# EDGAR Filing Document

**Accession Number:** 0001176343
**File Stem:** 0001752724-23-051604
**Filing Date:** 2023-3
**Character Count:** 564087
**Document Hash:** 401750cd30aa3dd6689464ab1828611f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-051604.hdr.sgml**: 20230310

**ACCESSION NUMBER**: 0001752724-23-051604

**CONFORMED SUBMISSION TYPE**: N-CEN

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230310

**DATE AS OF CHANGE**: 20230310

**EFFECTIVENESS DATE**: 20230310

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LEGG MASON PARTNERS VARIABLE EQUITY TRUST
- **CENTRAL INDEX KEY:** 0001176343
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MD

**FILING VALUES:**
- **FORM TYPE:** N-CEN
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21128
- **FILM NUMBER:** 23722068

**BUSINESS ADDRESS:**
- **STREET 1:** LEGG MASON & CO., LLC
- **STREET 2:** 620 EIGHTH AVENUE, 49TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018
- **BUSINESS PHONE:** 1-877-721-1926

**MAIL ADDRESS:**
- **STREET 1:** LEGG MASON & CO., LLC
- **STREET 2:** 620 EIGHTH AVENUE, 49TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Legg Mason Partners Variable Portfolios IV
- **DATE OF NAME CHANGE:** 20060501

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SMITH BARNEY MULTIPLE DISCIPLINE TRUST
- **DATE OF NAME CHANGE:** 20021004

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SMITH BARNEY MULTIPLE DISCIPLINE ACCOUNT TRUST
- **DATE OF NAME CHANGE:** 20020626

## Series and Classes Contracts Data

### ClearBridge Variable Dividend Strategy Portfolio (Series ID: S000008304)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022693 | Class II     | QLMETX          |
| C000047600 | Class I      | QLMEIX          |

### ClearBridge Variable Aggressive Growth Portfolio (Series ID: S000016933)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000047115 | Class I      | QLMGOX          |
| C000047116 | Class II     | QLMGTX          |

### ClearBridge Variable Large Cap Growth Portfolio (Series ID: S000016935)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000047118 | Class I      | QLMLOX          |
| C000047119 | Class II     | LVLGX           |

### ClearBridge Variable Mid Cap Portfolio (Series ID: S000016937)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000047121 | Class I      | QLMMIX          |
| C000047122 | Class II     | QLMPTX          |

### ClearBridge Variable Small Cap Growth Portfolio (Series ID: S000017007)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000047262 | Class I      | QLMSIX          |
| C000047263 | Class II     | QLMSTX          |

### Franklin Multi-Asset Variable Conservative Growth (Series ID: S000017009)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000047266 | Class I      | QLMLFX          |
| C000183009 | Class II     | QVCIIX          |

### Franklin Multi-Asset Variable Moderate Growth (Series ID: S000017010)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000047267 | Class I      | QLMLSX          |

### Franklin Multi-Asset Variable Growth (Series ID: S000017011)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000047268 | Class I      | QLMLTX          |

### ClearBridge Variable Appreciation Portfolio (Series ID: S000017013)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000047270 | Class I      | QLMAOX          |
| C000053699 | Class II     | CVAPX           |

### ClearBridge Variable Large Cap Value Portfolio (Series ID: S000017019)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000047279 | Class I      | QLMVIX          |

### Franklin Multi-Asset Dynamic Multi-Strategy VIT (Series ID: S000034620)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000106566 | Class I Shares  | QDMSIX          |
| C000106567 | Class II Shares | QDMSTX          |

### Franklin Templeton Aggressive Model Portfolio (Series ID: S000068271)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000218574 | Class II     | QLMABX          |
| C000218575 | Class I      | QLMAAX          |

### Franklin Templeton Conservative Model Portfolio (Series ID: S000068272)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000218576 | Class I      | QLMAIX          |
| C000218577 | Class II     | QLMAJX          |

### Franklin Templeton Moderate Model Portfolio (Series ID: S000068273)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000218578 | Class II     | QLMAFX          |
| C000218579 | Class I      | QLMAEX          |

### Franklin Templeton Moderately Aggressive Model Portfolio (Series ID: S000068274)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000218580 | Class II     | QLMADX          |
| C000218581 | Class I      | QLMACX          |

### Franklin Templeton Moderately Conservative Model Portfolio (Series ID: S000068275)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000218582 | Class I      | QLMAGX          |
| C000218583 | Class II     | QLMAHX          |

## Internal

**Report of Independent Registered Public Accounting Firm**

To the Board of Trustees of Legg Mason Partners Variable Equity Trust and Shareholders of ClearBridge Variable Aggressive Growth Portfolio, ClearBridge Variable Appreciation Portfolio, ClearBridge Variable Dividend Strategy Portfolio, ClearBridge Variable Large Cap Growth Portfolio, ClearBridge Variable Large Cap Value Portfolio, ClearBridge Variable Mid Cap Portfolio, ClearBridge Variable Small Cap Growth Portfolio, Franklin Multi-Asset Variable Conservative Growth Fund, Franklin Multi-Asset Variable Growth Fund, Franklin Multi-Asset Variable Moderate Growth Fund, Franklin Templeton Aggressive Model Portfolio, Franklin Templeton Moderately Aggressive Model Portfolio, Franklin Templeton Moderate Model Portfolio, Franklin Templeton Moderately Conservative Model Portfolio and Franklin Templeton Conservative Model Portfolio

In planning and performing our audits of the financial statements of ClearBridge Variable Aggressive Growth Portfolio, ClearBridge Variable Appreciation Portfolio, ClearBridge Variable Dividend Strategy Portfolio, ClearBridge Variable Large Cap Growth Portfolio, ClearBridge Variable Large Cap Value Portfolio, ClearBridge Variable Mid Cap Portfolio, ClearBridge Variable Small Cap Growth Portfolio, Franklin Multi-Asset Variable Conservative Growth Fund, Franklin Multi-Asset Variable Growth Fund, Franklin Multi-Asset Variable Moderate Growth Fund, Franklin Templeton Aggressive Model Portfolio, Franklin Templeton Moderately Aggressive Model Portfolio, Franklin Templeton Moderate Model Portfolio, Franklin Templeton Moderately Conservative Model Portfolio and Franklin Templeton Conservative Model Portfolio (each a series of Legg Mason Partners Variable Equity Trust, hereinafter referred to as the "Portfolios") as of and for the year ended December 31, 2022, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Portfolios' 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 Portfolios' internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Portfolios' internal control over financial reporting.

The management of the Portfolios 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 Portfolios' 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 Portfolios' 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 December 31, 2022.

This report is intended solely for the information and use of the Board of Trustees of Legg Mason Partners Variable Equity 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

Baltimore, Maryland

February 13, 2023

PricewaterhouseCoopers LLP, 100 East Pratt Street, Suite 2600, Baltimore, MD 21202-1096 T: (410) 783 7600, F: (410) 783 7680, www .pwc.com/us

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

## N-CEN: Filer Information
**Submission Type:** N-CEN
**CIK:** 0001176343

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

**Series ID Record:1**
- **Series ID:** S000068272

**Series ID Record:2**
- **Series ID:** S000016935

**Series ID Record:3**
- **Series ID:** S000034620

**Series ID Record:4**
- **Series ID:** S000017007

**Series ID Record:5**
- **Series ID:** S000016933

**Series ID Record:6**
- **Series ID:** S000017009

**Series ID Record:7**
- **Series ID:** S000017013

**Series ID Record:8**
- **Series ID:** S000068274

**Series ID Record:9**
- **Series ID:** S000008304

**Series ID Record:10**
- **Series ID:** S000016937

**Series ID Record:11**
- **Series ID:** S000068275

**Series ID Record:12**
- **Series ID:** S000017011

**Series ID Record:13**
- **Series ID:** S000017010

**Series ID Record:14**
- **Series ID:** S000017019

**Series ID Record:15**
- **Series ID:** S000068271

**Series ID Record:16**
- **Series ID:** S000068273

**Class ID Record:1**
- **Class ID:** C000218577

**Class ID Record:2**
- **Class ID:** C000218576

**Class ID Record:3**
- **Class ID:** C000047118

**Class ID Record:4**
- **Class ID:** C000047119

**Class ID Record:5**
- **Class ID:** C000106566

**Class ID Record:6**
- **Class ID:** C000106567

**Class ID Record:7**
- **Class ID:** C000047263

**Class ID Record:8**
- **Class ID:** C000047262

**Class ID Record:9**
- **Class ID:** C000047116

**Class ID Record:10**
- **Class ID:** C000047115

**Class ID Record:11**
- **Class ID:** C000183009

**Class ID Record:12**
- **Class ID:** C000047266

**Class ID Record:13**
- **Class ID:** C000047270

**Class ID Record:14**
- **Class ID:** C000053699

**Class ID Record:15**
- **Class ID:** C000218581

**Class ID Record:16**
- **Class ID:** C000218580

**Class ID Record:17**
- **Class ID:** C000022693

**Class ID Record:18**
- **Class ID:** C000047600

**Class ID Record:19**
- **Class ID:** C000047122

**Class ID Record:20**
- **Class ID:** C000047121

**Class ID Record:21**
- **Class ID:** C000218582

**Class ID Record:22**
- **Class ID:** C000218583

**Class ID Record:23**
- **Class ID:** C000047268

**Class ID Record:24**
- **Class ID:** C000047267

**Class ID Record:25**
- **Class ID:** C000047279

**Class ID Record:26**
- **Class ID:** C000218574

**Class ID Record:27**
- **Class ID:** C000218575

**Class ID Record:28**
- **Class ID:** C000218579

**Class ID Record:29**
- **Class ID:** C000218578

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

**Item A.1.a - Report for period ending:** 2022-12-31

**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:** Legg Mason Partners Variable Equity Trust

- **Item B.1.b - Investment Company Act file number:** 811-21128

- **Item B.1.c - CIK:** 0001176343

- **Item B.1.d - LEI:** 549300W9EP2BXVLOGN89

- **Item B.2.a - Street 1:** 620 Eighth Avenue

- **Item B.2.a - Street 2:** 47th Floor

- **Item B.2.b - City:** New York

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

- **Item B.2.e - Zip Code:** 10018

- **Item B.2.f - Telephone:** 1-877-721-1926

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

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

**Location books Record: 1**

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

- **b. Street 1:** 620 Eighth Avenue

- **Street 2:** 48th Floor

- **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:** 10018

- **g. Telephone number:** 1-800-691-6960

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

**Location books Record: 2**

- **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:** 1-650-312-2000

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

**Location books Record: 3**

- **a. Name of person (e.g., a custodian of records):** Legg Mason Partners Variable Equity Trust

- **b. Street 1:** 620 Eighth Avenue

- **Street 2:** 47th Floor

- **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:** 10018

- **g. Telephone number:** 1-877-721-1926

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

**Location books Record: 4**

- **a. Name of person (e.g., a custodian of records):** The Bank of New York Mellon

- **b. Street 1:** 240 Greenwich Street

- **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:** 10286

- **g. Telephone number:** 1-212-495-1784

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

**Location books Record: 5**

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

- **b. Street 1:** 3344 Quality Drive

- **c. City:** Rancho Cordova

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

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

- **f. Zip code and zip code extension, or foreign postal code:** 95670

- **g. Telephone number:** 1-916-463-2075

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

**Location books Record: 6**

- **a. Name of person (e.g., a custodian of records):** Western Asset Management Company, LLC

- **b. Street 1:** 385 East Colorado Boulevard

- **c. City:** Pasadena

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

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

- **f. Zip code and zip code extension, or foreign postal code:** 91101

- **g. Telephone number:** 1-626-844-9400

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

**Location books Record: 7**

- **a. Name of person (e.g., a custodian of records):** BNY Mellon Investment Servicing (US) Inc.

