# EDGAR Filing Document

**Accession Number:** 0000872625
**File Stem:** 0002071691-25-009325
**Filing Date:** 2025-12
**Character Count:** 39866
**Document Hash:** 932e77f86b04e4b724a65d974d4a5897
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-009325.hdr.sgml**: 20251223

**ACCESSION NUMBER**: 0002071691-25-009325

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251223

**DATE AS OF CHANGE**: 20251223

**PERIOD START**: 20260430

**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:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06243
- **FILM NUMBER:** 251595223

**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 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           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Franklin Strategic Series

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

- **c. CIK number of Registrant:** 0000872625

- **d. LEI of Registrant:** 549300NDWC0J6DXVSX36

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

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

  - **City:** San Mateo

  - **State:** CA

  - **Foreign country:** US

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

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

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

- **a. Name of Series:** Franklin Natural Resources Fund

- **b. EDGAR series identifier (if any):** S000006887

- **c. LEI of Series:** TCWS4YX3L8J5QHI4RW34

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

- **a. Date of fiscal year-end:** 2026-04-30

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $371426847.85

**Total Liabilities:** $14848359.32

**Net Assets:** $356578488.53

**Cash Not Reported:** $107328.19

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000018649 | 6.92%                | 4.35%                | -0.83%               |
| Class ID C000018648 | 6.90%                | 4.31%                | -0.84%               |
| Class ID C000018647 | 6.85%                | 4.24%                | -0.89%               |
| Class ID C000132949 | 6.95%                | 4.34%                | -0.79%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $102842.91               | $21203683.76                               |
| Month 2  | $174101.47               | $14065955.68                               |
| Month 3  | $337343.06               | $-3268189.48                               |

