# EDGAR Filing Document

**Accession Number:** 0000872625
**File Stem:** 0001752724-25-166015
**Filing Date:** 2025-7
**Character Count:** 345681
**Document Hash:** d197a0caf96e76e3f3c955eadc3f6d28
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-166015.hdr.sgml**: 20250711

**ACCESSION NUMBER**: 0001752724-25-166015

**CONFORMED SUBMISSION TYPE**: N-CEN

**PUBLIC DOCUMENT COUNT**: 5

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250711

**DATE AS OF CHANGE**: 20250711

**EFFECTIVENESS DATE**: 20250711

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FRANKLIN STRATEGIC SERIES
- **CENTRAL INDEX KEY:** 0000872625

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** N-CEN
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06243
- **FILM NUMBER:** 251118945

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403-1906
- **BUSINESS PHONE:** 650-570-3000

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRANKLIN CALIFORNIA 250 GROWTH FUND
- **DATE OF NAME CHANGE:** 19911216

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRANKLIN CALIFORNIA 250 GROWTH INDEX FUND
- **DATE OF NAME CHANGE:** 19910917

## Series and Classes Contracts Data

### FRANKLIN GROWTH OPPORTUNITIES FUND (Series ID: S000006878)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018615 | CLASS A       | FGRAX           |
| C000018617 | CLASS C       | FKACX           |
| C000018618 | ADVISOR CLASS | FRAAX           |
| C000018619 | CLASS R       | FKARX           |
| C000128860 | Class R6      | FOPPX           |

### FRANKLIN CORE PLUS BOND FUND (Series ID: S000006879)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018620 | CLASS A       | FRSTX           |
| C000018622 | CLASS C       | FSGCX           |
| C000018623 | ADVISOR CLASS | FKSAX           |
| C000018624 | CLASS R       | FKSRX           |
| C000128861 | Class R6      | FGKNX           |

### FRANKLIN BIOTECHNOLOGY DISCOVERY FUND (Series ID: S000006882)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018631 | CLASS A       | FBDIX           |
| C000081539 | ADVISOR CLASS | FTDZX           |
| C000128862 | Class R6      | FRBRX           |
| C000141458 | Class C       | FBTDX           |

### FRANKLIN NATURAL RESOURCES FUND (Series ID: S000006887)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018647 | CLASS C       | FNCRX           |
| C000018648 | CLASS A       | FRNRX           |
| C000018649 | ADVISOR CLASS | FNRAX           |
| C000132949 | Class R6      | FNCSX           |

### FRANKLIN SMALL-MID CAP GROWTH FUND (Series ID: S000006888)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018650 | CLASS A       | FRSGX           |
| C000018652 | CLASS C       | FRSIX           |
| C000018653 | ADVISOR CLASS | FSGAX           |
| C000018654 | CLASS R       | FSMRX           |
| C000128864 | Class R6      | FMGGX           |

### FRANKLIN SMALL CAP GROWTH FUND (Series ID: S000006889)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018655 | CLASS A       | FSGRX           |
| C000018657 | CLASS C       | FCSGX           |
| C000018658 | ADVISOR CLASS | FSSAX           |
| C000018659 | CLASS R       | FSSRX           |
| C000128865 | Class R6      | FSMLX           |

## Exempt

```

UNITED STATES OF AMERICA
BEFORE THE
SECURITIES AND EXCHANGE COMMISSION
INVESTMENT COMPANY ACT OF 1940
Release no. 32722/July 3, 2017
________________________________________________
In the Matter of :
:
Franklin Fund Allocator Series :
Franklin Advisers, Inc. :
Franklin Templeton Distributors, Inc. :
:
One Franklin Parkway :
San Mateo, CA 94403 :
:
(812-14611) :
________________________________________________:
ORDER UNDER SECTION 12(d)(1)(J) OF THE INVESTMENT COMPANY ACT OF
 1940 GRANTING AN EXEMPTION FROM SECTIONS 12(d)(1)(A), (B), AND
 (C) OF THE ACT, UNDER SECTIONS 6(c) AND 17(b) OF THE ACT
GRANTING AN EXEMPTION FROM SECTION 17(a) OF THE ACT, AND UNDER
 SECTION 6(C) OF THE ACT FOR AN EXEMPTION FROM RULE 12d1-2(a)
UNDER THE ACT
Franklin Fund Allocator Series, Franklin Advisers, Inc., and
 Franklin Templeton Distributors, Inc. filed an application
on February 9, 2016, and an amendment to the application on
May 23, 2017, requesting an order under section 12(d)(1)(J)
of the Investment Company Act of 1940 (the "Act") granting
 an exemption from sections 12(d)(1)(A), (B), and (C) of the
 Act, under sections 6(c) and 17(b) of the Act granting an
exemption from section 17(a) of the Act, and under section
6(c) of the Act for an exemption from rule 12d1-2(a) under
the Act. The order would permit (a) certain registered open-end
management investment companies that operate as "funds of funds"
 to acquire shares of certain registered open-end management
 investment companies, registered closed-end management investment
 companies, "business development companies," as defined by section
 2(a)(48) of the Act, and registered unit investment trusts that
 are within and outside the same group of investment companies as
 the acquiring investment companies and (b) certain registered
 open-end management investment companies relying on rule 12d1-2
 under the Act to invest in certain financial instruments.
On June 5, 2017, a notice of the filing of the application was
issued (Investment Company Act Release No. 32669). The notice
 gave interested persons an opportunity to request a hearing
 and stated that an order granting the application would be
issued unless a hearing was ordered. No request for a hearing
 has been filed, and the Commission has not ordered a hearing.
2
The matter has been considered and it is found, on the basis
of the information set forth in the application, as amended,
that granting the requested exemption is appropriate in and
consistent with the public interest and consistent with the
protection of investors and the purposes fairly intended by
 the policy and provisions of the Act.
It is also found that the terms of the proposed transactions
 are reasonable and fair and do not involve overreaching, and
 the proposed transactions are consistent with the policies of
 each registered investment company concerned and with the
 general purposes of the Act.
Accordingly,
IT IS ORDERED, that the relief requested under section 12(d)(1)(J)
 of the Act from sections 12(d)(1)(A), (B), and (C) of the Act,
 under sections 6(c) and 17(b) of the Act from section 17(a) of
the Act, and under section 6(c) of the Act for an exemption from
 rule 12d1-2(a) under the Act by Franklin Fund Allocator Series,
et al. (File No. 812-14611) is granted, effective immediately,
subject to the conditions contained in the application, as amended.
For the Commission, by the Division of Investment Management,
 under delegated authority.
Eduardo Aleman
Assistant Secretary

```

## Exempt

```

UNITED STATES OF AMERICA
BEFORE THE
SECURITIES AND EXCHANGE COMMISSION
INVESTMENT COMPANY ACT OF 1940
Release No. 33117 / June 5, 2018
__________________________________________________________________
In the Matter of :
:
FRANKLIN ALTERNATIVE STRATEGIES FUNDS :
FRANKLIN CALIFORNIA TAX-FREE INCOME FUND :
FRANKLIN CALIFORNIA TAX-FREE TRUST :
FRANKLIN CUSTODIAN FUNDS :
FRANKLIN ETF TRUST :
FRANKLIN FEDERAL TAX-FREE INCOME FUND :
FRANKLIN FLOATING RATE MASTER TRUST :
FRANKLIN FUND ALLOCATOR SERIES :
FRANKLIN GLOBAL TRUST :
FRANKLIN GOLD AND PRECIOUS METALS FUND :
FRANKLIN HIGH INCOME TRUST :
FRANKLIN INVESTORS SECURITIES TRUST :
FRANKLIN MANAGED TRUST :
FRANKLIN U.S. GOVERNMENT MONEY FUND :
FRANKLIN MUNICIPAL SECURITIES TRUST :
FRANKLIN MUTUAL SERIES FUNDS :
FRANKLIN NEW YORK TAX-FREE INCOME FUND :
FRANKLIN NEW YORK TAX-FREE TRUST :
FRANKLIN REAL ESTATE SECURITIES TRUST :
FRANKLIN STRATEGIC MORTGAGE PORTFOLIO :
FRANKLIN STRATEGIC SERIES :
FRANKLIN TAX-FREE TRUST :
FRANKLIN TEMPLETON ETF TRUST :
FRANKLIN TEMPLETON GLOBAL TRUST :
FRANKLIN TEMPLETON INTERNATIONAL TRUST :
FRANKLIN TEMPLETON MONEY FUND TRUST :
FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST :
FRANKLIN VALUE INVESTORS TRUST :
INSTITUTIONAL FIDUCIARY TRUST :
TEMPLETON CHINA WORLD FUND :
TEMPLETON DEVELOPING MARKETS TRUST :
TEMPLETON FUNDS :
TEMPLETON GLOBAL INVESTMENT TRUST :
TEMPLETON GLOBAL OPPORTUNITIES TRUST :
TEMPLETON GLOBAL SMALLER COMPANIES FUND :
TEMPLETON GROWTH FUND, INC. :
TEMPLETON INCOME TRUST :
TEMPLETON INSTITUTIONAL FUNDS :
THE MONEY MARKET PORTFOLIOS :
FRANKLIN LIMITED DURATION INCOME TRUST :
2
FRANKLIN UNIVERSAL TRUST :
TEMPLETON DRAGON FUND, INC. :
TEMPLETON EMERGING MARKETS FUND :
TEMPLETON EMERGING MARKETS INCOME FUND :
TEMPLETON GLOBAL INCOME FUND :
FRANKLIN ADVISERS, INC. :
FRANKLIN TEMPLETON INVESTMENT MANAGEMENT LIMITED :
K2/D&S MANAGEMENT CO., L.L.C. :
FASA LLC :
FRANKLIN TEMPLETON INSTITUTIONAL, LLC :
FRANKLIN ADVISORY SERVICES, LLC :
FRANKLIN MUTUAL ADVISERS, LLC :
TEMPLETON INVESTMENT COUNSEL, LLC :
TEMPLETON ASSET MANAGEMENT LTD. :
TEMPLETON GLOBAL ADVISORS LIMITED :
:
One Franklin Parkway :
San Mateo, CA 94403 :
:
(812-14819) :
__________________________________________________________________:
ORDER UNDER SECTION 6(c) OF THE INVESTMENT COMPANY ACT OF 1940
GRANTING AN EXEMPTION FROM SECTIONS 18(f) AND 21(b) OF THE ACT;
UNDER
SECTION 12(d)(1)(J) OF THE ACT GRANTING AN EXEMPTION FROM SECTION
12(d)(1) OF THE ACT; UNDER SECTIONS 6(c) AND 17(b) OF THE ACT
GRANTING AN
EXEMPTION FROM SECTIONS 17(a)(1), 17(a)(2), AND 17(a)(3) OF THE
 ACT; AND
UNDER SECTION 17(d) OF THE ACT AND RULE 17d-1 UNDER THE ACT TO
 PERMIT
CERTAIN JOINT ARRANGEMENTS AND TRANSACTIONS
Franklin Alternative Strategies Funds, Franklin California Tax-Free
 Income Fund, Franklin
California Tax-Free Trust, Franklin Custodian Funds, Franklin ETF
Trust, Franklin Federal Tax-
Free Income Fund, Franklin Floating Rate Master Trust, Franklin Fund
 Allocator Series, Franklin
Global Trust, Franklin Gold and Precious Metals Fund, Franklin High
 Income Trust, Franklin
Investors Securities Trust, Franklin Managed Trust, Franklin U.S.
 Government Money Fund,
Franklin Municipal Securities Trust, Franklin Mutual Series Funds,
 Franklin New York Tax-Free
Income Fund, Franklin New York Tax-Free Trust, Franklin Real Estate
 Securities Trust, Franklin
Strategic Mortgage Portfolio, Franklin Strategic Series, Franklin
 Tax-Free Trust, Franklin
Templeton ETF Trust, Franklin Templeton Global Trust, Franklin
Templeton International Trust,
Franklin Templeton Money Fund Trust, Franklin Templeton Variable
 Insurance Products Trust,
Franklin Value Investors Trust, Institutional Fiduciary Trust,
 Templeton China World Fund,
Templeton Developing Markets Trust, Templeton Funds, Templeton
 Global Investment Trust,
Templeton Global Opportunities Trust, Templeton Global Smaller
 Companies Fund, Templeton
Growth Fund, Inc., Templeton Income Trust, Templeton Institutional
Funds, The Money Market
Portfolios, Franklin Limited Duration Income Trust, Franklin
 Universal Trust, Templeton Dragon
Fund, Inc., Templeton Emerging Markets Fund, Templeton Emerging
 Markets Income Fund, and
Templeton Global Income Fund, Franklin Advisers, Inc., Franklin
 Templeton Investment
Management Limited, K2/D&S Management Co., L.L.C., FASA LLC,
Franklin Templeton
Institutional, LLC, Franklin Advisory Services, LLC, Franklin
Mutual Advisers, LLC, Templeton
3
Investment Counsel, LLC, Templeton Asset Management Ltd., and
 Templeton Global Advisors
Limited filed an application on September 14, 2017, and an
amendment on March 9, 2018.
Applicants requested an order under section 6(c) of the Investment
 Company Act of 1940 (the
"Act") for an exemption from sections 18(f) and 21(b) of the Act,
 under section 12(d)(1)(J) of
the Act for an exemption from section 12(d)(1) of the Act, under
 sections 6(c) and 17(b) of the
Act for an exemption from sections 17(a)(1), 17(a)(2), and 17(a)(3)
 of the Act, and under section
17(d) of the Act and rule 17d-1 under the Act to permit certain
joint arrangements and
transactions. The order supersedes a prior order1 and permits
certain registered management
investment companies to participate in a joint lending and
borrowing facility.
On May 10, 2018, a notice of the filing of the application was
 issued (Investment Company Act
Release No. 33095). The notice gave interested persons an
 opportunity to request a hearing and
stated that an order disposing of the application would be issued
unless a hearing was ordered.
No request for a hearing has been filed, and the Commission has
not ordered a hearing.
The matter has been considered and it is found, on the basis of
the information set forth in the
application, as amended, that granting the requested exemption
 is consistent with and appropriate
in the public interest, and consistent with the protection of
investors and the purposes fairly
intended by the policy and provisions of the Act.
It is also found that the terms of the proposed transactions,
including the consideration to be paid
or received, are reasonable and fair and do not involve
overreaching on the part of any person
concerned, and that the proposed transactions are consistent
with the policy of each registered
investment company concerned and the general purposes of the
 Act.
It is further found that the participation of each registered
 investment company in the proposed
credit facility is consistent with the provisions, policies,
and purposes of the Act, and not on a
basis different from or less advantageous than that of other
participants.
Accordingly, in the matter of Franklin Alternative Strategies
Funds, et al., (File No. 812-14819),
IT IS ORDERED, under section 6(c) of the Act, that the requested
 exemptions from sections
18(f) and 21(b) of the Act are granted, effective immediately,
 subject to the conditions in the
application, as amended.
IT IS FURTHER ORDERED, under section 12(d)(1)(J) of the Act,
that the requested exemption
from section 12(d)(1) of the Act is granted, effective immediately,
 subject to the conditions in
the application, as amended.
IT IS FURTHER ORDERED, under sections 6(c) and 17(b) of the Act,
 that the requested
exemptions from sections 17(a)(1), 17(a)(2), and 17(a)(3) of the
 Act are granted, effective
immediately, subject to the conditions in the application, as
amended.
1 Franklin Gold Fund, et al., Investment Company Act Release Nos.
 24016 (Sept. 16, 1999) (notice) and
24080 (Oct. 13, 1999) (order).
4
IT IS FURTHER ORDERED, under section 17(d) of the Act and rule
17d-1 under the Act, that
the proposed transactions are approved, effective immediately,
 subject to the conditions in the
application, as amended.
For the Commission, by the Division of Investment Management,
under delegated authority.
Eduardo A. Aleman
Assistant Secretary

```

## Exempt

```

SEC Releases, In the Matter of Age High Income Fund, Inc., et al.,
777 Mariners Island Boulevard, San Mateo, CA 94404, Securities and
 Exchange Commission, (Jan. 13, 1987)
SEC Releases
 Click to open document in a browser
37 SEC-DOCKET 569-02
Release No. IC-15534
File No. 812-6505
January 13, 1987
ORDER PERMITTING JOINT TRADING ACCOUNTS
AGE High Income Fund, Inc; Birr, Wilson Money Fund; Franklin
 California Tax-Free Income Fund, Inc.; Franklin New York Tax-Free
Income Fund, Inc; Franklin California Tax-Free Trust; Franklin
Tax-Free Trust; Franklin Corporate Cash Management Fund; Franklin
 Custodian Funds, Inc; Franklin Equity Fund; Franklin Federal Money
 Fund; Franklin Federal Tax-Free Income Fund; Franklin Gold Fund;
Franklin Money Fund; Franklin Option Fund; Franklin Tax-Exempt Money
 Fund; Franklin New York Tax-Exempt Money Fund; Franklin
Pennsylvania Investors Fund; and Institutional Fiduciary Trust
("Funds") and Franklin Advisers, Inc., filed an application on
 October 17, 1986, and an amendment thereto on November 24,
1986, requesting an order of the Commission under Section 17(d)
 of the Investment Company Act of 1940 ("Act") and Rule 17d-1
 thereunder to permit the Funds, as well as future investment
 companies for which subsidiaries or affiliates of Franklin
 Resources, Inc. serve as investment managers, to deposit
their cash balances remaining uninvested at the end of each
trading day into a single joint account whose daily balance
would be used to enter into one or more repurchase agreements
 in a total amount equal to the aggregate daily balance in
 the account ("Joint Accounts").
On December 17, 1986, a notice was issued (Investment Company
Act Release No. 15485) of the filing of the application. The
 notice gave interested persons an opportunity to request a
hearing and stated that an order disposing of the application
would be issued as of course unless a hearing should be ordered.
 No request for a hearing has been filed, and the Commission has
 not ordered a hearing.
The matter having been considered, it is found that the
participation of the Funds in the Joint Accounts is consistent
 with the provisions, policies and purposes of the Act and that
 their participation in the Joint Accounts is not on a basis less
 advantageous than that of any other participant. Accordingly,
IT IS ORDERED, pursuant to Section 17(d) of the Act and Rule 17d-1
 thereunder that the application to permit the Funds to participate
 in the Joint Accounts as described in the application, be, and
hereby is granted, effective forthwith.
For the Commission, by the Division of Investment Management,
under delegated authority.
Jonathan G. Katz
Secretary

```

## Internal

```

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Franklin Strategic Series and
Shareholders of Franklin Biotechnology Discovery Fund, Franklin
Core Plus Bond Fund, Franklin Growth Opportunities Fund, Franklin
Natural Resources Fund, Franklin Small Cap Growth Fund and
Franklin Small-Mid Cap Growth Fund

In planning and performing our audits of the financial statements
of Franklin Biotechnology Discovery Fund, Franklin Core Plus Bond
Fund, Franklin Growth Opportunities Fund, Franklin Natural Resources
Fund, Franklin Small Cap Growth Fund and Franklin Small-Mid Cap Growth
Fund (six of the funds constituting Franklin Strategic Series,
hereafter collectively referred to as the "Funds") as of and for
the year ended April 30, 2025, in accordance with the standards of
the Public Company Accounting Oversight Board (United States) (PCAOB),
we considered the Funds' internal control over financial reporting,
including controls over safeguarding securities, as a basis for
designing our auditing procedures for the purpose of expressing
our opinion on the financial statements and to comply with the
requirements of Form N-CEN, but not for the purpose of expressing
an opinion on the effectiveness of the Funds' internal control over
financial reporting. Accordingly, we do not express an opinion on the
effectiveness of the Funds' internal control over financial reporting.

The management of the Funds is responsible for establishing and
maintaining effective internal control over financial reporting.
In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and
related costs of controls. A company's internal control over
financial reporting is a process designed to provide reasonable
assurance regarding the reliability of financial reporting and
the preparation of financial statements for external purposes
in accordance with generally accepted accounting principles.
A company's internal control over financial reporting includes
those policies and procedures that (1) pertain to the maintenance
of records that, in reasonable detail, accurately and fairly reflect
the transactions and dispositions of the assets of the company;
(2) provide reasonable assurance that transactions are recorded
as necessary to permit preparation of financial statements in
accordance with generally accepted accounting principles, and
that receipts and expenditures of the company are being made
only in accordance with authorizations of management and directors
of the company; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorized acquisition,
use or disposition of a company's assets that could have a
material effect on the financial statements.

Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements.
Also, projections of any evaluation of effectiveness to
future periods are subject to the risk that controls may become
inadequate because of changes in conditions, or that the degree
of compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists
when the design or operation of a control does not allow management
or employees, in the normal course of performing their assigned
functions, to prevent or detect misstatements on a timely basis.
A material weakness is a deficiency, or a combination of deficiencies,
in internal control over financial reporting, such that there is a
reasonable possibility that a material misstatement of the company's
annual or interim financial statements will not be prevented or
detected on a timely basis.

Our consideration of the Funds' internal control over financial
reporting was for the limited purpose described in the first paragraph
and would not necessarily disclose all deficiencies in internal control
over financial reporting that might be material weaknesses under
standards established by the PCAOB. However, we noted no deficiencies
in the Funds' internal control over financial reporting and its
operation, including controls over safeguarding securities, that
we consider to be a material weakness as defined above as of
April 30, 2025.

This report is intended solely for the information and use of the
Board of Trustees of Franklin Strategic Series and the Securities
and Exchange Commission and is not intended to be and should not
be used by anyone other than these specified parties.

/s/PricewaterhouseCoopers LLP
San Francisco, California
June 18, 2025

```

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

## N-CEN: Filer Information
**Submission Type:** N-CEN
**CIK:** 0000872625

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

**Series ID Record:1**
- **Series ID:** S000006878

**Series ID Record:2**
- **Series ID:** S000006888

**Series ID Record:3**
- **Series ID:** S000006882

**Series ID Record:4**
- **Series ID:** S000006889

**Series ID Record:5**
- **Series ID:** S000006887

**Series ID Record:6**
- **Series ID:** S000006879

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

**Item A.1.a - Report for period ending:** 2025-04-30

**Item A.1.b - Does this report cover a period of less than 12 months?:** No

## N-CEN: Part B: Information About the Registrant

- **Item B.1.a - Full name of Registrant:** FRANKLIN STRATEGIC SERIES

- **Item B.1.b - Investment Company Act file number:** 811-06243

- **Item B.1.c - CIK:** 0000872625

- **Item B.1.d - LEI:** 549300NDWC0J6DXVSX36

- **Item B.2.a - Street 1:** ONE FRANKLIN PARKWAY

- **Item B.2.b - City:** SAN MATEO

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

- **Item B.2.e - Zip Code:** 94403-1906

- **Item B.2.f - Telephone:** 650-312-2000

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

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

**Location books Record: 1**

- **a. Name of person (e.g., a custodian of records):** JPMorgan Chase Bank, N.A.

- **b. Street 1:** 390 Madison Avenue

- **c. City:** New York

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

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

- **f. Zip code and zip code extension, or foreign postal code:** 10017

- **g. Telephone number:** 212-464-1909

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

**Location books Record: 2**

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

- **b. Street 1:** One Franklin Parkway

- **c. City:** San Mateo

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

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

- **f. Zip code and zip code extension, or foreign postal code:** 94403-1906

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

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

**Location books Record: 3**

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

- **b. Street 1:** One Franklin Parkway

- **c. City:** San Mateo

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

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

- **f. Zip code and zip code extension, or foreign postal code:** 94403-1906

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

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

**Location books Record: 4**

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

- **b. Street 1:** One Franklin Parkway

- **c. City:** San Mateo

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

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

- **f. Zip code and zip code extension, or foreign postal code:** 94403-1906

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

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

**Location books Record: 5**

- **a. Name of person (e.g., a custodian of records):** Franklin Advisers, Inc.

- **b. Street 1:** One Franklin Parkway

- **c. City:** San Mateo

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

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

- **f. Zip code and zip code extension, or foreign postal code:** 94403-1906

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

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

**Location books Record: 6**

- **a. Name of person (e.g., a custodian of records):** FIS Investor Services, LLC /TA

- **b. Street 1:** 4249 Easton Way Suite 400

- **c. City:** Columbus

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

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

- **f. Zip code and zip code extension, or foreign postal code:** 43219

- **g. Telephone number:** 614-337-6605

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

**Location books Record: 7**

- **a. Name of person (e.g., a custodian of records):** JPMorgan Chase Bank, N.A.

