# EDGAR Filing Document

**Accession Number:** 0000825063
**File Stem:** 0002071691-26-012268
**Filing Date:** 2026-5
**Character Count:** 40822
**Document Hash:** 99e77d39215adfbccb926eb864173945
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-26-012268.hdr.sgml**: 20260527

**ACCESSION NUMBER**: 0002071691-26-012268

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260527

**DATE AS OF CHANGE**: 20260527

**PERIOD START**: 20261231

**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:** 261024657

**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 QUEST FUND (Series ID: S000007863)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000021386 | CLASS A      | TEQIX           |
| C000021388 | CLASS C      | TEMQX           |
| C000021389 | CLASS Z      | MQIFX           |
| C000078832 | CLASS R      | FMQSX           |
| C000128730 | Class R6     | FMQRX           |

## 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 Quest Fund

- **b. EDGAR series identifier (if any):** S000007863

- **c. LEI of Series:** NWF7KZ3BJ6U1TY06BL48

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $2646027738.38

**Total Liabilities:** $8748701.21

**Net Assets:** $2637279037.17

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000021389 | 3.56%                | 3.62%                | -6.17%               |
| Class ID C000128730 | 3.57%                | 3.63%                | -6.18%               |
| Class ID C000021386 | 3.51%                | 3.63%                | -6.24%               |
| Class ID C000021388 | 3.44%                | 3.51%                | -6.25%               |
| Class ID C000078832 | 3.51%                | 3.65%                | -6.25%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $17599829.13             | $70057431.70                               |
| Month 2  | $21065189.39             | $72305445.69                               |
| Month 3  | $3808026.85              | $-190078914.94                             |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Alphabet, Inc.                                           | Alphabet, Inc., Class A                                                | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    146283 | NS      | $42065139.48  | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Neptune Bidco US, Inc.                                   | Neptune Bidco US, Inc.                                                 | CUSIP: 640695AD4<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |   6231000 | PA      | $6053347.96   | 0.23%             | 2033-02-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| American Airlines, Inc.                                  | American Airlines, Inc., First Lien, Initial CME Term Loan             | CUSIP: 02376CBM6<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | LON              | CORP              | US        |  15697648 | PA      | $15273811.04  | 0.58%             | 2029-06-04      | Variable      | 5.91%                 | No            |                  2 | On Loan: No      |
| Yen                                                      | Yen                                                                    | CUSIP: N/A<br>LEI: N/A                        | Short            | STIV             |  | JP        |        -1 | OU      | $-0.01        | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Loyalty Ventures, Inc.                                   | Loyalty Ventures, Inc., First Lien, Term Loan, B                       | CUSIP: 54912FAD2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  26135994 | PA      | $2352239.42   | 0.09%             | 2027-11-03      | Variable      | 12.25%                | No            |                  2 | On Loan: No      |
| Sorenson Holdings LLC                                    | Sorenson Holdings LLC, First Lien, Term Loan, B                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        | 127468696 | PA      | $107204125.16 | 4.06%             | 2030-04-01      | Fixed         | 8.00%                 | No            |                  3 | On Loan: No      |
| Roche Holding AG                                         | Roche Holding AG                                                       | CUSIP: N/A<br>LEI: 549300U41AUUVOAAOB37       | Long             | EC               | CORP              | CH        |    110938 | NS      | $44274339.94  | 1.68%             |  |  |  | No            |                  2 | On Loan: No      |
| Danone SA                                                | Danone SA                                                              | CUSIP: N/A<br>LEI: 969500KMUQ2B6CBAF162       | Long             | EC               | CORP              | FR        |    488610 | NS      | $39043425.24  | 1.48%             |  |  |  | No            |                  2 | On Loan: No      |
| British American Tobacco plc                             | British American Tobacco plc                                           | CUSIP: N/A<br>LEI: 213800FKA5MF17RJKT63       | Long             | EC               | CORP              | GB        |    642183 | NS      | $37284392.91  | 1.41%             |  |  |  | No            |                  2 | On Loan: No      |
| AAdvantage Loyalty IP Ltd.                               | AAdvantage Loyalty IP Ltd., First Lien, CME Term Loan                  | CUSIP: 02376CBS3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2028-04-20      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| Sorenson Holdings LLC                                    | Sorenson Holdings LLC, First Lien, Term Loan, A                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |  33331739 | PA      | $32078318.72  | 1.22%             | 2030-04-01      | Fixed         | 10.00%                | No            |                  3 | On Loan: No      |
