# EDGAR Filing Document

**Accession Number:** 0000825063
**File Stem:** 0001752724-25-203487
**Filing Date:** 2025-8
**Character Count:** 25944
**Document Hash:** 947d131eecca297b227400397bd1958e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-203487.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0001752724-25-203487

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**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:** 251253180

**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:** 2025-06-30

**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:** $1084734532.61

**Total Liabilities:** $21062887.37

**Net Assets:** $1063671645.24

**Cash Not Reported:** $5627459.63

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000021385 | 0.47%                | 5.15%                | 3.02%                |
| Class ID C000128729 | 0.51%                | 5.15%                | 3.02%                |
| Class ID C000021382 | 0.45%                | 5.11%                | 3.02%                |
| Class ID C000082422 | 0.46%                | 5.11%                | 2.96%                |
| Class ID C000021384 | 0.44%                | 5.03%                | 2.92%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $8155241.83              | $-6858081.15                               |
| Month 2  | $8229359.65              | $30109434.31                               |
| Month 3  | $5134289.54              | $25161677.99                               |

**Designated Index Information**

- **Index Name:** MSCI EAFE Value Index

- **Index Identifier:** BM0767

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Aviva plc                                              | Aviva plc                                              | CUSIP: N/A<br>LEI: YF0Y5B0IB8SM0ZFG9G81       | Short            | EC               | CORP              | GB        |   -395596 | NS      | $-3363251.41  | -0.32%            |  |  |  | No            |                  2 | On Loan: No      |
| NN Group NV                                            | NN Group NV                                            | CUSIP: N/A<br>LEI: 724500OHYNDT9OY6Q215       | Long             | EC               | CORP              | NL        |    137364 | NS      | $9140076.86   | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| Sony Group Corp.                                       | Sony Group Corp.                                       | CUSIP: N/A<br>LEI: 529900R5WX9N2OI2N910       | Long             | EC               | CORP              | JP        |    479438 | NS      | $12465544.43  | 1.17%             |  |  |  | No            |                  2 | On Loan: No      |
| GSK plc                                                | GSK plc                                                | CUSIP: N/A<br>LEI: 5493000HZTVUYLO1D793       | Long             | EC               | CORP              | GB        |    425036 | NS      | $8103935.97   | 0.76%             |  |  |  | No            |                  2 | On Loan: No      |
| Mondi plc                                              | Mondi plc                                              | CUSIP: N/A<br>LEI: 213800LOZA69QFDC9N34       | Long             | EC               | CORP              | GB        |   1031623 | NS      | $16857251.21  | 1.58%             |  |  |  | No            |                  2 | On Loan: No      |
| SBI Holdings, Inc.                                     | SBI Holdings, Inc.                                     | CUSIP: N/A<br>LEI: 353800L6LMHYIPSMRQ17       | Long             | EC               | CORP              | JP        |    859269 | NS      | $29941350.37  | 2.81%             |  |  |  | No            |                  2 | On Loan: No      |
| Babcock International Group plc                        | Babcock International Group plc                        | CUSIP: N/A<br>LEI: 213800TSKOLX4EU6L377       | Long             | EC               | CORP              | GB        |    978518 | NS      | $15411582.56  | 1.45%             |  |  |  | No            |                  2 | 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        |   1243913 | NS      | $20085626.88  | 1.89%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                         | BNP Paribas SA                                         | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | Long             | EC               | CORP              | FR        |    431957 | NS      | $38747280.40  | 3.64%             |  |  |  | No            |                  2 | On Loan: No      |
