0001752724-20-146735.txt : 20200728 0001752724-20-146735.hdr.sgml : 20200728 20200728152234 ACCESSION NUMBER: 0001752724-20-146735 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20200531 FILED AS OF DATE: 20200728 PERIOD START: 20200831 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TEMPLETON GLOBAL SMALLER COMPANIES FUND CENTRAL INDEX KEY: 0000350900 IRS NUMBER: 592098933 STATE OF INCORPORATION: DE FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-03143 FILM NUMBER: 201053677 BUSINESS ADDRESS: STREET 1: 300 S.E. 2ND STREET CITY: FORT LAUDERDALE STATE: FL ZIP: 33301-1923 BUSINESS PHONE: 9545277500 MAIL ADDRESS: STREET 1: 300 S.E. 2ND STREET CITY: FORT LAUDERDALE STATE: FL ZIP: 33301-1923 FORMER COMPANY: FORMER CONFORMED NAME: TEMPLETON GLOBAL SMALLER COMPANIES FUND INC DATE OF NAME CHANGE: 19961112 FORMER COMPANY: FORMER CONFORMED NAME: TEMPLETON SMALLER COMPANIES GROWTH FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: TEMPLETON GLOBAL FUNDS INC DATE OF NAME CHANGE: 19910115 0000350900 S000008758 Templeton Global Smaller Companies Fund C000023841 Class A TEMGX C000023842 Class C TESGX C000023843 Advisor Class TGSAX C000128753 Class R6 FBOGX NPORT-P 1 primary_doc.xml NPORT-P false 0000350900 XXXXXXXX S000008758 C000023843 C000128753 C000023842 C000023841 Templeton Global Smaller Companies Fund 811-03143 0000350900 54930082GM0R0XO8CD89 300 S.E. 2nd Street Fort Lauderdale 33301-1923 954-527-7500 Templeton Global Smaller Companies Fund S000008758 54930082GM0R0XO8CD89 2020-08-31 2020-05-31 N 986610973.76 15115915.25 971495058.51 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 19870075.42000000 N BillerudKorsnas AB 549300A5J49FO7XDGE08 BillerudKorsnas AB N/A 471168.00000000 NS 6437113.95000000 0.662598733118 Long EC CORP SE N 2 N N N Greggs plc 213800I71QMUFJ64IW20 Greggs plc N/A 336674.00000000 NS 7712904.50000000 0.793921125222 Long EC CORP GB N 2 N N N Grand City Properties SA 5299002QLUYKK2WBMB18 Grand City Properties SA N/A 420824.00000000 NS 9566520.13000000 0.984721440032 Long EC CORP LU N 2 N N N Patrick Industries, Inc. 549300FZ5ZTCCJ3Z5W14 Patrick Industries, Inc. 703343103 151035.00000000 NS USD 7834185.45000000 0.806405074464 Long EC CORP US N 1 N N N Dometic Group AB 549300STIPMK5VSA7Y59 Dometic Group AB N/A 1781467.00000000 NS 15752527.36000000 1.621472721040 Long EC CORP SE N 2 N N N Idec Corp. N/A Idec Corp. N/A 529700.00000000 NS 8748916.81000000 0.900562152464 Long EC CORP JP N 1 N N N BNK Financial Group, Inc. N/A BNK Financial Group, Inc. N/A 1524210.00000000 NS 6284126.77000000 0.646851130631 Long EC CORP KR N 1 N N N FHLB 2549001DPIFGXC1TOL40 Federal Home Loan Banks 313384XP9 28500000.00000000 PA USD 28500000.00000000 2.933622744691 Long STIV USGA US N 2 2020-06-01 None 0.00000000 N N N N N N Winnebago Industries, Inc. 549300B7OYKYJLTE3G11 Winnebago Industries, Inc. 974637100 202210.00000000 NS USD 11000224.00000000 1.132298502564 Long EC CORP US N 1 N N N Bucher Industries AG 52990014AQ91A29HPB27 Bucher Industries AG (Registered) N/A 46681.00000000 NS 13521836.53000000 1.391858498049 Long EC CORP CH N 2 N N N Sakari Resources Ltd. 254900TUHZ8DLU2Y6T53 Sakari Resources Ltd. N/A 1342000.00000000 NS 458879.75000000 0.047234388479 Long EC CORP SG N 3 N N N BrightView Holdings, Inc. 549300F8QN8YHVI7L866 BrightView Holdings, Inc. 10948C107 345000.00000000 NS USD 4723050.00000000 0.486163049274 Long EC CORP US N 1 N N N en-japan, Inc. N/A en-japan, Inc. N/A 201800.00000000 NS 5438475.38000000 0.559804739340 Long EC CORP JP N 1 N N N Freshpet, Inc. 549300S4ZK8ZQ6HNPN59 Freshpet, Inc. 358039105 232200.00000000 NS USD 17921196.00000000 1.844702743777 Long EC CORP US N 1 N N N Kobayashi Pharmaceutical Co. Ltd. 529900WBSL04KD6TKP95 Kobayashi Pharmaceutical Co. Ltd. N/A 59978.00000000 NS 5339782.99000000 0.549645923901 Long EC CORP JP N 1 N N N AllianceBernstein Holding LP N/A AllianceBernstein Holding LP 01881G106 676265.00000000 NS USD 16886337.05000000 1.738180436645 Long US N 1 N N N Simpson Manufacturing Co., Inc. 529900EJUNNL15LZ8056 Simpson Manufacturing Co., Inc. 829073105 153040.00000000 NS USD 12252382.40000000 1.261188339834 Long EC CORP US N 1 N N N OneSpaWorld Holdings Ltd. 5493007W8PZ8W6UC2X76 OneSpaWorld Holdings Ltd. N/A 1478293.00000000 NS USD 9668036.22000000 0.995170910578 Long EC CORP BS N 1 N N N Canaccord Genuity Group, Inc. 5493002DR5KW4JP7YS87 Canaccord Genuity Group, Inc. 134801109 1492300.00000000 NS 6101858.52000000 0.628089506637 Long EC CORP CA N 1 N N N Ezaki Glico Co. Ltd. 3538001RG4BHKDFV6G61 Ezaki Glico Co. Ltd. N/A 