| DISH Network Corp.                                       | DISH Network Corp.                                                     | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |  37000000 | PA      | $38139230.00  | 1.45%             | 2027-11-15      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| Merck & Co., Inc.                                        | Merck & Co., Inc.                                                      | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |    269292 | NS      | $32393134.68  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas SA                                           | BNP Paribas SA                                                         | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | Long             | EC               | CORP              | FR        |    434613 | NS      | $41402808.40  | 1.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Swiss Franc                                              | Swiss Franc                                                            | CUSIP: N/A<br>LEI: N/A                        | Short            | STIV             |  | CH        |        -0 | OU      | $-0.01        | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Staples, Inc.                                            | Staples, Inc., First Lien, Closing Date CME Term Loan                  | CUSIP: 855031AU4<br>LEI: XQM2JINI1UL7642TU573 | Long             | LON              | CORP              | US        |   9812595 | PA      | $8943248.09   | 0.34%             | 2029-08-23      | Variable      | 9.41%                 | No            |                  2 | On Loan: No      |
| Johnson Controls International plc                       | Johnson Controls International plc                                     | CUSIP: N/A<br>LEI: 549300XQ6S1GYKGBL205       | Long             | EC               | CORP              | IE        |    289345 | NS      | $37889727.75  | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| SES SA                                                   | SES SA                                                                 | CUSIP: N/A<br>LEI: 5493008JPA4HYMH1HX51       | Long             |  | CORP              | LU        |    106029 | NS      | $1656703.13   | 0.06%             |  |  |  | No            |                  3 | On Loan: No      |
| Prudential plc                                           | Prudential plc                                                         | CUSIP: N/A<br>LEI: 5493001Z3ZE83NGK8Y12       | Long             | EC               | CORP              | GB        |   2822698 | NS      | $39244296.85  | 1.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Hartford Insurance Group, Inc. (The)                     | Hartford Insurance Group, Inc. (The)                                   | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |    298639 | NS      | $40384951.97  | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Progressive Corp. (The)                                  | Progressive Corp. (The)                                                | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |    188344 | NS      | $37337314.56  | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Warner Bros Discovery, Inc.                              | Warner Bros Discovery, Inc.                                            | CUSIP: 934423104<br>LEI: 5493006ZCRFWKF6B1K26 | Long             | EC               | CORP              | US        |   1198134 | NS      | $32900759.64  | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbus SE                                                | Airbus SE                                                              | CUSIP: N/A<br>LEI: MINO79WLOO247M1IL051       | Long             | EC               | CORP              | NL        |    142905 | NS      | $27019472.51  | 1.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Inclusive Language Services LLC                          | Inclusive Language Services LLC, Membership Interests, Class B         | CUSIP: N/A<br>LEI: 549300H02Z2SUR0GB419       | Long             | EC               | CORP              | US        |    106532 | NS      | $34895750.81  | 1.32%             |  |  |  | Yes           |                  3 | On Loan: No      |
| St James's Place plc                                     | St. James's Place plc                                                  | CUSIP: N/A<br>LEI: 213800M993ICXOMBCP87       | Long             | EC               | CORP              | GB        |    732283 | NS      | $11554418.99  | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)                 | PNC Financial Services Group, Inc. (The)                               | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |    195929 | NS      | $40770865.61  | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Victory Capital Holdings, Inc.                           | Victory Capital Holdings, Inc., Class A                                | CUSIP: 92645B103<br>LEI: 549300BN5LH2CIPPHS71 | Long             | EC               | CORP              | US        |     36058 | NS      | $2361077.84   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe, Inc.                                              | Adobe, Inc.                                                            | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |    131791 | NS      | $32035756.28  | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Reckitt Benckiser Group plc                              | Reckitt Benckiser Group plc                                            | CUSIP: N/A<br>LEI: 5493003JFSMOJG48V108       | Long             | EC               | CORP              | GB        |    414170 | NS      | $27848932.95  | 1.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Dollar General Corp.                                     | Dollar General Corp.                                                   | CUSIP: 256677105<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | EC               | CORP              | US        |    279126 | NS      | $33140629.98  | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| BP plc                                                   | BP plc                                                                 | CUSIP: N/A<br>LEI: 213800LH1BZH3DI6G760       | Long             | EC               | CORP              | GB        |   7437892 | NS      | $58214917.87  | 2.21%             |  |  |  | No            |                  2 | On Loan: No      |
