# EDGAR Filing Document

**Accession Number:** 0000809707
**File Stem:** 0002071691-26-000124
**Filing Date:** 2026-1
**Character Count:** 439693
**Document Hash:** 589f317de8896f170aebd0418482d5af
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-26-000124.hdr.sgml**: 20260112

**ACCESSION NUMBER**: 0002071691-26-000124

**CONFORMED SUBMISSION TYPE**: N-CEN

**PUBLIC DOCUMENT COUNT**: 5

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20260112

**DATE AS OF CHANGE**: 20260112

**EFFECTIVENESS DATE**: 20260112

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Franklin Investors Securities Trust
- **CENTRAL INDEX KEY:** 0000809707

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

**FILING VALUES:**
- **FORM TYPE:** N-CEN
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04986
- **FILM NUMBER:** 26525144

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403-1906
- **BUSINESS PHONE:** 650-312-2200

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRANKLIN INVESTORS SECURITIES TRUST
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### FRANKLIN LOW DURATION U.S. GOVERNMENT SECURITIES FUND (Series ID: S000006850)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018509 | Class A       | FISAX           |
| C000018510 | Class C       | FCSCX           |
| C000064441 | Advisor Class | FAUZX           |
| C000133492 | Class R6      | FAURX           |
| C000140480 | Class A1      | FAUGX           |

### FRANKLIN CONVERTIBLE SECURITIES FUND (Series ID: S000006851)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018511 | Class A       | FISCX           |
| C000018512 | Class C       | FROTX           |
| C000064442 | Advisor Class | FCSZX           |
| C000141439 | Class R6      | FCSKX           |

### FRANKLIN EQUITY INCOME FUND (Series ID: S000006852)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018513 | Class A       | FISEX           |
| C000018515 | Class C       | FRETX           |
| C000018516 | Class R       | FREIX           |
| C000064443 | Advisor Class | FEIFX           |
| C000128878 | Class R6      | FEIQX           |

### FRANKLIN FLOATING RATE DAILY ACCESS FUND (Series ID: S000006853)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018517 | Class A       | FAFRX           |
| C000018519 | Class C       | FCFRX           |
| C000018520 | Advisor Class | FDAAX           |
| C000128879 | Class R6      | FFRDX           |

### FRANKLIN LOW DURATION TOTAL RETURN FUND (Series ID: S000006855)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018523 | Class A       | FLDAX           |
| C000064444 | Advisor Class | FLDZX           |
| C000120960 | Class C       | FLDCX           |
| C000128881 | Class R6      | FLRRX           |
| C000215060 | Class R       | FLPRX           |

### FRANKLIN TOTAL RETURN FUND (Series ID: S000006857)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018526 | Class A       | FKBAX           |
| C000018528 | Class C       | FCTLX           |
| C000018529 | Advisor Class | FBDAX           |
| C000018530 | Class R       | FTRRX           |
| C000128883 | Class R6      | FRERX           |

### Franklin Managed Income Fund (Series ID: S000012705)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000034238 | Class A       | FBLAX           |
| C000034239 | Class C       | FBMCX           |
| C000034240 | Class R       | FBFQX           |
| C000034241 | Advisor Class | FBFZX           |
| C000128884 | Class R6      | FBFRX           |

### Franklin Long Duration Credit Fund (Series ID: S000081420)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000244290 | Class R6      | FLDBX           |
| C000244291 | Class A       |  |
| C000244292 | Class R       |  |
| C000244293 | Advisor Class |  |

## Internal

```

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Franklin Investors Securities Trust
and Shareholders of Franklin Convertible Securities Fund, Franklin
Equity Income Fund, Franklin Floating Rate Daily Access Fund,
Franklin Long Duration Credit Fund, Franklin Low Duration Total
Return Fund, Franklin Low Duration U.S. Government Securities
Fund, Franklin Managed Income Fund and Franklin Total Return Fund

In planning and performing our audits of the financial statements
of Franklin Convertible Securities Fund, Franklin Equity Income Fund,
Franklin Floating Rate Daily Access Fund, Franklin Long Duration Credit
Fund, Franklin Low Duration Total Return Fund, Franklin Low Duration
U.S. Government Securities Fund, Franklin Managed Income Fund and
Franklin Total Return Fund (eight of the funds constituting Franklin
Investors Securities Trust, hereinafter collectively referred to as
the "Funds") as of and for the year ended October 31, 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 October 31, 2025.

This report is intended solely for the information and use of the
Board of Trustees of Franklin Investors Securities Trust 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
December 18, 2025

```

## 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

```

## 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

```

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

## N-CEN: Filer Information
**Submission Type:** N-CEN
**CIK:** 0000809707

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

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

**Item A.1.a - Report for period ending:** 2025-10-31

**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 Investors Securities Trust

- **Item B.1.b - Investment Company Act file number:** 811-04986

- **Item B.1.c - CIK:** 0000809707

- **Item B.1.d - LEI:** 549300XUGIR9DEQFV548

- **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):** 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: 3**

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

- **b. Street 1:** 280 Park 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:** 212-632-3000

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

**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):** 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

**Location books Record: 7**

- **a. Name of person (e.g., a custodian of records):** US Bank National Association

- **b. Street 1:** 425, Walnut Street

- **c. City:** Ohio

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

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

- **f. Zip code and zip code extension, or foreign postal code:** 45202

- **g. Telephone number:** 513-632-4234

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

**Location books Record: 8**

- **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: 9**

- **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

- **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:** 8

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

### 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?:** No

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-33117
  - IC-15534
  - IC-32722

### 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 Low Duration U.S. Government Securities Fund

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

- **a. Full Name of the Fund:** Franklin Low Duration U.S. Government Securities Fund

- **b. Series identification number, if any:** S000006850

- **c. LEI:** 549300OAF2KY89TO9M53

- **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 A                 | C000018509                                | FISAX                        |
|                           2 | Class R6                | C000133492                                | FAURX                        |
|                           3 | Class C                 | C000018510                                | FCSCX                        |
|                           4 | Class A1                | C000140480                                | FAUGX                        |
|                           5 | Advisor Class           | C000064441                                | FAUZX                        |

**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

**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:** The Bank of New York 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:** $0.00

- **g. Provide the net income from securities lending activities:** $0.00

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

Did the Fund rely on the following rules?

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

- Rule 6c-11 (17 CFR 270.6c-11)

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

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

- **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:** IHS Markit Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

- **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

- **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:** LSEG US FIN CORP.

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

- **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: 5**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **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)

- **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

- **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 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 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 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

**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:** 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:** $6,792.49

**Aggregate Commission:** $6,792.49

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

| Name                          | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| J.P. Morgan Securities LLC    | 8-35008           |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $298,192,524.15           |
| BofA Securities, Inc.         | 8-69787           |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $2,997,656.25             |
| Wells Fargo Securities, LLC   | 8-65876           |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $1,832,580.12             |
| Goldman Sachs & Co. LLC       | 8-00129           |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $5,922,316.88             |
| Citigroup Global Markets Inc. | 8-08177           |    000007059 | MBNUM2BPBDO7JBLYG310 | NY      | US        | $3,722,897.66             |
| BNP Paribas Securities Corp.  | 8-32682           |    000015794 | RCNB6OTYUAMMP879YW96 | NY      | US        | $3,458,872.80             |
| BMO Capital Markets Corp.     | 8-34344           |    000016686 | RUC0QBLBRPRCU4W1NE59 | NY      | US        | $10,939,239.13            |
| Barclays Capital, Inc.        | 8-41342           |    000019714 | AC28XWWI3WIBK2824319 | NY      | US        | $1,925,127.34             |
| HSBC Securities (USA) Inc.    | 8-41562           |    000019585 | CYYGQCGNHMHPSMRL3R97 | NY      | US        | $988,683.19               |
| Morgan Stanley & Co. LLC      | 8-15869           |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $4,917,683.73             |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $335,746,869.80

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** No

- **Item C.19.a - Fund's monthly average net assets:** $388,373,001.40

**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:** CITIBANK, 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:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 6 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 7 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 8 Name of institution:** GOLDMAN SACHS BANK USA

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

  - **Line Institutions Record: 10 Name of institution:** THE BANK OF NEW YORK MELLON