- **b. Street 1:** 380 Madison Avenue

- **c. City:** New York

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

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

- **f. Zip code and zip code extension, or foreign postal code:** 10017

- **g. Telephone number:** 212-270-6000

- **h. Briefly describe the books and records kept at this location:** Records relating to its functions as Sub-Administrator and Fund Accounting Agent

- **Item B.4.a - Is this the first filing by the Registrant?:** No

- **Item B.4.b - Is this the last filing by the Registrant?:** No

- **Item B.5.a - Is the Registrant part of a family of investment companies?:** Yes

- **Item B.5.a.i - Full name of family of investment companies:** Franklin Templeton Group of Funds

### Item B.6 - Organization

- [x] a. Open-end management investment company registered under the Act on Form N-1A

- [ ] b. Closed-end management investment company registered under the Act on Form N-2

- [ ] c. Separate account offering variable annuity contracts which is registered under the Act as a management investment company on Form N-3

- [ ] d. Separate account offering variable annuity contracts which is registered under the Act as a unit investment trust on Form N-4

- [ ] e. Small business investment company registered under the Act on Form N-5

- [ ] f. Separate account offering variable insurance contracts which is registered under the Act as a unit investment trust on Form N-6

- [ ] g. Unit investment trust registered under the Act on Form N-8B-2

- **Item B.6.i - Total number of Series:** 10

- **Item B.7 - Is the Registrant the issuer of a class of securities registered under the Securities Act?:** Yes

### Item B.8 - Directors

| Name                   | Is Interested Person?   | Other Investment Company File Numbers                                                                                                                                                                                                                                                                                                                                                                                                       |
|:---|:---|:---|
| Valerie M. Williams    | No                      | 811-04356, 811-04149, 811-02790, 811-04787, 811-06481, 811-02605, 811-04267, 811-08034, 811-05583, 811-06243, 811-07288, 811-21357, 811-01608, 811-07851, 811-05569, 811-04986, 811-03479, 811-01700, 811-00537, 811-07038, 811-09869, 811-03395, 811-04894, 811-10157                                                                                                                                                                      |
| Harris J. Ashton       | No                      | 811-06481, 811-01608, 811-09869, 811-10157, 811-04787, 811-07851, 811-04706, 811-03395, 811-04986, 811-06243, 811-02790, 811-05583, 811-08394, 811-07288, 811-08226, 811-07876, 811-05569, 811-00537, 811-03479, 811-04267, 811-01700, 811-08034, 811-03143, 811-07038, 811-04985, 811-04149, 811-04356, 811-21357, 811-02605, 811-02781, 811-04894, 811-04892, 811-05459, 811-06378, 811-07866, 811-06135                                  |
| Edith E. Holiday       | No                      | 811-05583, 811-01608, 811-07876, 811-21357, 811-03143, 811-00537, 811-08034, 811-04892, 811-06243, 811-10157, 811-08226, 811-06135, 811-03479, 811-08394, 811-09869, 811-02781, 811-07288, 811-05459, 811-06481, 811-07038, 811-04706, 811-04894, 811-04986, 811-07866, 811-02790, 811-04356, 811-07851, 811-04149, 811-06378, 811-03395, 811-02605, 811-04985, 811-04267, 811-05569, 811-01700, 811-04787                                  |
| J. Michael Luttig      | No                      | 811-03143, 811-05583, 811-04267, 811-06135, 811-02790, 811-04356, 811-05569, 811-01608, 811-02605, 811-04892, 811-03479, 811-09869, 811-07038, 811-10157, 811-07288, 811-06243, 811-05459, 811-08034, 811-00537, 811-06378, 811-21357, 811-01700, 811-04986, 811-08394, 811-07851, 811-02781, 811-04706, 811-04985, 811-06481, 811-04894, 811-03395, 811-04149, 811-07866, 811-04787, 811-08226, 811-07876                                  |
| Larry D. Thompson      | No                      | 811-07288, 811-08226, 811-08394, 811-01608, 811-04787, 811-02781, 811-04149, 811-04892, 811-03143, 811-03395, 811-04986, 811-02790, 811-04985, 811-07866, 811-07851, 811-04267, 811-05583, 811-09869, 811-06135, 811-01700, 811-06243, 811-04894, 811-04356, 811-07038, 811-08034, 811-05459, 811-21357, 811-06481, 811-04706, 811-06378, 811-10157, 811-03479, 811-07876, 811-02605, 811-05569, 811-00537                                  |
| Terrence J. Checki     | No                      | 811-00537, 811-03479, 811-02605, 811-01700, 811-06481, 811-07288, 811-10157, 811-02790, 811-06243, 811-05583, 811-01608, 811-05569, 811-08034, 811-04787, 811-21357, 811-04267, 811-04986, 811-09869, 811-07851, 811-04356, 811-04894, 811-04149, 811-03395, 811-07038                                                                                                                                                                      |
| Gregory E. Johnson     | Yes                     | 811-06243, 811-04356, 811-02605, 811-04787, 811-03143, 811-00537, 811-05583, 811-08226, 811-06378, 811-04894, 811-08034, 811-04986, 811-05387, 811-07876, 811-07288, 811-06135, 811-04985, 811-01700, 811-09869, 811-05878, 811-07866, 811-02781, 811-07038, 811-10157, 811-07851, 811-03479, 811-01608, 811-21357, 811-05459, 811-22641, 811-08394, 811-04892, 811-02790, 811-04149, 811-04267, 811-03395, 811-06481, 811-04706, 811-05569 |
| Rupert H. Johnson, Jr. | Yes                     | 811-07038, 811-04787, 811-08394, 811-03143, 811-08034, 811-00537, 811-05583, 811-21357, 811-01700, 811-02605, 811-04267, 811-10157, 811-07876, 811-03479, 811-01608, 811-04986, 811-04149, 811-07866, 811-04706, 811-05459, 811-04356, 811-04892, 811-07288, 811-02790, 811-08226, 811-09869, 811-02781, 811-03395, 811-06135, 811-06243, 811-04894, 811-06481, 811-06378, 811-04985, 811-05569, 811-07851                                  |
| Mary C. Choksi         | No                      | 811-06243, 811-03479, 811-05583, 811-04356, 811-04267, 811-07288, 811-04986, 811-03143, 811-02781, 811-01608, 811-07876, 811-04149, 811-04706, 811-09869, 811-08394, 811-04894, 811-02790, 811-05569, 811-06135, 811-04892, 811-07866, 811-08226, 811-05459, 811-10157, 811-04787, 811-06378, 811-07038, 811-00537, 811-01700, 811-21357, 811-04985, 811-06481, 811-02605, 811-08034, 811-07851, 811-03395                                  |

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

**Chief compliance officer Record: 1**

- **a. Full Name:** Bjorn A. Davis

- **b. CRD Number, if any:** 004104631

- **c. Street Address 1:** 100 First Stamford Place

- **d. City:** Stamford

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

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

- **g. Zip code:** 06902

- **h. Telephone number:** XXXXXX

- **i. Has the chief compliance officer changed since the last filing?:** Yes

If the chief compliance officer is compensated or employed by any person other than the Registrant, provide:

**CCO employer Record: 1**

- **i. Name of the person:** —

- **ii. Person’s IRS Employer Identification Number:** —

### Item B.10. Matters for security holder vote.

- **Were any matters submitted by the Registrant for its security holders’ vote during the reporting period?** No

- **Item B.11.a - Have there been any material legal proceedings?:** No

- **Item B.11.b - Has any proceeding previously reported been terminated?:** No

- **Item B.12.a - Were any claims with respect to the Registrant filed under a fidelity bond?:** No

- **Item B.13.a - Are the Registrant's officers or directors covered under any insurance policy?:** Yes

- **Item B.13.a.i - If yes, were any claims filed under the policy during the reporting period?:** No

- **Item B.14 - Did an affiliated person provide any form of financial support to the Registrant?:** No

- **Item B.15.a.i - Release numbers:**
  - IC-32722
  - IC-15534
  - IC-33117

### Item B.16. Principal underwriters.

**Principal underwriter Record: 1**

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

- **ii. SEC file number:** 8-5889

- **iii. CRD number:** 000000332

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

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

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

- **vii. Is the principal underwriter an affiliated person...?:** Yes

- **b. Have any principal underwriters been hired or terminated during the reporting period?** No

### Item B.17. Independent public accountant.

**Public accountant Record: 1**

- **a. Full Name:** PRICEWATERHOUSECOOPERS LLP

- **b. PCAOB Number:** 238

- **c. LEI, if any:** 5493002GVO7EO8RNNS37

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

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

- **f. Has the independent public accountant changed since the last filing?** No

- **Item B.18 - Did an independent public accountant's report on internal control note any material weaknesses?:** No

- **Item B.19 - Did an independent public accountant issue an opinion other than an unqualified opinion?:** No

- **Item B.20 - Have there been material changes in the method of valuation?:** No

- **Item B.21 - Have there been any changes in accounting principles or practices?:** No

- **Item B.22.a - Were any payments made to shareholders as a result of an error in calculating NAV?:** No

## Part C: Additional Questions for Management Investment Companies

### Management Investment Record: 1 - Franklin Growth Opportunities Fund

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

- **a. Full Name of the Fund:** Franklin Growth Opportunities Fund

- **b. Series identification number, if any:** S000006878

- **c. LEI:** 549300B6FDJC678OK402

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 5

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Advisor Class           | C000018618                                | FRAAX                        |
|                           2 | Class C                 | C000018617                                | FKACX                        |
|                           3 | Class A                 | C000018615                                | FGRAX                        |
|                           4 | Class R                 | C000018619                                | FKARX                        |
|                           5 | Class R6                | C000128860                                | FOPPX                        |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [x] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** Goldman Sachs Bank USA

- **ii. LEI, if any:** KD3XUN7C6T14HNAYLU02

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Advisers, Inc.

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

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $19,277,108.31

- **g. Provide the net income from securities lending activities:** $1,165,653.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

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

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

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

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

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

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

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

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

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

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

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

**Investment Advisers Record: 1**

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

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

- **iii. CRD number:** 000104517

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

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

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

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

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

**Transfer Agents Record: 1**

- **i. Full name:** FIS Investor Services, LLC /TA

- **ii. SEC file number:** 084-06522

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

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

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

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

**Transfer Agents Record: 2**

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

- **ii. SEC file number:** 084-01036

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

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

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

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** No

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

**Pricing Services Record: 1**

- **i. Full name:** LSEG

- **ii. LEI, if any, or provide and describe other identifying number:** 2138007FV67QQ13CGJ43

- **Description of other identifying number:** LEI Number

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

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

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

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

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

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

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

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 2**

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

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

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

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

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Self - rule 17f-2 (17 CFR 270.17f-2)

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

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

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

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

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

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

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

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

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

**Administrators Record: 1**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

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

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

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

- **vi. Is the administrator a sub-administrator?:** Yes

**Administrators Record: 2**

- **i. Full name:** FRANKLIN TEMPLETON SERVICES, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

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

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

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** Franklin Templeton Financial Services Corp.

- **b. SEC file number:** 8-29504

- **c. CRD number:** 000013594

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

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

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

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

**Broker Dealers Record: 2**

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

- **b. SEC file number:** 8-43206

- **c. CRD number:** 000027884

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

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

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

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

**Broker Dealers Record: 3**

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

- **b. SEC file number:** 8-5889

- **c. CRD number:** 000000332

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

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

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

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

**Item C.16. Brokers.**

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

**Brokers Record: 1**

- **i. Full name of broker:** Sanford C. Bernstein & Co., LLC

- **ii. SEC file number:** 8-52942

- **iii. CRD number:** 000104474

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $48,620.99

**Brokers Record: 2**

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

- **ii. SEC file number:** 8-23669

- **iii. CRD number:** 000007897

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $34,166.54

**Brokers Record: 3**

- **i. Full name of broker:** Rosenblatt Securities Inc.

- **ii. SEC file number:** 8-24255

- **iii. CRD number:** 000018377

- **iv. LEI, if any:** 549300KXQP6H4QO07E91

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $83,193.79

**Brokers Record: 4**

- **i. Full name of broker:** LPS Capital LLC

- **ii. SEC file number:** 8-68706

- **iii. CRD number:** 000155246

- **iv. LEI, if any:** 549300H51TVW335I8478

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $87,653.00

**Brokers Record: 5**

- **i. Full name of broker:** Morgan Stanley & Co. LLC

- **ii. SEC file number:** 8-15869

- **iii. CRD number:** 000008209

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $42,326.21

**Brokers Record: 6**

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

- **ii. SEC file number:** 8-65473

- **iii. CRD number:** 000122225

- **iv. LEI, if any:** 549300GTG9PL6WO3EC51

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $26,526.56

**Brokers Record: 7**

- **i. Full name of broker:** ROBERT W. BAIRD & CO. INCORPORATED

- **ii. SEC file number:** 8-00497

- **iii. CRD number:** 000008158

- **iv. LEI, if any:** 549300772UJAHRD6LO53

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $22,052.40

**Brokers Record: 8**

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

- **ii. SEC file number:** 8-15074

- **iii. CRD number:** 000002347

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $44,491.65

**Brokers Record: 9**

- **i. Full name of broker:** Merrill Lynch, Pierce, Fenner & Smith Inc.

- **ii. SEC file number:** 8-07221

- **iii. CRD number:** 000007691

- **iv. LEI, if any:** 8NAV47T0Y26Q87Y0QP81

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $29,997.13

**Brokers Record: 10**

- **i. Full name of broker:** JonesTrading Institutional Services LLC

- **ii. SEC file number:** 8-26089

- **iii. CRD number:** 000006888

- **iv. LEI, if any:** 2138008JJ5PA8H5UIL69

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $39,087.58

**Aggregate Commission:** $652,790.25

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

| Name                                  | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| Fiduciary Trust Company International | N/A               | N/A          | N1YKEWO2IYPRS4742F57 | CA      | US        | $962,657.10               |
| Morgan Stanley & Co. LLC              | 8-15869           | 000008209    | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $5,475,000.00             |
| J.P. Morgan Securities LLC            | 8-35008           | 000000079    | ZBUT11V806EZRVTWT807 | NY      | US        | $1,776,415,869.41         |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $1,792,230,878.51

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

- **Item C.19.a - Fund's monthly average net assets:** $4,564,737,506.14

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,995,000,000.00

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

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

  - **Line Institutions Record: 2 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 3 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 4 Name of institution:** DEUTSCHE BANK SECURITIES INC.

  - **Line Institutions Record: 5 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 6 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 7 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 8 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 9 Name of institution:** MORGAN STANLEY SENIOR FUNDING, INC.