| UniFirst Corp.                                           | UniFirst Corp.                                                         | CUSIP: 904708104<br>LEI: 5493003XBTNWBC8UK019 | Long             | EC               | CORP              | US        |     48774 | NS      | $12271050.66  | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Staples, Inc.                                            | Staples, Inc.                                                          | CUSIP: 855030AQ5<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9255893.00   | 0.35%             | 2029-09-01      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| Gap, Inc. (The)                                          | Gap, Inc. (The)                                                        | CUSIP: 364760108<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | EC               | CORP              | US        |   1160915 | NS      | $28094143.00  | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| International Paper Co.                                  | International Paper Co.                                                | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Long             | EC               | CORP              | US        |    577142 | NS      | $20603969.40  | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms, Inc.                                     | Meta Platforms, Inc., Class A                                          | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     46338 | NS      | $26511359.94  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Cooper Cos., Inc. (The)                                  | Cooper Cos., Inc. (The)                                                | CUSIP: 216648501<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |    512817 | NS      | $36666415.50  | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Uniti Group, Inc.                                        | Uniti Group, Inc.                                                      | CUSIP: N/A<br>LEI: 549300V3NU625PJUVA84       | Long             |  | CORP              | US        |    334087 | NS      | $2433538.82   | 0.09%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Arthur J Gallagher & Co.                                 | Arthur J Gallagher & Co.                                               | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |    199867 | NS      | $43287194.86  | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL Corp.                                                | PPL Corp.                                                              | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |   1082445 | NS      | $41349399.00  | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co.                                        | Wells Fargo & Co.                                                      | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |    430935 | NS      | $34306735.35  | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Walter Energy, Inc.                                      | Walter Energy, Inc., Litigation Trust, Contingent Distribution         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |   7443000 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Cisco Systems, Inc.                                      | Cisco Systems, Inc.                                                    | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |    534277 | NS      | $41454552.43  | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi UFJ Financial Group, Inc.                     | Mitsubishi UFJ Financial Group, Inc.                                   | CUSIP: N/A<br>LEI: 353800V2V8PUY9TK3E06       | Long             | EC               | CORP              | JP        |   2170776 | NS      | $36759779.49  | 1.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Stellantis NV                                            | Stellantis NV                                                          | CUSIP: N/A<br>LEI: 549300LKT9PW7ZIBDF31       | Long             | EC               | CORP              | NL        |   1310398 | NS      | $9471009.89   | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Uniti Group, Inc.                                        | Uniti Group, Inc.                                                      | CUSIP: N/A<br>LEI: 549300V3NU625PJUVA84       | Long             | EC               | CORP              | US        |   1714983 | NS      | $16086540.54  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| PPG Industries, Inc.                                     | PPG Industries, Inc.                                                   | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |    242308 | NS      | $25897879.04  | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Travelport Finance Luxembourg SARL                       | Travelport Finance Luxembourg SARL, First Lien, Priority CME Term Loan | CUSIP: L9308UAU4<br>LEI: N/A                  | Long             | LON              | CORP              | LU        |  29060906 | PA      | $21897392.76  | 0.83%             | 2028-09-29      | Variable      | 9.36%                 | No            |                  2 | On Loan: No      |
| Staples, Inc.                                            | Staples, Inc.                                                          | CUSIP: 855030AS1<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |  29000000 | PA      | $19625465.80  | 0.74%             | 2030-01-15      | Fixed         | 12.75%                | No            |                  2 | On Loan: No      |
| SLB Ltd.                                                 | SLB Ltd.                                                               | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |    950145 | NS      | $48827951.55  | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Colgate-Palmolive Co.                                    | Colgate-Palmolive Co.                                                  | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |    452523 | NS      | $38568535.29  | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Won                                                      | Won                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | KR        |       127 | OU      | $0.08         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Denso Corp.                                              | Denso Corp.                                                            | CUSIP: N/A<br>LEI: 549300RYPA10CQM3QK38       | Long             | EC               | CORP              | JP        |   2590235 | NS      | $32476583.13  | 1.23%             |  |  |  | No            |                  2 | On Loan: No      |
| CoreLogic, Inc.                                          | CoreLogic, Inc., First Lien, Initial CME Term Loan                     | CUSIP: 21870FBA6<br>LEI: 54930086CD8K2UIL0516 | Long             | LON              | CORP              | US        |   7503919 | PA      | $7194419.44   | 0.27%             | 2028-06-02      | Variable      | 7.28%                 | No            |                  2 | On Loan: No      |
