWSV188

- **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 C                 | C000018799                                | FCTIX                        |
|                           2 | Advisor Class           | C000079644                                | FCNZX                        |
|                           3 | Class R6                | C000194371                                | FCTQX                        |
|                           4 | Class A1                | C000018798                                | FXCTX                        |
|                           5 | Class A                 | C000205909                                | FQCTX                        |

**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'?** Yes

**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?** No

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

- Rule 17a-7 (17 CFR 270.17a-7)

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

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

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

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

**Pricing Services Record: 2**

- **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: 3**

- **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:** 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.**

No Brokers reported.

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

| Name                                | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| Wedbush Securities Inc.             | 8-12987           |    000000877 | 549300CSX55MXZ47EI78 | CA      | US        | $1,236,768.50             |
| RBC Capital Markets, LLC            | 8-45411           |    000031194 | 549300LCO2FLSSVFFR64 | NY      | US        | $9,535,487.65             |
| Oppenheimer & Co. Inc.              | 8-04077           |    000000249 | 254900VH02JQR2L8XD64 | NY      | US        | $2,792,466.00             |
| J.P. Morgan Securities LLC          | 8-35008           |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $15,853,877.33            |
| Wells Fargo Securities, LLC         | 8-65876           |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $2,560,138.34             |
| Loop Capital Markets LLC            | 8-50140           |    000043098 | 254900FPPM2WN90D4786 | IL      | US        | $2,775,878.00             |
| D.A. Davidson & Co.                 | 8-02399           |    000000199 | 549300094RQ5A7DYLF51 | MT      | US        | $2,067,218.00             |
| Barclays Capital, Inc.              | 8-41342           |    000019714 | AC28XWWI3WIBK2824319 | NY      | US        | $4,714,712.00             |
| Morgan Stanley & Co. LLC            | 8-15869           |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $4,245,200.00             |
| Jane Street Execution Services, LLC | 8-69254           |    000167280 | 549300HXJLXCPDWAH070 | NY      | US        | $1,913,175.01             |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $51,620,901.98

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

- **Item C.19.a - Fund's monthly average net assets:** $150,805,954.61

**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:** M&T BANK

  - **Line Institutions Record: 2 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 3 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 4 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 5 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 6 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 7 Name of institution:** DEUTSCHE BANK AG NEW YORK BRANCH

  - **Line Institutions Record: 8 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 9 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 10 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 11 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 12 Name of institution:** THE BANK OF NOVA SCOTIA HOUSTON BRANCH

  - **Line Institutions Record: 13 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 14 Name of institution:** THE TORONTO-DOMINION BANK NEW YORK BRANCH