- **b. Street 1:** 301 Bellevue Parkway

- **c. City:** Wilmington

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

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

- **f. Zip code and zip code extension, or foreign postal code:** 19809

- **g. Telephone number:** 1-302-791-1700

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

**Location books Record: 8**

- **a. Name of person (e.g., a custodian of records):** Legg Mason Partners Fund Advisor, LLC

- **b. Street 1:** 280 Park 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:** 1-305-529-4400

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

**Location books Record: 9**

- **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:** 1-800-632-2350

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

- **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

### 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:** 15

- **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                                                                                                                                                                                                                                                                                                                                     |
|:---|:---|:---|
| Jane Trust         | Yes                     | 811-06740, 811-21403, 811-05497, 811-07920, 811-08709, 811-06506, 811-06310, 811-02351, 811-22444, 811-10407, 811-21467, 811-22294, 811-21343, 811-22405, 811-22491, 811-23408, 811-22693, 811-06444, 811-10603, 811-22369, 811-06629, 811-04052, 811-04254, 811-06110, 811-07362, 811-21477, 811-22582, 811-22338, 811-05812, 811-22334, 811-22546, 811-23598, 811-21337 |
| Robin J.W. Masters | No                      | 811-06444, 811-22338                                                                                                                                                                                                                                                                                                                                                      |
| G. Peter O'Brien   | No                      | 811-22338, 811-06444                                                                                                                                                                                                                                                                                                                                                      |
| Paul R. Ades       | No                      | 811-06444, 811-22338                                                                                                                                                                                                                                                                                                                                                      |
| Ken Miller         | No                      | 811-22338, 811-06444                                                                                                                                                                                                                                                                                                                                                      |
| Susan M. Heilbron  | No                      | 811-06444, 811-22338                                                                                                                                                                                                                                                                                                                                                      |
| Andrew L. Breech   | No                      | 811-22338, 811-06444                                                                                                                                                                                                                                                                                                                                                      |
| Arnold L. Lehman   | No                      | 811-06444, 811-22338                                                                                                                                                                                                                                                                                                                                                      |
| Stephen R. Gross   | No                      | 811-22338, 811-06444                                                                                                                                                                                                                                                                                                                                                      |
| Althea L. Duersten | No                      | 811-06444, 811-22338                                                                                                                                                                                                                                                                                                                                                      |
| Thomas F. Schlafly | No                      | 811-06444, 811-22338                                                                                                                                                                                                                                                                                                                                                      |

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

**Chief compliance officer Record: 1**

- **a. Full Name:** Ted P. Becker

- **b. CRD Number, if any:** N/A

- **c. Street Address 1:** 280 Park Avenue

- **   Street Address 2:** 8th Floor

- **d. City:** New York

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

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

- **g. Zip code:** 10017

- **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-19023

### Item B.16. Principal underwriters.

**Principal underwriter Record: 1**

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

- **ii. SEC file number:** 008-53089

- **iii. CRD number:** 000109064

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

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

- **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:** MD

- **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 Templeton Conservative Model Portfolio

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

- **a. Full Name of the Fund:** Franklin Templeton Conservative Model Portfolio

- **b. Series identification number, if any:** S000068272

- **c. LEI:** 5493007NRDJ55I7D0G40

- **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?:** 2

- **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 II                | C000218577                                | QLMAJX                       |
|                           2 | Class I                 | C000218576                                | QLMAIX                       |

**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

- [x] 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

- [ ] 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:** —

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

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

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

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

- 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?** 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:** Legg Mason Partners Fund Advisor, LLC

- **ii. SEC file number:** 801-66785

- **iii. CRD number:** 000140432

- **iv. LEI, if any:** 549300POFVK5JLWUL193

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

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

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

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

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

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

- **iii. CRD number:** 000104517

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

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vii. Was the sub-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:** BNY Mellon Investment Servicing (US) Inc.

- **ii. SEC file number:** 084-01761

- **iii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

- **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?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

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

**Pricing Services Record: 1**

- **i. Full name:** THE CLEARING HOUSE PAYMENTS COMPANY L.L.C.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300KIB86ZLHRUV723

- **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:** Refinitiv Benchmark Services Limited

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

- **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:** IHS MARKIT GROUP HOLDINGS LIMITED

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

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

**Pricing Services Record: 4**

- **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:** MA

- **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: 5**

- **i. Full name:** Virtu Financial, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001OPW2K42CH3884

- **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: 6**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **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: 7**

- **i. Full name:** PricingDirect Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **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: 8**

- **i. Full name:** Refinitiv US LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 213800HQORQAP68CJJ04

- **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: 9**

- **i. Full name:** Bank of America Merill Lynch PriceServe

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

- **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:** The Bank of New York Mellon

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

- **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

- **ii. LEI, if any:** 084-01036

- **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

**Shareholder Servicing Agents Record: 2**

- **i. Full name:** BNY Mellon Investment Servicing (US) Inc.

- **ii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

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

- **v. Is the shareholder servicing agent an affiliated person?:** No

- **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?** Yes

**Item C.14. Administrators.**

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

**Administrators Record: 1**

- **i. Full name:** Legg Mason Partners Fund Advisor, LLC

- **ii. LEI, if any, or other identifying number:** 549300POFVK5JLWUL193

- **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)?:** 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:** Clarion Partners Securities, LLC

- **b. SEC file number:** 008-69204

- **c. CRD number:** 000166384

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

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

- **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:** 008-43206

- **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:** 008-53089

- **c. CRD number:** 000109064

- **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: 4**

- **a. Full name:** ROYCE FUND SERVICES, LLC

- **b. SEC file number:** 008-28663

- **c. CRD number:** 000014470

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

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

- **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.b - Aggregate value of principal purchase/sale transactions:** $0.00

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

- **Item C.19.a - Fund's monthly average net assets:** $157,008,713.66

- **Item C.19.b - Money market fund's daily average net assets:** $0.00

**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?** $2,675,000,000.00

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

  - **Line Institutions Record: 3 Name of institution:** STATE STREET BANK AND TRUST COMPANY

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

  - **Line Institutions Record: 5 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

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

  - **Line Institutions Record: 7 Name of institution:** STANDARD CHARTERED BANK

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

  - **Line Institutions Record: 9 Name of institution:** THE TORONTO-DOMINION BANK

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

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

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

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

  - **Line Institutions Record: 14 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

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

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

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

  - **Line Institutions Record: 18 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 19 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 20 Name of institution:** CREDIT SUISSE AG

- **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 Small Cap Growth Fund                                 | 811-06243         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Western Asset Income Fund                                      | 811-04254         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Templeton International Bond Fund                              | 811-04706         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| BrandywineGLOBAL-Dynamic US Large Cap Value ETF                | 811-23124         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Martin Currie Sustainable International Equity ETF             | 811-23124         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| ClearBridge International Value Fund                           | 811-06444         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| ClearBridge Value Trust                                        | 811-22338         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| Templeton World Fund                                           | 811-02781         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Franklin Managed Income fund                                   | 811-04986         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Franklin Mutual European Fund                                  | 811-05387         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Templeton Foreign Fund                                         | 811-02781         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Templeton International Climate Change Fund                    | 811-02781         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Templeton China World Fund                                     | 811-07876         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Franklin High Income Fund                                      | 811-01608         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin Income Fund                                           | 811-00537         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Franklin International Equity Fund                             | 811-22338         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Franklin U.S. Small Cap Equity Fund                            | 811-22338         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Franklin Growth Fund                                           | 811-00537         |
| Franklin Total Return Fund                                     | 811-04986         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| International Equity Series                                    | 811-06135         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| Franklin S&P 500 Index 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: 2 - ClearBridge Variable Large Cap Growth Portfolio

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

- **a. Full Name of the Fund:** ClearBridge Variable Large Cap Growth Portfolio

- **b. Series identification number, if any:** S000016935

- **c. LEI:** 549300V544YNFV1OTM53

- **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?:** 2

- **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 I                 | C000047118                                | QLMLOX                       |
|                           2 | Class II                | C000047119                                | LVLGX                        |

**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:** —

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

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

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

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

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

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

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

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

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

**Investment Advisers Record: 1**

- **i. Full name:** Legg Mason Partners Fund Advisor, LLC

- **ii. SEC file number:** 801-66785

- **iii. CRD number:** 000140432

- **iv. LEI, if any:** 549300POFVK5JLWUL193

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

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

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

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

- **i. Full name:** ClearBridge Investments, LLC

- **ii. SEC file number:** 801-64710

- **iii. CRD number:** 000137028

- **iv. LEI, if any:** 549300L5KZQRDVVXSK45

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vii. Was the sub-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:** BNY Mellon Investment Servicing (US) Inc.

- **ii. SEC file number:** 084-01761

- **iii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

- **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?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

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

**Pricing Services Record: 1**

- **i. Full name:** Refinitiv US LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 213800HQORQAP68CJJ04

- **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:** Refinitiv Benchmark Services Limited

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

- **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:** 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: 4**

- **i. Full name:** THE CLEARING HOUSE PAYMENTS COMPANY L.L.C.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300KIB86ZLHRUV723

- **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: 5**

- **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:** MA

- **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: 6**

- **i. Full name:** Bank of America Merill Lynch PriceServe

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

- **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: 7**

- **i. Full name:** IHS MARKIT GROUP HOLDINGS LIMITED

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

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

**Pricing Services Record: 8**

- **i. Full name:** Virtu Financial, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001OPW2K42CH3884

- **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: 9**

- **i. Full name:** PricingDirect Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **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:** The Bank of New York Mellon

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

- **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:** BNY Mellon Investment Servicing (US) Inc.

- **ii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

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

- **v. Is the shareholder servicing agent an affiliated person?:** No

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

**Shareholder Servicing Agents Record: 2**

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

- **ii. LEI, if any:** 084-01036

- **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?** Yes

**Item C.14. Administrators.**

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

**Administrators Record: 1**

- **i. Full name:** Legg Mason Partners Fund Advisor, LLC

- **ii. LEI, if any, or other identifying number:** 549300POFVK5JLWUL193

- **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)?:** 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:** Clarion Partners Securities, LLC

- **b. SEC file number:** 008-69204

- **c. CRD number:** 000166384

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

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

- **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:** ROYCE FUND SERVICES, LLC

- **b. SEC file number:** 008-28663

- **c. CRD number:** 000014470

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

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

- **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:** 008-53089

- **c. CRD number:** 000109064

- **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: 4**

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

- **b. SEC file number:** 008-43206

- **c. CRD number:** 000027884

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

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

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

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

**Item C.16. Brokers.**

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

**Brokers Record: 1**

- **i. Full name of broker:** BARCLAYS CAPITAL, INC.

- **ii. SEC file number:** 008-41342

- **iii. CRD number:** 000019714

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $568.00

**Brokers Record: 2**

- **i. Full name of broker:** CITIGROUP GLOBAL MARKETS INC.

- **ii. SEC file number:** 008-08177

- **iii. CRD number:** 000007059

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,497.40

**Brokers Record: 3**

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

- **ii. SEC file number:** 008-22651

- **iii. CRD number:** 000007654

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $3,808.71

**Brokers Record: 4**

- **i. Full name of broker:** NATIONAL FINANCIAL SERVICES LLC

- **ii. SEC file number:** 008-26740

- **iii. CRD number:** 000013041

- **iv. LEI, if any:** 549300JRHF1MHHWUAW04

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,207.75

**Brokers Record: 5**

- **i. Full name of broker:** CREDIT SUISSE SECURITIES (USA) LLC

- **ii. SEC file number:** 008-00422

- **iii. CRD number:** 000000816

- **iv. LEI, if any:** 1V8Y6QCX6YMJ2OELII46

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,839.78

**Brokers Record: 6**

- **i. Full name of broker:** WELLS FARGO SECURITIES, LLC

- **ii. SEC file number:** 008-65876

- **iii. CRD number:** 000126292

- **iv. LEI, if any:** VYVVCKR63DVZZN70PB21

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $815.03

**Brokers Record: 7**

- **i. Full name of broker:** MORGAN STANLEY & CO. LLC

- **ii. SEC file number:** 008-15869

- **iii. CRD number:** 000008209

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $6,402.37

**Brokers Record: 8**

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

- **ii. SEC file number:** 008-17574

- **iii. CRD number:** 000007560

- **iv. LEI, if any:** ZI8Q1A8EI8LQFJNM0D94

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,636.80

**Brokers Record: 9**

- **i. Full name of broker:** GOLDMAN SACHS & CO. LLC

- **ii. SEC file number:** 008-00129

- **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:** $1,061.60

**Brokers Record: 10**

- **i. Full name of broker:** Raymond James & Associates, Inc.

- **ii. SEC file number:** 008-10999

- **iii. CRD number:** 000000705

- **iv. LEI, if any:** U4ONQX15J3RO8XCKE979

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $3,457.99

**Aggregate Commission:** $25,056.84

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

| Name                    | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| GOLDMAN SACHS & CO. LLC | 008-00129         |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $1,518,400.00             |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $1,518,400.00

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

- **Item C.19.a - Fund's monthly average net assets:** $375,482,373.01

- **Item C.19.b - Money market fund's daily average net assets:** $0.00

**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?** $2,675,000,000.00

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

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

  - **Line Institutions Record: 2 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 3 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 4 Name of institution:** STATE STREET BANK AND TRUST COMPANY

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

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

  - **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:** THE BANK OF NOVA SCOTIA

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

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

  - **Line Institutions Record: 12 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

  - **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:** CREDIT SUISSE AG

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

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

  - **Line Institutions Record: 18 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 19 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 20 Name of institution:** THE BANK OF NEW YORK MELLON

- **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 Alabama Tax-Free Income Fund                          | 811-04149         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Western Asset Income Fund                                      | 811-04254         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| BrandywineGLOBAL-Dynamic US Large Cap Value ETF                | 811-23124         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin Total Return Fund                                     | 811-04986         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| International Equity Series                                    | 811-06135         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Martin Currie Sustainable International Equity ETF             | 811-23124         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Franklin U.S. Small Cap Equity Fund                            | 811-22338         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Franklin High Income Fund                                      | 811-01608         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Foreign Smaller Companies Series                               | 811-06135         |
| ClearBridge Value Trust                                        | 811-22338         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Franklin Income Fund                                           | 811-00537         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Templeton Foreign Fund                                         | 811-02781         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Templeton China World Fund                                     | 811-07876         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin Mutual European Fund                                  | 811-05387         |
| Templeton World Fund                                           | 811-02781         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Templeton International Bond Fund                              | 811-04706         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Franklin Managed Income fund                                   | 811-04986         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Templeton International Climate Change Fund                    | 811-02781         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Franklin Growth Fund                                           | 811-00537         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| ClearBridge International Value 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: 3 - ClearBridge Variable Small Cap Growth Portfolio

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

- **a. Full Name of the Fund:** ClearBridge Variable Small Cap Growth Portfolio

- **b. Series identification number, if any:** S000017007

- **c. LEI:** 5493004OQFKBTJT2N744

- **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?:** 2

- **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 II                | C000047263                                | QLMSTX                       |
|                           2 | Class I                 | C000047262                                | QLMSIX                       |

**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:** —

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

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

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

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

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

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

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

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

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

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

**Investment Advisers Record: 1**

- **i. Full name:** Legg Mason Partners Fund Advisor, LLC

- **ii. SEC file number:** 801-66785

- **iii. CRD number:** 000140432

- **iv. LEI, if any:** 549300POFVK5JLWUL193

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

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

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

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

- **i. Full name:** ClearBridge Investments, LLC

- **ii. SEC file number:** 801-64710

- **iii. CRD number:** 000137028

- **iv. LEI, if any:** 549300L5KZQRDVVXSK45

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vii. Was the sub-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:** BNY Mellon Investment Servicing (US) Inc.

