# EDGAR Filing Document

**Accession Number:** 0000856119
**File Stem:** 0001752724-25-153748
**Filing Date:** 2025-6
**Character Count:** 31224
**Document Hash:** 67b6c7a8e2ae54f38da3a839630253bd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-153748.hdr.sgml**: 20250624

**ACCESSION NUMBER**: 0001752724-25-153748

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250624

**DATE AS OF CHANGE**: 20250624

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FRANKLIN VALUE INVESTORS TRUST
- **CENTRAL INDEX KEY:** 0000856119

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05878
- **FILM NUMBER:** 251068710

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

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRANKLIN BALANCE SHEET INVESTMENT FUND
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### FRANKLIN SMALL CAP VALUE FUND (Series ID: S000007356)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000020203 | CLASS A       | FRVLX           |
| C000020205 | CLASS C       | FRVFX           |
| C000020206 | CLASS R       | FVFRX           |
| C000020207 | ADVISOR CLASS | FVADX           |
| C000128827 | Class R6      | FRCSX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Franklin Value Investors Trust

- **b. Investment Company Act file number:** 811-05878

- **c. CIK number of Registrant:** 0000856119

- **d. LEI of Registrant:** 549300RD0PTCJOMRSV24

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

  - **Street Address 1:** One Franklin Parkway

  - **City:** San Mateo

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94403-1906

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

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

- **a. Name of Series:** Franklin Small Cap Value Fund

- **b. EDGAR series identifier (if any):** S000007356

- **c. LEI of Series:** 5493008L8BP00V1G7510

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-04-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $3478335946.65

**Total Liabilities:** $3414324.14

**Net Assets:** $3474921622.51

**Cash Not Reported:** $1418562.35

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000020207 | -1.28%               | -7.44%               | -4.68%               |
| Class ID C000020203 | -1.29%               | -7.46%               | -4.69%               |
| Class ID C000020205 | -1.35%               | -7.52%               | -4.75%               |
| Class ID C000020206 | -1.31%               | -7.48%               | -4.72%               |
| Class ID C000128827 | -1.27%               | -7.44%               | -4.66%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $21173412.30             | $-85486850.01                              |
| Month 2  | $35374907.99             | $-341592821.74                             |
| Month 3  | $-24212428.86            | $-150057391.01                             |