| Kering SA                                              | Kering SA                                              | CUSIP: N/A<br>LEI: 549300VGEJKB7SVUZR78       | Long             | EC               | CORP              | FR        |     61878 | NS      | $13480470.51  | 1.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Post AG                                       | Deutsche Post AG                                       | CUSIP: N/A<br>LEI: 8ER8GIG7CSMVD8VUFE78       | Long             | EC               | CORP              | DE        |    219710 | NS      | $10176935.85  | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| Teleperformance SE                                     | Teleperformance SE                                     | CUSIP: N/A<br>LEI: 9695004GI61FHFFNRG61       | Long             | EC               | CORP              | FR        |    192134 | NS      | $18661464.27  | 1.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Prudential plc                                         | Prudential plc                                         | CUSIP: N/A<br>LEI: 5493001Z3ZE83NGK8Y12       | Long             | EC               | CORP              | GB        |   2751360 | NS      | $34436713.22  | 3.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Koninklijke KPN NV                                     | Koninklijke KPN NV                                     | CUSIP: N/A<br>LEI: 549300YO0JZHAL7FVP81       | Long             | EC               | CORP              | NL        |   3959296 | NS      | $19314200.48  | 1.82%             |  |  |  | No            |                  2 | On Loan: No      |
| Airbus SE                                              | Airbus SE                                              | CUSIP: N/A<br>LEI: MINO79WLOO247M1IL051       | Long             | EC               | CORP              | NL        |    102049 | NS      | $21348727.25  | 2.01%             |  |  |  | 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        |   1542505 | NS      | $25135162.33  | 2.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Cie Financiere Richemont SA                            | Cie Financiere Richemont SA                            | CUSIP: N/A<br>LEI: 549300YIPGJ6UX2QPS51       | Long             | EC               | CORP              | CH        |     98553 | NS      | $18649467.64  | 1.75%             |  |  |  | No            |                  2 | On Loan: No      |
| BP plc                                                 | BP plc                                                 | CUSIP: N/A<br>LEI: 213800LH1BZH3DI6G760       | Long             | EC               | CORP              | GB        |   4943623 | NS      | $24630599.68  | 2.32%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                               | U.S. Treasury Bills                                    | CUSIP: 912797NA1<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   1000000 | PA      | $985956.44    | 0.09%             | 2025-10-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Tencent Holdings Ltd.                                  | Tencent Holdings Ltd.                                  | CUSIP: N/A<br>LEI: 254900N4SLUMW4XUYY11       | Long             | EC               | CORP              | KY        |    256437 | NS      | $16523675.52  | 1.55%             |  |  |  | No            |                  2 | On Loan: No      |
| DBS Group Holdings Ltd.                                | DBS Group Holdings Ltd.                                | CUSIP: N/A<br>LEI: 5493007FKT78NKPM5V55       | Long             | EC               | CORP              | SG        |    698428 | NS      | $24655962.60  | 2.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Reckitt Benckiser Group plc                            | Reckitt Benckiser Group plc                            | CUSIP: N/A<br>LEI: 5493003JFSMOJG48V108       | Long             | EC               | CORP              | GB        |    194623 | NS      | $13259082.05  | 1.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Olympus Corp.                                          | Olympus Corp.                                          | CUSIP: N/A<br>LEI: 5299000Y52IFDI1I2A21       | Long             | EC               | CORP              | JP        |   1150500 | NS      | $13666010.69  | 1.28%             |  |  |  | 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      | $22832899.37  | 2.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Seven & i Holdings Co. Ltd.                            | Seven & i Holdings Co. Ltd.                            | CUSIP: N/A<br>LEI: 52990037G8JRM3TWGY86       | Long             | EC               | CORP              | JP        |   1065080 | NS      | $17142813.08  | 1.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Haleon plc                                             | Haleon plc                                             | CUSIP: N/A<br>LEI: 549300PSB3WWEODCUP19       | Long             | EC               | CORP              | GB        |   3481895 | NS      | $17895658.09  | 1.68%             |  |  |  | No            |                  2 | On Loan: No      |
| Norsk Hydro ASA                                        | Norsk Hydro ASA                                        | CUSIP: N/A<br>LEI: 549300N1SDN71ZZ8BO45       | Long             | EC               | CORP              | NO        |   3121412 | NS      | $17874454.54  | 1.68%             |  |  |  | No            |                  2 | On Loan: No      |