- **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   |
|:---|:---|
| BrandywineGLOBAL - Diversified US Large Cap Value Fund                                        | 811-22338         |
| Franklin Maryland Tax-Free Income Fund                                                        | 811-04149         |
| Western Asset Intermediate-Term Municipals Fund                                               | 811-04254         |
| Western Asset Intermediate Maturity California Municipals Fund                                | 811-04254         |
| Western Asset Corporate Bond Fund                                                             | 811-04254         |
| Western Asset New York Municipals Fund                                                        | 811-04254         |
| Putnam Government Money Market Fund                                                           | 811-07237         |
| ClearBridge Variable Mid Cap Portfolio                                                        | 811-21128         |
| Putnam Small Cap Growth Fund                                                                  | 811-07513         |
| Franklin Strategic Income VIP Fund                                                            | 811-05583         |
| Putnam VT Income Fund                                                                         | 811-05346         |
| Putnam ESG High Yield ETF                                                                     | 811-23643         |
| Franklin Michigan Tax-Free Income Fund                                                        | 811-04149         |
| Western Asset Oregon Municipals Fund                                                          | 811-04254         |
| Putnam Sustainable Future ETF                                                                 | 811-23643         |
| Templeton Emerging Markets Small Cap Fund                                                     | 811-08226         |
| Putnam Large Cap Value Fund                                                                   | 811-02742         |
| Franklin Allocation VIP Fund (f/k/a Franklin Founding Funds Allocation VIP Fund)              | 811-05583         |
| Franklin Senior Loan ETF                                                                      | 811-23124         |
| Franklin Gold and Precious Metals Fund                                                        | 811-01700         |
| Putnam Focused Large Cap Growth ETF                                                           | 811-23643         |
| Franklin Mutual Quest Fund                                                                    | 811-05387         |
| BrandywineGLOBAL - High Yield Fund                                                            | 811-06444         |
| ClearBridge Global Infrastructure Income Fund                                                 | 811-22338         |
| Putnam VT Large Cap Value Fund                                                                | 811-05346         |
| Franklin LifeSmart Retirement Income Fund                                                     | 811-07851         |
| ClearBridge Large Cap Growth Fund                                                             | 811-06444         |
| Western Asset SMASh Series Core Completion Fund                                               | 811-06740         |
| Putnam International Value Fund                                                               | 811-07513         |
| Franklin New York Intermediate-Term Tax-Free Income Fund                                      | 811-04787         |
| Western Asset Municipal High Income Fund                                                      | 811-04254         |
| Franklin Small Cap Growth Fund                                                                | 811-06243         |
| ClearBridge Variable Appreciation Portfolio                                                   | 811-21128         |
| Franklin Floating Rate Daily Access Fund                                                      | 811-04986         |
| Franklin LifeSmart 2040 Retirement Target Fund                                                | 811-07851         |
| Franklin Global Real Estate VIP Fund                                                          | 811-05583         |
| Putnam VT High Yield Fund                                                                     | 811-05346         |
| Franklin S&P 500 Index Fund                                                                   | 811-06444         |
| Putnam Minnesota Tax Exempt Income Fund                                                       | 811-04527         |
| Franklin Convertible Securities Fund                                                          | 811-04986         |
| Franklin Long Duration Credit Fund                                                            | 811-04986         |
| International Equity Series                                                                   | 811-06135         |
| Putnam VT Research Fund                                                                       | 811-05346         |
| Franklin Federal Limited-Term Tax-Free Income Fund                                            | 811-04149         |
| Templeton Foreign VIP Fund                                                                    | 811-05583         |
| Franklin Growth Allocation Fund                                                               | 811-07851         |
| Western Asset Short Duration Municipal Income Fund                                            | 811-04254         |
| Putnam Focused International Equity Fund                                                      | 811-01403         |
| Franklin Growth and Income VIP Fund                                                           | 811-05583         |
| Western Asset SMASh Series TF Fund                                                            | 811-06740         |
| Franklin International Equity Fund (fka QS International Equity Fund)                         | 811-22338         |
| BrandywineGLOBAL - Global Opportuniites Bond Fund                                             | 811-22338         |
| Templeton Growth VIP Fund                                                                     | 811-05583         |
| Putnam Money Market Fund                                                                      | 811-02608         |
| Western Asset Mortgage Total Return Fund                                                      | 811-04254         |
| Franklin Floating Rate Master Series                                                          | 811-09869         |
| Franklin Income VIP Fund                                                                      | 811-05583         |
| ClearBridge Small Cap Fund                                                                    | 811-22338         |
| Putnam Multi-Asset Income Fund                                                                | 811-07121         |
| Franklin Templeton SMACS:  Series I                                                           | 811-06243         |
| Templeton Global Bond VIP Fund                                                                | 811-05583         |
| ClearBridge Appreciation Fund                                                                 | 811-06444         |
| Templeton Developing Markets VIP Fund                                                         | 811-05583         |
| Franklin LifeSmart 2055 Retirement Target Fund                                                | 811-07851         |
| Franklin Real Estate Securities Fund                                                          | 811-08034         |
| ClearBridge International Growth Fund                                                         | 811-22338         |
| Franklin U.S. Large Cap Equity Fund                                                           | 811-06444         |
| Franklin Small-Mid Cap Growth VIP Fund                                                        | 811-05583         |
| Putnam Short-Term Municipal Income Fund                                                       | 811-07513         |
| Western Asset Pennsylvania Municipals Fund                                                    | 811-04254         |
| Franklin Income Fund                                                                          | 811-00537         |
| Franklin Natural Resources Fund                                                               | 811-06243         |
| Putnam VT Mortgage Securities Fund                                                            | 811-05346         |
| Franklin Georgia Tax-Free Income Fund                                                         | 811-04149         |
| ClearBridge Large Cap Value Fund                                                              | 811-06444         |
| Franklin California Intermediate-Term Tax-Free Income Fund                                    | 811-04356         |
| Western Asset Intermediate Maturity New York Municipals Fund                                  | 811-04254         |
| Franklin Total Return Fund                                                                    | 811-04986         |
| Putnam Dynamic Asset Allocation Growth Fund                                                   | 811-07121         |
| Western Asset Short Duration Income ETF                                                       | 811-23096         |
| Franklin Templeton Conservative Model Portfolio                                               | 811-21128         |
| Putnam Short Duration Bond Fund                                                               | 811-07513         |
| Franklin Mutual Shares Fund                                                                   | 811-05387         |
| Franklin Templeton SMACS:  Series EM                                                          | 811-08226         |
| Franklin U.S. Small Capitalization Equity Fund (fka QS U.S. Small Capitalization Equity Fund) | 811-22338         |
| Putnam Pennsylvania Tax Exempt Income Fund                                                    | 811-05802         |
| Templeton Foreign Fund                                                                        | 811-02781         |
| Franklin LifeSmart 2020 Retirement Target Fund                                                | 811-07851         |
| Western Asset Massachusetts Municipals Fund                                                   | 811-04254         |
| Franklin Low Duration Total Return Fund                                                       | 811-04986         |
| Franklin VolSmart Allocation VIP Fund                                                         | 811-05583         |
| Franklin Strategic Mortgage Portfolio                                                         | 811-07288         |
| Western Asset Variable Global High Yield Bond Portfolio                                       | 811-06310         |
| Putnam VT Focused International Equity Fund                                                   | 811-05346         |
| Putnam VT Sustainable Future Fund                                                             | 811-05346         |
| Franklin Oregon Tax-Free Income Fund                                                          | 811-04149         |
| Putnam BDC Income ETF                                                                         | 811-23643         |
| Putnam Global Technology Fund                                                                 | 811-07513         |
| Western Asset Core Plus Bond Fund                                                             | 811-06110         |
| Templeton World Fund                                                                          | 811-02781         |
| Templeton Global Balanced Fund                                                                | 811-08226         |
| Putnam High Yield Fund                                                                        | 811-04616         |
| Putnam Mortgage Opportunities Fund                                                            | 811-07513         |
| Western Asset Managed Municipals Fund                                                         | 811-04254         |
| Putnam Focused Large Cap Value ETF                                                            | 811-23643         |
| Western Asset SMASh Series M Fund                                                             | 811-06740         |
| Franklin Rising Dividends Fund                                                                | 811-04894         |
| Franklin Global Equity Fund                                                                   | 811-06444         |
| Franklin Managed Income Fund                                                                  | 811-04986         |
| George Putnam Balanced Fund                                                                   | 811-00058         |
| Franklin Virginia Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Alabama Tax-Free Income Fund                                                         | 811-04149         |
| Putnam Ultra Short MAC Series                                                                 | 811-07513         |
| Franklin DynaTech VIP Fund                                                                    | 811-05583         |
| Putnam Ultra Short Duration Income Fund                                                       | 811-07513         |
| ClearBridge Variable Growth Portfolio                                                         | 811-21128         |
| ClearBridge Sustainability Leaders Fund                                                       | 811-06444         |
| Franklin Missouri Tax-Free Income Fund                                                        | 811-04149         |
| Franklin High Yield Tax-Free Income Fund                                                      | 811-04149         |
| ClearBridge Value Fund                                                                        | 811-22338         |
| Putnam Income Fund                                                                            | 811-00653         |
| ClearBridge Small Cap Growth Fund                                                             | 811-06444         |
| Western Asset New Jersey Municipals Fund                                                      | 811-04254         |
| Franklin Ohio Tax-Free Income Fund                                                            | 811-04149         |
| Putnam Core Equity Fund (f/k/a Putnam Multi-Cap Core Fund)                                    | 811-07513         |
| Putnam VT Small Cap Value Fund                                                                | 811-05346         |
| Franklin LifeSmart 2060 Retirement Target Fund                                                | 811-07851         |
| Western Asset Core Plus VIT Portfolio                                                         | 811-06310         |
| Western Asset Income Fund                                                                     | 811-04254         |
| Western Asset Total Return ETF                                                                | 811-23096         |
| Franklin Templeton Aggressive Model Portfolio                                                 | 811-21128         |
| Franklin LifeSmart 2025 Retirement Target Fund                                                | 811-07851         |
| BrandywineGLOBAL - Flexible Bond Fund                                                         | 811-22338         |
| Putnam Small Cap Value Fund                                                                   | 811-07237         |
| Putnam Tax-Free High Yield Fund                                                               | 811-04345         |
| Franklin Connecticut Tax-Free Income Fund                                                     | 811-04149         |
| Franklin Mutual Small-Mid Cap Value Fund                                                      | 811-05878         |
| Franklin DynaTech Fund                                                                        | 811-00537         |
| Franklin Mutual Global Discovery VIP Fund                                                     | 811-05583         |
| Putnam VT Small Cap Growth Fund                                                               | 811-05346         |
| Templeton Global Bond Fund                                                                    | 811-04706         |
| Franklin Templeton SMACS:  Series E                                                           | 811-06243         |
| Templeton Sustainable Emerging Markets Bond Fund                                              | 811-04706         |
| ClearBridge International Value Fund                                                          | 811-06444         |
| ClearBridge Dividend Strategy Fund                                                            | 811-06444         |
| ClearBridge Variable Large Cap Growth Portfolio                                               | 811-21128         |
| Putnam VT Government Money Market Fund                                                        | 811-05346         |
| Franklin High Income Fund                                                                     | 811-01608         |
| Putnam Diversified Income Trust                                                               | 811-05635         |
| Putnam International Capital Opportunities Fund                                               | 811-07237         |
| ClearBridge Tactical Dividend Income Fund                                                     | 811-06444         |
| Putnam VT International Value Fund                                                            | 811-05346         |
| Western Asset Intermediate Bond Fund                                                          | 811-06110         |
| Putnam Large Cap Growth Fund (f/k/a Putnam Growth Opportunities Fund)                         | 811-07237         |
| Franklin Massachusetts Tax-Free Income Fund                                                   | 811-04149         |
| Franklin Arizona Tax-Free Income Fund                                                         | 811-04149         |
| Martin Currie Emerging Markets Fund                                                           | 811-22338         |
| Franklin Templeton Moderately Conservative Model Portfolio                                    | 811-21128         |
| Putnam Tax Exempt Income Fund                                                                 | 811-02675         |
| Franklin Templeton SMACS:  Series CH                                                          | 811-06243         |
| Franklin Growth Opportunities Fund                                                            | 811-06243         |
| Franklin Emerging Market Debt Opportunities Fund                                              | 811-10157         |
| Putnam Emerging Markets Ex-China ETF                                                          | 811-23643         |
| Putnam VT Diversified Income Fund                                                             | 811-05346         |
| Franklin Corefolio Allocation Fund                                                            | 811-07851         |
| Putnam International Equity Fund                                                              | 811-06190         |
| Franklin Mutual Beacon Fund                                                                   | 811-05387         |
| Franklin Minnesota Tax-Free Income Fund                                                       | 811-04149         |
| Franklin Multi-Asset Variable Growth Fund                                                     | 811-21128         |
| Franklin Multi-Asset Growth Fund                                                              | 811-06444         |
| Western Asset California Municipals Fund                                                      | 811-04254         |
| Franklin LifeSmart 2045 Retirement Target Fund                                                | 811-07851         |
| Franklin High Yield Corporate ETF                                                             | 811-23124         |
| ClearBridge Mid Cap Growth Fund                                                               | 811-06444         |
| ClearBridge Select Fund                                                                       | 811-06444         |
| ClearBridge Variable Small Cap Growth Portfolio                                               | 811-21128         |
| Putnam Intermediate-Term Municipal Income Fund                                                | 811-07513         |
| Putnam VT Global Asset Allocation Fund                                                        | 811-05346         |
| Franklin Utilities Fund                                                                       | 811-00537         |
| K2 Alternative Strategies Fund                                                                | 811-22641         |
| Putnam Convertible Securities Fund                                                            | 811-02280         |
| Putnam VT International Equity Fund                                                           | 811-05346         |
| Franklin Pennsylvania Tax-Free Income Fund                                                    | 811-04149         |
| Putnam Massachusetts Tax Exempt Income Fund                                                   | 811-04518         |
| Western Asset Inflation Indexed Plus Bond Fund                                                | 811-06110         |
| Franklin U.S. Government Securities VIP Fund                                                  | 811-05583         |
| Franklin California High Yield Municipal Fund                                                 | 811-06481         |
| Franklin LifeSmart 2030 Retirement Target Fund                                                | 811-07851         |
| Franklin Templeton SMACS:  Series H                                                           | 811-06243         |
| Putnam ESG Ultra Short ETF                                                                    | 811-23643         |
| Putnam VT Global Health Care Fund                                                             | 811-05346         |
| Franklin Mutual U.S. Mid Cap Value Fund                                                       | 811-05878         |
| Putnam Mortgage Securities Fund                                                               | 811-03897         |
| Franklin Moderate Allocation Fund                                                             | 811-07851         |
| Western Asset High Yield Fund                                                                 | 811-06110         |
| Franklin North Carolina Tax-Free Income Fund                                                  | 811-04149         |
| Franklin Mutual International Value Fund                                                      | 811-05387         |
| Western Asset SMASh Series Core Plus Completion                                               | 811-06740         |
| Putnam VT Sustainable Leaders Fund                                                            | 811-05346         |
| Putnam PanAgora ESG International Equity ETF                                                  | 811-23643         |
| Franklin Mutual Global Discovery Fund                                                         | 811-05387         |
| Franklin Small Cap Value VIP Fund                                                             | 811-05583         |
| Putnam VT Emerging Markets Equity Fund                                                        | 811-05346         |
| Franklin Templeton Moderately Aggressive Model Portfolio                                      | 811-21128         |
| Franklin Core Plus Bond Fund                                                                  | 811-06243         |
| Franklin Templeton Moderate Model Portfolio                                                   | 811-21128         |
| Putnam Global Income Trust                                                                    | 811-04524         |
| Putnam Ohio Tax Exempt Income Fund                                                            | 811-04528         |
| Franklin Federal Tax-Free Income Fund                                                         | 811-03395         |
| Foreign Smaller Companies Series                                                              | 811-06135         |
| Templeton Developing Markets Trust                                                            | 811-06378         |
| Templeton International Bond Fund                                                             | 811-04706         |
| Franklin Conservative Allocation Fund                                                         | 811-07851         |
| ClearBridge Growth Fund                                                                       | 811-06444         |
| Franklin Colorado Tax-Free Income Fund                                                        | 811-04149         |
| ClearBridge Variable Dividend Strategy Portfolio                                              | 811-21128         |
| Western Asset Long Credit VIT                                                                 | 811-06310         |
| Franklin Equity Income Fund                                                                   | 811-04986         |
| Templeton Growth Fund, Inc.                                                                   | 811-04892         |
| Western Asset Short Duration High Income Fund                                                 | 811-04254         |
| Franklin Mutual Shares VIP Fund                                                               | 811-05583         |
| Putnam Sustainable Leaders ETF                                                                | 811-23643         |
| Franklin Small Cap Value Fund                                                                 | 811-05878         |
| Templeton Global Smaller Companies Fund                                                       | 811-03143         |
| Franklin Multi-Asset Moderate Growth Fund                                                     | 811-06444         |
| Putnam VT Core Equity Fund (f/k/a Putnam VT Multi-Cap Core Fund)                              | 811-05346         |
| Putnam Emerging Markets Equity Fund                                                           | 811-07513         |
| Putnam Sustainable Future Fund                                                                | 811-07237         |
| Franklin LifeSmart 2050 Retirement Target Fund                                                | 811-07851         |
| Martin Currie SMASh Series EM Fund                                                            | 811-22338         |
| Putnam VT George Putnam Balanced Fund                                                         | 811-05346         |
| Franklin New York Tax-Free Income Fund                                                        | 811-03479         |
| Franklin Multi-Asset Variable Conservative Growth Fund                                        | 811-21128         |
| ClearBridge Variable Large Cap Value Portfolio                                                | 811-21128         |
| Putnam Global Health Care Fund                                                                | 811-03386         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund                                             | 811-22338         |
| Putnam VT Large Cap Growth Fund (f/k/a Putnam VT Growth Opportunities Fund)                   | 811-05346         |
| Putnam Strategic Intermediate Municipal Fund                                                  | 811-04345         |
| Franklin Growth Fund                                                                          | 811-00537         |
| Western Asset Ultra-Short Income Fund                                                         | 811-04254         |
| Putnam Focused Equity Fund                                                                    | 811-07513         |
| Franklin New Jersey Tax-Free Income Fund                                                      | 811-04149         |
| Putnam BioRevolution ETF                                                                      | 811-23643         |
| Franklin Rising Dividends VIP Fund                                                            | 811-05583         |
| Franklin California Tax-Free Income Fund                                                      | 811-02790         |
| Putnam California Tax Exempt Income Fund                                                      | 811-03630         |
| BrandywineGLOBAL - Corporate Credit Fund                                                      | 811-06444         |
| Western Asset Core Bond Fund                                                                  | 811-06110         |
| Franklin U.S. Government Securities Fund                                                      | 811-00537         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund                                       | 811-04149         |
| Franklin Multi-Asset Conservative Growth Fund                                                 | 811-06444         |
| BrandywineGLOBAL - Alternative Credit Fund                                                    | 811-22338         |
| Franklin Small-Mid Cap Growth Fund                                                            | 811-06243         |
| Western Asset Short-Term Bond Fund                                                            | 811-04254         |
| ClearBridge Mid Cap Fund                                                                      | 811-06444         |
| Putnam Research Fund                                                                          | 811-07237         |
| Western Asset SMASh Series C Fund                                                             | 811-06740         |
| Putnam Sustainable Leaders Fund                                                               | 811-06128         |
| Putnam PanAgora ESG Emerging Markets Equity ETF                                               | 811-23643         |
| Putnam New York Tax Exempt Income Fund                                                        | 811-03741         |
| Western Asset Bond ETF                                                                        | 811-23124         |
| Putnam Floating Rate Income Fund                                                              | 811-07513         |
| Franklin Multi-Asset Defensive Growth Fund                                                    | 811-06444         |
| Templeton Global Total Return Fund                                                            | 811-04706         |
| Franklin Louisiana Tax-Free Income Fund                                                       | 811-04149         |
| Franklin Biotechnology Discovery Fund                                                         | 811-06243         |
| Putnam New Jersey Tax Exempt Income Fund                                                      | 811-05977         |
| Western Asset Total Return Unconstrained Fund                                                 | 811-06110         |
| Putnam ESG Core Bond ETF                                                                      | 811-23643         |
| Franklin International Growth Fund                                                            | 811-10157         |
| Putnam Dynamic Asset Allocation Balanced Fund                                                 | 811-07121         |
| Franklin Large Cap Growth VIP Fund                                                            | 811-05583         |
| Franklin Global Allocation Fund                                                               | 811-07851         |
| Franklin Multi-Asset Variable Moderate Growth Fund                                            | 811-21128         |
| Putnam Dynamic Asset Allocation Equity Fund                                                   | 811-07513         |
| Putnam Dynamic Asset Allocation Conservative Fund                                             | 811-07121         |
| Putnam Core Bond Fund (f/k/a Putnam Fixed Income Absolute Return Fund)                        | 811-07513         |
| Franklin LifeSmart 2035 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: 2 - Franklin Floating Rate Daily Access Fund

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

- **a. Full Name of the Fund:** Franklin Floating Rate Daily Access Fund

- **b. Series identification number, if any:** S000006853

- **c. LEI:** NDVQZJLQKYEB9K3LB498

- **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                 | C000018519                                | FCFRX                        |
|                           2 | Class A                 | C000018517                                | FAFRX                        |
|                           3 | Advisor Class           | C000018520                                | FDAAX                        |
|                           4 | Class R6                | C000128879                                | FFRDX                        |

**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:** The Bank of New York 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:** $2,200,317.47

- **g. Provide the net income from securities lending activities:** $20,568.00

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

Did the Fund rely on the following rules?