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

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                                                  | SEC File number   |
|:---|:---|
| Franklin LifeSmart 2060 Retirement Target Fund                                                | 811-07851         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund                                       | 811-04149         |
| Putnam Sustainable Leaders Fund                                                               | 811-06128         |
| Franklin Multi-Asset Growth Fund                                                              | 811-06444         |
| Western Asset High Yield Fund                                                                 | 811-06110         |
| Templeton Global Balanced Fund                                                                | 811-08226         |
| Putnam Large Cap Growth Fund (f/k/a Putnam Growth Opportunities Fund)                         | 811-07237         |
| Putnam Focused Large Cap Value ETF                                                            | 811-23643         |
| Putnam Small Cap Growth Fund                                                                  | 811-07513         |
| Franklin VolSmart Allocation VIP Fund                                                         | 811-05583         |
| Franklin Small-Mid Cap Growth Fund                                                            | 811-06243         |
| Western Asset New York Municipals Fund                                                        | 811-04254         |
| Franklin Conservative Allocation Fund                                                         | 811-07851         |
| Franklin Allocation VIP Fund (f/k/a Franklin Founding Funds Allocation VIP Fund)              | 811-05583         |
| Franklin California Tax-Free Income Fund                                                      | 811-02790         |
| Franklin Mutual U.S. Mid Cap Value Fund                                                       | 811-05878         |
| Franklin Core Plus Bond Fund                                                                  | 811-06243         |
| Western Asset Intermediate Maturity California Municipals Fund                                | 811-04254         |
| Templeton Global Total Return Fund                                                            | 811-04706         |
| Franklin Mutual Quest Fund                                                                    | 811-05387         |
| Franklin Mutual Beacon Fund                                                                   | 811-05387         |
| Franklin Templeton Moderate Model Portfolio                                                   | 811-21128         |
| Franklin Strategic Income VIP Fund                                                            | 811-05583         |
| Putnam Emerging Markets Equity Fund                                                           | 811-07513         |
| Franklin Mutual Small-Mid Cap Value Fund                                                      | 811-05878         |
| Franklin Income Fund                                                                          | 811-00537         |
| Franklin LifeSmart 2035 Retirement Target Fund                                                | 811-07851         |
| Franklin Arizona Tax-Free Income Fund                                                         | 811-04149         |
| Franklin Floating Rate Master Series                                                          | 811-09869         |
| Western Asset Intermediate Bond Fund                                                          | 811-06110         |
| Franklin Michigan Tax-Free Income Fund                                                        | 811-04149         |
| Putnam VT Income Fund                                                                         | 811-05346         |
| Franklin Mutual Global Discovery VIP Fund                                                     | 811-05583         |
| Western Asset Short Duration Municipal Income Fund                                            | 811-04254         |
| Franklin Templeton Moderately Aggressive Model Portfolio                                      | 811-21128         |
| Templeton World Fund                                                                          | 811-02781         |
| Putnam Mortgage Securities Fund                                                               | 811-03897         |
| Franklin Rising Dividends VIP Fund                                                            | 811-05583         |
| Putnam Tax-Free High Yield Fund                                                               | 811-04345         |
| Putnam Mortgage Opportunities Fund                                                            | 811-07513         |
| Western Asset Long Credit VIT                                                                 | 811-06310         |
| Franklin Low Duration Total Return Fund                                                       | 811-04986         |
| Franklin Gold and Precious Metals Fund                                                        | 811-01700         |
| Franklin Income VIP Fund                                                                      | 811-05583         |
| Western Asset Intermediate Maturity New York Municipals Fund                                  | 811-04254         |
| Western Asset Mortgage Total Return Fund                                                      | 811-04254         |
| Putnam Government Money Market Fund                                                           | 811-07237         |
| ClearBridge Growth Fund                                                                       | 811-06444         |
| Franklin Ohio Tax-Free Income Fund                                                            | 811-04149         |
| Putnam VT George Putnam Balanced Fund                                                         | 811-05346         |
| Putnam Global Health Care Fund                                                                | 811-03386         |
| Putnam Pennsylvania Tax Exempt Income Fund                                                    | 811-05802         |
| Franklin High Yield Corporate ETF                                                             | 811-23124         |
| Franklin Mutual Shares VIP Fund                                                               | 811-05583         |
| Western Asset Oregon Municipals Fund                                                          | 811-04254         |
| Templeton Foreign Fund                                                                        | 811-02781         |
| ClearBridge International Value Fund                                                          | 811-06444         |
| Franklin Small Cap Value Fund                                                                 | 811-05878         |
| Franklin Pennsylvania Tax-Free Income Fund                                                    | 811-04149         |
| Franklin Global Real Estate VIP Fund                                                          | 811-05583         |
| Franklin Georgia Tax-Free Income Fund                                                         | 811-04149         |
| Franklin S&P 500 Index Fund                                                                   | 811-06444         |
| Franklin Multi-Asset Moderate Growth Fund                                                     | 811-06444         |
| Putnam California Tax Exempt Income Fund                                                      | 811-03630         |
| Western Asset Variable Global High Yield Bond Portfolio                                       | 811-06310         |
| Franklin New York Intermediate-Term Tax-Free Income Fund                                      | 811-04787         |
| Franklin LifeSmart 2045 Retirement Target Fund                                                | 811-07851         |
| Putnam Dynamic Asset Allocation Balanced Fund                                                 | 811-07121         |
| Putnam International Equity Fund                                                              | 811-06190         |
| Western Asset California Municipals Fund                                                      | 811-04254         |
| Franklin U.S. Government Securities VIP Fund                                                  | 811-05583         |
| Putnam Minnesota Tax Exempt Income Fund                                                       | 811-04527         |
| ClearBridge Small Cap Growth Fund                                                             | 811-06444         |
| BrandywineGLOBAL - Alternative Credit Fund                                                    | 811-22338         |
| Western Asset Corporate Bond Fund                                                             | 811-04254         |
| Franklin Small Cap Growth Fund                                                                | 811-06243         |
| Putnam VT International Value Fund                                                            | 811-05346         |
| ClearBridge Select Fund                                                                       | 811-06444         |
| Franklin Templeton Aggressive Model Portfolio                                                 | 811-21128         |
| Putnam Sustainable Future ETF                                                                 | 811-23643         |
| Putnam Short-Term Municipal Income Fund                                                       | 811-07513         |
| Western Asset SMASh Series C Fund                                                             | 811-06740         |
| ClearBridge Variable Dividend Strategy Portfolio                                              | 811-21128         |
| Putnam Emerging Markets Ex-China ETF                                                          | 811-23643         |
| Putnam Small Cap Value Fund                                                                   | 811-07237         |
| Putnam ESG Ultra Short ETF                                                                    | 811-23643         |
| Putnam VT High Yield Fund                                                                     | 811-05346         |
| Putnam Large Cap Value Fund                                                                   | 811-02742         |
| ClearBridge Global Infrastructure Income Fund                                                 | 811-22338         |
| Western Asset SMASh Series TF Fund                                                            | 811-06740         |
| Western Asset SMASh Series Core Completion Fund                                               | 811-06740         |
| Western Asset SMASh Series M Fund                                                             | 811-06740         |
| Templeton Sustainable Emerging Markets Bond Fund                                              | 811-04706         |
| Templeton Global Bond Fund                                                                    | 811-04706         |
| Western Asset Short Duration High Income Fund                                                 | 811-04254         |
| Franklin International Equity Fund (fka QS International Equity Fund)                         | 811-22338         |
| Putnam Dynamic Asset Allocation Growth Fund                                                   | 811-07121         |
| Western Asset Massachusetts Municipals Fund                                                   | 811-04254         |
| Putnam Core Bond Fund (f/k/a Putnam Fixed Income Absolute Return Fund)                        | 811-07513         |
| Templeton Foreign VIP Fund                                                                    | 811-05583         |
| Franklin Templeton SMACS:  Series EM                                                          | 811-08226         |
| Putnam VT Sustainable Future Fund                                                             | 811-05346         |
| Putnam VT Small Cap Growth Fund                                                               | 811-05346         |
| Putnam VT International Equity Fund                                                           | 811-05346         |
| Franklin Federal Tax-Free Income Fund                                                         | 811-03395         |
| ClearBridge Mid Cap Fund                                                                      | 811-06444         |
| Putnam Floating Rate Income Fund                                                              | 811-07513         |
| Franklin Templeton SMACS:  Series I                                                           | 811-06243         |
| Franklin Louisiana Tax-Free Income Fund                                                       | 811-04149         |
| Putnam VT Large Cap Value Fund                                                                | 811-05346         |
| Western Asset Managed Municipals Fund                                                         | 811-04254         |
| Templeton International Bond Fund                                                             | 811-04706         |
| Putnam VT Global Health Care Fund                                                             | 811-05346         |
| Putnam ESG Core Bond ETF                                                                      | 811-23643         |
| BrandywineGLOBAL - Flexible Bond Fund                                                         | 811-22338         |
| Putnam Money Market Fund                                                                      | 811-02608         |
| Franklin Mutual Shares Fund                                                                   | 811-05387         |
| Franklin Templeton SMACS:  Series E                                                           | 811-06243         |
| Franklin Growth Fund                                                                          | 811-00537         |
| Putnam Multi-Asset Income Fund                                                                | 811-07121         |
| Templeton Developing Markets VIP Fund                                                         | 811-05583         |
| Franklin High Yield Tax-Free Income Fund                                                      | 811-04149         |
| Franklin North Carolina Tax-Free Income Fund                                                  | 811-04149         |
| ClearBridge Variable Growth Portfolio                                                         | 811-21128         |
| Templeton Developing Markets Trust                                                            | 811-06378         |
| Putnam Sustainable Leaders ETF                                                                | 811-23643         |
| Franklin Missouri Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Utilities Fund                                                                       | 811-00537         |
| Western Asset Municipal High Income Fund                                                      | 811-04254         |
| Putnam VT Large Cap Growth Fund (f/k/a Putnam VT Growth Opportunities Fund)                   | 811-05346         |
| Franklin Multi-Asset Variable Moderate Growth Fund                                            | 811-21128         |
| Putnam International Capital Opportunities Fund                                               | 811-07237         |
| Franklin Low Duration U.S. Government Securities Fund                                         | 811-04986         |
| Western Asset Core Plus Bond Fund                                                             | 811-06110         |
| Western Asset Intermediate-Term Municipals Fund                                               | 811-04254         |
| Franklin Colorado Tax-Free Income Fund                                                        | 811-04149         |
| Putnam Ultra Short MAC Series                                                                 | 811-07513         |
| Putnam VT Global Asset Allocation Fund                                                        | 811-05346         |
| Putnam High Yield Fund                                                                        | 811-04616         |
| Martin Currie SMASh Series EM Fund                                                            | 811-22338         |
| Franklin New Jersey Tax-Free Income Fund                                                      | 811-04149         |
| Franklin Templeton Moderately Conservative Model Portfolio                                    | 811-21128         |
| Putnam New Jersey Tax Exempt Income Fund                                                      | 811-05977         |
| ClearBridge Large Cap Value Fund                                                              | 811-06444         |
| Franklin Total Return Fund                                                                    | 811-04986         |
| Putnam Sustainable Future Fund                                                                | 811-07237         |
| Western Asset Ultra-Short Income Fund                                                         | 811-04254         |
| Western Asset SMASh Series Core Plus Completion                                               | 811-06740         |
| Western Asset Short Duration Income ETF                                                       | 811-23096         |
| Putnam Ultra Short Duration Income Fund                                                       | 811-07513         |
| ClearBridge Appreciation Fund                                                                 | 811-06444         |
| Western Asset Core Bond Fund                                                                  | 811-06110         |
| Franklin Multi-Asset Defensive Growth Fund                                                    | 811-06444         |
| ClearBridge Small Cap Fund                                                                    | 811-22338         |
| Franklin Senior Loan ETF                                                                      | 811-23124         |
| BrandywineGLOBAL - Corporate Credit Fund                                                      | 811-06444         |
| Franklin Connecticut Tax-Free Income Fund                                                     | 811-04149         |
| Franklin Growth Allocation Fund                                                               | 811-07851         |
| Putnam VT Focused International Equity Fund                                                   | 811-05346         |
| Putnam PanAgora ESG Emerging Markets Equity ETF                                               | 811-23643         |
| ClearBridge Variable Mid Cap Portfolio                                                        | 811-21128         |
| Franklin Templeton Conservative Model Portfolio                                               | 811-21128         |
| Franklin Massachusetts Tax-Free Income Fund                                                   | 811-04149         |
| Franklin DynaTech Fund                                                                        | 811-00537         |
| Putnam VT Emerging Markets Equity Fund                                                        | 811-05346         |
| Western Asset New Jersey Municipals Fund                                                      | 811-04254         |
| Putnam Strategic Intermediate Municipal Fund                                                  | 811-04345         |
| Franklin Natural Resources Fund                                                               | 811-06243         |
| ClearBridge Tactical Dividend Income Fund                                                     | 811-06444         |
| ClearBridge Variable Small Cap Growth Portfolio                                               | 811-21128         |
| Franklin U.S. Government Securities Fund                                                      | 811-00537         |
| Franklin Growth and Income VIP Fund                                                           | 811-05583         |
| Putnam Dynamic Asset Allocation Conservative Fund                                             | 811-07121         |
| Putnam VT Research Fund                                                                       | 811-05346         |
| K2 Alternative Strategies Fund                                                                | 811-22641         |
| Putnam BDC Income ETF                                                                         | 811-23643         |
| Putnam VT Sustainable Leaders Fund                                                            | 811-05346         |
| Putnam Focused Equity Fund                                                                    | 811-07513         |
| Templeton Growth Fund, Inc.                                                                   | 811-04892         |
| Putnam Income Fund                                                                            | 811-00653         |
| Putnam BioRevolution ETF                                                                      | 811-23643         |
| Franklin LifeSmart 2020 Retirement Target Fund                                                | 811-07851         |
| Western Asset Short-Term Bond Fund                                                            | 811-04254         |
| ClearBridge Large Cap Growth Fund                                                             | 811-06444         |
| ClearBridge Variable Large Cap Growth Portfolio                                               | 811-21128         |
| Putnam Dynamic Asset Allocation Equity Fund                                                   | 811-07513         |
| Franklin Strategic Mortgage Portfolio                                                         | 811-07288         |
| Putnam Focused Large Cap Growth ETF                                                           | 811-23643         |
| Franklin Small Cap Value VIP Fund                                                             | 811-05583         |
| Western Asset Total Return Unconstrained Fund                                                 | 811-06110         |
| Franklin Emerging Market Debt Opportunities Fund                                              | 811-10157         |
| Franklin Moderate Allocation Fund                                                             | 811-07851         |
| Franklin Maryland Tax-Free Income Fund                                                        | 811-04149         |
| Western Asset Total Return ETF                                                                | 811-23096         |
| Franklin Alabama Tax-Free Income Fund                                                         | 811-04149         |
| Franklin Mutual Global Discovery Fund                                                         | 811-05387         |
| ClearBridge Mid Cap Growth Fund                                                               | 811-06444         |
| Franklin LifeSmart Retirement Income Fund                                                     | 811-07851         |
| BrandywineGLOBAL - Global Opportuniites Bond Fund                                             | 811-22338         |
| International Equity Series                                                                   | 811-06135         |
| Franklin LifeSmart 2030 Retirement Target Fund                                                | 811-07851         |
| Franklin Templeton SMACS:  Series H                                                           | 811-06243         |
| ClearBridge Variable Appreciation Portfolio                                                   | 811-21128         |
| Franklin High Income Fund                                                                     | 811-01608         |
| Franklin Biotechnology Discovery Fund                                                         | 811-06243         |
| Franklin Multi-Asset Conservative Growth Fund                                                 | 811-06444         |
| Putnam VT Small Cap Value Fund                                                                | 811-05346         |
| ClearBridge Value Fund                                                                        | 811-22338         |
| Putnam Focused International Equity Fund                                                      | 811-01403         |
| ClearBridge Sustainability Leaders Fund                                                       | 811-06444         |
| Putnam Short Duration Bond Fund                                                               | 811-07513         |
| Franklin DynaTech VIP Fund                                                                    | 811-05583         |
| Templeton Growth VIP Fund                                                                     | 811-05583         |
| Franklin Templeton SMACS:  Series CH                                                          | 811-06243         |
| Franklin New York Tax-Free Income Fund                                                        | 811-03479         |
| Putnam Intermediate-Term Municipal Income Fund                                                | 811-07513         |
| Putnam Core Equity Fund (f/k/a Putnam Multi-Cap Core Fund)                                    | 811-07513         |
| Putnam International Value Fund                                                               | 811-07513         |
| Templeton Global Bond VIP Fund                                                                | 811-05583         |
| Putnam PanAgora ESG International Equity ETF                                                  | 811-23643         |
| Putnam VT Core Equity Fund (f/k/a Putnam VT Multi-Cap Core Fund)                              | 811-05346         |
| Franklin LifeSmart 2040 Retirement Target Fund                                                | 811-07851         |
| Templeton Global Smaller Companies Fund                                                       | 811-03143         |
| Putnam Massachusetts Tax Exempt Income Fund                                                   | 811-04518         |
| Franklin Multi-Asset Variable Growth Fund                                                     | 811-21128         |
| Putnam Diversified Income Trust                                                               | 811-05635         |
| BrandywineGLOBAL - High Yield Fund                                                            | 811-06444         |
| Franklin Convertible Securities Fund                                                          | 811-04986         |
| Putnam Global Technology Fund                                                                 | 811-07513         |
| Franklin California High Yield Municipal Fund                                                 | 811-06481         |
| Franklin LifeSmart 2050 Retirement Target Fund                                                | 811-07851         |
| Franklin Minnesota Tax-Free Income Fund                                                       | 811-04149         |
| Franklin Small-Mid Cap Growth VIP Fund                                                        | 811-05583         |
| Franklin Large Cap Growth VIP Fund                                                            | 811-05583         |
| Foreign Smaller Companies Series                                                              | 811-06135         |
| Franklin LifeSmart 2025 Retirement Target Fund                                                | 811-07851         |
| Franklin Rising Dividends Fund                                                                | 811-04894         |
| George Putnam Balanced Fund                                                                   | 811-00058         |
| Franklin Equity Income Fund                                                                   | 811-04986         |
| Franklin Oregon Tax-Free Income Fund                                                          | 811-04149         |
| Putnam Research Fund                                                                          | 811-07237         |
| Franklin California Intermediate-Term Tax-Free Income Fund                                    | 811-04356         |
| Western Asset Bond ETF                                                                        | 811-23124         |
| Putnam VT Government Money Market Fund                                                        | 811-05346         |
| Franklin Federal Limited-Term Tax-Free Income Fund                                            | 811-04149         |
| Western Asset Income Fund                                                                     | 811-04254         |
| Putnam VT Diversified Income Fund                                                             | 811-05346         |
| Franklin Mutual International Value Fund                                                      | 811-05387         |
| Franklin U.S. Large Cap Equity Fund                                                           | 811-06444         |
| Franklin International Growth Fund                                                            | 811-10157         |
| Franklin LifeSmart 2055 Retirement Target Fund                                                | 811-07851         |
| Franklin Global Allocation Fund                                                               | 811-07851         |
| Western Asset Inflation Indexed Plus Bond Fund                                                | 811-06110         |
| Putnam New York Tax Exempt Income Fund                                                        | 811-03741         |
| Franklin Global Equity Fund                                                                   | 811-06444         |
| Putnam VT Mortgage Securities Fund                                                            | 811-05346         |
| ClearBridge Variable Large Cap Value Portfolio                                                | 811-21128         |
| Putnam Convertible Securities Fund                                                            | 811-02280         |
| Franklin U.S. Small Capitalization Equity Fund (fka QS U.S. Small Capitalization Equity Fund) | 811-22338         |
| Templeton Emerging Markets Small Cap Fund                                                     | 811-08226         |
| Franklin Managed Income Fund                                                                  | 811-04986         |
| Putnam Ohio Tax Exempt Income Fund                                                            | 811-04528         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund                                             | 811-22338         |
| Putnam Tax Exempt Income Fund                                                                 | 811-02675         |
| Franklin Long Duration Credit Fund                                                            | 811-04986         |
| Putnam Global Income Trust                                                                    | 811-04524         |
| Putnam ESG High Yield ETF                                                                     | 811-23643         |
| ClearBridge Dividend Strategy Fund                                                            | 811-06444         |
| Franklin Corefolio Allocation Fund                                                            | 811-07851         |
| Franklin Virginia Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Floating Rate Daily Access Fund                                                      | 811-04986         |
| Franklin Multi-Asset Variable Conservative Growth Fund                                        | 811-21128         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund                                        | 811-22338         |
| Western Asset Core Plus VIT Portfolio                                                         | 811-06310         |
| Western Asset Pennsylvania Municipals Fund                                                    | 811-04254         |
| Martin Currie Emerging Markets Fund                                                           | 811-22338         |
| ClearBridge International Growth Fund                                                         | 811-22338         |
| Franklin Real Estate Securities Fund                                                          | 811-08034         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 2 - Franklin Small Mid Cap Growth Fund

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

- **a. Full Name of the Fund:** Franklin Small Mid Cap Growth Fund

- **b. Series identification number, if any:** S000006888

- **c. LEI:** 549300XZX5ZXXK3WKM42

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 5

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Advisor Class           | C000018653                                | FSGAX                        |
|                           2 | Class C                 | C000018652                                | FRSIX                        |
|                           3 | Class R                 | C000018654                                | FSMRX                        |
|                           4 | Class R6                | C000128864                                | FMGGX                        |
|                           5 | Class A                 | C000018650                                | FRSGX                        |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [x] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** Goldman Sachs Bank USA

- **ii. LEI, if any:** KD3XUN7C6T14HNAYLU02

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Advisers, Inc.

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

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $6,063,894.92

- **g. Provide the net income from securities lending activities:** $26,083.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

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

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

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

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

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

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

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

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

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

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

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

**Investment Advisers Record: 1**

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

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

- **iii. CRD number:** 000104517

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

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

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

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

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

**Transfer Agents Record: 1**

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

- **ii. SEC file number:** 084-01036

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

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

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

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

**Transfer Agents Record: 2**

- **i. Full name:** FIS Investor Services, LLC /TA

- **ii. SEC file number:** 084-06522

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

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

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

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

- **b. Has a transfer agent been hired or terminated during the reporting period?** No

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

**Pricing Services Record: 1**

- **i. Full name:** LSEG

- **ii. LEI, if any, or provide and describe other identifying number:** 2138007FV67QQ13CGJ43

- **Description of other identifying number:** LEI Number

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

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

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

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

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

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

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

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

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Self - rule 17f-2 (17 CFR 270.17f-2)

**Custodians Record: 2**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

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

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

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

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

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

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

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

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

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

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

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

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

**Administrators Record: 1**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

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

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

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

- **vi. Is the administrator a sub-administrator?:** Yes

**Administrators Record: 2**

- **i. Full name:** FRANKLIN TEMPLETON SERVICES, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

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

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

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

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

- **b. SEC file number:** 8-43206

- **c. CRD number:** 000027884

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

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

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

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

**Broker Dealers Record: 2**

- **a. Full name:** Franklin Templeton Financial Services Corp.

- **b. SEC file number:** 8-29504

- **c. CRD number:** 000013594

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

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

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

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

**Broker Dealers Record: 3**

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

- **b. SEC file number:** 8-5889

- **c. CRD number:** 000000332

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

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

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

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

**Item C.16. Brokers.**

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

**Brokers Record: 1**

- **i. Full name of broker:** RBC Capital Markets, LLC

- **ii. SEC file number:** 8-45411

- **iii. CRD number:** 000031194

- **iv. LEI, if any:** 549300LCO2FLSSVFFR64

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $44,242.02

**Brokers Record: 2**

- **i. Full name of broker:** Rosenblatt Securities Inc.

- **ii. SEC file number:** 8-24255

- **iii. CRD number:** 000018377

- **iv. LEI, if any:** 549300KXQP6H4QO07E91

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $62,419.52

**Brokers Record: 3**

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

- **ii. SEC file number:** 8-22651

- **iii. CRD number:** 000007654

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $39,473.69

**Brokers Record: 4**

- **i. Full name of broker:** Sanford C. Bernstein & Co., LLC

- **ii. SEC file number:** 8-52942

- **iii. CRD number:** 000104474

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $42,970.66

**Brokers Record: 5**

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

- **ii. SEC file number:** 8-15074

- **iii. CRD number:** 000002347

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $50,575.46

**Brokers Record: 6**

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

- **ii. SEC file number:** 8-10999

- **iii. CRD number:** 000000705

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $38,983.27

**Brokers Record: 7**

- **i. Full name of broker:** State Street Global Markets, LLC

- **ii. SEC file number:** 8-69862

- **iii. CRD number:** 000285852

- **iv. LEI, if any:** 549300FDEDF5ORXCMQ56

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $83,801.28

**Brokers Record: 8**

- **i. Full name of broker:** Cowen and Company

- **ii. SEC file number:** 8-22522

- **iii. CRD number:** 000007616

- **iv. LEI, if any:** 549300WR155U7DVMIW58

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $34,242.49

**Brokers Record: 9**

- **i. Full name of broker:** Stifel, Nicolaus & Company, Incorporated

- **ii. SEC file number:** 8-01447

- **iii. CRD number:** 000000793

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $35,488.25

**Brokers Record: 10**

- **i. Full name of broker:** Citigroup Global Markets Inc.

- **ii. SEC file number:** 8-08177

- **iii. CRD number:** 000007059

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $44,757.02

**Aggregate Commission:** $807,114.04

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

| Name                                  | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| Fiduciary Trust Company International | N/A               | N/A          | N1YKEWO2IYPRS4742F57 | CA      | US        | $3,673,203.08             |
| Morgan Stanley & Co. LLC              | 8-15869           | 000008209    | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $5,380,000.00             |
| Citigroup Global Markets Inc.         | 8-08177           | 000007059    | MBNUM2BPBDO7JBLYG310 | NY      | US        | $897,600.00               |
| Goldman Sachs & Co. LLC               | 8-00129           | 000000361    | FOR8UP27PHTHYVLBNG30 | NY      | US        | $2,208,100.00             |
| J.P. Morgan Securities LLC            | 8-35008           | 000000079    | ZBUT11V806EZRVTWT807 | NY      | US        | $1,359,559,678.05         |
| Direct Investment India               | N/A               | N/A          | N/A                  |  |  | $9,009,451.98             |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $1,380,728,033.11

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

- **Item C.19.a - Fund's monthly average net assets:** $3,933,362,851.34

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,995,000,000.00

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

  - **Line Institutions Record: 1 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 2 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 3 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 4 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 5 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 6 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 7 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 8 Name of institution:** MORGAN STANLEY SENIOR FUNDING, INC.

  - **Line Institutions Record: 9 Name of institution:** DEUTSCHE BANK SECURITIES INC.

  - **Line Institutions Record: 10 Name of institution:** STATE STREET BANK AND TRUST COMPANY

