# EDGAR Filing Document

**Accession Number:** 0000825063
**File Stem:** 0002071691-26-003934
**Filing Date:** 2026-2
**Character Count:** 26118
**Document Hash:** 8c099a66995c8b10670c857366dc2cdc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-26-003934.hdr.sgml**: 20260225

**ACCESSION NUMBER**: 0002071691-26-003934

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260225

**DATE AS OF CHANGE**: 20260225

**PERIOD START**: 20251231

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05387
- **FILM NUMBER:** 26675045

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

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

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

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

## Series and Classes Contracts Data

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

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

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Franklin Mutual Series Funds

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

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

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

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

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

  - **City:** Short Hills

  - **State:** NJ

  - **Foreign country:** US

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

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

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

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

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

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

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

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

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1251522041.98

**Total Liabilities:** $5896818.23

**Net Assets:** $1245625223.75

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000021382 | -0.76%               | 2.80%                | 3.14%                |
| Class ID C000021384 | -0.85%               | 2.75%                | 3.07%                |
| Class ID C000021385 | -0.77%               | 2.83%                | 3.16%                |
| Class ID C000082422 | -0.79%               | 2.78%                | 3.10%                |
| Class ID C000128729 | -0.71%               | 2.82%                | 3.17%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3244173.53              | $-11367107.41                              |
| Month 2  | $28144744.76             | $3603771.98                                |
| Month 3  | $18647795.67             | $19406277.56                               |