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

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

- Rule 6c-11 (17 CFR 270.6c-11)

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

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

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

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

- 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:** 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 US FIN CORP.

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

- **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: 2**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **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: 3**

- **i. Full name:** IHS Markit Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

- **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

- **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 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:** Virtu Americas LLC

- **ii. SEC file number:** 8-68193

- **iii. CRD number:** 000149823

- **iv. LEI, if any:** 549300RA02N3BNSWBV74

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,404.16

**Aggregate Commission:** $2,404.16

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

| Name                          | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| BofA Securities, Inc.         | 8-69787           |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $114,725,433.30           |
| Morgan Stanley & Co. LLC      | 8-15869           |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $110,091,546.79           |
| Goldman Sachs & Co. LLC       | 8-00129           |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $166,512,455.75           |
| Citigroup Global Markets Inc. | 8-08177           |    000007059 | MBNUM2BPBDO7JBLYG310 | NY      | US        | $66,585,009.21            |
| Wells Fargo Securities, LLC   | 8-65876           |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $33,440,514.28            |
| Deutsche Bank Securities Inc. | 8-17822           |    000002525 | 9J6MBOOO7BECTDTUZW19 | NY      | US        | $836,130,449.50           |
| J.P. Morgan Securities LLC    | 8-35008           |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $12,330,371,035.61        |
| HSBC Securities (USA) Inc.    | 8-41562           |    000019585 | CYYGQCGNHMHPSMRL3R97 | NY      | US        | $1,601,114,887.24         |
| Barclays Capital, Inc.        | 8-41342           |    000019714 | AC28XWWI3WIBK2824319 | NY      | US        | $58,907,619.00            |
| BNP Paribas Securities Corp.  | 8-32682           |    000015794 | RCNB6OTYUAMMP879YW96 | NY      | US        | $2,514,137,396.16         |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $17,997,970,448.06

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** No

- **Item C.19.a - Fund's monthly average net assets:** $1,464,385,579.50

**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:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **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:** BANK OF AMERICA, N.A.

  - **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:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 9 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 10 Name of institution:** CITIBANK, 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 VT Global Health Care Fund                                                             | 811-05346         |
| Franklin DynaTech Fund                                                                        | 811-00537         |
| Franklin Templeton Moderately Aggressive Model Portfolio                                      | 811-21128         |
| Franklin Core Plus Bond Fund                                                                  | 811-06243         |
| Templeton International Bond Fund                                                             | 811-04706         |
| Franklin Natural Resources Fund                                                               | 811-06243         |
| Putnam VT International Value Fund                                                            | 811-05346         |
| Putnam Massachusetts Tax Exempt Income Fund                                                   | 811-04518         |
| Putnam Sustainable Future Fund                                                                | 811-07237         |
| Putnam VT Government Money Market Fund                                                        | 811-05346         |
| Putnam Dynamic Asset Allocation Conservative Fund                                             | 811-07121         |
| ClearBridge Appreciation Fund                                                                 | 811-06444         |
| Templeton Global Bond Fund                                                                    | 811-04706         |
| BrandywineGLOBAL - Flexible Bond Fund                                                         | 811-22338         |
| Putnam VT George Putnam Balanced Fund                                                         | 811-05346         |
| Putnam VT Core Equity Fund (f/k/a Putnam VT Multi-Cap Core Fund)                              | 811-05346         |
| ClearBridge Variable Large Cap Value Portfolio                                                | 811-21128         |
| Putnam International Value Fund                                                               | 811-07513         |
| Putnam VT Small Cap Value Fund                                                                | 811-05346         |
| ClearBridge Variable Small Cap Growth Portfolio                                               | 811-21128         |
| ClearBridge International Value Fund                                                          | 811-06444         |
| Putnam New Jersey Tax Exempt Income Fund                                                      | 811-05977         |
| Franklin Multi-Asset Variable Growth Fund                                                     | 811-21128         |
| Putnam Small Cap Value Fund                                                                   | 811-07237         |
| Foreign Smaller Companies Series                                                              | 811-06135         |
| Franklin Ohio Tax-Free Income Fund                                                            | 811-04149         |
| Putnam VT Mortgage Securities Fund                                                            | 811-05346         |
| Putnam Floating Rate Income Fund                                                              | 811-07513         |
| ClearBridge Variable Growth Portfolio                                                         | 811-21128         |
| Franklin Allocation VIP Fund (f/k/a Franklin Founding Funds Allocation VIP Fund)              | 811-05583         |
| Putnam Money Market Fund                                                                      | 811-02608         |
| Franklin Virginia Tax-Free Income Fund                                                        | 811-04149         |
| Putnam Multi-Asset Income Fund                                                                | 811-07121         |
| Franklin Strategic Mortgage Portfolio                                                         | 811-07288         |
| Putnam Emerging Markets Ex-China ETF                                                          | 811-23643         |
| Franklin Templeton SMACS:  Series I                                                           | 811-06243         |
| Putnam Global Technology Fund                                                                 | 811-07513         |
| ClearBridge Mid Cap Growth Fund                                                               | 811-06444         |
| Putnam Strategic Intermediate Municipal Fund                                                  | 811-04345         |
| Western Asset Intermediate-Term Municipals Fund                                               | 811-04254         |
| Franklin Oregon Tax-Free Income Fund                                                          | 811-04149         |
| Franklin Biotechnology Discovery Fund                                                         | 811-06243         |
| ClearBridge Sustainability Leaders Fund                                                       | 811-06444         |
| Western Asset SMASh Series Core Completion Fund                                               | 811-06740         |
| Franklin Connecticut Tax-Free Income Fund                                                     | 811-04149         |
| Western Asset Long Credit VIT                                                                 | 811-06310         |
| Putnam Global Income Trust                                                                    | 811-04524         |
| Putnam VT Focused International Equity Fund                                                   | 811-05346         |
| Putnam ESG Core Bond ETF                                                                      | 811-23643         |
| Franklin Low Duration Total Return Fund                                                       | 811-04986         |
| Western Asset Bond ETF                                                                        | 811-23124         |
| Franklin New Jersey Tax-Free Income Fund                                                      | 811-04149         |
| Putnam Emerging Markets Equity Fund                                                           | 811-07513         |
| Franklin LifeSmart 2060 Retirement Target Fund                                                | 811-07851         |
| Franklin Multi-Asset Growth Fund                                                              | 811-06444         |
| Western Asset Inflation Indexed Plus Bond Fund                                                | 811-06110         |
| Western Asset New York Municipals Fund                                                        | 811-04254         |
| Franklin Mutual Global Discovery Fund                                                         | 811-05387         |
| Putnam Government Money Market Fund                                                           | 811-07237         |
| Putnam BioRevolution ETF                                                                      | 811-23643         |
| Franklin Arizona Tax-Free Income Fund                                                         | 811-04149         |
| Templeton Developing Markets Trust                                                            | 811-06378         |
| Western Asset Income Fund                                                                     | 811-04254         |
| Franklin Growth Fund                                                                          | 811-00537         |
| Putnam Small Cap Growth Fund                                                                  | 811-07513         |
| Franklin Managed Income Fund                                                                  | 811-04986         |
| Western Asset Municipal High Income Fund                                                      | 811-04254         |
| Franklin California Tax-Free Income Fund                                                      | 811-02790         |
| Putnam ESG Ultra Short ETF                                                                    | 811-23643         |
| Franklin LifeSmart 2040 Retirement Target Fund                                                | 811-07851         |
| Putnam Core Bond Fund (f/k/a Putnam Fixed Income Absolute Return Fund)                        | 811-07513         |
| 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 Mutual International Value Fund                                                      | 811-05387         |
| Putnam Tax Exempt Income Fund                                                                 | 811-02675         |
| Western Asset High Yield Fund                                                                 | 811-06110         |
| Franklin Multi-Asset Conservative Growth Fund                                                 | 811-06444         |
| Putnam VT Large Cap Value Fund                                                                | 811-05346         |
| Western Asset Intermediate Maturity New York Municipals Fund                                  | 811-04254         |
| Templeton Foreign Fund                                                                        | 811-02781         |
| Western Asset Mortgage Total Return Fund                                                      | 811-04254         |
| Franklin Floating Rate Master Series                                                          | 811-09869         |
| Franklin Income Fund                                                                          | 811-00537         |
| Franklin Massachusetts Tax-Free Income Fund                                                   | 811-04149         |
| Franklin Pennsylvania Tax-Free Income Fund                                                    | 811-04149         |
| Franklin Small Cap Value Fund                                                                 | 811-05878         |
| Putnam VT Sustainable Leaders Fund                                                            | 811-05346         |
| Putnam High Yield Fund                                                                        | 811-04616         |
| Franklin U.S. Government Securities Fund                                                      | 811-00537         |
| Franklin Federal Limited-Term Tax-Free Income Fund                                            | 811-04149         |
| Franklin Templeton SMACS:  Series H                                                           | 811-06243         |
| Western Asset Pennsylvania Municipals Fund                                                    | 811-04254         |
| Franklin Templeton Aggressive Model Portfolio                                                 | 811-21128         |
| Putnam Focused Equity Fund                                                                    | 811-07513         |
| Franklin VolSmart Allocation VIP Fund                                                         | 811-05583         |
| ClearBridge Variable Appreciation Portfolio                                                   | 811-21128         |
| Putnam VT Emerging Markets Equity Fund                                                        | 811-05346         |
| ClearBridge Small Cap Growth Fund                                                             | 811-06444         |
| Western Asset SMASh Series TF Fund                                                            | 811-06740         |
| Templeton Developing Markets VIP Fund                                                         | 811-05583         |
| George Putnam Balanced Fund                                                                   | 811-00058         |
| Franklin Mutual Quest Fund                                                                    | 811-05387         |
| Western Asset Short Duration High Income Fund                                                 | 811-04254         |
| ClearBridge Variable Large Cap Growth Portfolio                                               | 811-21128         |
| Franklin Small-Mid Cap Growth VIP Fund                                                        | 811-05583         |
| Western Asset Total Return ETF                                                                | 811-23096         |
| Franklin Mutual U.S. Mid Cap Value Fund                                                       | 811-05878         |
| Franklin Gold and Precious Metals Fund                                                        | 811-01700         |
| BrandywineGLOBAL - Global Opportuniites Bond Fund                                             | 811-22338         |
| Putnam Research Fund                                                                          | 811-07237         |
| Western Asset Variable Global High Yield Bond Portfolio                                       | 811-06310         |
| International Equity Series                                                                   | 811-06135         |
| Putnam Tax-Free High Yield Fund                                                               | 811-04345         |
| Western Asset Short Duration Income ETF                                                       | 811-23096         |
| Putnam Large Cap Growth Fund (f/k/a Putnam Growth Opportunities Fund)                         | 811-07237         |
| ClearBridge Tactical Dividend Income Fund                                                     | 811-06444         |
| Franklin Michigan Tax-Free Income Fund                                                        | 811-04149         |
| Templeton Growth Fund, Inc.                                                                   | 811-04892         |
| Putnam PanAgora ESG Emerging Markets Equity ETF                                               | 811-23643         |
| Franklin High Income Fund                                                                     | 811-01608         |
| Franklin Louisiana Tax-Free Income Fund                                                       | 811-04149         |
| Franklin S&P 500 Index Fund                                                                   | 811-06444         |
| Putnam VT Global Asset Allocation Fund                                                        | 811-05346         |
| Franklin Convertible Securities Fund                                                          | 811-04986         |
| Franklin Total Return Fund                                                                    | 811-04986         |
| Franklin Small-Mid Cap Growth Fund                                                            | 811-06243         |
| Western Asset Intermediate Bond Fund                                                          | 811-06110         |
| Franklin International Growth Fund                                                            | 811-10157         |
| Franklin Multi-Asset Moderate Growth Fund                                                     | 811-06444         |
| Franklin DynaTech VIP Fund                                                                    | 811-05583         |
| ClearBridge Value Fund                                                                        | 811-22338         |
| Western Asset California Municipals Fund                                                      | 811-04254         |
| Western Asset Massachusetts Municipals Fund                                                   | 811-04254         |
| Western Asset SMASh Series C Fund                                                             | 811-06740         |
| ClearBridge Variable Mid Cap Portfolio                                                        | 811-21128         |
| Franklin Income VIP Fund                                                                      | 811-05583         |
| Putnam Large Cap Value Fund                                                                   | 811-02742         |
| Franklin Templeton Conservative Model Portfolio                                               | 811-21128         |
| Franklin LifeSmart 2035 Retirement Target Fund                                                | 811-07851         |
| Putnam Dynamic Asset Allocation Balanced Fund                                                 | 811-07121         |
| Putnam VT Large Cap Growth Fund (f/k/a Putnam VT Growth Opportunities Fund)                   | 811-05346         |
| Franklin Long Duration Credit Fund                                                            | 811-04986         |
| Putnam California Tax Exempt Income Fund                                                      | 811-03630         |
| Templeton Global Smaller Companies Fund                                                       | 811-03143         |
| Franklin New York Tax-Free Income Fund                                                        | 811-03479         |
| Franklin Templeton Moderate Model Portfolio                                                   | 811-21128         |
| Franklin Maryland Tax-Free Income Fund                                                        | 811-04149         |
| ClearBridge Large Cap Value Fund                                                              | 811-06444         |
| Putnam Ultra Short Duration Income Fund                                                       | 811-07513         |
| Franklin LifeSmart 2030 Retirement Target Fund                                                | 811-07851         |
| Franklin Global Equity Fund                                                                   | 811-06444         |
| Putnam Short-Term Municipal Income Fund                                                       | 811-07513         |
| Putnam VT International Equity Fund                                                           | 811-05346         |
| Putnam Sustainable Future ETF                                                                 | 811-23643         |
| Putnam Minnesota Tax Exempt Income Fund                                                       | 811-04527         |
| Templeton Global Bond VIP Fund                                                                | 811-05583         |
| Western Asset Short Duration Municipal Income Fund                                            | 811-04254         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund                                             | 811-22338         |
| Templeton Growth VIP Fund                                                                     | 811-05583         |
| Western Asset Core Plus Bond Fund                                                             | 811-06110         |
| Franklin Mutual Beacon Fund                                                                   | 811-05387         |
| Franklin Multi-Asset Defensive Growth Fund                                                    | 811-06444         |
| Putnam ESG High Yield ETF                                                                     | 811-23643         |
| Franklin International Equity Fund (fka QS International Equity Fund)                         | 811-22338         |
| Franklin Strategic Income VIP Fund                                                            | 811-05583         |
| Franklin LifeSmart 2045 Retirement Target Fund                                                | 811-07851         |
| Putnam New York Tax Exempt Income Fund                                                        | 811-03741         |
| Templeton Emerging Markets Small Cap Fund                                                     | 811-08226         |
| Franklin Senior Loan ETF                                                                      | 811-23124         |
| Franklin Alabama Tax-Free Income Fund                                                         | 811-04149         |
| Putnam BDC Income ETF                                                                         | 811-23643         |
| Western Asset Ultra-Short Income Fund                                                         | 811-04254         |
| Putnam Sustainable Leaders ETF                                                                | 811-23643         |
| Franklin Federal Tax-Free Income Fund                                                         | 811-03395         |
| Putnam Ultra Short MAC Series                                                                 | 811-07513         |
| Franklin Colorado Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Moderate Allocation Fund                                                             | 811-07851         |
| Franklin Templeton Moderately Conservative Model Portfolio                                    | 811-21128         |
| Franklin Low Duration U.S. Government Securities Fund                                         | 811-04986         |
| Templeton Foreign VIP Fund                                                                    | 811-05583         |
| Putnam Income Fund                                                                            | 811-00653         |
| Franklin Global Real Estate VIP Fund                                                          | 811-05583         |
| Franklin Multi-Asset Variable Conservative Growth Fund                                        | 811-21128         |
| Western Asset Total Return Unconstrained Fund                                                 | 811-06110         |
| Putnam Sustainable Leaders Fund                                                               | 811-06128         |
| Western Asset Oregon Municipals Fund                                                          | 811-04254         |
| Franklin Minnesota Tax-Free Income Fund                                                       | 811-04149         |
| Franklin LifeSmart Retirement Income Fund                                                     | 811-07851         |
| Putnam VT Small Cap Growth Fund                                                               | 811-05346         |
| ClearBridge Growth Fund                                                                       | 811-06444         |
| Putnam International Equity Fund                                                              | 811-06190         |
| BrandywineGLOBAL - High Yield Fund                                                            | 811-06444         |
| Franklin LifeSmart 2055 Retirement Target Fund                                                | 811-07851         |
| Franklin Mutual Shares Fund                                                                   | 811-05387         |
| Franklin Real Estate Securities Fund                                                          | 811-08034         |
| Franklin Missouri Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Rising Dividends VIP Fund                                                            | 811-05583         |
| Franklin Equity Income Fund                                                                   | 811-04986         |
| Franklin North Carolina Tax-Free Income Fund                                                  | 811-04149         |
| Putnam Global Health Care Fund                                                                | 811-03386         |
| Putnam Mortgage Securities Fund                                                               | 811-03897         |
| Putnam Core Equity Fund (f/k/a Putnam Multi-Cap Core Fund)                                    | 811-07513         |
| Templeton Sustainable Emerging Markets Bond Fund                                              | 811-04706         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund                                        | 811-22338         |
| Putnam VT Research Fund                                                                       | 811-05346         |
| Franklin U.S. Government Securities VIP Fund                                                  | 811-05583         |
| Martin Currie SMASh Series EM Fund                                                            | 811-22338         |
| ClearBridge Large Cap Growth Fund                                                             | 811-06444         |
| Western Asset Core Plus VIT Portfolio                                                         | 811-06310         |
| Franklin Templeton SMACS:  Series CH                                                          | 811-06243         |
| Western Asset Core Bond Fund                                                                  | 811-06110         |
| Franklin Multi-Asset Variable Moderate Growth Fund                                            | 811-21128         |
| Franklin LifeSmart 2025 Retirement Target Fund                                                | 811-07851         |
| Putnam VT Diversified Income Fund                                                             | 811-05346         |
| Putnam Dynamic Asset Allocation Equity Fund                                                   | 811-07513         |
| Western Asset Short-Term Bond Fund                                                            | 811-04254         |
| Putnam PanAgora ESG International Equity ETF                                                  | 811-23643         |
| ClearBridge International Growth Fund                                                         | 811-22338         |
| Franklin California High Yield Municipal Fund                                                 | 811-06481         |
| Franklin Global Allocation Fund                                                               | 811-07851         |
| Western Asset SMASh Series Core Plus Completion                                               | 811-06740         |
| Franklin Rising Dividends Fund                                                                | 811-04894         |
| Putnam Focused Large Cap Growth ETF                                                           | 811-23643         |
| Franklin Growth Opportunities Fund                                                            | 811-06243         |
| Templeton World Fund                                                                          | 811-02781         |
| BrandywineGLOBAL - Alternative Credit Fund                                                    | 811-22338         |
| Western Asset Corporate Bond Fund                                                             | 811-04254         |
| ClearBridge Variable Dividend Strategy Portfolio                                              | 811-21128         |
| ClearBridge Select Fund                                                                       | 811-06444         |
| Martin Currie Emerging Markets Fund                                                           | 811-22338         |
| Franklin Small Cap Value VIP Fund                                                             | 811-05583         |
| Franklin High Yield Corporate ETF                                                             | 811-23124         |
| Putnam Diversified Income Trust                                                               | 811-05635         |
| Putnam VT Sustainable Future Fund                                                             | 811-05346         |
| Putnam Intermediate-Term Municipal Income Fund                                                | 811-07513         |
| Putnam Convertible Securities Fund                                                            | 811-02280         |
| Western Asset Intermediate Maturity California Municipals Fund                                | 811-04254         |
| Putnam International Capital Opportunities Fund                                               | 811-07237         |
| Putnam Short Duration Bond Fund                                                               | 811-07513         |
| Franklin California Intermediate-Term Tax-Free Income Fund                                    | 811-04356         |
| Franklin High Yield Tax-Free Income Fund                                                      | 811-04149         |
| Western Asset New Jersey Municipals Fund                                                      | 811-04254         |
| Franklin LifeSmart 2020 Retirement Target Fund                                                | 811-07851         |
| ClearBridge Global Infrastructure Income Fund                                                 | 811-22338         |
| Franklin Corefolio Allocation Fund                                                            | 811-07851         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund                                       | 811-04149         |
| Putnam Ohio Tax Exempt Income Fund                                                            | 811-04528         |
| Franklin New York Intermediate-Term Tax-Free Income Fund                                      | 811-04787         |
| Putnam VT Income Fund                                                                         | 811-05346         |
| BrandywineGLOBAL - Corporate Credit Fund                                                      | 811-06444         |
| Franklin U.S. Large Cap Equity Fund                                                           | 811-06444         |
| Putnam VT High Yield Fund                                                                     | 811-05346         |
| Putnam Dynamic Asset Allocation Growth Fund                                                   | 811-07121         |
| Franklin Templeton SMACS:  Series E                                                           | 811-06243         |
| Franklin Mutual Global Discovery VIP Fund                                                     | 811-05583         |
| Franklin LifeSmart 2050 Retirement Target Fund                                                | 811-07851         |
| Franklin Small Cap Growth Fund                                                                | 811-06243         |
| Franklin Emerging Market Debt Opportunities Fund                                              | 811-10157         |
| ClearBridge Mid Cap Fund                                                                      | 811-06444         |
| Franklin Mutual Shares VIP Fund                                                               | 811-05583         |
| Franklin Mutual Small-Mid Cap Value Fund                                                      | 811-05878         |
| Franklin Growth and Income VIP Fund                                                           | 811-05583         |
| Franklin Large Cap Growth VIP Fund                                                            | 811-05583         |
| Templeton Global Total Return Fund                                                            | 811-04706         |
| Putnam Mortgage Opportunities Fund                                                            | 811-07513         |
| Putnam Focused International Equity Fund                                                      | 811-01403         |
| Franklin Utilities Fund                                                                       | 811-00537         |
| Franklin Growth Allocation Fund                                                               | 811-07851         |
| Putnam Pennsylvania Tax Exempt Income Fund                                                    | 811-05802         |
| Western Asset SMASh Series M Fund                                                             | 811-06740         |
| ClearBridge Dividend Strategy Fund                                                            | 811-06444         |
| Putnam Focused Large Cap Value ETF                                                            | 811-23643         |
| Templeton Global Balanced Fund                                                                | 811-08226         |
| Franklin Conservative Allocation Fund                                                         | 811-07851         |
| Franklin Templeton SMACS:  Series EM                                                          | 811-08226         |
| ClearBridge Small Cap Fund                                                                    | 811-22338         |
| Western Asset Managed Municipals Fund                                                         | 811-04254         |
| K2 Alternative Strategies Fund                                                                | 811-22641         |

