# EDGAR Filing Document

**Accession Number:** 0000825063
**File Stem:** 0002071691-25-006461
**Filing Date:** 2025-11
**Character Count:** 25724
**Document Hash:** a0892b33c888f2fc0ac0f5bad3096274
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-006461.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0002071691-25-006461

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251124

**DATE AS OF CHANGE**: 20251124

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FRANKLIN MUTUAL SERIES FUNDS
- **CENTRAL INDEX KEY:** 0000825063

**ORGANIZATION NAME:**
- **EIN:** 222894171
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05387
- **FILM NUMBER:** 251511831

**BUSINESS ADDRESS:**
- **STREET 1:** 101 JOHN F KENNEDY PARKWAY
- **CITY:** SHORT HILLS
- **STATE:** NJ
- **ZIP:** 07078
- **BUSINESS PHONE:** 973-912-2000

**MAIL ADDRESS:**
- **STREET 1:** 101 JOHN F KENNEDY PARKWAY
- **CITY:** SHORT HILLS
- **STATE:** NJ
- **ZIP:** 07078

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRANKLIN MUTUAL SERIES FUND INC
- **DATE OF NAME CHANGE:** 19970227

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MUTUAL SERIES FUND INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### FRANKLIN MUTUAL INTERNATIONAL VALUE FUND (Series ID: S000007862)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000021382 | CLASS A      | TEMIX           |
| C000021384 | CLASS C      | TEURX           |
| C000021385 | CLASS Z      | MEURX           |
| C000082422 | CLASS R      | FMURX           |
| C000128729 | Class R6     | FMEUX           |

## 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 Mutual Series Funds

- **b. Investment Company Act file number:** 811-05387

- **c. CIK number of Registrant:** 0000825063

- **d. LEI of Registrant:** 549300DW3N5FG4OTT022

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

  - **Street Address 1:** 101 John F. Kennedy Parkway

  - **City:** Short Hills

  - **State:** NJ

  - **Foreign country:** US

  - **Zip / Postal Code:** 07078-2791

  - **Telephone number:** 973-912-2000

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

- **a. Name of Series:** Franklin Mutual International Value Fund

- **b. EDGAR series identifier (if any):** S000007862

- **c. LEI of Series:** RLTH36HD42VD8KSXLM66

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1203201297.46

**Total Liabilities:** $1498738.54

**Net Assets:** $1201702558.92

**Cash Not Reported:** $2559753.31

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000021385 | -0.83%               | 5.17%                | 2.33%                |
| Class ID C000128729 | -0.83%               | 5.20%                | 2.30%                |
| Class ID C000021382 | -0.86%               | 5.18%                | 2.28%                |
| Class ID C000082422 | -0.89%               | 5.15%                | 2.28%                |
| Class ID C000021384 | -0.91%               | 5.11%                | 2.24%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $14726174.07             | $-24232868.67                              |
| Month 2  | $2817177.49              | $51169938.35                               |
| Month 3  | $541298.82               | $22812221.12                               |