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                                                  | SEC File number   |
|:---|:---|
| ClearBridge Variable Large Cap Value Portfolio                                                | 811-21128         |
| Putnam Pennsylvania Tax Exempt Income Fund                                                    | 811-05802         |
| Franklin New York Tax-Free Income Fund                                                        | 811-03479         |
| Franklin Templeton Conservative Model Portfolio                                               | 811-21128         |
| Franklin Small Cap Value Fund                                                                 | 811-05878         |
| Putnam PanAgora ESG International Equity ETF                                                  | 811-23643         |
| Western Asset New Jersey Municipals Fund                                                      | 811-04254         |
| Putnam VT International Equity Fund                                                           | 811-05346         |
| Franklin Mutual Beacon Fund                                                                   | 811-05387         |
| BrandywineGLOBAL - Alternative Credit Fund                                                    | 811-22338         |
| Western Asset Intermediate-Term Municipals Fund                                               | 811-04254         |
| Franklin Convertible Securities Fund                                                          | 811-04986         |
| Templeton Foreign Fund                                                                        | 811-02781         |
| Putnam VT Large Cap Growth Fund (f/k/a Putnam VT Growth Opportunities Fund)                   | 811-05346         |
| Western Asset Total Return ETF                                                                | 811-23096         |
| Western Asset Short-Term Bond Fund                                                            | 811-04254         |
| Franklin Income VIP Fund                                                                      | 811-05583         |
| Putnam VT Mortgage Securities Fund                                                            | 811-05346         |
| Franklin LifeSmart 2025 Retirement Target Fund                                                | 811-07851         |
| Franklin New York Intermediate-Term Tax-Free Income Fund                                      | 811-04787         |
| ClearBridge Variable Mid Cap Portfolio                                                        | 811-21128         |
| Franklin Income Fund                                                                          | 811-00537         |
| Franklin Multi-Asset Variable Growth Fund                                                     | 811-21128         |
| Western Asset Short Duration Income ETF                                                       | 811-23096         |
| Franklin Long Duration Credit Fund                                                            | 811-04986         |
| Franklin DynaTech VIP Fund                                                                    | 811-05583         |
| Franklin Templeton SMACS:  Series I                                                           | 811-06243         |
| Franklin High Yield Corporate ETF                                                             | 811-23124         |
| Western Asset Oregon Municipals Fund                                                          | 811-04254         |
| Putnam Mortgage Opportunities Fund                                                            | 811-07513         |
| Franklin Managed Income Fund                                                                  | 811-04986         |
| Western Asset Short Duration High Income Fund                                                 | 811-04254         |
| Franklin Mutual Small-Mid Cap Value Fund                                                      | 811-05878         |
| Putnam Sustainable Future ETF                                                                 | 811-23643         |
| Franklin California High Yield Municipal Fund                                                 | 811-06481         |
| Franklin Small-Mid Cap Growth VIP Fund                                                        | 811-05583         |
| ClearBridge Variable Small Cap Growth Portfolio                                               | 811-21128         |
| Western Asset Intermediate Bond Fund                                                          | 811-06110         |
| Franklin U.S. Government Securities Fund                                                      | 811-00537         |
| Franklin Ohio Tax-Free Income Fund                                                            | 811-04149         |
| Franklin Floating Rate Master Series                                                          | 811-09869         |
| Putnam Floating Rate Income Fund                                                              | 811-07513         |
| ClearBridge Mid Cap Fund                                                                      | 811-06444         |
| Franklin Small Cap Growth Fund                                                                | 811-06243         |
| Putnam Short-Term Municipal Income Fund                                                       | 811-07513         |
| Putnam Core Equity Fund (f/k/a Putnam Multi-Cap Core Fund)                                    | 811-07513         |
| Putnam VT Core Equity Fund (f/k/a Putnam VT Multi-Cap Core Fund)                              | 811-05346         |
| Franklin VolSmart Allocation VIP Fund                                                         | 811-05583         |
| ClearBridge Dividend Strategy Fund                                                            | 811-06444         |
| Franklin Mutual Global Discovery VIP Fund                                                     | 811-05583         |
| Western Asset Mortgage Total Return Fund                                                      | 811-04254         |
| ClearBridge Growth Fund                                                                       | 811-06444         |
| Putnam VT Global Asset Allocation Fund                                                        | 811-05346         |
| Western Asset Massachusetts Municipals Fund                                                   | 811-04254         |
| ClearBridge Small Cap Growth Fund                                                             | 811-06444         |
| Putnam International Equity Fund                                                              | 811-06190         |
| Western Asset SMASh Series Core Plus Completion                                               | 811-06740         |
| Putnam Strategic Intermediate Municipal Fund                                                  | 811-04345         |
| Putnam ESG Ultra Short ETF                                                                    | 811-23643         |
| Franklin Total Return Fund                                                                    | 811-04986         |
| Putnam VT Government Money Market Fund                                                        | 811-05346         |
| Templeton World Fund                                                                          | 811-02781         |
| ClearBridge Variable Large Cap Growth Portfolio                                               | 811-21128         |
| Franklin Massachusetts Tax-Free Income Fund                                                   | 811-04149         |
| Putnam Convertible Securities Fund                                                            | 811-02280         |
| Putnam Emerging Markets Equity Fund                                                           | 811-07513         |
| Putnam Income Fund                                                                            | 811-00653         |
| Templeton Emerging Markets Small Cap Fund                                                     | 811-08226         |
| Putnam VT Sustainable Leaders Fund                                                            | 811-05346         |
| Franklin Rising Dividends Fund                                                                | 811-04894         |
| Franklin New Jersey Tax-Free Income Fund                                                      | 811-04149         |
| Franklin Global Allocation Fund                                                               | 811-07851         |
| Putnam Research Fund                                                                          | 811-07237         |
| Putnam VT Emerging Markets Equity Fund                                                        | 811-05346         |
| Franklin International Growth Fund                                                            | 811-10157         |
| Franklin Pennsylvania Tax-Free Income Fund                                                    | 811-04149         |
| Putnam Focused International Equity Fund                                                      | 811-01403         |
| Western Asset Intermediate Maturity California Municipals Fund                                | 811-04254         |
| Western Asset High Yield Fund                                                                 | 811-06110         |
| Franklin Real Estate Securities Fund                                                          | 811-08034         |
| Putnam Small Cap Value Fund                                                                   | 811-07237         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund                                        | 811-22338         |
| K2 Alternative Strategies Fund                                                                | 811-22641         |
| Franklin California Intermediate-Term Tax-Free Income Fund                                    | 811-04356         |
| Franklin Oregon Tax-Free Income Fund                                                          | 811-04149         |
| Foreign Smaller Companies Series                                                              | 811-06135         |
| Putnam Massachusetts Tax Exempt Income Fund                                                   | 811-04518         |
| ClearBridge Appreciation Fund                                                                 | 811-06444         |
| Franklin Multi-Asset Conservative Growth Fund                                                 | 811-06444         |
| Western Asset Core Plus Bond Fund                                                             | 811-06110         |
| Martin Currie SMASh Series EM Fund                                                            | 811-22338         |
| Franklin Low Duration U.S. Government Securities Fund                                         | 811-04986         |
| Putnam VT Focused International Equity Fund                                                   | 811-05346         |
| Franklin Corefolio Allocation Fund                                                            | 811-07851         |
| Putnam Diversified Income Trust                                                               | 811-05635         |
| Franklin Arizona Tax-Free Income Fund                                                         | 811-04149         |
| Templeton Foreign VIP Fund                                                                    | 811-05583         |
| Western Asset SMASh Series TF Fund                                                            | 811-06740         |
| Franklin High Yield Tax-Free Income Fund                                                      | 811-04149         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund                                             | 811-22338         |
| ClearBridge Large Cap Growth Fund                                                             | 811-06444         |
| Franklin Strategic Income VIP Fund                                                            | 811-05583         |
| Western Asset Bond ETF                                                                        | 811-23124         |
| Franklin U.S. Government Securities VIP Fund                                                  | 811-05583         |
| Franklin Growth and Income VIP Fund                                                           | 811-05583         |
| Franklin LifeSmart 2045 Retirement Target Fund                                                | 811-07851         |
| Putnam Ultra Short MAC Series                                                                 | 811-07513         |
| Putnam Ohio Tax Exempt Income Fund                                                            | 811-04528         |
| Franklin Biotechnology Discovery Fund                                                         | 811-06243         |
| Putnam VT Research Fund                                                                       | 811-05346         |
| Franklin Mutual Global Discovery Fund                                                         | 811-05387         |
| BrandywineGLOBAL - Flexible Bond Fund                                                         | 811-22338         |
| Putnam Short Duration Bond Fund                                                               | 811-07513         |
| Putnam Dynamic Asset Allocation Equity Fund                                                   | 811-07513         |
| Franklin Mutual Shares VIP Fund                                                               | 811-05583         |
| Putnam California Tax Exempt Income Fund                                                      | 811-03630         |
| Franklin Low Duration Total Return Fund                                                       | 811-04986         |
| Putnam Sustainable Leaders Fund                                                               | 811-06128         |
| ClearBridge Select Fund                                                                       | 811-06444         |
| Putnam ESG High Yield ETF                                                                     | 811-23643         |
| Franklin Multi-Asset Moderate Growth Fund                                                     | 811-06444         |
| Franklin Multi-Asset Defensive Growth Fund                                                    | 811-06444         |
| Franklin Small Cap Value VIP Fund                                                             | 811-05583         |
| Franklin Floating Rate Daily Access Fund                                                      | 811-04986         |
| Franklin Templeton SMACS:  Series EM                                                          | 811-08226         |
| Putnam Focused Large Cap Value ETF                                                            | 811-23643         |
| Franklin Multi-Asset Growth Fund                                                              | 811-06444         |
| Franklin Natural Resources Fund                                                               | 811-06243         |
| Franklin Senior Loan ETF                                                                      | 811-23124         |
| Western Asset Variable Global High Yield Bond Portfolio                                       | 811-06310         |
| Franklin LifeSmart 2060 Retirement Target Fund                                                | 811-07851         |
| Franklin Moderate Allocation Fund                                                             | 811-07851         |
| Putnam Intermediate-Term Municipal Income Fund                                                | 811-07513         |
| Putnam VT Large Cap Value Fund                                                                | 811-05346         |
| Franklin Conservative Allocation Fund                                                         | 811-07851         |
| Western Asset SMASh Series Core Completion Fund                                               | 811-06740         |
| ClearBridge Global Infrastructure Income Fund                                                 | 811-22338         |
| Western Asset California Municipals Fund                                                      | 811-04254         |
| Franklin Maryland Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Global Real Estate VIP Fund                                                          | 811-05583         |
| Putnam High Yield Fund                                                                        | 811-04616         |
| Putnam Focused Equity Fund                                                                    | 811-07513         |
| Putnam VT Global Health Care Fund                                                             | 811-05346         |
| Western Asset Managed Municipals Fund                                                         | 811-04254         |
| Franklin Multi-Asset Variable Conservative Growth Fund                                        | 811-21128         |
| Franklin Mutual International Value Fund                                                      | 811-05387         |
| BrandywineGLOBAL - Corporate Credit Fund                                                      | 811-06444         |
| Franklin Michigan Tax-Free Income Fund                                                        | 811-04149         |
| Putnam BioRevolution ETF                                                                      | 811-23643         |
| Templeton International Bond Fund                                                             | 811-04706         |
| ClearBridge Value Fund                                                                        | 811-22338         |
| Putnam International Value Fund                                                               | 811-07513         |
| Putnam VT Sustainable Future Fund                                                             | 811-05346         |
| Franklin Virginia Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Federal Tax-Free Income Fund                                                         | 811-03395         |
| Putnam Dynamic Asset Allocation Growth Fund                                                   | 811-07121         |
| Putnam PanAgora ESG Emerging Markets Equity ETF                                               | 811-23643         |
| Franklin Strategic Mortgage Portfolio                                                         | 811-07288         |
| Templeton Growth Fund, Inc.                                                                   | 811-04892         |
| Templeton Global Total Return Fund                                                            | 811-04706         |
| Franklin Utilities Fund                                                                       | 811-00537         |
| Franklin LifeSmart 2050 Retirement Target Fund                                                | 811-07851         |
| Western Asset Intermediate Maturity New York Municipals Fund                                  | 811-04254         |
| Western Asset New York Municipals Fund                                                        | 811-04254         |
| Franklin Templeton Moderately Aggressive Model Portfolio                                      | 811-21128         |
| Franklin Georgia Tax-Free Income Fund                                                         | 811-04149         |
| Putnam Large Cap Growth Fund (f/k/a Putnam Growth Opportunities Fund)                         | 811-07237         |
| Franklin Core Plus Bond Fund                                                                  | 811-06243         |
| Franklin Multi-Asset Variable Moderate Growth Fund                                            | 811-21128         |
| Putnam New York Tax Exempt Income Fund                                                        | 811-03741         |
| George Putnam Balanced Fund                                                                   | 811-00058         |
| Templeton Global Bond Fund                                                                    | 811-04706         |
| Franklin U.S. Small Capitalization Equity Fund (fka QS U.S. Small Capitalization Equity Fund) | 811-22338         |
| Franklin Global Equity Fund                                                                   | 811-06444         |
| Franklin Colorado Tax-Free Income Fund                                                        | 811-04149         |
| Templeton Global Balanced Fund                                                                | 811-08226         |
| Putnam Focused Large Cap Growth ETF                                                           | 811-23643         |
| Western Asset Corporate Bond Fund                                                             | 811-04254         |
| ClearBridge Variable Appreciation Portfolio                                                   | 811-21128         |
| Franklin Templeton SMACS:  Series E                                                           | 811-06243         |
| Putnam New Jersey Tax Exempt Income Fund                                                      | 811-05977         |
| Franklin DynaTech Fund                                                                        | 811-00537         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund                                       | 811-04149         |
| Franklin S&P 500 Index Fund                                                                   | 811-06444         |
| Putnam ESG Core Bond ETF                                                                      | 811-23643         |
| Putnam Ultra Short Duration Income Fund                                                       | 811-07513         |
| Franklin LifeSmart 2020 Retirement Target Fund                                                | 811-07851         |
| Franklin U.S. Large Cap Equity Fund                                                           | 811-06444         |
| Templeton Global Smaller Companies Fund                                                       | 811-03143         |
| Putnam Small Cap Growth Fund                                                                  | 811-07513         |
| ClearBridge International Growth Fund                                                         | 811-22338         |
| Franklin Growth Fund                                                                          | 811-00537         |
| Putnam VT George Putnam Balanced Fund                                                         | 811-05346         |
| Western Asset Municipal High Income Fund                                                      | 811-04254         |
| Franklin LifeSmart 2040 Retirement Target Fund                                                | 811-07851         |
| Franklin Alabama Tax-Free Income Fund                                                         | 811-04149         |
| ClearBridge Small Cap Fund                                                                    | 811-22338         |
| Franklin Gold and Precious Metals Fund                                                        | 811-01700         |
| Franklin Templeton Moderately Conservative Model Portfolio                                    | 811-21128         |
| Putnam VT International Value Fund                                                            | 811-05346         |
| Western Asset Ultra-Short Income Fund                                                         | 811-04254         |
| Putnam Large Cap Value Fund                                                                   | 811-02742         |
| Western Asset SMASh Series M Fund                                                             | 811-06740         |
| Templeton Developing Markets Trust                                                            | 811-06378         |
| Putnam Emerging Markets Ex-China ETF                                                          | 811-23643         |
| Franklin California Tax-Free Income Fund                                                      | 811-02790         |
| Putnam Mortgage Securities Fund                                                               | 811-03897         |
| ClearBridge Large Cap Value Fund                                                              | 811-06444         |
| Western Asset Core Plus VIT Portfolio                                                         | 811-06310         |
| Franklin LifeSmart 2030 Retirement Target Fund                                                | 811-07851         |
| Franklin Louisiana Tax-Free Income Fund                                                       | 811-04149         |
| Putnam Sustainable Leaders ETF                                                                | 811-23643         |
| ClearBridge Mid Cap Growth Fund                                                               | 811-06444         |
| Putnam VT Diversified Income Fund                                                             | 811-05346         |
| Martin Currie Emerging Markets Fund                                                           | 811-22338         |
| Putnam Multi-Asset Income Fund                                                                | 811-07121         |
| Franklin Federal Limited-Term Tax-Free Income Fund                                            | 811-04149         |
| Franklin Templeton Moderate Model Portfolio                                                   | 811-21128         |
| Putnam Dynamic Asset Allocation Balanced Fund                                                 | 811-07121         |
| ClearBridge Sustainability Leaders Fund                                                       | 811-06444         |
| Franklin Templeton SMACS:  Series CH                                                          | 811-06243         |
| Franklin Equity Income Fund                                                                   | 811-04986         |
| Franklin International Equity Fund (fka QS International Equity Fund)                         | 811-22338         |
| Putnam BDC Income ETF                                                                         | 811-23643         |
| Putnam VT High Yield Fund                                                                     | 811-05346         |
| Franklin Missouri Tax-Free Income Fund                                                        | 811-04149         |
| Templeton Developing Markets VIP Fund                                                         | 811-05583         |
| Putnam Global Technology Fund                                                                 | 811-07513         |
| Franklin LifeSmart 2055 Retirement Target Fund                                                | 811-07851         |
| Putnam Core Bond Fund (f/k/a Putnam Fixed Income Absolute Return Fund)                        | 811-07513         |
| Franklin LifeSmart Retirement Income Fund                                                     | 811-07851         |
| Franklin Mutual Shares Fund                                                                   | 811-05387         |
| Putnam Government Money Market Fund                                                           | 811-07237         |
| Western Asset Short Duration Municipal Income Fund                                            | 811-04254         |
| BrandywineGLOBAL - High Yield Fund                                                            | 811-06444         |
| ClearBridge International Value Fund                                                          | 811-06444         |
| Franklin Allocation VIP Fund (f/k/a Franklin Founding Funds Allocation VIP Fund)              | 811-05583         |
| Putnam Sustainable Future Fund                                                                | 811-07237         |
| Putnam VT Income Fund                                                                         | 811-05346         |
| Western Asset Total Return Unconstrained Fund                                                 | 811-06110         |
| Putnam VT Small Cap Value Fund                                                                | 811-05346         |
| Franklin Rising Dividends VIP Fund                                                            | 811-05583         |
| Templeton Sustainable Emerging Markets Bond Fund                                              | 811-04706         |
| Western Asset Pennsylvania Municipals Fund                                                    | 811-04254         |
| Western Asset SMASh Series C Fund                                                             | 811-06740         |
| Putnam Money Market Fund                                                                      | 811-02608         |
| Western Asset Inflation Indexed Plus Bond Fund                                                | 811-06110         |
| Franklin Growth Opportunities Fund                                                            | 811-06243         |
| Franklin LifeSmart 2035 Retirement Target Fund                                                | 811-07851         |
| Western Asset Core Bond Fund                                                                  | 811-06110         |
| Putnam Global Income Trust                                                                    | 811-04524         |
| Franklin Emerging Market Debt Opportunities Fund                                              | 811-10157         |
| Franklin Mutual U.S. Mid Cap Value Fund                                                       | 811-05878         |
| Franklin Minnesota Tax-Free Income Fund                                                       | 811-04149         |
| Putnam Tax Exempt Income Fund                                                                 | 811-02675         |
| Templeton Global Bond VIP Fund                                                                | 811-05583         |
| Franklin Growth Allocation Fund                                                               | 811-07851         |
| Putnam Global Health Care Fund                                                                | 811-03386         |
| Putnam Minnesota Tax Exempt Income Fund                                                       | 811-04527         |
| Templeton Growth VIP Fund                                                                     | 811-05583         |
| Franklin High Income Fund                                                                     | 811-01608         |
| Franklin Large Cap Growth VIP Fund                                                            | 811-05583         |
| Franklin Connecticut Tax-Free Income Fund                                                     | 811-04149         |
| Franklin North Carolina Tax-Free Income Fund                                                  | 811-04149         |
| ClearBridge Variable Dividend Strategy Portfolio                                              | 811-21128         |
| BrandywineGLOBAL - Global Opportuniites Bond Fund                                             | 811-22338         |
| Putnam Dynamic Asset Allocation Conservative Fund                                             | 811-07121         |
| International Equity Series                                                                   | 811-06135         |
| ClearBridge Tactical Dividend Income Fund                                                     | 811-06444         |
| Western Asset Long Credit VIT                                                                 | 811-06310         |
| Putnam VT Small Cap Growth Fund                                                               | 811-05346         |
| Western Asset Income Fund                                                                     | 811-04254         |
| Putnam Tax-Free High Yield Fund                                                               | 811-04345         |
| Franklin Templeton SMACS:  Series H                                                           | 811-06243         |
| ClearBridge Variable Growth Portfolio                                                         | 811-21128         |
| Franklin Mutual Quest Fund                                                                    | 811-05387         |
| Putnam International Capital Opportunities Fund                                               | 811-07237         |
| Franklin Templeton Aggressive Model Portfolio                                                 | 811-21128         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 3 - Franklin Biotechnology Discovery Fund

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

- **a. Full Name of the Fund:** Franklin Biotechnology Discovery Fund

- **b. Series identification number, if any:** S000006882

- **c. LEI:** 6N5133EDK315FXQQM036

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 4

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class C                 | C000141458                                | FBTDX                        |
|                           2 | Class R6                | C000128862                                | FRBRX                        |
|                           3 | Advisor Class           | C000081539                                | FTDZX                        |
|                           4 | Class A                 | C000018631                                | FBDIX                        |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [x] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** Yes

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** Goldman Sachs Bank USA

- **ii. LEI, if any:** KD3XUN7C6T14HNAYLU02

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Advisers, Inc.

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

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $11,710,021.20

- **g. Provide the net income from securities lending activities:** $1,000,096.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

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

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

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

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

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

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

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

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

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

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

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

**Investment Advisers Record: 1**

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

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

- **iii. CRD number:** 000104517

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

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

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

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

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

**Transfer Agents Record: 1**

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

- **ii. SEC file number:** 084-01036

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

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

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

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

**Transfer Agents Record: 2**

- **i. Full name:** FIS Investor Services, LLC /TA

- **ii. SEC file number:** 084-06522

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

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

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

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

- **b. Has a transfer agent been hired or terminated during the reporting period?** No

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

**Pricing Services Record: 1**

- **i. Full name:** LSEG

- **ii. LEI, if any, or provide and describe other identifying number:** 2138007FV67QQ13CGJ43

- **Description of other identifying number:** LEI Number

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

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

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

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

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

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

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

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

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Self - rule 17f-2 (17 CFR 270.17f-2)

**Custodians Record: 2**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

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

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

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

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

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

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

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

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

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

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

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

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

**Administrators Record: 1**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

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

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

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

- **vi. Is the administrator a sub-administrator?:** Yes

**Administrators Record: 2**

- **i. Full name:** FRANKLIN TEMPLETON SERVICES, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

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

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

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

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

- **b. SEC file number:** 8-43206

- **c. CRD number:** 000027884

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

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

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

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

**Broker Dealers Record: 2**

- **a. Full name:** Franklin Templeton Financial Services Corp.

- **b. SEC file number:** 8-29504

- **c. CRD number:** 000013594

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

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

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

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

**Broker Dealers Record: 3**

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

- **b. SEC file number:** 8-5889

- **c. CRD number:** 000000332

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

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

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

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

**Item C.16. Brokers.**

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

**Brokers Record: 1**

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

- **ii. SEC file number:** 8-15074

- **iii. CRD number:** 000002347

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $21,010.91

**Brokers Record: 2**

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

- **ii. SEC file number:** 8-23669

- **iii. CRD number:** 000007897

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $54,752.73

**Brokers Record: 3**

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

- **ii. SEC file number:** 8-35008

- **iii. CRD number:** 000000079

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $22,454.59

**Brokers Record: 4**

- **i. Full name of broker:** Keybanc Capital Markets Inc.

- **ii. SEC file number:** 8-30177

- **iii. CRD number:** 000000566

- **iv. LEI, if any:** 2EQWV0180Z211YVAD813

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $25,525.45

**Brokers Record: 5**

- **i. Full name of broker:** JonesTrading Institutional Services LLC

- **ii. SEC file number:** 8-26089

- **iii. CRD number:** 000006888

- **iv. LEI, if any:** 2138008JJ5PA8H5UIL69

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $107,590.65

**Brokers Record: 6**

- **i. Full name of broker:** William Blair & Company, L.L.C.

- **ii. SEC file number:** 8-02698

- **iii. CRD number:** 000001252

- **iv. LEI, if any:** 549300J0P7XYE8BMZ775

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $32,782.46

**Brokers Record: 7**

- **i. Full name of broker:** Morgan Stanley & Co. LLC

- **ii. SEC file number:** 8-15869

- **iii. CRD number:** 000008209

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $99,281.07

**Brokers Record: 8**

- **i. Full name of broker:** Guggenheim Securities, LLC

- **ii. SEC file number:** 8-49107

- **iii. CRD number:** 000040638

- **iv. LEI, if any:** 5493005G25VHYWLYJU59

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $40,466.73

**Brokers Record: 9**

- **i. Full name of broker:** Merrill Lynch, Pierce, Fenner & Smith Inc.

- **ii. SEC file number:** 8-07221

- **iii. CRD number:** 000007691

- **iv. LEI, if any:** 8NAV47T0Y26Q87Y0QP81

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $52,748.02

**Brokers Record: 10**

- **i. Full name of broker:** SVB Leerink LLC

- **ii. SEC file number:** 8-48535

- **iii. CRD number:** 000039011

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $53,498.66

**Aggregate Commission:** $691,679.03

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

| Name                                           | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| CanAccord Genuity Wealth Management (USA) Inc. | 8-21025           | 000007449    | 5493002DR5KW4JP7YS87 |  |  | $727,715.81               |
| Goldman Sachs & Co. LLC                        | 8-00129           | 000000361    | FOR8UP27PHTHYVLBNG30 | NY      | US        | $10,365,975.00            |
| J.P. Morgan Securities LLC                     | 8-35008           | 000000079    | ZBUT11V806EZRVTWT807 | NY      | US        | $478,560,054.43           |
| Morgan Stanley & Co. LLC                       | 8-15869           | 000008209    | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $2,136,775.03             |
| Direct Investment India                        | N/A               | N/A          | N/A                  |  |  | $8,292,486.00             |
| Merrill Lynch, Pierce, Fenner & Smith Inc.     | 8-07221           | 000007691    | 8NAV47T0Y26Q87Y0QP81 | NY      | US        | $6,363,000.00             |
| SVB Leerink LLC                                | 8-48535           | 000039011    | N/A                  | MA      | US        | $3,600,679.00             |
| Jefferies LLC                                  | 8-15074           | 000002347    | 58PU97L1C0WSRCWADL48 | NY      | US        | $1,795,992.00             |
| Fiduciary Trust Company International          | N/A               | N/A          | N1YKEWO2IYPRS4742F57 | CA      | US        | $879,879.99               |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $512,722,557.26

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

- **Item C.19.a - Fund's monthly average net assets:** $851,638,159.68

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,995,000,000.00

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

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

  - **Line Institutions Record: 2 Name of institution:** JPMORGAN CHASE BANK, N.A.

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

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

  - **Line Institutions Record: 5 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 6 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 7 Name of institution:** MORGAN STANLEY SENIOR FUNDING, INC.

  - **Line Institutions Record: 8 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

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

  - **Line Institutions Record: 10 Name of institution:** DEUTSCHE BANK SECURITIES INC.