228700.00000000 NS 11050051.01000000 1.137427402559 Long EC CORP JP N 1 N N N Levi Strauss & Co. MB0UERO0RDFKU8258G77 Levi Strauss & Co., Class A 52736R102 868100.00000000 NS USD 11710669.00000000 1.205427541542 Long EC CORP US N 1 N N Sonos, Inc. 549300WEPU6075I77M08 Sonos, Inc. 83570H108 1340200.00000000 NS USD 14554572.00000000 1.498162226612 Long EC CORP US N 1 N N N Catcher Technology Co. Ltd. 5299006PRSCU66N5JF55 Catcher Technology Co. Ltd. N/A 1089000.00000000 NS 7921585.64000000 0.815401537106 Long EC CORP TW N 1 N N N iShares Russell 2000 ETF 549300O80OAR5VTWR172 iShares Russell 2000 ETF 464287655 34846.00000000 NS USD 4840109.40000000 0.498212456934 Long RF US N 1 N N Alpargatas SA N/A Alpargatas SA N/A 1063987.00000000 NS 4949611.19000000 0.509483928574 Long EP CORP BR N 1 N N N Barco NV 549300N17QCD827TII61 Barco NV N/A 67332.00000000 NS 11793611.77000000 1.213965183527 Long EC CORP BE N 2 N N N Tsumura & Co. N/A Tsumura & Co. N/A 644700.00000000 NS 17912651.40000000 1.843823212798 Long EC CORP JP N 1 N N N Fiskars OYJ Abp 743700BKTW4EQIVKYY42 Fiskars OYJ Abp N/A 220600.00000000 NS 2551503.64000000 0.262636810928 Long EC CORP FI N 1 N N N Flow Traders 549300Z7LIC6NFIJL947 Flow Traders N/A 222759.00000000 NS 7793168.71000000 0.802183051960 Long EC CORP NL N 2 N N N Tripod Technology Corp. N/A Tripod Technology Corp. N/A 3011000.00000000 NS 11302929.69000000 1.163457249832 Long EC CORP TW N 1 N N N Oxford Instruments plc 213800J364EZD6UCE231 Oxford Instruments plc N/A 497260.00000000 NS 7766586.02000000 0.799446785855 Long EC CORP GB N 2 N N N DGB Financial Group, Inc. N/A DGB Financial Group, Inc. N/A 1178608.00000000 NS 5031431.30000000 0.517906010527 Long EC CORP KR N 1 N N N TrustCo Bank Corp. N/A TrustCo Bank Corp. 898349105 1170441.00000000 NS USD 7373778.30000000 0.759013464392 Long EC CORP US N 1 N N N Technogym SpA 815600B9149F66E77F76 Technogym SpA N/A 1872324.00000000 NS 15572334.77000000 1.602924753305 Long EC CORP IT N 2 N N N United Insurance Holdings Corp. 5299002P9105LJQA8G51 United Insurance Holdings Corp. 910710102 856490.00000000 NS USD 6714881.60000000 0.691190504900 Long EC CORP US N 1 N N N Brunello Cucinelli SpA 5493003CX2RZ0FOBH256 Brunello Cucinelli SpA N/A 243755.00000000 NS 7936700.88000000 0.816957411206 Long EC CORP IT N 2 N N N Rational AG 529900K139N6UFJ1A758 Rational AG N/A 23575.00000000 NS 12683524.06000000 1.305567532114 Long EC CORP DE N 2 N N N Hyster-Yale Materials Handling, Inc. N/A Hyster-Yale Materials Handling, Inc. 449172105 116400.00000000 NS USD 4261404.00000000 0.438643919253 Long EC CORP US N 1 N N N Nien Made Enterprise Co. Ltd. N/A Nien Made Enterprise Co. Ltd. N/A 764000.00000000 NS 6551703.43000000 0.674393901709 Long EC CORP TW N 1 N N N Rinnai Corp. N/A Rinnai Corp. N/A 167500.00000000 NS 14089075.40000000 1.450246738424 Long EC CORP JP N 1 N N N Bunka Shutter Co. Ltd. 3538006KDHDR2E6VDJ47 Bunka Shutter Co. Ltd. N/A 685600.00000000 NS 5124674.02000000 0.527503868919 Long EC CORP JP N 1 N N N TechnoPro Holdings, Inc. 3538001DJ8I5PJQNHU53 TechnoPro Holdings, Inc. N/A 110900.00000000 NS 6633636.28000000 0.682827588456 Long EC CORP JP N 1 N N N Thule Group AB 549300XHHOGBOERKU333 Thule Group AB N/A 857532.00000000 NS 19801856.93000000 2.038286943051 Long EC CORP SE N 2 N N N Texas Capital Bancshares, Inc. 549300466Q2SXRX0YM48 Texas Capital Bancshares, Inc. 88224Q107 153070.00000000 NS USD 4096153.20000000 0.421633971693 Long EC CORP US N 1 N N N Value Partners Group Ltd. 549300RYVTCSHFKXHB81 Value Partners Group Ltd. N/A 10565700.00000000 NS 3911985.37000000 0.402676816081 Long EC CORP KY N 1 N N N Columbia Sportswear Co. 549300OTMCIEUXAH5Z60 Columbia Sportswear Co. 198516106 227350.00000000 NS USD 16610191.00000000 1.709755582851 Long EC CORP US N 1 N N N Canada Goose Holdings, Inc. 529900891XBE6RV8JR07 Canada Goose Holdings, Inc. 135086106 137800.00000000 NS 2688145.83000000 0.276701956067 Long EC CORP CA N 1 N N Cloetta AB 549300CSLHPO6Y1AZN37 Cloetta AB, Class B N/A 1638654.00000000 NS 4131216.99000000 0.425243232460 Long EC CORP SE N 2 N N N Freni Brembo SpA 549300BLWVJN2BAT0A44 Freni Brembo SpA N/A 436393.00000000 NS 4113426.29000000 0.423411962208 Long EC CORP IT N 2 N N N Voya Financial, Inc. 549300T065Z4KJ686G75 Voya Financial, Inc. 929089100 175800.00000000 NS USD 7919790.00000000 0.815216704462 Long EC CORP US N 1 N N N Crown Holdings, Inc. NYLWZIOY8PUNIT4JOE22 Crown Holdings, Inc. 228368106 255000.00000000 NS USD 16684650.00000000 1.717419955340 Long EC CORP US N 1 N N N Interpump Group SpA 