0001752724-22-212735.txt : 20220922 0001752724-22-212735.hdr.sgml : 20220922 20220922123746 ACCESSION NUMBER: 0001752724-22-212735 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20220731 FILED AS OF DATE: 20220922 DATE AS OF CHANGE: 20220922 PERIOD START: 20230430 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FRANKLIN STRATEGIC SERIES CENTRAL INDEX KEY: 0000872625 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-06243 FILM NUMBER: 221258737 BUSINESS ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 BUSINESS PHONE: 650-570-3000 MAIL ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 FORMER COMPANY: FORMER CONFORMED NAME: FRANKLIN CALIFORNIA 250 GROWTH FUND DATE OF NAME CHANGE: 19911216 FORMER COMPANY: FORMER CONFORMED NAME: FRANKLIN CALIFORNIA 250 GROWTH INDEX FUND DATE OF NAME CHANGE: 19910917 0000872625 S000006878 FRANKLIN GROWTH OPPORTUNITIES FUND C000018615 CLASS A FGRAX C000018617 CLASS C FKACX C000018618 ADVISOR CLASS FRAAX C000018619 CLASS R FKARX C000128860 Class R6 FOPPX NPORT-P 1 primary_doc.xml NPORT-P false 0000872625 XXXXXXXX S000006878 C000018615 C000128860 C000018617 C000018619 C000018618 Franklin Strategic Series 811-06243 0000872625 549300NDWC0J6DXVSX36 One Franklin Parkway San Mateo 94403-1906 650-312-2000 Franklin Growth Opportunities Fund S000006878 549300B6FDJC678OK402 2023-04-30 2022-07-31 N 4149134231.40 56510541.63 4092623689.77 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 1755864.03000000 N Intercontinental Exchange, Inc. 5493000F4ZO33MV32P92 Intercontinental Exchange, Inc. 45866F104 230132.00000000 NS USD 23471162.68000000 0.573499164818 Long EC CORP US N 1 N N N Monster Beverage Corp. 52990090AP0E7HCB6F33 Monster Beverage Corp. 61174X109 531365.00000000 NS USD 52934581.30000000 1.293414330575 Long EC CORP US N 1 N N N Nevro Corp. 254900SH91I4BOYKUE38 Nevro Corp. 64157F103 239275.00000000 NS USD 10372571.25000000 0.253445516525 Long EC CORP US N 1 N N N Heron Therapeutics, Inc. 549300DR2I1DOPD2IX53 Heron Therapeutics, Inc. 427746102 2051293.00000000 NS USD 5702594.54000000 0.139338355350 Long EC CORP US N 1 N N Crowdstrike Holdings, Inc. 549300YBY08K9KM4HX32 Crowdstrike Holdings, Inc., Class A 22788C105 102338.00000000 NS USD 18789256.80000000 0.459100523875 Long EC CORP US N 1 N N N CELONIS SE ORD USD 1 *180 DAYS LOCKUP UPON IPO* N/A Celonis SE N/A 4619.00000000 NS USD 1708060.01000000 0.041735085839 Long EC CORP DE Y 3 N N N Space Exploration Technologies Corp. N/A Space Exploration Technologies Corp., Class A N/A 142857.00000000 NS USD 9999990.00000000 0.244341790450 Long EC CORP US Y 3 N N N CoStar Group, Inc. N/A CoStar Group, Inc. 22160N109 1041250.00000000 NS USD 75584337.50000000 1.846843082322 Long EC CORP US N 1 N N N NVIDIA Corp. 549300S4KLFTLO7GSQ80 NVIDIA Corp. 67066G104 581112.00000000 NS USD 105547372.56000000 2.578965977835 Long EC CORP US N 1 N N N Amazon.com, Inc. ZXTILKJKG63JELOEG630 Amazon.com, Inc. 023135106 2363906.00000000 NS USD 319009114.70000000 7.794733620327 Long EC CORP US N 1 N N N Danaher Corp. S4BKK9OTCEWQ3YHPFM11 Danaher Corp. 235851102 387023.00000000 NS USD 112805593.81000000 2.756314832755 Long EC CORP US N 1 N N N Alphabet, Inc. 5493006MHB84DD0ZWV18 Alphabet, Inc., Class C 02079K107 1204420.00000000 NS USD 140483548.80000000 3.432603616871 Long EC CORP US N 1 N N N Intuit, Inc. VI90HBPH7XSFMB9E4M29 Intuit, Inc. 461202103 183282.00000000 NS USD 83607749.94000000 2.042888774479 Long EC CORP US N 1 N N N Constellation Brands, Inc. 5493005GKEG8QCVY7037 Constellation Brands, Inc., Class A 21036P108 105048.00000000 NS USD 25874372.88000000 0.632219691848 Long EC CORP US N 1 N N N Snowflake, Inc. 254900CJNSY1K7T53Z16 Snowflake, Inc., Class A 833445109 130151.00000000 NS USD 19510936.41000000 0.476734190313 Long EC CORP US N 1 N N N SBA Communications Corp. 5299001HX8ZN8Y8QIT49 SBA Communications Corp. 78410G104 360486.00000000 NS USD 121047593.94000000 2.957701541008 Long EC CORP US N 1 N N N Republic Services, Inc. NKNQHM6BLECKVOQP7O46 Republic Services, Inc. 760759100 146638.00000000 NS USD 20332825.08000000 0.496816385313 Long EC CORP US N 1 N N N Apple, Inc. HWUPKR0MPOU8FGXBT394 Apple, Inc. 037833100 1238359.00000000 NS USD 201245721.09000000 4.917278898449 Long EC CORP US N 1 N N N Freshpet, Inc. 549300S4ZK8ZQ6HNPN59 Freshpet, Inc. 358039105 192209.00000000 NS USD 10271648.96000000 0.250979560756 Long EC CORP US N 1 N N N NextEra Energy, Inc. N/A NextEra Energy, Inc. 65339F101 310887.00000000 NS USD 26266842.63000000 0.641809377579 Long EC CORP US N 1 N N N Atlassian Corp. plc 549300AGBII4MWBVJY22 Atlassian Corp. plc, Class A N/A 108932.00000000 NS USD 22801646.24000000 0.557140063890 Long EC CORP GB N 1 N N N Marqeta, Inc. N/A Marqeta, Inc., Class A 57142B104 1521288.00000000 NS USD 14589151.92000000 0.356474306603 Long EC CORP US N 1 N N N Uber Technologies, Inc. 549300B2FTG34FILDR98 Uber Technologies, Inc. 90353T100 722479.00000000 NS USD 16942132.55000000 0.413967514099 Long EC CORP US N 1 N N N Mastercard, Inc. AR5L2ODV9HN37376R084 Mastercard, Inc., Class A 57636Q104 562080.00000000 NS USD 198858283.20000000 4.858943755250 Long EC CORP US N 1 N N N Confluent, Inc. 254900MRZ83YWUV7SN74 Confluent, Inc., Class A 20717M103 706331.00000000 NS USD 17976123.95000000 0.439232270363 Long EC CORP US N 1 N N N Tesla, Inc. 54930043XZGB27CTOV49 Tesla, Inc. 88160R101 49694.00000000 NS USD 44299716.30000000 1.082428282148 Long EC CORP US N 1 N N N Wheels Up Experience, Inc. N/A Wheels Up Experience, Inc. N/A 34260.00000000 NS USD 0.00000000 0.000000 Long EC CORP US N 3 N N N Aptiv plc N/A Aptiv plc N/A 178656.00000000 NS USD 18739227.84000000 0.457878106087 Long EC CORP JE N 1 N N N Dutch Bros, Inc. N/A Dutch Bros, Inc., Class A 26701L100 462699.00000000 NS USD 17346585.51000000 0.423850000022 Long EC CORP US N 1 N N Bill.com Holdings, Inc. 549300IBF9VZZIGOZW63 Bill.com Holdings, Inc. 090043100 434988.00000000 NS USD 58758179.04000000 1.435709302735 Long EC CORP US N 1 N N N ASML Holding NV 724500Y6DUVHQD6OXN27 ASML Holding NV N/A 37652.00000000 NS USD 21628814.88000000 0.528482863793 Long EC CORP NL N 1 N N N Illumina, Inc. SQ95QG8SR5Q56LSNF682 Illumina, Inc. 452327109 95195.00000000 NS USD 20626852.60000000 0.504000713565 Long EC CORP US N 1 N N N Proterra, Inc. N/A Proterra, Inc., Escrow Account N/A 127451.00000000 NS USD 0.00000000 0.000000 Long EC CORP US N 3 N N N GLOBALFOUNDRIES, Inc. 549300BA76VK784VMX48 GLOBALFOUNDRIES, Inc. N/A 270998.00000000 NS USD 13950977.04000000 0.340881011730 Long EC CORP KY N 1 N N Chipotle Mexican Grill, Inc. N/A Chipotle Mexican Grill, Inc. 169656105 39696.00000000 NS USD 62093277.12000000 1.517199767845 Long EC CORP US N 1 N N N Adobe, Inc. FU4LY2G4933NH2E1CP29 Adobe, Inc. 00724F101 171623.00000000 NS USD 70386024.76000000 1.719826451084 Long EC CORP US N 1 N N N Veeva Systems, Inc. 549300YZEXPDB92M2F02 Veeva Systems, Inc., Class A 922475108 247123.00000000 NS USD 55251760.34000000 1.350032754736 Long EC CORP US N 1 N N N ZoomInfo Technologies, Inc. N/A ZoomInfo Technologies, Inc. 98980F104 279339.00000000 NS USD 10584154.71000000 0.258615389840 Long EC CORP US N 1 N N N Wheels Up Experience, Inc. N/A Wheels Up Experience, Inc., Escrow Account N/A 34260.00000000 NS USD 0.00000000 0.000000 Long EC CORP US N 3 N N N Talkdesk, Inc. N/A Talkdesk, Inc., Series C N/A 1753060.00000000 NS USD 13722219.15000000 0.335291494898 Long EC CORP US Y 3 N N N MSCI, Inc. 549300HTIN2PD78UB763 MSCI, Inc. 55354G100 184238.00000000 NS USD 88681118.92000000 2.166852504462 Long EC CORP US N 1 N N N ClearMotion, Inc. N/A ClearMotion, Inc. N/A 251500.00000000 PA USD 342040.00000000 0.008357474958 Long DBT CORP US Y 3 2022-12-21 Fixed 7.00000000 N N N N N N Tempus Labs, Inc. N/A Tempus Labs, Inc., Series F N/A 504854.00000000 NS USD 18153243.28000000 0.443560040112 Long EP CORP US Y 3 N N N S&P Global, Inc. Y6X4K52KMJMZE7I7MY94 S&P Global, Inc. 78409V104 174352.00000000 NS USD 65718499.36000000 1.605779185715 Long EC CORP US N 1 N N N Linde plc 8945002PAZHZLBGKGF02 Linde plc N/A 170767.00000000 NS USD 51571634.00000000 1.260111798915 Long EC CORP IE N 1 N N N AstraZeneca plc PY6ZZQWO2IZFZC3IOL08 AstraZeneca plc 046353108 937875.00000000 NS USD 62115461.25000000 1.517741819392 Long EC CORP GB N 1 N N N Tanium, Inc. N/A Tanium, Inc. N/A 805800.00000000 NS USD 6338998.14000000 0.154888370407 Long EP CORP US Y 3 N N N Wheels Up Experience, Inc. N/A Wheels Up Experience, Inc., Escrow Account N/A 34260.00000000 NS USD 0.00000000 0.000000 Long EC CORP US N 3 N N N Roper Technologies, Inc. 54930003T4SXCIWVXY35 Roper Technologies, Inc. 776696106 103989.00000000 NS USD 45408876.63000000 1.109529731343 Long EC CORP US N 1 N N N Meta Platforms, Inc. BQ4BKCS1HXDV9HN80Z93 Meta Platforms, Inc., Class A 30303M102 302310.00000000 NS USD 48097521.00000000 1.175224614963 Long EC CORP US N 1 N N N ClearMotion, Inc. N/A ClearMotion, Inc. N/A 3698772.00000000 NS USD 210926.17000000 0.005153812956 Long EP CORP US Y 3 N N N Okta, Inc. 549300N8J06I8MRHU620 Okta, Inc. 679295105 149727.00000000 NS USD 14740623.15000000 0.360175385458 Long EC CORP US N 1 N N N IL MAKIAGE COSMETICS (2013) Ltd. N/A IL MAKIAGE Cosmetics (2013) Ltd. N/A 37734.00000000 NS USD 18054892.70000000 0.441156922028 Long EC CORP IL Y 3 N N N Monday.com Ltd. N/A Monday.com Ltd. N/A 42563.00000000 NS USD 4372496.99000000 0.106838481166 Long EC CORP IL N 1 N N N Tempus Labs, Inc. N/A Tempus Labs, Inc., Series G N/A 126131.00000000 NS USD 4535344.33000000 0.110817526207 Long EP CORP US Y 3 N N N Proterra, Inc. N/A Proterra, Inc., Escrow Account N/A 127452.00000000 NS USD 0.00000000 0.000000 Long EC CORP US N 3 N N N Analog Devices, Inc. GYVOE5EZ4GDAVTU4CQ61 Analog Devices, Inc. 032654105 231566.00000000 NS USD 39820089.36000000 0.972972165985 Long EC CORP US N 1 N N N CELONIS SE N/A Celonis SE N/A 12050.00000000 NS USD 4455969.50000000 0.108878065460 Long EC CORP DE Y 3 N N N ClearMotion, Inc. N/A ClearMotion, Inc. N/A 2610594.00000000 NS USD 148871.73000000 0.003637562143 Long EP CORP US Y 3 N N N Wheels Up Experience, Inc. N/A Wheels Up Experience, Inc. 96328L106 5475092.00000000 NS USD 12264206.08000000 0.299666106870 Long EC CORP US N 1 N N N OneTrust LLC N/A OneTrust LLC, Series C N/A 517056.00000000 NS USD 6295508.40000000 0.153825733251 Long EC CORP US Y 3 N N N ClearMotion, Inc. N/A ClearMotion, Inc. N/A 125750.00000000 NS USD 0.00000000 0.000000 Long EC CORP US Y 3 N N N Edwards Lifesciences Corp. YA13X31F3V31L8TMPR58 Edwards Lifesciences Corp. 28176E108 504885.00000000 NS USD 50761137.90000000 1.240307972288 Long EC CORP US N 1 N N N Sweetgreen, Inc. N/A Sweetgreen, Inc., Class A 87043Q108 1185200.00000000 NS USD 18619492.00000000 0.454952456208 Long EC CORP US N 1 N N Figs, Inc. N/A Figs, Inc., Class A 30260D103 2463856.00000000 NS USD 26042957.92000000 0.636338933019 Long EC CORP US N 1 N N N Proterra, Inc. N/A Proterra, Inc. 74374T109 3858008.00000000 NS USD 20794663.12000000 0.508101029957 Long EC CORP US N 1 N N IDEXX Laboratories, Inc. OGMTXK0LUU1HKV2P0J84 IDEXX Laboratories, Inc. 45168D104 52443.00000000 NS USD 20934196.74000000 0.511510422820 Long EC CORP US N 1 N N N HashiCorp, Inc. N/A HashiCorp, Inc., Class A 418100103 562494.00000000 NS USD 20384782.56000000 0.498085924952 Long EC CORP US N 1 N N N Institutional Fiduciary Trust Money Market Portfolio N/A Institutional Fiduciary Trust Money Market Portfolio 8611239C3 42827185.00000000 NS USD 42827185.00000000 1.046448152735 Long STIV RF US N 1 N N West Pharmaceutical Services, Inc. 5493007NKRGM1RJQ1P16 West Pharmaceutical Services, Inc. 955306105 274792.00000000 NS USD 94407539.52000000 2.306773030610 Long EC CORP US N 1 N N N ServiceNow, Inc. 549300HJTQM36M0E1G39 ServiceNow, Inc. 81762P102 244466.00000000 NS USD 109193183.56000000 2.668048465656 Long EC CORP US N 1 N N N Proterra, Inc. N/A Proterra, Inc., Escrow Account N/A 127452.00000000 NS USD 0.00000000 0.000000 Long EC CORP US N 3 N N N Legalzoom.com, Inc. 5493000L8EBF74Y9JZ48 Legalzoom.com, Inc. 52466B103 1673284.00000000 NS USD 17536016.32000000 0.428478590979 Long EC CORP US N 1 N N Databricks, Inc. N/A Databricks, Inc., Series G N/A 112760.00000000 NS USD 13774622.00000000 0.336571916798 Long EC CORP US Y 3 N N N Walt Disney Co. (The) 549300GZKULIZ0WOW665 Walt Disney Co. (The) 254687106 177004.00000000 NS USD 18780124.40000000 0.458877380955 Long EC CORP US N 1 N N N Microsoft Corp. INR2EJN1ERAN0W5ZP974 Microsoft Corp. 594918104 749290.00000000 NS USD 210355674.60000000 5.139873356199 Long EC CORP US N 1 N N N Fanatics Holdings, Inc. N/A Fanatics Holdings, Inc. N/A 1029939.00000000 NS USD 65011534.56000000 1.588505063939 Long EC CORP US Y 3 N N N Rivian Automotive, Inc. N/A Rivian Automotive, Inc., Class A 76954A103 878250.00000000 NS USD 30123975.00000000 0.736055334755 Long EC CORP US N 1 N N N NIKE, Inc. 787RXPR0UX0O0XUXPZ81 NIKE, Inc., Class B 654106103 365502.00000000 NS USD 42003489.84000000 1.026321817590 Long EC CORP US N 1 N N N TransUnion 549300ZS772LUNUMRB03 TransUnion 89400J107 228625.00000000 NS USD 18113958.75000000 0.442600153912 Long EC CORP US N 1 N N N Honeywell International, Inc. ISRPG12PN4EIEOEMW547 Honeywell International, Inc. 438516106 149012.00000000 NS USD 28678849.52000000 0.700744844723 Long EC CORP US N 1 N N N Canva, Inc. N/A Canva, Inc. N/A 11829.00000000 NS USD 7711287.98000000 0.188419179590 Long EC CORP US Y 3 N N N Intuitive Surgical, Inc. 54930052SRG011710797 Intuitive Surgical, Inc. 46120E602 225064.00000000 NS USD 