### Schedule of Portfolio Investments

| Name                                                   | Title                                                  | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Crocs, Inc.                                            | Crocs, Inc.                                            | CUSIP: 227046109<br>LEI: 549300B0J6YCXD63OG72 | Long             | EC               | CORP              | US        |    132551 | NS      | $12780567.42  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Louisiana-Pacific Corp.                                | Louisiana-Pacific Corp.                                | CUSIP: 546347105<br>LEI: 549300C7E2UAO5BVRR75 | Long             | EC               | CORP              | US        |    164387 | NS      | $14188241.97  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| TriCo Bancshares                                       | TriCo Bancshares                                       | CUSIP: 896095106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1067509 | NS      | $41184497.22  | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Meritage Homes Corp.                                   | Meritage Homes Corp.                                   | CUSIP: 59001A102<br>LEI: 52990044W9UMFJO2FB97 | Long             | EC               | CORP              | US        |    332830 | NS      | $22679036.20  | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Camden National Corp.                                  | Camden National Corp.                                  | CUSIP: 133034108<br>LEI: 549300ZVEDL2L8UW4F28 | Long             | EC               | CORP              | US        |    932821 | NS      | $35932264.92  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC plc                                         | TechnipFMC plc                                         | CUSIP: N/A<br>LEI: 549300D5I93QWCJTCK36       | Long             | EC               | CORP              | GB        |     83768 | NS      | $2359744.56   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Hunting plc                                            | Hunting plc                                            | CUSIP: N/A<br>LEI: 2138008S5FL78ITZRN66       | Long             | EC               | CORP              | GB        |   8336241 | NS      | $28763208.10  | 0.83%             |  |  |  | No            |                  2 | On Loan: No      |
| Babcock International Group plc                        | Babcock International Group plc                        | CUSIP: N/A<br>LEI: 213800TSKOLX4EU6L377       | Long             | EC               | CORP              | GB        |   4959398 | NS      | $53426520.95  | 1.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Mueller Water Products, Inc.                           | Mueller Water Products, Inc., Class A                  | CUSIP: 624758108<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | EC               | CORP              | US        |   2531015 | NS      | $66413833.60  | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| McGrath RentCorp                                       | McGrath RentCorp                                       | CUSIP: 580589109<br>LEI: 254900EUH6IPWFQ83445 | Long             | EC               | CORP              | US        |    634545 | NS      | $67686915.15  | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Middleby Corp. (The)                                   | Middleby Corp. (The)                                   | CUSIP: 596278101<br>LEI: JDFO86U9VQRBKW5KYA35 | Long             | EC               | CORP              | US        |    302945 | NS      | $40397715.75  | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Taylor Morrison Home Corp.                             | Taylor Morrison Home Corp., Class A                    | CUSIP: 87724P106<br>LEI: 5299009UDLLGLKOOJE30 | Long             | EC               | CORP              | US        |    547310 | NS      | $31388228.50  | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| RXO, Inc.                                              | RXO, Inc.                                              | CUSIP: 74982T103<br>LEI: 549300KL8CA6GP8XPM30 | Long             | EC               | CORP              | US        |    702186 | NS      | $9893800.74   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Knight-Swift Transportation Holdings, Inc.             | Knight-Swift Transportation Holdings, Inc., Class A    | CUSIP: 499049104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1131421 | NS      | $44317760.57  | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| La-Z-Boy, Inc.                                         | La-Z-Boy, Inc.                                         | CUSIP: 505336107<br>LEI: 549300WNO1WMN9ZG2519 | Long             | EC               | CORP              | US        |    227877 | NS      | $9001141.50   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Victory Capital Holdings, Inc.                         | Victory Capital Holdings, Inc., Class A                | CUSIP: 92645B103<br>LEI: 549300BN5LH2CIPPHS71 | Long             | EC               | CORP              | US        |   1414383 | NS      | $81030002.07  | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Regal Rexnord Corp.                                    | Regal Rexnord Corp.                                    | CUSIP: 758750103<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | EC               | CORP              | US        |    293717 | NS      | $31087007.28  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| HNI Corp.                                              | HNI Corp.                                              | CUSIP: 404251100<br>LEI: 549300SKRADLC4O5HV93 | Long             | EC               | CORP              | US        |    431498 | NS      | $18252365.40  | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Ashland, Inc.                                          | Ashland, Inc.                                          | CUSIP: 044186104<br>LEI: 529900E4L9R04SB8HB11 | Long             | EC               | CORP              | US        |     53030 | NS      | $2884301.70   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Horace Mann Educators Corp.                            | Horace Mann Educators Corp.                            | CUSIP: 440327104<br>LEI: 254900G5YAV3A2YK8T32 | Long             | EC               | CORP              | US        |   2267869 | NS      | $94207278.26  | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Mattel, Inc.                                           | Mattel, Inc.                                           | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Long             | EC               | CORP              | US        |   5145065 | NS      | $81755082.85  | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Brunswick Corp.                                        | Brunswick Corp.                                        | CUSIP: 117043109<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | EC               | CORP              | US        |    103534 | NS      | $4767740.70   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| UFP Industries, Inc.                                   | UFP Industries, Inc.                                   | CUSIP: 90278Q108<br>LEI: 5493007KB485C9OV5572 | Long             | EC               | CORP              | US        |    820709 | NS      | $81127084.65  | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Chart Industries, Inc.                                 | Chart Industries, Inc.                                 | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | EC               | CORP              | US        |    680047 | NS      | $91792744.06  | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| First Commonwealth Financial Corp.                     | First Commonwealth Financial Corp.                     | CUSIP: 319829107<br>LEI: 549300ZHLQ42NXDETL24 | Long             | EC               | CORP              | US        |   2414952 | NS      | $36997064.64  | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryerson Holding Corp.                                  | Ryerson Holding Corp.                                  | CUSIP: 783754104<br>LEI: 549300JMA41B3ZHOVE45 | Long             | EC               | CORP              | US        |   1777173 | NS      | $41550304.74  | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Seacoast Banking Corp. of Florida                      | Seacoast Banking Corp. of Florida                      | CUSIP: 811707801<br>LEI: 549300V6IC06XYQYPG88 | Long             | EC               | CORP              | US        |   1520162 | NS      | $36043041.02  | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Gap, Inc. (The)                                        | Gap, Inc. (The)                                        | CUSIP: 364760108<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | EC               | CORP              | US        |   1598992 | NS      | $35017924.80  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CNO Financial Group, Inc.                              | CNO Financial Group, Inc.                              | CUSIP: 12621E103<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | EC               | CORP              | US        |   2563667 | NS      | $97265525.98  | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |
| American Woodmark Corp.                                | American Woodmark Corp.                                | CUSIP: 030506109<br>LEI: 5299007PFSDWMA74RB56 | Long             | EC               | CORP              | US        |    220907 | NS      | $13033513.00  | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| First Bancorp                                          | First Bancorp                                          | CUSIP: 318910106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1418443 | NS      | $57390203.78  | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| SouthState Corp.                                       | SouthState Corp.                                       | CUSIP: 840441109<br>LEI: 549300JZUANXM0YQ4W53 | Long             | EC               | CORP              | US        |   1038525 | NS      | $90123199.50  | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Hills Corp.                                      | Black Hills Corp.                                      | CUSIP: 092113109<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | EC               | CORP              | US        |    603047 | NS      | $36725562.30  | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexander & Baldwin, Inc.                              | Alexander & Baldwin, Inc.                              | CUSIP: 014491104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1532566 | NS      | $26329483.88  | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Century Communities, Inc.                              | Century Communities, Inc.                              | CUSIP: 156504300<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | EC               | CORP              | US        |    180382 | NS      | $9838034.28   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanover Insurance Group, Inc. (The)                    | Hanover Insurance Group, Inc. (The)                    | CUSIP: 410867105<br>LEI: JJYR6MFKFF6CF8DBZ078 | Long             | EC               | CORP              | US        |    654117 | NS      | $108648833.70 | 3.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanmina Corp.                                          | Sanmina Corp.                                          | CUSIP: 801056102<br>LEI: X5K24XLM8QYRXF00EB42 | Long             | EC               | CORP              | US        |   1337656 | NS      | $102718604.24 | 2.