  - **Line Institutions Record: 15 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 16 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 17 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   |
|:---|:---|
| Templeton Global Bond Fund                                     | 811-04706         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Franklin Mutual International Value Fund                       | 811-05387         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Putnam VT George Putnam Balanced Fund                          | 811-05346         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Franklin DynaTech Fund                                         | 811-00537         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Putnam Small Cap Growth Fund                                   | 811-07513         |
| Franklin Low Duration U.S. Government Securities Fund          | 811-04986         |
| Franklin Growth Fund                                           | 811-00537         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Putnam VT Income Fund                                          | 811-05346         |
| Putnam VT Sustainable Future Fund                              | 811-05346         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Franklin Mutual U.S. Mid Cap Value Fund                        | 811-05878         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin Templeton SMACS: Series C                             | 811-06243         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Putnam Ultra Short Duration Income Fund                        | 811-07513         |
| Putnam VT Global Asset Allocation Fund                         | 811-05346         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Franklin U.S. Small Capitalization Equity Fund                 | 811-22338         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Putnam VT Research Fund                                        | 811-05346         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Putnam U.S. Research Fund                                      | 811-07237         |
| Putnam International Equity Fund                               | 811-06190         |
| Putnam Core Equity Fund                                        | 811-07513         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Putnam Emerging Markets Equity Fund                            | 811-07513         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Franklin Templeton SMACS: Series CP                            | 811-06243         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Putnam Diversified Income Trust                                | 811-05635         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Putnam VT Diversified Income Fund                              | 811-05346         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin Utilities Fund                                        | 811-00537         |
| Putnam VT International Value Fund                             | 811-05346         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Putnam VT International Equity Fund                            | 811-05346         |
| BrandywineGLOBAL - Multi-Sector Opportunities Fund             | 811-22338         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Franklin Income Fund                                           | 811-00537         |
| Putnam Focused International Equity Fund                       | 811-01403         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Templeton Global Bond Enhanced Fund                            | 811-04706         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Franklin Managed Income Fund                                   | 811-04986         |
| Franklin International Growth Fund                             | 811-10157         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Putnam High Yield Fund                                         | 811-04616         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| ClearBridge Growth Fund                                        | 811-06444         |
| Putnam VT Small Cap Value Fund                                 | 811-05346         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| ClearBridge International Value Fund                           | 811-06444         |
| Putnam Large Cap Value Fund                                    | 811-02742         |
| Putnam Global Technology Fund                                  | 811-07513         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Putnam Dynamic Asset Allocation Growth Fund                    | 811-07121         |
| Franklin Alternative Strategies Fund                           | 811-22641         |
| International Equity Series                                    | 811-06135         |
| Putnam Convertible Securities Fund                             | 811-02280         |
| Foreign Smaller Companies Series                               | 811-06135         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Putnam Large Cap Growth Fund                                   | 811-07237         |
| Franklin Mutual Small-Mid Cap Value Fund                       | 811-05878         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Putnam VT Focused International Equity Fund                    | 811-05346         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Putnam Global Income Trust                                     | 811-04524         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Putnam Income Fund                                             | 811-00653         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Putnam VT Core Equity Fund                                     | 811-05346         |
| Putnam VT Emerging Markets Equity Fund                         | 811-05346         |
| ClearBridge Variable Growth Portfolio                          | 811-21128         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Putnam International Small Cap Fund                            | 811-07237         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| ClearBridge SMASh Series EM Fund                               | 811-22338         |
| Putnam Floating Rate Income Fund                               | 811-07513         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Putnam Sustainable Future Fund                                 | 811-07237         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Templeton World Fund                                           | 811-02781         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Putnam Dynamic Asset Allocation Equity Fund                    | 811-07513         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| ClearBridge Value Fund                                         | 811-22338         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin Senior Loan ETF                                       | 811-23124         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| George Putnam Balanced Fund                                    | 811-00058         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Putnam Small Cap Value Fund                                    | 811-07237         |
| Franklin High Yield Corporate ETF                              | 811-23124         |
| Franklin Long Duration Credit Fund                             | 811-04986         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Putnam VT Sustainable Leaders Fund                             | 811-05346         |
| Putnam Dynamic Asset Allocation Balanced Fund                  | 811-07121         |
| Franklin California Intermediate-Term Tax-Free Income Fund     | 811-04356         |
| Putnam Short Duration Bond Fund                                | 811-07513         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Western Asset Long Credit VIT                                  | 811-06310         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| ClearBridge International Growth Fund                          | 811-22338         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Western Asset Bond ETF                                         | 811-23124         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Putnam VT Small Cap Growth Fund                                | 811-05346         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Putnam Dynamic Asset Allocation Conservative Fund              | 811-07121         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Franklin High Income Fund                                      | 811-01608         |
| Putnam Global Health Care Fund                                 | 811-03386         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Putnam Mortgage Opportunities Fund                             | 811-07513         |
| Templeton Global Dynamic Income Fund                           | 811-08226         |
| Putnam Ultra Short MAC Series                                  | 811-07513         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Western Asset Income Fund                                      | 811-04254         |
| ClearBridge Emerging Markets Fund                              | 811-22338         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Putnam VT Large Cap Growth Fund                                | 811-05346         |
| Putnam VT Large Cap Value Fund                                 | 811-05346         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Putnam Focused Equity Fund                                     | 811-07513         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Putnam VT Global Health Care Fund                              | 811-05346         |
| Franklin Core Plus Bond Fund                                   | 811-06243         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Putnam International Value Fund                                | 811-07513         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Templeton Foreign Fund                                         | 811-02781         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Putnam VT Mortgage Securities Fund                             | 811-05346         |
| Putnam Mortgage Securities Fund                                | 811-03897         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Putnam Sustainable Leaders Fund                                | 811-06128         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Putnam Multi-Asset Income Fund                                 | 811-07121         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Putnam VT High Yield Fund                                      | 811-05346         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Putnam Core Bond Fund                                          | 811-07513         |
| Franklin Small-Mid Cap Growth Fund                             | 811-06243         |

- **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: 14 - Franklin Maryland Tax-Free Income Fund

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

- **a. Full Name of the Fund:** Franklin Maryland Tax-Free Income Fund

- **b. Series identification number, if any:** S000006917

- **c. LEI:** 5493004RAW8FG3PMDF33

- **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 C                 | C000018768                                | FMDIX                        |
|                           2 | Class A1                | C000018767                                | FMDTX                        |
|                           3 | Advisor Class           | C000079635                                | FMDZX                        |
|                           4 | Class R6                | C000194358                                | FMDQX                        |
|                           5 | Class A                 | C000205896                                | FQMDX                        |

**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?** No

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

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

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

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

- Rule 17a-7 (17 CFR 270.17a-7)

- 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:** 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

**Pricing Services Record: 2**

- **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: 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

- **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))

- **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 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: 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 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 ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| Morgan Stanley & Co. LLC     | 8-15869           |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $2,941,980.00             |
| BofA Securities, Inc.        | 8-69787           |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $70,644,705.25            |
| FMSBONDS, INC.               | 8-23280           |    000007793 | 549300TUTBK58NSF2517 | FL      | US        | $3,011,460.00             |
| Jefferies LLC                | 8-15074           |    000002347 | 58PU97L1C0WSRCWADL48 | NY      | US        | $5,948,250.00             |
| Janney Montgomery Scott LLC  | 8-00462           |    000000463 | 549300QQRY1JCFQHYS08 | PA      | US        | $3,832,320.00             |
| Truist Securities, Inc.      | 8-17212           |    000006271 | CSVTK36R0PNGXEM7NS14 | GA      | US        | $7,527,870.00             |
| Keybanc Capital Markets Inc. | 8-30177           |    000000566 | 2EQWV0180Z211YVAD813 | OH      | US        | $5,339,350.00             |
| J.P. Morgan Securities LLC   | 8-35008           |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $16,416,328.83            |
| Loop Capital Markets LLC     | 8-50140           |    000043098 | 254900FPPM2WN90D4786 | IL      | US        | $6,832,905.30             |
| Wells Fargo Securities, LLC  | 8-65876           |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $8,357,047.57             |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $133,073,589.95