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                                                  | SEC File number   |
|:---|:---|
| Franklin Strategic Mortgage Portfolio                                                         | 811-07288         |
| ClearBridge Sustainability Leaders Fund                                                       | 811-06444         |
| Franklin Templeton SMACS:  Series E                                                           | 811-06243         |
| Franklin Templeton SMACS:  Series I                                                           | 811-06243         |
| Franklin Floating Rate Daily Access Fund                                                      | 811-04986         |
| Putnam VT Sustainable Leaders Fund                                                            | 811-05346         |
| Western Asset SMASh Series M Fund                                                             | 811-06740         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund                                             | 811-22338         |
| Western Asset Intermediate-Term Municipals Fund                                               | 811-04254         |
| Putnam Pennsylvania Tax Exempt Income Fund                                                    | 811-05802         |
| Putnam California Tax Exempt Income Fund                                                      | 811-03630         |
| Franklin Mutual Shares VIP Fund                                                               | 811-05583         |
| Franklin California Intermediate-Term Tax-Free Income Fund                                    | 811-04356         |
| Western Asset Pennsylvania Municipals Fund                                                    | 811-04254         |
| Franklin Income Fund                                                                          | 811-00537         |
| Templeton Emerging Markets Small Cap Fund                                                     | 811-08226         |
| Putnam VT Small Cap Growth Fund                                                               | 811-05346         |
| Franklin Georgia Tax-Free Income Fund                                                         | 811-04149         |
| Franklin Low Duration U.S. Government Securities Fund                                         | 811-04986         |
| Franklin U.S. Government Securities Fund                                                      | 811-00537         |
| Franklin Low Duration Total Return Fund                                                       | 811-04986         |
| Franklin Income VIP Fund                                                                      | 811-05583         |
| Putnam Multi-Asset Income Fund                                                                | 811-07121         |
| Putnam Diversified Income Trust                                                               | 811-05635         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund                                       | 811-04149         |
| Franklin Mutual International Value Fund                                                      | 811-05387         |
| Putnam Focused Large Cap Growth ETF                                                           | 811-23643         |
| Franklin Rising Dividends VIP Fund                                                            | 811-05583         |
| Western Asset Long Credit VIT                                                                 | 811-06310         |
| Franklin Floating Rate Master Series                                                          | 811-09869         |
| Putnam International Capital Opportunities Fund                                               | 811-07237         |
| Putnam VT Large Cap Value Fund                                                                | 811-05346         |
| ClearBridge Variable Large Cap Value Portfolio                                                | 811-21128         |
| Franklin Federal Limited-Term Tax-Free Income Fund                                            | 811-04149         |
| Putnam VT International Equity Fund                                                           | 811-05346         |
| Franklin Templeton Moderately Conservative Model Portfolio                                    | 811-21128         |
| Putnam International Equity Fund                                                              | 811-06190         |
| Franklin California Tax-Free Income Fund                                                      | 811-02790         |
| Franklin New York Intermediate-Term Tax-Free Income Fund                                      | 811-04787         |
| Franklin Multi-Asset Variable Conservative Growth Fund                                        | 811-21128         |
| Franklin California High Yield Municipal Fund                                                 | 811-06481         |
| Putnam Focused Equity Fund                                                                    | 811-07513         |
| Franklin Templeton Moderate Model Portfolio                                                   | 811-21128         |
| Putnam Ultra Short MAC Series                                                                 | 811-07513         |
| Templeton Global Smaller Companies Fund                                                       | 811-03143         |
| ClearBridge Small Cap Fund                                                                    | 811-22338         |
| Western Asset New Jersey Municipals Fund                                                      | 811-04254         |
| Franklin Minnesota Tax-Free Income Fund                                                       | 811-04149         |
| Putnam VT Income Fund                                                                         | 811-05346         |
| K2 Alternative Strategies Fund                                                                | 811-22641         |
| Franklin Missouri Tax-Free Income Fund                                                        | 811-04149         |
| Putnam Income Fund                                                                            | 811-00653         |
| Franklin Total Return Fund                                                                    | 811-04986         |
| Franklin Emerging Market Debt Opportunities Fund                                              | 811-10157         |
| Putnam VT Research Fund                                                                       | 811-05346         |
| Putnam Global Health Care Fund                                                                | 811-03386         |
| Franklin Multi-Asset Growth Fund                                                              | 811-06444         |
| Western Asset Intermediate Bond Fund                                                          | 811-06110         |
| Putnam Minnesota Tax Exempt Income Fund                                                       | 811-04527         |
| Templeton World Fund                                                                          | 811-02781         |
| BrandywineGLOBAL - Alternative Credit Fund                                                    | 811-22338         |
| Putnam Dynamic Asset Allocation Growth Fund                                                   | 811-07121         |
| Franklin VolSmart Allocation VIP Fund                                                         | 811-05583         |
| Putnam Short Duration Bond Fund                                                               | 811-07513         |
| Western Asset California Municipals Fund                                                      | 811-04254         |
| Franklin Moderate Allocation Fund                                                             | 811-07851         |
| Western Asset Variable Global High Yield Bond Portfolio                                       | 811-06310         |
| Putnam Sustainable Future Fund                                                                | 811-07237         |
| Franklin LifeSmart 2045 Retirement Target Fund                                                | 811-07851         |
| Franklin Pennsylvania Tax-Free Income Fund                                                    | 811-04149         |
| Western Asset New York Municipals Fund                                                        | 811-04254         |
| Putnam Mortgage Securities Fund                                                               | 811-03897         |
| Putnam Dynamic Asset Allocation Balanced Fund                                                 | 811-07121         |
| ClearBridge Growth Fund                                                                       | 811-06444         |
| Putnam Short-Term Municipal Income Fund                                                       | 811-07513         |
| Templeton Sustainable Emerging Markets Bond Fund                                              | 811-04706         |
| Martin Currie SMASh Series EM Fund                                                            | 811-22338         |
| Western Asset High Yield Fund                                                                 | 811-06110         |
| Putnam VT Focused International Equity Fund                                                   | 811-05346         |
| Franklin Small Cap Value VIP Fund                                                             | 811-05583         |
| Franklin Massachusetts Tax-Free Income Fund                                                   | 811-04149         |
| Putnam ESG Ultra Short ETF                                                                    | 811-23643         |
| Franklin LifeSmart 2040 Retirement Target Fund                                                | 811-07851         |
| BrandywineGLOBAL - High Yield Fund                                                            | 811-06444         |
| Franklin Mutual U.S. Mid Cap Value Fund                                                       | 811-05878         |
| Franklin Mutual Shares Fund                                                                   | 811-05387         |
| ClearBridge Small Cap Growth Fund                                                             | 811-06444         |
| Franklin Convertible Securities Fund                                                          | 811-04986         |
| Putnam BioRevolution ETF                                                                      | 811-23643         |
| Putnam VT Global Health Care Fund                                                             | 811-05346         |
| Putnam Convertible Securities Fund                                                            | 811-02280         |
| Franklin Allocation VIP Fund (f/k/a Franklin Founding Funds Allocation VIP Fund)              | 811-05583         |
| Franklin Mutual Beacon Fund                                                                   | 811-05387         |
| Western Asset Mortgage Total Return Fund                                                      | 811-04254         |
| ClearBridge Large Cap Value Fund                                                              | 811-06444         |
| Franklin Multi-Asset Defensive Growth Fund                                                    | 811-06444         |
| Putnam Emerging Markets Ex-China ETF                                                          | 811-23643         |
| Western Asset Core Plus Bond Fund                                                             | 811-06110         |
| Franklin Mutual Global Discovery Fund                                                         | 811-05387         |
| Putnam VT Small Cap Value Fund                                                                | 811-05346         |
| ClearBridge Select Fund                                                                       | 811-06444         |
| Franklin LifeSmart 2020 Retirement Target Fund                                                | 811-07851         |
| Franklin S&P 500 Index Fund                                                                   | 811-06444         |
| Franklin Multi-Asset Conservative Growth Fund                                                 | 811-06444         |
| Putnam VT Diversified Income Fund                                                             | 811-05346         |
| Franklin Managed Income Fund                                                                  | 811-04986         |
| Putnam VT Core Equity Fund (f/k/a Putnam VT Multi-Cap Core Fund)                              | 811-05346         |
| Franklin Templeton Aggressive Model Portfolio                                                 | 811-21128         |
| Templeton Growth VIP Fund                                                                     | 811-05583         |
| Western Asset Corporate Bond Fund                                                             | 811-04254         |
| Western Asset Total Return ETF                                                                | 811-23096         |
| Putnam New York Tax Exempt Income Fund                                                        | 811-03741         |
| ClearBridge Value Fund                                                                        | 811-22338         |
| Putnam Tax Exempt Income Fund                                                                 | 811-02675         |
| Franklin Federal Tax-Free Income Fund                                                         | 811-03395         |
| Franklin Global Allocation Fund                                                               | 811-07851         |
| Franklin Long Duration Credit Fund                                                            | 811-04986         |
| Western Asset Inflation Indexed Plus Bond Fund                                                | 811-06110         |
| Franklin High Yield Tax-Free Income Fund                                                      | 811-04149         |
| Western Asset SMASh Series C Fund                                                             | 811-06740         |
| Franklin Oregon Tax-Free Income Fund                                                          | 811-04149         |
| Putnam Emerging Markets Equity Fund                                                           | 811-07513         |
| Putnam Sustainable Leaders ETF                                                                | 811-23643         |
| Western Asset Municipal High Income Fund                                                      | 811-04254         |
| Franklin U.S. Government Securities VIP Fund                                                  | 811-05583         |
| ClearBridge Dividend Strategy Fund                                                            | 811-06444         |
| Western Asset Intermediate Maturity New York Municipals Fund                                  | 811-04254         |
| Franklin Maryland Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Small-Mid Cap Growth Fund                                                            | 811-06243         |
| Franklin International Equity Fund (fka QS International Equity Fund)                         | 811-22338         |
| Franklin High Income Fund                                                                     | 811-01608         |
| Putnam VT Emerging Markets Equity Fund                                                        | 811-05346         |
| Franklin Templeton Moderately Aggressive Model Portfolio                                      | 811-21128         |
| Putnam Focused Large Cap Value ETF                                                            | 811-23643         |
| Franklin LifeSmart 2055 Retirement Target Fund                                                | 811-07851         |
| Putnam Strategic Intermediate Municipal Fund                                                  | 811-04345         |
| Putnam VT Global Asset Allocation Fund                                                        | 811-05346         |
| Putnam New Jersey Tax Exempt Income Fund                                                      | 811-05977         |
| Putnam Ultra Short Duration Income Fund                                                       | 811-07513         |
| Franklin Growth Fund                                                                          | 811-00537         |
| Franklin Global Real Estate VIP Fund                                                          | 811-05583         |
| Franklin Ohio Tax-Free Income Fund                                                            | 811-04149         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund                                        | 811-22338         |
| Putnam Intermediate-Term Municipal Income Fund                                                | 811-07513         |
| Templeton Global Balanced Fund                                                                | 811-08226         |
| Western Asset Massachusetts Municipals Fund                                                   | 811-04254         |
| Franklin Louisiana Tax-Free Income Fund                                                       | 811-04149         |
| Franklin Real Estate Securities Fund                                                          | 811-08034         |
| Putnam ESG High Yield ETF                                                                     | 811-23643         |
| Franklin Mutual Small-Mid Cap Value Fund                                                      | 811-05878         |
| Putnam BDC Income ETF                                                                         | 811-23643         |
| Putnam Dynamic Asset Allocation Equity Fund                                                   | 811-07513         |
| Foreign Smaller Companies Series                                                              | 811-06135         |
| Franklin Templeton Conservative Model Portfolio                                               | 811-21128         |
| Putnam Research Fund                                                                          | 811-07237         |
| Western Asset Short-Term Bond Fund                                                            | 811-04254         |
| Western Asset Core Plus VIT Portfolio                                                         | 811-06310         |
| Putnam VT High Yield Fund                                                                     | 811-05346         |
| Franklin DynaTech VIP Fund                                                                    | 811-05583         |
| Western Asset Intermediate Maturity California Municipals Fund                                | 811-04254         |
| Putnam VT Large Cap Growth Fund (f/k/a Putnam VT Growth Opportunities Fund)                   | 811-05346         |
| Franklin Global Equity Fund                                                                   | 811-06444         |
| Western Asset SMASh Series Core Plus Completion                                               | 811-06740         |
| Franklin Growth Opportunities Fund                                                            | 811-06243         |
| Putnam ESG Core Bond ETF                                                                      | 811-23643         |
| Putnam High Yield Fund                                                                        | 811-04616         |
| George Putnam Balanced Fund                                                                   | 811-00058         |
| Putnam Large Cap Growth Fund (f/k/a Putnam Growth Opportunities Fund)                         | 811-07237         |
| Putnam Massachusetts Tax Exempt Income Fund                                                   | 811-04518         |
| ClearBridge Variable Mid Cap Portfolio                                                        | 811-21128         |
| Western Asset Total Return Unconstrained Fund                                                 | 811-06110         |
| Western Asset Short Duration Municipal Income Fund                                            | 811-04254         |
| Putnam VT George Putnam Balanced Fund                                                         | 811-05346         |
| Franklin LifeSmart 2030 Retirement Target Fund                                                | 811-07851         |
| Franklin Small Cap Growth Fund                                                                | 811-06243         |
| Martin Currie Emerging Markets Fund                                                           | 811-22338         |
| Franklin High Yield Corporate ETF                                                             | 811-23124         |
| Franklin Gold and Precious Metals Fund                                                        | 811-01700         |
| Western Asset Short Duration Income ETF                                                       | 811-23096         |
| Franklin Arizona Tax-Free Income Fund                                                         | 811-04149         |
| Western Asset Income Fund                                                                     | 811-04254         |
| Franklin Small Cap Value Fund                                                                 | 811-05878         |
| Franklin Small-Mid Cap Growth VIP Fund                                                        | 811-05583         |
| Franklin Equity Income Fund                                                                   | 811-04986         |
| Franklin Mutual Quest Fund                                                                    | 811-05387         |
| Templeton Global Bond Fund                                                                    | 811-04706         |
| Franklin LifeSmart 2035 Retirement Target Fund                                                | 811-07851         |
| Franklin Templeton SMACS:  Series H                                                           | 811-06243         |
| Franklin North Carolina Tax-Free Income Fund                                                  | 811-04149         |
| Putnam PanAgora ESG Emerging Markets Equity ETF                                               | 811-23643         |
| ClearBridge Tactical Dividend Income Fund                                                     | 811-06444         |
| Franklin Colorado Tax-Free Income Fund                                                        | 811-04149         |
| Templeton Developing Markets VIP Fund                                                         | 811-05583         |
| Templeton Foreign Fund                                                                        | 811-02781         |
| Western Asset Oregon Municipals Fund                                                          | 811-04254         |
| Putnam Small Cap Growth Fund                                                                  | 811-07513         |
| ClearBridge Global Infrastructure Income Fund                                                 | 811-22338         |
| Franklin Natural Resources Fund                                                               | 811-06243         |
| Templeton International Bond Fund                                                             | 811-04706         |
| ClearBridge International Value Fund                                                          | 811-06444         |
| Franklin Connecticut Tax-Free Income Fund                                                     | 811-04149         |
| Putnam VT Government Money Market Fund                                                        | 811-05346         |
| Franklin Rising Dividends Fund                                                                | 811-04894         |
| Putnam Dynamic Asset Allocation Conservative Fund                                             | 811-07121         |
| Franklin Conservative Allocation Fund                                                         | 811-07851         |
| Putnam Government Money Market Fund                                                           | 811-07237         |
| Putnam Global Income Trust                                                                    | 811-04524         |
| Franklin LifeSmart Retirement Income Fund                                                     | 811-07851         |
| Putnam Money Market Fund                                                                      | 811-02608         |
| BrandywineGLOBAL - Corporate Credit Fund                                                      | 811-06444         |
| Western Asset Bond ETF                                                                        | 811-23124         |
| Putnam Large Cap Value Fund                                                                   | 811-02742         |
| Putnam VT Mortgage Securities Fund                                                            | 811-05346         |
| ClearBridge International Growth Fund                                                         | 811-22338         |
| Franklin U.S. Small Capitalization Equity Fund (fka QS U.S. Small Capitalization Equity Fund) | 811-22338         |
| Putnam VT Sustainable Future Fund                                                             | 811-05346         |
| BrandywineGLOBAL - Flexible Bond Fund                                                         | 811-22338         |
| Templeton Developing Markets Trust                                                            | 811-06378         |
| Putnam Sustainable Future ETF                                                                 | 811-23643         |
| Western Asset Managed Municipals Fund                                                         | 811-04254         |
| Franklin LifeSmart 2060 Retirement Target Fund                                                | 811-07851         |
| Franklin Virginia Tax-Free Income Fund                                                        | 811-04149         |
| BrandywineGLOBAL - Global Opportuniites Bond Fund                                             | 811-22338         |
| Franklin Mutual Global Discovery VIP Fund                                                     | 811-05583         |
| Franklin Utilities Fund                                                                       | 811-00537         |
| ClearBridge Appreciation Fund                                                                 | 811-06444         |
| Putnam Global Technology Fund                                                                 | 811-07513         |
| Franklin Templeton SMACS:  Series EM                                                          | 811-08226         |
| Franklin Core Plus Bond Fund                                                                  | 811-06243         |
| Franklin U.S. Large Cap Equity Fund                                                           | 811-06444         |
| Franklin New Jersey Tax-Free Income Fund                                                      | 811-04149         |
| Franklin Corefolio Allocation Fund                                                            | 811-07851         |
| Franklin Multi-Asset Variable Growth Fund                                                     | 811-21128         |
| Putnam Sustainable Leaders Fund                                                               | 811-06128         |
| Western Asset Core Bond Fund                                                                  | 811-06110         |
| Franklin Growth and Income VIP Fund                                                           | 811-05583         |
| Putnam International Value Fund                                                               | 811-07513         |
| Putnam Focused International Equity Fund                                                      | 811-01403         |
| Franklin Strategic Income VIP Fund                                                            | 811-05583         |
| Western Asset SMASh Series TF Fund                                                            | 811-06740         |
| Franklin Templeton SMACS:  Series CH                                                          | 811-06243         |
| Franklin Senior Loan ETF                                                                      | 811-23124         |
| ClearBridge Variable Large Cap Growth Portfolio                                               | 811-21128         |
| Putnam VT International Value Fund                                                            | 811-05346         |
| Putnam Floating Rate Income Fund                                                              | 811-07513         |
| Franklin Multi-Asset Variable Moderate Growth Fund                                            | 811-21128         |
| ClearBridge Large Cap Growth Fund                                                             | 811-06444         |
| Templeton Global Bond VIP Fund                                                                | 811-05583         |
| Franklin Large Cap Growth VIP Fund                                                            | 811-05583         |
| ClearBridge Variable Growth Portfolio                                                         | 811-21128         |
| ClearBridge Mid Cap Growth Fund                                                               | 811-06444         |
| ClearBridge Variable Appreciation Portfolio                                                   | 811-21128         |
| Western Asset Short Duration High Income Fund                                                 | 811-04254         |
| Franklin Alabama Tax-Free Income Fund                                                         | 811-04149         |
| Franklin DynaTech Fund                                                                        | 811-00537         |
| Franklin LifeSmart 2050 Retirement Target Fund                                                | 811-07851         |
| Western Asset SMASh Series Core Completion Fund                                               | 811-06740         |
| Putnam Ohio Tax Exempt Income Fund                                                            | 811-04528         |
| Templeton Growth Fund, Inc.                                                                   | 811-04892         |
| Putnam Mortgage Opportunities Fund                                                            | 811-07513         |
| Putnam PanAgora ESG International Equity ETF                                                  | 811-23643         |
| Putnam Small Cap Value Fund                                                                   | 811-07237         |
| Franklin International Growth Fund                                                            | 811-10157         |
| Franklin Michigan Tax-Free Income Fund                                                        | 811-04149         |
| ClearBridge Mid Cap Fund                                                                      | 811-06444         |
| ClearBridge Variable Small Cap Growth Portfolio                                               | 811-21128         |
| Franklin LifeSmart 2025 Retirement Target Fund                                                | 811-07851         |
| Templeton Global Total Return Fund                                                            | 811-04706         |
| Western Asset Ultra-Short Income Fund                                                         | 811-04254         |
| Franklin Multi-Asset Moderate Growth Fund                                                     | 811-06444         |
| International Equity Series                                                                   | 811-06135         |
| Franklin Growth Allocation Fund                                                               | 811-07851         |
| Franklin New York Tax-Free Income Fund                                                        | 811-03479         |
| Putnam Core Equity Fund (f/k/a Putnam Multi-Cap Core Fund)                                    | 811-07513         |
| ClearBridge Variable Dividend Strategy Portfolio                                              | 811-21128         |
| Putnam Core Bond Fund (f/k/a Putnam Fixed Income Absolute Return Fund)                        | 811-07513         |
| Putnam Tax-Free High Yield Fund                                                               | 811-04345         |
| Templeton Foreign VIP Fund                                                                    | 811-05583         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 4 - Franklin Small Cap Growth Fund

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

- **a. Full Name of the Fund:** Franklin Small Cap Growth Fund

- **b. Series identification number, if any:** S000006889

- **c. LEI:** 549300XFMMOAHNB37068

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 5

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Advisor Class           | C000018658                                | FSSAX                        |
|                           2 | Class C                 | C000018657                                | FCSGX                        |
|                           3 | Class A                 | C000018655                                | FSGRX                        |
|                           4 | Class R                 | C000018659                                | FSSRX                        |
|                           5 | Class R6                | C000128865                                | FSMLX                        |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [x] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** Goldman Sachs Bank USA

- **ii. LEI, if any:** KD3XUN7C6T14HNAYLU02

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Advisers, Inc.

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

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $11,092,257.07

- **g. Provide the net income from securities lending activities:** $220,473.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

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

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

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

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

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

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

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

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

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

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

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

**Investment Advisers Record: 1**

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

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

- **iii. CRD number:** 000104517

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

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

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

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

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

**Transfer Agents Record: 1**

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

- **ii. SEC file number:** 084-01036

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

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

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

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

**Transfer Agents Record: 2**

- **i. Full name:** FIS Investor Services, LLC /TA

- **ii. SEC file number:** 084-06522

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

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

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

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

- **b. Has a transfer agent been hired or terminated during the reporting period?** No

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

**Pricing Services Record: 1**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **Description of other identifying number:** LEI Number

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

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

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

**Pricing Services Record: 2**

- **i. Full name:** LSEG

- **ii. LEI, if any, or provide and describe other identifying number:** 2138007FV67QQ13CGJ43

- **Description of other identifying number:** LEI Number

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

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

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

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

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

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

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

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 2**

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

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

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

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

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Self - rule 17f-2 (17 CFR 270.17f-2)

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

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

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

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

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

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

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

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

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

**Administrators Record: 1**

- **i. Full name:** FRANKLIN TEMPLETON SERVICES, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

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

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

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

**Administrators Record: 2**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

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

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

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

- **vi. Is the administrator a sub-administrator?:** Yes

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** Franklin Templeton Financial Services Corp.

- **b. SEC file number:** 8-29504

- **c. CRD number:** 000013594

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

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

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

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

**Broker Dealers Record: 2**

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

- **b. SEC file number:** 8-43206

- **c. CRD number:** 000027884

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

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

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

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

**Broker Dealers Record: 3**

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

- **b. SEC file number:** 8-5889

- **c. CRD number:** 000000332

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

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

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

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

**Item C.16. Brokers.**

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

**Brokers Record: 1**

- **i. Full name of broker:** Citigroup Global Markets Inc.

- **ii. SEC file number:** 8-08177

- **iii. CRD number:** 000007059

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $70,954.41

**Brokers Record: 2**

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

- **ii. SEC file number:** 8-15074

- **iii. CRD number:** 000002347

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $71,324.05

**Brokers Record: 3**

- **i. Full name of broker:** JonesTrading Institutional Services LLC

- **ii. SEC file number:** 8-26089

- **iii. CRD number:** 000006888

- **iv. LEI, if any:** 2138008JJ5PA8H5UIL69

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $132,524.87

**Brokers Record: 4**

- **i. Full name of broker:** Sanford C. Bernstein & Co., LLC

- **ii. SEC file number:** 8-52942

- **iii. CRD number:** 000104474

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $71,868.45

**Brokers Record: 5**

- **i. Full name of broker:** Rosenblatt Securities Inc.

- **ii. SEC file number:** 8-24255

- **iii. CRD number:** 000018377

- **iv. LEI, if any:** 549300KXQP6H4QO07E91

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $55,003.32

**Brokers Record: 6**

- **i. Full name of broker:** Merrill Lynch, Pierce, Fenner & Smith Inc.

- **ii. SEC file number:** 8-07221

- **iii. CRD number:** 000007691

- **iv. LEI, if any:** 8NAV47T0Y26Q87Y0QP81

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $126,566.28

**Brokers Record: 7**

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

- **ii. SEC file number:** 8-35008

- **iii. CRD number:** 000000079

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $47,581.12

**Brokers Record: 8**

- **i. Full name of broker:** Morgan Stanley & Co. LLC

- **ii. SEC file number:** 8-15869

- **iii. CRD number:** 000008209

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $52,825.64

**Brokers Record: 9**

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

- **ii. SEC file number:** 8-23669

- **iii. CRD number:** 000007897

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $69,196.42

**Brokers Record: 10**

- **i. Full name of broker:** State Street Global Markets, LLC

- **ii. SEC file number:** 8-69862

- **iii. CRD number:** 000285852

- **iv. LEI, if any:** 549300FDEDF5ORXCMQ56

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $119,230.43

**Aggregate Commission:** $1,066,189.33

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

| Name                                       | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| Merrill Lynch, Pierce, Fenner & Smith Inc. | 8-07221           | 000007691    | 8NAV47T0Y26Q87Y0QP81 | NY      | US        | $8,154,900.00             |
| Fiduciary Trust Company International      | N/A               | N/A          | N1YKEWO2IYPRS4742F57 | CA      | US        | $1,252,411.42             |
| Goldman Sachs & Co. LLC                    | 8-00129           | 000000361    | FOR8UP27PHTHYVLBNG30 | NY      | US        | $7,841,250.00             |
| J.P. Morgan Securities LLC                 | 8-35008           | 000000079    | ZBUT11V806EZRVTWT807 | NY      | US        | $1,225,223,776.45         |
| Citigroup Global Markets Inc.              | 8-08177           | 000007059    | MBNUM2BPBDO7JBLYG310 | NY      | US        | $11,765,400.00            |
| Direct Investment India                    | N/A               | N/A          | N/A                  |  |  | $3,408,950.00             |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $1,257,646,687.87

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

- **Item C.19.a - Fund's monthly average net assets:** $2,722,245,686.68

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,995,000,000.00

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

  - **Line Institutions Record: 1 Name of institution:** THE BANK OF NEW YORK MELLON

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

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

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

  - **Line Institutions Record: 5 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 6 Name of institution:** MORGAN STANLEY SENIOR FUNDING, INC.

  - **Line Institutions Record: 7 Name of institution:** GOLDMAN SACHS BANK USA

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

  - **Line Institutions Record: 9 Name of institution:** DEUTSCHE BANK SECURITIES INC.