51802980.88000000 1.265764575655 Long EC CORP US N 1 N N N Union Pacific Corp. 549300LMMRSZZCZ8CL11 Union Pacific Corp. 907818108 262175.00000000 NS USD 59592377.50000000 1.456092277649 Long EC CORP US N 1 N N N Shopify, Inc. 549300HGQ43STJLLP808 Shopify, Inc., Class A 82509L107 473582.00000000 NS USD 16494861.06000000 0.403038791502 Long EC CORP CA N 1 N N N Tyler Technologies, Inc. 25490040SMU4Z8LBCW70 Tyler Technologies, Inc. 902252105 57246.00000000 NS USD 22841154.00000000 0.558105404537 Long EC CORP US N 1 N N N Optoro, Inc. N/A Optoro, Inc. N/A 556026.00000000 NS USD 9728734.66000000 0.237713882278 Long EP CORP US Y 3 N N N UnitedHealth Group, Inc. 549300GHBMY8T5GXDE41 UnitedHealth Group, Inc. 91324P102 217301.00000000 NS USD 117851024.34000000 2.879595908966 Long EC CORP US N 1 N N N Thermo Fisher Scientific, Inc. HCHV7422L5HDJZCRFL38 Thermo Fisher Scientific, Inc. 883556102 74558.00000000 NS USD 44616252.78000000 1.090162598909 Long EC CORP US N 1 N N N Guardant Health, Inc. 254900M8C3E5VC8BR186 Guardant Health, Inc. 40131M109 437773.00000000 NS USD 21963071.41000000 0.536650155862 Long EC CORP US N 1 N N N Synopsys, Inc. QG7T915N9S0NY5UKNE63 Synopsys, Inc. 871607107 161876.00000000 NS USD 59489430.00000000 1.453576837486 Long EC CORP US N 1 N N N Visa, Inc. 549300JZ4OKEHW3DPJ59 Visa, Inc., Class A 92826C839 359967.00000000 NS USD 76352600.37000000 1.865614973613 Long EC CORP US N 1 N N N Institutional Fiduciary Trust - Money Market Portfolio 549300M4TP89K77LG374 Institutional Fiduciary Trust - Money Market Portfolio 457756500 17570110.32100000 NS USD 17570110.32000000 0.429311650712 Long STIV RF US N 1 N N N Paycom Software, Inc. 254900LSB0HNJUDC6Q18 Paycom Software, Inc. 70432V102 78421.00000000 NS USD 25917356.29000000 0.633269957235 Long EC CORP US N 1 N N N Catalent, Inc. N/A Catalent, Inc. 148806102 340278.00000000 NS USD 38485441.80000000 0.940361115931 Long EC CORP US N 1 N N N Lacework, Inc. N/A Lacework, Inc., Series D N/A 810440.00000000 NS USD 15897445.16000000 0.388441409840 Long EP CORP US Y 3 N N N Salesforce, Inc. RCGZFPDMRW58VJ54VR07 Salesforce, Inc. 79466L302 229200.00000000 NS USD 42177384.00000000 1.030570782880 Long EC CORP US N 1 N N N Workday, Inc. 549300J0DYC0N31V7G13 Workday, Inc., Class A 98138H101 197464.00000000 NS USD 30626666.40000000 0.748338198709 Long EC CORP US N 1 N N N Cloudflare, Inc. 5493007DY18BGNLDWU14 Cloudflare, Inc., Class A 18915M107 127140.00000000 NS USD 6397684.80000000 0.156322332199 Long EC CORP US N 1 N N N Monolithic Power Systems, Inc. 529900TB7O85LSZ1XU31 Monolithic Power Systems, Inc. 609839105 150900.00000000 NS USD 70126248.00000000 1.713479012871 Long EC CORP US N 1 N N N 2022-08-30 Franklin Strategic Series Jeffrey W. White Jeffrey W. White Assistant Treasurer XXXX NPORT-EX 2 FSS.htm
Not
FDIC
Insured
May
Lose
Value
No
Bank
Guarantee
FSS-Q1PH
1
Schedule
of
Investments
(unaudited)
Franklin
Biotechnology
Discovery
Fund
2
Franklin
Growth
Opportunities
Fund
5
Franklin
Natural
Resources
Fund
10
Franklin
Small
Cap
Growth
Fund
14
Franklin
Small-Mid
Cap
Growth
Fund
20
Franklin
Strategic
Income
Fund
25
Notes
to
Schedules
of
Investments
212
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited),
July
31,
2022
Franklin
Biotechnology
Discovery
Fund
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
2
a
a
Country
Shares
a
Value
a
a
a
a
a
a
Common
Stocks
97.2%
Biotechnology
75.0%
a
Albireo
Pharma,
Inc.
...................................
United
States
301,243
$
6,262,842
a
Alector
,
Inc.
..........................................
United
States
399,945
4,087,438
Amgen,
Inc.
.........................................
United
States
259,360
64,183,819
a
Applied
Molecular
Transport,
Inc.
.........................
United
States
138,000
262,200
a
Applied
Therapeutics,
Inc.
...............................
United
States
1,575,654
1,701,706
a
Arcutis
Biotherapeutics
,
Inc.
.............................
United
States
141,456
3,431,723
a
Argenx
SE,
ADR
......................................
Netherlands
58,158
21,181,725
a
Ascendis
Pharma
A/S,
ADR
.............................
Denmark
298,600
25,539,258
a,b
BELLUS
Health,
Inc.
...................................
Canada
587,700
5,765,337
a
Biogen,
Inc.
.........................................
United
States
133,875
28,791,157
a
BioMarin
Pharmaceutical,
Inc.
............................
United
States
142,456
12,258,339
a
Candel
Therapeutics,
Inc.
...............................
United
States
400,800
1,242,480
a,b
Centessa
Pharmaceuticals
plc,
ADR
.......................
United
States
278,993
1,205,250
a
Codiak
Biosciences,
Inc.
................................
United
States
72,452
189,824
a
CRISPR
Therapeutics
AG
...............................
Switzerland
106,514
7,988,550
a
Cullinan
Oncology,
Inc.
.................................
United
States
113,700
1,536,087
a
Cytokinetics,
Inc.
......................................
United
States
254,100
10,756,053
a
Day
One
Biopharmaceuticals,
Inc.
.........................
United
States
546,133
9,355,258
a
Dyne
Therapeutics,
Inc.
................................
United
States
355,434
3,728,503
a
Equillium
,
Inc.
........................................
United
States
294,800
651,508
a
Fate
Therapeutics,
Inc.
.................................
United
States
222,810
6,802,389
Gilead
Sciences,
Inc.
..................................
United
States
614,827
36,735,913
a
Harpoon
Therapeutics,
Inc.
..............................
United
States
445,299
868,333
a
Heron
Therapeutics,
Inc.
................................
United
States
1,739,677
4,836,302
a,c,d
HilleVax
,
Inc.
.........................................
United
States
202,922
2,341,174
a,b
HilleVax
,
Inc.
.........................................
United
States
220,134
2,976,212
a
Horizon
Therapeutics
plc
................................
United
States
526,871
43,714,487
a
Insmed
,
Inc.
.........................................
United
States
780,500
17,264,660
a
Iovance
Biotherapeutics
,
Inc.
.............................
United
States
1,395,901
16,262,247
a
IVERIC
bio,
Inc.
......................................
United
States
419,108
4,480,265
a
Karuna
Therapeutics,
Inc.
...............................
United
States
43,937
5,722,794
a
Keros
Therapeutics,
Inc.
................................
United
States
153,551
4,925,916
a
Kezar
Life
Sciences,
Inc.
................................
United
States
449,150
4,388,196
a
Legend
Biotech
Corp.,
ADR
.............................
United
States
159,125
7,517,065
a
LogicBio
Therapeutics,
Inc.
..............................
United
States
120,913
47,458
a
Merus
NV
...........................................
Netherlands
280,694
6,787,181
a
Mirati
Therapeutics,
Inc.
................................
United
States
319,821
20,596,472
a
Moderna
,
Inc.
........................................
United
States
97,615
16,017,645
a
Neurocrine
Biosciences,
Inc.
.............................
United
States
177,673
16,724,359
a,b
Novavax
,
Inc.
........................................
United
States
59,882
3,264,168
a,b
Pardes
Biosciences,
Inc.
................................
United
States
74,431
209,895
a
Prometheus
Biosciences,
Inc.
............................
United
States
178,787
7,628,841
a
PTC
Therapeutics,
Inc.
.................................
United
States
667,774
29,081,558
a
Regeneron
Pharmaceuticals,
Inc.
.........................
United
States
69,833
40,621,158
a,b
Reneo
Pharmaceuticals,
Inc.
.............................
United
States
158,423
559,233
a
Rocket
Pharmaceuticals,
Inc.
............................
United
States
217,526
3,154,127
a
Sage
Therapeutics,
Inc.
................................
United
States
101,070
3,477,819
a
Seagen
,
Inc.
.........................................
United
States
180,710
32,524,186
a
Sutro
Biopharma,
Inc.
..................................
United
States
916,889
5,363,801
a
Taysha
Gene
Therapies,
Inc.
.............................
United
States
304,256
1,238,322
a
Ultragenyx
Pharmaceutical,
Inc.
..........................
United
States
60,696
3,233,883
a
Vertex
Pharmaceuticals,
Inc.
.............................
United
States
234,058
65,632,203
a
VistaGen
Therapeutics,
Inc.
.............................
United
States
2,977,111
426,025
625,543,344
Health
Care
Providers
&
Services
1.1%
a
Guardant
Health,
Inc.
..................................
United
States
173,066
8,682,721
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Biotechnology
Discovery
Fund
(continued)
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
3
a
a
Country
Shares
a
Value
a
a
a
a
a
a
Common
Stocks
(continued)
Life
Sciences
Tools
&
Services
5.6%
a
Avantor
,
Inc.
.........................................
United
States
65,600
$
1,903,712
a,b
Codex
DNA,
Inc.
......................................
United
States
282,207
539,016
a
Illumina,
Inc.
.........................................
United
States
129,900
28,146,732
Thermo
Fisher
Scientific,
Inc.
............................
United
States
26,900
16,097,229
46,686,689
Pharmaceuticals
15.5%
AstraZeneca
plc,
ADR
..................................
United
Kingdom
502,075
33,252,427
a
Catalent
,
Inc.
........................................
United
States
22,700
2,567,370
a
EyePoint
Pharmaceuticals,
Inc.
...........................
United
States
1,172,900
10,708,577
a
Intra-Cellular
Therapies,
Inc.
.............................
United
States
461,126
24,956,139
a
Jazz
Pharmaceuticals
plc
...............................
United
States
273,563
42,692,242
a
Marinus
Pharmaceuticals,
Inc.
............................
United
States
149,200
831,044
a
Pliant
Therapeutics,
Inc.
................................
United
States
300,500
5,219,685
a
Reata
Pharmaceuticals,
Inc.,
A
...........................
United
States
95,965
2,944,206
a
Revance
Therapeutics,
Inc.
..............................
United
States
376,766
5,847,409
129,019,099
Total
Common
Stocks
(Cost
$604,405,745)
.....................................
809,931,853
Preferred
Stocks
0.2%
Biotechnology
0.1%
a,c,d
Pipeline
Therapeutics,
Inc.,
C
............................
United
States
779,505
818,218
a
Health
Care
Providers
&
Services
0.1%
a,c,d
Artiva
Biotherapeutics
,
Inc.,
B
............................
United
States
189,499
868,598
a
Total
Preferred
Stocks
(Cost
$4,173,484)
.......................................
1,686,816
Warrants
Warrants
0.2%
Biotechnology
0.2%
a
Applied
Therapeutics,
Inc.,
6/27/27
........................
United
States
2,442,100
1,861,895
1,861,895
Pharmaceuticals
0.0%
†
a
Nuvation
Bio,
Inc.,
7/07/27
..............................
United
States
115,266
32,274
Total
Warrants
(Cost
$813,919)
................................................
1,894,169
Shares
Escrows
and
Litigation
Trusts
0.0%
a,c
Sanofi
SA
...........................................
France
2,333,755
—
Total
Escrows
and
Litigation
Trusts
(Cost
$9,748)
...............................
—
Total
Long
Term
Investments
(Cost
$609,402,896)
...............................
813,512,838
a
Short
Term
Investments
2.8%
a
a
Country
Shares
a
Value
a
a
a
Money
Market
Funds
2.5%
e,f
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
1.445%
....
United
States
20,568,633
20,568,633
Total
Money
Market
Funds
(Cost
$20,568,633)
..................................
20,568,633
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Biotechnology
Discovery
Fund
(continued)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
4
See
Abbreviations
on
page
231
.
Short
Term
Investments
(continued)
a
a
Country
Shares
a
Value
a
a
a
a
a
a
Investments
from
Cash
Collateral
Received
for
Loaned
Securities
0.3%
Money
Market
Funds
0.3%
e,f
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
1.445%
....
United
States
2,828,080
$
2,828,079
Total
Investments
from
Cash
Collateral
Received
for
Loaned
Securities
(Cost
$2,828,079)
............................................................
2,828,079
Total
Short
Term
Investments
(Cost
$23,396,712
)
................................
23,396,712
a
Total
Investments
(Cost
$632,799,608)
100.4%
..................................
$836,909,550
Other
Assets,
less
Liabilities
(0.4)%
...........................................
(3,170,306)
Net
Assets
100.0%
...........................................................
$833,739,244
†
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
July
31,
2022.
c
Fair
valued
using
significant
unobservable
inputs.
See
Note
6
regarding
fair
value
measurements.
d
See
Note
3
regarding
restricted
securities.
e
See
Note
5
regarding
investments
in
affiliated
management
investment
companies.
f
The
rate
shown
is
the
annualized
seven-day
effective
yield
at
period
end.
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited),
July
31,
2022
Franklin
Growth
Opportunities
Fund
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
5
a
a
Country
Shares
a
Value
a
a
a
a
a
a
Common
Stocks
97.3%
Aerospace
&
Defense
0.2%
a,b,c
Space
Exploration
Technologies
Corp.,
A
....................
United
States
142,857
$
9,999,990
Airlines
0.3%
b
Wheels
Up
Experience,
Inc.
.............................
United
States
5,475,092
12,264,206
Auto
Components
0.5%
b
Aptiv
plc
............................................
United
States
178,656
18,739,228
Automobiles
1.8%
b
Rivian
Automotive,
Inc.,
A
...............................
United
States
878,250
30,123,975
b
Tesla,
Inc.
...........................................
United
States
49,694
44,299,716
74,423,691
Beverages
1.9%
Constellation
Brands,
Inc.,
A
.............................