- **ii. SEC file number:** 084-01761

- **iii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

- **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?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

**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:** MA

- **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:** 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:** Virtu Financial, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001OPW2K42CH3884

- **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: 4**

- **i. Full name:** Refinitiv Benchmark Services Limited

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

- **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: 5**

- **i. Full name:** Bank of America Merill Lynch PriceServe

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

- **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: 6**

- **i. Full name:** PricingDirect Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **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: 7**

- **i. Full name:** THE CLEARING HOUSE PAYMENTS COMPANY L.L.C.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300KIB86ZLHRUV723

- **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: 8**

- **i. Full name:** IHS MARKIT GROUP HOLDINGS LIMITED

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

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

**Pricing Services Record: 9**

- **i. Full name:** Refinitiv US LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 213800HQORQAP68CJJ04

- **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:** The Bank of New York Mellon

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

- **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

- **ii. LEI, if any:** 084-01036

- **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

**Shareholder Servicing Agents Record: 2**

- **i. Full name:** BNY Mellon Investment Servicing (US) Inc.

- **ii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

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

- **v. Is the shareholder servicing agent an affiliated person?:** No

- **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?** Yes

**Item C.14. Administrators.**

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

**Administrators Record: 1**

- **i. Full name:** Legg Mason Partners Fund Advisor, LLC

- **ii. LEI, if any, or other identifying number:** 549300POFVK5JLWUL193

- **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)?:** 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:** 008-53089

- **c. CRD number:** 000109064

- **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:** Clarion Partners Securities, LLC

- **b. SEC file number:** 008-69204

- **c. CRD number:** 000166384

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

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

- **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:** ROYCE FUND SERVICES, LLC

- **b. SEC file number:** 008-28663

- **c. CRD number:** 000014470

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

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

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

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

**Broker Dealers Record: 4**

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

- **b. SEC file number:** 008-43206

- **c. CRD number:** 000027884

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

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

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

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

**Item C.16. Brokers.**

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

**Brokers Record: 1**

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

- **ii. SEC file number:** 008-35008

- **iii. CRD number:** 000000079

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $4,691.00

**Brokers Record: 2**

- **i. Full name of broker:** NATIONAL FINANCIAL SERVICES LLC

- **ii. SEC file number:** 008-26740

- **iii. CRD number:** 000013041

- **iv. LEI, if any:** 549300JRHF1MHHWUAW04

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $8,881.66

**Brokers Record: 3**

- **i. Full name of broker:** Merrill Lynch Professional Clearing Corp.

- **ii. SEC file number:** 008-33359

- **iii. CRD number:** 000016139

- **iv. LEI, if any:** 549300PMHS66E71I2D34

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,377.37

**Brokers Record: 4**

- **i. Full name of broker:** WELLS FARGO SECURITIES, LLC

- **ii. SEC file number:** 008-65876

- **iii. CRD number:** 000126292

- **iv. LEI, if any:** VYVVCKR63DVZZN70PB21

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,746.64

**Brokers Record: 5**

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

- **ii. SEC file number:** 008-15074

- **iii. CRD number:** 000002347

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $9,699.40

**Brokers Record: 6**

- **i. Full name of broker:** GOLDMAN SACHS & CO. LLC

- **ii. SEC file number:** 008-00129

- **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:** $4,357.13

**Brokers Record: 7**

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

- **ii. SEC file number:** 008-23669

- **iii. CRD number:** 000007897

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $10,564.60

**Brokers Record: 8**

- **i. Full name of broker:** SUSQUEHANNA FINANCIAL GROUP, LLLP

- **ii. SEC file number:** 008-44325

- **iii. CRD number:** 000035865

- **iv. LEI, if any:** 549300E8QX0ZMRDC2M81

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,850.00

**Brokers Record: 9**

- **i. Full name of broker:** STIFEL NICHOLAS & CO., INC.

- **ii. SEC file number:** 008-01447

- **iii. CRD number:** 000000793

- **iv. LEI, if any:** 5WUVMA08EYG4KEUPW589

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,948.20

**Brokers Record: 10**

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

- **ii. SEC file number:** 008-17574

- **iii. CRD number:** 000007560

- **iv. LEI, if any:** ZI8Q1A8EI8LQFJNM0D94

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,233.44

**Aggregate Commission:** $58,951.07

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

| Name                                      | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| J.P. Morgan Securities LLC                | 008-35008         |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $485,900.00               |
| Merrill Lynch Professional Clearing Corp. | 008-33359         |    000016139 | 549300PMHS66E71I2D34 | NY      | US        | $1,443,907.50             |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $1,929,807.50

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

- **Item C.19.a - Fund's monthly average net assets:** $414,375,081.79

- **Item C.19.b - Money market fund's daily average net assets:** $0.00

**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?** $2,675,000,000.00

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

  - **Line Institutions Record: 1 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

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

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

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

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

  - **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:** THE BANK OF NEW YORK MELLON

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

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

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

  - **Line Institutions Record: 12 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 13 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 14 Name of institution:** CREDIT SUISSE AG

  - **Line Institutions Record: 15 Name of institution:** STANDARD CHARTERED BANK

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

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

  - **Line Institutions Record: 18 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 19 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 20 Name of institution:** THE BANK OF NOVA SCOTIA

- **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         |
| BrandywineGLOBAL-Dynamic US Large Cap Value ETF                | 811-23124         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Franklin Mutual European Fund                                  | 811-05387         |
| ClearBridge Value Trust                                        | 811-22338         |
| Franklin International Equity Fund                             | 811-22338         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Martin Currie Sustainable International Equity ETF             | 811-23124         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Templeton China World Fund                                     | 811-07876         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| ClearBridge International Value Fund                           | 811-06444         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| Franklin Managed Income fund                                   | 811-04986         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin U.S. Small Cap Equity Fund                            | 811-22338         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Franklin High Income Fund                                      | 811-01608         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Templeton Foreign Fund                                         | 811-02781         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Franklin Growth Fund                                           | 811-00537         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Templeton International Climate Change Fund                    | 811-02781         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Western Asset California Municipals Fund                       | 811-04254         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Foreign Smaller Companies Series                               | 811-06135         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin Income Fund                                           | 811-00537         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Western Asset Income Fund                                      | 811-04254         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| International Equity Series                                    | 811-06135         |
| Templeton World Fund                                           | 811-02781         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Templeton International Bond Fund                              | 811-04706         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Franklin Ohio 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: 4 - ClearBridge Variable Aggressive Growth Portfolio

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

- **a. Full Name of the Fund:** ClearBridge Variable Aggressive Growth Portfolio

- **b. Series identification number, if any:** S000016933

- **c. LEI:** 549300XX7SJ7U4LN3L17

- **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?:** 2

- **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 II                | C000047116                                | QLMGTX                       |
|                           2 | Class I                 | C000047115                                | QLMGOX                       |

**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:** —

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

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

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

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

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

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

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

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

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

**Investment Advisers Record: 1**

- **i. Full name:** Legg Mason Partners Fund Advisor, LLC

- **ii. SEC file number:** 801-66785

- **iii. CRD number:** 000140432

- **iv. LEI, if any:** 549300POFVK5JLWUL193

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

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

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

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

- **i. Full name:** ClearBridge Investments, LLC

- **ii. SEC file number:** 801-64710

- **iii. CRD number:** 000137028

- **iv. LEI, if any:** 549300L5KZQRDVVXSK45

- **v. Is the sub-adviser an affiliated person?:** Yes

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

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

**Transfer Agents Record: 1**

- **i. Full name:** BNY Mellon Investment Servicing (US) Inc.

- **ii. SEC file number:** 084-01761

- **iii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

- **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?:** No

**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?** Yes

**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:** 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:** MA

- **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:** Refinitiv US LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 213800HQORQAP68CJJ04

- **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: 4**

- **i. Full name:** Bank of America Merill Lynch PriceServe

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

- **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: 5**

- **i. Full name:** PricingDirect Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **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: 6**

- **i. Full name:** Virtu Financial, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001OPW2K42CH3884

- **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: 7**

- **i. Full name:** THE CLEARING HOUSE PAYMENTS COMPANY L.L.C.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300KIB86ZLHRUV723

- **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: 8**

- **i. Full name:** IHS MARKIT GROUP HOLDINGS LIMITED

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

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

**Pricing Services Record: 9**

- **i. Full name:** Refinitiv Benchmark Services Limited

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

- **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:** The Bank of New York Mellon

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

- **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

- **ii. LEI, if any:** 084-01036

- **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

**Shareholder Servicing Agents Record: 2**

- **i. Full name:** BNY Mellon Investment Servicing (US) Inc.

- **ii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

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

- **v. Is the shareholder servicing agent an affiliated person?:** No

- **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?** Yes

**Item C.14. Administrators.**

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

**Administrators Record: 1**

- **i. Full name:** Legg Mason Partners Fund Advisor, LLC

- **ii. LEI, if any, or other identifying number:** 549300POFVK5JLWUL193

- **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)?:** 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:** 008-53089

- **c. CRD number:** 000109064

- **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:** ROYCE FUND SERVICES, LLC

- **b. SEC file number:** 008-28663

- **c. CRD number:** 000014470

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

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

- **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:** Clarion Partners Securities, LLC

- **b. SEC file number:** 008-69204

- **c. CRD number:** 000166384

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

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

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

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

**Broker Dealers Record: 4**

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

- **b. SEC file number:** 008-43206

- **c. CRD number:** 000027884

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

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

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

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

**Item C.16. Brokers.**

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

**Brokers Record: 1**

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

- **ii. SEC file number:** 008-17574

- **iii. CRD number:** 000007560

- **iv. LEI, if any:** ZI8Q1A8EI8LQFJNM0D94

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,124.00

**Brokers Record: 2**

- **i. Full name of broker:** MORGAN STANLEY & CO. LLC

- **ii. SEC file number:** 008-15869

- **iii. CRD number:** 000008209

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $11,759.76

**Brokers Record: 3**

- **i. Full name of broker:** WELLS FARGO SECURITIES, LLC

- **ii. SEC file number:** 008-65876

- **iii. CRD number:** 000126292

- **iv. LEI, if any:** VYVVCKR63DVZZN70PB21

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $801.01

**Brokers Record: 4**

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

- **ii. SEC file number:** 008-22651

- **iii. CRD number:** 000007654

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $4,524.33

**Brokers Record: 5**

- **i. Full name of broker:** CREDIT SUISSE SECURITIES (USA) LLC

- **ii. SEC file number:** 008-00422

- **iii. CRD number:** 000000816

- **iv. LEI, if any:** 1V8Y6QCX6YMJ2OELII46

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,896.00

**Brokers Record: 6**

- **i. Full name of broker:** NATIONAL FINANCIAL SERVICES LLC

- **ii. SEC file number:** 008-26740

- **iii. CRD number:** 000013041

- **iv. LEI, if any:** 549300JRHF1MHHWUAW04

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,041.56

**Brokers Record: 7**

- **i. Full name of broker:** SANFORD C. BERNSTEIN & CO., LLC

- **ii. SEC file number:** 008-52942

- **iii. CRD number:** 000104474

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,089.32

**Brokers Record: 8**

- **i. Full name of broker:** Raymond James & Associates, Inc.

- **ii. SEC file number:** 008-10999

- **iii. CRD number:** 000000705

- **iv. LEI, if any:** U4ONQX15J3RO8XCKE979

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,508.24

**Brokers Record: 9**

- **i. Full name of broker:** CITIGROUP GLOBAL MARKETS INC.