- **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 Managed Income Fund

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

- **a. Full Name of the Fund:** Franklin Managed Income Fund

- **b. Series identification number, if any:** S000012705

- **c. LEI:** XM9TFFPJNQZE8D26W802

- **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 R6                | C000128884                                | FBFRX                        |
|                           2 | Advisor Class           | C000034241                                | FBFZX                        |
|                           3 | Class C                 | C000034239                                | FBMCX                        |
|                           4 | Class A                 | C000034238                                | FBLAX                        |
|                           5 | Class R                 | C000034240                                | FBFQX                        |

**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:** The Bank of New York 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:** $4,134,031.91

- **g. Provide the net income from securities lending activities:** $39,709.00

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

Did the Fund rely on the following rules?

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

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

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

- Rule 6c-11 (17 CFR 270.6c-11)

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

- Rule 18f-4 (17 CFR 270.18f-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:** IHS Markit Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

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

**Pricing Services Record: 2**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **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: 3**

- **i. Full name:** LSEG US FIN CORP.

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

- **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: 4**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **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:** 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

- **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 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 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

**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:** 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:** $35,135.30

**Brokers Record: 2**

- **i. Full name of broker:** Barclays Capital, Inc.

- **ii. SEC file number:** 8-41342

- **iii. CRD number:** 000019714

- **iv. LEI, if any:** AC28XWWI3WIBK2824319

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $22,500.00

**Brokers Record: 3**

- **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:** $26,131.59

**Brokers Record: 4**

- **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:** $27,000.00

**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:** $20,991.98

**Brokers Record: 6**

- **i. Full name of broker:** Strategas Securities, LLC DBA Strategas Research Partners

- **ii. SEC file number:** 8-68138

- **iii. CRD number:** 000149326

- **iv. LEI, if any:** 254900D5NQ2O9DJLKH96

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $15,937.50

**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:** $32,700.00

**Brokers Record: 8**

- **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:** $61,313.77

**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:** $27,149.85

**Brokers Record: 10**

- **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:** $17,042.95

**Aggregate Commission:** $371,506.93

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

| Name                          | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| Citigroup Global Markets Inc. | 8-08177           |    000007059 | MBNUM2BPBDO7JBLYG310 | NY      | US        | $422,213,561.65           |
| Goldman Sachs & Co. LLC       | 8-00129           |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $149,007,942.45           |
| BNP Paribas Securities Corp.  | 8-32682           |    000015794 | RCNB6OTYUAMMP879YW96 | NY      | US        | $112,434,749.17           |
| J.P. Morgan Securities LLC    | 8-35008           |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $1,652,611,677.07         |
| Morgan Stanley & Co. LLC      | 8-15869           |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $105,331,898.80           |
| BofA Securities, Inc.         | 8-69787           |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $367,917,143.62           |
| Barclays Capital, Inc.        | 8-41342           |    000019714 | AC28XWWI3WIBK2824319 | NY      | US        | $325,623,005.28           |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $3,849,860,529.51

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

- **Item C.19.a - Fund's monthly average net assets:** $3,358,057,358.01

**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:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 3 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 4 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 5 Name of institution:** MORGAN STANLEY SENIOR FUNDING, INC.