815600C79D0F31F4D395 Interpump Group SpA N/A 592309.00000000 NS 17799985.42000000 1.832226038009 Long EC CORP IT N 2 N N N Knowles Corp. 5493003EO323TDZQU148 Knowles Corp. 49926D109 896610.00000000 NS USD 13485014.40000000 1.388068244081 Long EC CORP US N 1 N N N Haitian International Holdings Ltd. 30030093DDRS825TVP62 Haitian International Holdings Ltd. N/A 3678000.00000000 NS 7762686.98000000 0.799045441559 Long EC CORP KY N 1 N N N King Yuan Electronics Co. Ltd. N/A King Yuan Electronics Co. Ltd. N/A 11061000.00000000 NS 11109349.66000000 1.143531257589 Long EC CORP TW N 1 N N N TriMas Corp. 75G1WUQ8QK4P5MZOYD78 TriMas Corp. 896215209 598350.00000000 NS USD 14150977.50000000 1.456618577319 Long EC CORP US N 1 N N N Asics Corp. 3538002LJMRZ83SU0B85 Asics Corp. N/A 1109500.00000000 NS 11781299.27000000 1.212697807034 Long EC CORP JP N 1 N N N LivaNova plc 2138001K2FX6SHK2B339 LivaNova plc N/A 106700.00000000 NS USD 5707383.00000000 0.587484511630 Long EC CORP GB N 1 N N N Camil Alimentos SA N/A Camil Alimentos SA N/A 5983400.00000000 NS 11131542.00000000 1.145815606831 Long EC CORP BR N 1 N N N Construcciones y Auxiliar de Ferrocarriles SA 95980020140005275134 Construcciones y Auxiliar de Ferrocarriles SA N/A 121455.00000000 NS 4197192.24000000 0.432034337512 Long EC CORP ES N 2 N N N Arcadis NV 7245000UZH70GO047N03 Arcadis NV N/A 431206.00000000 NS 7401952.79000000 0.761913581048 Long EC CORP NL N 2 N N N Landis+Gyr Group AG 529900PZYVAKCYSLFL19 Landis+Gyr Group AG N/A 96739.00000000 NS 6386780.90000000 0.657417744336 Long EC CORP CH N 2 N N N Gerresheimer AG 5299006GD4UWSYZOKC28 Gerresheimer AG N/A 219742.00000000 NS 18800414.61000000 1.935204347702 Long EC CORP DE N 2 N N N Canadian Western Bank 549300QG7XFGLKN6HL17 Canadian Western Bank 13677F101 378518.00000000 NS 6210125.37000000 0.639233860800 Long EC CORP CA N 1 N N N Jones Lang LaSalle, Inc. 6SYKCME112RT8TQUO411 Jones Lang LaSalle, Inc. 48020Q107 104700.00000000 NS USD 10721280.00000000 1.103585644217 Long EC CORP US N 1 N N N Huhtamaki OYJ 5493007050SJVMXN6L29 Huhtamaki OYJ N/A 491718.00000000 NS 19823708.87000000 2.040536253514 Long EC CORP FI N 1 N N N Livent Corp. 254900OOLQ2VNMZTJL47 Livent Corp. 53814L108 1413200.00000000 NS USD 9524968.00000000 0.980444307622 Long EC CORP US N 1 N N N Meitec Corp. N/A Meitec Corp. N/A 165300.00000000 NS 7971436.52000000 0.820532894138 Long EC CORP JP N 1 N N N IDOM, Inc. N/A IDOM, Inc. N/A 1813600.00000000 NS 8712276.73000000 0.896790637655 Long EC CORP JP N 1 N N N Aalberts NV 549300EMP9DT6Q35HZ31 Aalberts NV N/A 148409.00000000 NS 4074175.05000000 0.419371669913 Long EC CORP NL N 2 N N N Chicony Electronics Co. Ltd. N/A Chicony Electronics Co. Ltd. N/A 5455432.00000000 NS 15655081.98000000 1.611442265492 Long EC CORP TW N 1 N N N Hillenbrand, Inc. U246OE781574J2BUD366 Hillenbrand, Inc. 431571108 500410.00000000 NS USD 12880553.40000000 1.325848576085 Long EC CORP US N 1 N N N Huntington Bancshares, Inc. 549300XTVCVV9I7B5T19 Huntington Bancshares, Inc. 446150104 1466399.00000000 NS USD 13036287.11000000 1.341878890253 Long EC CORP US N 1 N N N PRA Health Sciences, Inc. 549300R1HR1VWWHIAK47 PRA Health Sciences, Inc. 69354M108 141900.00000000 NS USD 14686650.00000000 1.511757560818 Long EC CORP US N 1 N N N Ferro Corp. 1YTO5R7OHOPE81ZNYD08 Ferro Corp. 315405100 1109840.00000000 NS USD 13340276.80000000 1.373169804945 Long EC CORP US N 1 N N N Giant Manufacturing Co. Ltd. 549300M7TYVF50B2GY12 Giant Manufacturing Co. Ltd. N/A 1590311.00000000 NS 12470322.17000000 1.283621780755 Long EC CORP TW N 1 N N N LCI Industries 549300E1B98YNJ1WIQ04 LCI Industries 50189K103 107880.00000000 NS USD 10672568.40000000 1.098571557982 Long EC CORP US N 1 N N N M Dias Branco SA N/A M Dias Branco SA N/A 794100.00000000 NS 5375281.36000000 0.553299917782 Long EC CORP BR N 1 N N N Jenoptik AG 529900P34GDHGXK6VB37 Jenoptik AG N/A 368495.00000000 NS 8880153.00000000 0.914070835689 Long EC CORP DE N 2 N N N Man Group plc 2549003YWC1DW6LALB09 Man Group plc N/A 6138859.00000000 NS 10804417.20000000 1.112143299686 Long EC CORP JE N 2 N N N Janus Henderson Group plc 2138009WPYMWJN3RVF44 Janus Henderson Group plc N/A 355733.00000000 NS USD 7669603.48000000 0.789463972340 Long EC CORP JE N 1 N N N Tecan Group AG 529900CSN9R3BLETSL26 Tecan Group AG (Registered) N/A 39257.00000000 NS 13750722.98000000 1.415418725967 Long EC CORP CH N 2 N N N Nihon Parkerizing Co. Ltd. N/A Nihon Parkerizing Co. Ltd. N/A 529300.00000000 NS 5635133.08000000 0.580047528871 Long EC CORP JP N 1 N N N Matsumotokiyoshi Holdings Co. Ltd. N/A