- **ii. SEC file number:** 008-08177

- **iii. CRD number:** 000007059

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $3,152.24

**Brokers Record: 10**

- **i. Full name of broker:** GOLDMAN SACHS & CO. LLC

- **ii. SEC file number:** 008-00129

- **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:** $1,872.79

**Aggregate Commission:** $34,258.30

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $0.00

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

- **Item C.19.a - Fund's monthly average net assets:** $223,638,916.32

- **Item C.19.b - Money market fund's daily average net assets:** $0.00

**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?** $2,675,000,000.00

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

  - **Line Institutions Record: 1 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

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

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

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

  - **Line Institutions Record: 5 Name of institution:** STANDARD CHARTERED BANK

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

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

  - **Line Institutions Record: 8 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

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

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

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

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

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

  - **Line Institutions Record: 14 Name of institution:** ROYAL BANK OF CANADA

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

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

  - **Line Institutions Record: 17 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 18 Name of institution:** CREDIT SUISSE AG

  - **Line Institutions Record: 19 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 20 Name of institution:** THE BANK OF NOVA SCOTIA

- **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 Appreciation Fund                                  | 811-06444         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| BrandywineGLOBAL-Dynamic US Large Cap Value ETF                | 811-23124         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Franklin Income Fund                                           | 811-00537         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Franklin Growth Fund                                           | 811-00537         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Martin Currie Sustainable International Equity ETF             | 811-23124         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Templeton China World Fund                                     | 811-07876         |
| Franklin International Growth Fund                             | 811-10157         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Franklin High Income Fund                                      | 811-01608         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Templeton Foreign Fund                                         | 811-02781         |
| Franklin Managed Income fund                                   | 811-04986         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Templeton World Fund                                           | 811-02781         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| ClearBridge International Value Fund                           | 811-06444         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Templeton International Bond Fund                              | 811-04706         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Western Asset Income Fund                                      | 811-04254         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Templeton International Climate Change Fund                    | 811-02781         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Franklin U.S. Small Cap Equity Fund                            | 811-22338         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| ClearBridge Value Trust                                        | 811-22338         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| International Equity Series                                    | 811-06135         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Franklin Mutual European Fund                                  | 811-05387         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Western Asset Intermediate 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: 5 - Franklin Multi-Asset Variable Conservative Growth

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

- **a. Full Name of the Fund:** Franklin Multi-Asset Variable Conservative Growth

- **b. Series identification number, if any:** S000017009

- **c. LEI:** 5493004Z8YFHFVN7UJ68

- **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?:** 2

- **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 II                | C000183009                                | QVCIIX                       |
|                           2 | Class I                 | C000047266                                | QLMLFX                       |

**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

- [x] 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

- [ ] 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:** —

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

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

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

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

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

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

**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:** Legg Mason Partners Fund Advisor, LLC

- **ii. SEC file number:** 801-66785

- **iii. CRD number:** 000140432

- **iv. LEI, if any:** 549300POFVK5JLWUL193

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

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

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

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

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

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

- **iii. CRD number:** 000104517

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

- **v. Is the sub-adviser an affiliated person?:** Yes

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

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

**Transfer Agents Record: 1**

- **i. Full name:** BNY Mellon Investment Servicing (US) Inc.

- **ii. SEC file number:** 084-01761

- **iii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

- **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?:** No

**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?** Yes

**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:** 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:** Refinitiv Benchmark Services Limited

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

- **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:** Refinitiv US LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 213800HQORQAP68CJJ04

- **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: 4**

- **i. Full name:** PricingDirect Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **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: 5**

- **i. Full name:** THE CLEARING HOUSE PAYMENTS COMPANY L.L.C.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300KIB86ZLHRUV723

- **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: 6**

- **i. Full name:** IHS MARKIT GROUP HOLDINGS LIMITED

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

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

**Pricing Services Record: 7**

- **i. Full name:** Bank of America Merill Lynch PriceServe

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

- **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: 8**

- **i. Full name:** Virtu Financial, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001OPW2K42CH3884

- **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: 9**

- **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:** MA

- **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:** The Bank of New York Mellon

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

- **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:** BNY Mellon Investment Servicing (US) Inc.

- **ii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

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

- **v. Is the shareholder servicing agent an affiliated person?:** No

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

**Shareholder Servicing Agents Record: 2**

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

- **ii. LEI, if any:** 084-01036

- **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?** Yes

**Item C.14. Administrators.**

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

**Administrators Record: 1**

- **i. Full name:** Legg Mason Partners Fund Advisor, LLC

- **ii. LEI, if any, or other identifying number:** 549300POFVK5JLWUL193

- **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)?:** 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:** 008-53089

- **c. CRD number:** 000109064

- **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:** Clarion Partners Securities, LLC

- **b. SEC file number:** 008-69204

- **c. CRD number:** 000166384

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

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

- **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:** ROYCE FUND SERVICES, LLC

- **b. SEC file number:** 008-28663

- **c. CRD number:** 000014470

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

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

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

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

**Broker Dealers Record: 4**

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

- **b. SEC file number:** 008-43206

- **c. CRD number:** 000027884

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

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

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

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

**Item C.16. Brokers.**

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

**Brokers Record: 1**

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

- **ii. SEC file number:** 008-35008

- **iii. CRD number:** 000000079

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $128.76

**Brokers Record: 2**

- **i. Full name of broker:** JANE STREET CAPITAL, LLC

- **ii. SEC file number:** 008-52275

- **iii. CRD number:** 000103782

- **iv. LEI, if any:** 549300ZM16HMPEPNV857

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $128.10

**Aggregate Commission:** $256.86

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $0.00

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

- **Item C.19.a - Fund's monthly average net assets:** $80,636,558.15

- **Item C.19.b - Money market fund's daily average net assets:** $0.00

**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?** $2,675,000,000.00

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

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

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

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

  - **Line Institutions Record: 4 Name of institution:** STATE STREET BANK AND TRUST COMPANY

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

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

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

  - **Line Institutions Record: 8 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

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

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

  - **Line Institutions Record: 11 Name of institution:** CREDIT SUISSE AG

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

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

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

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

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

  - **Line Institutions Record: 17 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 18 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 19 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 20 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   |
|:---|:---|
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Templeton International Bond Fund                              | 811-04706         |
| Templeton China World Fund                                     | 811-07876         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Templeton Developing Markets Trust                             | 811-06378         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| BrandywineGLOBAL-Dynamic US Large Cap Value ETF                | 811-23124         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Franklin International Equity Fund                             | 811-22338         |
| Templeton International Climate Change Fund                    | 811-02781         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Franklin Global Allocation Fund                                | 811-07851         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Templeton World Fund                                           | 811-02781         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| ClearBridge Value Trust                                        | 811-22338         |
| Franklin International Small Cap Fund                          | 811-10157         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| International Equity Series                                    | 811-06135         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Martin Currie Sustainable International Equity ETF             | 811-23124         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Templeton Foreign Fund                                         | 811-02781         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Western Asset Income Fund                                      | 811-04254         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Franklin High Income Fund                                      | 811-01608         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| ClearBridge International Value Fund                           | 811-06444         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin Growth Fund                                           | 811-00537         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Franklin Mutual European Fund                                  | 811-05387         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Franklin Income Fund                                           | 811-00537         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| Templeton Global Bond Fund                                     | 811-04706         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Franklin Utilities Fund                                        | 811-00537         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin Managed Income fund                                   | 811-04986         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| Franklin U.S. Small Cap Equity Fund                            | 811-22338         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |

- **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 - ClearBridge Variable Appreciation Portfolio

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

- **a. Full Name of the Fund:** ClearBridge Variable Appreciation Portfolio

- **b. Series identification number, if any:** S000017013

- **c. LEI:** 549300JPS8VIXKYYNE50

- **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?:** 2

- **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 I                 | C000047270                                | QLMAOX                       |
|                           2 | Class II                | C000053699                                | CVAPX                        |

**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:** —

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

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

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

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

**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:** Legg Mason Partners Fund Advisor, LLC

- **ii. SEC file number:** 801-66785

- **iii. CRD number:** 000140432

- **iv. LEI, if any:** 549300POFVK5JLWUL193

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

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

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

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

- **i. Full name:** ClearBridge Investments, LLC

- **ii. SEC file number:** 801-64710

- **iii. CRD number:** 000137028

- **iv. LEI, if any:** 549300L5KZQRDVVXSK45

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vii. Was the sub-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:** BNY Mellon Investment Servicing (US) Inc.

- **ii. SEC file number:** 084-01761

- **iii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

- **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?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

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

**Pricing Services Record: 1**

- **i. Full name:** Refinitiv US LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 213800HQORQAP68CJJ04

- **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:** Refinitiv Benchmark Services Limited

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

- **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:** Virtu Financial, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001OPW2K42CH3884

- **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: 4**

- **i. Full name:** PricingDirect Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **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: 5**

- **i. Full name:** THE CLEARING HOUSE PAYMENTS COMPANY L.L.C.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300KIB86ZLHRUV723

- **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: 6**

- **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:** MA

- **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: 7**

- **i. Full name:** Bank of America Merill Lynch PriceServe

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

- **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: 8**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **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: 9**

- **i. Full name:** IHS MARKIT GROUP HOLDINGS LIMITED

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

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

- **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:** The Bank of New York Mellon

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

- **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:** BNY Mellon Investment Servicing (US) Inc.

- **ii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

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

- **v. Is the shareholder servicing agent an affiliated person?:** No

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

**Shareholder Servicing Agents Record: 2**

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

- **ii. LEI, if any:** 084-01036

- **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?** Yes

**Item C.14. Administrators.**

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

**Administrators Record: 1**

- **i. Full name:** Legg Mason Partners Fund Advisor, LLC

- **ii. LEI, if any, or other identifying number:** 549300POFVK5JLWUL193

- **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)?:** 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:** ROYCE FUND SERVICES, LLC

- **b. SEC file number:** 008-28663

- **c. CRD number:** 000014470

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

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

- **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:** 008-43206

- **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:** 008-53089

- **c. CRD number:** 000109064

- **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: 4**

- **a. Full name:** Clarion Partners Securities, LLC

- **b. SEC file number:** 008-69204

- **c. CRD number:** 000166384

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

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

- **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:** Raymond James & Associates, Inc.

- **ii. SEC file number:** 008-10999

- **iii. CRD number:** 000000705

- **iv. LEI, if any:** U4ONQX15J3RO8XCKE979

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $9,123.11

**Brokers Record: 2**

- **i. Full name of broker:** SANFORD C. BERNSTEIN & CO., LLC

- **ii. SEC file number:** 008-52942

- **iii. CRD number:** 000104474

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,710.09

**Brokers Record: 3**

- **i. Full name of broker:** Stifel, Nicolaus & Co., Inc.

- **ii. SEC file number:** 008-01447

- **iii. CRD number:** 000000793

- **iv. LEI, if any:** 5WUVMA08EYG4KEUPW589

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $3,321.03

**Brokers Record: 4**

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

- **ii. SEC file number:** 008-22651

- **iii. CRD number:** 000007654

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $7,464.29

**Brokers Record: 5**

- **i. Full name of broker:** J.P. MORGAN SECURITIES LLC

- **ii. SEC file number:** 008-35008

- **iii. CRD number:** 000000079

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,693.25

**Brokers Record: 6**

- **i. Full name of broker:** CREDIT SUISSE SECURITIES (USA) LLC

- **ii. SEC file number:** 008-00422

- **iii. CRD number:** 000000816

- **iv. LEI, if any:** 1V8Y6QCX6YMJ2OELII46

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,777.72

**Brokers Record: 7**

- **i. Full name of broker:** MORGAN STANLEY & CO. LLC

- **ii. SEC file number:** 008-15869

- **iii. CRD number:** 000008209

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $6,306.76

**Brokers Record: 8**

- **i. Full name of broker:** NATIONAL FINANCIAL SERVICES LLC

- **ii. SEC file number:** 008-26740

- **iii. CRD number:** 000013041

- **iv. LEI, if any:** 549300JRHF1MHHWUAW04

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $4,634.16

**Brokers Record: 9**

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

- **ii. SEC file number:** 008-17574

- **iii. CRD number:** 000007560

- **iv. LEI, if any:** ZI8Q1A8EI8LQFJNM0D94

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $7,687.05

**Brokers Record: 10**

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

- **ii. SEC file number:** 008-08177

- **iii. CRD number:** 000007059

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $5,025.98

**Aggregate Commission:** $57,942.09

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $0.00

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

- **Item C.19.a - Fund's monthly average net assets:** $951,533,414.64

- **Item C.19.b - Money market fund's daily average net assets:** $0.00

**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?** $2,675,000,000.00

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

  - **Line Institutions Record: 1 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 2 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 3 Name of institution:** STATE STREET BANK AND TRUST COMPANY

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

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

  - **Line Institutions Record: 6 Name of institution:** THE BANK OF NOVA SCOTIA

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

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

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

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

  - **Line Institutions Record: 11 Name of institution:** CREDIT SUISSE AG

  - **Line Institutions Record: 12 Name of institution:** CITIBANK, N.A.