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

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                                                  | SEC File number   |
|:---|:---|
| Franklin VolSmart Allocation VIP Fund                                                         | 811-05583         |
| Franklin Conservative Allocation Fund                                                         | 811-07851         |
| Western Asset Short Duration Municipal Income Fund                                            | 811-04254         |
| Western Asset Ultra-Short Income Fund                                                         | 811-04254         |
| Putnam Sustainable Future ETF                                                                 | 811-23643         |
| Putnam Core Equity Fund (f/k/a Putnam Multi-Cap Core Fund)                                    | 811-07513         |
| Franklin LifeSmart 2020 Retirement Target Fund                                                | 811-07851         |
| Putnam Research Fund                                                                          | 811-07237         |
| Franklin California High Yield Municipal Fund                                                 | 811-06481         |
| Putnam Multi-Asset Income Fund                                                                | 811-07121         |
| Franklin Louisiana Tax-Free Income Fund                                                       | 811-04149         |
| Franklin LifeSmart 2030 Retirement Target Fund                                                | 811-07851         |
| Franklin Massachusetts Tax-Free Income Fund                                                   | 811-04149         |
| Western Asset SMASh Series M Fund                                                             | 811-06740         |
| Templeton Global Balanced Fund                                                                | 811-08226         |
| Franklin Templeton Aggressive Model Portfolio                                                 | 811-21128         |
| Franklin Multi-Asset Growth Fund                                                              | 811-06444         |
| Martin Currie SMASh Series EM Fund                                                            | 811-22338         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund                                       | 811-04149         |
| Western Asset Intermediate-Term Municipals Fund                                               | 811-04254         |
| Templeton Global Total Return Fund                                                            | 811-04706         |
| BrandywineGLOBAL - Flexible Bond Fund                                                         | 811-22338         |
| Putnam VT Sustainable Future Fund                                                             | 811-05346         |
| Franklin Multi-Asset Defensive Growth Fund                                                    | 811-06444         |
| Putnam VT Sustainable Leaders Fund                                                            | 811-05346         |
| Franklin International Equity Fund (fka QS International Equity Fund)                         | 811-22338         |
| ClearBridge Sustainability Leaders Fund                                                       | 811-06444         |
| Western Asset Short Duration Income ETF                                                       | 811-23096         |
| Franklin Templeton SMACS:  Series EM                                                          | 811-08226         |
| Putnam International Value Fund                                                               | 811-07513         |
| Putnam Diversified Income Trust                                                               | 811-05635         |
| ClearBridge Variable Small Cap Growth Portfolio                                               | 811-21128         |
| Franklin Mutual International Value Fund                                                      | 811-05387         |
| Franklin U.S. Small Capitalization Equity Fund (fka QS U.S. Small Capitalization Equity Fund) | 811-22338         |
| Western Asset Variable Global High Yield Bond Portfolio                                       | 811-06310         |
| International Equity Series                                                                   | 811-06135         |
| Franklin Global Real Estate VIP Fund                                                          | 811-05583         |
| Franklin Equity Income Fund                                                                   | 811-04986         |
| Templeton Growth Fund, Inc.                                                                   | 811-04892         |
| Putnam VT Global Asset Allocation Fund                                                        | 811-05346         |
| Western Asset Inflation Indexed Plus Bond Fund                                                | 811-06110         |
| ClearBridge Select Fund                                                                       | 811-06444         |
| Putnam VT Large Cap Value Fund                                                                | 811-05346         |
| Western Asset SMASh Series Core Plus Completion                                               | 811-06740         |
| Franklin Growth Opportunities Fund                                                            | 811-06243         |
| Templeton Developing Markets Trust                                                            | 811-06378         |
| Franklin Floating Rate Daily Access Fund                                                      | 811-04986         |
| Putnam Short-Term Municipal Income Fund                                                       | 811-07513         |
| Franklin Real Estate Securities Fund                                                          | 811-08034         |
| Franklin LifeSmart 2025 Retirement Target Fund                                                | 811-07851         |
| Franklin Mutual Quest Fund                                                                    | 811-05387         |
| Franklin U.S. Large Cap Equity Fund                                                           | 811-06444         |
| Franklin Rising Dividends Fund                                                                | 811-04894         |
| Franklin Natural Resources Fund                                                               | 811-06243         |
| Franklin Michigan Tax-Free Income Fund                                                        | 811-04149         |
| Putnam Global Technology Fund                                                                 | 811-07513         |
| Franklin U.S. Government Securities Fund                                                      | 811-00537         |
| Putnam VT Small Cap Growth Fund                                                               | 811-05346         |
| Franklin Federal Tax-Free Income Fund                                                         | 811-03395         |
| Franklin Virginia Tax-Free Income Fund                                                        | 811-04149         |
| Franklin High Income Fund                                                                     | 811-01608         |
| Putnam Large Cap Value Fund                                                                   | 811-02742         |
| ClearBridge Appreciation Fund                                                                 | 811-06444         |
| Western Asset SMASh Series C Fund                                                             | 811-06740         |
| Franklin Mutual U.S. Mid Cap Value Fund                                                       | 811-05878         |
| ClearBridge Global Infrastructure Income Fund                                                 | 811-22338         |
| Templeton Global Smaller Companies Fund                                                       | 811-03143         |
| Templeton Sustainable Emerging Markets Bond Fund                                              | 811-04706         |
| Franklin Income VIP Fund                                                                      | 811-05583         |
| Putnam Floating Rate Income Fund                                                              | 811-07513         |
| Franklin Arizona Tax-Free Income Fund                                                         | 811-04149         |
| Western Asset California Municipals Fund                                                      | 811-04254         |
| Franklin Global Allocation Fund                                                               | 811-07851         |
| Western Asset Core Bond Fund                                                                  | 811-06110         |
| ClearBridge Large Cap Growth Fund                                                             | 811-06444         |
| Franklin High Yield Tax-Free Income Fund                                                      | 811-04149         |
| Putnam VT International Value Fund                                                            | 811-05346         |
| Western Asset Intermediate Maturity California Municipals Fund                                | 811-04254         |
| Western Asset Mortgage Total Return Fund                                                      | 811-04254         |
| Putnam Massachusetts Tax Exempt Income Fund                                                   | 811-04518         |
| Franklin New Jersey Tax-Free Income Fund                                                      | 811-04149         |
| Franklin California Intermediate-Term Tax-Free Income Fund                                    | 811-04356         |
| Putnam Income Fund                                                                            | 811-00653         |
| Franklin Connecticut Tax-Free Income Fund                                                     | 811-04149         |
| Putnam Mortgage Opportunities Fund                                                            | 811-07513         |
| Templeton Emerging Markets Small Cap Fund                                                     | 811-08226         |
| Franklin Large Cap Growth VIP Fund                                                            | 811-05583         |
| Putnam ESG Core Bond ETF                                                                      | 811-23643         |
| Putnam Emerging Markets Equity Fund                                                           | 811-07513         |
| Putnam International Equity Fund                                                              | 811-06190         |
| Putnam Dynamic Asset Allocation Conservative Fund                                             | 811-07121         |
| Franklin Small Cap Value VIP Fund                                                             | 811-05583         |
| Western Asset Corporate Bond Fund                                                             | 811-04254         |
| Putnam PanAgora ESG International Equity ETF                                                  | 811-23643         |
| Western Asset Municipal High Income Fund                                                      | 811-04254         |
| Western Asset High Yield Fund                                                                 | 811-06110         |
| Western Asset Short Duration High Income Fund                                                 | 811-04254         |
| Franklin North Carolina Tax-Free Income Fund                                                  | 811-04149         |
| Putnam Pennsylvania Tax Exempt Income Fund                                                    | 811-05802         |
| Franklin Senior Loan ETF                                                                      | 811-23124         |
| Putnam VT Research Fund                                                                       | 811-05346         |
| ClearBridge Variable Large Cap Value Portfolio                                                | 811-21128         |
| Western Asset Oregon Municipals Fund                                                          | 811-04254         |
| ClearBridge Mid Cap Fund                                                                      | 811-06444         |
| Putnam Core Bond Fund (f/k/a Putnam Fixed Income Absolute Return Fund)                        | 811-07513         |
| Western Asset Intermediate Maturity New York Municipals Fund                                  | 811-04254         |
| Franklin Templeton Moderately Aggressive Model Portfolio                                      | 811-21128         |
| Putnam Minnesota Tax Exempt Income Fund                                                       | 811-04527         |
| ClearBridge Growth Fund                                                                       | 811-06444         |
| Franklin Floating Rate Master Series                                                          | 811-09869         |
| Putnam PanAgora ESG Emerging Markets Equity ETF                                               | 811-23643         |
| Putnam Dynamic Asset Allocation Equity Fund                                                   | 811-07513         |
| Western Asset Total Return Unconstrained Fund                                                 | 811-06110         |
| Western Asset Short-Term Bond Fund                                                            | 811-04254         |
| Franklin New York Tax-Free Income Fund                                                        | 811-03479         |
| Putnam Strategic Intermediate Municipal Fund                                                  | 811-04345         |
| Franklin Templeton Moderately Conservative Model Portfolio                                    | 811-21128         |
| Franklin California Tax-Free Income Fund                                                      | 811-02790         |
| Putnam Short Duration Bond Fund                                                               | 811-07513         |
| Franklin Strategic Income VIP Fund                                                            | 811-05583         |
| Franklin Growth and Income VIP Fund                                                           | 811-05583         |
| Putnam Government Money Market Fund                                                           | 811-07237         |
| Templeton Global Bond Fund                                                                    | 811-04706         |
| ClearBridge Variable Dividend Strategy Portfolio                                              | 811-21128         |
| Putnam High Yield Fund                                                                        | 811-04616         |
| Franklin Templeton SMACS:  Series E                                                           | 811-06243         |
| Franklin Allocation VIP Fund (f/k/a Franklin Founding Funds Allocation VIP Fund)              | 811-05583         |
| Franklin Strategic Mortgage Portfolio                                                         | 811-07288         |
| Franklin Mutual Global Discovery Fund                                                         | 811-05387         |
| Templeton Developing Markets VIP Fund                                                         | 811-05583         |
| Franklin Ohio Tax-Free Income Fund                                                            | 811-04149         |
| Martin Currie Emerging Markets Fund                                                           | 811-22338         |
| Western Asset SMASh Series Core Completion Fund                                               | 811-06740         |
| Putnam Focused Large Cap Growth ETF                                                           | 811-23643         |
| Putnam International Capital Opportunities Fund                                               | 811-07237         |
| ClearBridge Variable Large Cap Growth Portfolio                                               | 811-21128         |
| Templeton World Fund                                                                          | 811-02781         |
| Western Asset SMASh Series TF Fund                                                            | 811-06740         |
| Templeton International Bond Fund                                                             | 811-04706         |
| Franklin Templeton Conservative Model Portfolio                                               | 811-21128         |
| Franklin Biotechnology Discovery Fund                                                         | 811-06243         |
| Franklin Total Return Fund                                                                    | 811-04986         |
| Putnam California Tax Exempt Income Fund                                                      | 811-03630         |
| Putnam VT Mortgage Securities Fund                                                            | 811-05346         |
| Franklin Mutual Shares VIP Fund                                                               | 811-05583         |
| BrandywineGLOBAL - Alternative Credit Fund                                                    | 811-22338         |
| Putnam Sustainable Leaders Fund                                                               | 811-06128         |
| Franklin Templeton SMACS:  Series H                                                           | 811-06243         |
| Franklin Small Cap Value Fund                                                                 | 811-05878         |
| Putnam VT Income Fund                                                                         | 811-05346         |
| Putnam Global Health Care Fund                                                                | 811-03386         |
| ClearBridge Tactical Dividend Income Fund                                                     | 811-06444         |
| Franklin Minnesota Tax-Free Income Fund                                                       | 811-04149         |
| Franklin Templeton SMACS:  Series I                                                           | 811-06243         |
| Western Asset Long Credit VIT                                                                 | 811-06310         |
| Franklin Low Duration Total Return Fund                                                       | 811-04986         |
| Western Asset Managed Municipals Fund                                                         | 811-04254         |
| Putnam Convertible Securities Fund                                                            | 811-02280         |
| Franklin Mutual Shares Fund                                                                   | 811-05387         |
| Franklin Utilities Fund                                                                       | 811-00537         |
| Franklin LifeSmart Retirement Income Fund                                                     | 811-07851         |
| ClearBridge Value Fund                                                                        | 811-22338         |
| Franklin DynaTech VIP Fund                                                                    | 811-05583         |
| Putnam ESG High Yield ETF                                                                     | 811-23643         |
| ClearBridge Variable Mid Cap Portfolio                                                        | 811-21128         |
| Templeton Global Bond VIP Fund                                                                | 811-05583         |
| ClearBridge International Growth Fund                                                         | 811-22338         |
| Franklin Moderate Allocation Fund                                                             | 811-07851         |
| BrandywineGLOBAL - Global Opportuniites Bond Fund                                             | 811-22338         |
| Franklin Mutual Beacon Fund                                                                   | 811-05387         |
| Franklin LifeSmart 2035 Retirement Target Fund                                                | 811-07851         |
| Franklin Income Fund                                                                          | 811-00537         |
| Franklin Low Duration U.S. Government Securities Fund                                         | 811-04986         |
| Franklin Georgia Tax-Free Income Fund                                                         | 811-04149         |
| Franklin Gold and Precious Metals Fund                                                        | 811-01700         |
| Putnam Money Market Fund                                                                      | 811-02608         |
| Putnam Focused Equity Fund                                                                    | 811-07513         |
| ClearBridge Large Cap Value Fund                                                              | 811-06444         |
| Putnam VT George Putnam Balanced Fund                                                         | 811-05346         |
| Franklin LifeSmart 2040 Retirement Target Fund                                                | 811-07851         |
| BrandywineGLOBAL - High Yield Fund                                                            | 811-06444         |
| ClearBridge Small Cap Growth Fund                                                             | 811-06444         |
| Putnam VT Small Cap Value Fund                                                                | 811-05346         |
| Putnam VT High Yield Fund                                                                     | 811-05346         |
| ClearBridge Mid Cap Growth Fund                                                               | 811-06444         |
| Putnam VT Core Equity Fund (f/k/a Putnam VT Multi-Cap Core Fund)                              | 811-05346         |
| Franklin Templeton SMACS:  Series CH                                                          | 811-06243         |
| ClearBridge International Value Fund                                                          | 811-06444         |
| Franklin DynaTech Fund                                                                        | 811-00537         |
| Putnam VT Emerging Markets Equity Fund                                                        | 811-05346         |
| K2 Alternative Strategies Fund                                                                | 811-22641         |
| Putnam Dynamic Asset Allocation Growth Fund                                                   | 811-07121         |
| Franklin Small-Mid Cap Growth Fund                                                            | 811-06243         |
| Franklin Corefolio Allocation Fund                                                            | 811-07851         |
| Franklin Multi-Asset Variable Growth Fund                                                     | 811-21128         |
| Putnam New York Tax Exempt Income Fund                                                        | 811-03741         |
| Putnam Ultra Short Duration Income Fund                                                       | 811-07513         |
| Franklin Rising Dividends VIP Fund                                                            | 811-05583         |
| Putnam Focused International Equity Fund                                                      | 811-01403         |
| Putnam Focused Large Cap Value ETF                                                            | 811-23643         |
| Putnam VT Global Health Care Fund                                                             | 811-05346         |
| Franklin Templeton Moderate Model Portfolio                                                   | 811-21128         |
| Franklin Managed Income Fund                                                                  | 811-04986         |
| Franklin Alabama Tax-Free Income Fund                                                         | 811-04149         |
| Franklin Small-Mid Cap Growth VIP Fund                                                        | 811-05583         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund                                             | 811-22338         |
| Franklin Mutual Global Discovery VIP Fund                                                     | 811-05583         |
| Franklin Federal Limited-Term Tax-Free Income Fund                                            | 811-04149         |
| Western Asset New York Municipals Fund                                                        | 811-04254         |
| Franklin LifeSmart 2045 Retirement Target Fund                                                | 811-07851         |
| Templeton Foreign Fund                                                                        | 811-02781         |
| Franklin Colorado Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Multi-Asset Variable Conservative Growth Fund                                        | 811-21128         |
| Putnam Large Cap Growth Fund (f/k/a Putnam Growth Opportunities Fund)                         | 811-07237         |
| Franklin Global Equity Fund                                                                   | 811-06444         |
| Templeton Foreign VIP Fund                                                                    | 811-05583         |
| Franklin U.S. Government Securities VIP Fund                                                  | 811-05583         |
| Foreign Smaller Companies Series                                                              | 811-06135         |
| Putnam Intermediate-Term Municipal Income Fund                                                | 811-07513         |
| Putnam ESG Ultra Short ETF                                                                    | 811-23643         |
| Western Asset Bond ETF                                                                        | 811-23124         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund                                        | 811-22338         |
| Franklin Growth Fund                                                                          | 811-00537         |
| Franklin Multi-Asset Variable Moderate Growth Fund                                            | 811-21128         |
| ClearBridge Dividend Strategy Fund                                                            | 811-06444         |
| Western Asset Massachusetts Municipals Fund                                                   | 811-04254         |
| BrandywineGLOBAL - Corporate Credit Fund                                                      | 811-06444         |
| Putnam Sustainable Future Fund                                                                | 811-07237         |
| Franklin Growth Allocation Fund                                                               | 811-07851         |
| Franklin Core Plus Bond Fund                                                                  | 811-06243         |
| Putnam Small Cap Growth Fund                                                                  | 811-07513         |
| Franklin Long Duration Credit Fund                                                            | 811-04986         |
| Putnam VT Focused International Equity Fund                                                   | 811-05346         |
| Putnam Sustainable Leaders ETF                                                                | 811-23643         |
| Putnam BioRevolution ETF                                                                      | 811-23643         |
| Putnam Tax-Free High Yield Fund                                                               | 811-04345         |
| ClearBridge Small Cap Fund                                                                    | 811-22338         |
| Franklin Multi-Asset Moderate Growth Fund                                                     | 811-06444         |
| Putnam Global Income Trust                                                                    | 811-04524         |
| Franklin S&P 500 Index Fund                                                                   | 811-06444         |
| Putnam VT Diversified Income Fund                                                             | 811-05346         |
| Putnam Small Cap Value Fund                                                                   | 811-07237         |
| Putnam New Jersey Tax Exempt Income Fund                                                      | 811-05977         |
| George Putnam Balanced Fund                                                                   | 811-00058         |
| Templeton Growth VIP Fund                                                                     | 811-05583         |
| Western Asset New Jersey Municipals Fund                                                      | 811-04254         |
| Putnam Dynamic Asset Allocation Balanced Fund                                                 | 811-07121         |
| Putnam VT Government Money Market Fund                                                        | 811-05346         |
| Franklin Maryland Tax-Free Income Fund                                                        | 811-04149         |
| ClearBridge Variable Appreciation Portfolio                                                   | 811-21128         |
| Franklin International Growth Fund                                                            | 811-10157         |
| Putnam Tax Exempt Income Fund                                                                 | 811-02675         |
| Franklin Pennsylvania Tax-Free Income Fund                                                    | 811-04149         |
| Franklin Missouri Tax-Free Income Fund                                                        | 811-04149         |
| Putnam Mortgage Securities Fund                                                               | 811-03897         |
| Franklin Oregon Tax-Free Income Fund                                                          | 811-04149         |
| Franklin LifeSmart 2055 Retirement Target Fund                                                | 811-07851         |
| Putnam VT International Equity Fund                                                           | 811-05346         |
| Franklin Emerging Market Debt Opportunities Fund                                              | 811-10157         |
| Western Asset Core Plus Bond Fund                                                             | 811-06110         |
| Putnam VT Large Cap Growth Fund (f/k/a Putnam VT Growth Opportunities Fund)                   | 811-05346         |
| Putnam Ultra Short MAC Series                                                                 | 811-07513         |
| Franklin Multi-Asset Conservative Growth Fund                                                 | 811-06444         |
| Western Asset Intermediate Bond Fund                                                          | 811-06110         |
| Franklin Mutual Small-Mid Cap Value Fund                                                      | 811-05878         |
| ClearBridge Variable Growth Portfolio                                                         | 811-21128         |
| Franklin High Yield Corporate ETF                                                             | 811-23124         |
| Western Asset Pennsylvania Municipals Fund                                                    | 811-04254         |
| Western Asset Income Fund                                                                     | 811-04254         |
| Franklin New York Intermediate-Term Tax-Free Income Fund                                      | 811-04787         |
| Western Asset Core Plus VIT Portfolio                                                         | 811-06310         |
| Putnam Emerging Markets Ex-China ETF                                                          | 811-23643         |
| Franklin LifeSmart 2050 Retirement Target Fund                                                | 811-07851         |
| Franklin Convertible Securities Fund                                                          | 811-04986         |
| Western Asset Total Return ETF                                                                | 811-23096         |
| Putnam Ohio Tax Exempt Income Fund                                                            | 811-04528         |
| Putnam BDC Income ETF                                                                         | 811-23643         |
| Franklin LifeSmart 2060 Retirement Target Fund                                                | 811-07851         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 5 - Franklin Natural Resources Fund

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

- **a. Full Name of the Fund:** Franklin Natural Resources Fund

- **b. Series identification number, if any:** S000006887

- **c. LEI:** TCWS4YX3L8J5QHI4RW34

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 4

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class C                 | C000018647                                | FNCRX                        |
|                           2 | Class R6                | C000132949                                | FNCSX                        |
|                           3 | Advisor Class           | C000018649                                | FNRAX                        |
|                           4 | Class A                 | C000018648                                | FRNRX                        |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [x] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** Goldman Sachs Bank USA

- **ii. LEI, if any:** KD3XUN7C6T14HNAYLU02

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Advisers, Inc.

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

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $4,578,925.38

- **g. Provide the net income from securities lending activities:** $28,876.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

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

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

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

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

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

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

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

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

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

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

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

**Investment Advisers Record: 1**

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

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

- **iii. CRD number:** 000104517

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

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

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

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

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

**Transfer Agents Record: 1**

- **i. Full name:** FIS Investor Services, LLC /TA

- **ii. SEC file number:** 084-06522

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

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

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

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

**Transfer Agents Record: 2**

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

- **ii. SEC file number:** 084-01036

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

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

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

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** No

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

**Pricing Services Record: 1**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **Description of other identifying number:** LEI Number

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

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

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

**Pricing Services Record: 2**

- **i. Full name:** LSEG

- **ii. LEI, if any, or provide and describe other identifying number:** 2138007FV67QQ13CGJ43

- **Description of other identifying number:** LEI Number

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

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

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

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

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

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

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

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

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Self - rule 17f-2 (17 CFR 270.17f-2)

**Custodians Record: 2**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

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

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

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

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

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

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

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

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

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

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

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

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

**Administrators Record: 1**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

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

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

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

- **vi. Is the administrator a sub-administrator?:** Yes

**Administrators Record: 2**

- **i. Full name:** FRANKLIN TEMPLETON SERVICES, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

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

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

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** Franklin Templeton Financial Services Corp.

- **b. SEC file number:** 8-29504

- **c. CRD number:** 000013594

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

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

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

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

**Broker Dealers Record: 2**

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

- **b. SEC file number:** 8-5889

- **c. CRD number:** 000000332

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

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

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

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

**Broker Dealers Record: 3**

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

- **b. SEC file number:** 8-43206

- **c. CRD number:** 000027884

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

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

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

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

**Item C.16. Brokers.**

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

**Brokers Record: 1**

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

- **ii. SEC file number:** 8-15074

- **iii. CRD number:** 000002347

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $9,576.25

**Brokers Record: 2**

- **i. Full name of broker:** Rosenblatt Securities Inc.

- **ii. SEC file number:** 8-24255

- **iii. CRD number:** 000018377

- **iv. LEI, if any:** 549300KXQP6H4QO07E91

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $24,899.87

**Brokers Record: 3**

- **i. Full name of broker:** Merrill Lynch, Pierce, Fenner & Smith Inc.

- **ii. SEC file number:** 8-07221

- **iii. CRD number:** 000007691

- **iv. LEI, if any:** 8NAV47T0Y26Q87Y0QP81

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $5,564.54

**Brokers Record: 4**

- **i. Full name of broker:** Themis Trading LLC

- **ii. SEC file number:** 8-65260

- **iii. CRD number:** 000120116

- **iv. LEI, if any:** 254900T8WSH6UHUZKV29

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $6,080.25

**Brokers Record: 5**

- **i. Full name of broker:** ROBERT W. BAIRD & CO. INCORPORATED

- **ii. SEC file number:** 8-00497

- **iii. CRD number:** 000008158

- **iv. LEI, if any:** 549300772UJAHRD6LO53

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $7,002.18

**Brokers Record: 6**

- **i. Full name of broker:** Cowen and Company

- **ii. SEC file number:** 8-22522

- **iii. CRD number:** 000007616

- **iv. LEI, if any:** 549300WR155U7DVMIW58

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $6,345.74

**Brokers Record: 7**

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

- **ii. SEC file number:** 8-22651

- **iii. CRD number:** 000007654

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $4,636.88

**Brokers Record: 8**

- **i. Full name of broker:** RBC Capital Markets, LLC

- **ii. SEC file number:** 8-45411

- **iii. CRD number:** 000031194

- **iv. LEI, if any:** 549300LCO2FLSSVFFR64

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $32,444.04

**Brokers Record: 9**

- **i. Full name of broker:** Stifel, Nicolaus & Company, Incorporated

- **ii. SEC file number:** 8-01447

- **iii. CRD number:** 000000793

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $11,995.72

**Brokers Record: 10**

- **i. Full name of broker:** Citigroup Global Markets Inc.

- **ii. SEC file number:** 8-08177

- **iii. CRD number:** 000007059

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $16,235.59

**Aggregate Commission:** $168,294.95

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

| Name                                  | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| Fiduciary Trust Company International | N/A               | N/A          | N1YKEWO2IYPRS4742F57 | CA      | US        | $264,126.35               |
| Citigroup Global Markets Inc.         | 8-08177           | 000007059    | MBNUM2BPBDO7JBLYG310 | NY      | US        | $1,252,000.00             |
| HSBC Securities (USA) Inc.            | 8-41562           | 000019585    | CYYGQCGNHMHPSMRL3R97 | NY      | US        | $933,000.00               |
| J.P. Morgan Securities LLC            | 8-35008           | 000000079    | ZBUT11V806EZRVTWT807 | NY      | US        | $207,468,414.22           |
| Petra Capital PTY Ltd.                | N/A               | N/A          | N/A                  |  |  | $957,225.95               |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $210,874,766.52

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

- **Item C.19.a - Fund's monthly average net assets:** $339,777,584.51

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,995,000,000.00

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

  - **Line Institutions Record: 1 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 2 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 3 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 4 Name of institution:** MORGAN STANLEY SENIOR FUNDING, INC.