### Schedule of Portfolio Investments

| Name                                                     | Title                                                    | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Shell plc                                                | Shell plc                                                | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |     90900 | NS      | $6810228.00   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp.                                        | Exxon Mobil Corp.                                        | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    143106 | NS      | $16365602.16  | 4.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Valero Energy Corp.                                      | Valero Energy Corp.                                      | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |     26600 | NS      | $4510296.00   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Natural Resources Ltd.                          | Canadian Natural Resources Ltd.                          | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |    204200 | NS      | $6532711.13   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp.                                  | Permian Resources Corp., Class A                         | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |    146500 | NS      | $1840040.00   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Tourmaline Oil Corp.                                     | Tourmaline Oil Corp.                                     | CUSIP: 89156V106<br>LEI: 894500I7AXG91VB3PM28 | Long             | EC               | CORP              | CA        |     41600 | NS      | $1829741.54   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Ovintiv, Inc.                                            | Ovintiv, Inc.                                            | CUSIP: 69047Q102<br>LEI: 2549003MEX7YMKLGI239 | Long             | EC               | CORP              | US        |     60800 | NS      | $2280608.00   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Xylem, Inc.                                              | Xylem, Inc.                                              | CUSIP: 98419M100<br>LEI: 549300DF5MV96DRYLQ48 | Long             | EC               | CORP              | US        |     18500 | NS      | $2790725.00   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Antofagasta plc                                          | Antofagasta plc                                          | CUSIP: N/A<br>LEI: 213800MY6QVH4FVLD628       | Long             | EC               | CORP              | GB        |    129600 | NS      | $4756627.66   | 1.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                               | Occidental Petroleum Corp.                               | CUSIP: 674599162<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             |  | CORP              | US        |     17900 | NS      | $347618.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC plc                                           | TechnipFMC plc                                           | CUSIP: N/A<br>LEI: 549300D5I93QWCJTCK36       | Long             | EC               | CORP              | GB        |     92600 | NS      | $3829010.00   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadeler A/S                                              | Cadeler A/S                                              | CUSIP: 12738K109<br>LEI: 9845008439EUED140282 | Long             | EC               | CORP              | DK        |     90424 | NS      | $1675556.72   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Solaris Energy Infrastructure, Inc.                      | Solaris Energy Infrastructure, Inc., Class A             | CUSIP: 83418M103<br>LEI: 529900MTK3C8Y8TIIC10 | Long             | EC               | CORP              | US        |     25400 | NS      | $1352042.00   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips 66                                              | Phillips 66                                              | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |     46300 | NS      | $6303282.00   | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Vale SA                                                  | Vale SA, Class B                                         | CUSIP: 91912E105<br>LEI: 254900SMTWBX7RU2SR20 | Long             | EC               | CORP              | BR        |    199400 | NS      | $2410746.00   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova, Inc.                                         | GE Vernova, Inc.                                         | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |      4000 | NS      | $2340560.00   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Trican Well Service Ltd.                                 | Trican Well Service Ltd.                                 | CUSIP: 895945103<br>LEI: 5493003PMAE3KEW1DL91 | Long             | EC               | CORP              | CA        |    249600 | NS      | $934298.24    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Cactus, Inc.                                             | Cactus, Inc., Class A                                    | CUSIP: 127203107<br>LEI: 549300J3T8C9F8QFKV08 | Long             | EC               | CORP              | US        |     37000 | NS      | $1634290.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| B2Gold Corp.                                             | B2Gold Corp.                                             | CUSIP: 11777QAC4<br>LEI: 549300F7OK456M5NLM05 | Long             | DBT              | CORP              | CA        |    933000 | PA      | $1453847.25   | 0.41%             | 2030-02-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Cheniere Energy, Inc.                                    | Cheniere Energy, Inc.                                    | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |     16300 | NS      | $3455600.00   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Capstone Copper Corp.                                    | Capstone Copper Corp.                                    | CUSIP: 14071L108<br>LEI: 549300III6KGKKC42W63 | Long             | EC               | CORP              | CA        |    495300 | NS      | $4421343.98   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Redwood Materials, Inc.                                  | Redwood Materials, Inc., Series E                        | CUSIP: N/A<br>LEI: 5493008UYCX7OTNK6D78       | Long             | EC               | CORP              | US        |     39802 | NS      | $1899982.70   | 0.53%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Glencore plc                                             | Glencore plc                                             | CUSIP: N/A<br>LEI: 2138002658CPO9NBH955       | Long             | EC               | CORP              | JE        |    313300 | NS      | $1500885.42   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Lindian Resources Ltd.                                   | Lindian Resources Ltd.                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |   5933452 | NS      | $1261733.73   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp.                                            | Newmont Corp.                                            | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |    181400 | NS      | $14687958.00  | 4.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Ranger Energy Services, Inc.                             | Ranger Energy Services, Inc., Class A                    | CUSIP: 75282U104<br>LEI: 549300J7RIVGVAN0RE23 | Long             | EC               | CORP              | US        |      1114 | NS      | $15306.36     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Cos., Inc. (The)                                | Williams Cos., Inc. (The)                                | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |     75900 | NS      | $4392333.00   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrick Mining Corp.                                     | Barrick Mining Corp.                                     | CUSIP: 06849F108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |    358500 | NS      | $11758800.00  | 3.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutrien Ltd.                                             | Nutrien Ltd.                                             | CUSIP: 67077M108<br>LEI: 5493002QQ7GD21OWF963 | Long             | EC               | CORP              | CA        |     98500 | NS      | $5363325.00   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntsman Corp.                                           | Huntsman Corp.                                           | CUSIP: 447011107<br>LEI: 5299000V56320A7RIQ67 | Long             | EC               | CORP              | US        |     64100 | NS      | $530748.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Tamboran Resources Corp.                                 | Tamboran Resources Corp.                                 | CUSIP: 87507T101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     45074 | NS      | $1116933.72   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan, Inc.                                   | Freeport-McMoRan, Inc.                                   | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |    166200 | NS      | $6930540.00   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Albemarle Corp.                                          | Albemarle Corp.                                          | CUSIP: 012653200<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | EP               | CORP              | US        |     30800 | NS      | $1362284.00   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Enbridge, Inc.                                           | Enbridge, Inc.                                           | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               | CORP              | CA        |     64300 | NS      | $2997666.00   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Corteva, Inc.                                            | Corteva, Inc.                                            | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |    114300 | NS      | $7022592.00   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Hudbay Minerals, Inc.                                    | Hudbay Minerals, Inc.                                    | CUSIP: 443628102<br>LEI: 894500LX3TMESP27BE29 | Long             | EC               | CORP              | CA        |    167500 | NS      | $2684681.47   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Dollar                                          | Canadian Dollar                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | CA        |     75357 | OU      | $53728.37     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Ranger Energy Services, Inc.                             | Ranger Energy Services, Inc., Class A                    | CUSIP: 75282U104<br>LEI: 549300J7RIVGVAN0RE23 | Long             | EC               | CORP              | US        |     67686 | NS      | $930005.64    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Teck Resources Ltd.                                      | Teck Resources Ltd., Class B                             | CUSIP: 878742204<br>LEI: T8KI5SQ2JRWHL7XY0E11 | Long             | EC               | CORP              | CA        |    133200 | NS      | $5716944.00   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Products and Chemicals, Inc.                         | Air Products and Chemicals, Inc.                         | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |     26700 | NS      | $6477153.00   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamos Gold, Inc.                                        | Alamos Gold, Inc., Class A                               | CUSIP: 011532108<br>LEI: 894500GIHFJZW7YS9660 | Long             | EC               | CORP              | CA        |    192900 | NS      | $5947022.21   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Neo Performance Materials, Inc.                          | Neo Performance Materials, Inc.                          | CUSIP: N/A<br>LEI: 984500E2A5I396CB6D96       | Long             | EC               | CORP              | CA        |     85000 | NS      | $1172079.43   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Co.                                    | Matador Resources Co.                                    | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |     59700 | NS      | $2355762.00   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Oil States International, Inc.                           | Oil States International, Inc.                           | CUSIP: 678026AK1<br>LEI: 5493004TF4KQJGMYL777 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1200000.00   | 0.34%             | 2026-04-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Aclara Resources, Inc.                                   | Aclara Resources, Inc.                                   | CUSIP: 00461M103<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    321000 | NS      | $727802.93    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Ball Corp.                                               | Ball Corp.                                               | CUSIP: 058498106<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | EC               | CORP              | US        |     36600 | NS      | $1720200.00   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| SLB Ltd.                                                 | SLB Ltd.                                                 | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |    135500 | NS      | $4886130.00   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| IperionX Ltd.                                            | IperionX Ltd.                                            | CUSIP: N/A<br>LEI: 98450096B1C9E094C832       | Long             | EC               | CORP              | AU        |    618700 | NS      | $2747133.87   | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Aker BP ASA                                              | Aker BP ASA                                              | CUSIP: N/A<br>LEI: 549300NFTY73920OYK69       | Long             | EC               | CORP              | NO        |     91900 | NS      | $2381765.82   | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| EQT Corp.                                                | EQT Corp.                                                | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |     80500 | NS      | $4313190.00   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp.                                            | Chevron Corp.                                            | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     83340 | NS      | $13144384.80  | 3.69%             |  |  |  | No            |                  1 | On Loan: No      |