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

  - **Line Institutions Record: 14 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

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

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

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

  - **Line Institutions Record: 18 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 19 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 20 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   |
|:---|:---|
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| ClearBridge International Value Fund                           | 811-06444         |
| Franklin Growth Fund                                           | 811-00537         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Templeton China World Fund                                     | 811-07876         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Franklin Natural Resources Fund                                | 811-06243         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Martin Currie Sustainable International Equity ETF             | 811-23124         |
| Franklin High Income Fund                                      | 811-01608         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| ClearBridge Value Trust                                        | 811-22338         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| International Equity Series                                    | 811-06135         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Franklin Managed Income fund                                   | 811-04986         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Franklin Dynatech Fund                                         | 811-00537         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Templeton International Climate Change Fund                    | 811-02781         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Franklin Income Fund                                           | 811-00537         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| BrandywineGLOBAL-Dynamic US Large Cap Value ETF                | 811-23124         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Templeton World Fund                                           | 811-02781         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Templeton International Bond Fund                              | 811-04706         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Western Asset Income Fund                                      | 811-04254         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin U.S. Small Cap Equity Fund                            | 811-22338         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Franklin Mutual European Fund                                  | 811-05387         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Templeton Foreign Fund                                         | 811-02781         |
| Franklin International Equity Fund                             | 811-22338         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |

- **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 Templeton Moderately Aggressive Model Portfolio

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

- **a. Full Name of the Fund:** Franklin Templeton Moderately Aggressive Model Portfolio

- **b. Series identification number, if any:** S000068274

- **c. LEI:** 5493001JQ7JYNCZAGH30

- **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?:** 2

- **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 I                 | C000218581                                | QLMACX                       |
|                           2 | Class II                | C000218580                                | QLMADX                       |

**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

- [x] 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

- [ ] 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:** —

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

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

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

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

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

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

**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:** Legg Mason Partners Fund Advisor, LLC

- **ii. SEC file number:** 801-66785

- **iii. CRD number:** 000140432

- **iv. LEI, if any:** 549300POFVK5JLWUL193

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

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

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

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

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

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

- **iii. CRD number:** 000104517

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

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vii. Was the sub-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:** BNY Mellon Investment Servicing (US) Inc.

- **ii. SEC file number:** 084-01761

- **iii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

- **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?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

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

**Pricing Services Record: 1**

- **i. Full name:** PricingDirect Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **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:** Refinitiv US LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 213800HQORQAP68CJJ04

- **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:** Refinitiv Benchmark Services Limited

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

- **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: 4**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **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: 5**

- **i. Full name:** THE CLEARING HOUSE PAYMENTS COMPANY L.L.C.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300KIB86ZLHRUV723

- **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: 6**

- **i. Full name:** Virtu Financial, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001OPW2K42CH3884

- **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: 7**

- **i. Full name:** IHS MARKIT GROUP HOLDINGS LIMITED

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

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

**Pricing Services Record: 8**

- **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:** MA

- **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: 9**

- **i. Full name:** Bank of America Merill Lynch PriceServe

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

- **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:** The Bank of New York Mellon

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

- **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

- **ii. LEI, if any:** 084-01036

- **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

**Shareholder Servicing Agents Record: 2**

- **i. Full name:** BNY Mellon Investment Servicing (US) Inc.

- **ii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

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

- **v. Is the shareholder servicing agent an affiliated person?:** No

- **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?** Yes

**Item C.14. Administrators.**

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

**Administrators Record: 1**

- **i. Full name:** Legg Mason Partners Fund Advisor, LLC

- **ii. LEI, if any, or other identifying number:** 549300POFVK5JLWUL193

- **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)?:** 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:** 008-53089

- **c. CRD number:** 000109064

- **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:** 008-43206

- **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:** ROYCE FUND SERVICES, LLC

- **b. SEC file number:** 008-28663

- **c. CRD number:** 000014470

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

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

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

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

**Broker Dealers Record: 4**

- **a. Full name:** Clarion Partners Securities, LLC

- **b. SEC file number:** 008-69204

- **c. CRD number:** 000166384

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

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

- **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.b - Aggregate value of principal purchase/sale transactions:** $0.00

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

- **Item C.19.a - Fund's monthly average net assets:** $1,082,620,636.62

- **Item C.19.b - Money market fund's daily average net assets:** $0.00

**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?** $2,675,000,000.00

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

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

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

  - **Line Institutions Record: 3 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **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:** UMB BANK, N.A.

  - **Line Institutions Record: 7 Name of institution:** CREDIT SUISSE AG

  - **Line Institutions Record: 8 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 9 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 10 Name of institution:** GOLDMAN SACHS BANK USA

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

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

  - **Line Institutions Record: 13 Name of institution:** THE BANK OF NOVA SCOTIA

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

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

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

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

  - **Line Institutions Record: 18 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 19 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 20 Name of institution:** BARCLAYS BANK PLC

- **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 Short Duration Municipal Income Fund             | 811-04254         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin High Income Fund                                      | 811-01608         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Templeton International Climate Change Fund                    | 811-02781         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| International Equity Series                                    | 811-06135         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| ClearBridge International Value Fund                           | 811-06444         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Templeton China World Fund                                     | 811-07876         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin Income Fund                                           | 811-00537         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Franklin International Equity Fund                             | 811-22338         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Franklin U.S. Small Cap Equity Fund                            | 811-22338         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Martin Currie Sustainable International Equity ETF             | 811-23124         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin Growth Fund                                           | 811-00537         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Templeton International Bond Fund                              | 811-04706         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin Managed Income fund                                   | 811-04986         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Templeton World Fund                                           | 811-02781         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| ClearBridge Value Trust                                        | 811-22338         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Templeton Foreign Fund                                         | 811-02781         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Franklin Mutual European Fund                                  | 811-05387         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Templeton Global Bond Fund                                     | 811-04706         |
| BrandywineGLOBAL-Dynamic US Large Cap Value ETF                | 811-23124         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Western Asset Income Fund                                      | 811-04254         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |

- **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 - ClearBridge Variable Dividend Strategy Portfolio

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

- **a. Full Name of the Fund:** ClearBridge Variable Dividend Strategy Portfolio

- **b. Series identification number, if any:** S000008304

- **c. LEI:** 5493002UOIQFVG3SUR80

- **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?:** 2

- **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 II                | C000022693                                | QLMETX                       |
|                           2 | Class I                 | C000047600                                | QLMEIX                       |

**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:** —

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

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

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

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

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

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

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

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

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

**Investment Advisers Record: 1**

- **i. Full name:** Legg Mason Partners Fund Advisor, LLC

- **ii. SEC file number:** 801-66785

- **iii. CRD number:** 000140432

- **iv. LEI, if any:** 549300POFVK5JLWUL193

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

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

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

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

- **i. Full name:** ClearBridge Investments, LLC

- **ii. SEC file number:** 801-64710

- **iii. CRD number:** 000137028

- **iv. LEI, if any:** 549300L5KZQRDVVXSK45

- **v. Is the sub-adviser an affiliated person?:** Yes

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

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

**Transfer Agents Record: 1**

- **i. Full name:** BNY Mellon Investment Servicing (US) Inc.

- **ii. SEC file number:** 084-01761

- **iii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

- **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?:** No

**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?** Yes

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

**Pricing Services Record: 1**

- **i. Full name:** Bank of America Merill Lynch PriceServe

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

- **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:** Refinitiv US LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 213800HQORQAP68CJJ04

- **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:** ICE Data Pricing & Reference Data, LLC

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

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

- **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:** PricingDirect Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **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: 5**

- **i. Full name:** Virtu Financial, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001OPW2K42CH3884

- **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: 6**

- **i. Full name:** IHS MARKIT GROUP HOLDINGS LIMITED

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

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

**Pricing Services Record: 7**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **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: 8**

- **i. Full name:** THE CLEARING HOUSE PAYMENTS COMPANY L.L.C.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300KIB86ZLHRUV723

- **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: 9**

- **i. Full name:** Refinitiv Benchmark Services Limited

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

- **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:** The Bank of New York Mellon

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

- **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:** BNY Mellon Investment Servicing (US) Inc.

- **ii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

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

- **v. Is the shareholder servicing agent an affiliated person?:** No

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

**Shareholder Servicing Agents Record: 2**

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

- **ii. LEI, if any:** 084-01036

- **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?** Yes

**Item C.14. Administrators.**

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

**Administrators Record: 1**

- **i. Full name:** Legg Mason Partners Fund Advisor, LLC

- **ii. LEI, if any, or other identifying number:** 549300POFVK5JLWUL193

- **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)?:** 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:** Clarion Partners Securities, LLC

- **b. SEC file number:** 008-69204

- **c. CRD number:** 000166384

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

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

- **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:** 008-43206

- **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:** ROYCE FUND SERVICES, LLC

- **b. SEC file number:** 008-28663

- **c. CRD number:** 000014470

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

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

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

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

**Broker Dealers Record: 4**

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

- **b. SEC file number:** 008-53089

- **c. CRD number:** 000109064

- **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:** CREDIT SUISSE SECURITIES (USA) LLC

- **ii. SEC file number:** 008-00422

- **iii. CRD number:** 000000816

- **iv. LEI, if any:** 1V8Y6QCX6YMJ2OELII46

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,708.68

**Brokers Record: 2**

- **i. Full name of broker:** BARCLAYS CAPITAL, INC.

- **ii. SEC file number:** 008-41342

- **iii. CRD number:** 000019714

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $7,488.95

**Brokers Record: 3**

- **i. Full name of broker:** GOLDMAN SACHS & CO. LLC

- **ii. SEC file number:** 008-00129

- **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:** $3,868.63

**Brokers Record: 4**

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

- **ii. SEC file number:** 008-35008

- **iii. CRD number:** 000000079

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $7,825.29

**Brokers Record: 5**

- **i. Full name of broker:** Merrill Lynch Professional Clearing Corp.

- **ii. SEC file number:** 008-33359

- **iii. CRD number:** 000016139

- **iv. LEI, if any:** 549300PMHS66E71I2D34

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $12,925.81

**Brokers Record: 6**

- **i. Full name of broker:** MORGAN STANLEY & CO. LLC

- **ii. SEC file number:** 008-15869

- **iii. CRD number:** 000008209

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $3,375.37

**Brokers Record: 7**

- **i. Full name of broker:** Raymond James & Associates, Inc.

- **ii. SEC file number:** 008-10999

- **iii. CRD number:** 000000705

- **iv. LEI, if any:** U4ONQX15J3RO8XCKE979

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,579.12

**Brokers Record: 8**

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

- **ii. SEC file number:** 008-17574

- **iii. CRD number:** 000007560

- **iv. LEI, if any:** ZI8Q1A8EI8LQFJNM0D94

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,391.50

**Brokers Record: 9**

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

- **ii. SEC file number:** 008-23669

- **iii. CRD number:** 000007897

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $11,723.93

**Brokers Record: 10**

- **i. Full name of broker:** NATIONAL FINANCIAL SERVICES LLC

- **ii. SEC file number:** 008-26740

- **iii. CRD number:** 000013041

- **iv. LEI, if any:** 549300JRHF1MHHWUAW04

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,047.22

**Aggregate Commission:** $63,343.95

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $0.00

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

- **Item C.19.a - Fund's monthly average net assets:** $490,146,094.32

- **Item C.19.b - Money market fund's daily average net assets:** $0.00

**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?** $2,675,000,000.00

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

  - **Line Institutions Record: 1 Name of institution:** ROYAL BANK OF CANADA

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

  - **Line Institutions Record: 3 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 4 Name of institution:** CREDIT SUISSE AG

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

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

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

  - **Line Institutions Record: 8 Name of institution:** THE BANK OF NOVA SCOTIA

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

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

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

  - **Line Institutions Record: 12 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 13 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 14 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 15 Name of institution:** STATE STREET BANK AND TRUST COMPANY

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

  - **Line Institutions Record: 17 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 18 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  - **Line Institutions Record: 19 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 20 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   |
|:---|:---|
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| BrandywineGLOBAL-Dynamic US Large Cap Value ETF                | 811-23124         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Templeton World Fund                                           | 811-02781         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Franklin Income Fund                                           | 811-00537         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Franklin Growth Fund                                           | 811-00537         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| Foreign Smaller Companies Series                               | 811-06135         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Templeton International Climate Change Fund                    | 811-02781         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Martin Currie Sustainable International Equity ETF             | 811-23124         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Franklin U.S. Small Cap Equity Fund                            | 811-22338         |
| Franklin Mutual European Fund                                  | 811-05387         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Franklin International Equity Fund                             | 811-22338         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Templeton International Bond Fund                              | 811-04706         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Franklin International Small Cap Fund                          | 811-10157         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Western Asset California Municipals Fund                       | 811-04254         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| ClearBridge International Value Fund                           | 811-06444         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Western Asset Income Fund                                      | 811-04254         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Templeton China World Fund                                     | 811-07876         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin Managed Income fund                                   | 811-04986         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Franklin High Income Fund                                      | 811-01608         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| International Equity Series                                    | 811-06135         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Templeton Foreign Fund                                         | 811-02781         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Franklin International Growth Fund                             | 811-10157         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| ClearBridge Value Trust                                        | 811-22338         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Franklin Real Estate Securities Fund                           | 811-08034         |

- **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 - ClearBridge Variable Mid Cap Portfolio

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

- **a. Full Name of the Fund:** ClearBridge Variable Mid Cap Portfolio

- **b. Series identification number, if any:** S000016937

- **c. LEI:** 549300V25RD6Q1KR3694

- **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?:** 2

- **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 II                | C000047122                                | QLMPTX                       |
|                           2 | Class I                 | C000047121                                | QLMMIX                       |

**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:** —

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

**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 (17 CFR 270.18f-4)

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

- 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:** Legg Mason Partners Fund Advisor, LLC

- **ii. SEC file number:** 801-66785

- **iii. CRD number:** 000140432

- **iv. LEI, if any:** 549300POFVK5JLWUL193

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

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

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

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

- **i. Full name:** ClearBridge Investments, LLC

- **ii. SEC file number:** 801-64710

- **iii. CRD number:** 000137028

- **iv. LEI, if any:** 549300L5KZQRDVVXSK45

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vii. Was the sub-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:** BNY Mellon Investment Servicing (US) Inc.