| Schlumberger NV                                        | Schlumberger NV                                        | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |    577791 | NS      | $19529335.80  | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| National Grid plc                                      | National Grid plc                                      | CUSIP: N/A<br>LEI: 8R95QZMKZLJX5Q2XR704       | Long             | EC               | CORP              | GB        |   1282392 | NS      | $18823800.08  | 1.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Direct Line Insurance Group plc                        | Direct Line Insurance Group plc                        | CUSIP: N/A<br>LEI: 213800FF2R23ALJQOP04       | Long             | EC               | CORP              | GB        |   1379825 | NS      | $5818881.52   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Roche Holding AG                                       | Roche Holding AG                                       | CUSIP: N/A<br>LEI: 549300U41AUUVOAAOB37       | Long             | EC               | CORP              | CH        |    109764 | NS      | $35829152.57  | 3.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Denso Corp.                                            | Denso Corp.                                            | CUSIP: N/A<br>LEI: 549300RYPA10CQM3QK38       | Long             | EC               | CORP              | JP        |   1434095 | NS      | $19353526.18  | 1.82%             |  |  |  | No            |                  2 | On Loan: No      |
| Shell plc                                              | Shell plc                                              | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | GB        |    686167 | NS      | $23940060.03  | 2.25%             |  |  |  | No            |                  2 | On Loan: No      |
| BASF SE                                                | BASF SE                                                | CUSIP: N/A<br>LEI: 529900PM64WH8AF1E917       | Long             | EC               | CORP              | DE        |    208247 | NS      | $10299797.17  | 0.97%             |  |  |  | No            |                  2 | On Loan: No      |
| Toyota Motor Corp.                                     | Toyota Motor Corp.                                     | CUSIP: N/A<br>LEI: 5493006W3QUS5LMH6R84       | Long             | EC               | CORP              | JP        |    863395 | NS      | $14870245.10  | 1.40%             |  |  |  | No            |                  2 | On Loan: No      |
| UniCredit SpA                                          | UniCredit SpA                                          | CUSIP: N/A<br>LEI: 549300TRUWO2CD2G5692       | Long             | EC               | CORP              | IT        |    254934 | NS      | $17101835.27  | 1.61%             |  |  |  | No            |                  2 | On Loan: No      |
| CNH Industrial NV                                      | CNH Industrial NV                                      | CUSIP: N/A<br>LEI: 549300WGC2HZ5J67V817       | Long             | EC               | CORP              | NL        |   1231032 | NS      | $15954174.72  | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Renesas Electronics Corp.                              | Renesas Electronics Corp.                              | CUSIP: N/A<br>LEI: 5299000EPC47VJQOFB81       | Long             | EC               | CORP              | JP        |   1244287 | NS      | $15393612.31  | 1.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Rio Tinto plc                                          | Rio Tinto plc                                          | CUSIP: N/A<br>LEI: 213800YOEO5OQ72G2R82       | Long             | EC               | CORP              | GB        |    242368 | NS      | $14106815.15  | 1.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Mondelez International, Inc.                           | Mondelez International, Inc., Class A                  | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |    225367 | NS      | $15198750.48  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Heineken NV                                            | Heineken NV                                            | CUSIP: N/A<br>LEI: 724500K5PTPSST86UQ23       | Long             | EC               | CORP              | NL        |    174292 | NS      | $15205732.13  | 1.43%             |  |  |  | No            |                  2 | On Loan: No      |
| CaixaBank SA                                           | CaixaBank SA                                           | CUSIP: N/A<br>LEI: 7CUNS533WID6K7DGFI87       | Long             | EC               | CORP              | ES        |   2542420 | NS      | $22029586.15  | 2.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Telekom AG                                    | Deutsche Telekom AG                                    | CUSIP: N/A<br>LEI: 549300V9QSIG4WX4GJ96       | Long             | EC               | CORP              | DE        |    300850 | NS      | $11012193.21  | 1.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Novartis AG                                            | Novartis AG                                            | CUSIP: N/A<br>LEI: 5493007HIVTX6SY6XD66       | Long             | EC               | CORP              | CH        |    246900 | NS      | $29968008.23  | 2.82%             |  |  |  | No            |                  2 | On Loan: No      |