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

- **Item C.19.a - Fund's monthly average net assets:** $318,370,266.30

**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:** CITIBANK, N.A.

  - **Line Institutions Record: 2 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 3 Name of institution:** STANDARD CHARTERED BANK

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

  - **Line Institutions Record: 5 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 6 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 7 Name of institution:** THE TORONTO-DOMINION BANK NEW YORK BRANCH

  - **Line Institutions Record: 8 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 9 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 10 Name of institution:** DEUTSCHE BANK AG NEW YORK BRANCH

  - **Line Institutions Record: 11 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 12 Name of institution:** M&T BANK

  - **Line Institutions Record: 13 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 14 Name of institution:** THE BANK OF NOVA SCOTIA HOUSTON BRANCH

  - **Line Institutions Record: 15 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 16 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 17 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

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

- **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: 15 - Franklin Louisiana Tax-Free Income Fund

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

- **a. Full Name of the Fund:** Franklin Louisiana Tax-Free Income Fund

- **b. Series identification number, if any:** S000006916

- **c. LEI:** 549300B01PP1PIPE6I55

- **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 R6                | C000194357                                | FLAQX                        |
|                           2 | Class A                 | C000205895                                | FQLAX                        |
|                           3 | Advisor Class           | C000173668                                | FLTZX                        |
|                           4 | Class A1                | C000018765                                | FKLAX                        |
|                           5 | Class C                 | C000018766                                | FLAIX                        |

**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?** No

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

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

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

- Rule 17a-7 (17 CFR 270.17a-7)

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

- 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:** 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: 2**

- **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:** 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.**

No Brokers reported.

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

| Name                                     | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| Wedbush Securities Inc.                  | 8-12987           |    000000877 | 549300CSX55MXZ47EI78 | CA      | US        | $5,758,430.00             |
| Morgan Stanley & Co. LLC                 | 8-15869           |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $5,130,755.00             |
| D.A. Davidson & Co.                      | 8-02399           |    000000199 | 549300094RQ5A7DYLF51 | MT      | US        | $3,172,110.00             |
| Jefferies LLC                            | 8-15074           |    000002347 | 58PU97L1C0WSRCWADL48 | NY      | US        | $3,034,890.00             |
| Stifel, Nicolaus & Company, Incorporated | 8-01447           |    000000793 | 5WUVMA08EYG4KEUPW589 | MO      | US        | $12,518,095.00            |
| J.P. Morgan Securities LLC               | 8-35008           |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $4,855,695.00             |
| Tradeweb Direct LLC                      | 8-52278           |    000103787 | 549300MII67ES5YBJH61 | NY      | US        | $9,010,803.30             |
| TD SECURITIES (USA) LLC                  | 8-36747           |    000018476 | SUVUFHICNZMP2WKHG940 | NY      | US        | $7,204,232.00             |
| Raymond James & Associates, Inc.         | 8-10999           |    000000705 | U4ONQX15J3RO8XCKE979 | FL      | US        | $4,512,729.00             |
| BofA Securities, Inc.                    | 8-69787           |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $6,367,562.50             |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $71,509,512.84

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

- **Item C.19.a - Fund's monthly average net assets:** $225,440,887.33

**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:** BARCLAYS BANK PLC

  - **Line Institutions Record: 2 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 3 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 4 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 5 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 6 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 7 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 8 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 9 Name of institution:** DEUTSCHE BANK AG NEW YORK BRANCH

  - **Line Institutions Record: 10 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 11 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 12 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 13 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 14 Name of institution:** THE TORONTO-DOMINION BANK NEW YORK BRANCH

  - **Line Institutions Record: 15 Name of institution:** M&T BANK

  - **Line Institutions Record: 16 Name of institution:** THE BANK OF NOVA SCOTIA HOUSTON BRANCH