United
States
105,048
25,874,373
b
Monster
Beverage
Corp.
................................
United
States
531,365
52,934,581
78,808,954
Biotechnology
0.1%
b,d
Heron
Therapeutics,
Inc.
................................
United
States
2,051,293
5,702,595
Capital
Markets
4.3%
Intercontinental
Exchange,
Inc.
...........................
United
States
230,132
23,471,163
MSCI,
Inc.
...........................................
United
States
184,238
88,681,119
S&P
Global,
Inc.
......................................
United
States
174,352
65,718,499
177,870,781
Chemicals
1.3%
Linde
plc
............................................
United
Kingdom
170,767
51,571,634
Commercial
Services
&
Supplies
0.6%
a,b,c
Celonis
SE
..........................................
Germany
16,669
6,164,029
Republic
Services,
Inc.
.................................
United
States
146,638
20,332,825
26,496,854
Electric
Utilities
0.6%
NextEra
Energy,
Inc.
...................................
United
States
310,887
26,266,843
Entertainment
0.5%
b
Walt
Disney
Co.
(The)
..................................
United
States
177,004
18,780,124
Equity
Real
Estate
Investment
Trusts
(REITs)
3.0%
SBA
Communications
Corp.
.............................
United
States
360,486
121,047,594
Food
Products
0.3%
b
Freshpet,
Inc.
........................................
United
States
192,209
10,271,649
Health
Care
Equipment
&
Supplies
4.3%
b
Edwards
Lifesciences
Corp.
.............................
United
States
504,885
50,761,138
b
Figs,
Inc.,
A
..........................................
United
States
2,463,856
26,042,958
b
IDEXX
Laboratories,
Inc.
................................
United
States
52,443
20,934,197
a,b,c
IL
MAKIAGE
Cosmetics
(2013)
Ltd.
........................
Israel
37,734
18,054,892
b
Intuitive
Surgical,
Inc.
..................................
United
States
225,064
51,802,981
b
Nevro
Corp.
.........................................
United
States
239,275
10,372,571
177,968,737
Health
Care
Providers
&
Services
3.4%
b
Guardant
Health,
Inc.
..................................
United
States
437,773
21,963,072
UnitedHealth
Group,
Inc.
................................
United
States
217,301
117,851,024
139,814,096
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Growth
Opportunities
Fund
(continued)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
6
a
a
Country
Shares
a
Value
a
a
a
a
a
a
Common
Stocks
(continued)
Health
Care
Technology
1.4%
b
Veeva
Systems,
Inc.,
A
.................................
United
States
247,123
$
55,251,760
Hotels,
Restaurants
&
Leisure
2.4%
b
Chipotle
Mexican
Grill,
Inc.
..............................
United
States
39,696
62,093,278
b,d
Dutch
Bros,
Inc.,
A
....................................
United
States
462,699
17,346,585
b,d
Sweetgreen,
Inc.,
A
....................................
United
States
1,185,200
18,619,492
98,059,355
Industrial
Conglomerates
0.7%
Honeywell
International,
Inc.
.............................
United
States
149,012
28,678,849
Interactive
Media
&
Services
4.9%
b
Alphabet,
Inc.,
C
......................................
United
States
1,204,420
140,483,549
b
Meta
Platforms,
Inc.,
A
.................................
United
States
302,310
48,097,521
b
ZoomInfo
Technologies,
Inc.,
A
...........................
United
States
279,339
10,584,154
199,165,224
Internet
&
Direct
Marketing
Retail
7.8%
b
Amazon.com,
Inc.
.....................................
United
States
2,363,906
319,009,115
IT
Services
8.5%
a,b,c
Canva,
Inc.
..........................................
Australia
11,829
7,711,288
b
Cloudflare,
Inc.,
A
.....................................
United
States
127,140
6,397,685
b
Marqeta,
Inc.,
A
.......................................
United
States
1,521,288
14,589,152
Mastercard,
Inc.,
A
....................................
United
States
562,080
198,858,283
b
Okta,
Inc.
...........................................
United
States
149,727
14,740,623
b
Shopify,
Inc.,
A
.......................................
Canada
258,320
8,997,286
b
Snowflake,
Inc.,
A
.....................................
United
States
130,151
19,510,936
Visa,
Inc.,
A
..........................................
United
States
359,967
76,352,600
347,157,853
Leisure
Products
1.6%
a,b,c
Fanatics
Holdings,
Inc.
.................................
United
States
1,029,939
65,011,535
Life
Sciences
Tools
&
Services
6.7%
Danaher
Corp.
.......................................
United
States
387,023
112,805,594
b
Illumina,
Inc.
.........................................
United
States
95,195
20,626,853
Thermo
Fisher
Scientific,
Inc.
............................
United
States
74,558
44,616,253
West
Pharmaceutical
Services,
Inc.
........................
United
States
274,792
94,407,539
272,456,239
Machinery
0.5%
b,d
Proterra,
Inc.
.........................................
United
States
3,858,008
20,794,663
Pharmaceuticals
2.5%
AstraZeneca
plc,
ADR
..................................
United
Kingdom
937,875
62,115,461
b
Catalent,
Inc.
........................................
United
States
340,278
38,485,442
100,600,903
Professional
Services
2.7%
b
CoStar
Group,
Inc.
....................................
United
States
1,041,250
75,584,338
b,d
Legalzoom.com,
Inc.
...................................
United
States
1,673,284
17,536,016
TransUnion
..........................................
United
States
228,625
18,113,959
111,234,313
Road
&
Rail
1.9%
b
Uber
Technologies,
Inc.
.................................
United
States
722,479
16,942,133
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Growth
Opportunities
Fund
(continued)
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
7
a
a
Country
Shares
a
Value
a
a
a
a
a
a
Common
Stocks
(continued)
Road
&
Rail
(continued)
Union
Pacific
Corp.
....................................
United
States
262,175
$
59,592,377
76,534,510
Semiconductors
&
Semiconductor
Equipment
6.1%
Analog
Devices,
Inc.
...................................
United
States
231,566
39,820,089
ASML
Holding
NV,
NYRS
...............................
Netherlands
37,652
21,628,815
b,d
GLOBALFOUNDRIES,
Inc.
..............................
United
States
270,998
13,950,977
Monolithic
Power
Systems,
Inc.
...........................
United
States
150,900
70,126,248
NVIDIA
Corp.
........................................
United
States
581,112
105,547,373
251,073,502
Software
20.6%
b
Adobe,
Inc.
..........................................
United
States
171,623
70,386,025
b
Atlassian
Corp.
plc,
A
..................................
United
States
108,932
22,801,646
b
Bill.com
Holdings,
Inc.
..................................
United
States
434,988
58,758,179
b
Confluent,
Inc.,
A
......................................
United
States
706,331
17,976,124
b
Crowdstrike
Holdings,
Inc.,
A
.............................
United
States
102,338
18,789,257
b
HashiCorp,
Inc.,
A
.....................................
United
States
562,494
20,384,782
Intuit,
Inc.
...........................................
United
States
183,282
83,607,750
Microsoft
Corp.
.......................................
United
States
749,290
210,355,675
b
Monday.com
Ltd.
......................................
United
States
42,563
4,372,497
b
Paycom
Software,
Inc.
.................................
United
States
78,421
25,917,356
Roper
Technologies,
Inc.
................................
United
States
103,989
45,408,877
b
Salesforce,
Inc.
.......................................
United
States
229,200
42,177,384
b
ServiceNow,
Inc.
......................................
United
States
244,466
109,193,184
b
Synopsys,
Inc.
.......................................
United
States
161,876
59,489,430
b
Tyler
Technologies,
Inc.
.................................
United
States
57,246
22,841,154
b
Workday,
Inc.,
A
......................................
United
States
197,464
30,626,666
843,085,986
Technology
Hardware,
Storage
&
Peripherals
4.9%
Apple,
Inc.
..........................................
United
States
1,238,359
201,245,721
Textiles,
Apparel
&
Luxury
Goods
1.0%
NIKE,
Inc.,
B
.........................................
United
States
365,502
42,003,490
Total
Common
Stocks
(Cost
$1,862,627,819)
....................................
3,981,389,994
Convertible
Preferred
Stocks
0.9%
Software
0.9%
a,b,c
Databricks,
Inc.,
G
....................................
United
States
112,760
13,774,622
a,b,c
Lacework,
Inc.,
D
.....................................
United
States
810,440
15,897,445
a,b,c
OneTrust
LLC,
C
......................................
United
States
517,056
6,295,509
35,967,576
Total
Convertible
Preferred
Stocks
(Cost
$50,470,099)
...........................
35,967,576
Preferred
Stocks
1.3%
Commercial
Services
&
Supplies
0.2%
a,b,c,e
Optoro,
Inc.,
E
.......................................
United
States
556,026
9,728,735
b
Health
Care
Providers
&
Services
0.6%
a,b,c
Tempus
Labs,
Inc.,
F
...................................
United
States
504,854
18,153,243
a,b,c
Tempus
Labs,
Inc.,
G
..................................
United
States
126,131
4,535,344
22,688,587
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Growth
Opportunities
Fund
(continued)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
8
a
a
Country
Shares
a
Value
a
a
a
a
a
a
Preferred
Stocks
(continued)
Software
0.5%
a,b,c,e
ClearMotion,
Inc.,
C
...................................
United
States
2,610,594
$
148,872
a,b,c,e
ClearMotion,
Inc.,
D
...................................
United
States
3,698,772
210,926
a,b,c,e
Talkdesk,
Inc.,
C
......................................
United
States
1,753,060
13,722,219
a,b,c
Tanium,
Inc.,
G
.......................................
United
States
805,800
6,338,998
20,421,015
Total
Preferred
Stocks
(Cost
$59,298,188)
......................................
52,838,337
Warrants
Warrants
0.0%
Software
0.0%
a,b,c,e
ClearMotion,
Inc.,
2/01/49
...............................
United
States
125,750
—
Total
Warrants
(Cost
$–)
......................................................
—
Principal
Amount
*
Corporate
Bonds
0.0%
†
a,c,e
ClearMotion,
Inc.
,
7
%
,
12/21/22
...........................
United
States
251,500
342,040
Total
Corporate
Bonds
(Cost
$251,500)
........................................
342,040
Shares
a
Escrows
and
Litigation
Trusts
0.0%
a,b
Proterra,
Inc.,
Escrow
Account
...........................
United
States
382,355
—
a,b
Wheels
Up
Experience,
Inc.,
Escrow
Account
................
United
States
102,780
—
Total
Escrows
and
Litigation
Trusts
(Cost
$–)
...................................
—
Total
Long
Term
Investments
(Cost
$1,972,647,606)
.............................
4,070,537,947
a
Short
Term
Investments
1.5%
a
a
Country
Shares
a
Value
a
a
a
Money
Market
Funds
0.5%
f,g
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
1.445%
....
United
States
19,362,989
19,362,989
Total
Money
Market
Funds
(Cost
$19,362,989)
..................................
19,362,989
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Growth
Opportunities
Fund
(continued)
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
9
See
Abbreviations
on
page
231
.
Short
Term
Investments
(continued)
a
a
Country
Shares
a
Value
a
a
a
a
a
a
Investments
from
Cash
Collateral
Received
for
Loaned
Securities
1.0%
Money
Market
Funds
1.0%
f,g
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
1.445%
....
United
States
42,827,185
$
42,827,185
Total
Investments
from
Cash
Collateral
Received
for
Loaned
Securities
(Cost
$42,827,185)
...........................................................
42,827,185
Total
Short
Term
Investments
(Cost
$62,190,174
)
................................
62,190,174
a
Total
Investments
(Cost
$2,034,837,780)
101.0%
................................
$4,132,728,121
Other
Assets,
less
Liabilities
(1.0)%
...........................................
(41,335,446)
Net
Assets
100.0%
...........................................................
$4,091,392,675
*
The
principal
amount
is
stated
in
U.S.
dollars
unless
otherwise
indicated.
†
Rounds
to
less
than
0.1%
of
net
assets.
a
Fair
valued
using
significant
unobservable
inputs.
See
Note
6
regarding
fair
value
measurements.
b
Non-income
producing.
c
See
Note
3
regarding
restricted
securities.
d
A
portion
or
all
of
the
security
is
on
loan
at
July
31,
2022.
e
See
Note
4
regarding
holdings
of
5%
voting
securities.
f
See
Note
5
regarding
investments
in
affiliated
management
investment
companies.
g
The
rate
shown
is
the
annualized
seven-day
effective
yield
at
period
end.
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited),
July
31,
2022
Franklin
Natural
Resources
Fund
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
10
a
a
Country
Shares
a
Value
a
Common
Stocks
98.9%
Agricultural
Products
1.1%
Bunge
Ltd.
..........................................
United
States
28,300
$
2,612,939
a
Darling
Ingredients,
Inc.
................................
United
States
28,300
1,960,624
4,573,563
Construction
Machinery
&
Heavy
Trucks
0.4%
a
Proterra
,
Inc.
.........................................
United
States
345,800
1,863,862
a
Construction
Materials
0.7%
Martin
Marietta
Materials,
Inc.
............................
United
States
7,700
2,711,016
Copper
4.6%
Antofagasta
plc
.......................................
Chile
215,800
3,070,551
a
Capstone
Copper
Corp.
................................
Canada
958,500
2,163,268
a
ERO
Copper
Corp.
....................................
Brazil
277,500
2,745,744
First
Quantum
Minerals
Ltd.
.............................
Zambia
53,200
972,183
Freeport-McMoRan,
Inc.
................................
United
States
257,400
8,120,970
a
Imperial
Metals
Corp.
..................................
Canada
122,760
265,557
Lundin
Mining
Corp.
...................................
Chile
319,000
1,798,657
19,136,930
Diversified
Chemicals
0.9%
Huntsman
Corp.
......................................
United
States
124,500
3,605,520
Diversified
Metals
&
Mining
4.5%
a
29Metals
Ltd.
........................................
Australia
1,174,800
1,248,325
a
Aclara
Resources,
Inc.
.................................
United
Kingdom
489,200
106,971
a,b
Aclara
Resources,
Inc.,
144A
............................
United
Kingdom
510,754
111,684
Anglo
American
plc
....................................
South
Africa
81,600
2,949,422
BHP
Group
Ltd.,
ADR
..................................
Australia
115,900
6,379,136
a
Glencore
plc
.........................................
Australia
364,400
2,065,310
Rio
Tinto
plc,
ADR
.....................................
Australia
54,000
3,295,620
Teck
Resources
Ltd.,
B
.................................
Canada
68,700
2,019,093
18,175,561
Electrical
Components
&
Equipment
1.8%
a
Fluence
Energy,
Inc.
...................................
United
States
80,700
1,108,818
a
FREYR
Battery
SA
....................................
Norway
257,200
2,566,856
a
SES
AI
Corp.
........................................
United
States
243,300
1,121,613
a
Shoals
Technologies
Group,
Inc.,
A
........................
United
States
103,600
2,448,068
7,245,355
Environmental
&
Facilities
Services
0.4%
a
Li-Cycle
Holdings
Corp.
.................................
Canada
248,500
1,786,715
a
Fertilizers
&
Agricultural
Chemicals
1.9%
Corteva
,
Inc.
.........................................
United
States
72,400
4,166,620
Nutrien
Ltd.
..........................................
Canada
45,800
3,923,228
8,089,848
Gold
5.8%
Agnico
Eagle
Mines
Ltd.
................................
Canada
106,600
4,583,675
Alamos
Gold,
Inc.,
A
...................................
Canada
402,900
3,184,184
Barrick
Gold
Corp.
....................................
Canada
338,691
5,330,996
Newmont
Corp.
.......................................
United
States
148,600
6,728,608
SSR
Mining,
Inc.
......................................
Canada
249,600
4,108,416
23,935,879
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Natural
Resources
Fund
(continued)
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
11
a
a
Country
Shares
a
Value
a
Common
Stocks
(continued)
Heavy
Electrical
Equipment
0.5%
a
TPI
Composites,
Inc.
...................................
United
States
120,400
$
1,982,988
a
Industrial
Gases
3.0%
Air
Products
and
Chemicals,
Inc.
..........................
United
States
24,500
6,081,635
Linde
plc
............................................
United
Kingdom
20,000
6,040,000
12,121,635
Industrial
Machinery
1.0%
Xylem,
Inc.
..........................................
United
States
43,800
4,030,914
Integrated
Oil
&
Gas
18.6%
Chevron
Corp.
.......................................
United
States
121,700
19,932,026
Exxon
Mobil
Corp.
