# EDGAR Filing Document

**Accession Number:** 0000856119
**File Stem:** 0002071691-25-009321
**Filing Date:** 2025-12
**Character Count:** 37217
**Document Hash:** 41335ab455944740b605960a0a6135ae
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-009321.hdr.sgml**: 20251223

**ACCESSION NUMBER**: 0002071691-25-009321

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251223

**DATE AS OF CHANGE**: 20251223

**PERIOD START**: 20251031

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05878
- **FILM NUMBER:** 251595219

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

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

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

## Series and Classes Contracts Data

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

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

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** San Mateo

  - **State:** CA

  - **Foreign country:** US

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

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

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

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

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

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

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $3774653935.27

**Total Liabilities:** $3968387.54

**Net Assets:** $3770685547.73

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000020207 | 5.49%                | -1.02%               | -1.34%               |
| Class ID C000020203 | 5.45%                | -1.03%               | -1.35%               |
| Class ID C000020205 | 5.39%                | -1.10%               | -1.41%               |
| Class ID C000020206 | 5.43%                | -1.05%               | -1.37%               |
| Class ID C000128827 | 5.49%                | -1.00%               | -1.33%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $42947996.45             | $155595005.52                              |
| Month 2  | $33200869.18             | $-77006217.09                              |
| Month 3  | $43753306.88             | $-96458048.96                              |