  - **Line Institutions Record: 17 Name of institution:** BANK OF AMERICA, 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 Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Putnam VT Large Cap Value Fund                                 | 811-05346         |
| Putnam VT Global Health Care Fund                              | 811-05346         |
| Franklin Mutual International Value Fund                       | 811-05387         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Putnam VT Focused International Equity Fund                    | 811-05346         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Putnam Diversified Income Trust                                | 811-05635         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Putnam Small Cap Growth Fund                                   | 811-07513         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Putnam International Equity Fund                               | 811-06190         |
| Franklin Long Duration Credit Fund                             | 811-04986         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Putnam Dynamic Asset Allocation Conservative Fund              | 811-07121         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Putnam VT Sustainable Leaders Fund                             | 811-05346         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Franklin Mutual Small-Mid Cap Value Fund                       | 811-05878         |
| Putnam High Yield Fund                                         | 811-04616         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| ClearBridge SMASh Series EM Fund                               | 811-22338         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Putnam VT Global Asset Allocation Fund                         | 811-05346         |
| Putnam International Value Fund                                | 811-07513         |
| Putnam Floating Rate Income Fund                               | 811-07513         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Franklin Senior Loan ETF                                       | 811-23124         |
| Putnam VT Small Cap Growth Fund                                | 811-05346         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Franklin Growth Fund                                           | 811-00537         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Franklin Global Equity Fund                                    | 811-06444         |
| ClearBridge Emerging Markets Fund                              | 811-22338         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| George Putnam Balanced Fund                                    | 811-00058         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Franklin Low Duration U.S. Government Securities Fund          | 811-04986         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Putnam VT International Equity Fund                            | 811-05346         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| International Equity Series                                    | 811-06135         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Franklin U.S. Small Capitalization Equity Fund                 | 811-22338         |
| Western Asset Long Credit VIT                                  | 811-06310         |
| Putnam Sustainable Leaders Fund                                | 811-06128         |
| Franklin High Yield Corporate ETF                              | 811-23124         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Putnam Income Fund                                             | 811-00653         |
| Franklin Core Plus Bond Fund                                   | 811-06243         |
| ClearBridge Value Fund                                         | 811-22338         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Putnam VT Income Fund                                          | 811-05346         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Putnam VT Emerging Markets Equity Fund                         | 811-05346         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin Mutual U.S. Mid Cap Value Fund                        | 811-05878         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Western Asset Income Fund                                      | 811-04254         |
| Franklin High Income Fund                                      | 811-01608         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin Income Fund                                           | 811-00537         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Putnam Global Technology Fund                                  | 811-07513         |
| Putnam Multi-Asset Income Fund                                 | 811-07121         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Putnam Convertible Securities Fund                             | 811-02280         |
| Putnam Mortgage Securities Fund                                | 811-03897         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Putnam Sustainable Future Fund                                 | 811-07237         |
| Putnam Dynamic Asset Allocation Growth Fund                    | 811-07121         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Putnam International Small Cap Fund                            | 811-07237         |
| Franklin Templeton SMACS: Series CP                            | 811-06243         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Putnam Mortgage Opportunities Fund                             | 811-07513         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Putnam VT International Value Fund                             | 811-05346         |
| Putnam Dynamic Asset Allocation Equity Fund                    | 811-07513         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Putnam Global Health Care Fund                                 | 811-03386         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Templeton Global Bond Enhanced Fund                            | 811-04706         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Putnam Focused Equity Fund                                     | 811-07513         |
| Putnam VT Small Cap Value Fund                                 | 811-05346         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Templeton Foreign Fund                                         | 811-02781         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Putnam Large Cap Value Fund                                    | 811-02742         |
| Putnam VT Sustainable Future Fund                              | 811-05346         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Putnam VT Research Fund                                        | 811-05346         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Putnam Large Cap Growth Fund                                   | 811-07237         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin Alternative Strategies Fund                           | 811-22641         |
| Putnam VT High Yield Fund                                      | 811-05346         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Putnam VT Large Cap Growth Fund                                | 811-05346         |
| Franklin California Intermediate-Term Tax-Free Income Fund     | 811-04356         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Putnam VT Core Equity Fund                                     | 811-05346         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin Small-Mid Cap Growth Fund                             | 811-06243         |
| Franklin Managed Income Fund                                   | 811-04986         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Putnam VT George Putnam Balanced Fund                          | 811-05346         |
| Franklin Templeton SMACS: Series C                             | 811-06243         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Putnam Short Duration Bond Fund                                | 811-07513         |
| Templeton World Fund                                           | 811-02781         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Putnam Focused International Equity Fund                       | 811-01403         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Putnam VT Mortgage Securities Fund                             | 811-05346         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| BrandywineGLOBAL - Multi-Sector Opportunities Fund             | 811-22338         |
| Putnam Core Bond Fund                                          | 811-07513         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Putnam Emerging Markets Equity Fund                            | 811-07513         |
| Putnam Core Equity Fund                                        | 811-07513         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| ClearBridge Variable Growth Portfolio                          | 811-21128         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Putnam Ultra Short MAC Series                                  | 811-07513         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Putnam Small Cap Value Fund                                    | 811-07237         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| ClearBridge Growth Fund                                        | 811-06444         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Putnam Global Income Trust                                     | 811-04524         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Western Asset Bond ETF                                         | 811-23124         |
| Putnam Ultra Short Duration Income Fund                        | 811-07513         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Putnam Dynamic Asset Allocation Balanced Fund                  | 811-07121         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Franklin DynaTech Fund                                         | 811-00537         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Putnam VT Diversified Income Fund                              | 811-05346         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Templeton Global Dynamic Income Fund                           | 811-08226         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin Utilities Fund                                        | 811-00537         |
| Putnam U.S. Research Fund                                      | 811-07237         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| ClearBridge International Value Fund                           | 811-06444         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Templeton Global Bond 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: 16 - Franklin Federal Intermediate-Term Tax-Free Income Fund