  - **Line Institutions Record: 5 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 6 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 7 Name of institution:** DEUTSCHE BANK SECURITIES INC.

  - **Line Institutions Record: 8 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 9 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 10 Name of institution:** STATE STREET BANK AND TRUST COMPANY

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                                                  | SEC File number   |
|:---|:---|
| Western Asset Intermediate Maturity California Municipals Fund                                | 811-04254         |
| Western Asset Ultra-Short Income Fund                                                         | 811-04254         |
| Putnam VT Global Asset Allocation Fund                                                        | 811-05346         |
| ClearBridge Large Cap Growth Fund                                                             | 811-06444         |
| Putnam Focused International Equity Fund                                                      | 811-01403         |
| ClearBridge International Growth Fund                                                         | 811-22338         |
| Putnam Core Equity Fund (f/k/a Putnam Multi-Cap Core Fund)                                    | 811-07513         |
| Putnam PanAgora ESG Emerging Markets Equity ETF                                               | 811-23643         |
| Putnam VT Global Health Care Fund                                                             | 811-05346         |
| Franklin Colorado Tax-Free Income Fund                                                        | 811-04149         |
| Franklin LifeSmart 2025 Retirement Target Fund                                                | 811-07851         |
| Putnam Intermediate-Term Municipal Income Fund                                                | 811-07513         |
| Franklin Michigan Tax-Free Income Fund                                                        | 811-04149         |
| Putnam Diversified Income Trust                                                               | 811-05635         |
| Franklin Missouri Tax-Free Income Fund                                                        | 811-04149         |
| Putnam Pennsylvania Tax Exempt Income Fund                                                    | 811-05802         |
| Western Asset SMASh Series M Fund                                                             | 811-06740         |
| Western Asset Managed Municipals Fund                                                         | 811-04254         |
| Franklin DynaTech Fund                                                                        | 811-00537         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund                                       | 811-04149         |
| Putnam Global Technology Fund                                                                 | 811-07513         |
| Franklin Strategic Income VIP Fund                                                            | 811-05583         |
| Putnam VT George Putnam Balanced Fund                                                         | 811-05346         |
| Franklin Small-Mid Cap Growth Fund                                                            | 811-06243         |
| Franklin S&P 500 Index Fund                                                                   | 811-06444         |
| ClearBridge Large Cap Value Fund                                                              | 811-06444         |
| Franklin Templeton SMACS:  Series I                                                           | 811-06243         |
| Western Asset New York Municipals Fund                                                        | 811-04254         |
| Putnam Strategic Intermediate Municipal Fund                                                  | 811-04345         |
| Martin Currie Emerging Markets Fund                                                           | 811-22338         |
| Western Asset Long Credit VIT                                                                 | 811-06310         |
| Franklin DynaTech VIP Fund                                                                    | 811-05583         |
| Franklin Large Cap Growth VIP Fund                                                            | 811-05583         |
| Franklin Connecticut Tax-Free Income Fund                                                     | 811-04149         |
| Western Asset Core Plus Bond Fund                                                             | 811-06110         |
| Putnam Dynamic Asset Allocation Balanced Fund                                                 | 811-07121         |
| Franklin Global Real Estate VIP Fund                                                          | 811-05583         |
| Putnam BDC Income ETF                                                                         | 811-23643         |
| Franklin LifeSmart 2060 Retirement Target Fund                                                | 811-07851         |
| Western Asset Oregon Municipals Fund                                                          | 811-04254         |
| Franklin Templeton Aggressive Model Portfolio                                                 | 811-21128         |
| Franklin Minnesota Tax-Free Income Fund                                                       | 811-04149         |
| Franklin Growth and Income VIP Fund                                                           | 811-05583         |
| ClearBridge Small Cap Fund                                                                    | 811-22338         |
| Putnam ESG High Yield ETF                                                                     | 811-23643         |
| Franklin Templeton SMACS:  Series CH                                                          | 811-06243         |
| Templeton Global Total Return Fund                                                            | 811-04706         |
| Franklin Gold and Precious Metals Fund                                                        | 811-01700         |
| Putnam Tax Exempt Income Fund                                                                 | 811-02675         |
| Putnam Short-Term Municipal Income Fund                                                       | 811-07513         |
| ClearBridge Variable Mid Cap Portfolio                                                        | 811-21128         |
| Putnam High Yield Fund                                                                        | 811-04616         |
| Western Asset New Jersey Municipals Fund                                                      | 811-04254         |
| Putnam Sustainable Leaders ETF                                                                | 811-23643         |
| Franklin Templeton SMACS:  Series H                                                           | 811-06243         |
| Franklin LifeSmart 2030 Retirement Target Fund                                                | 811-07851         |
| Franklin Mutual Global Discovery Fund                                                         | 811-05387         |
| Templeton World Fund                                                                          | 811-02781         |
| Putnam Mortgage Opportunities Fund                                                            | 811-07513         |
| Western Asset SMASh Series TF Fund                                                            | 811-06740         |
| International Equity Series                                                                   | 811-06135         |
| Putnam Dynamic Asset Allocation Conservative Fund                                             | 811-07121         |
| ClearBridge Growth Fund                                                                       | 811-06444         |
| ClearBridge Variable Large Cap Value Portfolio                                                | 811-21128         |
| Franklin Income Fund                                                                          | 811-00537         |
| ClearBridge Dividend Strategy Fund                                                            | 811-06444         |
| Putnam International Value Fund                                                               | 811-07513         |
| Franklin Federal Limited-Term Tax-Free Income Fund                                            | 811-04149         |
| Franklin Floating Rate Daily Access Fund                                                      | 811-04986         |
| ClearBridge Value Fund                                                                        | 811-22338         |
| Putnam VT Small Cap Value Fund                                                                | 811-05346         |
| Franklin Mutual Beacon Fund                                                                   | 811-05387         |
| Franklin Biotechnology Discovery Fund                                                         | 811-06243         |
| BrandywineGLOBAL - Global Opportuniites Bond Fund                                             | 811-22338         |
| Templeton Global Bond Fund                                                                    | 811-04706         |
| Franklin Templeton SMACS:  Series E                                                           | 811-06243         |
| Franklin Rising Dividends VIP Fund                                                            | 811-05583         |
| Franklin Maryland Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Small Cap Growth Fund                                                                | 811-06243         |
| Franklin LifeSmart 2045 Retirement Target Fund                                                | 811-07851         |
| Western Asset Municipal High Income Fund                                                      | 811-04254         |
| Templeton Foreign Fund                                                                        | 811-02781         |
| Putnam Massachusetts Tax Exempt Income Fund                                                   | 811-04518         |
| Franklin Emerging Market Debt Opportunities Fund                                              | 811-10157         |
| Western Asset Short-Term Bond Fund                                                            | 811-04254         |
| Martin Currie SMASh Series EM Fund                                                            | 811-22338         |
| Western Asset Income Fund                                                                     | 811-04254         |
| Franklin LifeSmart 2035 Retirement Target Fund                                                | 811-07851         |
| Franklin High Income Fund                                                                     | 811-01608         |
| ClearBridge Variable Dividend Strategy Portfolio                                              | 811-21128         |
| Western Asset Inflation Indexed Plus Bond Fund                                                | 811-06110         |
| Western Asset California Municipals Fund                                                      | 811-04254         |
| Putnam Sustainable Future Fund                                                                | 811-07237         |
| Putnam Sustainable Future ETF                                                                 | 811-23643         |
| Franklin Senior Loan ETF                                                                      | 811-23124         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund                                             | 811-22338         |
| Franklin Growth Fund                                                                          | 811-00537         |
| Franklin Income VIP Fund                                                                      | 811-05583         |
| Putnam VT Focused International Equity Fund                                                   | 811-05346         |
| Franklin Managed Income Fund                                                                  | 811-04986         |
| Franklin LifeSmart 2040 Retirement Target Fund                                                | 811-07851         |
| Franklin Mutual U.S. Mid Cap Value Fund                                                       | 811-05878         |
| K2 Alternative Strategies Fund                                                                | 811-22641         |
| ClearBridge Mid Cap Growth Fund                                                               | 811-06444         |
| Franklin Templeton Moderately Aggressive Model Portfolio                                      | 811-21128         |
| Franklin International Equity Fund (fka QS International Equity Fund)                         | 811-22338         |
| Franklin Federal Tax-Free Income Fund                                                         | 811-03395         |
| Putnam Emerging Markets Ex-China ETF                                                          | 811-23643         |
| Franklin Rising Dividends Fund                                                                | 811-04894         |
| Putnam Minnesota Tax Exempt Income Fund                                                       | 811-04527         |
| Franklin New York Tax-Free Income Fund                                                        | 811-03479         |
| BrandywineGLOBAL - Alternative Credit Fund                                                    | 811-22338         |
| ClearBridge Select Fund                                                                       | 811-06444         |
| Franklin U.S. Small Capitalization Equity Fund (fka QS U.S. Small Capitalization Equity Fund) | 811-22338         |
| BrandywineGLOBAL - Corporate Credit Fund                                                      | 811-06444         |
| Putnam VT Core Equity Fund (f/k/a Putnam VT Multi-Cap Core Fund)                              | 811-05346         |
| Putnam International Equity Fund                                                              | 811-06190         |
| Franklin Small Cap Value Fund                                                                 | 811-05878         |
| Western Asset Short Duration Income ETF                                                       | 811-23096         |
| Putnam Ultra Short Duration Income Fund                                                       | 811-07513         |
| Franklin Oregon Tax-Free Income Fund                                                          | 811-04149         |
| Franklin LifeSmart 2055 Retirement Target Fund                                                | 811-07851         |
| Putnam Dynamic Asset Allocation Growth Fund                                                   | 811-07121         |
| Putnam Core Bond Fund (f/k/a Putnam Fixed Income Absolute Return Fund)                        | 811-07513         |
| Putnam VT Emerging Markets Equity Fund                                                        | 811-05346         |
| Putnam VT International Equity Fund                                                           | 811-05346         |
| ClearBridge Mid Cap Fund                                                                      | 811-06444         |
| Franklin Georgia Tax-Free Income Fund                                                         | 811-04149         |
| Franklin U.S. Large Cap Equity Fund                                                           | 811-06444         |
| Putnam VT Large Cap Value Fund                                                                | 811-05346         |
| Putnam Ohio Tax Exempt Income Fund                                                            | 811-04528         |
| Putnam PanAgora ESG International Equity ETF                                                  | 811-23643         |
| George Putnam Balanced Fund                                                                   | 811-00058         |
| Franklin U.S. Government Securities VIP Fund                                                  | 811-05583         |
| Putnam Short Duration Bond Fund                                                               | 811-07513         |
| Putnam New Jersey Tax Exempt Income Fund                                                      | 811-05977         |
| Franklin Multi-Asset Defensive Growth Fund                                                    | 811-06444         |
| Putnam Focused Large Cap Growth ETF                                                           | 811-23643         |
| Franklin Low Duration Total Return Fund                                                       | 811-04986         |
| Franklin Moderate Allocation Fund                                                             | 811-07851         |
| Franklin Real Estate Securities Fund                                                          | 811-08034         |
| Franklin California Intermediate-Term Tax-Free Income Fund                                    | 811-04356         |
| Franklin Small Cap Value VIP Fund                                                             | 811-05583         |
| Franklin Mutual International Value Fund                                                      | 811-05387         |
| Putnam Large Cap Value Fund                                                                   | 811-02742         |
| Franklin Global Equity Fund                                                                   | 811-06444         |
| Franklin Arizona Tax-Free Income Fund                                                         | 811-04149         |
| Franklin Pennsylvania Tax-Free Income Fund                                                    | 811-04149         |
| Franklin North Carolina Tax-Free Income Fund                                                  | 811-04149         |
| Western Asset Pennsylvania Municipals Fund                                                    | 811-04254         |
| Franklin Core Plus Bond Fund                                                                  | 811-06243         |
| Putnam VT International Value Fund                                                            | 811-05346         |
| Franklin VolSmart Allocation VIP Fund                                                         | 811-05583         |
| Franklin Convertible Securities Fund                                                          | 811-04986         |
| Western Asset Short Duration Municipal Income Fund                                            | 811-04254         |
| ClearBridge Appreciation Fund                                                                 | 811-06444         |
| Franklin Templeton SMACS:  Series EM                                                          | 811-08226         |
| Putnam Small Cap Value Fund                                                                   | 811-07237         |
| Putnam Dynamic Asset Allocation Equity Fund                                                   | 811-07513         |
| ClearBridge Global Infrastructure Income Fund                                                 | 811-22338         |
| ClearBridge Variable Growth Portfolio                                                         | 811-21128         |
| Franklin Ohio Tax-Free Income Fund                                                            | 811-04149         |
| Franklin Corefolio Allocation Fund                                                            | 811-07851         |
| Franklin High Yield Corporate ETF                                                             | 811-23124         |
| Franklin International Growth Fund                                                            | 811-10157         |
| Putnam Focused Large Cap Value ETF                                                            | 811-23643         |
| Franklin Conservative Allocation Fund                                                         | 811-07851         |
| Putnam Mortgage Securities Fund                                                               | 811-03897         |
| Franklin Alabama Tax-Free Income Fund                                                         | 811-04149         |
| ClearBridge Variable Large Cap Growth Portfolio                                               | 811-21128         |
| Putnam Research Fund                                                                          | 811-07237         |
| Putnam Emerging Markets Equity Fund                                                           | 811-07513         |
| Templeton Global Bond VIP Fund                                                                | 811-05583         |
| Putnam Global Health Care Fund                                                                | 811-03386         |
| Franklin Allocation VIP Fund (f/k/a Franklin Founding Funds Allocation VIP Fund)              | 811-05583         |
| Putnam International Capital Opportunities Fund                                               | 811-07237         |
| ClearBridge Small Cap Growth Fund                                                             | 811-06444         |
| Western Asset Intermediate-Term Municipals Fund                                               | 811-04254         |
| Franklin Growth Allocation Fund                                                               | 811-07851         |
| ClearBridge Variable Small Cap Growth Portfolio                                               | 811-21128         |
| Western Asset Mortgage Total Return Fund                                                      | 811-04254         |
| Templeton Growth Fund, Inc.                                                                   | 811-04892         |
| ClearBridge Sustainability Leaders Fund                                                       | 811-06444         |
| Putnam Multi-Asset Income Fund                                                                | 811-07121         |
| Franklin California Tax-Free Income Fund                                                      | 811-02790         |
| Templeton Developing Markets Trust                                                            | 811-06378         |
| Franklin Mutual Shares VIP Fund                                                               | 811-05583         |
| Putnam VT Large Cap Growth Fund (f/k/a Putnam VT Growth Opportunities Fund)                   | 811-05346         |
| Putnam BioRevolution ETF                                                                      | 811-23643         |
| Foreign Smaller Companies Series                                                              | 811-06135         |
| Putnam Small Cap Growth Fund                                                                  | 811-07513         |
| Franklin New York Intermediate-Term Tax-Free Income Fund                                      | 811-04787         |
| BrandywineGLOBAL - Flexible Bond Fund                                                         | 811-22338         |
| Putnam VT Diversified Income Fund                                                             | 811-05346         |
| Putnam VT Sustainable Leaders Fund                                                            | 811-05346         |
| Templeton Sustainable Emerging Markets Bond Fund                                              | 811-04706         |
| Putnam Income Fund                                                                            | 811-00653         |
| Franklin LifeSmart 2050 Retirement Target Fund                                                | 811-07851         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund                                        | 811-22338         |
| Franklin Multi-Asset Conservative Growth Fund                                                 | 811-06444         |
| Franklin Low Duration U.S. Government Securities Fund                                         | 811-04986         |
| Franklin Total Return Fund                                                                    | 811-04986         |
| Franklin High Yield Tax-Free Income Fund                                                      | 811-04149         |
| Western Asset Core Bond Fund                                                                  | 811-06110         |
| Putnam Floating Rate Income Fund                                                              | 811-07513         |
| Putnam Money Market Fund                                                                      | 811-02608         |
| Western Asset SMASh Series Core Plus Completion                                               | 811-06740         |
| Franklin Long Duration Credit Fund                                                            | 811-04986         |
| Franklin Multi-Asset Variable Conservative Growth Fund                                        | 811-21128         |
| Franklin New Jersey Tax-Free Income Fund                                                      | 811-04149         |
| Franklin LifeSmart 2020 Retirement Target Fund                                                | 811-07851         |
| ClearBridge Variable Appreciation Portfolio                                                   | 811-21128         |
| Franklin Mutual Global Discovery VIP Fund                                                     | 811-05583         |
| Franklin U.S. Government Securities Fund                                                      | 811-00537         |
| Putnam Government Money Market Fund                                                           | 811-07237         |
| Western Asset Intermediate Bond Fund                                                          | 811-06110         |
| Putnam New York Tax Exempt Income Fund                                                        | 811-03741         |
| Franklin Floating Rate Master Series                                                          | 811-09869         |
| Templeton Developing Markets VIP Fund                                                         | 811-05583         |
| Western Asset Intermediate Maturity New York Municipals Fund                                  | 811-04254         |
| Putnam California Tax Exempt Income Fund                                                      | 811-03630         |
| Putnam Global Income Trust                                                                    | 811-04524         |
| Western Asset Bond ETF                                                                        | 811-23124         |
| Western Asset Short Duration High Income Fund                                                 | 811-04254         |
| Putnam VT Research Fund                                                                       | 811-05346         |
| Putnam VT Income Fund                                                                         | 811-05346         |
| ClearBridge International Value Fund                                                          | 811-06444         |
| Putnam VT Government Money Market Fund                                                        | 811-05346         |
| Western Asset SMASh Series Core Completion Fund                                               | 811-06740         |
| Western Asset Core Plus VIT Portfolio                                                         | 811-06310         |
| Franklin Multi-Asset Growth Fund                                                              | 811-06444         |
| Western Asset High Yield Fund                                                                 | 811-06110         |
| Western Asset SMASh Series C Fund                                                             | 811-06740         |
| Templeton Foreign VIP Fund                                                                    | 811-05583         |
| Western Asset Variable Global High Yield Bond Portfolio                                       | 811-06310         |
| ClearBridge Tactical Dividend Income Fund                                                     | 811-06444         |
| Franklin Templeton Conservative Model Portfolio                                               | 811-21128         |
| Franklin Global Allocation Fund                                                               | 811-07851         |
| Western Asset Total Return Unconstrained Fund                                                 | 811-06110         |
| Franklin Templeton Moderately Conservative Model Portfolio                                    | 811-21128         |
| BrandywineGLOBAL - High Yield Fund                                                            | 811-06444         |
| Franklin Multi-Asset Variable Growth Fund                                                     | 811-21128         |
| Franklin LifeSmart Retirement Income Fund                                                     | 811-07851         |
| Franklin Massachusetts Tax-Free Income Fund                                                   | 811-04149         |
| Franklin Equity Income Fund                                                                   | 811-04986         |
| Franklin Strategic Mortgage Portfolio                                                         | 811-07288         |
| Putnam Tax-Free High Yield Fund                                                               | 811-04345         |
| Franklin California High Yield Municipal Fund                                                 | 811-06481         |
| Putnam VT Mortgage Securities Fund                                                            | 811-05346         |
| Franklin Louisiana Tax-Free Income Fund                                                       | 811-04149         |
| Putnam VT Sustainable Future Fund                                                             | 811-05346         |
| Franklin Multi-Asset Moderate Growth Fund                                                     | 811-06444         |
| Putnam Ultra Short MAC Series                                                                 | 811-07513         |
| Putnam ESG Core Bond ETF                                                                      | 811-23643         |
| Templeton Growth VIP Fund                                                                     | 811-05583         |
| Templeton Global Balanced Fund                                                                | 811-08226         |
| Western Asset Massachusetts Municipals Fund                                                   | 811-04254         |
| Franklin Small-Mid Cap Growth VIP Fund                                                        | 811-05583         |
| Templeton International Bond Fund                                                             | 811-04706         |
| Putnam Sustainable Leaders Fund                                                               | 811-06128         |
| Putnam Large Cap Growth Fund (f/k/a Putnam Growth Opportunities Fund)                         | 811-07237         |
| Franklin Mutual Small-Mid Cap Value Fund                                                      | 811-05878         |
| Franklin Virginia Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Mutual Quest Fund                                                                    | 811-05387         |
| Putnam VT High Yield Fund                                                                     | 811-05346         |
| Templeton Global Smaller Companies Fund                                                       | 811-03143         |
| Franklin Multi-Asset Variable Moderate Growth Fund                                            | 811-21128         |
| Franklin Mutual Shares Fund                                                                   | 811-05387         |
| Western Asset Corporate Bond Fund                                                             | 811-04254         |
| Franklin Growth Opportunities Fund                                                            | 811-06243         |
| Putnam VT Small Cap Growth Fund                                                               | 811-05346         |
| Putnam ESG Ultra Short ETF                                                                    | 811-23643         |
| Franklin Utilities Fund                                                                       | 811-00537         |
| Putnam Focused Equity Fund                                                                    | 811-07513         |
| Western Asset Total Return ETF                                                                | 811-23096         |
| Franklin Templeton Moderate Model Portfolio                                                   | 811-21128         |
| Putnam Convertible Securities Fund                                                            | 811-02280         |
| Templeton Emerging Markets Small Cap Fund                                                     | 811-08226         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 6 - Franklin Core Plus Bond Fund

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

- **a. Full Name of the Fund:** Franklin Core Plus Bond Fund

- **b. Series identification number, if any:** S000006879

- **c. LEI:** BARXSKGYQTET593VHI21

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 5

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class C                 | C000018622                                | FSGCX                        |
|                           2 | Advisor Class           | C000018623                                | FKSAX                        |
|                           3 | Class R6                | C000128861                                | FGKNX                        |
|                           4 | Class A                 | C000018620                                | FRSTX                        |
|                           5 | Class R                 | C000018624                                | FKSRX                        |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [x] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** BNY Mellon

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

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Advisers, Inc.

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

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $552,791.32

- **g. Provide the net income from securities lending activities:** $43,758.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

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

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

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

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

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

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

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

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

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

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

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

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

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

**Investment Advisers Record: 1**

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

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

- **iii. CRD number:** 000104517

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

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

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

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

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

**Transfer Agents Record: 1**

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

- **ii. SEC file number:** 084-01036

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

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

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

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

**Transfer Agents Record: 2**

- **i. Full name:** FIS Investor Services, LLC /TA

- **ii. SEC file number:** 084-06522

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

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

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

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** Yes

- **b. Has a transfer agent been hired or terminated during the reporting period?** No

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

**Pricing Services Record: 1**

- **i. Full name:** Kroll, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 549300W01Z54L5RHPJ40

- **Description of other identifying number:** LEI Number

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

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

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

**Pricing Services Record: 2**

- **i. Full name:** LSEG

- **ii. LEI, if any, or provide and describe other identifying number:** 2138007FV67QQ13CGJ43

- **Description of other identifying number:** LEI Number

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

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

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

**Pricing Services Record: 3**

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

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

- **Description of other identifying number:** LEI Number

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

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

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

**Pricing Services Record: 4**

- **i. Full name:** IHS Markit Ltd.

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

- **Description of other identifying number:** LEI Number

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

**Pricing Services Record: 5**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **Description of other identifying number:** LEI Number

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

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

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

**Pricing Services Record: 6**

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

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

- **Description of other identifying number:** LEI Number

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

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

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

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

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

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

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

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 2**

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

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

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

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

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Self - rule 17f-2 (17 CFR 270.17f-2)

**Custodians Record: 3**

- **i. Full name:** Inspira Financial

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

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

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

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

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 4**

- **i. Full name:** LendingClub Bank, N.A.

- **ii. LEI, if any:** 549300DFPDZFD8DWQX71

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

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

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

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

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

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

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

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

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

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

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

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

**Administrators Record: 1**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

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

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

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

- **vi. Is the administrator a sub-administrator?:** Yes

**Administrators Record: 2**

- **i. Full name:** FRANKLIN TEMPLETON SERVICES, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

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

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

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

**Administrators Record: 3**

- **i. Full name:** US Bank National Association

- **ii. LEI, if any, or other identifying number:** 5493001WC5CQQI9L9G80

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

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

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

- **vi. Is the administrator a sub-administrator?:** Yes

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

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

- **b. SEC file number:** 8-5889

- **c. CRD number:** 000000332

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

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

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

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

**Broker Dealers Record: 2**

- **a. Full name:** Franklin Templeton Financial Services Corp.