Matsumotokiyoshi Holdings Co. Ltd. N/A 166600.00000000 NS 6234174.16000000 0.641709302110 Long EC CORP JP N 1 N N N Merida Industry Co. Ltd. N/A Merida Industry Co. Ltd. N/A 1652000.00000000 NS 9922252.99000000 1.021338492983 Long EC CORP TW N 1 N N N OneSpaWorld Holdings Ltd. 5493007W8PZ8W6UC2X76 OneSpaWorld Holdings Ltd. N/A 314014.00000000 NS USD 379956.94000000 0.039110537585 Long CORP BS N 1 N N N Dowa Holdings Co. Ltd. 353800ZSQZKFE140A689 Dowa Holdings Co. Ltd. N/A 284700.00000000 NS 9135324.12000000 0.940336653282 Long EC CORP JP N 1 N N N Johnson Electric Holdings Ltd. 529900EDYRQ6K25JEC80 Johnson Electric Holdings Ltd. N/A 5036250.00000000 NS 8615249.40000000 0.886803213720 Long EC CORP BM N 1 N N N Alamo Group, Inc. 54930080C93RVZRSDV26 Alamo Group, Inc. 011311107 178410.00000000 NS USD 18433321.20000000 1.897417906404 Long EC CORP US N 1 N N N Seria Co. Ltd. N/A Seria Co. Ltd. N/A 233100.00000000 NS 7468798.11000000 0.768794246000 Long EC CORP JP N 1 N N N Zojirushi Corp. N/A Zojirushi Corp. N/A 554000.00000000 NS 8708429.94000000 0.896394671667 Long EC CORP JP N 1 N N Solutions 30 SE 2221003G8BRH3CPABK72 Solutions 30 SE N/A 544666.00000000 NS 7306812.90000000 0.752120439110 Long EC CORP LU N 2 N N Logitech International SA 549300SN6PRK6IJJC215 Logitech International SA (Registered) N/A 297170.00000000 NS USD 17663784.80000000 1.818206345495 Long EC CORP CH N 1 N N North West Co., Inc. (The) N/A North West Co., Inc. (The) 663278208 344400.00000000 NS 6700904.93000000 0.689751828514 Long EC CORP CA N 1 N N N Techtronic Industries Co. Ltd. 549300HZW2SBE758OK89 Techtronic Industries Co. Ltd. N/A 2140790.00000000 NS 18421159.01000000 1.896166001940 Long EC CORP HK N 1 N N N Finning International, Inc. 549300QLDCP11KB6XW55 Finning International, Inc. 318071404 103700.00000000 NS 1382767.09000000 0.142333929327 Long EC CORP CA N 1 N N N DCB Bank Ltd. 549300HLUOQ4ZGINVI30 DCB Bank Ltd. N/A 1313174.00000000 NS 1084180.88000000 0.111599217155 Long EC CORP IN N 2 N N N Matas A/S 2138004PXX8LWGHGL872 Matas A/S N/A 556473.00000000 NS 4976083.74000000 0.512208857514 Long EC CORP DK N 2 N N N Institutional Fiduciary Trust Money Market Portfolio N/A Institutional Fiduciary Trust Money Market Portfolio N/A 13267084.87000000 NS USD 13267084.87000000 1.365635857206 Long STIV RF US N 1 N N 2020-06-30 Templeton Global Smaller Companies Fund Robert Kubilis Robert Kubilis Chief Financial Officer, Chief Accounting Officer and Treasurer XXXX NPORT-EX 2 Templeton_Gbl_Smaller_Comp.htm
Templeton
Global
Smaller
Companies
Fund
Statement
of
Investments
(unaudited),
May
31,
2020
See
Notes
to
Statement
of
Investments.
Quarterly
Statement
of
Investments
1
a
a
Industry
Shares
a
Value
a
Common
Stocks
92.1%
Bahamas
1.0%
OneSpaWorld
Holdings
Ltd.
........
Diversified
Consumer
Services
1,478,293
$
9,668,036
Belgium
1.2%
Barco
NV
......................
Electronic
Equipment,
Instruments
&
Components
67,332
11,793,612
Brazil
1.7%
a
Camil
Alimentos
SA
...............
Food
Products
5,983,400
11,131,542
a
M
Dias
Branco
SA
................
Food
Products
794,100
5,375,281
16,506,823
Canada
2.4%
Canaccord
Genuity
Group,
Inc.
......
Capital
Markets
1,492,300
6,101,859
a,b
Canada
Goose
Holdings,
Inc.
.......
Textiles,
Apparel
&
Luxury
Goods
137,800
2,688,146
Canadian
Western
Bank
...........
Banks
378,518
6,210,125
Finning
International,
Inc.
..........
Trading
Companies
&
Distributors
103,700
1,382,767
North
West
Co.,
Inc.
(The)
..........
Food
&
Staples
Retailing
344,400
6,700,905
23,083,802
China
0.8%
Haitian
International
Holdings
Ltd.
....
Machinery
3,678,000
7,762,687
Denmark
0.5%
Matas
A/S
......................
Specialty
Retail
556,473
4,976,084
Finland
2.3%
Fiskars
OYJ
Abp
.................
Household
Durables
220,600
2,551,504
Huhtamaki
OYJ
..................
Containers
&
Packaging
491,718
19,823,709
22,375,213
France
0.8%
a,b
Solutions
30
SE
.................
IT
Services
544,666
7,306,813
a
Germany
5.2%
Gerresheimer
AG
................
Life
Sciences
Tools
&
Services
219,742
18,800,415
Grand
City
Properties
SA
..........
Real
Estate
Management
&
Development
420,824
9,566,520
Jenoptik
AG
....................
Electronic
Equipment,
Instruments
&
Components
368,495
8,880,153
Rational
AG
....................
Machinery
23,575
12,683,524
49,930,612
Hong
Kong
3.2%
Johnson
Electric
Holdings
Ltd.
......
Auto
Components
5,036,250
8,615,250
Techtronic
Industries
Co.
Ltd.
.......
Machinery
2,140,790
18,421,159
Value
Partners
Group
Ltd.
..........
Capital
Markets
10,565,700
3,911,985
30,948,394
India
0.1%
a
DCB
Bank
Ltd.