.....................................
United
States
193,800
18,785,034
Occidental
Petroleum
Corp.
.............................
United
States
95,300
6,265,975
Shell
plc,
ADR
........................................
Netherlands
257,500
13,745,350
Suncor
Energy,
Inc.
....................................
Canada
288,800
9,801,834
TotalEnergies
SE,
ADR
.................................
France
151,110
7,715,676
76,245,895
Marine
0.3%
Eneti
,
Inc.
...........................................
United
States
155,500
998,310
Metal
&
Glass
Containers
1.3%
Ball
Corp.
...........................................
United
States
43,900
3,223,138
Crown
Holdings,
Inc.
...................................
United
States
20,000
2,033,600
5,256,738
Oil
&
Gas
Drilling
1.6%
Helmerich
&
Payne,
Inc.
................................
United
States
67,100
3,106,730
Patterson-UTI
Energy,
Inc.
..............................
United
States
188,600
3,121,330
6,228,060
Oil
&
Gas
Equipment
&
Services
12.1%
Baker
Hughes
Co.
.....................................
United
States
190,300
4,888,807
Cactus,
Inc.,
A
........................................
United
States
44,300
1,842,437
ChampionX
Corp.
.....................................
United
States
171,800
3,588,902
Halliburton
Co.
.......................................
United
States
177,200
5,191,960
a
Liberty
Energy,
Inc.,
A
..................................
United
States
253,200
3,595,440
a
NexTier
Oilfield
Solutions,
Inc.
............................
United
States
310,100
3,091,697
a
Nine
Energy
Service,
Inc.
...............................
United
States
332,092
909,932
a
Oceaneering
International,
Inc.
...........................
United
States
214,000
2,272,680
a
Oil
States
International,
Inc.
.............................
United
States
319,400
1,628,940
a
Ranger
Energy
Services,
Inc.
............................
United
States
335,595
3,084,118
Schlumberger
NV
.....................................
United
States
292,400
10,827,572
Schoeller-Bleckmann
Oilfield
Equipment
AG
.................
Austria
17,600
1,006,403
a
Select
Energy
Services,
Inc.,
A
...........................
United
States
298,000
2,226,060
c
Technip
Energies
NV
...................................
France
40,899
483,052
a
TechnipFMC
plc
......................................
United
Kingdom
665,700
5,385,513
50,023,513
Oil
&
Gas
Exploration
&
Production
19.3%
Aker
BP
ASA
.........................................
Norway
81,800
2,841,870
Canadian
Natural
Resources
Ltd.
.........................
Canada
200,900
11,093,822
ConocoPhillips
.......................................
United
States
197,900
19,281,397
Coterra
Energy,
Inc.
...................................
United
States
222,300
6,800,157
Devon
Energy
Corp.
...................................
United
States
100,500
6,316,425
EOG
Resources,
Inc.
..................................
United
States
123,800
13,769,036
EQT
Corp.
..........................................
United
States
54,700
2,408,441
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Natural
Resources
Fund
(continued)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
12
a
a
Country
Shares
a
Value
a
Common
Stocks
(continued)
Oil
&
Gas
Exploration
&
Production
(continued)
Hess
Corp.
..........................................
United
States
60,500
$
6,804,435
Pioneer
Natural
Resources
Co.
...........................
United
States
41,601
9,857,357
79,172,940
Oil
&
Gas
Refining
&
Marketing
6.4%
Marathon
Petroleum
Corp.
..............................
United
States
101,200
9,275,992
Phillips
66
...........................................
United
States
90,600
8,063,400
Valero
Energy
Corp.
...................................
United
States
79,500
8,806,215
26,145,607
Oil
&
Gas
Storage
&
Transportation
8.6%
Enbridge,
Inc.
........................................
Canada
71,000
3,190,030
Kinder
Morgan,
Inc.
....................................
United
States
449,900
8,093,701
New
Fortress
Energy,
Inc.
...............................
United
States
45,800
2,242,826
Targa
Resources
Corp.
.................................
United
States
65,600
4,533,616
TC
Energy
Corp.
......................................
Canada
172,100
9,176,372
Williams
Cos.,
Inc.
(The)
................................
United
States
247,200
8,427,048
35,663,593
Paper
Packaging
0.4%
Packaging
Corp.
of
America
.............................
United
States
12,800
1,799,808
Semiconductor
Equipment
0.6%
a
SolarEdge
Technologies,
Inc.
............................
United
States
7,100
2,556,923
a
Specialty
Chemicals
1.4%
Albemarle
Corp.
......................................
United
States
9,000
2,198,790
Ecolab,
Inc.
..........................................
United
States
14,700
2,427,999
Neo
Performance
Materials,
Inc.
..........................
Canada
23,600
268,161
a,b
Neo
Performance
Materials,
Inc.,
144A
.....................
Canada
85,000
965,833
5,860,783
Steel
0.7%
Vale
SA,
ADR
........................................
Brazil
207,400
2,791,604
Trading
Companies
&
Distributors
1.0%
a
Univar
Solutions,
Inc.
..................................
United
States
151,400
4,093,856
a
Total
Common
Stocks
(Cost
$301,242,067)
.....................................
406,097,416
Warrants
a
a
a
a
a
Warrants
0.2%
Integrated
Oil
&
Gas
0.2%
a
Occidental
Petroleum
Corp.,
8/03/27
.......................
United
States
17,900
786,705
Total
Warrants
(Cost
$88,605)
.................................................
786,705
Principal
Amount
*
Convertible
Bonds
0.3%
Oil
&
Gas
Equipment
&
Services
0.3%
b
Oil
States
International,
Inc.,
Senior
Note,
144A,
4.75%,
4/01/26
..
United
States
1,200,000
1,066,500
Total
Convertible
Bonds
(Cost
$1,200,000)
.....................................
1,066,500
Total
Long
Term
Investments
(Cost
$302,530,672)
...............................
407,950,621
a
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Natural
Resources
Fund
(continued)
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
13
See
Abbreviations
on
page
231
.
Short
Term
Investments
0.6%
a
a
Country
Shares
a
Value
a
a
a
a
a
a
Money
Market
Funds
0.5%
d,e
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
1.445%
....
United
States
2,198,864
$
2,198,864
Total
Money
Market
Funds
(Cost
$2,198,864)
...................................
2,198,864
Investments
from
Cash
Collateral
Received
for
Loaned
Securities
0.1%
Money
Market
Funds
0.1%
d,e
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
1.445%
....
United
States
346,581
346,581
Total
Investments
from
Cash
Collateral
Received
for
Loaned
Securities
(Cost
$346,581)
...................................................................
346,581
Total
Short
Term
Investments
(Cost
$2,545,445
)
.................................
2,545,445
a
Total
Investments
(Cost
$305,076,117)
100.0%
..................................
$410,496,066
Other
Assets,
less
Liabilities
(0.0)%
†
...........................................
(31,981)
Net
Assets
100.0%
...........................................................
$410,464,085
*
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
Security
was
purchased
pursuant
to
Rule
144A
or
Regulation
S
under
the
Securities
Act
of
1933.
144A
securities
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.
Regulation
S
securities
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
July
31,
2022,
the
aggregate
value
of
these
securities
was
$2,144,017,
representing
0.5%
of
net
assets.
c
A
portion
or
all
of
the
security
is
on
loan
at
July
31,
2022.
d
See
Note
5
regarding
investments
in
affiliated
management
investment
companies.
e
The
rate
shown
is
the
annualized
seven-day
effective
yield
at
period
end.
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited),
July
31,
2022
Franklin
Small
Cap
Growth
Fund
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
14
a
a
Country
Shares
a
Value
a
a
a
a
a
a
Common
Stocks
95.2%
Aerospace
&
Defense
4.7%
a
AAR
Corp.
..........................................
United
States
805,100
$
35,851,103
a
Axon
Enterprise,
Inc.
...................................
United
States
199,200
21,949,848
BWX
Technologies,
Inc.
................................
United
States
800,600
45,378,008
a
Kratos
Defense
&
Security
Solutions,
Inc.
...................
United
States
1,735,164
24,969,010
128,147,969
Airlines
1.7%
a
Allegiant
Travel
Co.
....................................
United
States
337,748
38,945,722
a
Wheels
Up
Experience,
Inc.
.............................
United
States
3,229,119
7,233,226
46,178,948
Banks
2.6%
Pinnacle
Financial
Partners,
Inc.
..........................
United
States
441,004
34,883,416
Western
Alliance
Bancorp
...............................
United
States
479,400
36,616,572
71,499,988
Biotechnology
7.6%
a
Alector
,
Inc.
..........................................
United
States
574,200
5,868,324
a
Arcutis
Biotherapeutics
,
Inc.
.............................
United
States
354,000
8,588,040
a
Ascendis
Pharma
A/S,
ADR
.............................
Denmark
214,600
18,354,738
a
Cullinan
Oncology,
Inc.
.................................
United
States
422,200
5,703,922
a
Cytokinetics,
Inc.
......................................
United
States
317,000
13,418,610
a,b
Day
One
Biopharmaceuticals,
Inc.
.........................
United
States
739,622
12,669,725
a
Dyne
Therapeutics,
Inc.
................................
United
States
623,500
6,540,515
a
Global
Blood
Therapeutics,
Inc.
...........................
United
States
360,800
11,805,376
a
Heron
Therapeutics,
Inc.
................................
United
States
1,775,508
4,935,912
a
Insmed
,
Inc.
.........................................
United
States
1,086,100
24,024,532
a
Iovance
Biotherapeutics
,
Inc.
.............................
United
States
961,900
11,206,135
a
Karuna
Therapeutics,
Inc.
...............................
United
States
107,900
14,053,975
a
Kura
Oncology,
Inc.
....................................
United
States
564,700
8,645,557
a
Mirati
Therapeutics,
Inc.
................................
United
States
212,300
13,672,120
a
PTC
Therapeutics,
Inc.
.................................
United
States
874,400
38,080,120
a
Sutro
Biopharma,
Inc.
..................................
United
States
956,549
5,595,812
a
Twist
Bioscience
Corp.
.................................
United
States
118,362
5,177,154
208,340,567
Building
Products
1.1%
a
Masonite
International
Corp.
.............................
United
States
325,400
29,621,162
Capital
Markets
3.3%
Bridge
Investment
Group
Holdings,
Inc.,
A
...................
United
States
1,393,300
23,727,899
Evercore
,
Inc.,
A
......................................
United
States
270,300
27,021,891
Houlihan
Lokey
,
Inc.
...................................
United
States
453,300
38,331,048
89,080,838
Communications
Equipment
0.9%
a
Viavi
Solutions,
Inc.
....................................
United
States
1,730,300
25,608,440
Construction
&
Engineering
2.5%
Arcosa
,
Inc.
.........................................
United
States
838,900
43,253,684
Granite
Construction,
Inc.
...............................
United
States
798,243
23,867,466
67,121,150
Diversified
Consumer
Services
0.4%
a,b
Nerdy,
Inc.
..........................................
United
States
4,362,000
11,384,820
Electronic
Equipment,
Instruments
&
Components
1.0%
Vontier
Corp.
.........................................
United
States
1,077,800
27,807,240
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Small
Cap
Growth
Fund
(continued)
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
15
a
a
Country
Shares
a
Value
a
a
a
a
a
a
Common
Stocks
(continued)
Energy
Equipment
&
Services
0.7%
a
Liberty
Energy,
Inc.,
A
..................................
United
States
1,324,800
$
18,812,160
Equity
Real
Estate
Investment
Trusts
(REITs)
2.3%
Pebblebrook
Hotel
Trust
................................
United
States
1,160,400
22,697,424
Rexford
Industrial
Realty,
Inc.
............................
United
States
634,700
41,515,727
64,213,151
Food
&
Staples
Retailing
1.6%
a
Performance
Food
Group
Co.
............................
United
States
897,900
44,634,609
Food
Products
3.2%
a
Freshpet
,
Inc.
........................................
United
States
367,100
19,617,824
a
Hostess
Brands,
Inc.
...................................
United
States
774,574
17,520,864
a
Nomad
Foods
Ltd.
....................................
United
Kingdom
930,600
17,160,264
a
Simply
Good
Foods
Co.
(The)
............................
United
States
1,002,100
32,688,502
86,987,454
Health
Care
Equipment
&
Supplies
6.5%
a
CryoPort
,
Inc.
........................................
United
States
154,600
5,751,120
a
Figs,
Inc.,
A
..........................................
United
States
1,601,700
16,929,969
a
Haemonetics
Corp.
....................................
United
States
382,100
26,552,129
a
Inari
Medical,
Inc.
.....................................
United
States
182,400
14,150,592
a
Inspire
Medical
Systems,
Inc.
............................
United
States
229,144
47,888,804
a
Integer
Holdings
Corp.
.................................
United
States
521,400
36,440,646
a,b
Neogen
Corp.
........................................
United
States
330,932
7,654,457
a
Nevro
Corp.
.........................................
United
States
282,700
12,255,045
a
Pulmonx
Corp.
.......................................
United
States
577,716
9,844,281
177,467,043
Health
Care
Providers
&
Services
3.7%
a
1Life
Healthcare,
Inc.
..................................
United
States
1,193,600
20,219,584
a
HealthEquity
,
Inc.
.....................................
United
States
661,816
38,497,837
a
Hims
&
Hers
Health,
Inc.
................................
United
States
1,676,147
10,375,350
a
Privia
Health
Group,
Inc.
................................
United
States
887,500
32,642,250
101,735,021
Health
Care
Technology
1.9%
a
Certara
,
Inc.
.........................................
United
States
978,800
22,502,612
a
Phreesia
,
Inc.
........................................
United
States
1,268,982
29,808,387
52,310,999
Hotels,
Restaurants
&
Leisure
5.3%
a,b
Dutch
Bros,
Inc.,
A
....................................
United
States
177,300
6,646,977
a,b
Portillo's,
Inc.,
A
......................................
United
States
967,300
22,083,459
Red
Rock
Resorts,
Inc.,
A
...............................
United
States
1,047,600
41,202,108
a,b
Sweetgreen
,
Inc.,
A
....................................
United
States
792,539
12,450,788
Texas
Roadhouse,
Inc.
.................................
United
States
436,600
38,080,252
a,b
Vacasa
,
Inc.,
A
.......................................
United
States
1,805,927
4,713,470
Wingstop
,
Inc.
........................................
United
States
161,113
20,329,238
145,506,292
Household
Durables
3.1%
a
M/I
Homes,
Inc.
.......................................
United
States
824,246
37,923,559
a
Sonos
,
Inc.
..........................................
United
States
769,200
17,007,012
a
Tri
Pointe
Homes,
Inc.
..................................
United
States
1,618,400
29,972,768
84,903,339
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Small
Cap
Growth
Fund
(continued)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
16
a
a
Country
Shares
a
Value
a
a
a
a
a
a
Common
Stocks
(continued)
Internet
&
Direct
Marketing
Retail
0.3%
a,b
Rent
the
Runway,
Inc.,
A
................................
United
States
2,051,458
$
9,108,474
IT
Services
5.3%
a
BigCommerce
Holdings,
Inc.,
1
...........................
United
States
1,144,200
17,906,730
a
Flywire
Corp.
........................................
United
States
1,514,310
35,525,712
a
Marqeta
,
Inc.,
A
.......................................
United
States
2,435,315
23,354,671
a,c
Paymentus
Holdings,
Inc.,
A
.............................
United
States
1,823,000
26,524,650
a
Repay
Holdings
Corp.
..................................
United
States
1,100,500
14,746,700
a
Shift4
Payments,
Inc.,
A
................................
United
States
773,000
28,160,390
146,218,853
Life
Sciences
Tools
&
Services
0.5%
a,b
Codex
DNA,
Inc.
......................................
United
States
446,152
852,150
a
NeoGenomics
,
Inc.
....................................
United
States
1,254,900
12,699,588
13,551,738
Machinery
3.9%
Kennametal,
Inc.
......................................
United
States
1,183,600
31,779,660
a
Proterra
,
Inc.
.........................................
United
States
4,668,643
25,163,986
a
RBC
Bearings,
Inc.
....................................
United
States
215,800
50,928,800
107,872,446
Oil,
Gas
&
Consumable
Fuels
0.7%
Matador
Resources
Co.
................................
United
States
353,100
20,402,118
Personal
Products
1.0%
a
BellRing
Brands,
Inc.
...................................
United
States
1,185,000
28,605,900
Pharmaceuticals
2.3%
a,c
EyePoint
Pharmaceuticals,
Inc.