- **ii. SEC file number:** 084-01761

- **iii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

- **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?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

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

**Pricing Services Record: 1**

- **i. Full name:** Virtu Financial, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001OPW2K42CH3884

- **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:** PricingDirect Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **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:** IHS MARKIT GROUP HOLDINGS LIMITED

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

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

**Pricing Services Record: 4**

- **i. Full name:** Refinitiv US LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 213800HQORQAP68CJJ04

- **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: 5**

- **i. Full name:** Bank of America Merill Lynch PriceServe

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

- **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: 6**

- **i. Full name:** THE CLEARING HOUSE PAYMENTS COMPANY L.L.C.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300KIB86ZLHRUV723

- **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: 7**

- **i. Full name:** Refinitiv Benchmark Services Limited

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

- **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: 8**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **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: 9**

- **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:** MA

- **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:** The Bank of New York Mellon

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

- **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

- **ii. LEI, if any:** 084-01036

- **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

**Shareholder Servicing Agents Record: 2**

- **i. Full name:** BNY Mellon Investment Servicing (US) Inc.

- **ii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

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

- **v. Is the shareholder servicing agent an affiliated person?:** No

- **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?** Yes

**Item C.14. Administrators.**

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

**Administrators Record: 1**

- **i. Full name:** Legg Mason Partners Fund Advisor, LLC

- **ii. LEI, if any, or other identifying number:** 549300POFVK5JLWUL193

- **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)?:** 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:** 008-43206

- **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:** ROYCE FUND SERVICES, LLC

- **b. SEC file number:** 008-28663

- **c. CRD number:** 000014470

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

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

- **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:** Clarion Partners Securities, LLC

- **b. SEC file number:** 008-69204

- **c. CRD number:** 000166384

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

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

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

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

**Broker Dealers Record: 4**

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

- **b. SEC file number:** 008-53089

- **c. CRD number:** 000109064

- **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:** STIFEL NICHOLAS & CO., INC.

- **ii. SEC file number:** 008-01447

- **iii. CRD number:** 000000793

- **iv. LEI, if any:** 5WUVMA08EYG4KEUPW589

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $7,388.36

**Brokers Record: 2**

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

- **ii. SEC file number:** 008-17574

- **iii. CRD number:** 000007560

- **iv. LEI, if any:** ZI8Q1A8EI8LQFJNM0D94

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $10,250.94

**Brokers Record: 3**

- **i. Full name of broker:** NATIONAL FINANCIAL SERVICES LLC

- **ii. SEC file number:** 008-26740

- **iii. CRD number:** 000013041

- **iv. LEI, if any:** 549300JRHF1MHHWUAW04

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $7,512.44

**Brokers Record: 4**

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

- **ii. SEC file number:** 008-23669

- **iii. CRD number:** 000007897

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $13,999.89

**Brokers Record: 5**

- **i. Full name of broker:** SANFORD C. BERNSTEIN & CO., LLC

- **ii. SEC file number:** 008-52942

- **iii. CRD number:** 000104474

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $3,785.39

**Brokers Record: 6**

- **i. Full name of broker:** MORGAN STANLEY & CO. LLC

- **ii. SEC file number:** 008-15869

- **iii. CRD number:** 000008209

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $3,887.43

**Brokers Record: 7**

- **i. Full name of broker:** JONESTRADING

- **ii. SEC file number:** 008-26089

- **iii. CRD number:** 000006888

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $3,924.84

**Brokers Record: 8**

- **i. Full name of broker:** GOLDMAN SACHS & CO. LLC

- **ii. SEC file number:** 008-00129

- **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:** $12,464.23

**Brokers Record: 9**

- **i. Full name of broker:** BMO CAPITAL MARKETS CORP.

- **ii. SEC file number:** 008-34344

- **iii. CRD number:** 000016686

- **iv. LEI, if any:** RUC0QBLBRPRCU4W1NE59

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $8,928.61

**Brokers Record: 10**

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

- **ii. SEC file number:** 008-35008

- **iii. CRD number:** 000000079

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $9,614.96

**Aggregate Commission:** $98,325.59

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

| Name                          | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| CitiGroup Global Markets Inc. | 008-08177         |    000007059 | MBNUM2BPBDO7JBLYG310 | NY      | US        | $297,600.00               |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $297,600.00

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

- **Item C.19.a - Fund's monthly average net assets:** $235,382,198.17

- **Item C.19.b - Money market fund's daily average net assets:** $0.00

**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?** $2,675,000,000.00

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

  - **Line Institutions Record: 1 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

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

  - **Line Institutions Record: 3 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 4 Name of institution:** THE BANK OF NEW YORK MELLON

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

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

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

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

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

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

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

  - **Line Institutions Record: 12 Name of institution:** CITIBANK, N.A.

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

  - **Line Institutions Record: 14 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

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

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

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

  - **Line Institutions Record: 18 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 19 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 20 Name of institution:** CREDIT SUISSE AG

- **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         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| Templeton World Fund                                           | 811-02781         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| Franklin Natural Resources Fund                                | 811-06243         |
| ClearBridge Value Trust                                        | 811-22338         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Templeton International Bond Fund                              | 811-04706         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| ClearBridge International Value Fund                           | 811-06444         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Franklin Managed Income fund                                   | 811-04986         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Templeton Foreign Fund                                         | 811-02781         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin International Equity Fund                             | 811-22338         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Franklin Mutual Global Discovery 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 2030 Retirement Target Fund                 | 811-07851         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Franklin High Income Fund                                      | 811-01608         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Franklin Income Fund                                           | 811-00537         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Franklin Mutual European Fund                                  | 811-05387         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin Growth Fund                                           | 811-00537         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Franklin U.S. Small Cap Equity Fund                            | 811-22338         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Templeton China World Fund                                     | 811-07876         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Templeton International Climate Change Fund                    | 811-02781         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| International Equity Series                                    | 811-06135         |
| BrandywineGLOBAL-Dynamic US Large Cap Value ETF                | 811-23124         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Martin Currie Sustainable International Equity ETF             | 811-23124         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Western Asset Income Fund                                      | 811-04254         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Franklin Total Return Fund                                     | 811-04986         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Franklin Dynatech Fund                                         | 811-00537         |

- **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 Templeton Moderately Conservative Model Portfolio

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

- **a. Full Name of the Fund:** Franklin Templeton Moderately Conservative Model Portfolio

- **b. Series identification number, if any:** S000068275

- **c. LEI:** 549300PJG3C9WJK3OL06

- **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?:** 2

- **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 I                 | C000218582                                | QLMAGX                       |
|                           2 | Class II                | C000218583                                | QLMAHX                       |

**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

- [x] 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

- [ ] 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:** —

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

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

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

- 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))

**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:** Legg Mason Partners Fund Advisor, LLC

- **ii. SEC file number:** 801-66785

- **iii. CRD number:** 000140432

- **iv. LEI, if any:** 549300POFVK5JLWUL193

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

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

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

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

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

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

- **iii. CRD number:** 000104517

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

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vii. Was the sub-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:** BNY Mellon Investment Servicing (US) Inc.

- **ii. SEC file number:** 084-01761

- **iii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

- **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?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

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

**Pricing Services Record: 1**

- **i. Full name:** Refinitiv Benchmark Services Limited

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

- **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:** Virtu Financial, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001OPW2K42CH3884

- **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:** 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: 4**

- **i. Full name:** PricingDirect Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **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: 5**

- **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:** MA

- **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: 6**

- **i. Full name:** Refinitiv US LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 213800HQORQAP68CJJ04

- **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: 7**

- **i. Full name:** Bank of America Merill Lynch PriceServe

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

- **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: 8**

- **i. Full name:** IHS MARKIT GROUP HOLDINGS LIMITED

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

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

**Pricing Services Record: 9**

- **i. Full name:** THE CLEARING HOUSE PAYMENTS COMPANY L.L.C.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300KIB86ZLHRUV723

- **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:** The Bank of New York Mellon

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

- **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:** BNY Mellon Investment Servicing (US) Inc.

- **ii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

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

- **v. Is the shareholder servicing agent an affiliated person?:** No

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

**Shareholder Servicing Agents Record: 2**

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

- **ii. LEI, if any:** 084-01036

- **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?** Yes

**Item C.14. Administrators.**

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

**Administrators Record: 1**

- **i. Full name:** Legg Mason Partners Fund Advisor, LLC

- **ii. LEI, if any, or other identifying number:** 549300POFVK5JLWUL193

- **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)?:** 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:** 008-53089

- **c. CRD number:** 000109064

- **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:** ROYCE FUND SERVICES, LLC

- **b. SEC file number:** 008-28663

- **c. CRD number:** 000014470

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

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

- **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:** Clarion Partners Securities, LLC

- **b. SEC file number:** 008-69204

- **c. CRD number:** 000166384

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

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

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

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

**Broker Dealers Record: 4**

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

- **b. SEC file number:** 008-43206

- **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.b - Aggregate value of principal purchase/sale transactions:** $0.00

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

- **Item C.19.a - Fund's monthly average net assets:** $352,641,146.59

- **Item C.19.b - Money market fund's daily average net assets:** $0.00

**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?** $2,675,000,000.00

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

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

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

  - **Line Institutions Record: 3 Name of institution:** THE BANK OF NOVA SCOTIA

  - **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:** CITIBANK, N.A.

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

  - **Line Institutions Record: 9 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

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

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

  - **Line Institutions Record: 12 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 13 Name of institution:** CREDIT SUISSE AG

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

  - **Line Institutions Record: 15 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 16 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

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

  - **Line Institutions Record: 18 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 19 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 20 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   |
|:---|:---|
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Templeton China World Fund                                     | 811-07876         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Templeton Foreign Fund                                         | 811-02781         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Franklin International Equity Fund                             | 811-22338         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| ClearBridge Select Fund                                        | 811-06444         |
| ClearBridge Value Trust                                        | 811-22338         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Western Asset Income Fund                                      | 811-04254         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| BrandywineGLOBAL-Dynamic US Large Cap Value ETF                | 811-23124         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Franklin International Growth Fund                             | 811-10157         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Templeton World Fund                                           | 811-02781         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Templeton International Climate Change Fund                    | 811-02781         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin Income Fund                                           | 811-00537         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Franklin U.S. Small Cap Equity Fund                            | 811-22338         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| International Equity Series                                    | 811-06135         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Franklin Growth Fund                                           | 811-00537         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| Franklin High Income Fund                                      | 811-01608         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Martin Currie Sustainable International Equity ETF             | 811-23124         |
| Franklin Managed Income fund                                   | 811-04986         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Franklin Mutual European Fund                                  | 811-05387         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| ClearBridge International Value Fund                           | 811-06444         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Templeton International Bond Fund                              | 811-04706         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Franklin Mutual Global Discovery 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: 11 - Franklin Multi-Asset Variable Growth

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

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

- **b. Series identification number, if any:** S000017011

- **c. LEI:** 549300IEUXYIJFUCT167

- **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?:** 1

- **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 I                 | C000047268                                | QLMLTX                       |

**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

- [x] 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

- [ ] 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:** —

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

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

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

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

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

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

**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:** Legg Mason Partners Fund Advisor, LLC

- **ii. SEC file number:** 801-66785

- **iii. CRD number:** 000140432

- **iv. LEI, if any:** 549300POFVK5JLWUL193

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

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

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

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

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

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

- **iii. CRD number:** 000104517

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

- **v. Is the sub-adviser an affiliated person?:** Yes

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

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

**Transfer Agents Record: 1**

- **i. Full name:** BNY Mellon Investment Servicing (US) Inc.

- **ii. SEC file number:** 084-01761

- **iii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

- **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?:** No

**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?** Yes

**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:** 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:** Refinitiv US LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 213800HQORQAP68CJJ04

- **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:** IHS MARKIT GROUP HOLDINGS LIMITED

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

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

**Pricing Services Record: 4**

- **i. Full name:** PricingDirect Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **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: 5**

- **i. Full name:** Refinitiv Benchmark Services Limited

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

- **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: 6**

- **i. Full name:** Bank of America Merill Lynch PriceServe

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

- **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: 7**

- **i. Full name:** Virtu Financial, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001OPW2K42CH3884

- **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: 8**

- **i. Full name:** THE CLEARING HOUSE PAYMENTS COMPANY L.L.C.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300KIB86ZLHRUV723

- **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: 9**

- **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:** MA

- **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:** The Bank of New York Mellon

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

- **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:** BNY Mellon Investment Servicing (US) Inc.