  - **Line Institutions Record: 6 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 7 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 8 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 9 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 10 Name of institution:** CITIBANK, 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 Federal Intermediate-Term Tax-Free Income Fund                                       | 811-04149         |
| Putnam Focused Equity Fund                                                                    | 811-07513         |
| BrandywineGLOBAL - High Yield Fund                                                            | 811-06444         |
| Templeton Global Smaller Companies Fund                                                       | 811-03143         |
| Martin Currie Emerging Markets Fund                                                           | 811-22338         |
| Putnam Sustainable Leaders Fund                                                               | 811-06128         |
| Franklin LifeSmart 2060 Retirement Target Fund                                                | 811-07851         |
| Putnam Short Duration Bond Fund                                                               | 811-07513         |
| ClearBridge Sustainability Leaders Fund                                                       | 811-06444         |
| Putnam Tax Exempt Income Fund                                                                 | 811-02675         |
| Franklin Global Real Estate VIP Fund                                                          | 811-05583         |
| BrandywineGLOBAL - Flexible Bond Fund                                                         | 811-22338         |
| Franklin LifeSmart 2045 Retirement Target Fund                                                | 811-07851         |
| Franklin International Equity Fund (fka QS International Equity Fund)                         | 811-22338         |
| Franklin Templeton Conservative Model Portfolio                                               | 811-21128         |
| Franklin California Intermediate-Term Tax-Free Income Fund                                    | 811-04356         |
| Western Asset Short Duration Income ETF                                                       | 811-23096         |
| Franklin Rising Dividends Fund                                                                | 811-04894         |
| ClearBridge Large Cap Growth Fund                                                             | 811-06444         |
| Putnam Global Health Care Fund                                                                | 811-03386         |
| Franklin LifeSmart 2040 Retirement Target Fund                                                | 811-07851         |
| Western Asset SMASh Series M Fund                                                             | 811-06740         |
| Western Asset Long Credit VIT                                                                 | 811-06310         |
| Franklin North Carolina Tax-Free Income Fund                                                  | 811-04149         |
| Franklin California High Yield Municipal Fund                                                 | 811-06481         |
| Putnam Focused International Equity Fund                                                      | 811-01403         |
| International Equity Series                                                                   | 811-06135         |
| Franklin Conservative Allocation Fund                                                         | 811-07851         |
| Putnam Ultra Short MAC Series                                                                 | 811-07513         |
| Western Asset Total Return Unconstrained Fund                                                 | 811-06110         |
| Franklin Global Allocation Fund                                                               | 811-07851         |
| Putnam Sustainable Leaders ETF                                                                | 811-23643         |
| Franklin Ohio Tax-Free Income Fund                                                            | 811-04149         |
| Franklin Total Return Fund                                                                    | 811-04986         |
| Templeton Developing Markets VIP Fund                                                         | 811-05583         |
| Putnam VT Small Cap Growth Fund                                                               | 811-05346         |
| Putnam BioRevolution ETF                                                                      | 811-23643         |
| Putnam Money Market Fund                                                                      | 811-02608         |
| Franklin Multi-Asset Moderate Growth Fund                                                     | 811-06444         |
| Franklin Floating Rate Daily Access Fund                                                      | 811-04986         |
| Franklin Biotechnology Discovery Fund                                                         | 811-06243         |
| Franklin U.S. Large Cap Equity Fund                                                           | 811-06444         |
| Western Asset Ultra-Short Income Fund                                                         | 811-04254         |
| Putnam VT Sustainable Leaders Fund                                                            | 811-05346         |
| Franklin Oregon Tax-Free Income Fund                                                          | 811-04149         |
| Franklin LifeSmart 2025 Retirement Target Fund                                                | 811-07851         |
| BrandywineGLOBAL - Corporate Credit Fund                                                      | 811-06444         |
| Martin Currie SMASh Series EM Fund                                                            | 811-22338         |
| Franklin Natural Resources Fund                                                               | 811-06243         |
| Putnam Focused Large Cap Growth ETF                                                           | 811-23643         |
| ClearBridge Dividend Strategy Fund                                                            | 811-06444         |
| Franklin Small Cap Growth Fund                                                                | 811-06243         |
| ClearBridge Global Infrastructure Income Fund                                                 | 811-22338         |
| Franklin Growth and Income VIP Fund                                                           | 811-05583         |
| Franklin Mutual International Value Fund                                                      | 811-05387         |
| Putnam Diversified Income Trust                                                               | 811-05635         |
| Western Asset Mortgage Total Return Fund                                                      | 811-04254         |
| Franklin Equity Income Fund                                                                   | 811-04986         |
| Franklin Michigan Tax-Free Income Fund                                                        | 811-04149         |
| Templeton Developing Markets Trust                                                            | 811-06378         |
| ClearBridge Tactical Dividend Income Fund                                                     | 811-06444         |
| Western Asset Core Plus Bond Fund                                                             | 811-06110         |
| Franklin Gold and Precious Metals Fund                                                        | 811-01700         |
| Putnam VT Small Cap Value Fund                                                                | 811-05346         |
| Putnam Income Fund                                                                            | 811-00653         |
| BrandywineGLOBAL - Global Opportuniites Bond Fund                                             | 811-22338         |
| Franklin Growth Fund                                                                          | 811-00537         |
| Putnam Floating Rate Income Fund                                                              | 811-07513         |
| Western Asset New Jersey Municipals Fund                                                      | 811-04254         |
| Franklin Multi-Asset Variable Conservative Growth Fund                                        | 811-21128         |
| Franklin Mutual Shares Fund                                                                   | 811-05387         |
| Franklin LifeSmart 2035 Retirement Target Fund                                                | 811-07851         |
| Foreign Smaller Companies Series                                                              | 811-06135         |
| Western Asset Core Bond Fund                                                                  | 811-06110         |
| Franklin Connecticut Tax-Free Income Fund                                                     | 811-04149         |
| Templeton Growth Fund, Inc.                                                                   | 811-04892         |
| Putnam Global Income Trust                                                                    | 811-04524         |
| Franklin New York Intermediate-Term Tax-Free Income Fund                                      | 811-04787         |
| Franklin Templeton Moderate Model Portfolio                                                   | 811-21128         |
| Western Asset Massachusetts Municipals Fund                                                   | 811-04254         |
| Putnam VT Research Fund                                                                       | 811-05346         |
| Franklin Growth Opportunities Fund                                                            | 811-06243         |
| Putnam Mortgage Opportunities Fund                                                            | 811-07513         |
| Franklin Virginia Tax-Free Income Fund                                                        | 811-04149         |
| Putnam Strategic Intermediate Municipal Fund                                                  | 811-04345         |
| ClearBridge Small Cap Growth Fund                                                             | 811-06444         |
| Franklin Growth Allocation Fund                                                               | 811-07851         |
| Franklin Multi-Asset Variable Growth Fund                                                     | 811-21128         |
| Franklin New Jersey Tax-Free Income Fund                                                      | 811-04149         |
| Western Asset California Municipals Fund                                                      | 811-04254         |
| Franklin Core Plus Bond Fund                                                                  | 811-06243         |
| Franklin LifeSmart 2050 Retirement Target Fund                                                | 811-07851         |
| ClearBridge Variable Small Cap Growth Portfolio                                               | 811-21128         |
| Franklin Mutual Beacon Fund                                                                   | 811-05387         |
| Franklin Multi-Asset Growth Fund                                                              | 811-06444         |
| Franklin International Growth Fund                                                            | 811-10157         |
| ClearBridge Select Fund                                                                       | 811-06444         |
| Putnam Pennsylvania Tax Exempt Income Fund                                                    | 811-05802         |
| ClearBridge Mid Cap Growth Fund                                                               | 811-06444         |
| Templeton Foreign Fund                                                                        | 811-02781         |
| Western Asset SMASh Series C Fund                                                             | 811-06740         |
| Western Asset SMASh Series Core Completion Fund                                               | 811-06740         |
| Franklin California Tax-Free Income Fund                                                      | 811-02790         |
| Franklin Strategic Mortgage Portfolio                                                         | 811-07288         |
| Franklin Templeton SMACS:  Series I                                                           | 811-06243         |
| Putnam VT Global Asset Allocation Fund                                                        | 811-05346         |
| ClearBridge International Growth Fund                                                         | 811-22338         |
| ClearBridge Variable Growth Portfolio                                                         | 811-21128         |
| Templeton Global Balanced Fund                                                                | 811-08226         |
| Western Asset New York Municipals Fund                                                        | 811-04254         |
| ClearBridge Variable Large Cap Value Portfolio                                                | 811-21128         |
| Western Asset Managed Municipals Fund                                                         | 811-04254         |
| Putnam VT Large Cap Growth Fund (f/k/a Putnam VT Growth Opportunities Fund)                   | 811-05346         |
| K2 Alternative Strategies Fund                                                                | 811-22641         |
| Franklin Rising Dividends VIP Fund                                                            | 811-05583         |
| Putnam High Yield Fund                                                                        | 811-04616         |
| Franklin Moderate Allocation Fund                                                             | 811-07851         |
| Western Asset SMASh Series TF Fund                                                            | 811-06740         |
| Franklin DynaTech VIP Fund                                                                    | 811-05583         |
| Franklin Strategic Income VIP Fund                                                            | 811-05583         |
| Putnam Mortgage Securities Fund                                                               | 811-03897         |
| Western Asset Variable Global High Yield Bond Portfolio                                       | 811-06310         |
| Western Asset Corporate Bond Fund                                                             | 811-04254         |
| Putnam VT Focused International Equity Fund                                                   | 811-05346         |
| Franklin Corefolio Allocation Fund                                                            | 811-07851         |
| Franklin High Yield Tax-Free Income Fund                                                      | 811-04149         |
| Putnam International Value Fund                                                               | 811-07513         |
| Western Asset Municipal High Income Fund                                                      | 811-04254         |
| Putnam VT International Equity Fund                                                           | 811-05346         |
| Western Asset Pennsylvania Municipals Fund                                                    | 811-04254         |
| Western Asset Total Return ETF                                                                | 811-23096         |
| Franklin Allocation VIP Fund (f/k/a Franklin Founding Funds Allocation VIP Fund)              | 811-05583         |
| Franklin Templeton SMACS:  Series CH                                                          | 811-06243         |
| Franklin LifeSmart 2055 Retirement Target Fund                                                | 811-07851         |
| Putnam Multi-Asset Income Fund                                                                | 811-07121         |
| Franklin High Income Fund                                                                     | 811-01608         |
| Franklin Alabama Tax-Free Income Fund                                                         | 811-04149         |
| Franklin U.S. Government Securities Fund                                                      | 811-00537         |
| Putnam Ultra Short Duration Income Fund                                                       | 811-07513         |
| Franklin LifeSmart 2020 Retirement Target Fund                                                | 811-07851         |
| Putnam VT Sustainable Future Fund                                                             | 811-05346         |
| Putnam Short-Term Municipal Income Fund                                                       | 811-07513         |
| Putnam Core Bond Fund (f/k/a Putnam Fixed Income Absolute Return Fund)                        | 811-07513         |
| Franklin Mutual Shares VIP Fund                                                               | 811-05583         |
| Putnam VT Large Cap Value Fund                                                                | 811-05346         |
| Putnam Convertible Securities Fund                                                            | 811-02280         |
| Putnam Core Equity Fund (f/k/a Putnam Multi-Cap Core Fund)                                    | 811-07513         |
| Putnam Sustainable Future ETF                                                                 | 811-23643         |
| ClearBridge Variable Large Cap Growth Portfolio                                               | 811-21128         |
| Franklin Pennsylvania Tax-Free Income Fund                                                    | 811-04149         |
| Putnam VT Income Fund                                                                         | 811-05346         |
| Putnam BDC Income ETF                                                                         | 811-23643         |
| Putnam VT George Putnam Balanced Fund                                                         | 811-05346         |
| Franklin Low Duration Total Return Fund                                                       | 811-04986         |
| Franklin Templeton SMACS:  Series H                                                           | 811-06243         |
| Putnam Large Cap Value Fund                                                                   | 811-02742         |
| Putnam New Jersey Tax Exempt Income Fund                                                      | 811-05977         |
| Franklin Templeton Aggressive Model Portfolio                                                 | 811-21128         |
| Franklin DynaTech Fund                                                                        | 811-00537         |
| Franklin Multi-Asset Conservative Growth Fund                                                 | 811-06444         |
| Western Asset Core Plus VIT Portfolio                                                         | 811-06310         |
| Putnam ESG Core Bond ETF                                                                      | 811-23643         |
| Franklin Floating Rate Master Series                                                          | 811-09869         |
| Putnam Dynamic Asset Allocation Balanced Fund                                                 | 811-07121         |
| Templeton Global Bond VIP Fund                                                                | 811-05583         |
| Putnam VT International Value Fund                                                            | 811-05346         |
| Franklin Mutual U.S. Mid Cap Value Fund                                                       | 811-05878         |
| Putnam PanAgora ESG Emerging Markets Equity ETF                                               | 811-23643         |
| Franklin Real Estate Securities Fund                                                          | 811-08034         |
| Franklin LifeSmart Retirement Income Fund                                                     | 811-07851         |
| ClearBridge Variable Mid Cap Portfolio                                                        | 811-21128         |
| Franklin Mutual Global Discovery Fund                                                         | 811-05387         |
| Putnam Massachusetts Tax Exempt Income Fund                                                   | 811-04518         |
| Putnam Large Cap Growth Fund (f/k/a Putnam Growth Opportunities Fund)                         | 811-07237         |
| Franklin Small Cap Value Fund                                                                 | 811-05878         |
| Franklin Convertible Securities Fund                                                          | 811-04986         |
| Putnam VT Mortgage Securities Fund                                                            | 811-05346         |
| Putnam Research Fund                                                                          | 811-07237         |
| Putnam Global Technology Fund                                                                 | 811-07513         |
| Franklin S&P 500 Index Fund                                                                   | 811-06444         |
| Franklin Multi-Asset Variable Moderate Growth Fund                                            | 811-21128         |
| Franklin Arizona Tax-Free Income Fund                                                         | 811-04149         |
| Putnam ESG Ultra Short ETF                                                                    | 811-23643         |
| Putnam VT Government Money Market Fund                                                        | 811-05346         |
| Putnam VT High Yield Fund                                                                     | 811-05346         |
| Western Asset Inflation Indexed Plus Bond Fund                                                | 811-06110         |
| Putnam ESG High Yield ETF                                                                     | 811-23643         |
| Western Asset Bond ETF                                                                        | 811-23124         |
| Franklin Federal Tax-Free Income Fund                                                         | 811-03395         |
| Franklin Low Duration U.S. Government Securities Fund                                         | 811-04986         |
| Franklin Mutual Global Discovery VIP Fund                                                     | 811-05583         |
| BrandywineGLOBAL - Alternative Credit Fund                                                    | 811-22338         |
| Western Asset Intermediate Maturity New York Municipals Fund                                  | 811-04254         |
| Franklin Colorado Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Templeton SMACS:  Series E                                                           | 811-06243         |
| Putnam Minnesota Tax Exempt Income Fund                                                       | 811-04527         |
| Franklin Mutual Quest Fund                                                                    | 811-05387         |
| Franklin LifeSmart 2030 Retirement Target Fund                                                | 811-07851         |
| Franklin Income VIP Fund                                                                      | 811-05583         |
| Franklin Long Duration Credit Fund                                                            | 811-04986         |
| ClearBridge Growth Fund                                                                       | 811-06444         |
| Franklin Maryland Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Templeton Moderately Conservative Model Portfolio                                    | 811-21128         |
| Templeton Global Bond Fund                                                                    | 811-04706         |
| Templeton International Bond Fund                                                             | 811-04706         |
| Franklin Emerging Market Debt Opportunities Fund                                              | 811-10157         |
| Putnam VT Core Equity Fund (f/k/a Putnam VT Multi-Cap Core Fund)                              | 811-05346         |
| Western Asset Income Fund                                                                     | 811-04254         |
| Franklin Small Cap Value VIP Fund                                                             | 811-05583         |
| Putnam VT Emerging Markets Equity Fund                                                        | 811-05346         |
| Templeton World Fund                                                                          | 811-02781         |
| Putnam VT Diversified Income Fund                                                             | 811-05346         |
| Franklin Minnesota Tax-Free Income Fund                                                       | 811-04149         |
| Franklin Utilities Fund                                                                       | 811-00537         |
| Putnam VT Global Health Care Fund                                                             | 811-05346         |
| Franklin Small-Mid Cap Growth VIP Fund                                                        | 811-05583         |
| Franklin U.S. Government Securities VIP Fund                                                  | 811-05583         |
| ClearBridge Mid Cap Fund                                                                      | 811-06444         |
| Franklin U.S. Small Capitalization Equity Fund (fka QS U.S. Small Capitalization Equity Fund) | 811-22338         |
| Putnam Ohio Tax Exempt Income Fund                                                            | 811-04528         |
| Putnam International Capital Opportunities Fund                                               | 811-07237         |
| Franklin Missouri Tax-Free Income Fund                                                        | 811-04149         |
| Putnam Emerging Markets Equity Fund                                                           | 811-07513         |
| Western Asset Short Duration High Income Fund                                                 | 811-04254         |
| ClearBridge Variable Appreciation Portfolio                                                   | 811-21128         |
| Franklin Small-Mid Cap Growth Fund                                                            | 811-06243         |
| Templeton Sustainable Emerging Markets Bond Fund                                              | 811-04706         |
| Franklin Large Cap Growth VIP Fund                                                            | 811-05583         |
| Putnam Intermediate-Term Municipal Income Fund                                                | 811-07513         |
| Western Asset Short Duration Municipal Income Fund                                            | 811-04254         |
| Franklin Multi-Asset Defensive Growth Fund                                                    | 811-06444         |
| Putnam PanAgora ESG International Equity ETF                                                  | 811-23643         |
| Putnam Sustainable Future Fund                                                                | 811-07237         |
| Franklin Income Fund                                                                          | 811-00537         |
| Western Asset Intermediate Bond Fund                                                          | 811-06110         |
| Putnam Dynamic Asset Allocation Conservative Fund                                             | 811-07121         |
| George Putnam Balanced Fund                                                                   | 811-00058         |
| Putnam International Equity Fund                                                              | 811-06190         |
| Putnam California Tax Exempt Income Fund                                                      | 811-03630         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund                                             | 811-22338         |
| Putnam Emerging Markets Ex-China ETF                                                          | 811-23643         |
| Franklin Global Equity Fund                                                                   | 811-06444         |
| Putnam Dynamic Asset Allocation Growth Fund                                                   | 811-07121         |
| Franklin High Yield Corporate ETF                                                             | 811-23124         |
| ClearBridge International Value Fund                                                          | 811-06444         |
| ClearBridge Appreciation Fund                                                                 | 811-06444         |
| Western Asset Short-Term Bond Fund                                                            | 811-04254         |
| Putnam Small Cap Value Fund                                                                   | 811-07237         |
| Franklin Federal Limited-Term Tax-Free Income Fund                                            | 811-04149         |
| Putnam Tax-Free High Yield Fund                                                               | 811-04345         |
| Franklin Massachusetts Tax-Free Income Fund                                                   | 811-04149         |
| ClearBridge Small Cap Fund                                                                    | 811-22338         |
| Franklin Georgia Tax-Free Income Fund                                                         | 811-04149         |
| Putnam Dynamic Asset Allocation Equity Fund                                                   | 811-07513         |
| Western Asset SMASh Series Core Plus Completion                                               | 811-06740         |
| Western Asset Oregon Municipals Fund                                                          | 811-04254         |
| Franklin Templeton SMACS:  Series EM                                                          | 811-08226         |
| Putnam Small Cap Growth Fund                                                                  | 811-07513         |
| Franklin New York Tax-Free Income Fund                                                        | 811-03479         |
| Templeton Emerging Markets Small Cap Fund                                                     | 811-08226         |
| Franklin Mutual Small-Mid Cap Value Fund                                                      | 811-05878         |
| Templeton Growth VIP Fund                                                                     | 811-05583         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund                                        | 811-22338         |
| Western Asset Intermediate Maturity California Municipals Fund                                | 811-04254         |
| Franklin Louisiana Tax-Free Income Fund                                                       | 811-04149         |
| ClearBridge Large Cap Value Fund                                                              | 811-06444         |
| Templeton Foreign VIP Fund                                                                    | 811-05583         |
| Putnam Government Money Market Fund                                                           | 811-07237         |
| Franklin Senior Loan ETF                                                                      | 811-23124         |
| Putnam New York Tax Exempt Income Fund                                                        | 811-03741         |
| ClearBridge Value Fund                                                                        | 811-22338         |
| Western Asset High Yield Fund                                                                 | 811-06110         |
| Western Asset Intermediate-Term Municipals Fund                                               | 811-04254         |
| Franklin VolSmart Allocation VIP Fund                                                         | 811-05583         |
| Putnam Focused Large Cap Value ETF                                                            | 811-23643         |
| Templeton Global Total Return Fund                                                            | 811-04706         |
| ClearBridge Variable Dividend Strategy Portfolio                                              | 811-21128         |
| Franklin Templeton Moderately 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: 4 - Franklin Long Duration Credit Fund