**Designated Index Information**

- **Index Name:** MSCI EAFE Value Index

- **Index Identifier:** BM0767

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Mizuho Financial Group, Inc.                             | Mizuho Financial Group, Inc.                             | CUSIP: N/A<br>LEI: 353800CI5L6DDAN5XZ33       | Long             | EC               | CORP              | JP        |    504984 | NS      | $16975479.16  | 1.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Sony Group Corp.                                         | Sony Group Corp.                                         | CUSIP: N/A<br>LEI: 529900R5WX9N2OI2N910       | Long             | EC               | CORP              | JP        |    479438 | NS      | $13782261.33  | 1.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Mondi plc                                                | Mondi plc                                                | CUSIP: N/A<br>LEI: 213800LOZA69QFDC9N34       | Long             | EC               | CORP              | GB        |   1496194 | NS      | $20695491.37  | 1.72%             |  |  |  | No            |                  2 | On Loan: No      |
| SBI Holdings, Inc.                                       | SBI Holdings, Inc.                                       | CUSIP: N/A<br>LEI: 353800L6LMHYIPSMRQ17       | Long             | EC               | CORP              | JP        |    723276 | NS      | $31489611.53  | 2.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Metso OYJ                                                | Metso OYJ                                                | CUSIP: N/A<br>LEI: 549300R0VN9C371W0E07       | Long             | EC               | CORP              | FI        |   1056873 | NS      | $14568246.43  | 1.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Babcock International Group plc                          | Babcock International Group plc                          | CUSIP: N/A<br>LEI: 213800TSKOLX4EU6L377       | Long             | EC               | CORP              | GB        |    978518 | NS      | $17604023.42  | 1.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Coca-Cola Bottlers Japan Holdings, Inc.                  | Coca-Cola Bottlers Japan Holdings, Inc.                  | CUSIP: N/A<br>LEI: 353800XN1G90665VTQ16       | Long             | EC               | CORP              | JP        |   1380591 | NS      | $24626501.77  | 2.05%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                           | BNP Paribas SA                                           | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | Long             | EC               | CORP              | FR        |    431957 | NS      | $39507995.72  | 3.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Cie de Saint-Gobain SA                                   | Cie de Saint-Gobain SA                                   | CUSIP: N/A<br>LEI: NFONVGN05Z0FMN5PEC35       | Long             | EC               | CORP              | FR        |    198707 | NS      | $21530214.42  | 1.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Kering SA                                                | Kering SA                                                | CUSIP: N/A<br>LEI: 549300VGEJKB7SVUZR78       | Long             | EC               | CORP              | FR        |     61878 | NS      | $20735154.00  | 1.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Teleperformance SE                                       | Teleperformance SE                                       | CUSIP: N/A<br>LEI: 9695004GI61FHFFNRG61       | Long             | EC               | CORP              | FR        |    160262 | NS      | $11970514.31  | 1.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Prudential plc                                           | Prudential plc                                           | CUSIP: N/A<br>LEI: 5493001Z3ZE83NGK8Y12       | Long             | EC               | CORP              | GB        |   2526793 | NS      | $35374398.48  | 2.94%             |  |  |  | No            |                  2 | On Loan: No      |
| Koninklijke KPN NV                                       | Koninklijke KPN NV                                       | CUSIP: N/A<br>LEI: 549300YO0JZHAL7FVP81       | Long             | EC               | CORP              | NL        |   3959296 | NS      | $19002797.66  | 1.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Airbus SE                                                | Airbus SE                                                | CUSIP: N/A<br>LEI: MINO79WLOO247M1IL051       | Long             | EC               | CORP              | NL        |    102049 | NS      | $23831093.55  | 1.98%             |  |  |  | No            |                  2 | On Loan: No      |
| St James's Place plc                                     | St. James's Place plc                                    | CUSIP: N/A<br>LEI: 213800M993ICXOMBCP87       | Long             | EC               | CORP              | GB        |   1253267 | NS      | $21450292.19  | 1.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Cie Financiere Richemont SA                              | Cie Financiere Richemont SA                              | CUSIP: N/A<br>LEI: 549300YIPGJ6UX2QPS51       | Long             | EC               | CORP              | CH        |     98553 | NS      | $18918865.74  | 1.57%             |  |  |  | No            |                  2 | On Loan: No      |
| BP plc                                                   | BP plc                                                   | CUSIP: N/A<br>LEI: 213800LH1BZH3DI6G760       | Long             | EC               | CORP              | GB        |   4943623 | NS      | $28384567.10  | 2.36%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                                 | U.S. Treasury Bills                                      | CUSIP: 912797NA1<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   1000000 | PA      | $996742.69    | 0.08%             | 2025-10-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Tencent Holdings Ltd.                                    | Tencent Holdings Ltd.                                    | CUSIP: N/A<br>LEI: 254900N4SLUMW4XUYY11       | Long             | EC               | CORP              | KY        |    273537 | NS      | $23307978.97  | 1.94%             |  |  |  | No            |                  2 | On Loan: No      |