..................
Banks
1,148,474
948,201
a
Indonesia
0.0%
†
a,c
Sakari
Resources
Ltd.
.............
Oil,
Gas
&
Consumable
Fuels
1,342,000
458,880
a
Italy
4.7%
Brunello
Cucinelli
SpA
.............
Textiles,
Apparel
&
Luxury
Goods
243,755
7,936,701
Freni
Brembo
SpA
................
Auto
Components
436,393
4,113,426
Interpump
Group
SpA
.............
Machinery
592,309
17,799,985
a,d,e
Technogym
SpA
,
144A,
Reg
S
......
Leisure
Products
1,872,324
15,572,335
45,422,447
Templeton
Global
Smaller
Companies
Fund
Statement
of
Investments
(unaudited)
Quarterly
Statement
of
Investments
See
Notes
to
Statement
of
Investments.
2
a
a
Industry
Shares
a
Value
a
Common
Stocks
(continued)
Japan
14.4%
Asics
Corp.
.....................
Textiles,
Apparel
&
Luxury
Goods
1,109,500
$
11,781,299
Bunka
Shutter
Co.
Ltd.
............
Building
Products
685,600
5,124,674
Dowa
Holdings
Co.
Ltd.
............
Metals
&
Mining
284,700
9,135,324
en
-japan,
Inc.
...................
Professional
Services
201,800
5,438,475
Ezaki
Glico
Co.
Ltd.
..............
Food
Products
228,700
11,050,051
Idec
Corp.
......................
Electrical
Equipment
529,700
8,748,917
IDOM,
Inc.
.....................
Specialty
Retail
1,813,600
8,712,277
Kobayashi
Pharmaceutical
Co.
Ltd.
...
Personal
Products
59,978
5,339,783
Matsumotokiyoshi
Holdings
Co.
Ltd.
..
Food
&
Staples
Retailing
166,600
6,234,174
Meitec
Corp.
....................
Professional
Services
165,300
7,971,437
Nihon
Parkerizing
Co.
Ltd.
..........
Chemicals
529,300
5,635,133
Rinnai
Corp.
....................
Household
Durables
167,500
14,089,076
Seria
Co.
Ltd.
...................
Multiline
Retail
233,100
7,468,798
TechnoPro
Holdings,
Inc.
..........
Professional
Services
110,900
6,633,636
Tsumura
&
Co.
..................
Pharmaceuticals
644,700
17,912,651
b
Zojirushi
Corp.
..................
Household
Durables
554,000
8,708,430
139,984,135
Netherlands
2.0%
Aalberts
NV
....................
Machinery
148,409
4,074,175
Arcadis
NV
.....................
Construction
&
Engineering
431,206
7,401,953
d,e
Flow
Traders,
144A,
Reg
S
.........
Capital
Markets
222,759
7,793,169
19,269,297
South
Korea
1.2%
BNK
Financial
Group,
Inc.
..........
Banks
1,524,210
6,284,127
DGB
Financial
Group,
Inc.
..........
Banks
1,178,608
5,031,431
11,315,558
Spain
0.4%
Construcciones
y
Auxiliar
de
Ferrocarriles
SA
................
Machinery
121,455
4,197,192
Sweden
4.8%
BillerudKorsnas
AB
...............
Containers
&
Packaging
471,168
6,437,114
a
Cloetta
AB,
B
...................
Food
Products
1,638,654
4,131,217
a,d
Dometic
Group
AB,
144A
..........
Auto
Components
1,781,467
15,752,527
d,e
Thule
Group
AB,
144A,
Reg
S
.......
Leisure
Products
857,532
19,801,857
46,122,715
Switzerland
5.3%
Bucher
Industries
AG
.............
Machinery
46,681
13,521,836
a
Landis+Gyr
Group
AG
.............
Electronic
Equipment,
Instruments
&
Components
96,739
6,386,781
b
Logitech
International
SA
..........
Technology
Hardware,
Storage
&
Peripherals
297,170
17,663,785
Tecan
Group
AG
.................
Life
Sciences
Tools
&
Services
39,257
13,750,723
51,323,125
Taiwan
7.7%
Catcher
Technology
Co.
Ltd.
........
Technology
Hardware,
Storage
&
Peripherals
1,089,000
7,921,586
Chicony
Electronics
Co.
Ltd.
........
Technology
Hardware,
Storage
&
Peripherals
5,455,432
15,655,082
Giant
Manufacturing
Co.
Ltd.
........
Leisure
Products
1,590,311
12,470,322
King
Yuan
Electronics
Co.
Ltd.
......
Semiconductors
&
Semiconductor
Equipment
11,061,000
11,109,350
Merida
Industry
Co.
Ltd.
...........
Leisure
Products
1,652,000
9,922,253
Nien
Made
Enterprise
Co.
Ltd.
......
Household
Durables
764,000
6,551,703
Templeton
Global
Smaller
Companies
Fund
Statement
of
Investments
(unaudited)
See
Notes
to
Statement
of
Investments.
Quarterly
Statement
of
Investments
3
a
a
Industry
Shares
a
Value
a
Common
Stocks
(continued)
Taiwan
(continued)
Tripod
Technology
Corp.
...........
Electronic
Equipment,
Instruments
&
Components
3,011,000
$
11,302,930
74,933,226
United
Kingdom
3.5%
Greggs
plc
.....................
Hotels,
Restaurants
&
Leisure
336,674
7,712,905
Janus
Henderson
Group
plc
........
Capital
Markets
355,733
7,669,603
Man
Group
plc
..................
Capital
Markets
6,138,859
10,804,417
Oxford
Instruments
plc
............
Electronic
Equipment,
Instruments
&
Components
497,260
7,766,586
33,953,511
United
States
28.9%
Alamo
Group,
Inc.
................
Machinery
178,410
18,433,321
a
BrightView
Holdings,
Inc.
...........
Commercial
Services
&
Supplies
345,000
4,723,050
Columbia
Sportswear
Co.
..........
Textiles,
Apparel
&
Luxury
Goods
227,350
16,610,191
a
Crown
Holdings,
Inc.
..............
Containers
&
Packaging
255,000
16,684,650
a
Ferro
Corp.
.....................
Chemicals
1,109,840
13,340,277
a
Freshpet
,
Inc.
...................