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

- **a. Full Name of the Fund:** Franklin Federal Intermediate-Term Tax-Free Income Fund

- **b. Series identification number, if any:** S000006932

- **c. LEI:** 549300EKU3ZFFWEI1I28

- **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 C                 | C000018803                                | FCITX                        |
|                           2 | Class R6                | C000194372                                | FITQX                        |
|                           3 | Class A                 | C000205910                                | FKQTX                        |
|                           4 | Advisor Class           | C000074134                                | FITZX                        |
|                           5 | Class A1                | C000018802                                | FKITX                        |

**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?** No

- **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(c)(4) (17CFR 270.18f-4(c)(4))

- Rule 17a-7 (17 CFR 270.17a-7)

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

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

- Rule 12d1-4 (17 CFR 270.12d1-4)

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

**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:** 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:** 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: 3**

- **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))

- **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 ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| Raymond James & Associates, Inc. | 8-10999           |    000000705 | U4ONQX15J3RO8XCKE979 | FL      | US        | $87,617,763.85            |
| Goldman Sachs & Co. LLC          | 8-00129           |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $90,588,685.05            |
| Barclays Capital, Inc.           | 8-41342           |    000019714 | AC28XWWI3WIBK2824319 | NY      | US        | $136,994,282.90           |
| BofA Securities, Inc.            | 8-69787           |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $70,837,742.40            |
| Jefferies LLC                    | 8-15074           |    000002347 | 58PU97L1C0WSRCWADL48 | NY      | US        | $119,521,805.90           |
| Morgan Stanley & Co. LLC         | 8-15869           |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $44,727,221.35            |
| U.S. Bancorp Investments, Inc.   | 8-35359           |    000017868 | H85Z6XZP8B10ES0M2G89 | MN      | US        | $59,400,000.00            |
| Wells Fargo Securities, LLC      | 8-65876           |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $124,667,722.05           |
| Truist Securities, Inc.          | 8-17212           |    000006271 | CSVTK36R0PNGXEM7NS14 | GA      | US        | $87,122,199.05            |
| RBC Capital Markets, LLC         | 8-45411           |    000031194 | 549300LCO2FLSSVFFR64 | NY      | US        | $120,378,005.55           |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $1,285,726,677.97

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

- **Item C.19.a - Fund's monthly average net assets:** $2,036,595,157.43

**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:** THE BANK OF NOVA SCOTIA HOUSTON BRANCH

  - **Line Institutions Record: 2 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 3 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 4 Name of institution:** DEUTSCHE BANK AG NEW YORK BRANCH

  - **Line Institutions Record: 5 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 6 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 7 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 8 Name of institution:** M&T BANK

  - **Line Institutions Record: 9 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 10 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 11 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 12 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 13 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 14 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 15 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 16 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 17 Name of institution:** THE TORONTO-DOMINION BANK NEW YORK BRANCH

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

- **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: 17 - Franklin Georgia Tax-Free Income Fund

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

- **a. Full Name of the Fund:** Franklin Georgia Tax-Free Income Fund

- **b. Series identification number, if any:** S000006912

- **c. LEI:** 54930086ME0CMZ6PHE73

- **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 A1                | C000018755                                | FTGAX                        |
|                           2 | Class R6                | C000194354                                | FGFQX                        |
|                           3 | Class C                 | C000018756                                | FGAIX                        |
|                           4 | Advisor Class           | C000173666                                | FGFZX                        |
|                           5 | Class A                 | C000205893                                | FGAQX                        |

**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?** No

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

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

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

- Rule 17a-7 (17 CFR 270.17a-7)

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

- Rule 22d-1 (17 CFR 270.22d-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:** 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: 2**

- **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:** 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 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.**

No Brokers reported.

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

| Name                              | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| Raymond James & Associates, Inc.  | 8-10999           |    000000705 | U4ONQX15J3RO8XCKE979 | FL      | US        | $5,003,810.00             |
| Samuel A. Ramirez & Company, Inc. | 8-19014           |    000006963 | 254900CBKVW7O2ENQA21 | NY      | US        | $8,138,800.00             |
| BofA Securities, Inc.             | 8-69787           |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $18,749,660.35            |
| RBC Capital Markets, LLC          | 8-45411           |    000031194 | 549300LCO2FLSSVFFR64 | NY      | US        | $6,221,320.00             |
| Janney Montgomery Scott LLC       | 8-00462           |    000000463 | 549300QQRY1JCFQHYS08 | PA      | US        | $2,033,440.00             |
| Estrada Hinojosa & Company, Inc.  | 8-61971           |    000019299 | N/A                  | TX      | US        | $4,372,425.00             |
| Wells Fargo Securities, LLC       | 8-65876           |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $7,579,743.71             |
| Loop Capital Markets LLC          | 8-50140           |    000043098 | 254900FPPM2WN90D4786 | IL      | US        | $3,953,046.50             |
| Truist Securities, Inc.           | 8-17212           |    000006271 | CSVTK36R0PNGXEM7NS14 | GA      | US        | $12,800,000.00            |
| UBS Securities LLC                | 8-22651           |    000007654 | T6FIZBDPKLYJKFCRVK44 | NY      | US        | $3,041,700.00             |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $80,130,328.66