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

- **a. Full Name of the Fund:** Franklin Long Duration Credit Fund

- **b. Series identification number, if any:** S000081420

- **c. LEI:** 254900XNNAITZ99SQG23

- **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 R6                | C000244290                                | FLDBX                        |

**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?** No

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $0.00

- **g. Provide the net income from securities lending activities:** $0.00

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

Did the Fund rely on the following rules?

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

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

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

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

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

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

- Rule 6c-11 (17 CFR 270.6c-11)

**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 Templeton Institutional, LLC

- **ii. SEC file number:** 801-60684

- **iii. CRD number:** 000117384

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

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

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

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

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

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

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

- **iii. CRD number:** 000104517

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

- **v. Is the sub-adviser an affiliated person?:** Yes

**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

- **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)

- **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

- **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 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 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 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

**Item C.16. Brokers.**

No Brokers reported.

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

| Name                          | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| Goldman Sachs & Co. LLC       | 8-00129           |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $4,355,038.22             |
| BNP Paribas Securities Corp.  | 8-32682           |    000015794 | RCNB6OTYUAMMP879YW96 | NY      | US        | $1,958,402.91             |
| BofA Securities, Inc.         | 8-69787           |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $5,266,409.35             |
| Citigroup Global Markets Inc. | 8-08177           |    000007059 | MBNUM2BPBDO7JBLYG310 | NY      | US        | $3,347,896.47             |
| Barclays Capital, Inc.        | 8-41342           |    000019714 | AC28XWWI3WIBK2824319 | NY      | US        | $2,410,803.63             |
| Morgan Stanley & Co. LLC      | 8-15869           |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $4,767,175.25             |
| J.P. Morgan Securities LLC    | 8-35008           |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $37,275,709.61            |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $99,067,205.67

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** No

- **Item C.19.a - Fund's monthly average net assets:** $72,212,543.87

**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:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 2 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 3 Name of institution:** JPMORGAN CHASE BANK, N.A.

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

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

  - **Line Institutions Record: 6 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 7 Name of institution:** MORGAN STANLEY SENIOR FUNDING, INC.

  - **Line Institutions Record: 8 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 9 Name of institution:** GOLDMAN SACHS BANK USA

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

- **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 Equity Income Fund

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

- **a. Full Name of the Fund:** Franklin Equity Income Fund

- **b. Series identification number, if any:** S000006852

- **c. LEI:** 549300NQIOLSX881UZ17

- **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           | C000064443                                | FEIFX                        |
|                           2 | Class A                 | C000018513                                | FISEX                        |
|                           3 | Class R6                | C000128878                                | FEIQX                        |
|                           4 | Class R                 | C000018516                                | FREIX                        |
|                           5 | Class C                 | C000018515                                | FRETX                        |

**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

**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:** The Bank of New York 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:** $0.00

- **g. Provide the net income from securities lending activities:** $0.00

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

- Rule 6c-11 (17 CFR 270.6c-11)

- 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)

**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:** IHS Markit Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

- **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 US FIN CORP.

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

- **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

- **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 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:** 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:** $25,201.88

**Brokers Record: 2**

- **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:** $22,377.70

**Brokers Record: 3**

- **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:** $28,463.13

**Brokers Record: 4**

- **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:** $33,394.38

**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:** $59,721.79

**Brokers Record: 6**

- **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:** $22,473.01

**Brokers Record: 7**

- **i. Full name of broker:** Allen & Company LLC

- **ii. SEC file number:** 8-12123

- **iii. CRD number:** 000001042

- **iv. LEI, if any:** 549300RO3RYDN328JY68

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $21,951.92

**Brokers Record: 8**

- **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:** $21,566.14

**Brokers Record: 9**

- **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:** $37,178.80

**Brokers Record: 10**

- **i. Full name of broker:** Piper Sandler & Co.

- **ii. SEC file number:** 8-15204

- **iii. CRD number:** 000000665

- **iv. LEI, if any:** 549300GRQCWQ3XGH0H10

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $27,306.25

**Aggregate Commission:** $485,829.63

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

| Name                          | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| J.P. Morgan Securities LLC    | 8-35008           |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $1,872,393,629.72         |
| Citigroup Global Markets Inc. | 8-08177           |    000007059 | MBNUM2BPBDO7JBLYG310 | NY      | US        | $97,700,229.70            |
| Wells Fargo Securities, LLC   | 8-65876           |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $72,611,016.54            |
| RBC Capital Markets, LLC      | 8-45411           |    000031194 | 549300LCO2FLSSVFFR64 | NY      | US        | $94,572,435.05            |
| Mizuho Securities USA LLC     | 8-37710           |    000019647 | 7TK5RJIZDFROZCA6XF66 | NY      | US        | $48,162,705.00            |
| TD SECURITIES (USA) LLC       | 8-36747           |    000018476 | SUVUFHICNZMP2WKHG940 | NY      | US        | $86,536,556.22            |
| Barclays Capital, Inc.        | 8-41342           |    000019714 | AC28XWWI3WIBK2824319 | NY      | US        | $68,567,771.80            |
| BofA Securities, Inc.         | 8-69787           |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $75,235,307.03            |
| Goldman Sachs & Co. LLC       | 8-00129           |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $63,863,418.58            |
| Jefferies LLC                 | 8-15074           |    000002347 | 58PU97L1C0WSRCWADL48 | NY      | US        | $44,864,098.40            |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $2,549,862,074.44

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

- **Item C.19.a - Fund's monthly average net assets:** $4,249,707,874.39

**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:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 2 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 3 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 4 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 5 Name of institution:** DEUTSCHE BANK SECURITIES INC.

  - **Line Institutions Record: 6 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 7 Name of institution:** CITIBANK, N.A.

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

  - **Line Institutions Record: 9 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 10 Name of institution:** GOLDMAN SACHS BANK USA

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

- **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 Low Duration Total Return Fund

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

- **a. Full Name of the Fund:** Franklin Low Duration Total Return Fund

- **b. Series identification number, if any:** S000006855

- **c. LEI:** H1JJYRV86MLGMEZLFG42

- **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 R6                | C000128881                                | FLRRX                        |
|                           2 | Class C                 | C000120960                                | FLDCX                        |
|                           3 | Advisor Class           | C000064444                                | FLDZX                        |
|                           4 | Class A                 | C000018523                                | FLDAX                        |
|                           5 | Class R                 | C000215060                                | FLDRX                        |

**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:** The Bank of New York 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:** $574,462.12

- **g. Provide the net income from securities lending activities:** $26,848.00

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

Did the Fund rely on the following rules?

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

- Rule 6c-11 (17 CFR 270.6c-11)

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

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

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

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

- 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 US FIN CORP.

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

- **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: 2**

- **i. Full name:** IHS Markit Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

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

**Pricing Services Record: 3**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **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:** PricingDirect Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **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: 5**

- **i. Full name:** Kroll, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 549300W01Z54L5RHPJ40

- **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: 6**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **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:** 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))

**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))

**Custodians Record: 3**

- **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: 4**

- **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))

- **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

- **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:** 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:** $47,895.27

**Aggregate Commission:** $47,895.27

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

| Name                          | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| HSBC Securities (USA) Inc.    | 8-41562           |    000019585 | CYYGQCGNHMHPSMRL3R97 | NY      | US        | $1,155,637,003.98         |
| Morgan Stanley & Co. LLC      | 8-15869           |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $300,001,596.87           |
| Deutsche Bank Securities Inc. | 8-17822           |    000002525 | 9J6MBOOO7BECTDTUZW19 | NY      | US        | $446,909,725.45           |
| J.P. Morgan Securities LLC    | 8-35008           |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $5,869,594,368.89         |
| BNP Paribas Securities Corp.  | 8-32682           |    000015794 | RCNB6OTYUAMMP879YW96 | NY      | US        | $1,627,945,429.35         |
| TD SECURITIES (USA) LLC       | 8-36747           |    000018476 | SUVUFHICNZMP2WKHG940 | NY      | US        | $63,698,847.93            |
| Citigroup Global Markets Inc. | 8-08177           |    000007059 | MBNUM2BPBDO7JBLYG310 | NY      | US        | $116,521,769.13           |
| Barclays Capital, Inc.        | 8-41342           |    000019714 | AC28XWWI3WIBK2824319 | NY      | US        | $94,566,005.11            |
| Goldman Sachs & Co. LLC       | 8-00129           |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $224,626,677.52           |
| BofA Securities, Inc.         | 8-69787           |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $118,165,068.55           |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $10,475,324,539.53

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** No

- **Item C.19.a - Fund's monthly average net assets:** $1,958,120,198.58

**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:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 2 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 3 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 4 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 5 Name of institution:** MORGAN STANLEY SENIOR FUNDING, INC.