Food
Products
232,200
17,921,196
Hillenbrand,
Inc.
.................
Machinery
500,410
12,880,554
Huntington
Bancshares,
Inc.
........
Banks
1,466,399
13,036,287
Hyster
-Yale
Materials
Handling,
Inc.
..
Machinery
116,400
4,261,404
Jones
Lang
LaSalle,
Inc.
...........
Real
Estate
Management
&
Development
104,700
10,721,280
a
Knowles
Corp.
..................
Electronic
Equipment,
Instruments
&
Components
896,610
13,485,014
LCI
Industries
...................
Auto
Components
107,880
10,672,568
b
Levi
Strauss
&
Co.,
A
.............
Textiles,
Apparel
&
Luxury
Goods
868,100
11,710,669
a
LivaNova
plc
....................
Health
Care
Equipment
&
Supplies
106,700
5,707,383
a
Livent
Corp.
....................
Chemicals
1,413,200
9,524,968
Patrick
Industries,
Inc.
.............
Building
Products
151,035
7,834,186
a
PRA
Health
Sciences,
Inc.
..........
Life
Sciences
Tools
&
Services
141,900
14,686,650
Simpson
Manufacturing
Co.,
Inc.
.....
Building
Products
153,040
12,252,382
a
Sonos
,
Inc.
.....................
Household
Durables
1,340,200
14,554,572
a
Texas
Capital
Bancshares,
Inc.
......
Banks
153,070
4,096,153
a
TriMas
Corp.
....................
Machinery
598,350
14,150,978
TrustCo
Bank
Corp.
..............
Thrifts
&
Mortgage
Finance
1,170,441
7,373,778
United
Insurance
Holdings
Corp.
.....
Insurance
856,490
6,714,882
Voya
Financial,
Inc.
...............
Diversified
Financial
Services
175,800
7,919,790
Winnebago
Industries,
Inc.
.........
Automobiles
202,210
11,000,224
280,296,407
Total
Common
Stocks
(Cost
$761,627,384)
.....................................
892,576,770
Management
Investment
Companies
0.5%
United
States
0.5%
b
iShares
Russell
2000
ETF
..........
Capital
Markets
34,846
4,840,109
Total
Management
Investment
Companies
(Cost
$4,851,636)
.....................
4,840,109
Preferred
Stocks
0.5%
Brazil
0.5%
Alpargatas
SA
...................
Textiles,
Apparel
&
Luxury
Goods
1,063,987
4,949,611
Total
Preferred
Stocks
(Cost
$3,002,133)
.......................................
4,949,611
Templeton
Global
Smaller
Companies
Fund
Statement
of
Investments
(unaudited)
Quarterly
Statement
of
Investments
See
Notes
to
Statement
of
Investments.
4
See
Abbreviations
on
page
8
.
a
a
Industry
Warrants
a
Value
a
a
a
a
a
a
Warrants
0.0%
†
Bahamas
0.0%
†
OneSpaWorld
Holdings
Ltd.
,
3/19/24
..
Diversified
Consumer
Services
314,014
$
379,957
Total
Warrants
(Cost
$–)
......................................................
379,957
Units
Private
Limited
Partnership
Funds
1.8%
United
States
1.8%
AllianceBernstein
Holding
LP
.......
Capital
Markets
676,265
16,886,337
Total
Private
Limited
Partnership
Funds
(Cost
$8,921,060)
.......................
16,886,337
Total
Long
Term
Investments
(Cost
$778,402,213)
...............................
919,632,784
Short
Term
Investments
4.3%
a
a
Principal
Amount
*
a
Value
a
a
a
a
a
a
U.S.
Government
and
Agency
Securities
2.9%
f
FHLB,
6/01/20
..................
28,500,000
28,500,000
Total
U.S.
Government
and
Agency
Securities
(Cost
$28,500,000)
.................
28,500,000
Shares
Investments
from
Cash
Collateral
Received
for
Loaned
Securities
1.4%
Money
Market
Funds
1.4%
g,h
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
0%
.............
13,267,085
13,267,085
Total
Investments
from
Cash
Collateral
Received
for
Loaned
Securities
(Cost
$13,267,085)
................................................................
13,267,085
a
a
a
a
a
Total
Short
Term
Investments
(Cost
$41,767,085
)
................................
41,767,085
a
a
a
a
Total
Investments
(Cost
$820,169,298)
99.2%
...................................
$961,399,869
Other
Assets,
less
Liabilities
0.8%
.............................................
7,995,460
Net
Assets
100.0%
...........................................................
$969,395,329
a
a
a
*
The
principal
amount
is
stated
in
U.S.
dollars
unless
otherwise
indicated.
†
Rounds
to
less
than
0.1%
of
net
assets.
a
Non-income
producing.
b
A
portion
or
all
of
the
security
is
on
loan
at
May
31,
2020.
c
Fair
valued
using
significant
unobservable
inputs.
See
Note
6
regarding
fair
value
measurements.
d
Security
was
purchased
pursuant
to
Rule
144A
under
the
Securities
Act
of
1933
and
may
be
sold
in
transactions
exempt
from
registration
only
to
qualified
institutional
buyers
or
in
a
public
offering
registered
under
the
Securities
Act
of
1933.
At
May
31,
2020,
the
aggregate
value
of
these
securities
was
$58,919,888,
representing
6.1%
of
net
assets.
e
Security
was
purchased
pursuant
to
Regulation
S
under
the
Securities
Act
of
1933,
which
exempts
from
registration
securities
offered
and
sold
outside
of
the
United
States.
Such
a
security
cannot
be
sold
in
the
United
States
without
either
an
effective
registration
statement
filed
pursuant
to
the
Securities
Act
of
1933,
or
pursuant
to
an
exemption
from
registration.
At
May
31,
2020,
the
aggregate
value
of
these
securities
was
$43,167,361,
representing
4.5%
of
net
assets.
f
The
security
was
issued
on
a
discount
basis
with
no
stated
coupon
rate.
g
See
Note
5
regarding
investments
in
affiliated
management
investment
companies.
h
The
rate
shown
is
the
annualized
seven-day
effective
yield
at
period
end.
Templeton
Global
Smaller
Companies
Fund
5
Notes
to
Statement
of
Investments
(unaudited)
1.