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

- **Item C.19.a - Fund's monthly average net assets:** $275,232,890.88

**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:** WELLS FARGO BANK, NATIONAL ASSOCIATION

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

  - **Line Institutions Record: 3 Name of institution:** M&T BANK

  - **Line Institutions Record: 4 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 5 Name of institution:** THE TORONTO-DOMINION BANK NEW YORK BRANCH

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

  - **Line Institutions Record: 7 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 8 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 9 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 10 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 11 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 12 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 13 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 14 Name of institution:** DEUTSCHE BANK AG NEW YORK BRANCH

  - **Line Institutions Record: 15 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 16 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 17 Name of institution:** THE BANK OF NOVA SCOTIA HOUSTON BRANCH

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

### Management Investment Record: 18 - Franklin Minnesota Tax-Free Income Fund

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

- **a. Full Name of the Fund:** Franklin Minnesota Tax-Free Income Fund

- **b. Series identification number, if any:** S000006920

- **c. LEI:** 549300O8GXDN7BOGD980

- **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 C                 | C000018775                                | FMNIX                        |
|                           2 | Class A1                | C000018774                                | FMINX                        |
|                           3 | Class A                 | C000205899                                | FMNQX                        |
|                           4 | Class R6                | C000194361                                | FKTDX                        |
|                           5 | Advisor Class           | C000079637                                | FMNZX                        |

**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?** No

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

- Rule 17a-7 (17 CFR 270.17a-7)

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

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

**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:** 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:** 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 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 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 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

**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 ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| Wells Fargo Securities, LLC        | 8-65876           |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $5,429,367.45             |
| Piper Sandler & Co.                | 8-15204           |    000000665 | 549300GRQCWQ3XGH0H10 | MN      | US        | $2,770,343.80             |
| Northland Securities, Inc.         | 8-48994           |    000040258 | 254900ZIK4MLVQAWLS15 | MN      | US        | $19,466,459.70            |
| J.P. Morgan Securities LLC         | 8-35008           |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $3,238,586.00             |
| ROBERT W. BAIRD & CO. INCORPORATED | 8-00497           |    000008158 | 549300772UJAHRD6LO53 | WI      | US        | $5,786,318.60             |
| Belle Haven Investments, L.P.      | 8-44222           |    000029278 | N/A                  | NY      | US        | $2,653,233.00             |
| Barclays Capital, Inc.             | 8-41342           |    000019714 | AC28XWWI3WIBK2824319 | NY      | US        | $15,650,000.00            |
| Mesirow Financial, Inc.            | 8-28816           |    000002764 | 549300BIV46SUHPOFE54 | IL      | US        | $4,013,430.00             |
| RBC Capital Markets, LLC           | 8-45411           |    000031194 | 549300LCO2FLSSVFFR64 | NY      | US        | $17,771,685.30            |
| BofA Securities, Inc.              | 8-69787           |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $16,454,150.60            |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $106,636,664.45

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

- **Item C.19.a - Fund's monthly average net assets:** $624,055,585.45

**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:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 2 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 3 Name of institution:** CITIBANK, N.A.

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

  - **Line Institutions Record: 5 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 6 Name of institution:** M&T BANK

  - **Line Institutions Record: 7 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 8 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 9 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 10 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 11 Name of institution:** DEUTSCHE BANK AG NEW YORK BRANCH

  - **Line Institutions Record: 12 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 13 Name of institution:** THE TORONTO-DOMINION BANK NEW YORK BRANCH

  - **Line Institutions Record: 14 Name of institution:** THE BANK OF NOVA SCOTIA HOUSTON BRANCH

  - **Line Institutions Record: 15 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 16 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 17 Name of institution:** ROYAL BANK OF CANADA

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

- **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: 19 - Franklin New Jersey Tax-Free Income Fund

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

- **a. Full Name of the Fund:** Franklin New Jersey Tax-Free Income Fund

- **b. Series identification number, if any:** S000006923

- **c. LEI:** 5493002I0DFST576NS47

- **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 | Advisor Class           | C000068551                                | FNJZX                        |
|                           2 | Class A1                | C000018781                                | FRNJX                        |
|                           3 | Class R6                | C000194364                                | FNJRX                        |
|                           4 | Class C                 | C000018783                                | FNIIX                        |
|                           5 | Class A                 | C000205902                                | FNJQX                        |

**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?** No

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

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

- Rule 17a-7 (17 CFR 270.17a-7)

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

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

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

**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:** 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:** S&P Global Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** Y6X4K52KMJMZE7I7MY94

- **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: 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))

- **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 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: 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 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

**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:** 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:** $1,020.40