...........................
United
States
1,725,700
15,755,641
a
Intra-Cellular
Therapies,
Inc.
.............................
United
States
335,200
18,141,024
a
Pliant
Therapeutics,
Inc.
................................
United
States
302,100
5,247,477
a
Reata
Pharmaceuticals,
Inc.,
A
...........................
United
States
237,074
7,273,430
a
Revance
Therapeutics,
Inc.
..............................
United
States
1,111,592
17,251,908
63,669,480
Professional
Services
0.9%
a,b
Legalzoom.com,
Inc.
...................................
United
States
2,335,680
24,477,926
Semiconductors
&
Semiconductor
Equipment
6.7%
a
Lattice
Semiconductor
Corp.
.............................
United
States
768,300
47,250,450
a
Onto
Innovation,
Inc.
...................................
United
States
545,309
45,396,974
a
Semtech
Corp.
.......................................
United
States
589,400
36,737,302
a
Silicon
Laboratories,
Inc.
................................
United
States
95,200
14,040,096
a
SiTime
Corp.
.........................................
United
States
210,012
39,058,032
182,482,854
Software
9.9%
a
Alkami
Technology,
Inc.
.................................
United
States
480,750
6,692,040
a
Alteryx
,
Inc.,
A
........................................
United
States
364,200
17,638,206
a
Avalara,
Inc.
.........................................
United
States
311,946
27,270,320
a,b
AvePoint
,
Inc.
........................................
United
States
2,100,700
10,566,521
a
BTRS
Holdings,
Inc.
...................................
United
States
2,000,000
12,900,000
a
BTRS
Holdings,
Inc.,
1
.................................
United
States
103,900
670,155
a
CS
Disco,
Inc.
........................................
United
States
1,318,313
32,351,401
a
Duck
Creek
Technologies,
Inc.
...........................
United
States
1,114,269
15,376,912
a
Envestnet
,
Inc.
.......................................
United
States
319,022
18,589,412
a
Freshworks
,
Inc.,
A
....................................
United
States
1,601,200
20,991,732
a
LiveRamp
Holdings,
Inc.
................................
United
States
988,200
26,296,002
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Small
Cap
Growth
Fund
(continued)
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
17
a
a
Country
Shares
a
Value
a
a
a
a
a
a
Common
Stocks
(continued)
Software
(continued)
a
Monday.com
Ltd.
......................................
United
States
278,500
$
28,610,305
a
Paycor
HCM,
Inc.
.....................................
United
States
1,596,400
42,607,916
a
Q2
Holdings,
Inc.
.....................................
United
States
274,400
12,046,160
272,607,082
Specialty
Retail
4.9%
American
Eagle
Outfitters,
Inc.
...........................
United
States
2,086,500
25,121,460
a
Boot
Barn
Holdings,
Inc.
................................
United
States
450,160
28,044,968
a
Five
Below,
Inc.
.......................................
United
States
231,800
29,454,826
Lithia
Motors,
Inc.,
A
...................................
United
States
44,726
11,864,913
a,b
MYT
Netherlands
Parent
BV,
ADR
.........................
Germany
1,045,400
13,788,826
a
Petco
Health
&
Wellness
Co.,
Inc.
.........................
United
States
1,918,800
26,709,696
134,984,689
Textiles,
Apparel
&
Luxury
Goods
1.5%
a
Allbirds
,
Inc.,
A
.......................................
United
States
2,779,605
14,287,170
Steven
Madden
Ltd.
...................................
United
States
866,750
27,475,975
41,763,145
Trading
Companies
&
Distributors
3.2%
a
Beacon
Roofing
Supply,
Inc.
.............................
United
States
701,600
42,110,032
a
Univar
Solutions,
Inc.
..................................
United
States
1,717,232
46,433,953
88,543,985
Total
Common
Stocks
(Cost
$2,527,637,613)
....................................
2,615,649,880
Convertible
Preferred
Stocks
1.8%
Diversified
Consumer
Services
0.4%
a,d,e
Newsela
,
Inc.,
D
......................................
United
States
709,046
11,600,232
a
Software
1.1%
a,d,e
Benchling
,
Inc.,
F
.....................................
United
States
382,306
8,024,395
a,d,e
Checkr
,
Inc.,
E
.......................................
United
States
1,388,889
21,010,461
29,034,856
Specialty
Retail
0.3%
a,d,e
1661,
Inc.,
F
.........................................
United
States
3,436,485
8,862,698
a
Total
Convertible
Preferred
Stocks
(Cost
$72,500,003)
...........................
49,497,786
Preferred
Stocks
0.9%
Auto
Components
0.3%
a,d,e
Tula
eTechnology
,
Inc.
..................................
United
States
361,111
—
a,d,e
Tula
eTechnology
,
Inc.,
E
...............................
United
States
3,611,111
9,526,912
9,526,912
Commercial
Services
&
Supplies
0.4%
a,c,d,e
Optoro
,
Inc.,
E
.......................................
United
States
554,878
9,708,648
a
Software
0.2%
a,c,d,e
ClearMotion
,
Inc.,
D
...................................
United
States
3,698,772
210,926
a,d,e
Smule
,
Inc.,
144A,
G
...................................
United
States
1,542,673
3,650,142
a,d,e
Smule
,
Inc.,
144A,
H
...................................
United
States
352,675
986,024
4,847,092
Total
Preferred
Stocks
(Cost
$41,519,988)
......................................
24,082,652
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Small
Cap
Growth
Fund
(continued)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
18
See
Abbreviations
on
page
231
.
a
a
Country
Warrants
a
Value
a
a
a
a
a
a
Warrants
0.0%
Software
0.0%
a,c,d,e
ClearMotion
,
Inc.,
2/01/49
...............................
United
States
312,500
$
—
Total
Warrants
(Cost
$–)
......................................................
—
Principal
Amount
*
Corporate
Bonds
0.0%
†
c,d,e
ClearMotion
,
Inc.
,
7
%
,
12/21/22
...........................
United
States
625,000
850,000
Total
Corporate
Bonds
(Cost
$625,000)
........................................
850,000
Shares
a
Escrows
and
Litigation
Trusts
0.0%
a,d
Proterra
,
Inc.,
Escrow
Account
...........................
United
States
344,921
—
a,d
Wheels
Up
Experience,
Inc.,
Escrow
Account
................
United
States
88,098
—
Total
Escrows
and
Litigation
Trusts
(Cost
$–)
...................................
—
Total
Long
Term
Investments
(Cost
$2,642,282,604)
.............................
2,690,080,318
a
Short
Term
Investments
4.3%
a
a
Country
Shares
a
Value
a
a
a
Money
Market
Funds
2.0%
f,g
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
1.445%
....
United
States
54,153,904
54,153,904
Total
Money
Market
Funds
(Cost
$54,153,904)
..................................
54,153,904
a
a
a
Investments
from
Cash
Collateral
Received
for
Loaned
Securities
2.3%
Money
Market
Funds
2.3%
f,g
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
1.445%
....
United
States
63,533,752
63,533,752
Total
Investments
from
Cash
Collateral
Received
for
Loaned
Securities
(Cost
$63,533,752)
...........................................................
63,533,752
Total
Short
Term
Investments
(Cost
$117,687,656
)
...............................
117,687,656
a
Total
Investments
(Cost
$2,759,970,260)
102.2%
................................
$2,807,767,974
Other
Assets,
less
Liabilities
(2.2)%
...........................................
(61,338,021)
Net
Assets
100.0%
...........................................................
$2,746,429,953
*
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
July
31,
2022.
c
See
Note
4
regarding
holdings
of
5%
voting
securities.
d
Fair
valued
using
significant
unobservable
inputs.
See
Note
6
regarding
fair
value
measurements.
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Small
Cap
Growth
Fund
(continued)
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
19
e
See
Note
3
regarding
restricted
securities.
f
See
Note
5
regarding
investments
in
affiliated
management
investment
companies.
g
The
rate
shown
is
the
annualized
seven-day
effective
yield
at
period
end.
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited),
July
31,
2022
Franklin
Small-Mid
Cap
Growth
Fund
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
20
a
a
Country
Shares
a
Value
a
a
a
a
a
a
Common
Stocks
94.5%
Aerospace
&
Defense
1.6%
a
TransDigm
Group,
Inc.
.................................
United
States
103,900
$
64,661,126
Airlines
1.1%
a
Delta
Air
Lines,
Inc.
....................................
United
States
1,370,700
43,588,260
Banks
0.9%
a
SVB
Financial
Group
...................................
United
States
88,300
35,633,465
Biotechnology
2.8%
a
Alnylam
Pharmaceuticals,
Inc.
............................
United
States
135,600
19,260,624
a
Horizon
Therapeutics
plc
................................
United
States
384,200
31,877,074
a
Neurocrine
Biosciences,
Inc.
.............................
United
States
141,000
13,272,330
a
PTC
Therapeutics,
Inc.
.................................
United
States
462,700
20,150,585
a
Seagen
,
Inc.
.........................................
United
States
152,700
27,482,946
112,043,559
Building
Products
1.1%
Trane
Technologies
plc
.................................
United
States
309,900
45,552,201
Capital
Markets
4.4%
Ares
Management
Corp.
................................
United
States
629,400
45,096,510
MarketAxess
Holdings,
Inc.
..............................
United
States
119,800
32,439,444
MSCI,
Inc.
...........................................
United
States
153,100
73,693,154
Tradeweb
Markets,
Inc.,
A
...............................
United
States
338,700
23,885,124
175,114,232
Commercial
Services
&
Supplies
1.2%
Republic
Services,
Inc.
.................................
United
States
344,800
47,809,968
Communications
Equipment
1.4%
a
Arista
Networks,
Inc.
...................................
United
States
476,300
55,550,869
Containers
&
Packaging
2.0%
Avery
Dennison
Corp.
..................................
United
States
266,300
50,719,498
Ball
Corp.
...........................................
United
States
383,300
28,141,886
78,861,384
Electrical
Equipment
2.8%
a
Generac
Holdings,
Inc.
.................................
United
States
198,200
53,177,060
Rockwell
Automation,
Inc.
...............................
United
States
224,000
57,182,720
110,359,780
Electronic
Equipment,
Instruments
&
Components
3.1%
Cognex
Corp.
........................................
United
States
598,400
30,506,432
a
Keysight
Technologies,
Inc.
..............................
United
States
279,700
45,479,220
a
Zebra
Technologies
Corp.,
A
.............................
United
States
130,700
46,750,083
122,735,735
Equity
Real
Estate
Investment
Trusts
(REITs)
2.7%
Equity
LifeStyle
Properties,
Inc.
...........................
United
States
461,100
33,900,072
SBA
Communications
Corp.
.............................
United
States
135,600
45,533,124
Terreno
Realty
Corp.
...................................
United
States
449,800
28,179,970
107,613,166
Food
Products
0.3%
a
Freshpet
,
Inc.
........................................
United
States
228,000
12,184,320
Health
Care
Equipment
&
Supplies
5.0%
a
Dexcom
,
Inc.
.........................................
United
States
651,356
53,463,301
a
IDEXX
Laboratories,
Inc.
................................
United
States
182,000
72,650,760
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Small-Mid
Cap
Growth
Fund
(continued)
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
21
a
a
Country
Shares
a
Value
a
a
a
a
a
a
Common
Stocks
(continued)
Health
Care
Equipment
&
Supplies
(continued)
a
Inari
Medical,
Inc.
.....................................
United
States
317,300
$
24,616,134
a
Insulet
Corp.
.........................................
United
States
195,900
48,544,020
199,274,215
Health
Care
Providers
&
Services
1.4%
a
Guardant
Health,
Inc.
..................................
United
States
688,900
34,562,113
a
HealthEquity
,
Inc.
.....................................
United
States
365,700
21,272,769
55,834,882
Health
Care
Technology
2.1%
a
Certara
,
Inc.
.........................................
United
States
584,800
13,444,552
a
Veeva
Systems,
Inc.,
A
.................................
United
States
316,000
70,651,280
84,095,832
Hotels,
Restaurants
&
Leisure
6.1%
a
Chipotle
Mexican
Grill,
Inc.
..............................
United
States
59,100
92,445,402
Darden
Restaurants,
Inc.
...............................
United
States
356,800
44,418,032
a
Expedia
Group,
Inc.
...................................
United
States
395,700
41,963,985
Vail
Resorts,
Inc.
......................................
United
States
162,400
38,509,912
a
Wynn
Resorts
Ltd.
....................................
United
States
406,000
25,772,880
243,110,211
Household
Durables
1.2%
a
NVR,
Inc.
...........................................
United
States
10,600
46,566,860
Interactive
Media
&
Services
1.7%
a
Match
Group,
Inc.
.....................................
United
States
604,659
44,327,551
a
Pinterest,
Inc.,
A
......................................
United
States
1,173,100
22,851,988
67,179,539
IT
Services
5.2%
a,b
Adyen
NV,
144A,
Reg
S
................................
Netherlands
14,000
25,184,062
a
Cloudflare
,
Inc.,
A
.....................................
United
States
526,600
26,498,512
a
Marqeta
,
Inc.,
A
.......................................
United
States
1,159,936
11,123,786
a
MongoDB,
Inc.
.......................................
United
States
128,100
40,027,407
a
Okta
,
Inc.
...........................................
United
States
349,200
34,378,740
Paychex,
Inc.
........................................
United
States
270,100
34,648,428
a
Shopify,
Inc.,
A
.......................................
Canada
242,800
8,456,724
a
Snowflake,
Inc.,
A
.....................................
United
States
183,500
27,508,485
207,826,144
Leisure
Products
1.2%
a,c,d
Fanatics
Holdings,
Inc.
.................................
United
States
793,714
50,100,603
Life
Sciences
Tools
&
Services
6.0%
a
10X
Genomics,
Inc.,
A
..................................
United
States
459,800
18,460,970
a
Avantor
,
Inc.
.........................................
United
States
1,546,000
44,864,920
Bio-
Techne
Corp.
.....................................
United
States
149,800
57,714,944
a
Mettler
-Toledo
International,
Inc.
..........................
United
States
50,600
68,296,338
West
Pharmaceutical
Services,
Inc.
........................
United
States
152,500
52,392,900
241,730,072
Machinery
1.5%
IDEX
Corp.
..........................................
United
States
173,700
36,259,875
a
Proterra
,
Inc.
.........................................
United
States
2,385,555
12,858,141
Stanley
Black
&
Decker,
Inc.
.............................
United
States
131,900
12,837,827
61,955,843
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Small-Mid
Cap
Growth
Fund
(continued)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
22
a
a
Country
Shares
a
Value
a
a
a
a
a
a
Common
Stocks
(continued)
Oil,
Gas
&
Consumable
Fuels
0.8%
Coterra
Energy,
Inc.
...................................
United
States
787,300
$
24,083,507
Hess
Corp.
..........................................
United
States
88,600
9,964,842
34,048,349
Personal
Products
1.2%
a
BellRing
Brands,
Inc.
...................................
United
States
1,228,600
29,658,404
a
Olaplex
Holdings,
Inc.
..................................
United
States
1,080,500
18,584,600
48,243,004
Pharmaceuticals
1.5%
a
Catalent
,
Inc.
........................................
United
States
291,400
32,957,340
a
Jazz
Pharmaceuticals
plc
...............................
United
States
169,800
26,498,988
59,456,328
Professional
Services
3.4%
a
CoStar
Group,
Inc.
....................................
United
States
1,220,400
88,588,836
TransUnion
..........................................
United
States
593,700
47,038,851
135,627,687
Road
&
Rail
2.5%
a
Lyft,
Inc.,
A
..........................................
United
States
1,740,500
24,123,330
Old
Dominion
Freight
Line,
Inc.
...........................
United
States
253,750
77,015,663
101,138,993
Semiconductors
&
Semiconductor
Equipment
5.7%
Entegris
,
Inc.
.........................................
United
States
429,500
47,202,050
a
Lattice
Semiconductor
Corp.
.............................
United
States
737,014
45,326,361
Monolithic
Power
Systems,
Inc.
...........................
United
States
126,100
58,601,192
a
Semtech
Corp.
.......................................
United
States
475,563
29,641,842
a
SiTime
Corp.
.........................................
United
States
252,614
46,981,152
227,752,597
Software
14.4%
a
Alkami
Technology,
Inc.
.................................
United
States
980,000
13,641,600
a
ANSYS,
Inc.
.........................................
United
States
208,300
58,113,617
a
Arteris
,
Inc.