- **ii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

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

- **v. Is the shareholder servicing agent an affiliated person?:** No

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

**Shareholder Servicing Agents Record: 2**

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

- **ii. LEI, if any:** 084-01036

- **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?** Yes

**Item C.14. Administrators.**

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

**Administrators Record: 1**

- **i. Full name:** Legg Mason Partners Fund Advisor, LLC

- **ii. LEI, if any, or other identifying number:** 549300POFVK5JLWUL193

- **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)?:** 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:** ROYCE FUND SERVICES, LLC

- **b. SEC file number:** 008-28663

- **c. CRD number:** 000014470

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

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

- **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:** Clarion Partners Securities, LLC

- **b. SEC file number:** 008-69204

- **c. CRD number:** 000166384

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

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

- **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:** 008-53089

- **c. CRD number:** 000109064

- **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: 4**

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

- **b. SEC file number:** 008-43206

- **c. CRD number:** 000027884

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

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

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

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

**Item C.16. Brokers.**

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

**Brokers Record: 1**

- **i. Full name of broker:** JANE STREET CAPITAL, LLC

- **ii. SEC file number:** 008-52275

- **iii. CRD number:** 000103782

- **iv. LEI, if any:** 549300ZM16HMPEPNV857

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $200.16

**Brokers Record: 2**

- **i. Full name of broker:** Merrill Lynch Professional Clearing Corp.

- **ii. SEC file number:** 008-33359

- **iii. CRD number:** 000016139

- **iv. LEI, if any:** 549300PMHS66E71I2D34

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $189.73

**Aggregate Commission:** $389.89

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $0.00

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

- **Item C.19.a - Fund's monthly average net assets:** $77,708,154.06

- **Item C.19.b - Money market fund's daily average net assets:** $0.00

**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?** $2,675,000,000.00

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

  - **Line Institutions Record: 1 Name of institution:** ROYAL BANK OF CANADA

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

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

  - **Line Institutions Record: 4 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

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

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

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

  - **Line Institutions Record: 8 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 9 Name of institution:** THE TORONTO-DOMINION BANK

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

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

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

  - **Line Institutions Record: 13 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 14 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 15 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 16 Name of institution:** CREDIT SUISSE AG

  - **Line Institutions Record: 17 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 18 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 19 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 20 Name of institution:** STATE STREET BANK AND TRUST COMPANY

- **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 Biotechnology Discovery Fund                          | 811-06243         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Templeton Foreign Fund                                         | 811-02781         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| ClearBridge Value Trust                                        | 811-22338         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Templeton China World Fund                                     | 811-07876         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Franklin Managed Income fund                                   | 811-04986         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Templeton International Climate Change Fund                    | 811-02781         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| BrandywineGLOBAL-Dynamic US Large Cap Value ETF                | 811-23124         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Franklin Growth Fund                                           | 811-00537         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Franklin Equity Income Fund                                    | 811-04986         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| ClearBridge International Value Fund                           | 811-06444         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin High Income Fund                                      | 811-01608         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Templeton World Fund                                           | 811-02781         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| International Equity Series                                    | 811-06135         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin U.S. Small Cap Equity Fund                            | 811-22338         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Martin Currie Sustainable International Equity ETF             | 811-23124         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin Mutual European Fund                                  | 811-05387         |
| Western Asset Income Fund                                      | 811-04254         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Franklin Income Fund                                           | 811-00537         |
| Templeton Global Bond Fund                                     | 811-04706         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Templeton International Bond Fund                              | 811-04706         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin Utilities Fund                                        | 811-00537         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| BrandywineGLOBAL - Global High Yield 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: 12 - Franklin Multi-Asset Variable Moderate Growth

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

- **a. Full Name of the Fund:** Franklin Multi-Asset Variable Moderate Growth

- **b. Series identification number, if any:** S000017010

- **c. LEI:** 549300SKDQ1VU3QRUD94

- **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?:** 1

- **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 I                 | C000047267                                | QLMLSX                       |

**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

- [x] 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

- [ ] 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:** —

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

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

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

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

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

**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:** Legg Mason Partners Fund Advisor, LLC

- **ii. SEC file number:** 801-66785

- **iii. CRD number:** 000140432

- **iv. LEI, if any:** 549300POFVK5JLWUL193

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

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

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

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

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

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

- **iii. CRD number:** 000104517

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

- **v. Is the sub-adviser an affiliated person?:** Yes

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

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

**Transfer Agents Record: 1**

- **i. Full name:** BNY Mellon Investment Servicing (US) Inc.

- **ii. SEC file number:** 084-01761

- **iii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

- **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?:** No

**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?** Yes

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

**Pricing Services Record: 1**

- **i. Full name:** Virtu Financial, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001OPW2K42CH3884

- **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:** Bank of America Merill Lynch PriceServe

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

- **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:** Refinitiv US LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 213800HQORQAP68CJJ04

- **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: 4**

- **i. Full name:** Refinitiv Benchmark Services Limited

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

- **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: 5**

- **i. Full name:** PricingDirect Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **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: 6**

- **i. Full name:** IHS MARKIT GROUP HOLDINGS LIMITED

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

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

**Pricing Services Record: 7**

- **i. Full name:** THE CLEARING HOUSE PAYMENTS COMPANY L.L.C.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300KIB86ZLHRUV723

- **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: 8**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **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: 9**

- **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:** MA

- **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:** The Bank of New York Mellon

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

- **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

- **ii. LEI, if any:** 084-01036

- **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

**Shareholder Servicing Agents Record: 2**

- **i. Full name:** BNY Mellon Investment Servicing (US) Inc.

- **ii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

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

- **v. Is the shareholder servicing agent an affiliated person?:** No

- **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?** Yes

**Item C.14. Administrators.**

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

**Administrators Record: 1**

- **i. Full name:** Legg Mason Partners Fund Advisor, LLC

- **ii. LEI, if any, or other identifying number:** 549300POFVK5JLWUL193

- **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)?:** 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:** 008-43206

- **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:** Clarion Partners Securities, LLC

- **b. SEC file number:** 008-69204

- **c. CRD number:** 000166384

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

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

- **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:** 008-53089

- **c. CRD number:** 000109064

- **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: 4**

- **a. Full name:** ROYCE FUND SERVICES, LLC

- **b. SEC file number:** 008-28663

- **c. CRD number:** 000014470

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

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

- **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:** JANE STREET CAPITAL, LLC

- **ii. SEC file number:** 008-52275

- **iii. CRD number:** 000103782

- **iv. LEI, if any:** 549300ZM16HMPEPNV857

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $76.06

**Brokers Record: 2**

- **i. Full name of broker:** Merrill Lynch Professional Clearing Corp.

- **ii. SEC file number:** 008-33359

- **iii. CRD number:** 000016139

- **iv. LEI, if any:** 549300PMHS66E71I2D34

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $66.96

**Aggregate Commission:** $143.02

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $0.00

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

- **Item C.19.a - Fund's monthly average net assets:** $28,799,043.19

- **Item C.19.b - Money market fund's daily average net assets:** $0.00

**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?** $2,675,000,000.00

- **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:** HSBC BANK USA, N.A.

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

  - **Line Institutions Record: 4 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

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

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

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

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

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

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

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

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

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

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

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

  - **Line Institutions Record: 16 Name of institution:** CREDIT SUISSE AG

  - **Line Institutions Record: 17 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 18 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 19 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 20 Name of institution:** PNC 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   |
|:---|:---|
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| ClearBridge Select Fund                                        | 811-06444         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Franklin Managed Income fund                                   | 811-04986         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Franklin Global Equity Fund                                    | 811-06444         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| BrandywineGLOBAL-Dynamic US Large Cap Value ETF                | 811-23124         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin International Equity Fund                             | 811-22338         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Franklin U.S. Small Cap Equity Fund                            | 811-22338         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Templeton Foreign Fund                                         | 811-02781         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Templeton International Bond Fund                              | 811-04706         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Western Asset Income Fund                                      | 811-04254         |
| Templeton International Climate Change Fund                    | 811-02781         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Templeton World Fund                                           | 811-02781         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Franklin High Income Fund                                      | 811-01608         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| ClearBridge Value Trust                                        | 811-22338         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Martin Currie Sustainable International Equity ETF             | 811-23124         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| International Equity Series                                    | 811-06135         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Franklin Utilities Fund                                        | 811-00537         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Templeton China World Fund                                     | 811-07876         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Templeton Developing Markets Trust                             | 811-06378         |
| ClearBridge International Value Fund                           | 811-06444         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Franklin Mutual European Fund                                  | 811-05387         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin International Growth Fund                             | 811-10157         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin Income Fund                                           | 811-00537         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Franklin Growth Fund                                           | 811-00537         |
| Franklin Liberty Senior Loan 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: 13 - ClearBridge Variable Large Cap Value Portfolio

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

- **a. Full Name of the Fund:** ClearBridge Variable Large Cap Value Portfolio

- **b. Series identification number, if any:** S000017019

- **c. LEI:** 5493008ZDUQZ3KK1QC69

- **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?:** 2

- **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 I                 | C000047279                                | QLMVIX                       |

**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:** —

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

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

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

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

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

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

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

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

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

**Investment Advisers Record: 1**

- **i. Full name:** Legg Mason Partners Fund Advisor, LLC

- **ii. SEC file number:** 801-66785

- **iii. CRD number:** 000140432

- **iv. LEI, if any:** 549300POFVK5JLWUL193

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

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

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

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

- **i. Full name:** ClearBridge Investments, LLC

- **ii. SEC file number:** 801-64710

- **iii. CRD number:** 000137028

- **iv. LEI, if any:** 549300L5KZQRDVVXSK45

- **v. Is the sub-adviser an affiliated person?:** Yes

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

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

**Transfer Agents Record: 1**

- **i. Full name:** BNY Mellon Investment Servicing (US) Inc.

- **ii. SEC file number:** 084-01761

- **iii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

- **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?:** No

**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?** Yes

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

**Pricing Services Record: 1**

- **i. Full name:** Refinitiv US LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 213800HQORQAP68CJJ04

- **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:** THE CLEARING HOUSE PAYMENTS COMPANY L.L.C.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300KIB86ZLHRUV723

- **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:** ICE Data Pricing & Reference Data, LLC

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

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

- **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:** Virtu Financial, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001OPW2K42CH3884

- **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: 5**

- **i. Full name:** Bank of America Merill Lynch PriceServe

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

- **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: 6**

- **i. Full name:** IHS MARKIT GROUP HOLDINGS LIMITED

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

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

**Pricing Services Record: 7**

- **i. Full name:** Refinitiv Benchmark Services Limited

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

- **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: 8**

- **i. Full name:** PricingDirect Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **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: 9**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **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:** The Bank of New York Mellon

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

- **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

- **ii. LEI, if any:** 084-01036

- **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

**Shareholder Servicing Agents Record: 2**

- **i. Full name:** BNY Mellon Investment Servicing (US) Inc.

- **ii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

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

- **v. Is the shareholder servicing agent an affiliated person?:** No

- **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?** Yes

**Item C.14. Administrators.**

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

**Administrators Record: 1**

- **i. Full name:** Legg Mason Partners Fund Advisor, LLC

- **ii. LEI, if any, or other identifying number:** 549300POFVK5JLWUL193

- **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)?:** 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:** ROYCE FUND SERVICES, LLC

- **b. SEC file number:** 008-28663

- **c. CRD number:** 000014470

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

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

- **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:** 008-43206

- **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:** Clarion Partners Securities, LLC

- **b. SEC file number:** 008-69204

- **c. CRD number:** 000166384

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

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

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

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

**Broker Dealers Record: 4**

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

- **b. SEC file number:** 008-53089

- **c. CRD number:** 000109064

- **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:** UBS Securities LLC

- **ii. SEC file number:** 008-22651

- **iii. CRD number:** 000007654

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,050.92

**Brokers Record: 2**

- **i. Full name of broker:** Raymond James & Associates, Inc.

- **ii. SEC file number:** 008-10999

- **iii. CRD number:** 000000705

- **iv. LEI, if any:** U4ONQX15J3RO8XCKE979

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $287.00

**Brokers Record: 3**

- **i. Full name of broker:** SANFORD C. BERNSTEIN & CO., LLC

- **ii. SEC file number:** 008-52942

- **iii. CRD number:** 000104474

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,239.50

**Brokers Record: 4**

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

- **ii. SEC file number:** 008-23669

- **iii. CRD number:** 000007897

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,867.75

**Brokers Record: 5**

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

- **ii. SEC file number:** 008-00497

- **iii. CRD number:** 000008158

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $552.60

**Brokers Record: 6**

- **i. Full name of broker:** GOLDMAN SACHS & CO. LLC

- **ii. SEC file number:** 008-00129

- **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:** $426.08

**Brokers Record: 7**

- **i. Full name of broker:** MORGAN STANLEY & CO. LLC

- **ii. SEC file number:** 008-15869

- **iii. CRD number:** 000008209

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $7,045.38

**Brokers Record: 8**

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

- **ii. SEC file number:** 008-35008

- **iii. CRD number:** 000000079

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,372.61

**Brokers Record: 9**

- **i. Full name of broker:** Merrill Lynch Professional Clearing Corp.