| Zimmer Biomet Holdings, Inc.                             | Zimmer Biomet Holdings, Inc.                                           | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |    313507 | NS      | $28347302.94  | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Cintas Corp.                                             | Cintas Corp.                                                           | CUSIP: 172908105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -37654 | NS      | $-6368797.56  | -0.24%            |  |  |  | No            |                  1 | On Loan: No      |
| Ingersoll Rand, Inc.                                     | Ingersoll Rand, Inc.                                                   | CUSIP: 45687V106<br>LEI: 5299004C02FMZCUOIR50 | Long             | EC               | CORP              | US        |    394944 | NS      | $31642913.28  | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Janus Henderson Group plc                                | Janus Henderson Group plc                                              | CUSIP: N/A<br>LEI: 2138009WPYMWJN3RVF44       | Long             | EC               | CORP              | JE        |    291829 | NS      | $14991255.73  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Neptune Bidco US, Inc.                                   | Neptune Bidco US, Inc., First Lien, 2026 Dollar CME Term Loan, B       | CUSIP: 64069JAK8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  85000000 | PA      | $81260000.00  | 3.08%             | 2033-02-03      | Variable      | 8.76%                 | No            |                  2 | On Loan: No      |
| UniCredit SpA                                            | UniCredit SpA                                                          | CUSIP: N/A<br>LEI: 549300TRUWO2CD2G5692       | Long             | EC               | CORP              | IT        |    446381 | NS      | $32025072.20  | 1.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Global Payments, Inc.                                    | Global Payments, Inc.                                                  | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Long             | EC               | CORP              | US        |    329028 | NS      | $22143584.40  | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| CNH Industrial NV                                        | CNH Industrial NV                                                      | CUSIP: N/A<br>LEI: 549300WGC2HZ5J67V817       | Long             | EC               | CORP              | NL        |   1622208 | NS      | $17844288.00  | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| ArcelorMittal SA                                         | ArcelorMittal SA                                                       | CUSIP: N/A<br>LEI: 2EULGUTUI56JI9SAL165       | Long             | EC               | CORP              | LU        |    805249 | NS      | $41761419.74  | 1.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Siemens AG                                               | Siemens AG                                                             | CUSIP: N/A<br>LEI: W38RGI023J3WT1HWRP32       | Long             | EC               | CORP              | DE        |     47125 | NS      | $11481256.53  | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Walt Disney Co. (The)                                    | Walt Disney Co. (The)                                                  | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |    372943 | NS      | $35944246.34  | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Evergy, Inc.                                             | Evergy, Inc.                                                           | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |    382452 | NS      | $31330467.84  | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Fresenius SE & Co. KGaA                                  | Fresenius SE & Co. KGaA                                                | CUSIP: N/A<br>LEI: XDFJ0CYCOO1FXRFTQS51       | Long             | EC               | CORP              | DE        |    655657 | NS      | $34025819.80  | 1.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Bosgaerde BV                                             | Bosgaerde BV, Escrow Account                                           | CUSIP: N/A<br>LEI: 724500SEMY2K987RV910       | Long             | EC               | CORP              | NL        |    159828 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Uniti Group, Inc.                                        | Uniti Group, Inc.                                                      | CUSIP: N/A<br>LEI: 549300V3NU625PJUVA84       | Long             | EC               | CORP              | US        |     10941 | NS      | $11762421.71  | 0.45%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Elevance Health, Inc.                                    | Elevance Health, Inc.                                                  | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |     87042 | NS      | $25481545.50  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp.                                      | Union Pacific Corp.                                                    | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     82885 | NS      | $20109558.70  | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Zscaler, Inc.                                            | Zscaler, Inc.                                                          | CUSIP: 98980GAC6<br>LEI: 529900MZ0RTK1BWRNF46 | Long             | DBT              | CORP              | US        |   7500000 | PA      | $6831722.93   | 0.26%             | 2028-07-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Baker Hughes Co.                                         | Baker Hughes Co., Class A                                              | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    541386 | NS      | $33051615.30  | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| United Rentals, Inc.                                     | United Rentals, Inc.                                                   | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |     44596 | NS      | $32490861.76  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Heineken NV                                              | Heineken NV                                                            | CUSIP: N/A<br>LEI: 724500K5PTPSST86UQ23       | Long             | EC               | CORP              | NL        |    426263 | NS      | $32787430.59  | 1.24%             |  |  |  | No            |                  2 | On Loan: No      |