| TC Energy Corp.                                          | TC Energy Corp.                                          | CUSIP: 87807B107<br>LEI: 549300UGKOFV2IWJJG27 | Long             | EC               | CORP              | CA        |    104300 | NS      | $5231688.00   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Halliburton Co.                                          | Halliburton Co.                                          | CUSIP: 406216101<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | EC               | CORP              | US        |     75300 | NS      | $2021052.00   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                                         | TotalEnergies SE                                         | CUSIP: 89151E109<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |     63100 | NS      | $3927344.00   | 1.10%             |  |  |  | No            |                  1 | On Loan: —       |
| ConocoPhillips                                           | ConocoPhillips                                           | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |    150800 | NS      | $13400088.00  | 3.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Bunge Global SA                                          | Bunge Global SA                                          | CUSIP: N/A<br>LEI: 254900IVXSV9K0B7PO26       | Long             | EC               | CORP              | CH        |     25600 | NS      | $2421760.00   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| ERO Copper Corp.                                         | ERO Copper Corp.                                         | CUSIP: 296006109<br>LEI: 549300KL8A21SEIO8I47 | Long             | EC               | CORP              | CA        |    219200 | NS      | $4680788.56   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto plc                                            | Rio Tinto plc                                            | CUSIP: 767204100<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |     77900 | NS      | $5588546.00   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance, Inc.                                           | Reliance, Inc.                                           | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |      7300 | NS      | $2061739.00   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Neo Performance Materials, Inc.                          | Neo Performance Materials, Inc.                          | CUSIP: 64046G106<br>LEI: 984500E2A5I396CB6D96 | Long             | EC               | CORP              | CA        |     45400 | NS      | $626028.31    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| BHP Group Ltd.                                           | BHP Group Ltd.                                           | CUSIP: 088606108<br>LEI: WZE1WSENV6JSZFK0JC28 | Long             | EC               | CORP              | AU        |    190000 | NS      | $10839500.00  | 3.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Franklin Institutional U.S. Government Money Market Fund | Franklin Institutional U.S. Government Money Market Fund | CUSIP: 8611239C3<br>LEI: N/A                  | Long             | STIV             | RF                | US        |  14426625 | NS      | $14426625.00  | 4.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Coterra Energy, Inc.                                     | Coterra Energy, Inc.                                     | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |    375300 | NS      | $8879598.00   | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| B2Gold Corp.                                             | B2Gold Corp.                                             | CUSIP: 11777Q209<br>LEI: 549300F7OK456M5NLM05 | Long             | EC               | CORP              | CA        |    283200 | NS      | $1239776.12   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Aclara Resources, Inc.                                   | Aclara Resources, Inc.                                   | CUSIP: N/A<br>LEI: 549300V8ITKL5RQLZQ44       | Long             | EC               | CORP              | CA        |    510754 | NS      | $1158031.96   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Precision Drilling Corp.                                 | Precision Drilling Corp.                                 | CUSIP: 74022D407<br>LEI: 549300WF2OE8T5BP4B84 | Long             | EC               | CORP              | CA        |     17200 | NS      | $1030452.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Badger Meter, Inc.                                       | Badger Meter, Inc.                                       | CUSIP: 056525108<br>LEI: 5493002JENE20OGTUG20 | Long             | EC               | CORP              | US        |      7000 | NS      | $1263150.00   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| T1 Energy, Inc.                                          | T1 Energy, Inc.                                          | CUSIP: 35834F104<br>LEI: 529900H0645VFXNMJ693 | Long             | EC               | CORP              | US        |    572300 | NS      | $2128956.00   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Valterra Platinum Ltd.                                   | Valterra Platinum Ltd.                                   | CUSIP: N/A<br>LEI: 529900RORCZ0E5S5FX81       | Long             | EC               | CORP              | ZA        |      5648 | NS      | $345019.66    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Martin Marietta Materials, Inc.                          | Martin Marietta Materials, Inc.                          | CUSIP: 573284106<br>LEI: 5299005MZ4WZECVATV08 | Long             | EC               | CORP              | US        |     11500 | NS      | $7050650.00   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Infinity Natural Resources, Inc.                         | Infinity Natural Resources, Inc., Class A                | CUSIP: 456941103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    204900 | NS      | $2352252.00   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Occidental Petroleum Corp.                               | Occidental Petroleum Corp.                               | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | EC               | CORP              | US        |     78400 | NS      | $3230080.00   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Oceaneering International, Inc.                          | Oceaneering International, Inc.                          | CUSIP: 675232102<br>LEI: 549300L6PH74701W0R30 | Long             | EC               | CORP              | US        |     38600 | NS      | $898994.00    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp.                                 | Marathon Petroleum Corp.                                 | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |     23600 | NS      | $4599876.00   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| South32 Ltd.                                             | South32 Ltd.                                             | CUSIP: N/A<br>LEI: 213800LAZNPXSBKVHR17       | Long             | EC               | CORP              | AU        |    685800 | NS      | $1418294.62   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Baker Hughes Co.                                         | Baker Hughes Co., Class A                                | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     60100 | NS      | $2909441.00   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources, Inc.                                      | EOG Resources, Inc.                                      | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |     54900 | NS      | $5810616.00   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinox Gold Corp.                                       | Equinox Gold Corp.                                       | CUSIP: 29446Y502<br>LEI: 5493005IN4V1SNP9PN75 | Long             | EC               | CORP              | CA        |    414700 | NS      | $4549259.00   | 1.28%             |  |  |  | No            |                  1 | On Loan: —       |
| Cameco Corp.                                             | Cameco Corp.                                             | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |     25900 | NS      | $2647239.00   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| New Fortress Energy, Inc.                                | New Fortress Energy, Inc.                                | CUSIP: 644393100<br>LEI: 254900EICTYTCHA5X705 | Long             | EC               | CORP              | US        |     91300 | NS      | $117777.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Technip Energies NV                                      | Technip Energies NV                                      | CUSIP: N/A<br>LEI: 724500FLODI49NSCIP70       | Long             | EC               | CORP              | NL        |     39199 | NS      | $1592814.81   | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Anglo American plc                                       | Anglo American plc                                       | CUSIP: N/A<br>LEI: 549300S9XF92D1X8ME43       | Long             | EC               | CORP              | GB        |     51516 | NS      | $1948987.45   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Ivanhoe Mines Ltd.                                       | Ivanhoe Mines Ltd., Class A                              | CUSIP: 46579R104<br>LEI: 5299006XZISURYIA4G32 | Long             | EC               | CORP              | CA        |    180700 | NS      | $1807579.77   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Holdings, Inc.                                     | Crown Holdings, Inc.                                     | CUSIP: 228368106<br>LEI: NYLWZIOY8PUNIT4JOE22 | Long             | EC               | CORP              | US        |     19300 | NS      | $1875574.00   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Albemarle Corp.                                          | Albemarle Corp.                                          | CUSIP: 012653101<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | EC               | CORP              | US        |     22200 | NS      | $2180706.00   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Institutional U.S. Government Money Market Fund | Franklin Institutional U.S. Government Money Market Fund | CUSIP: 457756500<br>LEI: 549300M4TP89K77LG374 | Long             | STIV             | RF                | US        |   2458247 | NS      | $2458247.49   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinder Morgan, Inc.                                      | Kinder Morgan, Inc.                                      | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |    164000 | NS      | $4295160.00   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Lundin Mining Corp.                                      | Lundin Mining Corp.                                      | CUSIP: 550372106<br>LEI: 549300FQDIM6C8HTN269 | Long             | EC               | CORP              | CA        |    376700 | NS      | $6059215.00   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Targa Resources Corp.                                    | Targa Resources Corp.                                    | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |     33200 | NS      | $5114128.00   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Energy, Inc.                                     | Liberty Energy, Inc., Class A                            | CUSIP: 53115L104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    149400 | NS      | $2705634.00   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Water Solutions, Inc.                             | Select Water Solutions, Inc., Class A                    | CUSIP: 81617J301<br>LEI: 54930094OK8LA3QDW486 | Long             | EC               | CORP              | US        |     79400 | NS      | $917864.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| MP Materials Corp.                                       | MP Materials Corp.                                       | CUSIP: 553368101<br>LEI: 89450063PHPS61USMT84 | Long             | EC               | CORP              | US        |     37400 | NS      | $2359566.00   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Agnico Eagle Mines Ltd.                                  | Agnico Eagle Mines Ltd.                                  | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |     57900 | NS      | $9312382.45   | 2.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Suncor Energy, Inc.                                      | Suncor Energy, Inc.                                      | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |    129300 | NS      | $5148768.31   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Packaging Corp. of America                               | Packaging Corp. of America                               | CUSIP: 695156109<br>LEI: 549300XZP8MFZFY8TJ84 | Long             | EC               | CORP              | US        |      8400 | NS      | $1644384.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Ivanhoe Electric, Inc.                                   | Ivanhoe Electric, Inc.                                   | CUSIP: 46578C108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     56101 | NS      | $829733.79    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Brazilian Rare Earths Ltd.                               | Brazilian Rare Earths Ltd.                               | CUSIP: N/A<br>LEI: 9845008972A00C4E4C60       | Long             | EC               | CORP              | AU        |    581286 | NS      | $2175518.66   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde plc                                                | Linde plc                                                | CUSIP: N/A<br>LEI: 5299003QR1WT0EF88V51       | Long             | EC               | CORP              | IE        |     15700 | NS      | $6567310.00   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

**Name of Applicant:** Franklin Strategic Series

**Signature:** Monica Krogh

**Name of Signer:** Monica Krogh

**Title:** Assistant Treasurer