**Aggregate Commission:** $1,020.40

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

| Name                              | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| BofA Securities, Inc.             | 8-69787           |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $6,891,076.50             |
| J.P. Morgan Securities LLC        | 8-35008           |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $66,636,230.95            |
| Morgan Stanley & Co. LLC          | 8-15869           |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $27,036,304.45            |
| Goldman Sachs & Co. LLC           | 8-00129           |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $12,475,472.40            |
| FMSBONDS, INC.                    | 8-23280           |    000007793 | 549300TUTBK58NSF2517 | FL      | US        | $14,606,640.00            |
| Barclays Capital, Inc.            | 8-41342           |    000019714 | AC28XWWI3WIBK2824319 | NY      | US        | $13,353,655.00            |
| RBC Capital Markets, LLC          | 8-45411           |    000031194 | 549300LCO2FLSSVFFR64 | NY      | US        | $52,501,163.25            |
| Raymond James & Associates, Inc.  | 8-10999           |    000000705 | U4ONQX15J3RO8XCKE979 | FL      | US        | $7,515,930.00             |
| Samuel A. Ramirez & Company, Inc. | 8-19014           |    000006963 | 254900CBKVW7O2ENQA21 | NY      | US        | $9,223,208.00             |
| Wells Fargo Securities, LLC       | 8-65876           |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $32,035,844.56            |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $277,607,266.07

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

- **Item C.19.a - Fund's monthly average net assets:** $794,841,864.94

**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:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 2 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 3 Name of institution:** M&T BANK

  - **Line Institutions Record: 4 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 5 Name of institution:** THE TORONTO-DOMINION BANK NEW YORK BRANCH

  - **Line Institutions Record: 6 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 7 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 8 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 9 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 10 Name of institution:** DEUTSCHE BANK AG NEW YORK BRANCH

  - **Line Institutions Record: 11 Name of institution:** THE BANK OF NOVA SCOTIA HOUSTON BRANCH

  - **Line Institutions Record: 12 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 13 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 14 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 15 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 16 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 17 Name of institution:** UMB 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   |
|:---|:---|
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Templeton Global Bond Enhanced Fund                            | 811-04706         |
| Putnam Small Cap Growth Fund                                   | 811-07513         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Putnam High Yield Fund                                         | 811-04616         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Putnam VT Mortgage Securities Fund                             | 811-05346         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Putnam Small Cap Value Fund                                    | 811-07237         |
| Putnam Focused International Equity Fund                       | 811-01403         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Putnam Dynamic Asset Allocation Equity Fund                    | 811-07513         |
| Putnam International Small Cap Fund                            | 811-07237         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Franklin Alternative Strategies Fund                           | 811-22641         |
| Franklin Templeton SMACS: Series CP                            | 811-06243         |
| Franklin High Income Fund                                      | 811-01608         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Franklin U.S. Small Capitalization Equity Fund                 | 811-22338         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Franklin Long Duration Credit Fund                             | 811-04986         |
| Putnam Emerging Markets Equity Fund                            | 811-07513         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Putnam Large Cap Value Fund                                    | 811-02742         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Putnam Core Equity Fund                                        | 811-07513         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Putnam Core Bond Fund                                          | 811-07513         |
| Franklin California Intermediate-Term Tax-Free Income Fund     | 811-04356         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Putnam Mortgage Securities Fund                                | 811-03897         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Franklin Senior Loan ETF                                       | 811-23124         |
| BrandywineGLOBAL - Multi-Sector Opportunities Fund             | 811-22338         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Putnam Dynamic Asset Allocation Balanced Fund                  | 811-07121         |
| Putnam VT International Equity Fund                            | 811-05346         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Putnam International Value Fund                                | 811-07513         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Putnam Multi-Asset Income Fund                                 | 811-07121         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Western Asset Bond ETF                                         | 811-23124         |
| Putnam Ultra Short Duration Income Fund                        | 811-07513         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Putnam Sustainable Future Fund                                 | 811-07237         |
| Putnam VT Small Cap Growth Fund                                | 811-05346         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Putnam VT Emerging Markets Equity Fund                         | 811-05346         |
| Putnam Diversified Income Trust                                | 811-05635         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Western Asset Income Fund                                      | 811-04254         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin DynaTech Fund                                         | 811-00537         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Putnam Global Technology Fund                                  | 811-07513         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Putnam Global Health Care Fund                                 | 811-03386         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Putnam Ultra Short MAC Series                                  | 811-07513         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Putnam VT Research Fund                                        | 811-05346         |
| Franklin Managed Income Fund                                   | 811-04986         |
| Putnam VT International Value Fund                             | 811-05346         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| George Putnam Balanced Fund                                    | 811-00058         |
| Putnam VT Large Cap Value Fund                                 | 811-05346         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Putnam Sustainable Leaders Fund                                | 811-06128         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Putnam VT Income Fund                                          | 811-05346         |
| Franklin Templeton SMACS: Series C                             | 811-06243         |
| Franklin Mutual U.S. Mid Cap Value Fund                        | 811-05878         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Templeton Global Dynamic Income Fund                           | 811-08226         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Putnam Focused Equity Fund                                     | 811-07513         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Putnam Mortgage Opportunities Fund                             | 811-07513         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| ClearBridge SMASh Series EM Fund                               | 811-22338         |
| Putnam Income Fund                                             | 811-00653         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Putnam International Equity Fund                               | 811-06190         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Franklin Low Duration U.S. Government Securities Fund          | 811-04986         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Putnam Short Duration Bond Fund                                | 811-07513         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Putnam VT Diversified Income Fund                              | 811-05346         |
| Putnam VT Sustainable Leaders Fund                             | 811-05346         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Putnam VT Core Equity Fund                                     | 811-05346         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Putnam VT Large Cap Growth Fund                                | 811-05346         |
| Templeton World Fund                                           | 811-02781         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Putnam VT High Yield Fund                                      | 811-05346         |
| Putnam Convertible Securities Fund                             | 811-02280         |
| Franklin Core Plus Bond Fund                                   | 811-06243         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin High Yield Corporate ETF                              | 811-23124         |
| Putnam VT Global Health Care Fund                              | 811-05346         |
| Templeton Foreign Fund                                         | 811-02781         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Putnam VT Global Asset Allocation Fund                         | 811-05346         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Putnam Floating Rate Income Fund                               | 811-07513         |
| Putnam Dynamic Asset Allocation Growth Fund                    | 811-07121         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| International Equity Series                                    | 811-06135         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Putnam U.S. Research Fund                                      | 811-07237         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| ClearBridge Variable Growth Portfolio                          | 811-21128         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Western Asset Long Credit VIT                                  | 811-06310         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin Income Fund                                           | 811-00537         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| ClearBridge International Value Fund                           | 811-06444         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Franklin Mutual International Value Fund                       | 811-05387         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Franklin International Growth Fund                             | 811-10157         |
| Putnam VT Sustainable Future Fund                              | 811-05346         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Putnam Large Cap Growth Fund                                   | 811-07237         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Franklin Growth Fund                                           | 811-00537         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| ClearBridge Growth Fund                                        | 811-06444         |
| Putnam Dynamic Asset Allocation Conservative Fund              | 811-07121         |
| Franklin Small-Mid Cap Growth Fund                             | 811-06243         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| ClearBridge Emerging Markets Fund                              | 811-22338         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Putnam VT Focused International Equity Fund                    | 811-05346         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| ClearBridge Value Fund                                         | 811-22338         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Putnam VT Small Cap Value Fund                                 | 811-05346         |
| Franklin Mutual Small-Mid Cap Value Fund                       | 811-05878         |
| Putnam VT George Putnam Balanced Fund                          | 811-05346         |
| Putnam Global Income Trust                                     | 811-04524         |