- **b. SEC file number:** 8-29504

- **c. CRD number:** 000013594

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

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

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

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

**Broker Dealers Record: 3**

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

- **b. SEC file number:** 8-43206

- **c. CRD number:** 000027884

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

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

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

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

**Item C.16. Brokers.**

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

**Brokers Record: 1**

- **i. Full name of broker:** Cantor Fitzgerald & Co.

- **ii. SEC file number:** 8-00201

- **iii. CRD number:** 000000134

- **iv. LEI, if any:** 5493004J7H4GCPG6OB62

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $4,743.99

**Brokers Record: 2**

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

- **ii. SEC file number:** 8-35008

- **iii. CRD number:** 000000079

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

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $63,434.58

**Aggregate Commission:** $68,178.57

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

| Name                          | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| Barclays Capital, Inc.        | 8-41342           |    000019714 | AC28XWWI3WIBK2824319 | NY      | US        | $249,045,020.42           |
| J.P. Morgan Securities LLC    | 8-35008           |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $3,421,253,673.73         |
| Wells Fargo Securities, LLC   | 8-65876           |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $1,509,080,321.44         |
| BofA Securities, Inc.         | 8-69787           |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $2,547,466,851.28         |
| BNP Paribas Securities Corp.  | 8-32682           |    000015794 | RCNB6OTYUAMMP879YW96 | NY      | US        | $133,151,750.42           |
| HSBC Securities (USA) Inc.    | 8-41562           |    000019585 | CYYGQCGNHMHPSMRL3R97 | NY      | US        | $83,499,353.89            |
| Jefferies LLC                 | 8-15074           |    000002347 | 58PU97L1C0WSRCWADL48 | NY      | US        | $77,245,612.50            |
| Citigroup Global Markets Inc. | 8-08177           |    000007059 | MBNUM2BPBDO7JBLYG310 | NY      | US        | $189,443,151.24           |
| Goldman Sachs & Co. LLC       | 8-00129           |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $717,450,621.46           |
| Morgan Stanley & Co. LLC      | 8-15869           |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $1,139,070,328.59         |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $10,365,550,207.77

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

- **Item C.19.a - Fund's monthly average net assets:** $2,553,311,294.20

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,995,000,000.00

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

  - **Line Institutions Record: 1 Name of institution:** DEUTSCHE BANK SECURITIES INC.

  - **Line Institutions Record: 2 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 3 Name of institution:** THE BANK OF NEW YORK MELLON

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

  - **Line Institutions Record: 5 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 6 Name of institution:** GOLDMAN SACHS BANK USA

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

  - **Line Institutions Record: 8 Name of institution:** MORGAN STANLEY SENIOR FUNDING, INC.

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

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

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                                                  | SEC File number   |
|:---|:---|
| Putnam PanAgora ESG International Equity ETF                                                  | 811-23643         |
| Franklin California Tax-Free Income Fund                                                      | 811-02790         |
| Putnam VT Large Cap Growth Fund (f/k/a Putnam VT Growth Opportunities Fund)                   | 811-05346         |
| Putnam Ultra Short Duration Income Fund                                                       | 811-07513         |
| Western Asset Massachusetts Municipals Fund                                                   | 811-04254         |
| ClearBridge Large Cap Growth Fund                                                             | 811-06444         |
| Putnam High Yield Fund                                                                        | 811-04616         |
| Putnam Focused Equity Fund                                                                    | 811-07513         |
| Franklin Mutual Small-Mid Cap Value Fund                                                      | 811-05878         |
| Franklin California High Yield Municipal Fund                                                 | 811-06481         |
| BrandywineGLOBAL - Flexible Bond Fund                                                         | 811-22338         |
| ClearBridge Large Cap Value Fund                                                              | 811-06444         |
| Western Asset Core Plus VIT Portfolio                                                         | 811-06310         |
| Franklin Strategic Mortgage Portfolio                                                         | 811-07288         |
| Putnam VT Sustainable Leaders Fund                                                            | 811-05346         |
| Franklin Large Cap Growth VIP Fund                                                            | 811-05583         |
| ClearBridge Variable Growth Portfolio                                                         | 811-21128         |
| Western Asset Mortgage Total Return Fund                                                      | 811-04254         |
| Franklin Multi-Asset Variable Conservative Growth Fund                                        | 811-21128         |
| Franklin Real Estate Securities Fund                                                          | 811-08034         |
| Franklin California Intermediate-Term Tax-Free Income Fund                                    | 811-04356         |
| Western Asset Total Return ETF                                                                | 811-23096         |
| ClearBridge Tactical Dividend Income Fund                                                     | 811-06444         |
| Putnam VT Global Asset Allocation Fund                                                        | 811-05346         |
| Putnam Small Cap Value Fund                                                                   | 811-07237         |
| BrandywineGLOBAL - Alternative Credit Fund                                                    | 811-22338         |
| Franklin Pennsylvania Tax-Free Income Fund                                                    | 811-04149         |
| Franklin Global Equity Fund                                                                   | 811-06444         |
| Western Asset Variable Global High Yield Bond Portfolio                                       | 811-06310         |
| Putnam Dynamic Asset Allocation Balanced Fund                                                 | 811-07121         |
| Putnam Global Income Trust                                                                    | 811-04524         |
| Franklin Managed Income Fund                                                                  | 811-04986         |
| Franklin LifeSmart 2045 Retirement Target Fund                                                | 811-07851         |
| ClearBridge Sustainability Leaders Fund                                                       | 811-06444         |
| Franklin Mutual Shares Fund                                                                   | 811-05387         |
| Foreign Smaller Companies Series                                                              | 811-06135         |
| Franklin Low Duration U.S. Government Securities Fund                                         | 811-04986         |
| ClearBridge Mid Cap Fund                                                                      | 811-06444         |
| ClearBridge Dividend Strategy Fund                                                            | 811-06444         |
| Putnam California Tax Exempt Income Fund                                                      | 811-03630         |
| Franklin Multi-Asset Conservative Growth Fund                                                 | 811-06444         |
| Franklin U.S. Government Securities Fund                                                      | 811-00537         |
| Franklin DynaTech Fund                                                                        | 811-00537         |
| Putnam New York Tax Exempt Income Fund                                                        | 811-03741         |
| Franklin LifeSmart 2030 Retirement Target Fund                                                | 811-07851         |
| Templeton Global Smaller Companies Fund                                                       | 811-03143         |
| Western Asset New Jersey Municipals Fund                                                      | 811-04254         |
| Franklin Connecticut Tax-Free Income Fund                                                     | 811-04149         |
| BrandywineGLOBAL - Global Opportuniites Bond Fund                                             | 811-22338         |
| Putnam Dynamic Asset Allocation Equity Fund                                                   | 811-07513         |
| Putnam International Equity Fund                                                              | 811-06190         |
| Templeton International Bond Fund                                                             | 811-04706         |
| Martin Currie SMASh Series EM Fund                                                            | 811-22338         |
| Franklin Mutual International Value Fund                                                      | 811-05387         |
| Franklin Multi-Asset Variable Moderate Growth Fund                                            | 811-21128         |
| Franklin New Jersey Tax-Free Income Fund                                                      | 811-04149         |
| ClearBridge Appreciation Fund                                                                 | 811-06444         |
| Putnam Floating Rate Income Fund                                                              | 811-07513         |
| ClearBridge Small Cap Growth Fund                                                             | 811-06444         |
| Putnam Short-Term Municipal Income Fund                                                       | 811-07513         |
| Western Asset Corporate Bond Fund                                                             | 811-04254         |
| Franklin North Carolina Tax-Free Income Fund                                                  | 811-04149         |
| Putnam Government Money Market Fund                                                           | 811-07237         |
| Franklin LifeSmart 2055 Retirement Target Fund                                                | 811-07851         |
| Putnam VT International Value Fund                                                            | 811-05346         |
| Franklin Small Cap Growth Fund                                                                | 811-06243         |
| Western Asset Short Duration High Income Fund                                                 | 811-04254         |
| Franklin Templeton Aggressive Model Portfolio                                                 | 811-21128         |
| Western Asset Total Return Unconstrained Fund                                                 | 811-06110         |
| Franklin International Equity Fund (fka QS International Equity Fund)                         | 811-22338         |
| Putnam Short Duration Bond Fund                                                               | 811-07513         |
| Putnam Large Cap Value Fund                                                                   | 811-02742         |
| Franklin Equity Income Fund                                                                   | 811-04986         |
| Franklin Income Fund                                                                          | 811-00537         |
| Templeton Sustainable Emerging Markets Bond Fund                                              | 811-04706         |
| Franklin Missouri Tax-Free Income Fund                                                        | 811-04149         |
| Templeton Developing Markets Trust                                                            | 811-06378         |
| ClearBridge International Growth Fund                                                         | 811-22338         |
| Templeton Emerging Markets Small Cap Fund                                                     | 811-08226         |
| Western Asset Short-Term Bond Fund                                                            | 811-04254         |
| Franklin Mutual Shares VIP Fund                                                               | 811-05583         |
| Putnam Dynamic Asset Allocation Growth Fund                                                   | 811-07121         |
| Franklin Long Duration Credit Fund                                                            | 811-04986         |
| Franklin Maryland Tax-Free Income Fund                                                        | 811-04149         |
| Western Asset SMASh Series Core Completion Fund                                               | 811-06740         |
| Templeton Global Bond VIP Fund                                                                | 811-05583         |
| Western Asset SMASh Series TF Fund                                                            | 811-06740         |
| Franklin Small-Mid Cap Growth Fund                                                            | 811-06243         |
| Putnam VT Emerging Markets Equity Fund                                                        | 811-05346         |
| Franklin International Growth Fund                                                            | 811-10157         |
| Western Asset Intermediate Maturity New York Municipals Fund                                  | 811-04254         |
| Franklin LifeSmart 2050 Retirement Target Fund                                                | 811-07851         |
| Franklin Mutual Global Discovery VIP Fund                                                     | 811-05583         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund                                        | 811-22338         |
| Franklin Arizona Tax-Free Income Fund                                                         | 811-04149         |
| Franklin S&P 500 Index Fund                                                                   | 811-06444         |
| Western Asset Inflation Indexed Plus Bond Fund                                                | 811-06110         |
| Franklin Small Cap Value Fund                                                                 | 811-05878         |
| ClearBridge Global Infrastructure Income Fund                                                 | 811-22338         |
| George Putnam Balanced Fund                                                                   | 811-00058         |
| Franklin Corefolio Allocation Fund                                                            | 811-07851         |
| Putnam VT High Yield Fund                                                                     | 811-05346         |
| Putnam Pennsylvania Tax Exempt Income Fund                                                    | 811-05802         |
| Putnam Global Technology Fund                                                                 | 811-07513         |
| Putnam Sustainable Leaders Fund                                                               | 811-06128         |
| Putnam Intermediate-Term Municipal Income Fund                                                | 811-07513         |
| Templeton Foreign Fund                                                                        | 811-02781         |
| Franklin Templeton SMACS:  Series I                                                           | 811-06243         |
| Putnam New Jersey Tax Exempt Income Fund                                                      | 811-05977         |
| Franklin Global Allocation Fund                                                               | 811-07851         |
| Putnam VT Global Health Care Fund                                                             | 811-05346         |
| Putnam VT Focused International Equity Fund                                                   | 811-05346         |
| Putnam Core Bond Fund (f/k/a Putnam Fixed Income Absolute Return Fund)                        | 811-07513         |
| ClearBridge International Value Fund                                                          | 811-06444         |
| Putnam Convertible Securities Fund                                                            | 811-02280         |
| Putnam Massachusetts Tax Exempt Income Fund                                                   | 811-04518         |
| Franklin Rising Dividends Fund                                                                | 811-04894         |
| ClearBridge Select Fund                                                                       | 811-06444         |
| Franklin Income VIP Fund                                                                      | 811-05583         |
| Western Asset SMASh Series C Fund                                                             | 811-06740         |
| ClearBridge Variable Small Cap Growth Portfolio                                               | 811-21128         |
| Franklin LifeSmart 2060 Retirement Target Fund                                                | 811-07851         |
| ClearBridge Value Fund                                                                        | 811-22338         |
| Franklin New York Intermediate-Term Tax-Free Income Fund                                      | 811-04787         |
| Western Asset New York Municipals Fund                                                        | 811-04254         |
| Putnam Emerging Markets Equity Fund                                                           | 811-07513         |
| Putnam Focused Large Cap Growth ETF                                                           | 811-23643         |
| Templeton World Fund                                                                          | 811-02781         |
| Putnam VT Research Fund                                                                       | 811-05346         |
| Putnam Global Health Care Fund                                                                | 811-03386         |
| ClearBridge Variable Large Cap Growth Portfolio                                               | 811-21128         |
| Putnam Focused Large Cap Value ETF                                                            | 811-23643         |
| Putnam BDC Income ETF                                                                         | 811-23643         |
| Putnam Emerging Markets Ex-China ETF                                                          | 811-23643         |
| Western Asset California Municipals Fund                                                      | 811-04254         |
| Putnam Multi-Asset Income Fund                                                                | 811-07121         |
| Franklin Gold and Precious Metals Fund                                                        | 811-01700         |
| Putnam VT Small Cap Value Fund                                                                | 811-05346         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund                                       | 811-04149         |
| Templeton Global Bond Fund                                                                    | 811-04706         |
| ClearBridge Mid Cap Growth Fund                                                               | 811-06444         |
| Franklin Global Real Estate VIP Fund                                                          | 811-05583         |
| Putnam VT Small Cap Growth Fund                                                               | 811-05346         |
| Putnam Mortgage Securities Fund                                                               | 811-03897         |
| Putnam Tax Exempt Income Fund                                                                 | 811-02675         |
| Franklin Multi-Asset Defensive Growth Fund                                                    | 811-06444         |
| Franklin Oregon Tax-Free Income Fund                                                          | 811-04149         |
| Putnam Dynamic Asset Allocation Conservative Fund                                             | 811-07121         |
| Western Asset Intermediate Bond Fund                                                          | 811-06110         |
| Franklin Convertible Securities Fund                                                          | 811-04986         |
| Western Asset Short Duration Municipal Income Fund                                            | 811-04254         |
| Putnam Ohio Tax Exempt Income Fund                                                            | 811-04528         |
| Franklin Federal Limited-Term Tax-Free Income Fund                                            | 811-04149         |
| Franklin Utilities Fund                                                                       | 811-00537         |
| Western Asset Intermediate Maturity California Municipals Fund                                | 811-04254         |
| Franklin VolSmart Allocation VIP Fund                                                         | 811-05583         |
| Franklin Michigan Tax-Free Income Fund                                                        | 811-04149         |
| Western Asset Ultra-Short Income Fund                                                         | 811-04254         |
| Franklin Allocation VIP Fund (f/k/a Franklin Founding Funds Allocation VIP Fund)              | 811-05583         |
| Franklin Georgia Tax-Free Income Fund                                                         | 811-04149         |
| Franklin U.S. Small Capitalization Equity Fund (fka QS U.S. Small Capitalization Equity Fund) | 811-22338         |
| Franklin Small Cap Value VIP Fund                                                             | 811-05583         |
| Franklin Louisiana Tax-Free Income Fund                                                       | 811-04149         |
| Franklin Templeton SMACS:  Series EM                                                          | 811-08226         |
| Western Asset Intermediate-Term Municipals Fund                                               | 811-04254         |
| Franklin Floating Rate Daily Access Fund                                                      | 811-04986         |
| ClearBridge Variable Appreciation Portfolio                                                   | 811-21128         |
| Putnam Diversified Income Trust                                                               | 811-05635         |
| Templeton Global Balanced Fund                                                                | 811-08226         |
| Franklin Emerging Market Debt Opportunities Fund                                              | 811-10157         |
| Franklin Strategic Income VIP Fund                                                            | 811-05583         |
| Franklin Templeton Conservative Model Portfolio                                               | 811-21128         |
| Putnam VT International Equity Fund                                                           | 811-05346         |
| Franklin Mutual U.S. Mid Cap Value Fund                                                       | 811-05878         |
| Franklin Floating Rate Master Series                                                          | 811-09869         |
| Western Asset Municipal High Income Fund                                                      | 811-04254         |
| ClearBridge Variable Dividend Strategy Portfolio                                              | 811-21128         |
| Franklin LifeSmart Retirement Income Fund                                                     | 811-07851         |
| Franklin Massachusetts Tax-Free Income Fund                                                   | 811-04149         |
| Franklin U.S. Large Cap Equity Fund                                                           | 811-06444         |
| Franklin LifeSmart 2025 Retirement Target Fund                                                | 811-07851         |
| Putnam VT Government Money Market Fund                                                        | 811-05346         |
| Franklin Templeton SMACS:  Series CH                                                          | 811-06243         |
| Franklin Mutual Global Discovery Fund                                                         | 811-05387         |
| Putnam VT George Putnam Balanced Fund                                                         | 811-05346         |
| Western Asset Short Duration Income ETF                                                       | 811-23096         |
| Templeton Developing Markets VIP Fund                                                         | 811-05583         |
| Templeton Foreign VIP Fund                                                                    | 811-05583         |
| Putnam BioRevolution ETF                                                                      | 811-23643         |
| Putnam VT Sustainable Future Fund                                                             | 811-05346         |
| Franklin DynaTech VIP Fund                                                                    | 811-05583         |
| Franklin Rising Dividends VIP Fund                                                            | 811-05583         |
| Franklin Growth and Income VIP Fund                                                           | 811-05583         |
| Franklin Mutual Beacon Fund                                                                   | 811-05387         |
| Putnam VT Core Equity Fund (f/k/a Putnam VT Multi-Cap Core Fund)                              | 811-05346         |
| BrandywineGLOBAL - Corporate Credit Fund                                                      | 811-06444         |
| Western Asset Pennsylvania Municipals Fund                                                    | 811-04254         |
| Franklin Moderate Allocation Fund                                                             | 811-07851         |
| Putnam Strategic Intermediate Municipal Fund                                                  | 811-04345         |
| Western Asset Managed Municipals Fund                                                         | 811-04254         |
| Western Asset Income Fund                                                                     | 811-04254         |
| Franklin Growth Opportunities Fund                                                            | 811-06243         |
| Putnam ESG High Yield ETF                                                                     | 811-23643         |
| Franklin High Yield Tax-Free Income Fund                                                      | 811-04149         |
| Western Asset Long Credit VIT                                                                 | 811-06310         |
| Franklin Mutual Quest Fund                                                                    | 811-05387         |
| Putnam ESG Ultra Short ETF                                                                    | 811-23643         |
| Putnam Income Fund                                                                            | 811-00653         |
| Western Asset Core Bond Fund                                                                  | 811-06110         |
| Franklin Senior Loan ETF                                                                      | 811-23124         |
| Franklin Low Duration Total Return Fund                                                       | 811-04986         |
| Franklin Biotechnology Discovery Fund                                                         | 811-06243         |
| Franklin Templeton SMACS:  Series E                                                           | 811-06243         |
| Putnam Sustainable Future ETF                                                                 | 811-23643         |
| Franklin Multi-Asset Growth Fund                                                              | 811-06444         |
| Western Asset Core Plus Bond Fund                                                             | 811-06110         |
| Putnam Sustainable Future Fund                                                                | 811-07237         |
| Western Asset Oregon Municipals Fund                                                          | 811-04254         |
| Putnam International Value Fund                                                               | 811-07513         |
| Putnam Ultra Short MAC Series                                                                 | 811-07513         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund                                             | 811-22338         |
| Franklin Templeton SMACS:  Series H                                                           | 811-06243         |
| BrandywineGLOBAL - High Yield Fund                                                            | 811-06444         |
| Putnam Research Fund                                                                          | 811-07237         |
| Putnam VT Income Fund                                                                         | 811-05346         |
| Putnam International Capital Opportunities Fund                                               | 811-07237         |
| Franklin Templeton Moderate Model Portfolio                                                   | 811-21128         |
| ClearBridge Variable Mid Cap Portfolio                                                        | 811-21128         |
| Putnam Money Market Fund                                                                      | 811-02608         |
| Putnam ESG Core Bond ETF                                                                      | 811-23643         |
| Franklin Colorado Tax-Free Income Fund                                                        | 811-04149         |
| Putnam Mortgage Opportunities Fund                                                            | 811-07513         |
| Franklin LifeSmart 2035 Retirement Target Fund                                                | 811-07851         |
| Putnam VT Diversified Income Fund                                                             | 811-05346         |
| Templeton Global Total Return Fund                                                            | 811-04706         |
| Putnam VT Mortgage Securities Fund                                                            | 811-05346         |
| Putnam VT Large Cap Value Fund                                                                | 811-05346         |
| Putnam Sustainable Leaders ETF                                                                | 811-23643         |
| Franklin Small-Mid Cap Growth VIP Fund                                                        | 811-05583         |
| Western Asset High Yield Fund                                                                 | 811-06110         |
| Western Asset SMASh Series M Fund                                                             | 811-06740         |
| Franklin New York Tax-Free Income Fund                                                        | 811-03479         |
| Putnam PanAgora ESG Emerging Markets Equity ETF                                               | 811-23643         |
| Franklin Virginia Tax-Free Income Fund                                                        | 811-04149         |
| Putnam Small Cap Growth Fund                                                                  | 811-07513         |
| Franklin LifeSmart 2020 Retirement Target Fund                                                | 811-07851         |
| Franklin High Yield Corporate ETF                                                             | 811-23124         |
| Franklin Natural Resources Fund                                                               | 811-06243         |
| Martin Currie Emerging Markets Fund                                                           | 811-22338         |
| Putnam Tax-Free High Yield Fund                                                               | 811-04345         |
| International Equity Series                                                                   | 811-06135         |
| ClearBridge Small Cap Fund                                                                    | 811-22338         |
| Templeton Growth Fund, Inc.                                                                   | 811-04892         |
| Franklin U.S. Government Securities VIP Fund                                                  | 811-05583         |
| Western Asset Bond ETF                                                                        | 811-23124         |
| Western Asset SMASh Series Core Plus Completion                                               | 811-06740         |
| Franklin Templeton Moderately Aggressive Model Portfolio                                      | 811-21128         |
| K2 Alternative Strategies Fund                                                                | 811-22641         |
| Putnam Minnesota Tax Exempt Income Fund                                                       | 811-04527         |
| Putnam Large Cap Growth Fund (f/k/a Putnam Growth Opportunities Fund)                         | 811-07237         |
| Franklin High Income Fund                                                                     | 811-01608         |
| Franklin Multi-Asset Moderate Growth Fund                                                     | 811-06444         |
| ClearBridge Variable Large Cap Value Portfolio                                                | 811-21128         |
| Franklin LifeSmart 2040 Retirement Target Fund                                                | 811-07851         |
| Putnam Core Equity Fund (f/k/a Putnam Multi-Cap Core Fund)                                    | 811-07513         |
| Franklin Total Return Fund                                                                    | 811-04986         |
| Putnam Focused International Equity Fund                                                      | 811-01403         |
| Franklin Alabama Tax-Free Income Fund                                                         | 811-04149         |
| Franklin Conservative Allocation Fund                                                         | 811-07851         |
| Franklin Federal Tax-Free Income Fund                                                         | 811-03395         |
| Franklin Minnesota Tax-Free Income Fund                                                       | 811-04149         |
| Franklin Growth Allocation Fund                                                               | 811-07851         |
| ClearBridge Growth Fund                                                                       | 811-06444         |
| Franklin Multi-Asset Variable Growth Fund                                                     | 811-21128         |
| Templeton Growth VIP Fund                                                                     | 811-05583         |
| Franklin Growth Fund                                                                          | 811-00537         |
| Franklin Ohio Tax-Free Income Fund                                                            | 811-04149         |
| Franklin Templeton Moderately Conservative Model Portfolio                                    | 811-21128         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

## N-CEN: Part G: Attachments

**Item G.1a. Attachments.**

Attachments applicable to all Registrants. All Registrants shall file the following attachments, as applicable, with the current report. Indicate the attachments filed with the current report by checking the applicable items below:

- [ ] i. Legal proceedings

- [ ] ii. Provision of financial support

- [x] iii. Independent public accountant's report on internal control (management investment companies other than small business investment companies only)

- [ ] iv. Change in accounting principles and practices

- [ ] v. Information required to be filed pursuant to exemptive orders

- [ ] vi. Other information required to be included as an attachment pursuant to Commission rules and regulations

## N-CEN: Signature

Pursuant to the requirements of the Investment Company Act of 1940, the Registrant has duly caused this report to a be signed on its behalf by the undersigned hereunto duly authorized.

**Registrant:** FRANKLIN STRATEGIC SERIES

**Date:** 2025-04-30

**Signature:** Monica Krogh

**Title:** Assistant Treasurer