### Schedule of Portfolio Investments

| Name                                                     | Title                                                    | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| British American Tobacco plc                             | British American Tobacco plc                             | CUSIP: N/A<br>LEI: 213800FKA5MF17RJKT63       | Long             | EC               | CORP              | GB        |    483701 | NS      | $27421326.53  | 2.20%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                        | HSBC Holdings plc                                        | CUSIP: N/A<br>LEI: MLU0ZO3ML4LN2LL2TL39       | Long             | EC               | CORP              | GB        |   1483364 | NS      | $23342128.43  | 1.87%             |  |  |  | No            |                  2 | On Loan: No      |
| Prudential plc                                           | Prudential plc                                           | CUSIP: N/A<br>LEI: 5493001Z3ZE83NGK8Y12       | Long             | EC               | CORP              | GB        |   2001079 | NS      | $30782753.88  | 2.47%             |  |  |  | No            |                  2 | On Loan: No      |
| St James's Place plc                                     | St. James's Place plc                                    | CUSIP: N/A<br>LEI: 213800M993ICXOMBCP87       | Long             | EC               | CORP              | GB        |   1115907 | NS      | $20727303.88  | 1.66%             |  |  |  | No            |                  2 | On Loan: No      |
| BP plc                                                   | BP plc                                                   | CUSIP: N/A<br>LEI: 213800LH1BZH3DI6G760       | Long             | EC               | CORP              | GB        |   4943623 | NS      | $28831030.83  | 2.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Babcock International Group plc                          | Babcock International Group plc                          | CUSIP: N/A<br>LEI: 213800TSKOLX4EU6L377       | Long             | EC               | CORP              | GB        |    903082 | NS      | $15049689.47  | 1.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Airbus SE                                                | Airbus SE                                                | CUSIP: N/A<br>LEI: MINO79WLOO247M1IL051       | Long             | EC               | CORP              | NL        |    102049 | NS      | $23698225.62  | 1.90%             |  |  |  | No            |                  2 | On Loan: No      |
| Capgemini SE                                             | Capgemini SE                                             | CUSIP: N/A<br>LEI: 96950077L0TN7BAROX36       | Long             | EC               | CORP              | FR        |    132733 | NS      | $22040080.28  | 1.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Franklin Institutional U.S. Government Money Market Fund | Franklin Institutional U.S. Government Money Market Fund | CUSIP: 457756500<br>LEI: 549300M4TP89K77LG374 | Long             | STIV             | RF                | US        |  25268998 | NS      | $25268997.86  | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Hellenic Telecommunications Organization SA              | Hellenic Telecommunications Organization SA              | CUSIP: N/A<br>LEI: ELPUFM0XZRZO4LFXW404       | Long             | EC               | CORP              | GR        |    953351 | NS      | $18889574.67  | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| BASF SE                                                  | BASF SE                                                  | CUSIP: N/A<br>LEI: 529900PM64WH8AF1E917       | Long             | EC               | CORP              | DE        |    457302 | NS      | $24062592.08  | 1.93%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                         | Deutsche Bank AG                                         | CUSIP: N/A<br>LEI: 7LTWFZYICNSX8D621K86       | Long             | EC               | CORP              | DE        |    658484 | NS      | $25377405.06  | 2.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Telekom AG                                      | Deutsche Telekom AG                                      | CUSIP: N/A<br>LEI: 549300V9QSIG4WX4GJ96       | Long             | EC               | CORP              | DE        |    819713 | NS      | $26682523.83  | 2.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Koninklijke KPN NV                                       | Koninklijke KPN NV                                       | CUSIP: N/A<br>LEI: 549300YO0JZHAL7FVP81       | Long             | EC               | CORP              | NL        |   3959296 | NS      | $18500668.45  | 1.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Asahi Group Holdings Ltd.                                | Asahi Group Holdings Ltd.                                | CUSIP: N/A<br>LEI: 353800KAJ02XNHLCJW79       | Long             | EC               | CORP              | JP        |   1712735 | NS      | $17952553.87  | 1.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Mondelez International, Inc.                             | Mondelez International, Inc., Class A                    | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |    352426 | NS      | $18971091.58  | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Bottlers Japan Holdings, Inc.                  | Coca-Cola Bottlers Japan Holdings, Inc.                  | CUSIP: N/A<br>LEI: 353800XN1G90665VTQ16       | Long             | EC               | CORP              | JP        |   1224832 | NS      | $24747925.06  | 1.99%             |  |  |  | No            |                  2 | On Loan: No      |
| DBS Group Holdings Ltd.                                  | DBS Group Holdings Ltd.                                  | CUSIP: N/A<br>LEI: 5493007FKT78NKPM5V55       | Long             | EC               | CORP              | SG        |    554798 | NS      | $24302734.79  | 1.95%             |  |  |  | No            |                  2 | On Loan: No      |
| Pan Pacific International Holdings Corp.                 | Pan Pacific International Holdings Corp.                 | CUSIP: N/A<br>LEI: 529900QLHJM2E18A5763       | Long             | EC               | CORP              | JP        |   3788831 | NS      | $22569703.24  | 1.81%             |  |  |  | No            |                  2 | On Loan: No      |