  - **Line Institutions Record: 6 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 7 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 8 Name of institution:** DEUTSCHE BANK SECURITIES INC.

  - **Line Institutions Record: 9 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 10 Name of institution:** THE BANK OF NEW YORK MELLON

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

- **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: 7 - Franklin Convertible Securities Fund

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

- **a. Full Name of the Fund:** Franklin Convertible Securities Fund

- **b. Series identification number, if any:** S000006851

- **c. LEI:** 549300BRH1RGTXGVLY98

- **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 R6                | C000141439                                | FCSKX                        |
|                           2 | Class A                 | C000018511                                | FISCX                        |
|                           3 | Advisor Class           | C000064442                                | FCSZX                        |
|                           4 | Class C                 | C000018512                                | FROTX                        |

**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:** The Bank of New York 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:** $1,089,502.59

- **g. Provide the net income from securities lending activities:** $41,752.00

**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 6c-11 (17 CFR 270.6c-11)

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

- Rule 32a-4 (17 CFR 270.32a-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:** 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:** IHS Markit Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

- **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 US FIN CORP.

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

- **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:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **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:** 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

- **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 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:** 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:** $8,474.85

**Brokers Record: 2**

- **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:** TN

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $269.50

**Brokers Record: 3**

- **i. Full name of broker:** Virtu Americas LLC

- **ii. SEC file number:** 8-68193

- **iii. CRD number:** 000149823

- **iv. LEI, if any:** 549300RA02N3BNSWBV74

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $720.98

**Brokers Record: 4**

- **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:** $196.68

**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:** $15,000.00

**Brokers Record: 6**

- **i. Full name of broker:** National Financial Services LLC

- **ii. SEC file number:** 8-26740

- **iii. CRD number:** 000013041

- **iv. LEI, if any:** 549300JRHF1MHHWUAW04

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $107.25

**Brokers Record: 7**

- **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:** $10,116.64

**Aggregate Commission:** $34,885.90

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

| Name                             | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| Morgan Stanley & Co. LLC         | 8-15869           | 000008209    | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $93,144,392.00            |
| Mizuho Securities USA LLC        | 8-37710           | 000019647    | 7TK5RJIZDFROZCA6XF66 | NY      | US        | $50,332,944.50            |
| UBS Securities LLC               | 8-22651           | 000007654    | T6FIZBDPKLYJKFCRVK44 | NY      | US        | $40,276,488.10            |
| BofA Securities, Inc.            | 8-69787           | 000283942    | 549300HN4UKV1E2R3U73 | NY      | US        | $129,501,819.20           |
| Citigroup Global Markets Inc.    | 8-08177           | 000007059    | MBNUM2BPBDO7JBLYG310 | NY      | US        | $43,600,000.00            |
| TD SECURITIES (USA) LLC          | 8-36747           | 000018476    | SUVUFHICNZMP2WKHG940 | NY      | US        | $32,697,150.00            |
| SANTANDER INVESTMENT S.A.        | N/A               | N/A          | 959800PF0SJV8TSAB140 |  |  | $37,798,090.00            |
| Raymond James & Associates, Inc. | 8-10999           | 000000705    | U4ONQX15J3RO8XCKE979 | FL      | US        | $55,480,000.00            |
| Goldman Sachs & Co. LLC          | 8-00129           | 000000361    | FOR8UP27PHTHYVLBNG30 | NY      | US        | $251,544,858.60           |
| J.P. Morgan Securities LLC       | 8-35008           | 000000079    | ZBUT11V806EZRVTWT807 | NY      | US        | $1,991,227,656.00         |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $2,817,603,507.86

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

- **Item C.19.a - Fund's monthly average net assets:** $2,849,786,365.41

**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:** BANK OF AMERICA, N.A.

  - **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:** DEUTSCHE BANK SECURITIES INC.