- **ii. SEC file number:** 008-33359

- **iii. CRD number:** 000016139

- **iv. LEI, if any:** 549300PMHS66E71I2D34

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $579.66

**Brokers Record: 10**

- **i. Full name of broker:** CAPITAL INSTITUTIONAL SERVICES, INC

- **ii. SEC file number:** 008-22273

- **iii. CRD number:** 000007551

- **iv. LEI, if any:** 54930061X8RDWFDJIS05

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,378.05

**Aggregate Commission:** $17,799.55

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $0.00

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

- **Item C.19.a - Fund's monthly average net assets:** $287,125,285.25

- **Item C.19.b - Money market fund's daily average net assets:** $0.00

**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?** $2,675,000,000.00

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

  - **Line Institutions Record: 1 Name of institution:** THE BANK OF NOVA SCOTIA

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

  - **Line Institutions Record: 3 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 4 Name of institution:** THE BANK OF NEW YORK MELLON

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

  - **Line Institutions Record: 6 Name of institution:** DEUTSCHE BANK AG

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

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

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

  - **Line Institutions Record: 10 Name of institution:** STATE STREET BANK AND TRUST COMPANY

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

  - **Line Institutions Record: 12 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

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

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

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

  - **Line Institutions Record: 16 Name of institution:** CREDIT SUISSE AG

  - **Line Institutions Record: 17 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 18 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 19 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 20 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.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 International Value Fund                           | 811-06444         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Western Asset Income Fund                                      | 811-04254         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Foreign Smaller Companies Series                               | 811-06135         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin Growth Fund                                           | 811-00537         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Templeton China World Fund                                     | 811-07876         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Franklin Managed Income fund                                   | 811-04986         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Franklin Mutual European Fund                                  | 811-05387         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Franklin Income Fund                                           | 811-00537         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| ClearBridge Value Trust                                        | 811-22338         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Franklin U.S. Small Cap Equity Fund                            | 811-22338         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| Franklin Utilities Fund                                        | 811-00537         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| BrandywineGLOBAL-Dynamic US Large Cap Value ETF                | 811-23124         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Templeton World Fund                                           | 811-02781         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| ClearBridge Select Fund                                        | 811-06444         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| International Equity Series                                    | 811-06135         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Templeton Foreign Fund                                         | 811-02781         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Templeton International Climate Change Fund                    | 811-02781         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Martin Currie Sustainable International Equity ETF             | 811-23124         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Templeton International Bond Fund                              | 811-04706         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin High Income Fund                                      | 811-01608         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |

- **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 Templeton Aggressive Model Portfolio

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

- **a. Full Name of the Fund:** Franklin Templeton Aggressive Model Portfolio

- **b. Series identification number, if any:** S000068271

- **c. LEI:** 549300NFCDRZGQZD3341

- **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?:** 2

- **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 II                | C000218574                                | QLMABX                       |
|                           2 | Class I                 | C000218575                                | QLMAAX                       |

**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

- [x] 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

- [ ] 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:** —

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

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

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

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

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

- 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?** 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:** Legg Mason Partners Fund Advisor, LLC

- **ii. SEC file number:** 801-66785

- **iii. CRD number:** 000140432

- **iv. LEI, if any:** 549300POFVK5JLWUL193

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

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

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

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

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

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

- **iii. CRD number:** 000104517

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

- **v. Is the sub-adviser an affiliated person?:** Yes

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

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

**Transfer Agents Record: 1**

- **i. Full name:** BNY Mellon Investment Servicing (US) Inc.

- **ii. SEC file number:** 084-01761

- **iii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

- **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?:** No

**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?** Yes

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

**Pricing Services Record: 1**

- **i. Full name:** Refinitiv US LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 213800HQORQAP68CJJ04

- **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:** 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:** Bank of America Merill Lynch PriceServe

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

- **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: 4**

- **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:** MA

- **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: 5**

- **i. Full name:** IHS MARKIT GROUP HOLDINGS LIMITED

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

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

**Pricing Services Record: 6**

- **i. Full name:** Refinitiv Benchmark Services Limited

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

- **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: 7**

- **i. Full name:** THE CLEARING HOUSE PAYMENTS COMPANY L.L.C.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300KIB86ZLHRUV723

- **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: 8**

- **i. Full name:** PricingDirect Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **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: 9**

- **i. Full name:** Virtu Financial, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001OPW2K42CH3884

- **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:** The Bank of New York Mellon

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

- **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:** BNY Mellon Investment Servicing (US) Inc.

- **ii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

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

- **v. Is the shareholder servicing agent an affiliated person?:** No

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

**Shareholder Servicing Agents Record: 2**

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

- **ii. LEI, if any:** 084-01036

- **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?** Yes

**Item C.14. Administrators.**

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

**Administrators Record: 1**

- **i. Full name:** Legg Mason Partners Fund Advisor, LLC

- **ii. LEI, if any, or other identifying number:** 549300POFVK5JLWUL193

- **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)?:** 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:** 008-53089

- **c. CRD number:** 000109064

- **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:** ROYCE FUND SERVICES, LLC

- **b. SEC file number:** 008-28663

- **c. CRD number:** 000014470

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

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

- **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:** 008-43206

- **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: 4**

- **a. Full name:** Clarion Partners Securities, LLC

- **b. SEC file number:** 008-69204

- **c. CRD number:** 000166384

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

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

- **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.b - Aggregate value of principal purchase/sale transactions:** $0.00

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** No

- **Item C.19.a - Fund's monthly average net assets:** $313,006,463.13

- **Item C.19.b - Money market fund's daily average net assets:** $0.00

**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?** $2,675,000,000.00

- **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:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 3 Name of institution:** CREDIT SUISSE AG

  - **Line Institutions Record: 4 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 5 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 6 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 7 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 8 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 9 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 10 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 11 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 12 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **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:** BARCLAYS BANK PLC

  - **Line Institutions Record: 17 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 18 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 19 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  - **Line Institutions Record: 20 Name of institution:** THE TORONTO-DOMINION 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   |
|:---|:---|
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Templeton Foreign Fund                                         | 811-02781         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| ClearBridge Value Trust                                        | 811-22338         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin Utilities Fund                                        | 811-00537         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Franklin International Growth Fund                             | 811-10157         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Templeton International Climate Change Fund                    | 811-02781         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Franklin Managed Income fund                                   | 811-04986         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Templeton Global Total Return Fund                             | 811-04706         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Martin Currie Sustainable International Equity ETF             | 811-23124         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin Income Fund                                           | 811-00537         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Templeton World Fund                                           | 811-02781         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Franklin International Small Cap Fund                          | 811-10157         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| ClearBridge Select Fund                                        | 811-06444         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| BrandywineGLOBAL-Dynamic US Large Cap Value ETF                | 811-23124         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| ClearBridge International Value Fund                           | 811-06444         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Franklin Growth Fund                                           | 811-00537         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Franklin High Income Fund                                      | 811-01608         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| International Equity Series                                    | 811-06135         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Western Asset Income Fund                                      | 811-04254         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Foreign Smaller Companies Series                               | 811-06135         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin Mutual European Fund                                  | 811-05387         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin International Equity Fund                             | 811-22338         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Western Asset California Municipals Fund                       | 811-04254         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Franklin U.S. Small Cap Equity Fund                            | 811-22338         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Templeton International Bond Fund                              | 811-04706         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| Templeton China World Fund                                     | 811-07876         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin Strategic Income 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: 15 - Franklin Templeton Moderate Model Portfolio

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Franklin Templeton Moderate Model Portfolio

- **b. Series identification number, if any:** S000068273

- **c. LEI:** 54930032BXZRBBQFVG10

- **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?:** 2

- **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 I                 | C000218579                                | QLMAEX                       |
|                           2 | Class II                | C000218578                                | QLMAFX                       |

**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

- [x] 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

- [ ] 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:** —

- **g. Provide the net income from securities lending activities:** —

**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 (17 CFR 270.18f-4)

- Rule 32a-4 (17 CFR 270.32a-4)

- Rule 12d1-1 (17 CFR 270.12d1-1)

- Rule 22d-1 (17 CFR 270.22d-1)

- Rule 12d1-4 (17 CFR 270.12d1-4)

**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:** Legg Mason Partners Fund Advisor, LLC

- **ii. SEC file number:** 801-66785

- **iii. CRD number:** 000140432

- **iv. LEI, if any:** 549300POFVK5JLWUL193

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

- **i. Full name:** Franklin Advisers, Inc.

- **ii. SEC file number:** 801-26292

- **iii. CRD number:** 000104517

- **iv. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vii. Was the sub-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:** BNY Mellon Investment Servicing (US) Inc.

- **ii. SEC file number:** 084-01761

- **iii. LEI, if any:** 549300CFZQLI9QMJ1Z03

- **iv. State, if applicable:** MA

- **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?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** Refinitiv US LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 213800HQORQAP68CJJ04

- **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:** IHS MARKIT GROUP HOLDINGS LIMITED

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 3**

- **i. Full name:** PricingDirect Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **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: 4**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **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: 5**

- **i. Full name:** Virtu Financial, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001OPW2K42CH3884

- **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: 6**

- **i. Full name:** Refinitiv Benchmark Services Limited

- **ii. LEI, if any, or provide and describe other identifying number:** N/A

- **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: 7**

- **i. Full name:** Bank of America Merill Lynch PriceServe

- **ii. LEI, if any, or provide and describe other identifying number:** N/A

- **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: 8**

- **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:** MA

- **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: 9**

- **i. Full name:** THE CLEARING HOUSE PAYMENTS COMPANY L.L.C.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300KIB86ZLHRUV723

- **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:** The Bank of New York Mellon

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **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:** BNY Mellon Investment Servicing (US) Inc.

- **ii. LEI, if any:** 549300CFZQLI9QMJ1Z03

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** No

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

**Shareholder Servicing Agents Record: 2**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. LEI, if any:** 084-01036

- **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?** Yes

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** Legg Mason Partners Fund Advisor, LLC

- **ii. LEI, if any, or other identifying number:** 549300POFVK5JLWUL193

- **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)?:** 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:** 008-43206

- **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:** ROYCE FUND SERVICES, LLC

- **b. SEC file number:** 008-28663

- **c. CRD number:** 000014470

- **d. LEI, if any:** N/A

- **e. State, if applicable:** NY

- **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:** Clarion Partners Securities, LLC

- **b. SEC file number:** 008-69204

- **c. CRD number:** 000166384

- **d. LEI, if any:** N/A

- **e. State, if applicable:** NY

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 4**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 008-53089

- **c. CRD number:** 000109064

- **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.b - Aggregate value of principal purchase/sale transactions:** $0.00

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** No

- **Item C.19.a - Fund's monthly average net assets:** $928,538,372.38

- **Item C.19.b - Money market fund's daily average net assets:** $0.00

**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?** $2,675,000,000.00

- **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:** PNC BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 3 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  - **Line Institutions Record: 4 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 5 Name of institution:** JPMORGAN CHASE BANK, 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:** CREDIT SUISSE AG

  - **Line Institutions Record: 9 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 10 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 11 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 12 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 13 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 14 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 15 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 16 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 17 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 18 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 19 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 20 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

- **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 Mutual Shares Fund                                    | 811-05387         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| International Equity Series                                    | 811-06135         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| Franklin Managed Income fund                                   | 811-04986         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| ClearBridge International Value Fund                           | 811-06444         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Templeton International Bond Fund                              | 811-04706         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Franklin Total Return Fund                                     | 811-04986         |
| ClearBridge Select Fund                                        | 811-06444         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin International Growth Fund                             | 811-10157         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Western Asset Income Fund                                      | 811-04254         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Franklin U.S. Small Cap Equity Fund                            | 811-22338         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Western Asset Total Return ETF                                 | 811-23096         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Franklin Dynatech Fund                                         | 811-00537         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Western Asset High Yield Fund                                  | 811-06110         |
| BrandywineGLOBAL-Dynamic US Large Cap Value ETF                | 811-23124         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Franklin Growth Fund                                           | 811-00537         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Templeton Foreign Fund                                         | 811-02781         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Foreign Smaller Companies Series                               | 811-06135         |
| ClearBridge Value Trust                                        | 811-22338         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Franklin Income Fund                                           | 811-00537         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Templeton International Climate Change Fund                    | 811-02781         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin Income VIP Fund                                       | 811-05583         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin Mutual European Fund                                  | 811-05387         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Templeton World Fund                                           | 811-02781         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Templeton Developing Markets Trust                             | 811-06378         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Martin Currie Sustainable International Equity ETF             | 811-23124         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Franklin High Income Fund                                      | 811-01608         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Templeton China World Fund                                     | 811-07876         |

- **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:** Legg Mason Partners Variable Equity Trust

**Date:** 2023-03-10

**Signature:** Christopher Berarducci

**Title:** Principal Financial Officer and Treasurer