- **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: 20 - Franklin Alabama Tax-Free Income Fund

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

- **a. Full Name of the Fund:** Franklin Alabama Tax-Free Income Fund

- **b. Series identification number, if any:** S000006911

- **c. LEI:** 54930054I1F62XK86784

- **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 A1                | C000018753                                | FRALX                        |
|                           2 | Class R6                | C000194353                                | FALRX                        |
|                           3 | Advisor Class           | C000173665                                | FALZX                        |
|                           4 | Class C                 | C000018754                                | FALEX                        |
|                           5 | Class A                 | C000205892                                | FALQX                        |

**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?** No

- **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 17a-7 (17 CFR 270.17a-7)

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

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

- 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:** 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:** 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: 2**

- **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:** 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 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: 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 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 ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| Piper Sandler & Co.                      | 8-15204           |    000000665 | 549300GRQCWQ3XGH0H10 | MN      | US        | $9,071,110.00             |
| Raymond James & Associates, Inc.         | 8-10999           |    000000705 | U4ONQX15J3RO8XCKE979 | FL      | US        | $4,546,300.00             |
| J.P. Morgan Securities LLC               | 8-35008           |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $4,141,895.00             |
| Wells Fargo Securities, LLC              | 8-65876           |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $5,813,043.13             |
| Carty & Company, Inc.                    | 8-19082           |    000007001 | 2549004VW1160A0HAR55 | TN      | US        | $2,557,200.00             |
| Stifel, Nicolaus & Company, Incorporated | 8-01447           |    000000793 | 5WUVMA08EYG4KEUPW589 | MO      | US        | $3,409,627.00             |
| FMSBONDS, INC.                           | 8-23280           |    000007793 | 549300TUTBK58NSF2517 | FL      | US        | $6,001,650.00             |
| Morgan Stanley & Co. LLC                 | 8-15869           |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $2,348,508.00             |
| BofA Securities, Inc.                    | 8-69787           |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $5,678,500.00             |
| RBC Capital Markets, LLC                 | 8-45411           |    000031194 | 549300LCO2FLSSVFFR64 | NY      | US        | $3,740,492.00             |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $55,515,197.63

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

- **Item C.19.a - Fund's monthly average net assets:** $170,335,411.42

**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:** THE TORONTO-DOMINION BANK NEW YORK BRANCH

  - **Line Institutions Record: 2 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 3 Name of institution:** DEUTSCHE BANK AG NEW YORK BRANCH

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

  - **Line Institutions Record: 5 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 6 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 7 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 8 Name of institution:** MORGAN STANLEY BANK, N.A.

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

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

  - **Line Institutions Record: 11 Name of institution:** THE BANK OF NOVA SCOTIA HOUSTON BRANCH

  - **Line Institutions Record: 12 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 13 Name of institution:** M&T BANK

  - **Line Institutions Record: 14 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 15 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 16 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 17 Name of institution:** GOLDMAN SACHS BANK USA

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

- **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 Tax Free Trust

**Date:** 2026-02-28

**Signature:** Monica Krogh

**Title:** Assistant Treasurer