Organization
Templeton
Global
Smaller
Companies
Fund
(Fund)
is
registered
under
the
Investment
Company
Act
of
1940
(1940
Act)
as
an
open-end
management
investment
company
and
applies
the
specialized
accounting
and
reporting
guidance
in
U.S.
Generally
Accepted
Accounting
Principles
(U.S.
GAAP). 
2. Financial
Instrument
Valuation
The
Fund's investments
in
financial
instruments
are
carried
at
fair
value
daily.
Fair
value
is
the
price
that
would
be
received
to
sell
an
asset
or
paid
to
transfer
a
liability
in
an
orderly
transaction
between
market
participants
on
the
measurement
date.
The
Fund
calculates the
net
asset
value
(NAV)
per
share
each
business
day
as
of
4
p.m.
Eastern
time
or
the
regularly
scheduled
close
of
the
New
York
Stock
Exchange
(NYSE),
whichever
is
earlier.
Under
compliance
policies
and
procedures
approved
by
the
Fund’s
Board
of
Trustees
(the
Board),
the
Fund’s
administrator
has
responsibility
for
oversight
of
valuation,
including
leading
the
cross-functional
Valuation
Committee
(VC).
The
Fund
may
utilize
independent
pricing
services,
quotations
from
securities
and
financial
instrument
dealers,
and
other
market
sources
to
determine
fair
value. 
Equity
securities
and
exchange
traded
funds
listed
on
an
exchange
or
on
the
NASDAQ
National
Market
System
are
valued
at
the
last
quoted
sale
price
or
the
official
closing
price
of
the
day,
respectively.
Foreign
equity
securities
are
valued
as
of
the
close
of
trading
on
the
foreign
stock
exchange
on
which
the
security
is
primarily
traded
or
as
of
4
p.m.
Eastern
time.
The
value
is
then
converted
into
its
U.S.
dollar
equivalent
at
the
foreign
exchange
rate
in
effect
at
4
p.m. Eastern
time
on
the
day
that
the
value
of
the
security
is
determined.
Over-the-counter
(OTC)
securities
are
valued
within
the
range
of
the
most
recent
quoted
bid
and
ask
prices.
Securities
that
trade
in
multiple
markets
or
on
multiple
exchanges
are
valued
according
to
the
broadest
and
most
representative
market.
Certain
equity
securities
are
valued
based
upon
fundamental
characteristics
or
relationships
to
similar
securities. 
Debt
securities
generally
trade
in
the
OTC
market
rather
than
on
a
securities
exchange.
The Fund's
pricing
services
use
multiple
valuation
techniques
to
determine
fair
value.
In
instances
where
sufficient
market
activity
exists,
the
pricing
services
may
utilize
a
market-based
approach
through
which
quotes
from
market
makers
are
used
to
determine
fair
value.
In
instances
where
sufficient
market
activity
may
not
exist
or
is
limited,
the
pricing
services
also
utilize
proprietary
valuation
models
which
may
consider
market
characteristics
such
as
benchmark
yield
curves,
credit
spreads,
estimated
default
rates,
anticipated
market
interest
rate
volatility,
coupon
rates,
anticipated
timing
of
principal
repayments,
underlying
collateral,
and
other
unique
security
features
in
order
to
estimate
the
relevant
cash
flows,
which
are
then
discounted
to
calculate
the
fair
value. 
Investments
in
open-end
mutual
funds
are
valued
at
the
closing
NAV.
The
Fund
has procedures
to
determine
the
fair
value
of
financial
instruments
for
which
market
prices
are
not
reliable
or
readily
available.
Under
these
procedures,
the
Fund
primarily employs
a
market-based
approach
which
may
use
related
or
comparable
assets
or
liabilities,
recent
transactions,
market
multiples,
book
values,
and
other
relevant
information
for
the
investment
to
determine
the
fair
value
of
the
investment.
An
income-based
valuation
approach
may
also
be
used
in
which
the
anticipated
future
cash
flows
of
the
investment
are
discounted
to
calculate
fair
value.
Discounts
may
also
be
applied
due
to
the
nature
or
duration
of
any
restrictions
on
the
disposition
of
the
investments.
Due
to
the
inherent
uncertainty
of
valuations
of
such
investments,
the
fair
values
may
differ
significantly
from
the
values
that
would
have
been
used
had
an
active
market
existed. 
Trading
in
securities
on
foreign
securities
stock
exchanges
and
OTC
markets
may
be
completed
before
4
p.m.
Eastern
time.
In
addition,
trading
in
certain
foreign
markets
may
not
take
place
on
every
Fund’s
business
day.
Occasionally,
events
occur
between
the
time
at
which
trading
in
a
foreign
security
is
completed
and
4
p.m.
Eastern
time
that
might
call
into
question
the
reliability
of
the
value
of
a
portfolio
security
held
by
the
Fund.
As
a
result,
differences
may
arise
between
the
value
of
the
Fund’s
portfolio securities
as
determined
at
the
foreign
market
close
and
the
latest
indications
of
value
at
4
p.m.
Eastern
time.
In
order
to
minimize
the
potential
for
these
differences,
the VC
monitors
price
movements
following
the
close
of
trading
in
foreign
stock
markets
through
a
series
of
country
specific
market
proxies
(such
as
baskets
of
American
Depositary
Receipts,
Templeton
Global
Smaller
Companies
Fund
Notes
to
Statement
of
Investments
(unaudited)
6
futures
contracts
and
exchange
traded
funds).
These
price
movements
are
measured
against
established
trigger
thresholds
for
each
specific
market
proxy
to
assist
in
determining
if
an
event
has
occurred
that
may
call
into
question
the
reliability
of
the
values
of
the
foreign
securities
held
by
the
Fund.
If
such
an
event
occurs,
the
securities
may
be
valued
using
fair
value
procedures,
which
may
include
the
use
of
independent
pricing
services.
At
May
31,
2020,
a
market
event
occurred
resulting
in
a
portion
of
the
securities
held
by
the
Fund
being
valued
using
fair
value
procedures.
 When
the
last
day
of
the
reporting
period
is
a
non-business
day,
certain
foreign
markets
may
be
open
on
those
days
that
the
Fund’s
NAV
is
not
calculated,
which
could
result
in
differences
between
the
value
of
the
Fund’s
portfolio
securities
on
the
last
business
day
and
the
last
calendar
day
of
the
reporting
period.