..........................................
United
States
990,700
7,985,042
a
Atlassian
Corp.
plc,
A
..................................
United
States
122,800
25,704,496
a
Avalara,
Inc.
.........................................
United
States
497,500
43,491,450
a
Bill.com
Holdings,
Inc.
..................................
United
States
271,133
36,624,645
a
Crowdstrike
Holdings,
Inc.,
A
.............................
United
States
372,700
68,427,720
a
Duck
Creek
Technologies,
Inc.
...........................
United
States
1,003,616
13,849,901
a
Monday.com
Ltd.
......................................
United
States
218,800
22,477,324
a
Palo
Alto
Networks,
Inc.
................................
United
States
140,200
69,973,820
a
Paylocity
Holding
Corp.
.................................
United
States
240,600
49,546,758
a
Synopsys,
Inc.
.......................................
United
States
350,300
128,735,250
a
Zscaler
,
Inc.
.........................................
United
States
244,600
37,927,676
576,499,299
Specialty
Retail
4.1%
a
AutoZone,
Inc.
.......................................
United
States
10,500
22,442,595
a
Burlington
Stores,
Inc.
..................................
United
States
224,600
31,697,798
a
Five
Below,
Inc.
.......................................
United
States
262,400
33,343,168
a
Petco
Health
&
Wellness
Co.,
Inc.
.........................
United
States
1,264,100
17,596,272
Tractor
Supply
Co.
....................................
United
States
317,000
60,699,160
165,778,993
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Small-Mid
Cap
Growth
Fund
(continued)
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
23
a
a
Country
Shares
a
Value
a
a
a
a
a
a
Common
Stocks
(continued)
Textiles,
Apparel
&
Luxury
Goods
2.3%
Levi
Strauss
&
Co.,
A
..................................
United
States
1,105,500
$
20,916,060
a
Lululemon
Athletica
,
Inc.
................................
United
States
226,600
70,361,566
91,277,626
Trading
Companies
&
Distributors
1.8%
Fastenal
Co.
.........................................
United
States
1,372,900
70,512,144
Total
Common
Stocks
(Cost
$3,185,126,366)
....................................
3,779,717,286
Convertible
Preferred
Stocks
1.1%
Diversified
Consumer
Services
0.2%
a,c,d
Newsela
,
Inc.,
D
......................................
United
States
423,782
6,933,217
a
Semiconductors
&
Semiconductor
Equipment
0.0%
†
a,c,d,e
Phononic
Devices,
Inc.
.................................
United
States
513,050
1,553,895
a
Software
0.9%
a,c,d
Benchling
,
Inc.,
F
.....................................
United
States
347,106
7,285,566
a,c,d
Blaize
,
Inc.,
D
........................................
United
States
1,948,384
9,683,739
a,c,d
Databricks
,
Inc.,
G
....................................
United
States
75,943
9,277,103
a,c,d
OneTrust
LLC,
C
......................................
United
States
767,526
9,345,151
35,591,559
Total
Convertible
Preferred
Stocks
(Cost
$69,181,596)
...........................
44,078,671
Preferred
Stocks
0.2%
Semiconductors
&
Semiconductor
Equipment
0.2%
a,c,d,e
Phononic
Devices,
Inc.,
F
...............................
United
States
2,970,061
6,097,811
a
Total
Preferred
Stocks
(Cost
$7,499,998)
.......................................
6,097,811
Warrants
Warrants
0.0%
†
Software
0.0%
†
a,c,d
Blaize
,
Inc.,
D,
2/28/24
.................................
United
States
260,815
26,609
Total
Warrants
(Cost
$–)
......................................................
26,609
Principal
Amount
*
Corporate
Bonds
0.1%
Software
0.1%
c,d
Blaize
,
Inc.
,
D
,
10
%
,
8/24/23
.............................
United
States
4,725,000
4,725,000
Total
Corporate
Bonds
(Cost
$4,725,000)
.......................................
4,725,000
Senior
Floating
Rate
Interests
0.0%
†
Semiconductors
&
Semiconductor
Equipment
0.0%
†
c,d,e,f,g
Phononic
,
Inc.
,
Advance
Term
Loan,
B,
PIK,
12%,
(3-month
USD
LIBOR),
7/31/26
United
States
132,793
117,359
Advance
Term
Loan,
D,
PIK,
12%,
(3-month
USD
LIBOR),
12/01/25
..........................................
United
States
317,070
278,253
Term
Loan,
A,
PIK,
12%,
(3-month
USD
LIBOR),
1/17/24
......
United
States
645,707
590,799
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Small-Mid
Cap
Growth
Fund
(continued)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
24
See
Abbreviations
on
page
231
.
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Senior
Floating
Rate
Interests
(continued)
Semiconductors
&
Semiconductor
Equipment
(continued)
c,d,e,f,g
Phononic,
Inc.,
(continued)
Term
Loan,
C,
PIK,
12%,
(3-month
USD
LIBOR),
8/25/24
......
United
States
128,632
$
112,238
1,098,649
a
a
a
a
a
a
Total
Senior
Floating
Rate
Interests
(Cost
$1,203,248)
...........................
1,098,649
Shares
a
Escrows
and
Litigation
Trusts
0.0%
a,c
Proterra
,
Inc.,
Escrow
Account
...........................
United
States
134,477
—
Total
Escrows
and
Litigation
Trusts
(Cost
$–)
...................................
—
Total
Long
Term
Investments
(Cost
$3,267,736,208)
.............................
3,835,744,026
a
Short
Term
Investments
4.2%
a
a
Country
Shares
a
Value
a
a
a
Money
Market
Funds
4.2%
h,i
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
1.445%
....
United
States
167,019,002
167,019,002
Total
Money
Market
Funds
(Cost
$167,019,002)
.................................
167,019,002
Total
Short
Term
Investments
(Cost
$167,019,002
)
...............................
167,019,002
a
Total
Investments
(Cost
$3,434,755,210)
100.1%
................................
$4,002,763,028
Other
Assets,
less
Liabilities
(0.1)%
...........................................
(3,565,626)
Net
Assets
100.0%
...........................................................
$3,999,197,402
*
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
Security
was
purchased
pursuant
to
Rule
144A
or
Regulation
S
under
the
Securities
Act
of
1933.
144A
securities
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.
Regulation
S
securities
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
July
31,
2022,
the
value
of
this
security
was
$25,184,062,
representing
0.6%
of
net
assets.
c
Fair
valued
using
significant
unobservable
inputs.
See
Note
6
regarding
fair
value
measurements.
d
See
Note
3
regarding
restricted
securities.
e
See
Note
4
regarding
holdings
of
5%
voting
securities.
f
Income
may
be
received
in
additional
securities
and/or
cash.
g
The
coupon
rate
shown
represents
the
rate
inclusive
of
any
caps
or
floors,
if
applicable,
in
effect
at
period
end.
h
See
Note
5
regarding
investments
in
affiliated
management
investment
companies.
i
The
rate
shown
is
the
annualized
seven-day
effective
yield
at
period
end.
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited),
July
31,
2022
Franklin
Strategic
Income
Fund
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
25
a
a
Country
Shares
a
Value
a
a
a
a
a
a
Common
Stocks
0.4%
Energy
Equipment
&
Services
0.1%
a
Weatherford
International
plc
.............................
United
States
151,545
$
3,505,236
Machinery
0.3%
a
Birch
Permian
Holdings,
Inc.
.............................
United
States
46,176
992,784
a
Birch
Permian
Holdings,
Inc.
.............................
United
States
359,948
7,693,889
8,686,673
Media
0.0%
†
a
Clear
Channel
Outdoor
Holdings,
Inc.
......................
United
States
285,564
442,624
a
iHeartMedia,
Inc.,
A
....................................
United
States
115,085
860,836
a,b
iHeartMedia,
Inc.,
B
...................................
United
States
1,941
13,502
1,316,962
Multiline
Retail
0.0%
a,b,c
K2016470219
South
Africa
Ltd.,
A
.........................
South
Africa
125,940,079
—
a,b,c
K2016470219
South
Africa
Ltd.,
B
.........................
South
Africa
12,532,821
—
—
Oil,
Gas
&
Consumable
Fuels
0.0%
†
a
Amplify
Energy
Corp.
..................................
United
States
5,288
36,223
a,b,c
Riviera
Resources,
Inc.
.................................
United
States
84,462
—
36,223
Total
Common
Stocks
(Cost
$23,885,829)
......................................
13,545,094
Management
Investment
Companies
7.8%
Capital
Markets
7.8%
d
Franklin
Floating
Rate
Income
Fund
.......................
United
States
32,192,540
246,916,782
Total
Management
Investment
Companies
(Cost
$307,842,313)
...................
246,916,782
Warrants
Warrants
0.0%
†
Oil,
Gas
&
Consumable
Fuels
0.0%
†
a,b
Battalion
Oil
Corp.,
A,
10/08/22
...........................
United
States
10,639
16
a,b
Battalion
Oil
Corp.,
B,
10/08/22
...........................
United
States
13,300
4
a,b
Battalion
Oil
Corp.,
C,
10/08/22
...........................
United
States
17,100
—
a,b
Chaparral
Energy,
Inc.,
10/01/24
..........................
United
States
9
—
a,b
Chaparral
Energy,
Inc.,
10/01/25
..........................
United
States
9
—
20
Software
0.0%
a,b,c
WorkCapital
BSD
SARL,
2/13/26
..........................
Luxembourg
6,000,000
—
Total
Warrants
(Cost
$750,000)
................................................
20
Principal
Amount
*
Convertible
Bonds
0.0%
†
Wireless
Telecommunication
Services
0.0%
†
e,f,g
Digicel
Group
Holdings
Ltd.
,
Sub.
Bond
,
144A,
PIK,
7
%
,
Perpetual
Bermuda
664,480
304,480
Total
Convertible
Bonds
(Cost
$183,250)
.......................................
304,480
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
26
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Corporate
Bonds
42.6%
Aerospace
&
Defense
0.7%
Boeing
Co.
(The)
,
Senior
Bond,
3.625%,
2/01/31
..........................
United
States
5,000,000
$
4,591,145
Senior
Note,
5.15%,
5/01/30
...........................
United
States
8,100,000
8,185,233
g
TransDigm,
Inc.
,
Senior
Secured
Note
,
144A,
6.25
%
,
3/15/26
....
United
States
10,000,000
10,065,150
22,841,528
Air
Freight
&
Logistics
0.1%
g
DAE
Funding
LLC
,
Senior
Note
,
144A,
1.55
%
,
8/01/24
.........
United
Arab
Emirates
2,300,000
2,154,752
FedEx
Corp.
,
Senior
Bond
,
4.05
%
,
2/15/48
..................
United
States
1,200,000
1,055,577
3,210,329
Airlines
0.6%
g
American
Airlines
Inc/AAdvantage
Loyalty
IP
Ltd.
,
Senior
Secured
Note
,
144A,
5.75
%
,
4/20/29
............................
United
States
5,900,000
5,657,186
g
Delta
Air
Lines,
Inc.
/
SkyMiles
IP
Ltd.
,
Senior
Secured
Note
,
144A,
4.5
%
,
10/20/25
.....................................
United
States
10,400,000
10,277,819
g
International
Consolidated
Airlines
Group
SA
,
Senior
Note
,
Reg
S,
3.75
%
,
3/25/29
.....................................
United
Kingdom
3,000,000
EUR
2,366,478
g
United
Airlines,
Inc.
,
Senior
Secured
Note
,
144A,
4.375
%
,
4/15/26
.
United
States
1,700,000
1,634,482
19,935,965
Auto
Components
1.0%
g
Allison
Transmission,
Inc.
,
Senior
Bond,
144A,
5.875%,
6/01/29
.....................
United
States
7,000,000
6,900,390
Senior
Bond,
144A,
3.75%,
1/30/31
......................
United
States
3,400,000
2,940,983
Dana,
Inc.
,
Senior
Note
,
5.625
%
,
6/15/28
...................
United
States
9,000,000
8,391,249
g
Dornoch
Debt
Merger
Sub,
Inc.
,
Senior
Note
,
144A,
6.625
%
,
10/15/29
..........................................
United
States
6,600,000
4,943,730
Goodyear
Tire
&
Rubber
Co.
(The)
,
Senior
Note
,
5
%
,
7/15/29
....
United
States
8,300,000
7,589,105
30,765,457
Automobiles
0.3%
g
Jaguar
Land
Rover
Automotive
plc
,
Senior
Note
,
144A,
5.5
%
,
7/15/29
...........................................
United
Kingdom
11,800,000
9,130,250
Banks
2.2%
Banco
Santander
SA
,
Sub.
Bond
,
2.749
%
,
12/03/30
...........
Spain
3,000,000
2,418,325
Bank
of
America
Corp.
,
Senior
Bond
,
2.676%
to
6/18/40,
FRN
thereafter
,
6/19/41
...................................
United
States
4,000,000
3,028,749
HSBC
Holdings
plc
,
Senior
Bond,
2.848%
to
6/03/30,
FRN
thereafter,
6/04/31
.....
United
Kingdom
8,300,000
7,132,143
Senior
Note,
4.18%
to
12/08/24,
FRN
thereafter,
12/09/25
.....
United
Kingdom
9,100,000
9,048,368
JPMorgan
Chase
&
Co.
,
Senior
Bond,
2.522%
to
4/21/30,
FRN
thereafter,
4/22/31
.....
United
States
9,400,000
8,255,721
Senior
Bond,
2.525%
to
11/18/40,
FRN
thereafter,
11/19/41
....
United
States
4,000,000
2,970,990
Senior
Note,
3.845%
to
6/13/24,
FRN
thereafter,
6/14/25
......
United
States
6,800,000
6,785,130
National
Bank
of
Canada
,
Senior
Note
,
3.75%
to
6/08/24,
FRN
thereafter
,
6/09/25
...................................
Canada
8,300,000
8,256,232
g
Societe
Generale
SA
,
Senior
Bond
,
144A,
2.889%
to
6/08/31,
FRN
thereafter
,
6/09/32
...................................
France
7,500,000
6,084,371
SVB
Financial
Group
,
Senior
Bond
,
3.125
%
,
6/05/30
...........
United
States
2,700,000
2,385,481
g
UniCredit
SpA
,
Senior
Bond
,
144A,
3.127%
to
6/02/31,
FRN
thereafter
,
6/03/32
...................................
Italy
5,300,000
4,229,876
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
27
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Corporate
Bonds
(continued)
Banks
(continued)
Wells
Fargo
&
Co.
,
Senior
Note
,
1.654%
to
6/01/23,
FRN
thereafter
,
6/02/24
...........................................
United
States
8,600,000
$
8,441,787
69,037,173
Beverages
0.3%
Anheuser-Busch
InBev
Worldwide,
Inc.
,
Senior
Bond
,
3.5
%
,
6/01/30
Belgium
1,300,000
1,279,148
g
Primo
Water
Holdings,
Inc.
,
Senior
Note
,
144A,
4.375
%
,
4/30/29
..
Canada
9,000,000
7,787,610
9,066,758
Biotechnology
0.2%
AbbVie,
Inc.
,
Senior
Note
,
3.2
%
,
11/21/29
...................
United
States
6,000,000
5,731,189
Building
Products
1.0%
g
Camelot
Return
Merger
Sub,
Inc.
,
Senior
Secured
Note
,
144A,
8.75
%
,
8/01/28
.....................................
United
States
5,000,000
4,675,825
Carrier
Global
Corp.
,
Senior
Note
,
2.722
%
,
2/15/30
............
United
States
16,000,000
14,388,279
g
Eco
Material
Technologies,
Inc.
,
Senior
Secured
Note
,
144A,
7.875
%
,
1/31/27
.....................................
United
States
5,000,000
4,454,081
g
Standard
Industries,
Inc.
,
Senior
Bond,
144A,
4.75%,
1/15/28
......................
United
States
4,800,000
4,572,288
Senior
Bond,
144A,
4.375%,
7/15/30
.....................
United
States
1,600,000
1,399,904
Senior
Bond,
144A,
3.375%,
1/15/31
.....................
United
States
1,400,000
1,141,455
30,631,832
Capital
Markets
1.4%
Goldman
Sachs
Group,
Inc.
(The)
,
Senior
Bond,
3.21%
to
4/21/41,
FRN
thereafter,
4/22/42
......
United
States
7,000,000
5,650,000
Senior
Note,
0.673%
to
3/07/23,
FRN
thereafter,
3/08/24
......