  - **Line Institutions Record: 5 Name of institution:** HSBC BANK USA, 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:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 9 Name of institution:** CITIBANK, 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   |
|:---|:---|
| ClearBridge Value Fund                                                                        | 811-22338         |
| Putnam Tax Exempt Income Fund                                                                 | 811-02675         |
| Franklin LifeSmart 2030 Retirement Target Fund                                                | 811-07851         |
| Franklin Multi-Asset Variable Growth Fund                                                     | 811-21128         |
| Western Asset Total Return ETF                                                                | 811-23096         |
| Franklin LifeSmart 2040 Retirement Target Fund                                                | 811-07851         |
| ClearBridge Mid Cap Fund                                                                      | 811-06444         |
| Martin Currie SMASh Series EM Fund                                                            | 811-22338         |
| Franklin Growth Opportunities Fund                                                            | 811-06243         |
| Putnam Ohio Tax Exempt Income Fund                                                            | 811-04528         |
| Franklin Small Cap Growth Fund                                                                | 811-06243         |
| Putnam ESG High Yield ETF                                                                     | 811-23643         |
| Franklin Mutual Quest Fund                                                                    | 811-05387         |
| Franklin Long Duration Credit Fund                                                            | 811-04986         |
| Franklin Global Equity Fund                                                                   | 811-06444         |
| Franklin Mutual International Value Fund                                                      | 811-05387         |
| Putnam Convertible Securities Fund                                                            | 811-02280         |
| Franklin Low Duration U.S. Government Securities Fund                                         | 811-04986         |
| Franklin VolSmart Allocation VIP Fund                                                         | 811-05583         |
| Franklin Massachusetts Tax-Free Income Fund                                                   | 811-04149         |
| Franklin Templeton Conservative Model Portfolio                                               | 811-21128         |
| ClearBridge Variable Appreciation Portfolio                                                   | 811-21128         |
| Franklin High Income Fund                                                                     | 811-01608         |
| Putnam New York Tax Exempt Income Fund                                                        | 811-03741         |
| Western Asset Variable Global High Yield Bond Portfolio                                       | 811-06310         |
| Franklin Income VIP Fund                                                                      | 811-05583         |
| Putnam Small Cap Value Fund                                                                   | 811-07237         |
| Putnam Research Fund                                                                          | 811-07237         |
| BrandywineGLOBAL - Global Opportuniites Bond Fund                                             | 811-22338         |
| ClearBridge Small Cap Fund                                                                    | 811-22338         |
| Putnam BioRevolution ETF                                                                      | 811-23643         |
| Putnam Massachusetts Tax Exempt Income Fund                                                   | 811-04518         |
| Western Asset Inflation Indexed Plus Bond Fund                                                | 811-06110         |
| Putnam Mortgage Opportunities Fund                                                            | 811-07513         |
| ClearBridge Appreciation Fund                                                                 | 811-06444         |
| Foreign Smaller Companies Series                                                              | 811-06135         |
| Franklin Mutual Shares Fund                                                                   | 811-05387         |
| Putnam Intermediate-Term Municipal Income Fund                                                | 811-07513         |
| Franklin Small Cap Value Fund                                                                 | 811-05878         |
| ClearBridge Tactical Dividend Income Fund                                                     | 811-06444         |
| Western Asset Short Duration Municipal Income Fund                                            | 811-04254         |
| Franklin Templeton Moderate Model Portfolio                                                   | 811-21128         |
| Franklin Mutual Shares VIP Fund                                                               | 811-05583         |
| Western Asset Short Duration High Income Fund                                                 | 811-04254         |
| ClearBridge Growth Fund                                                                       | 811-06444         |
| Franklin U.S. Large Cap Equity Fund                                                           | 811-06444         |
| Putnam VT George Putnam Balanced Fund                                                         | 811-05346         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund                                       | 811-04149         |
| Franklin Multi-Asset Conservative Growth Fund                                                 | 811-06444         |
| Putnam Sustainable Leaders Fund                                                               | 811-06128         |
| Franklin Louisiana Tax-Free Income Fund                                                       | 811-04149         |
| ClearBridge International Growth Fund                                                         | 811-22338         |
| Western Asset Municipal High Income Fund                                                      | 811-04254         |
| Putnam Diversified Income Trust                                                               | 811-05635         |
| Western Asset SMASh Series TF Fund                                                            | 811-06740         |
| Franklin Gold and Precious Metals Fund                                                        | 811-01700         |
| Franklin LifeSmart 2020 Retirement Target Fund                                                | 811-07851         |
| Franklin Conservative Allocation Fund                                                         | 811-07851         |
| Putnam Focused Large Cap Growth ETF                                                           | 811-23643         |
| Putnam Dynamic Asset Allocation Equity Fund                                                   | 811-07513         |
| Franklin Virginia Tax-Free Income Fund                                                        | 811-04149         |
| Putnam VT Large Cap Growth Fund (f/k/a Putnam VT Growth Opportunities Fund)                   | 811-05346         |
| Templeton Growth VIP Fund                                                                     | 811-05583         |
| Western Asset Oregon Municipals Fund                                                          | 811-04254         |
| Franklin Income Fund                                                                          | 811-00537         |
| Franklin Global Real Estate VIP Fund                                                          | 811-05583         |
| Franklin LifeSmart 2055 Retirement Target Fund                                                | 811-07851         |
| Franklin Pennsylvania Tax-Free Income Fund                                                    | 811-04149         |
| Franklin Federal Tax-Free Income Fund                                                         | 811-03395         |
| Putnam VT Focused International Equity Fund                                                   | 811-05346         |
| Putnam VT Income Fund                                                                         | 811-05346         |
| Putnam Emerging Markets Ex-China ETF                                                          | 811-23643         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund                                             | 811-22338         |
| Templeton World Fund                                                                          | 811-02781         |
| Putnam Ultra Short MAC Series                                                                 | 811-07513         |
| Franklin North Carolina Tax-Free Income Fund                                                  | 811-04149         |
| Western Asset Intermediate Maturity California Municipals Fund                                | 811-04254         |
| Franklin Strategic Income VIP Fund                                                            | 811-05583         |
| ClearBridge Variable Large Cap Value Portfolio                                                | 811-21128         |
| Western Asset Short-Term Bond Fund                                                            | 811-04254         |
| Western Asset Core Plus VIT Portfolio                                                         | 811-06310         |
| Putnam Money Market Fund                                                                      | 811-02608         |
| Putnam VT Small Cap Growth Fund                                                               | 811-05346         |
| Franklin Templeton Aggressive Model Portfolio                                                 | 811-21128         |
| Western Asset SMASh Series C Fund                                                             | 811-06740         |
| Putnam International Capital Opportunities Fund                                               | 811-07237         |
| Putnam ESG Ultra Short ETF                                                                    | 811-23643         |
| Franklin Floating Rate Master Series                                                          | 811-09869         |
| Franklin Maryland Tax-Free Income Fund                                                        | 811-04149         |
| Franklin New York Tax-Free Income Fund                                                        | 811-03479         |
| Franklin Mutual Global Discovery Fund                                                         | 811-05387         |
| Putnam VT Government Money Market Fund                                                        | 811-05346         |
| Putnam Strategic Intermediate Municipal Fund                                                  | 811-04345         |
| Franklin Total Return Fund                                                                    | 811-04986         |
| Franklin Multi-Asset Variable Moderate Growth Fund                                            | 811-21128         |
| Putnam Pennsylvania Tax Exempt Income Fund                                                    | 811-05802         |
| Putnam VT Mortgage Securities Fund                                                            | 811-05346         |
| Putnam VT Emerging Markets Equity Fund                                                        | 811-05346         |
| Putnam Ultra Short Duration Income Fund                                                       | 811-07513         |
| Western Asset Income Fund                                                                     | 811-04254         |
| Franklin Core Plus Bond Fund                                                                  | 811-06243         |
| Franklin LifeSmart 2050 Retirement Target Fund                                                | 811-07851         |
| Putnam VT International Value Fund                                                            | 811-05346         |
| Franklin Global Allocation Fund                                                               | 811-07851         |
| Franklin U.S. Government Securities VIP Fund                                                  | 811-05583         |
| Franklin LifeSmart 2035 Retirement Target Fund                                                | 811-07851         |
| Franklin Small Cap Value VIP Fund                                                             | 811-05583         |
| BrandywineGLOBAL - High Yield Fund                                                            | 811-06444         |
| Putnam Short-Term Municipal Income Fund                                                       | 811-07513         |
| Franklin Senior Loan ETF                                                                      | 811-23124         |
| Franklin Allocation VIP Fund (f/k/a Franklin Founding Funds Allocation VIP Fund)              | 811-05583         |
| Putnam Sustainable Future Fund                                                                | 811-07237         |
| Franklin LifeSmart Retirement Income Fund                                                     | 811-07851         |
| Putnam Large Cap Growth Fund (f/k/a Putnam Growth Opportunities Fund)                         | 811-07237         |
| Putnam Income Fund                                                                            | 811-00653         |
| Putnam VT Global Asset Allocation Fund                                                        | 811-05346         |
| Putnam High Yield Fund                                                                        | 811-04616         |
| Franklin Connecticut Tax-Free Income Fund                                                     | 811-04149         |
| Putnam New Jersey Tax Exempt Income Fund                                                      | 811-05977         |
| ClearBridge Variable Dividend Strategy Portfolio                                              | 811-21128         |
| Franklin High Yield Corporate ETF                                                             | 811-23124         |
| Franklin Real Estate Securities Fund                                                          | 811-08034         |
| Putnam VT Research Fund                                                                       | 811-05346         |
| Putnam Large Cap Value Fund                                                                   | 811-02742         |
| Western Asset Intermediate Maturity New York Municipals Fund                                  | 811-04254         |
| Putnam Focused International Equity Fund                                                      | 811-01403         |
| Western Asset Corporate Bond Fund                                                             | 811-04254         |
| Franklin California Intermediate-Term Tax-Free Income Fund                                    | 811-04356         |
| Putnam International Equity Fund                                                              | 811-06190         |
| Franklin Federal Limited-Term Tax-Free Income Fund                                            | 811-04149         |
| Putnam Emerging Markets Equity Fund                                                           | 811-07513         |
| Western Asset Short Duration Income ETF                                                       | 811-23096         |
| Franklin Strategic Mortgage Portfolio                                                         | 811-07288         |
| Franklin Equity Income Fund                                                                   | 811-04986         |
| Franklin Low Duration Total Return Fund                                                       | 811-04986         |
| ClearBridge Global Infrastructure Income Fund                                                 | 811-22338         |
| Templeton Global Balanced Fund                                                                | 811-08226         |
| Putnam Core Bond Fund (f/k/a Putnam Fixed Income Absolute Return Fund)                        | 811-07513         |
| Franklin Multi-Asset Variable Conservative Growth Fund                                        | 811-21128         |
| Franklin Growth Fund                                                                          | 811-00537         |
| Western Asset SMASh Series M Fund                                                             | 811-06740         |
| Franklin Mutual Global Discovery VIP Fund                                                     | 811-05583         |
| Putnam PanAgora ESG Emerging Markets Equity ETF                                               | 811-23643         |
| Franklin Corefolio Allocation Fund                                                            | 811-07851         |
| Putnam VT High Yield Fund                                                                     | 811-05346         |
| Franklin High Yield Tax-Free Income Fund                                                      | 811-04149         |
| Putnam Global Income Trust                                                                    | 811-04524         |
| ClearBridge Variable Small Cap Growth Portfolio                                               | 811-21128         |
| Franklin DynaTech VIP Fund                                                                    | 811-05583         |
| Franklin Emerging Market Debt Opportunities Fund                                              | 811-10157         |
| Western Asset Pennsylvania Municipals Fund                                                    | 811-04254         |
| Western Asset Massachusetts Municipals Fund                                                   | 811-04254         |
| ClearBridge Dividend Strategy Fund                                                            | 811-06444         |
| Western Asset Core Plus Bond Fund                                                             | 811-06110         |
| Putnam California Tax Exempt Income Fund                                                      | 811-03630         |
| Putnam International Value Fund                                                               | 811-07513         |
| BrandywineGLOBAL - Corporate Credit Fund                                                      | 811-06444         |
| Franklin International Growth Fund                                                            | 811-10157         |
| Franklin Minnesota Tax-Free Income Fund                                                       | 811-04149         |
| ClearBridge Large Cap Growth Fund                                                             | 811-06444         |
| Western Asset SMASh Series Core Plus Completion                                               | 811-06740         |
| Putnam Tax-Free High Yield Fund                                                               | 811-04345         |
| Putnam VT Sustainable Future Fund                                                             | 811-05346         |
| ClearBridge International Value Fund                                                          | 811-06444         |
| Templeton Foreign Fund                                                                        | 811-02781         |
| BrandywineGLOBAL - Alternative Credit Fund                                                    | 811-22338         |
| Western Asset Core Bond Fund                                                                  | 811-06110         |
| Putnam VT Global Health Care Fund                                                             | 811-05346         |
| Franklin U.S. Small Capitalization Equity Fund (fka QS U.S. Small Capitalization Equity Fund) | 811-22338         |
| Western Asset Bond ETF                                                                        | 811-23124         |
| Franklin Utilities Fund                                                                       | 811-00537         |
| Templeton Global Bond VIP Fund                                                                | 811-05583         |
| Franklin Growth Allocation Fund                                                               | 811-07851         |
| ClearBridge Variable Large Cap Growth Portfolio                                               | 811-21128         |
| Putnam VT Diversified Income Fund                                                             | 811-05346         |
| Templeton Developing Markets Trust                                                            | 811-06378         |
| Putnam Focused Equity Fund                                                                    | 811-07513         |
| Franklin Templeton SMACS:  Series CH                                                          | 811-06243         |
| Putnam VT Large Cap Value Fund                                                                | 811-05346         |
| Franklin Multi-Asset Defensive Growth Fund                                                    | 811-06444         |
| Putnam Short Duration Bond Fund                                                               | 811-07513         |
| Franklin Multi-Asset Moderate Growth Fund                                                     | 811-06444         |
| Franklin Small-Mid Cap Growth Fund                                                            | 811-06243         |
| Martin Currie Emerging Markets Fund                                                           | 811-22338         |
| Franklin Arizona Tax-Free Income Fund                                                         | 811-04149         |
| ClearBridge Large Cap Value Fund                                                              | 811-06444         |
| Putnam Dynamic Asset Allocation Balanced Fund                                                 | 811-07121         |
| Franklin Templeton SMACS:  Series H                                                           | 811-06243         |
| Franklin Missouri Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Natural Resources Fund                                                               | 811-06243         |
| Franklin Templeton SMACS:  Series E                                                           | 811-06243         |
| International Equity Series                                                                   | 811-06135         |
| George Putnam Balanced Fund                                                                   | 811-00058         |
| Putnam Floating Rate Income Fund                                                              | 811-07513         |
| Putnam VT Small Cap Value Fund                                                                | 811-05346         |
| Putnam VT Sustainable Leaders Fund                                                            | 811-05346         |
| ClearBridge Small Cap Growth Fund                                                             | 811-06444         |
| Putnam ESG Core Bond ETF                                                                      | 811-23643         |
| Franklin Colorado Tax-Free Income Fund                                                        | 811-04149         |
| Franklin LifeSmart 2060 Retirement Target Fund                                                | 811-07851         |
| Franklin Biotechnology Discovery Fund                                                         | 811-06243         |
| Franklin New York Intermediate-Term Tax-Free Income Fund                                      | 811-04787         |
| Templeton Emerging Markets Small Cap Fund                                                     | 811-08226         |
| Putnam Government Money Market Fund                                                           | 811-07237         |
| Franklin Alabama Tax-Free Income Fund                                                         | 811-04149         |
| Franklin Templeton SMACS:  Series EM                                                          | 811-08226         |
| Franklin S&P 500 Index Fund                                                                   | 811-06444         |
| Franklin LifeSmart 2045 Retirement Target Fund                                                | 811-07851         |
| Franklin Oregon Tax-Free Income Fund                                                          | 811-04149         |
| Templeton Global Total Return Fund                                                            | 811-04706         |
| Western Asset Managed Municipals Fund                                                         | 811-04254         |
| Putnam VT International Equity Fund                                                           | 811-05346         |
| Franklin International Equity Fund (fka QS International Equity Fund)                         | 811-22338         |
| Franklin Michigan Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Managed Income Fund                                                                  | 811-04986         |
| Templeton Growth Fund, Inc.                                                                   | 811-04892         |
| Western Asset High Yield Fund                                                                 | 811-06110         |
| Putnam BDC Income ETF                                                                         | 811-23643         |
| ClearBridge Mid Cap Growth Fund                                                               | 811-06444         |
| Western Asset New York Municipals Fund                                                        | 811-04254         |
| Western Asset Long Credit VIT                                                                 | 811-06310         |
| Franklin Moderate Allocation Fund                                                             | 811-07851         |
| Franklin LifeSmart 2025 Retirement Target Fund                                                | 811-07851         |
| Templeton Global Bond Fund                                                                    | 811-04706         |
| Franklin Small-Mid Cap Growth VIP Fund                                                        | 811-05583         |
| Western Asset New Jersey Municipals Fund                                                      | 811-04254         |
| Putnam Sustainable Future ETF                                                                 | 811-23643         |
| Putnam Minnesota Tax Exempt Income Fund                                                       | 811-04527         |
| Franklin Mutual Beacon Fund                                                                   | 811-05387         |
| Franklin Templeton Moderately Conservative Model Portfolio                                    | 811-21128         |
| Franklin Mutual Small-Mid Cap Value Fund                                                      | 811-05878         |
| Franklin Floating Rate Daily Access Fund                                                      | 811-04986         |
| Franklin Rising Dividends Fund                                                                | 811-04894         |
| Putnam VT Core Equity Fund (f/k/a Putnam VT Multi-Cap Core Fund)                              | 811-05346         |
| Franklin Georgia Tax-Free Income Fund                                                         | 811-04149         |
| BrandywineGLOBAL - Flexible Bond Fund                                                         | 811-22338         |
| Western Asset Intermediate-Term Municipals Fund                                               | 811-04254         |
| Putnam Multi-Asset Income Fund                                                                | 811-07121         |
| ClearBridge Sustainability Leaders Fund                                                       | 811-06444         |
| Templeton Sustainable Emerging Markets Bond Fund                                              | 811-04706         |
| Putnam Dynamic Asset Allocation Growth Fund                                                   | 811-07121         |
| Putnam Dynamic Asset Allocation Conservative Fund                                             | 811-07121         |
| Franklin Large Cap Growth VIP Fund                                                            | 811-05583         |
| Franklin New Jersey Tax-Free Income Fund                                                      | 811-04149         |
| Western Asset California Municipals Fund                                                      | 811-04254         |
| Franklin Rising Dividends VIP Fund                                                            | 811-05583         |
| Western Asset Total Return Unconstrained Fund                                                 | 811-06110         |
| Franklin Mutual U.S. Mid Cap Value Fund                                                       | 811-05878         |
| Putnam Global Technology Fund                                                                 | 811-07513         |
| Franklin California High Yield Municipal Fund                                                 | 811-06481         |
| Putnam Sustainable Leaders ETF                                                                | 811-23643         |
| Templeton Foreign VIP Fund                                                                    | 811-05583         |
| Franklin Multi-Asset Growth Fund                                                              | 811-06444         |
| Franklin Ohio Tax-Free Income Fund                                                            | 811-04149         |
| Putnam Small Cap Growth Fund                                                                  | 811-07513         |
| Putnam PanAgora ESG International Equity ETF                                                  | 811-23643         |
| Templeton Global Smaller Companies Fund                                                       | 811-03143         |
| Franklin Templeton SMACS:  Series I                                                           | 811-06243         |
| Franklin U.S. Government Securities Fund                                                      | 811-00537         |
| Franklin DynaTech Fund                                                                        | 811-00537         |
| Western Asset SMASh Series Core Completion Fund                                               | 811-06740         |
| Western Asset Mortgage Total Return Fund                                                      | 811-04254         |
| Putnam Core Equity Fund (f/k/a Putnam Multi-Cap Core Fund)                                    | 811-07513         |
| Western Asset Ultra-Short Income Fund                                                         | 811-04254         |
| K2 Alternative Strategies Fund                                                                | 811-22641         |
| Franklin Templeton Moderately Aggressive Model Portfolio                                      | 811-21128         |
| Franklin California Tax-Free Income Fund                                                      | 811-02790         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund                                        | 811-22338         |
| Putnam Focused Large Cap Value ETF                                                            | 811-23643         |
| Templeton Developing Markets VIP Fund                                                         | 811-05583         |
| Franklin Growth and Income VIP Fund                                                           | 811-05583         |
| Templeton International Bond Fund                                                             | 811-04706         |
| Putnam Global Health Care Fund                                                                | 811-03386         |
| ClearBridge Variable Growth Portfolio                                                         | 811-21128         |
| Western Asset Intermediate Bond Fund                                                          | 811-06110         |
| ClearBridge Select Fund                                                                       | 811-06444         |
| Putnam Mortgage Securities Fund                                                               | 811-03897         |
| ClearBridge Variable Mid Cap 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: 8 - Franklin Total Return Fund

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

- **a. Full Name of the Fund:** Franklin Total Return Fund

- **b. Series identification number, if any:** S000006857

- **c. LEI:** BOFI5JCJJYCPA6G3SW76

- **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           | C000018529                                | FBDAX                        |
|                           2 | Class A                 | C000018526                                | FKBAX                        |
|                           3 | Class C                 | C000018528                                | FCTLX                        |
|                           4 | Class R                 | C000018530                                | FTRRX                        |
|                           5 | Class R6                | C000128883                                | FRERX                        |

**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:** The Bank of New York 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:** $23,194.24

- **g. Provide the net income from securities lending activities:** $3,284.00

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

Did the Fund rely on the following rules?

- 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(e) (17 CFR 270.18f-4(e))

- Rule 6c-11 (17 CFR 270.6c-11)

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

- 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

- **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:** IHS Markit Ltd.

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

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

**Pricing Services Record: 3**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **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:** PricingDirect Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **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: 5**

- **i. Full name:** LSEG US FIN CORP.

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

- **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: 6**

- **i. Full name:** Kroll, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 549300W01Z54L5RHPJ40

- **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

- **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:** 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))

**Custodians Record: 3**

- **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: 4**

- **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))

- **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

- **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:** 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

**Administrators Record: 3**

- **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:** 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:** $47,284.32

**Aggregate Commission:** $47,284.32

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

| Name                                  | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| Wells Fargo Securities, LLC           | 8-65876           | 000126292    | VYVVCKR63DVZZN70PB21 | NC      | US        | $4,572,856,020.04         |
| J.P. Morgan Securities LLC            | 8-35008           | 000000079    | ZBUT11V806EZRVTWT807 | NY      | US        | $5,595,051,165.25         |
| BNP Paribas Securities Corp.          | 8-32682           | 000015794    | RCNB6OTYUAMMP879YW96 | NY      | US        | $106,658,077.63           |
| Bank of Montreal                      | N/A               | N/A          | NQQ6HPCNCCU6TUTQYE16 |  |  | $114,451,395.16           |
| Barclays Capital, Inc.                | 8-41342           | 000019714    | AC28XWWI3WIBK2824319 | NY      | US        | $228,427,826.52           |
| Goldman Sachs & Co. LLC               | 8-00129           | 000000361    | FOR8UP27PHTHYVLBNG30 | NY      | US        | $1,264,359,448.06         |
| BofA Securities, Inc.                 | 8-69787           | 000283942    | 549300HN4UKV1E2R3U73 | NY      | US        | $4,006,086,352.50         |
| Nomura Securities International, Inc. | 8-15255           | 000004297    | OXTKY6Q8X53C9ILVV871 | NY      | US        | $93,038,420.09            |
| Morgan Stanley & Co. LLC              | 8-15869           | 000008209    | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $2,823,746,584.51         |
| Citigroup Global Markets Inc.         | 8-08177           | 000007059    | MBNUM2BPBDO7JBLYG310 | NY      | US        | $404,240,290.44           |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $19,768,459,173.94

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** No

- **Item C.19.a - Fund's monthly average net assets:** $3,064,175,730.42

**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:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 2 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 3 Name of institution:** HSBC BANK USA, N.A.

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

  - **Line Institutions Record: 5 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 6 Name of institution:** MORGAN STANLEY SENIOR FUNDING, INC.

  - **Line Institutions Record: 7 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 8 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 9 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 10 Name of institution:** THE BANK OF NEW YORK MELLON

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

- **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 Investors Securities Trust

**Date:** 2025-10-31

**Signature:** Monica Krogh

**Title:** Assistant Treasurer