### Schedule of Portfolio Investments

| Name                                                     | Title                                                    | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Group 1 Automotive, Inc.                                 | Group 1 Automotive, Inc.                                 | CUSIP: 398905109<br>LEI: 549300US8QAZJLWYAF63 | Long             | EC               | CORP              | US        |     44694 | NS      | $17767652.76  | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Crocs, Inc.                                              | Crocs, Inc.                                              | CUSIP: 227046109<br>LEI: 549300B0J6YCXD63OG72 | Long             | EC               | CORP              | US        |    252009 | NS      | $20586615.21  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Louisiana-Pacific Corp.                                  | Louisiana-Pacific Corp.                                  | CUSIP: 546347105<br>LEI: 549300C7E2UAO5BVRR75 | Long             | EC               | CORP              | US        |    298581 | NS      | $26009390.91  | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Resideo Technologies, Inc.                               | Resideo Technologies, Inc.                               | CUSIP: 76118Y104<br>LEI: 5493006TKFPYISY2DS54 | Long             | EC               | CORP              | US        |    957428 | NS      | $40977918.40  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| TriCo Bancshares                                         | TriCo Bancshares                                         | CUSIP: 896095106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1067509 | NS      | $47215923.07  | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Meritage Homes Corp.                                     | Meritage Homes Corp.                                     | CUSIP: 59001A102<br>LEI: 52990044W9UMFJO2FB97 | Long             | EC               | CORP              | US        |     81495 | NS      | $5505802.20   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Rosebank Industries plc                                  | Rosebank Industries plc                                  | CUSIP: N/A<br>LEI: 2138005KFPHBAEW69F51       | Long             | EC               | CORP              | JE        |   7285678 | NS      | $33158969.26  | 0.88%             |  |  |  | No            |                  2 | On Loan: No      |
| Camden National Corp.                                    | Camden National Corp.                                    | CUSIP: 133034108<br>LEI: 549300ZVEDL2L8UW4F28 | Long             | EC               | CORP              | US        |    978520 | NS      | $37330538.00  | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC plc                                           | TechnipFMC plc                                           | CUSIP: N/A<br>LEI: 549300D5I93QWCJTCK36       | Long             | EC               | CORP              | GB        |     83768 | NS      | $3463806.80   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Cracker Barrel Old Country Store, Inc.                   | Cracker Barrel Old Country Store, Inc.                   | CUSIP: 22410J106<br>LEI: 8P4PHQIUWPIECBFBW745 | Long             | EC               | CORP              | US        |    286455 | NS      | $9653533.50   | 0.26%             |  |  |  | No            |                  1 | On Loan: —       |
| Oxford Instruments plc                                   | Oxford Instruments plc                                   | CUSIP: N/A<br>LEI: 213800J364EZD6UCE231       | Long             | EC               | CORP              | GB        |    315583 | NS      | $7829828.31   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Hunting plc                                              | Hunting plc                                              | CUSIP: N/A<br>LEI: 2138008S5FL78ITZRN66       | Long             | EC               | CORP              | GB        |   6093536 | NS      | $27337342.19  | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Babcock International Group plc                          | Babcock International Group plc                          | CUSIP: N/A<br>LEI: 213800TSKOLX4EU6L377       | Long             | EC               | CORP              | GB        |   2591564 | NS      | $41384785.21  | 1.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Mueller Water Products, Inc.                             | Mueller Water Products, Inc., Class A                    | CUSIP: 624758108<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | EC               | CORP              | US        |   1812909 | NS      | $46519244.94  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| McGrath RentCorp                                         | McGrath RentCorp                                         | CUSIP: 580589109<br>LEI: 254900EUH6IPWFQ83445 | Long             | EC               | CORP              | US        |    254252 | NS      | $27316834.88  | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Middleby Corp. (The)                                     | Middleby Corp. (The)                                     | CUSIP: 596278101<br>LEI: JDFO86U9VQRBKW5KYA35 | Long             | EC               | CORP              | US        |    356745 | NS      | $44318431.35  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Taylor Morrison Home Corp.                               | Taylor Morrison Home Corp., Class A                      | CUSIP: 87724P106<br>LEI: 5299009UDLLGLKOOJE30 | Long             | EC               | CORP              | US        |     60803 | NS      | $3603793.81   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| RXO, Inc.                                                | RXO, Inc.                                                | CUSIP: 74982T103<br>LEI: 549300KL8CA6GP8XPM30 | Long             | EC               | CORP              | US        |   1694346 | NS      | $30040754.58  | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Knight-Swift Transportation Holdings, Inc.               | Knight-Swift Transportation Holdings, Inc., Class A      | CUSIP: 499049104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     95905 | NS      | $4327233.60   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Bruker Corp.                                             | Bruker Corp.                                             | CUSIP: 116794108<br>LEI: LEBZ6VLQ6I8XB1NHVY15 | Long             | EC               | CORP              | US        |    785931 | NS      | $30604153.14  | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Brady Corp.                                              | Brady Corp., Class A                                     | CUSIP: 104674106<br>LEI: 549300G2LEQOFQC8GY34 | Long             | EC               | CORP              | US        |    419873 | NS      | $31872559.43  | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| La-Z-Boy, Inc.                                           | La-Z-Boy, Inc.                                           | CUSIP: 505336107<br>LEI: 549300WNO1WMN9ZG2519 | Long             | EC               | CORP              | US        |   1011616 | NS      | $32068227.20  | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Victory Capital Holdings, Inc.                           | Victory Capital Holdings, Inc., Class A                  | CUSIP: 92645B103<br>LEI: 549300BN5LH2CIPPHS71 | Long             | EC               | CORP              | US        |    946477 | NS      | $58937122.79  | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Regal Rexnord Corp.                                      | Regal Rexnord Corp.                                      | CUSIP: 758750103<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | EC               | CORP              | US        |    487656 | NS      | $68705853.84  | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Dollar                                          | Canadian Dollar                                          | CUSIP: N/A<br>LEI: N/A                        | Short            | STIV             |  | CA        |        -0 | OU      | $-0.02        | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| HNI Corp.                                                | HNI Corp.                                                | CUSIP: 404251100<br>LEI: 549300SKRADLC4O5HV93 | Long             | EC               | CORP              | US        |    429899 | NS      | $17591467.08  | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Ashland, Inc.                                            | Ashland, Inc.                                            | CUSIP: 044186104<br>LEI: 529900E4L9R04SB8HB11 | Long             | EC               | CORP              | US        |    123089 | NS      | $6019052.10   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Horace Mann Educators Corp.                              | Horace Mann Educators Corp.                              | CUSIP: 440327104<br>LEI: 254900G5YAV3A2YK8T32 | Long             | EC               | CORP              | US        |   2192713 | NS      | $98036198.23  | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Mattel, Inc.                                             | Mattel, Inc.                                             | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Long             | EC               | CORP              | US        |   4360833 | NS      | $80152110.54  | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Brunswick Corp.                                          | Brunswick Corp.                                          | CUSIP: 117043109<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | EC               | CORP              | US        |    553107 | NS      | $36565903.77  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| UFP Industries, Inc.                                     | UFP Industries, Inc.                                     | CUSIP: 90278Q108<br>LEI: 5493007KB485C9OV5572 | Long             | EC               | CORP              | US        |    104626 | NS      | $9639193.38   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| First Commonwealth Financial Corp.                       | First Commonwealth Financial Corp.                       | CUSIP: 319829107<br>LEI: 549300ZHLQ42NXDETL24 | Long             | EC               | CORP              | US        |   2414952 | NS      | $36924616.08  | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryerson Holding Corp.                                    | Ryerson Holding Corp.                                    | CUSIP: 783754104<br>LEI: 549300JMA41B3ZHOVE45 | Long             | EC               | CORP              | US        |   1777173 | NS      | $39204436.38  | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Seacoast Banking Corp. of Florida                        | Seacoast Banking Corp. of Florida                        | CUSIP: 811707801<br>LEI: 549300V6IC06XYQYPG88 | Long             | EC               | CORP              | US        |   1397005 | NS      | $42329251.50  | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Gap, Inc. (The)                                          | Gap, Inc. (The)                                          | CUSIP: 364760108<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | EC               | CORP              | US        |   4173856 | NS      | $95372609.60  | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| CNO Financial Group, Inc.                                | CNO Financial Group, Inc.                                | CUSIP: 12621E103<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | EC               | CORP              | US        |   2563667 | NS      | $102597953.34 | 2.72%             |  |  |  | No            |                  1 | On Loan: No      |
| American Woodmark Corp.                                  | American Woodmark Corp.                                  | CUSIP: 030506109<br>LEI: 5299007PFSDWMA74RB56 | Long             | EC               | CORP              | US        |    247036 | NS      | $15743604.28  | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| First Bancorp                                            | First Bancorp                                            | CUSIP: 318910106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1233754 | NS      | $59886419.16  | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Whitecap Resources, Inc.                                 | Whitecap Resources, Inc.                                 | CUSIP: 96467A200<br>LEI: 894500UA4G4BTB67II45 | Long             | EC               | CORP              | CA        |   3793954 | NS      | $28240618.70  | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Hills Corp.                                        | Black Hills Corp.                                        | CUSIP: 092113109<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | EC               | CORP              | US        |    307893 | NS      | $19529652.99  | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexander & Baldwin, Inc.                                | Alexander & Baldwin, Inc.                                | CUSIP: 014491104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1424555 | NS      | $22750143.35  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Century Communities, Inc.                                | Century Communities, Inc.                                | CUSIP: 156504300<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | EC               | CORP              | US        |     63403 | NS      | $3766138.20   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanover Insurance Group, Inc. (The)                      | Hanover Insurance Group, Inc. (The)                      | CUSIP: 410867105<br>LEI: JJYR6MFKFF6CF8DBZ078 | Long             | EC               | CORP              | US        |    161484 | NS      | $27594385.92  | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| MSA Safety, Inc.                                         | MSA Safety, Inc.                                         | CUSIP: 553498106<br>LEI: 529900DVA3258XK11O39 | Long             | EC               | CORP              | US        |    162726 | NS      | $25552863.78  | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Senior plc                                               | Senior plc                                               | CUSIP: N/A<br>LEI: 5493002HQHWN5JQHKQ51       | Long             | EC               | CORP              | GB        |  28282051 | NS      | $70815772.51  | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| WSFS Financial Corp.                                     | WSFS Financial Corp.                                     | CUSIP: 929328102<br>LEI: 549300SU7VQHD6QRG886 | Long             | EC               | CORP              | US        |   1511067 | NS      | $78711480.03  | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Elementis plc                                            | Elementis plc                                            | CUSIP: N/A<br>LEI: 549300LQIH685LI2ML36       | Long             | EC               | CORP              | GB        |  39868704 | NS      | $86179132.47  | 2.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Independence Realty Trust, Inc.                          | Independence Realty Trust, Inc.                          | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               | CORP              | US        |   2177779 | NS      | $34692019.47  | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS, Inc.                                                | MKS, Inc.                                                | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |    813291 | NS      | $116878049.61 | 3.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Vontier Corp.                                            | Vontier Corp.                                            | CUSIP: 928881101<br>LEI: 549300VVSQLG4P5K4639 | Long             | EC               | CORP              | US        |   2444406 | NS      | $94109631.00  | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Commercial Metals Co.                                    | Commercial Metals Co.                                    | CUSIP: 201723103<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | EC               | CORP              | US        |   1483445 | NS      | $88057295.20  | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| M/I Homes, Inc.                                          | M/I Homes, Inc.                                          | CUSIP: 55305B101<br>LEI: 5299005M71FH9CCSFB69 | Long             | EC               | CORP              | US        |     28247 | NS      | $3536241.93   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Wyndham Hotels & Resorts, Inc.                           | Wyndham Hotels & Resorts, Inc.                           | CUSIP: 98311A105<br>LEI: 549300FE3MQ4RVXXC673 | Long             | EC               | CORP              | US        |    221381 | NS      | $16256006.83  | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| German American Bancorp, Inc.                            | German American Bancorp, Inc.                            | CUSIP: 373865104<br>LEI: 5493002JDOI3GTNVUD76 | Long             | EC               | CORP              | US        |   1151789 | NS      | $44389948.06  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Dr. Martens plc                                          | Dr. Martens plc                                          | CUSIP: N/A<br>LEI: 213800QPT8YM6NQZPH28       | Long             | EC               | CORP              | GB        |  28142109 | NS      | $33605992.31  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| WillScot Holdings Corp.                                  | WillScot Holdings Corp.                                  | CUSIP: 971378104<br>LEI: 549300HJ4VIXF476Q166 | Long             | EC               | CORP              | US        |    397527 | NS      | $8646212.25   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| ACI Worldwide, Inc.                                      | ACI Worldwide, Inc.                                      | CUSIP: 004498101<br>LEI: 5493003BPVMZUJ6F5C02 | Long             | EC               | CORP              | US        |   2347523 | NS      | $111812520.49 | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Onto Innovation, Inc.                                    | Onto Innovation, Inc.                                    | CUSIP: 683344105<br>LEI: 254900RXZVN73CHOO062 | Long             | EC               | CORP              | US        |    375791 | NS      | $50716753.36  | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Washington Trust Bancorp, Inc.                           | Washington Trust Bancorp, Inc.                           | CUSIP: 940610108<br>LEI: J66MZFCNJPP3PERHZW54 | Long             | EC               | CORP              | US        |    402827 | NS      | $10973007.48  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Kite Realty Group Trust                                  | Kite Realty Group Trust                                  | CUSIP: 49803T300<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1197135 | NS      | $26504568.90  | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Gates Industrial Corp. plc                               | Gates Industrial Corp. plc                               | CUSIP: N/A<br>LEI: 549300S6K4FWUSB9KM27       | Long             | EC               | CORP              | GB        |   3860739 | NS      | $85245117.12  | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Banking System, Inc.                            | Columbia Banking System, Inc.                            | CUSIP: 197236102<br>LEI: 254900CTRJTQZ3BJ2V17 | Long             | EC               | CORP              | US        |   3604137 | NS      | $96590871.60  | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Benchmark Electronics, Inc.                              | Benchmark Electronics, Inc.                              | CUSIP: 08160H101<br>LEI: 549300W18RHYZOZKOP53 | Long             | EC               | CORP              | US        |   1728883 | NS      | $75759653.06  | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Selective Insurance Group, Inc.                          | Selective Insurance Group, Inc.                          | CUSIP: 816300107<br>LEI: 549300R3WGJWLE40R258 | Long             | EC               | CORP              | US        |    327226 | NS      | $24653206.84  | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Grand Vacations, Inc.                             | Hilton Grand Vacations, Inc.                             | CUSIP: 43283X105<br>LEI: 549300O9K6MFD8D07574 | Long             | EC               | CORP              | US        |    814325 | NS      | $33753771.25  | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Knowles Corp.                                            | Knowles Corp.                                            | CUSIP: 49926D109<br>LEI: 5493003EO323TDZQU148 | Long             | EC               | CORP              | US        |   2419027 | NS      | $57113227.47  | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Boyd Gaming Corp.                                        | Boyd Gaming Corp.                                        | CUSIP: 103304101<br>LEI: 254900787YGRYS2A1Z35 | Long             | EC               | CORP              | US        |    674607 | NS      | $52531647.09  | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| SouthState Bank Corp.                                    | SouthState Bank Corp.                                    | CUSIP: 84472E102<br>LEI: 549300JZUANXM0YQ4W53 | Long             | EC               | CORP              | US        |    952992 | NS      | $84482740.80  | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Peoples Bancorp, Inc.                                    | Peoples Bancorp, Inc.                                    | CUSIP: 709789101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    513372 | NS      | $14682439.20  | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| IDACORP, Inc.                                            | IDACORP, Inc.                                            | CUSIP: 451107106<br>LEI: N134NUJDWN8UEFA8B673 | Long             | EC               | CORP              | US        |    164266 | NS      | $21193599.32  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| EnerSys                                                  | EnerSys                                                  | CUSIP: 29275Y102<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | EC               | CORP              | US        |     97739 | NS      | $12330752.24  | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| First Interstate BancSystem, Inc.                        | First Interstate BancSystem, Inc., Class A               | CUSIP: 32055Y201<br>LEI: 549300WRWYTYX0RCNJ43 | Long             | EC               | CORP              | US        |   2331131 | NS      | $72847843.75  | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Bread Financial Holdings, Inc.                           | Bread Financial Holdings, Inc.                           | CUSIP: 018581108<br>LEI: 549300G8S4PO686J7H97 | Long             | EC               | CORP              | US        |   1065916 | NS      | $66779637.40  | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| STAG Industrial, Inc.                                    | STAG Industrial, Inc.                                    | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               | CORP              | US        |    399200 | NS      | $15277384.00  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Institutional U.S. Government Money Market Fund | Franklin Institutional U.S. Government Money Market Fund | CUSIP: 457756500<br>LEI: 549300M4TP89K77LG374 | Long             | STIV             | RF                | US        |  44534264 | NS      | $44534264.25  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| TTM Technologies, Inc.                                   | TTM Technologies, Inc.                                   | CUSIP: 87305R109<br>LEI: 549300SC4BDOIS008048 | Long             | EC               | CORP              | US        |     82413 | NS      | $5538153.60   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Bath & Body Works, Inc.                                  | Bath & Body Works, Inc.                                  | CUSIP: 070830104<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | EC               | CORP              | US        |    429835 | NS      | $10522360.80  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlantic Union Bankshares Corp.                          | Atlantic Union Bankshares Corp.                          | CUSIP: 04911A107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1962377 | NS      | $63816500.04  | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Energy, Inc.                                     | Liberty Energy, Inc., Class A                            | CUSIP: 53115L104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   3569507 | NS      | $64643771.77  | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Water Solutions, Inc.                             | Select Water Solutions, Inc., Class A                    | CUSIP: 81617J301<br>LEI: 54930094OK8LA3QDW486 | Long             | EC               | CORP              | US        |   4641526 | NS      | $53656040.56  | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| BRP, Inc.                                                | BRP, Inc.                                                | CUSIP: 05577W200<br>LEI: 529900EPQGESIRCPY551 | Long             | EC               | CORP              | CA        |    255046 | NS      | $15998678.89  | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| EURO                                                     | EURO                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | XX        |       367 | OU      | $423.17       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Pound Sterling                                           | Pound Sterling                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | GB        |    282892 | OU      | $371635.76    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Avient Corp.                                             | Avient Corp.                                             | CUSIP: 05368V106<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | EC               | CORP              | US        |   2115482 | NS      | $67843507.74  | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| TWFG, Inc.                                               | TWFG, Inc., Class A                                      | CUSIP: 87318A101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6521 | NS      | $158851.56    | 0.00%             |  |  |  | No            |                  1 | On Loan: —       |
| Franklin Institutional U.S. Government Money Market Fund | Franklin Institutional U.S. Government Money Market Fund | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |    609000 | NS      | $609000.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Piper Sandler Cos.                                       | Piper Sandler Cos.                                       | CUSIP: 724078100<br>LEI: QUQDBTUSOAKFEVMRMF78 | Long             | EC               | CORP              | US        |     55940 | NS      | $17859404.40  | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Envista Holdings Corp.                                   | Envista Holdings Corp.                                   | CUSIP: 29415F104<br>LEI: 549300BX623VURJZ5269 | Long             | EC               | CORP              | US        |   4191924 | NS      | $85305653.40  | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Valmont Industries, Inc.                                 | Valmont Industries, Inc.                                 | CUSIP: 920253101<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | EC               | CORP              | US        |    278365 | NS      | $115084441.95 | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| QinetiQ Group plc                                        | QinetiQ Group plc                                        | CUSIP: N/A<br>LEI: 213800S8OBDOZMCMUW34       | Long             | EC               | CORP              | GB        |  14512737 | NS      | $91643334.21  | 2.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Melrose Industries plc                                   | Melrose Industries plc                                   | CUSIP: N/A<br>LEI: 213800RGNXXZY2M7TR85       | Long             | EC               | CORP              | GB        |   9956072 | NS      | $82018659.69  | 2.18%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

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

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

**Signature:** Monica Krogh

**Name of Signer:** Monica Krogh

**Title:** Assistant Treasurer