# EDGAR Filing Document

**Accession Number:** 0000856119
**File Stem:** 0002071691-25-009352
**Filing Date:** 2025-12
**Character Count:** 31932
**Document Hash:** 1ebbbd31b5f068b4188d808d32887a2d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-009352.hdr.sgml**: 20251223

**ACCESSION NUMBER**: 0002071691-25-009352

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251223

**DATE AS OF CHANGE**: 20251223

**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:** 251595252

**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 MUTUAL SMALL-MID CAP VALUE FUND (Series ID: S000007354)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000020197 | ADVISOR CLASS | FVRMX           |
| C000020198 | CLASS A       | FRMCX           |
| C000128826 | Class R6      | FMCVX           |

## 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 Mutual Small-Mid Cap Value Fund

- **b. EDGAR series identifier (if any):** S000007354

- **c. LEI of Series:** 5493006EVJKC1V25UM73

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

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

- **b. Date as of which information is reported:** 2025-10-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $205829509.60

**Total Liabilities:** $332668.22

**Net Assets:** $205496841.38

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000128826 | 4.10%                | -0.53%               | -0.91%               |
| Class ID C000020198 | 4.10%                | -0.58%               | -0.94%               |
| Class ID C000020197 | 4.14%                | -0.57%               | -0.92%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2573625.25              | $5515699.07                                |
| Month 2  | $634219.65               | $-1875860.17                               |
| Month 3  | $2395978.98              | $-4328292.09                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Group 1 Automotive, Inc.                                 | Group 1 Automotive, Inc.                                 | CUSIP: 398905109<br>LEI: 549300US8QAZJLWYAF63 | Long             | EC               | CORP              | US        |      2410 | NS      | $958071.40    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Crocs, Inc.                                              | Crocs, Inc.                                              | CUSIP: 227046109<br>LEI: 549300B0J6YCXD63OG72 | Long             | EC               | CORP              | US        |      6193 | NS      | $505906.17    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Resideo Technologies, Inc.                               | Resideo Technologies, Inc.                               | CUSIP: 76118Y104<br>LEI: 5493006TKFPYISY2DS54 | Long             | EC               | CORP              | US        |     51453 | NS      | $2202188.40   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Gen Digital, Inc.                                        | Gen Digital, Inc.                                        | CUSIP: 668771108<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | EC               | CORP              | US        |    117911 | NS      | $3108133.96   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA Communications Corp.                                 | SBA Communications Corp., Class A                        | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |      7248 | NS      | $1387847.04   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Expand Energy Corp.                                      | Expand Energy Corp.                                      | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |     39197 | NS      | $4049442.07   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Missouri Bancorp, Inc.                          | Southern Missouri Bancorp, Inc.                          | CUSIP: 843380106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18441 | NS      | $967046.04    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Babcock International Group plc                          | Babcock International Group plc                          | CUSIP: N/A<br>LEI: 213800TSKOLX4EU6L377       | Long             | EC               | CORP              | GB        |     90122 | NS      | $1439161.69   | 0.70%             |  |  |  | No            |                  2 | On Loan: No      |
| Mueller Water Products, Inc.                             | Mueller Water Products, Inc., Class A                    | CUSIP: 624758108<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | EC               | CORP              | US        |     27307 | NS      | $700697.62    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| McGrath RentCorp                                         | McGrath RentCorp                                         | CUSIP: 580589109<br>LEI: 254900EUH6IPWFQ83445 | Long             | EC               | CORP              | US        |     13971 | NS      | $1501044.24   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Middleby Corp. (The)                                     | Middleby Corp. (The)                                     | CUSIP: 596278101<br>LEI: JDFO86U9VQRBKW5KYA35 | Long             | EC               | CORP              | US        |     17015 | NS      | $2113773.45   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| RXO, Inc.                                                | RXO, Inc.                                                | CUSIP: 74982T103<br>LEI: 549300KL8CA6GP8XPM30 | Long             | EC               | CORP              | US        |     56500 | NS      | $1001745.00   | 0.49%             |  |  |  | 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        |      5154 | NS      | $232548.48    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Steel Dynamics, Inc.                                     | Steel Dynamics, Inc.                                     | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | EC               | CORP              | US        |     37250 | NS      | $5840800.00   | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Raymond James Financial, Inc.                            | Raymond James Financial, Inc.                            | CUSIP: 754730109<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EC               | CORP              | US        |     11505 | NS      | $1825498.35   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson Controls International plc                       | Johnson Controls International plc                       | CUSIP: N/A<br>LEI: 549300XQ6S1GYKGBL205       | Long             | EC               | CORP              | IE        |     24415 | NS      | $2792831.85   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Bruker Corp.                                             | Bruker Corp.                                             | CUSIP: 116794108<br>LEI: LEBZ6VLQ6I8XB1NHVY15 | Long             | EC               | CORP              | US        |     10821 | NS      | $421369.74    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Victory Capital Holdings, Inc.                           | Victory Capital Holdings, Inc., Class A                  | CUSIP: 92645B103<br>LEI: 549300BN5LH2CIPPHS71 | Long             | EC               | CORP              | US        |     39833 | NS      | $2480400.91   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Regal Rexnord Corp.                                      | Regal Rexnord Corp.                                      | CUSIP: 758750103<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | EC               | CORP              | US        |     28847 | NS      | $4064253.83   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollar General Corp.                                     | Dollar General Corp.                                     | CUSIP: 256677105<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | EC               | CORP              | US        |     28617 | NS      | $2823353.22   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Lincoln Electric Holdings, Inc.                          | Lincoln Electric Holdings, Inc.                          | CUSIP: 533900106<br>LEI: BIMGBY40SIN95O01BN93 | Long             | EC               | CORP              | US        |     17564 | NS      | $4117879.80   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Mattel, Inc.                                             | Mattel, Inc.                                             | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Long             | EC               | CORP              | US        |    205062 | NS      | $3769039.56   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| UFP Industries, Inc.                                     | UFP Industries, Inc.                                     | CUSIP: 90278Q108<br>LEI: 5493007KB485C9OV5572 | Long             | EC               | CORP              | US        |      5636 | NS      | $519244.68    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| First Business Financial Services, Inc.                  | First Business Financial Services, Inc.                  | CUSIP: 319390100<br>LEI: 549300BXKLW2T50TKU95 | Long             | EC               | CORP              | US        |     12246 | NS      | $619770.06    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Dollar                                          | Canadian Dollar                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | CA        |      1223 | OU      | $871.90       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Gap, Inc. (The)                                          | Gap, Inc. (The)                                          | CUSIP: 364760108<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | EC               | CORP              | US        |    226878 | NS      | $5184162.30   | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| CNO Financial Group, Inc.                                | CNO Financial Group, Inc.                                | CUSIP: 12621E103<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | EC               | CORP              | US        |     78519 | NS      | $3142330.38   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| International Paper Co.                                  | International Paper Co.                                  | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Long             | EC               | CORP              | US        |     23957 | NS      | $925698.48    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Generac Holdings, Inc.                                   | Generac Holdings, Inc.                                   | CUSIP: 368736104<br>LEI: 529900S2H2AHJHSFFI84 | Long             | EC               | CORP              | US        |     16576 | NS      | $2785099.52   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Whitecap Resources, Inc.                                 | Whitecap Resources, Inc.                                 | CUSIP: 96467A200<br>LEI: 894500UA4G4BTB67II45 | Long             | EC               | CORP              | CA        |    203301 | NS      | $1513288.25   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Cooper Cos., Inc. (The)                                  | Cooper Cos., Inc. (The)                                  | CUSIP: 216648501<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |     28189 | NS      | $1970692.99   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL Corp.                                                | PPL Corp.                                                | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |     57933 | NS      | $2115713.16   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Ducommun, Inc.                                           | Ducommun, Inc.                                           | CUSIP: 264147109<br>LEI: 549300Z71HMWF90S2214 | Long             | EC               | CORP              | US        |     17039 | NS      | $1563328.25   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanover Insurance Group, Inc. (The)                      | Hanover Insurance Group, Inc. (The)                      | CUSIP: 410867105<br>LEI: JJYR6MFKFF6CF8DBZ078 | Long             | EC               | CORP              | US        |     10685 | NS      | $1825852.80   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Corpay, Inc.                                             | Corpay, Inc.                                             | CUSIP: 219948106<br>LEI: 549300DG6RR0NQSFLN74 | Long             | EC               | CORP              | US        |      9199 | NS      | $2394959.65   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| MSA Safety, Inc.                                         | MSA Safety, Inc.                                         | CUSIP: 553498106<br>LEI: 529900DVA3258XK11O39 | Long             | EC               | CORP              | US        |      7503 | NS      | $1178196.09   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Apollo Global Management, Inc.                           | Apollo Global Management, Inc.                           | CUSIP: 03769M106<br>LEI: 254900LMFT1CY9IYB476 | Long             | EC               | CORP              | US        |     16471 | NS      | $2047510.01   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Henry Schein, Inc.                                       | Henry Schein, Inc.                                       | CUSIP: 806407102<br>LEI: VGO3WGL8H45T73F4RR92 | Long             | EC               | CORP              | US        |     31222 | NS      | $1973230.40   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Mohawk Industries, Inc.                                  | Mohawk Industries, Inc.                                  | CUSIP: 608190104<br>LEI: 549300JI1115MG3Q6322 | Long             | EC               | CORP              | US        |     41171 | NS      | $4678672.44   | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Independence Realty Trust, Inc.                          | Independence Realty Trust, Inc.                          | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               | CORP              | US        |    117410 | NS      | $1870341.30   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Zimmer Biomet Holdings, Inc.                             | Zimmer Biomet Holdings, Inc.                             | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |     42330 | NS      | $4256704.80   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS, Inc.                                                | MKS, Inc.                                                | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |     44473 | NS      | $6391214.83   | 3.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Vontier Corp.                                            | Vontier Corp.                                            | CUSIP: 928881101<br>LEI: 549300VVSQLG4P5K4639 | Long             | EC               | CORP              | US        |    106296 | NS      | $4092396.00   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Commercial Metals Co.                                    | Commercial Metals Co.                                    | CUSIP: 201723103<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | EC               | CORP              | US        |     80946 | NS      | $4804954.56   | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Flex Ltd.                                                | Flex Ltd.                                                | CUSIP: N/A<br>LEI: 549300EAQH74YHD07T53       | Long             | EC               | CORP              | SG        |     18425 | NS      | $1151931.00   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Wyndham Hotels & Resorts, Inc.                           | Wyndham Hotels & Resorts, Inc.                           | CUSIP: 98311A105<br>LEI: 549300FE3MQ4RVXXC673 | Long             | EC               | CORP              | US        |     11670 | NS      | $856928.10    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| ACI Worldwide, Inc.                                      | ACI Worldwide, Inc.                                      | CUSIP: 004498101<br>LEI: 5493003BPVMZUJ6F5C02 | Long             | EC               | CORP              | US        |    116248 | NS      | $5536892.24   | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Onto Innovation, Inc.                                    | Onto Innovation, Inc.                                    | CUSIP: 683344105<br>LEI: 254900RXZVN73CHOO062 | Long             | EC               | CORP              | US        |     20230 | NS      | $2730240.80   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Dick's Sporting Goods, Inc.                              | Dick's Sporting Goods, Inc.                              | CUSIP: 253393102<br>LEI: 529900SSBV5I4LWSK313 | Long             | EC               | CORP              | US        |     10106 | NS      | $2237973.70   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| CNH Industrial NV                                        | CNH Industrial NV                                        | CUSIP: N/A<br>LEI: 549300WGC2HZ5J67V817       | Long             | EC               | CORP              | NL        |    178421 | NS      | $1871636.29   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Estee Lauder Cos., Inc. (The)                            | Estee Lauder Cos., Inc. (The), Class A                   | CUSIP: 518439104<br>LEI: 549300VFZ8XJ9NUPU221 | Long             | EC               | CORP              | US        |     28466 | NS      | $2752377.54   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Gates Industrial Corp. plc                               | Gates Industrial Corp. plc                               | CUSIP: N/A<br>LEI: 549300S6K4FWUSB9KM27       | Long             | EC               | CORP              | GB        |    182984 | NS      | $4040286.72   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Banking System, Inc.                            | Columbia Banking System, Inc.                            | CUSIP: 197236102<br>LEI: 254900CTRJTQZ3BJ2V17 | Long             | EC               | CORP              | US        |    158868 | NS      | $4257662.40   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Selective Insurance Group, Inc.                          | Selective Insurance Group, Inc.                          | CUSIP: 816300107<br>LEI: 549300R3WGJWLE40R258 | Long             | EC               | CORP              | US        |     17289 | NS      | $1302553.26   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Grand Vacations, Inc.                             | Hilton Grand Vacations, Inc.                             | CUSIP: 43283X105<br>LEI: 549300O9K6MFD8D07574 | Long             | EC               | CORP              | US        |     13482 | NS      | $558828.90    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferguson Enterprises, Inc.                               | Ferguson Enterprises, Inc.                               | CUSIP: 31488V107<br>LEI: 2138003JYQMRP3SLX189 | Long             | EC               | CORP              | US        |     21911 | NS      | $5444883.50   | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Boyd Gaming Corp.                                        | Boyd Gaming Corp.                                        | CUSIP: 103304101<br>LEI: 254900787YGRYS2A1Z35 | Long             | EC               | CORP              | US        |     21995 | NS      | $1712750.65   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Amrize Ltd.                                              | Amrize Ltd.                                              | CUSIP: N/A<br>LEI: 529900SLCCO6K43P8146       | Long             | EC               | CORP              | CH        |     20415 | NS      | $1058313.60   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| SouthState Bank Corp.                                    | SouthState Bank Corp.                                    | CUSIP: 84472E102<br>LEI: 549300JZUANXM0YQ4W53 | Long             | EC               | CORP              | US        |     39067 | NS      | $3463289.55   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Co.                                         | Baker Hughes Co., Class A                                | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    111946 | NS      | $5419305.86   | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| United Rentals, Inc.                                     | United Rentals, Inc.                                     | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |      4423 | NS      | $3853229.14   | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| IDACORP, Inc.                                            | IDACORP, Inc.                                            | CUSIP: 451107106<br>LEI: N134NUJDWN8UEFA8B673 | Long             | EC               | CORP              | US        |     18314 | NS      | $2362872.28   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| First Interstate BancSystem, Inc.                        | First Interstate BancSystem, Inc., Class A               | CUSIP: 32055Y201<br>LEI: 549300WRWYTYX0RCNJ43 | Long             | EC               | CORP              | US        |    112192 | NS      | $3506000.00   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Dover Corp.                                              | Dover Corp.                                              | CUSIP: 260003108<br>LEI: 549300FMC2ALGA7N9E80 | Long             | EC               | CORP              | US        |     11643 | NS      | $2112738.78   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Bread Financial Holdings, Inc.                           | Bread Financial Holdings, Inc.                           | CUSIP: 018581108<br>LEI: 549300G8S4PO686J7H97 | Long             | EC               | CORP              | US        |     56184 | NS      | $3519927.60   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| STAG Industrial, Inc.                                    | STAG Industrial, Inc.                                    | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               | CORP              | US        |     19922 | NS      | $762414.94    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Institutional U.S. Government Money Market Fund | Franklin Institutional U.S. Government Money Market Fund | CUSIP: 457756500<br>LEI: 549300M4TP89K77LG374 | Long             | STIV             | RF                | US        |   4912560 | NS      | $4912559.94   | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlantic Union Bankshares Corp.                          | Atlantic Union Bankshares Corp.                          | CUSIP: 04911A107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     96289 | NS      | $3131318.28   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Energy, Inc.                                     | Liberty Energy, Inc., Class A                            | CUSIP: 53115L104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    192438 | NS      | $3485052.18   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Avient Corp.                                             | Avient Corp.                                             | CUSIP: 05368V106<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | EC               | CORP              | US        |    108898 | NS      | $3492358.86   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group, Inc.                           | Citizens Financial Group, Inc.                           | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |     95355 | NS      | $4850708.85   | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixmor Property Group, Inc.                             | Brixmor Property Group, Inc.                             | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |     74059 | NS      | $1937383.44   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Piper Sandler Cos.                                       | Piper Sandler Cos.                                       | CUSIP: 724078100<br>LEI: QUQDBTUSOAKFEVMRMF78 | Long             | EC               | CORP              | US        |      3037 | NS      | $969592.62    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Envista Holdings Corp.                                   | Envista Holdings Corp.                                   | CUSIP: 29415F104<br>LEI: 549300BX623VURJZ5269 | Long             | EC               | CORP              | US        |    180388 | NS      | $3670895.80   | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Valmont Industries, Inc.                                 | Valmont Industries, Inc.                                 | CUSIP: 920253101<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | EC               | CORP              | US        |     14955 | NS      | $6182845.65   | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| QinetiQ Group plc                                        | QinetiQ Group plc                                        | CUSIP: N/A<br>LEI: 213800S8OBDOZMCMUW34       | Long             | EC               | CORP              | GB        |    632692 | NS      | $3995249.44   | 1.94%             |  |  |  | No            |                  2 | On Loan: No      |
| Melrose Industries plc                                   | Melrose Industries plc                                   | CUSIP: N/A<br>LEI: 213800RGNXXZY2M7TR85       | Long             | EC               | CORP              | GB        |    534778 | NS      | $4405530.09   | 2.14%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-01

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

**Signature:** Monica Krogh

**Name of Signer:** Monica Krogh

**Title:** Assistant Treasurer