| EOG Resources, Inc.                                      | EOG Resources, Inc.                                                    | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |    433728 | NS      | $62704056.96  | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Neptune Bidco US, Inc.                                   | Neptune Bidco US, Inc.                                                 | CUSIP: 640695AC6<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |  34440400 | PA      | $34781807.69  | 1.32%             | 2031-05-15      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| Deutsche Telekom AG                                      | Deutsche Telekom AG                                                    | CUSIP: N/A<br>LEI: 549300V9QSIG4WX4GJ96       | Long             | EC               | CORP              | DE        |   1058061 | NS      | $39490293.22  | 1.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Dover Corp.                                              | Dover Corp.                                                            | CUSIP: 260003108<br>LEI: 549300FMC2ALGA7N9E80 | Long             | EC               | CORP              | US        |    178835 | NS      | $37278155.75  | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Voya Financial, Inc.                                     | Voya Financial, Inc.                                                   | CUSIP: 929089100<br>LEI: 549300T065Z4KJ686G75 | Long             | EC               | CORP              | US        |    349041 | NS      | $23846481.12  | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Brighthouse Financial, Inc.                              | Brighthouse Financial, Inc.                                            | CUSIP: 10922N103<br>LEI: 5493003T8SZSHOGGAW52 | Long             | EC               | CORP              | US        |    621025 | NS      | $37186977.00  | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| AerCap Holdings NV                                       | AerCap Holdings NV                                                     | CUSIP: N/A<br>LEI: 549300SZYINBBLJQU475       | Long             | EC               | CORP              | NL        |    188260 | NS      | $25825506.80  | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co. Ltd.                             | Samsung Electronics Co. Ltd.                                           | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EP               | CORP              | KR        |    238730 | NS      | $19271142.33  | 0.73%             |  |  |  | No            |                  2 | 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        |  75587015 | NS      | $75587015.07  | 2.87%             |  |  |  | No            |                  1 | On Loan: No      |
| EURO                                                     | EURO                                                                   | CUSIP: N/A<br>LEI: N/A                        | Short            | STIV             |  | XX        |        -0 | OU      | $-0.03        | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Aptiv plc                                                | Aptiv plc                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JE        |    468791 | NS      | $32552847.04  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Lucid Group, Inc.                                        | Lucid Group, Inc.                                                      | CUSIP: 549498AA1<br>LEI: 529900MRL9Z13ZCRVD74 | Long             | DBT              | CORP              | US        |   7500000 | PA      | $7050000.00   | 0.27%             | 2026-12-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Electronic Arts, Inc.                                    | Electronic Arts, Inc.                                                  | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |    184329 | NS      | $37579153.23  | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Entergy Corp.                                            | Entergy Corp.                                                          | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |    314304 | NS      | $35315197.44  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                              | Novartis AG                                                            | CUSIP: 66987V109<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |    310110 | NS      | $47369302.50  | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Pound Sterling                                           | Pound Sterling                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | GB        |   2336463 | OU      | $3092542.43   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| ASR Nederland NV                                         | ASR Nederland NV                                                       | CUSIP: N/A<br>LEI: 7245000G0HS48PZWUD53       | Long             | EC               | CORP              | NL        |    620436 | NS      | $42715065.77  | 1.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Electronics Co. Ltd.                             | Samsung Electronics Co. Ltd.                                           | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               | CORP              | KR        |    239133 | NS      | $27969328.43  | 1.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Terns Pharmaceuticals, Inc.                              | Terns Pharmaceuticals, Inc.                                            | CUSIP: 880881107<br>LEI: 254900S1ZDQMF4MYP709 | Long             | EC               | CORP              | US        |     50297 | NS      | $2651657.84   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Beazley plc                                              | Beazley plc                                                            | CUSIP: N/A<br>LEI: 213800VTOMUWD41GIT12       | Long             | EC               | CORP              | GB        |   1716804 | NS      | $29007775.73  | 1.10%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-30

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

**Signature:** Monica Krogh

**Name of Signer:** Monica Krogh

**Title:** Assistant Treasurer