| SBI Holdings, Inc.                                       | SBI Holdings, Inc.                                       | CUSIP: N/A<br>LEI: 353800L6LMHYIPSMRQ17       | Long             | EC               | CORP              | JP        |    836574 | NS      | $18028178.58  | 1.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi UFJ Financial Group, Inc.                     | Mitsubishi UFJ Financial Group, Inc.                     | CUSIP: N/A<br>LEI: 353800V2V8PUY9TK3E06       | Long             | EC               | CORP              | JP        |   1674753 | NS      | $26580128.77  | 2.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Mizuho Financial Group, Inc.                             | Mizuho Financial Group, Inc.                             | CUSIP: N/A<br>LEI: 353800CI5L6DDAN5XZ33       | Long             | EC               | CORP              | JP        |    504984 | NS      | $18429170.38  | 1.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi Electric Corp.                                | Mitsubishi Electric Corp.                                | CUSIP: N/A<br>LEI: 549300TRXM9Y6561AX39       | Long             | EC               | CORP              | JP        |    389464 | NS      | $11355545.86  | 0.91%             |  |  |  | No            |                  2 | On Loan: No      |
| Denso Corp.                                              | Denso Corp.                                              | CUSIP: N/A<br>LEI: 549300RYPA10CQM3QK38       | Long             | EC               | CORP              | JP        |   1301127 | NS      | $17971319.05  | 1.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Olympus Corp.                                            | Olympus Corp.                                            | CUSIP: N/A<br>LEI: 5299000Y52IFDI1I2A21       | Long             | EC               | CORP              | JP        |   1478393 | NS      | $18744921.53  | 1.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Sony Group Corp.                                         | Sony Group Corp.                                         | CUSIP: N/A<br>LEI: 529900R5WX9N2OI2N910       | Long             | EC               | CORP              | JP        |    479438 | NS      | $12298058.63  | 0.99%             |  |  |  | No            |                  2 | On Loan: No      |
| Toyota Motor Corp.                                       | Toyota Motor Corp.                                       | CUSIP: N/A<br>LEI: 5493006W3QUS5LMH6R84       | Long             | EC               | CORP              | JP        |   1171201 | NS      | $25153997.91  | 2.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Novartis AG                                              | Novartis AG                                              | CUSIP: N/A<br>LEI: 5493007HIVTX6SY6XD66       | Long             | EC               | CORP              | CH        |    220460 | NS      | $30378504.85  | 2.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Roche Holding AG                                         | Roche Holding AG                                         | CUSIP: N/A<br>LEI: 549300U41AUUVOAAOB37       | Long             | EC               | CORP              | CH        |    106933 | NS      | $44160150.64  | 3.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Nestle SA                                                | Nestle SA                                                | CUSIP: N/A<br>LEI: KY37LUS27QQX7BB93L28       | Long             | EC               | CORP              | CH        |    133720 | NS      | $13272929.68  | 1.07%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                           | BNP Paribas SA                                           | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | Long             | EC               | CORP              | FR        |    353513 | NS      | $33444819.23  | 2.68%             |  |  |  | No            |                  2 | On Loan: No      |
| Cie de Saint-Gobain SA                                   | Cie de Saint-Gobain SA                                   | CUSIP: N/A<br>LEI: NFONVGN05Z0FMN5PEC35       | Long             | EC               | CORP              | FR        |    270588 | NS      | $27516609.43  | 2.21%             |  |  |  | No            |                  2 | On Loan: No      |
| SLB Ltd.                                                 | SLB Ltd.                                                 | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |    577791 | NS      | $22175618.58  | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Norsk Hydro ASA                                          | Norsk Hydro ASA                                          | CUSIP: N/A<br>LEI: 549300N1SDN71ZZ8BO45       | Long             | EC               | CORP              | NO        |   2168836 | NS      | $16741624.10  | 1.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Metso OYJ                                                | Metso OYJ                                                | CUSIP: N/A<br>LEI: 549300R0VN9C371W0E07       | Long             | EC               | CORP              | FI        |   1288366 | NS      | $22416493.83  | 1.80%             |  |  |  | No            |                  2 | On Loan: No      |
| CaixaBank SA                                             | CaixaBank SA                                             | CUSIP: N/A<br>LEI: 7CUNS533WID6K7DGFI87       | Long             | EC               | CORP              | ES        |   2033660 | NS      | $24863782.55  | 2.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Cie Financiere Richemont SA                              | Cie Financiere Richemont SA                              | CUSIP: N/A<br>LEI: 549300YIPGJ6UX2QPS51       | Long             | EC               | CORP              | CH        |     58041 | NS      | $12516602.31  | 1.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ASR Nederland NV                                         | ASR Nederland NV                                         | CUSIP: N/A<br>LEI: 7245000G0HS48PZWUD53       | Long             | EC               | CORP              | NL        |    350645 | NS      | $24948671.09  | 2.00%             |  |  |  | No            |                  2 | On Loan: No      |
| National Grid plc                                        | National Grid plc                                        | CUSIP: N/A<br>LEI: 8R95QZMKZLJX5Q2XR704       | Long             | EC               | CORP              | GB        |    957009 | NS      | $14679065.52  | 1.18%             |  |  |  | No            |                  2 | On Loan: No      |
| NatWest Group plc                                        | NatWest Group plc                                        | CUSIP: N/A<br>LEI: 2138005O9XJIJN4JPN90       | Long             | EC               | CORP              | GB        |   2429180 | NS      | $21309452.26  | 1.71%             |  |  |  | No            |                  2 | On Loan: No      |