| AerCap Holdings NV                                     | AerCap Holdings NV                                     | CUSIP: N/A<br>LEI: 549300SZYINBBLJQU475       | Long             | EC               | CORP              | NL        |    217028 | NS      | $25392276.00  | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Institutional Fiduciary Trust - Money Market Portfolio | Institutional Fiduciary Trust - Money Market Portfolio | CUSIP: 457756500<br>LEI: 549300M4TP89K77LG374 | Long             | STIV             | RF                | US        |  41617684 | NS      | $41617684.15  | 3.91%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                               | U.S. Treasury Bills                                    | CUSIP: 912797RC3<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   2000000 | PA      | $1975548.62   | 0.19%             | 2025-10-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States of America                               | U.S. Treasury Bills                                    | CUSIP: 912797PE1<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |    500000 | PA      | $499081.11    | 0.05%             | 2025-07-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Asahi Group Holdings Ltd.                              | Asahi Group Holdings Ltd.                              | CUSIP: N/A<br>LEI: 353800KAJ02XNHLCJW79       | Long             | EC               | CORP              | JP        |   1544591 | NS      | $20646762.93  | 1.94%             |  |  |  | No            |                  2 | On Loan: No      |
| Capgemini SE                                           | Capgemini SE                                           | CUSIP: N/A<br>LEI: 96950077L0TN7BAROX36       | Long             | EC               | CORP              | FR        |    126040 | NS      | $21582635.65  | 2.03%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                               | U.S. Treasury Bills                                    | CUSIP: 912797PP6<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   1000000 | PA      | $993896.53    | 0.09%             | 2025-08-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Hellenic Telecommunications Organization SA            | Hellenic Telecommunications Organization SA            | CUSIP: N/A<br>LEI: ELPUFM0XZRZO4LFXW404       | Long             | EC               | CORP              | GR        |    829568 | NS      | $15771840.57  | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Electric Corp.                              | Mitsubishi Electric Corp.                              | CUSIP: N/A<br>LEI: 549300TRXM9Y6561AX39       | Long             | EC               | CORP              | JP        |    801536 | NS      | $17240217.83  | 1.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Zabka Group SA                                         | Zabka Group SA                                         | CUSIP: N/A<br>LEI: 549300TU2RZ35E4ET914       | Long             | EC               | CORP              | LU        |   3504326 | NS      | $21062409.59  | 1.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Murata Manufacturing Co. Ltd.                          | Murata Manufacturing Co. Ltd.                          | CUSIP: N/A<br>LEI: 529900QZG6DL8ZRI7140       | Long             | EC               | CORP              | JP        |    871545 | NS      | $12882036.04  | 1.21%             |  |  |  | No            |                  2 | On Loan: No      |
| ASR Nederland NV                                       | ASR Nederland NV                                       | CUSIP: N/A<br>LEI: 7245000G0HS48PZWUD53       | Long             | EC               | CORP              | NL        |    319958 | NS      | $21259793.55  | 2.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Electronics Co. Ltd.                           | Samsung Electronics Co. Ltd.                           | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               | CORP              | KR        |    359453 | NS      | $15895594.50  | 1.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                       | Deutsche Bank AG                                       | CUSIP: N/A<br>LEI: 7LTWFZYICNSX8D621K86       | Long             | EC               | CORP              | DE        |   1272925 | NS      | $37736411.24  | 3.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Melrose Industries plc                                 | Melrose Industries plc                                 | CUSIP: N/A<br>LEI: 213800RGNXXZY2M7TR85       | Long             | EC               | CORP              | GB        |   2168845 | NS      | $15796101.78  | 1.49%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-30

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

**Signature:** Monica Krogh

**Name of Signer:** Monica Krogh

**Title:** Assistant Treasurer