Any
significant
security
valuation
changes
due
to
an
open
foreign
market
are
adjusted
and
reflected
by
the
Fund for
financial
reporting
purposes.
3.
Concentration
of
Risk 
Investing
in
foreign
securities
may
include
certain
risks
and
considerations
not
typically
associated
with
investing
in
U.S.
securities,
such
as
fluctuating
currency
values
and changing
local, regional
and
global
economic,
political
and
social
conditions,
which
may
result
in
greater
market
volatility.
Current
political
and
financial
uncertainty
surrounding
the
European
Union
may
increase
market
volatility
and
the
economic
risk
of
investing
in
securities
in
Europe.
In
addition,
certain
foreign
securities
may
not
be
as
liquid
as
U.S.
securities. 
4. Novel
Coronavirus
Pandemic 
The
global
outbreak
of
the
novel
coronavirus
disease,
known
as
COVID-19, has
caused
adverse
effects
on
many
companies,
sectors,
nations,
regions
and
the
markets
in
general, and
may
continue for
an unpredictable duration.
The
effects
of
this
pandemic
may
materially
impact
the
value
and
performance
of
the Fund, its ability
to
buy
and
sell
fund
investments
at
appropriate
valuations
and its ability
to
achieve its investment
objectives.
5.
Investments
in
Affiliated
Management
Investment
Companies 
The
Fund
invests
in
one
or
more
affiliated
management
investment
companies
for
purposes
other
than
exercising
a
controlling
influence
over
the
management
or
policies.
During
the
period
ended
May
31,
2020,
the
Fund
held
investments
in
affiliated
management
investment
companies
as
follows: 
a
Value
at
Beginning
of
Period
Purchases
Sales
Realized
Gain
(Loss)
Net
Change
in
Unrealized
Appreciation
(Depreciation)
Value
at
End
of
Period
Number
of
Shares
Held
at
End
of
Period
Investment
Income
a
a
a
a
a
a
a
a
a
Templeton
Global
Smaller
Companies
Fund
Non-Controlled
Affiliates
Income
from
securities
loaned
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
0%
...........
$9,552,884
$65,746,039
$(62,031,838)
$
—
$
—
$
13,267,085
13,267,085
$
45,378
Total
Affiliated
Securities
......
$9,552,884
$65,746,039
$(62,031,838)
$—
$—
$13,267,085
$45,378
2. Financial
Instrument
Valuation
(continued)
Templeton
Global
Smaller
Companies
Fund
Notes
to
Statement
of
Investments
(unaudited)
7
6. Fair
Value
Measurements 
The Fund
follows a
fair
value
hierarchy
that
distinguishes
between
market
data
obtained
from
independent
sources
(observable
inputs)
and
the Fund's
own
market
assumptions
(unobservable
inputs).
These
inputs
are
used
in
determining
the
value
of
the
Fund's
financial
instruments
and
are
summarized
in
the
following
fair
value
hierarchy:
Level
1
–
quoted
prices
in
active
markets
for
identical
financial
instruments
Level
2
–
other
significant
observable
inputs
(including
quoted
prices
for
similar
financial
instruments,
interest
rates,
prepayment
speed,
credit
risk,
etc.)
Level
3
–
significant
unobservable
inputs
(including
the
Fund's
own
assumptions
in
determining
the
fair
value
of
financial
instruments)
The
input
levels
are
not
necessarily
an
indication
of
the
risk
or
liquidity
associated
with
financial
instruments
at
that
level.
A
summary
of
inputs
used
as
of
May
31,
2020,
in
valuing
the Fund's
assets
carried
at
fair
value,
is
as
follows:  
A
reconciliation
in
which
Level
3
inputs
are
used
in
determining
fair
value
is
presented
when
there
are
significant
Level
3
assets
and/or
liabilities
at
the
beginning
and/or
end
of
the
period.
Level
1
Level
2
Level
3
Total
Templeton
Global
Smaller
Companies
Fund
Assets:
Investments
in
Securities:
Common
Stocks
:
Bahamas
............................
$
9,668,036
$
—
$
—
$
9,668,036
Belgium
.............................
—
11,793,612
—
11,793,612
Brazil
...............................
16,506,823
—
—
16,506,823
Canada
.............................
23,083,802
—
—
23,083,802
China
...............................
7,762,687
—
—
7,762,687
Denmark
............................
—
4,976,084
—
4,976,084
Finland
..............................
22,375,213
—
—
22,375,213
France
..............................
—
7,306,813
—
7,306,813
Germany
............................
—
49,930,612
—
49,930,612
Hong
Kong
...........................
30,948,394
—
—
30,948,394
India
................................
—
948,201
—
948,201
Indonesia
............................
—
—
458,880
458,880
Italy
................................
—
45,422,447
—
45,422,447
Japan
...............................
139,984,135
—
—
139,984,135
Netherlands
..........................
—
19,269,297
—
19,269,297
South
Korea
..........................
11,315,558
—
—
11,315,558
Spain
...............................
—
4,197,192
—
4,197,192
Sweden
.............................
—
46,122,715
—
46,122,715
Switzerland
...........................
17,663,785
33,659,340
—
51,323,125
Taiwan
..............................
74,933,226
—
—
74,933,226
United
Kingdom
.......................
7,669,603
26,283,908
—
33,953,511
United
States
.........................
280,296,407
—
—
280,296,407
Management
Investment
Companies
.........
4,840,109
—
—
4,840,109
Preferred
Stocks
........................
4,949,611
—
—
4,949,611
Warrants
..............................
379,957
—
—
379,957
Private
Limited
Partnership
Funds
............
16,886,337
—
—
16,886,337
Short
Term
Investments
...................
13,267,085
28,500,000
—
41,767,085
Total
Investments
in
Securities
...........
$682,530,768
$278,410,221
$458,880
$961,399,869
Templeton
Global
Smaller
Companies
Fund
Notes
to
Statement
of
Investments
(unaudited)
8
7.
Subsequent
Events
The Fund
has
evaluated
subsequent
events
through
the
issuance
of
the
Statement
of
Investments
and
determined
that
no
events
have
occurred
that
require
disclosure.
Abbreviations
Selected
Portfolio
ETF
Exchange-Traded
Fund
FHLB
Federal
Home
Loan
Banks
For
additional
information
on
the
Fund's
significant
accounting
policies,
please
refer
to
the Fund's
most
recent
semiannual
or
annual
shareholder
report.