United
States
8,500,000
8,330,091
Senior
Note,
4.387%
to
6/14/26,
FRN
thereafter,
6/15/27
......
United
States
3,400,000
3,421,748
Morgan
Stanley
,
Senior
Bond,
3.591%
to
7/21/27,
FRN
thereafter,
7/22/28
.....
United
States
10,000,000
9,682,509
Senior
Note,
3.737%
to
4/23/23,
FRN
thereafter,
4/24/24
......
United
States
8,500,000
8,486,571
g
MSCI,
Inc.
,
Senior
Bond
,
144A,
3.25
%
,
8/15/33
...............
United
States
11,800,000
10,236,964
45,807,883
Chemicals
2.9%
g
Alpek
SAB
de
CV
,
Senior
Bond
,
144A,
4.25
%
,
9/18/29
.........
Mexico
8,000,000
7,347,840
e,g
Anagram
International,
Inc.
/
Anagram
Holdings
LLC
,
Secured
Note
,
144A,
PIK,
10
%
,
8/15/26
..............................
United
States
689,264
674,428
g
ASP
Unifrax
Holdings,
Inc.
,
Senior
Note,
144A,
7.5%,
9/30/29
.......................
United
States
2,000,000
1,584,680
Senior
Secured
Note,
144A,
5.25%,
9/30/28
...............
United
States
3,000,000
2,525,715
g
Braskem
Idesa
SAPI
,
Senior
Secured
Bond
,
144A,
6.99
%
,
2/20/32
Mexico
7,000,000
6,054,370
g
Braskem
Netherlands
Finance
BV
,
Senior
Bond
,
144A,
4.5
%
,
1/31/30
...........................................
Brazil
7,000,000
6,405,945
g
CNAC
HK
Finbridge
Co.
Ltd.
,
Senior
Note
,
Reg
S,
4.875
%
,
3/14/25
China
7,800,000
7,904,403
g
Consolidated
Energy
Finance
SA
,
Senior
Note
,
144A,
5.625
%
,
10/15/28
..........................................
Switzerland
6,700,000
5,476,413
g
CVR
Partners
LP
/
CVR
Nitrogen
Finance
Corp.
,
Senior
Secured
Note
,
144A,
6.125
%
,
6/15/28
...........................
United
States
3,000,000
2,734,125
g
Diamond
BC
BV
,
Senior
Note
,
144A,
4.625
%
,
10/01/29
.........
United
States
2,200,000
1,867,228
g
Element
Solutions,
Inc.
,
Senior
Note
,
144A,
3.875
%
,
9/01/28
.....
United
States
6,600,000
6,108,696
g
Gates
Global
LLC
/
Gates
Corp.
,
Senior
Note
,
144A,
6.25
%
,
1/15/26
United
States
7,900,000
7,731,928
g
GPD
Cos.,
Inc.
,
Senior
Secured
Note
,
144A,
10.125
%
,
4/01/26
...
United
States
5,000,000
4,626,197
e,g
Kobe
US
Midco
2,
Inc.
,
Senior
Note
,
144A,
PIK,
9.25
%
,
11/01/26
..
United
States
2,500,000
1,998,755
g
SABIC
Capital
II
BV
,
Senior
Bond
,
144A,
4.5
%
,
10/10/28
........
Saudi
Arabia
5,500,000
5,628,733
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
28
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Corporate
Bonds
(continued)
Chemicals
(continued)
Sasol
Financing
USA
LLC
,
Senior
Bond
,
6.5
%
,
9/27/28
.........
South
Africa
8,900,000
$
8,495,807
g
Syngenta
Finance
NV
,
Senior
Note
,
144A,
4.892
%
,
4/24/25
......
Switzerland
6,385,000
6,461,446
g
Vibrantz
Technologies,
Inc.
,
Senior
Note
,
144A,
9
%
,
2/15/30
.....
United
States
7,100,000
5,181,296
Westlake
Corp.
,
Senior
Bond
,
3.375
%
,
6/15/30
...............
United
States
2,500,000
2,312,519
g
Yara
International
ASA
,
Senior
Bond
,
144A,
3.148
%
,
6/04/30
.....
Brazil
1,400,000
1,224,657
92,345,181
Commercial
Services
&
Supplies
0.5%
g
APX
Group,
Inc.
,
Senior
Note
,
144A,
5.75
%
,
7/15/29
...........
United
States
6,000,000
5,019,108
g
Prime
Security
Services
Borrower
LLC
/
Prime
Finance,
Inc.
,
Senior
Secured
Note
,
144A,
3.375
%
,
8/31/27
....................
United
States
11,000,000
10,058,620
15,077,728
Communications
Equipment
0.3%
g
CommScope
Technologies
LLC
,
Senior
Bond
,
144A,
6
%
,
6/15/25
.
United
States
9,018,000
8,351,931
Construction
&
Engineering
0.1%
g
Arcosa,
Inc.
,
Senior
Note
,
144A,
4.375
%
,
4/15/29
.............
United
States
2,600,000
2,310,955
g
Rutas
2
and
7
Finance
Ltd.
,
Senior
Secured
Bond
,
144A,
Zero
Cpn.,
9/30/36
...........................................
United
States
1,160,000
691,847
3,002,802
Construction
Materials
0.1%
g
Cemex
SAB
de
CV
,
Senior
Bond
,
144A,
3.875
%
,
7/11/31
.......
Mexico
4,600,000
3,702,471
Consumer
Finance
0.3%
AerCap
Ireland
Capital
DAC
/
AerCap
Global
Aviation
Trust
,
Senior
Bond
,
3.4
%
,
10/29/33
.................................
Ireland
4,500,000
3,718,136
g
PRA
Group,
Inc.
,
Senior
Note
,
144A,
5
%
,
10/01/29
............
United
States
2,600,000
2,242,877
g
PROG
Holdings,
Inc.
,
Senior
Note
,
144A,
6
%
,
11/15/29
.........
United
States
5,800,000
4,774,160
10,735,173
Containers
&
Packaging
1.0%
g
Ardagh
Packaging
Finance
plc
/
Ardagh
Holdings
USA,
Inc.
,
Senior
Note
,
144A,
5.25
%
,
8/15/27
............................
United
States
3,700,000
2,825,628
g
Owens-Brockway
Glass
Container,
Inc.
,
Senior
Note
,
144A,
5.875
%
,
8/15/23
...........................................
United
States
6,625,000
6,633,116
g
Pactiv
Evergreen
Group
Issuer
LLC
/
Pactiv
Evergreen
Group
Issuer,
Inc.
,
Senior
Secured
Note
,
144A,
4.375
%
,
10/15/28
..........
United
States
6,100,000
5,406,277
g
Pactiv
Evergreen
Group
Issuer,
Inc./Pactiv
Evergreen
Group
Issuer
LLC
,
Senior
Secured
Note
,
144A,
4
%
,
10/15/27
.............
United
States
4,600,000
4,059,086
g
Sealed
Air
Corp.
,
Senior
Bond
,
144A,
5.125
%
,
12/01/24
........
United
States
9,000,000
9,122,715
WRKCo,
Inc.
,
Senior
Bond
,
3
%
,
6/15/33
....................
United
States
3,600,000
3,161,419
31,208,241
Diversified
Consumer
Services
0.2%
Grand
Canyon
University
,
Note
,
5.125
%
,
10/01/28
.............
United
States
7,500,000
7,068,750
Diversified
Financial
Services
0.5%
h
Cia
Securitizadora
de
Creditos
Financeiros
Vert-Fintech
,
12
,
Senior
Secured
Note
,
FRN
,
14.9
%
,
(
BZDIOVRA
+
5.75
%
),
2/14/24
....
Brazil
12,733,484
BRL
1,840,375
g
Jefferson
Capital
Holdings
LLC
,
Senior
Note
,
144A,
6
%
,
8/15/26
..
United
States
7,000,000
6,209,840
g
MPH
Acquisition
Holdings
LLC
,
Senior
Note
,
144A,
5.75
%
,
11/01/28
United
States
11,000,000
9,380,525
17,430,740
Diversified
Telecommunication
Services
1.3%
g
Altice
France
Holding
SA
,
Senior
Note
,
144A,
6
%
,
2/15/28
......
Luxembourg
9,100,000
7,050,089
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
29
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Corporate
Bonds
(continued)
Diversified
Telecommunication
Services
(continued)
g
Altice
France
SA
,
Senior
Secured
Note,
144A,
5.5%,
1/15/28
................
France
2,500,000
$
2,210,237
Senior
Secured
Note,
144A,
5.5%,
10/15/29
...............
France
3,000,000
2,583,750
AT&T,
Inc.
,
Senior
Bond
,
3.65
%
,
9/15/59
....................
United
States
4,000,000
3,121,926
CCO
Holdings
LLC
/
CCO
Holdings
Capital
Corp.
,
Senior
Bond
,
4.5
%
,
5/01/32
......................................
United
States
13,000,000
11,258,455
g
Iliad
Holding
SASU
,
Senior
Secured
Note,
144A,
6.5%,
10/15/26
...............
France
2,800,000
2,691,290
Senior
Secured
Note,
144A,
7%,
10/15/28
.................
France
5,400,000
5,195,826
g
Virgin
Media
Secured
Finance
plc
,
Senior
Secured
Bond
,
144A,
4.5
%
,
8/15/30
......................................
United
Kingdom
9,000,000
8,123,220
42,234,793
Electric
Utilities
1.7%
Duke
Energy
Corp.
,
Senior
Bond,
2.45%,
6/01/30
...........................
United
States
3,800,000
3,350,111
Senior
Bond,
3.75%,
9/01/46
...........................
United
States
1,600,000
1,348,946
Exelon
Corp.
,
Senior
Bond,
4.05%,
4/15/30
...........................
United
States
13,400,000
13,301,603
Senior
Bond,
4.45%,
4/15/46
...........................
United
States
1,400,000
1,317,220
Southern
Co.
(The)
,
Senior
Bond
,
4.4
%
,
7/01/46
..............
United
States
5,000,000
4,664,230
g
State
Grid
Overseas
Investment
BVI
Ltd.
,
Senior
Bond
,
144A,
3.5
%
,
5/04/27
...........................................
China
12,400,000
12,448,999
Virginia
Electric
and
Power
Co.
,
Senior
Bond
,
6.35
%
,
11/30/37
...
United
States
820,000
979,139
g
Vistra
Operations
Co.
LLC
,
Senior
Note,
144A,
4.375%,
5/01/29
.....................
United
States
11,000,000
10,250,185
Senior
Secured
Bond,
144A,
4.3%,
7/15/29
................
United
States
6,000,000
5,556,111
53,216,544
Electrical
Equipment
0.4%
g
Sensata
Technologies
BV
,
Senior
Note
,
144A,
4
%
,
4/15/29
......
United
States
4,600,000
4,190,140
g
Vertiv
Group
Corp.
,
Senior
Secured
Note
,
144A,
4.125
%
,
11/15/28
United
States
8,500,000
7,541,370
11,731,510
Electronic
Equipment,
Instruments
&
Components
0.4%
CDW
LLC
/
CDW
Finance
Corp.
,
Senior
Note
,
3.25
%
,
2/15/29
....
United
States
5,000,000
4,306,525
Flex
Ltd.
,
Senior
Bond
,
4.875
%
,
5/12/30
....................
United
States
7,100,000
6,938,085
11,244,610
Energy
Equipment
&
Services
0.5%
g
Nabors
Industries
Ltd.
,
Senior
Note
,
144A,
7.25
%
,
1/15/26
......
United
States
5,000,000
4,552,525
g
Nabors
Industries,
Inc.
,
Senior
Note
,
144A,
7.375
%
,
5/15/27
.....
United
States
3,400,000
3,371,576
g
Schlumberger
Holdings
Corp.
,
Senior
Note
,
144A,
3.9
%
,
5/17/28
..
United
States
3,800,000
3,717,120
g
Weatherford
International
Ltd.
,
Senior
Note,
144A,
11%,
12/01/24
.......................
United
States
554,000
561,766
Senior
Note,
144A,
8.625%,
4/30/30
.....................
United
States
5,700,000
5,170,755
17,373,742
Entertainment
0.5%
g
Magallanes,
Inc.
,
Senior
Note
,
144A,
4.054
%
,
3/15/29
..........
United
States
2,100,000
1,999,877
Netflix,
Inc.
,
Senior
Bond,
4.375%,
11/15/26
.........................
United
States
11,800,000
11,829,264
Senior
Bond,
6.375%,
5/15/29
..........................
United
States
2,000,000
2,126,000
15,955,141
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
30
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Corporate
Bonds
(continued)
Equity
Real
Estate
Investment
Trusts
(REITs)
0.9%
g
American
Finance
Trust,
Inc.
/
American
Finance
Operating
Partner
LP
,
Senior
Note
,
144A,
4.5
%
,
9/30/28
.....................
United
States
5,300,000
$
4,271,985
g
Global
Net
Lease,
Inc.
/
Global
Net
Lease
Operating
Partnership
LP
,
Senior
Note
,
144A,
3.75
%
,
12/15/27
......................
United
States
7,700,000
6,757,910
MPT
Operating
Partnership
LP
/
MPT
Finance
Corp.
,
Senior
Bond
,
3.5
%
,
3/15/31
......................................
United
States
4,000,000
3,452,400
Simon
Property
Group
LP
,
Senior
Bond
,
4.25
%
,
11/30/46
.......
United
States
3,000,000
2,688,493
g
VICI
Properties
LP
/
VICI
Note
Co.,
Inc.
,
Senior
Note,
144A,
3.75%,
2/15/27
......................
United
States
7,500,000
6,880,361
Senior
Note,
144A,
3.875%,
2/15/29
.....................
United
States
3,300,000
3,017,405
g
XHR
LP
,
Senior
Secured
Note
,
144A,
4.875
%
,
6/01/29
.........
United
States
3,500,000
3,161,445
30,229,999
Food
Products
0.4%
g
Bimbo
Bakeries
USA,
Inc.
,
Senior
Bond
,
144A,
4
%
,
5/17/51
.....
Mexico
2,000,000
1,664,574
g
Darling
Ingredients,
Inc.
,
Senior
Note
,
144A,
6
%
,
6/15/30
.......
United
States
1,100,000
1,139,116
g
JBS
USA
Food
Co.
,
Senior
Bond,
144A,
3.625%,
1/15/32
.....................
United
States
3,500,000
2,923,532
Senior
Note,
144A,
2.5%,
1/15/27
.......................
United
States
6,300,000
5,607,000
11,334,222
Gas
Utilities
0.1%
Piedmont
Natural
Gas
Co.,
Inc.
,
Senior
Bond
,
3.35
%
,
6/01/50
....
United
States
2,800,000
2,179,882
Health
Care
Equipment
&
Supplies
0.2%
g
Garden
Spinco
Corp.
,
Senior
Note
,
144A,
8.625
%
,
7/20/30
......
United
States
2,700,000
2,839,104
g
Medline
Borrower
LP
,
Senior
Note
,
144A,
5.25
%
,
10/01/29
......
United
States
5,300,000
4,796,076
7,635,180
Health
Care
Providers
&
Services
1.9%
Centene
Corp.
,
Senior
Note,
4.25%,
12/15/27
..........................
United
States
3,000,000
2,952,939
Senior
Note,
2.45%,
7/15/28
...........................
United
States
2,300,000
2,063,824
Senior
Note,
4.625%,
12/15/29
.........................
United
States
2,300,000
2,272,205
Senior
Note,
3.375%,
2/15/30
..........................
United
States
1,400,000
1,274,151
Senior
Note,
2.625%,
8/01/31
..........................
United
States
5,300,000
4,526,088
g
CHS/Community
Health
Systems,
Inc.
,
Secured
Note,
144A,
6.875%,
4/15/29
....................
United
States
8,000,000
4,461,680
Senior
Secured
Note,
144A,
5.625%,
3/15/27
..............
United
States
3,700,000
3,300,733
Senior
Secured
Note,
144A,
6%,
1/15/29
..................
United
States
2,300,000
2,013,041
CVS
Health
Corp.
,
Senior
Bond
,
1.75
%
,
8/21/30
..............
United
States
4,000,000
3,364,288
g
DaVita,
Inc.
,
Senior
Note
,
144A,
4.625
%
,
6/01/30
.............
United
States
9,000,000
7,397,190
Elevance
Health,
Inc.
,
Senior
Bond
,
3.7
%
,
9/15/49
............
United
States
1,400,000
1,222,976
HCA,
Inc.
,
Senior
Bond
,
3.5
%
,
9/01/30
.....................