| RENK Group AG                                            | RENK Group AG                                            | CUSIP: N/A<br>LEI: 894500H8CNSZ53EI6K63       | Long             | EC               | CORP              | DE        |    348743 | NS      | $21734134.93  | 1.74%             |  |  |  | No            |                  2 | On Loan: No      |
| Stellantis NV                                            | Stellantis NV                                            | CUSIP: N/A<br>LEI: 549300LKT9PW7ZIBDF31       | Long             | EC               | CORP              | NL        |   2408035 | NS      | $26369685.36  | 2.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Tencent Holdings Ltd.                                    | Tencent Holdings Ltd.                                    | CUSIP: N/A<br>LEI: 254900N4SLUMW4XUYY11       | Long             | EC               | CORP              | KY        |    294307 | NS      | $22586160.88  | 1.81%             |  |  |  | No            |                  2 | On Loan: No      |
| Mondi plc                                                | Mondi plc                                                | CUSIP: N/A<br>LEI: 213800LOZA69QFDC9N34       | Long             | EC               | CORP              | GB        |   1812594 | NS      | $22114019.11  | 1.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Haleon plc                                               | Haleon plc                                               | CUSIP: N/A<br>LEI: 549300PSB3WWEODCUP19       | Long             | EC               | CORP              | GB        |   5959260 | NS      | $30114412.08  | 2.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Shell plc                                                | Shell plc                                                | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | GB        |    686167 | NS      | $25286798.20  | 2.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Aviva plc                                                | Aviva plc                                                | CUSIP: N/A<br>LEI: YF0Y5B0IB8SM0ZFG9G81       | Long             | EC               | CORP              | GB        |   3113166 | NS      | $28625322.59  | 2.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Zabka Group SA                                           | Zabka Group SA                                           | CUSIP: N/A<br>LEI: 549300TU2RZ35E4ET914       | Long             | EC               | CORP              | LU        |   3695794 | NS      | $23512222.45  | 1.89%             |  |  |  | No            |                  2 | On Loan: No      |
| Unilever plc                                             | Unilever plc                                             | CUSIP: N/A<br>LEI: 549300MKFYEKVRWML317       | Long             | EC               | CORP              | GB        |    278510 | NS      | $18197059.53  | 1.46%             |  |  |  | No            |                  2 | On Loan: No      |
| UniCredit SpA                                            | UniCredit SpA                                            | CUSIP: N/A<br>LEI: 549300TRUWO2CD2G5692       | Long             | EC               | CORP              | IT        |    435565 | NS      | $36076412.41  | 2.90%             |  |  |  | No            |                  2 | On Loan: No      |
| ArcelorMittal SA                                         | ArcelorMittal SA                                         | CUSIP: N/A<br>LEI: 2EULGUTUI56JI9SAL165       | Long             | EC               | CORP              | LU        |    558445 | NS      | $25643524.80  | 2.06%             |  |  |  | No            |                  2 | On Loan: No      |
| ING Groep NV                                             | ING Groep NV                                             | CUSIP: N/A<br>LEI: 549300NYKK9MWM7GGW15       | Long             | EC               | CORP              | NL        |    677697 | NS      | $19048866.05  | 1.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Swiss Franc                                              | Swiss Franc                                              | CUSIP: N/A<br>LEI: N/A                        | Short            | STIV             |  | CH        |        -0 | OU      | $-0.01        | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| EURO                                                     | EURO                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | XX        |     92289 | OU      | $108458.13    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Pound Sterling                                           | Pound Sterling                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | GB        |    615494 | OU      | $829655.78    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Yen                                                      | Yen                                                      | CUSIP: N/A<br>LEI: N/A                        | Short            | STIV             |  | JP        |        -6 | OU      | $-0.04        | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Won                                                      | Won                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | KR        |        37 | OU      | $0.03         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| AerCap Holdings NV                                       | AerCap Holdings NV                                       | CUSIP: N/A<br>LEI: 549300SZYINBBLJQU475       | Long             | EC               | CORP              | NL        |    172147 | NS      | $24747852.72  | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| CNH Industrial NV                                        | CNH Industrial NV                                        | CUSIP: N/A<br>LEI: 549300WGC2HZ5J67V817       | Long             | EC               | CORP              | NL        |   1352652 | NS      | $12471451.44  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors NV                                    | NXP Semiconductors NV                                    | CUSIP: N/A<br>LEI: 724500M9BY5293JDF951       | Long             | EC               | CORP              | NL        |     53104 | NS      | $11526754.24  | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-30

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

**Signature:** Monica Krogh

**Name of Signer:** Monica Krogh

**Title:** Assistant Treasurer