| DBS Group Holdings Ltd.                                  | DBS Group Holdings Ltd.                                  | CUSIP: N/A<br>LEI: 5493007FKT78NKPM5V55       | Long             | EC               | CORP              | SG        |    698428 | NS      | $27698122.82  | 2.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Reckitt Benckiser Group plc                              | Reckitt Benckiser Group plc                              | CUSIP: N/A<br>LEI: 5493003JFSMOJG48V108       | Long             | EC               | CORP              | GB        |    150317 | NS      | $11574713.07  | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| Olympus Corp.                                            | Olympus Corp.                                            | CUSIP: N/A<br>LEI: 5299000Y52IFDI1I2A21       | Long             | EC               | CORP              | JP        |   1327869 | NS      | $16788273.67  | 1.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi UFJ Financial Group, Inc.                     | Mitsubishi UFJ Financial Group, Inc.                     | CUSIP: N/A<br>LEI: 353800V2V8PUY9TK3E06       | Long             | EC               | CORP              | JP        |   1674753 | NS      | $27016074.66  | 2.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Stellantis NV                                            | Stellantis NV                                            | CUSIP: N/A<br>LEI: 549300LKT9PW7ZIBDF31       | Long             | EC               | CORP              | NL        |   2241347 | NS      | $20803199.12  | 1.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Seven & i Holdings Co. Ltd.                              | Seven & i Holdings Co. Ltd.                              | CUSIP: N/A<br>LEI: 52990037G8JRM3TWGY86       | Long             | EC               | CORP              | JP        |   1224877 | NS      | $16435912.95  | 1.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Haleon plc                                               | Haleon plc                                               | CUSIP: N/A<br>LEI: 549300PSB3WWEODCUP19       | Long             | EC               | CORP              | GB        |   4874887 | NS      | $21937875.96  | 1.83%             |  |  |  | No            |                  2 | On Loan: No      |
| Unilever plc                                             | Unilever plc                                             | CUSIP: N/A<br>LEI: 549300MKFYEKVRWML317       | Long             | EC               | CORP              | GB        |    270803 | NS      | $16006799.40  | 1.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Norsk Hydro ASA                                          | Norsk Hydro ASA                                          | CUSIP: N/A<br>LEI: 549300N1SDN71ZZ8BO45       | Long             | EC               | CORP              | NO        |   2409321 | NS      | $16381260.18  | 1.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Schlumberger NV                                          | Schlumberger NV                                          | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |    577791 | NS      | $19858676.67  | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| National Grid plc                                        | National Grid plc                                        | CUSIP: N/A<br>LEI: 8R95QZMKZLJX5Q2XR704       | Long             | EC               | CORP              | GB        |   1282392 | NS      | $18426268.14  | 1.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Roche Holding AG                                         | Roche Holding AG                                         | CUSIP: N/A<br>LEI: 549300U41AUUVOAAOB37       | Long             | EC               | CORP              | CH        |    109764 | NS      | $36549608.20  | 3.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Denso Corp.                                              | Denso Corp.                                              | CUSIP: N/A<br>LEI: 549300RYPA10CQM3QK38       | Long             | EC               | CORP              | JP        |   1434095 | NS      | $20639044.79  | 1.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Shell plc                                                | Shell plc                                                | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | GB        |    686167 | NS      | $24455704.65  | 2.04%             |  |  |  | No            |                  2 | On Loan: No      |
| BASF SE                                                  | BASF SE                                                  | CUSIP: N/A<br>LEI: 529900PM64WH8AF1E917       | Long             | EC               | CORP              | DE        |    350657 | NS      | $17520313.83  | 1.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Toyota Motor Corp.                                       | Toyota Motor Corp.                                       | CUSIP: N/A<br>LEI: 5493006W3QUS5LMH6R84       | Long             | EC               | CORP              | JP        |   1171201 | NS      | $22494632.47  | 1.87%             |  |  |  | No            |                  2 | On Loan: No      |
| UniCredit SpA                                            | UniCredit SpA                                            | CUSIP: N/A<br>LEI: 549300TRUWO2CD2G5692       | Long             | EC               | CORP              | IT        |    278597 | NS      | $21199869.41  | 1.76%             |  |  |  | No            |                  2 | On Loan: No      |