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Senior plc                                             | Senior plc                                             | CUSIP: N/A<br>LEI: 5493002HQHWN5JQHKQ51       | Long             | EC               | CORP              | GB        |  28282051 | NS      | $52240404.29  | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| WSFS Financial Corp.                                   | WSFS Financial Corp.                                   | CUSIP: 929328102<br>LEI: 549300SU7VQHD6QRG886 | Long             | EC               | CORP              | US        |   1611695 | NS      | $83082877.25  | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Elementis plc                                          | Elementis plc                                          | CUSIP: N/A<br>LEI: 549300LQIH685LI2ML36       | Long             | EC               | CORP              | GB        |  39868704 | NS      | $67012335.23  | 1.93%             |  |  |  | No            |                  2 | On Loan: No      |
| Commercial Metals Co.                                  | Commercial Metals Co.                                  | CUSIP: 201723103<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | EC               | CORP              | US        |   1899528 | NS      | $84604977.12  | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| M/I Homes, Inc.                                        | M/I Homes, Inc.                                        | CUSIP: 55305B101<br>LEI: 5299005M71FH9CCSFB69 | Long             | EC               | CORP              | US        |    196167 | NS      | $20927095.56  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| German American Bancorp, Inc.                          | German American Bancorp, Inc.                          | CUSIP: 373865104<br>LEI: 5493002JDOI3GTNVUD76 | Long             | EC               | CORP              | US        |   1103214 | NS      | $41822842.74  | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Dr. Martens plc                                        | Dr. Martens plc                                        | CUSIP: N/A<br>LEI: 213800QPT8YM6NQZPH28       | Long             | EC               | CORP              | GB        |  22203406 | NS      | $16274763.55  | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| WillScot Holdings Corp.                                | WillScot Holdings Corp.                                | CUSIP: 971378104<br>LEI: 549300HJ4VIXF476Q166 | Long             | EC               | CORP              | US        |   3332153 | NS      | $83703683.36  | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| ACI Worldwide, Inc.                                    | ACI Worldwide, Inc.                                    | CUSIP: 004498101<br>LEI: 5493003BPVMZUJ6F5C02 | Long             | EC               | CORP              | US        |   1985228 | NS      | $105931766.08 | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Washington Trust Bancorp, Inc.                         | Washington Trust Bancorp, Inc.                         | CUSIP: 940610108<br>LEI: J66MZFCNJPP3PERHZW54 | Long             | EC               | CORP              | US        |    263263 | NS      | $7266058.80   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Kite Realty Group Trust                                | Kite Realty Group Trust                                | CUSIP: 49803T300<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1197135 | NS      | $25917972.75  | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Gates Industrial Corp. plc                             | Gates Industrial Corp. plc                             | CUSIP: N/A<br>LEI: 549300S6K4FWUSB9KM27       | Long             | EC               | CORP              | GB        |   2859529 | NS      | $54102288.68  | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Banking System, Inc.                          | Columbia Banking System, Inc.                          | CUSIP: 197236102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   4131334 | NS      | $92624508.28  | 2.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Benchmark Electronics, Inc.                            | Benchmark Electronics, Inc.                            | CUSIP: 08160H101<br>LEI: 549300W18RHYZOZKOP53 | Long             | EC               | CORP              | US        |   1376357 | NS      | $44772893.21  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Grand Vacations, Inc.                           | Hilton Grand Vacations, Inc.                           | CUSIP: 43283X105<br>LEI: 549300O9K6MFD8D07574 | Long             | EC               | CORP              | US        |   1540286 | NS      | $51799818.18  | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Knowles Corp.                                          | Knowles Corp.                                          | CUSIP: 49926D109<br>LEI: 5493003EO323TDZQU148 | Long             | EC               | CORP              | US        |   2470755 | NS      | $38889683.70  | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Boyd Gaming Corp.                                      | Boyd Gaming Corp.                                      | CUSIP: 103304101<br>LEI: 254900787YGRYS2A1Z35 | Long             | EC               | CORP              | US        |    581567 | NS      | $40209542.38  | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Peoples Bancorp, Inc.                                  | Peoples Bancorp, Inc.                                  | CUSIP: 709789101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    935037 | NS      | $27125423.37  | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| IDACORP, Inc.                                          | IDACORP, Inc.                                          | CUSIP: 451107106<br>LEI: N134NUJDWN8UEFA8B673 | Long             | EC               | CORP              | US        |    256047 | NS      | $30236590.23  | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| First Interstate BancSystem, Inc.                      | First Interstate BancSystem, Inc., Class A             | CUSIP: 32055Y201<br>LEI: 549300WRWYTYX0RCNJ43 | Long             | EC               | CORP              | US        |   3457936 | NS      | $90580633.52  | 2.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Bread Financial Holdings, Inc.                         | Bread Financial Holdings, Inc.                         | CUSIP: 018581108<br>LEI: 549300G8S4PO686J7H97 | Long             | EC               | CORP              | US        |    853149 | NS      | $40481920.05  | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| STAG Industrial, Inc.                                  | STAG Industrial, Inc.                                  | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               | CORP              | US        |    399200 | NS      | $13185576.00  | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Institutional Fiduciary Trust - Money Market Portfolio | Institutional Fiduciary Trust - Money Market Portfolio | CUSIP: 457756500<br>LEI: 549300M4TP89K77LG374 | Long             | STIV             | RF                | US        |  65437340 | NS      | $65437339.56  | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| TTM Technologies, Inc.                                 | TTM Technologies, Inc.                                 | CUSIP: 87305R109<br>LEI: 549300SC4BDOIS008048 | Long             | EC               | CORP              | US        |   1024889 | NS      | $20518277.78  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Veren, Inc.                                            | Veren, Inc.                                            | CUSIP: 92340V107<br>LEI: 549300FTKUHZK8OC7N74 | Long             | EC               | CORP              | CA        |   3970369 | NS      | $23500805.92  | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Bath & Body Works, Inc.                                | Bath & Body Works, Inc.                                | CUSIP: 070830104<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | EC               | CORP              | US        |   1032735 | NS      | $31508744.85  | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlantic Union Bankshares Corp.                        | Atlantic Union Bankshares Corp.                        | CUSIP: 04911A107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1962377 | NS      | $54357842.90  | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Energy, Inc.                                   | Liberty Energy, Inc., Class A                          | CUSIP: 53115L104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2374025 | NS      | $27301287.50  | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Water Solutions, Inc.                           | Select Water Solutions, Inc., Class A                  | CUSIP: 81617J301<br>LEI: 54930094OK8LA3QDW486 | Long             | EC               | CORP              | US        |   2254524 | NS      | $19208544.48  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| BRP, Inc.                                              | BRP, Inc.                                              | CUSIP: 05577W200<br>LEI: 529900EPQGESIRCPY551 | Long             | EC               | CORP              | CA        |    111466 | NS      | $3775904.69   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Avient Corp.                                           | Avient Corp.                                           | CUSIP: 05368V106<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | EC               | CORP              | US        |   2584911 | NS      | $86103385.41  | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Cable One, Inc.                                        | Cable One, Inc.                                        | CUSIP: 12685J105<br>LEI: 549300648QS85T0XSH18 | Long             | EC               | CORP              | US        |    186022 | NS      | $49718099.94  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| TWFG, Inc.                                             | TWFG, Inc., Class A                                    | CUSIP: 87318A101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6521 | NS      | $206585.28    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Piper Sandler Cos.                                     | Piper Sandler Cos.                                     | CUSIP: 724078100<br>LEI: QUQDBTUSOAKFEVMRMF78 | Long             | EC               | CORP              | US        |     30102 | NS      | $7258194.24   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Envista Holdings Corp.                                 | Envista Holdings Corp.                                 | CUSIP: 29415F104<br>LEI: 549300BX623VURJZ5269 | Long             | EC               | CORP              | US        |   4768428 | NS      | $76676322.24  | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Valmont Industries, Inc.                               | Valmont Industries, Inc.                               | CUSIP: 920253101<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | EC               | CORP              | US        |    305627 | NS      | $89615948.94  | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| QinetiQ Group plc                                      | QinetiQ Group plc                                      | CUSIP: N/A<br>LEI: 213800S8OBDOZMCMUW34       | Long             | EC               | CORP              | GB        |  18404897 | NS      | $96875774.32  | 2.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Melrose Industries plc                                 | Melrose Industries plc                                 | CUSIP: N/A<br>LEI: 213800RGNXXZY2M7TR85       | Long             | EC               | CORP              | GB        |   8894333 | NS      | $51705541.95  | 1.49%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-30

**Name of Applicant:** Franklin Value Investors Trust

**Signature:** Monica Krogh

**Name of Signer:** Monica Krogh

**Title:** Assistant Treasurer