| CNH Industrial NV                                        | CNH Industrial NV                                        | CUSIP: N/A<br>LEI: 549300WGC2HZ5J67V817       | Long             | EC               | CORP              | NL        |   1352652 | NS      | $14676274.20  | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto plc                                            | Rio Tinto plc                                            | CUSIP: N/A<br>LEI: 213800YOEO5OQ72G2R82       | Long             | EC               | CORP              | GB        |    242368 | NS      | $15972645.08  | 1.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Mondelez International, Inc.                             | Mondelez International, Inc., Class A                    | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |    278891 | NS      | $17422320.77  | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Heineken NV                                              | Heineken NV                                              | CUSIP: N/A<br>LEI: 724500K5PTPSST86UQ23       | Long             | EC               | CORP              | NL        |    228358 | NS      | $17882489.00  | 1.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Sony Financial Group, Inc.                               | Sony Financial Group, Inc.                               | CUSIP: N/A<br>LEI: 353800O7BDSU41WOZA60       | Long             | EC               | CORP              | JP        |    479438 | NS      | $531682.27    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CaixaBank SA                                             | CaixaBank SA                                             | CUSIP: N/A<br>LEI: 7CUNS533WID6K7DGFI87       | Long             | EC               | CORP              | ES        |   2542420 | NS      | $26852825.56  | 2.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Telekom AG                                      | Deutsche Telekom AG                                      | CUSIP: N/A<br>LEI: 549300V9QSIG4WX4GJ96       | Long             | EC               | CORP              | DE        |    728051 | NS      | $24804311.37  | 2.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Novartis AG                                              | Novartis AG                                              | CUSIP: N/A<br>LEI: 5493007HIVTX6SY6XD66       | Long             | EC               | CORP              | CH        |    246900 | NS      | $31746004.87  | 2.64%             |  |  |  | No            |                  2 | On Loan: No      |
| AerCap Holdings NV                                       | AerCap Holdings NV                                       | CUSIP: N/A<br>LEI: 549300SZYINBBLJQU475       | Long             | EC               | CORP              | NL        |    217028 | NS      | $26260388.00  | 2.19%             |  |  |  | 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        |  32770982 | NS      | $32770981.92  | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                                 | U.S. Treasury Bills                                      | CUSIP: 912797RC3<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   2000000 | PA      | $1997086.20   | 0.17%             | 2025-10-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Asahi Group Holdings Ltd.                                | Asahi Group Holdings Ltd.                                | CUSIP: N/A<br>LEI: 353800KAJ02XNHLCJW79       | Long             | EC               | CORP              | JP        |   1712735 | NS      | $20533865.73  | 1.71%             |  |  |  | No            |                  2 | On Loan: No      |
| Capgemini SE                                             | Capgemini SE                                             | CUSIP: N/A<br>LEI: 96950077L0TN7BAROX36       | Long             | EC               | CORP              | FR        |    132733 | NS      | $19362743.85  | 1.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Hellenic Telecommunications Organization SA              | Hellenic Telecommunications Organization SA              | CUSIP: N/A<br>LEI: ELPUFM0XZRZO4LFXW404       | Long             | EC               | CORP              | GR        |    829568 | NS      | $15700143.48  | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Electric Corp.                                | Mitsubishi Electric Corp.                                | CUSIP: N/A<br>LEI: 549300TRXM9Y6561AX39       | Long             | EC               | CORP              | JP        |    659447 | NS      | $16937064.82  | 1.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Zabka Group SA                                           | Zabka Group SA                                           | CUSIP: N/A<br>LEI: 549300TU2RZ35E4ET914       | Long             | EC               | CORP              | LU        |   3504326 | NS      | $22654994.36  | 1.89%             |  |  |  | No            |                  2 | On Loan: No      |
| Murata Manufacturing Co. Ltd.                            | Murata Manufacturing Co. Ltd.                            | CUSIP: N/A<br>LEI: 529900QZG6DL8ZRI7140       | Long             | EC               | CORP              | JP        |    757964 | NS      | $14389231.65  | 1.20%             |  |  |  | No            |                  2 | On Loan: No      |
| ASR Nederland NV                                         | ASR Nederland NV                                         | CUSIP: N/A<br>LEI: 7245000G0HS48PZWUD53       | Long             | EC               | CORP              | NL        |    350645 | NS      | $23861157.68  | 1.99%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Electronics Co. Ltd.                             | Samsung Electronics Co. Ltd.                             | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               | CORP              | KR        |    359453 | NS      | $21549325.16  | 1.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Aviva plc                                                | Aviva plc                                                | CUSIP: N/A<br>LEI: YF0Y5B0IB8SM0ZFG9G81       | Long             | EC               | CORP              | GB        |   2265637 | NS      | $20958953.75  | 1.74%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                         | Deutsche Bank AG                                         | CUSIP: N/A<br>LEI: 7LTWFZYICNSX8D621K86       | Long             | EC               | CORP              | DE        |    937415 | NS      | $33199293.06  | 2.76%             |  |  |  | No            |                  2 | On Loan: No      |
| Melrose Industries plc                                   | Melrose Industries plc                                   | CUSIP: N/A<br>LEI: 213800RGNXXZY2M7TR85       | Long             | EC               | CORP              | GB        |   1803360 | NS      | $14846839.90  | 1.24%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** Franklin Mutual Series Funds

**Signature:** Monica Krogh

**Name of Signer:** Monica Krogh

**Title:** Assistant Treasurer