United
States
7,200,000
6,581,916
g
ModivCare
Escrow
Issuer,
Inc.
,
Senior
Note
,
144A,
5
%
,
10/01/29
.
United
States
4,400,000
4,031,346
Orlando
Health
Obligated
Group
,
3.777
%
,
10/01/28
............
United
States
3,870,000
3,788,040
Quest
Diagnostics,
Inc.
,
Senior
Bond
,
2.8
%
,
6/30/31
...........
United
States
2,100,000
1,876,391
g
Tenet
Healthcare
Corp.
,
Senior
Secured
Note
,
144A,
6.125
%
,
6/15/30
...........................................
United
States
8,000,000
8,092,320
59,219,128
Hotels,
Restaurants
&
Leisure
1.3%
Las
Vegas
Sands
Corp.
,
Senior
Bond
,
3.9
%
,
8/08/29
...........
United
States
8,300,000
7,423,422
g
Melco
Resorts
Finance
Ltd.
,
Senior
Note
,
144A,
5.75
%
,
7/21/28
..
Hong
Kong
5,900,000
4,206,093
g
Motion
Bondco
DAC
,
Senior
Note
,
144A,
6.625
%
,
11/15/27
......
United
Kingdom
2,000,000
1,606,255
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
31
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Corporate
Bonds
(continued)
Hotels,
Restaurants
&
Leisure
(continued)
g
NCL
Corp.
Ltd.
,
Senior
Note
,
144A,
5.875
%
,
3/15/26
...........
United
States
6,300,000
$
5,155,983
g
Papa
John's
International,
Inc.
,
Senior
Note
,
144A,
3.875
%
,
9/15/29
United
States
3,200,000
2,803,986
g
Premier
Entertainment
Sub
LLC
/
Premier
Entertainment
Finance
Corp.
,
Senior
Bond,
144A,
5.875%,
9/01/31
.....................
United
States
3,900,000
3,061,976
Senior
Note,
144A,
5.625%,
9/01/29
.....................
United
States
4,300,000
3,482,849
g
Station
Casinos
LLC
,
Senior
Note
,
144A,
4.5
%
,
2/15/28
........
United
States
3,100,000
2,816,707
g
Studio
City
Finance
Ltd.
,
Senior
Note
,
144A,
5
%
,
1/15/29
.......
Macau
11,700,000
5,997,735
g
Wynn
Macau
Ltd.
,
Senior
Note
,
144A,
5.625
%
,
8/26/28
.........
Macau
6,200,000
4,851,438
41,406,444
Household
Durables
0.3%
M/I
Homes,
Inc.
,
Senior
Note
,
3.95
%
,
2/15/30
................
United
States
2,900,000
2,410,569
Mohawk
Industries,
Inc.
,
Senior
Bond
,
3.625
%
,
5/15/30
.........
United
States
8,860,000
8,242,769
10,653,338
Household
Products
0.4%
g
Central
Garden
&
Pet
Co.
,
Senior
Bond
,
144A,
4.125
%
,
4/30/31
..
United
States
7,000,000
6,035,610
g
Kimberly-Clark
de
Mexico
SAB
de
CV
,
Senior
Bond
,
144A,
2.431
%
,
7/01/31
...........................................
Mexico
2,200,000
1,881,935
g
Spectrum
Brands,
Inc.
,
Senior
Bond
,
144A,
3.875
%
,
3/15/31
.....
United
States
4,500,000
3,695,850
11,613,395
Independent
Power
and
Renewable
Electricity
Producers
1.7%
g
Atlantica
Sustainable
Infrastructure
plc
,
Senior
Note
,
144A,
4.125
%
,
6/15/28
...........................................
Spain
3,400,000
3,113,937
g
Calpine
Corp.
,
Senior
Bond,
144A,
5%,
2/01/31
........................
United
States
4,300,000
3,822,292
Senior
Note,
144A,
4.625%,
2/01/29
.....................
United
States
6,500,000
5,853,770
g
Clearway
Energy
Operating
LLC
,
Senior
Note
,
144A,
3.75
%
,
2/15/31
United
States
7,800,000
6,848,277
g
Colbun
SA
,
Senior
Bond,
144A,
3.95%,
10/11/27
.....................
Chile
7,500,000
7,072,050
Senior
Bond,
144A,
3.15%,
3/06/30
......................
Chile
2,900,000
2,519,404
g
InterGen
NV
,
Senior
Secured
Bond
,
144A,
7
%
,
6/30/23
.........
Netherlands
11,900,000
11,478,502
g,i
Talen
Energy
Supply
LLC
,
Senior
Note,
144A,
10.5%,
1/15/26
......................
United
States
3,000,000
2,299,500
Senior
Secured
Note,
144A,
7.25%,
5/15/27
...............
United
States
10,800,000
10,726,689
53,734,421
Insurance
0.3%
Arch
Capital
Group
Ltd.
,
Senior
Bond
,
3.635
%
,
6/30/50
.........
United
States
10,000,000
8,093,671
Interactive
Media
&
Services
0.6%
g
Tencent
Holdings
Ltd.
,
Senior
Bond
,
144A,
2.39
%
,
6/03/30
......
China
17,100,000
14,529,823
g
ZipRecruiter,
Inc.
,
Senior
Note
,
144A,
5
%
,
1/15/30
.............
United
States
3,500,000
3,131,467
17,661,290
Internet
&
Direct
Marketing
Retail
0.6%
Alibaba
Group
Holding
Ltd.
,
Senior
Bond
,
4
%
,
12/06/37
.........
China
4,000,000
3,525,126
JD.com,
Inc.
,
Senior
Bond
,
3.375
%
,
1/14/30
.................
China
12,200,000
11,308,838
g
Match
Group
Holdings
II
LLC
,
Senior
Note
,
144A,
3.625
%
,
10/01/31
United
States
5,700,000
4,877,120
19,711,084
IT
Services
0.9%
g
Cablevision
Lightpath
LLC
,
Senior
Secured
Note
,
144A,
3.875
%
,
9/15/27
...........................................
United
States
9,200,000
8,189,610
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
32
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Corporate
Bonds
(continued)
IT
Services
(continued)
g
Gartner,
Inc.
,
Senior
Note,
144A,
4.5%,
7/01/28
.......................
United
States
7,000,000
$
6,752,572
Senior
Note,
144A,
3.625%,
6/15/29
.....................
United
States
2,200,000
2,012,296
g
Presidio
Holdings,
Inc.
,
Senior
Secured
Note
,
144A,
4.875
%
,
2/01/27
United
States
11,000,000
10,608,455
27,562,933
Machinery
0.1%
Parker-Hannifin
Corp.
,
Senior
Note
,
4.25
%
,
9/15/27
...........
United
States
3,700,000
3,783,905
Marine
0.4%
g
ICTSI
Treasury
BV
,
Senior
Bond
,
Reg
S,
4.625
%
,
1/16/23
.......
Philippines
12,000,000
12,078,540
Media
2.0%
Charter
Communications
Operating
LLC
/
Charter
Communications
Operating
Capital
,
Senior
Secured
Bond
,
2.8
%
,
4/01/31
.......
United
States
15,900,000
13,468,055
g
Clear
Channel
Outdoor
Holdings,
Inc.
,
Senior
Note,
144A,
7.75%,
4/15/28
......................
United
States
5,200,000
4,195,672
Senior
Note,
144A,
7.5%,
6/01/29
.......................
United
States
3,500,000
2,826,617
Senior
Secured
Note,
144A,
5.125%,
8/15/27
..............
United
States
3,200,000
2,967,712
g
Diamond
Sports
Group
LLC
/
Diamond
Sports
Finance
Co.
,
Senior
Secured
Note
,
144A,
5.375
%
,
8/15/26
....................
United
States
7,400,000
1,637,250
g
Directv
Financing
LLC
/
Directv
Financing
Co-Obligor,
Inc.
,
Senior
Secured
Note
,
144A,
5.875
%
,
8/15/27
....................
United
States
4,300,000
4,013,427
g
DISH
DBS
Corp.
,
Senior
Secured
Note
,
144A,
5.75
%
,
12/01/28
...
United
States
10,300,000
8,375,187
Fox
Corp.
,
Senior
Bond
,
3.5
%
,
4/08/30
.....................
United
States
1,400,000
1,322,176
g
Sinclair
Television
Group,
Inc.
,
Senior
Bond,
144A,
5.5%,
3/01/30
.......................
United
States
1,900,000
1,521,952
Senior
Secured
Note,
144A,
4.125%,
12/01/30
.............
United
States
7,600,000
6,472,008
g
Sirius
XM
Radio,
Inc.
,
Senior
Note
,
144A,
4
%
,
7/15/28
.........
United
States
6,000,000
5,581,980
g
Univision
Communications,
Inc.
,
Senior
Secured
Note
,
144A,
5.125
%
,
2/15/25
.....................................
United
States
10,000,000
9,736,650
62,118,686
Metals
&
Mining
0.5%
g
Constellium
SE
,
Senior
Note
,
144A,
3.75
%
,
4/15/29
...........
United
States
9,200,000
7,854,500
g
Novelis
Corp.
,
Senior
Note
,
144A,
3.25
%
,
11/15/26
............
United
States
1,700,000
1,584,664
g
SunCoke
Energy,
Inc.
,
Senior
Secured
Note
,
144A,
4.875
%
,
6/30/29
United
States
6,100,000
5,184,725
14,623,889
Multiline
Retail
0.0%
b,e,g
K2016470219
South
Africa
Ltd.
,
Senior
Secured
Note
,
144A,
PIK,
3
%
,
12/31/22
.......................................
South
Africa
10,914,248
—
b,e,g
K2016470260
South
Africa
Ltd.
,
Senior
Secured
Note
,
144A,
PIK,
25
%
,
12/31/22
......................................
South
Africa
4,807,777
—
—
Multi-Utilities
0.2%
Dominion
Energy,
Inc.
,
C
,
Senior
Note
,
3.375
%
,
4/01/30
........
United
States
7,800,000
7,421,127
Oil,
Gas
&
Consumable
Fuels
4.9%
g
Aker
BP
ASA
,
Senior
Bond
,
144A,
3.1
%
,
7/15/31
..............
Norway
8,700,000
7,512,177
g
Antero
Resources
Corp.
,
Senior
Note,
144A,
8.375%,
7/15/26
.....................
United
States
1,106,000
1,204,130
Senior
Note,
144A,
7.625%,
2/01/29
.....................
United
States
2,170,000
2,289,719
Canadian
Natural
Resources
Ltd.
,
Senior
Bond
,
2.95
%
,
7/15/30
..
Canada
3,700,000
3,350,300
g
Crestwood
Midstream
Partners
LP
/
Crestwood
Midstream
Finance
Corp.
,
Senior
Note
,
144A,
6
%
,
2/01/29
....................
United
States
15,200,000
13,872,888
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
33
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Corporate
Bonds
(continued)
Oil,
Gas
&
Consumable
Fuels
(continued)
g
CrownRock
LP
/
CrownRock
Finance,
Inc.
,
Senior
Note
,
144A,
5
%
,
5/01/29
...........................................
United
States
3,100,000
$
2,883,930
g
CVR
Energy,
Inc.
,
Senior
Note
,
144A,
5.25
%
,
2/15/25
..........
United
States
5,000,000
4,791,050
g
DT
Midstream,
Inc.
,
Senior
Bond
,
144A,
4.375
%
,
6/15/31
.......
United
States
4,600,000
4,137,884
g
Endeavor
Energy
Resources
LP
/
EER
Finance,
Inc.
,
Senior
Bond
,
144A,
5.75
%
,
1/30/28
.................................
United
States
8,700,000
8,734,191
Energy
Transfer
LP
,
Senior
Bond
,
3.75
%
,
5/15/30
.............
United
States
7,300,000
6,786,805
EnLink
Midstream
LLC
,
Senior
Bond,
5.375%,
6/01/29
..........................
United
States
10,900,000
10,367,154
g
Senior
Note,
144A,
5.625%,
1/15/28
.....................
United
States
1,700,000
1,653,004
g
EQM
Midstream
Partners
LP
,
Senior
Note
,
144A,
7.5
%
,
6/01/27
..
United
States
800,000
818,752
g
Hilcorp
Energy
I
LP
/
Hilcorp
Finance
Co.
,
Senior
Bond,
144A,
6%,
2/01/31
........................
United
States
6,500,000
5,977,985
Senior
Bond,
144A,
6.25%,
4/15/32
......................
United
States
1,700,000
1,533,931
Senior
Note,
144A,
5.75%,
2/01/29
......................
United
States
2,000,000
1,828,080
g
Kinetik
Holdings
LP
,
Senior
Note
,
144A,
5.875
%
,
6/15/30
........
United
States
5,000,000
5,086,725
g
Martin
Midstream
Partners
LP
/
Martin
Midstream
Finance
Corp.
,
Secured
Note
,
144A,
11.5
%
,
2/28/25
.....................
United
States
16,387,122
16,017,510
MPLX
LP
,
Senior
Note
,
2.65
%
,
8/15/30
.....................
United
States
15,000,000
12,998,753
Occidental
Petroleum
Corp.
,
Senior
Bond,
8.875%,
7/15/30
..........................
United
States
6,800,000
8,151,126
Senior
Bond,
6.125%,
1/01/31
..........................
United
States
5,900,000
6,330,995
Senior
Bond,
6.45%,
9/15/36
...........................
United
States
5,000,000
5,566,925
Sabine
Pass
Liquefaction
LLC
,
Senior
Secured
Note
,
4.5
%
,
5/15/30
United
States
10,000,000
9,901,465
Sunoco
LP
/
Sunoco
Finance
Corp.
,
Senior
Note
,
4.5
%
,
5/15/29
..
United
States
12,000,000
10,825,560
g
Venture
Global
Calcasieu
Pass
LLC
,
Senior
Secured
Bond
,
144A,
4.125
%
,
8/15/31
.....................................
United
States
2,600,000
2,402,582
155,023,621
Paper
&
Forest
Products
0.4%
g
Glatfelter
Corp.
,
Senior
Note
,
144A,
4.75
%
,
11/15/29
...........
United
States
4,300,000
2,939,802
Suzano
Austria
GmbH
,
Senior
Bond,
3.75%,
1/15/31
...........................
Brazil
7,100,000
6,236,711
DM3N,
Senior
Bond,
3.125%,
1/15/32
....................
Brazil
4,400,000
3,581,666
12,758,179
Personal
Products
0.2%
g
Oriflame
Investment
Holding
plc
,
Senior
Secured
Note
,
144A,
5.125
%
,
5/04/26
.....................................
Switzerland
9,600,000
5,846,400
g
Prestige
Brands,
Inc.
,
Senior
Bond
,
144A,
3.75
%
,
4/01/31
.......
United
States
1,900,000
1,636,565
7,482,965
Pharmaceuticals
1.3%
g
Bausch
Health
Cos.,
Inc.
,
Senior
Bond,
144A,
5.25%,
2/15/31
......................
United
States
4,000,000
2,061,860
Senior
Secured
Note,
144A,
6.125%,
2/01/27
..............
United
States
2,500,000
2,136,300
Senior
Secured
Note,
144A,
4.875%,
6/01/28
..............
United
States
6,300,000
5,037,322
g
Bayer
US
Finance
II
LLC
,
Senior
Bond
,
144A,
4.375
%
,
12/15/28
..
Germany
11,700,000
11,663,436
g
Endo
Dac
/
Endo
Finance
LLC
/
Endo
Finco,
Inc.
,
Secured
Note
,
144A,
9.5
%
,
7/31/27
.................................
United
States
6,580,000
1,612,100
g
Organon
&
Co.
/
Organon
Foreign
Debt
Co-Issuer
BV
,
Senior
Bond,
144A,
5.125%,
4/30/31
.....................
United
States
3,300,000
3,093,684
Senior
Secured
Note,
144A,
4.125%,
4/30/28
..............
United
States
5,000,000
4,734,275
Royalty
Pharma
plc
,
Senior
Bond
,
3.3
%
,
9/02/40
..............
United
States
5,300,000
4,144,577
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
34
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Corporate
Bonds
(continued)
Pharmaceuticals
(continued)
Teva
Pharmaceutical
Finance
Netherlands
III
BV
,
Senior
Note
,
5.125
%
,
5/09/29
.....................................
Israel
9,100,000
$
8,371,636
42,855,190
Real
Estate
Management
&
Development
0.6%
g
China
Overseas
Finance
Cayman
VI
Ltd.
,
Senior
Bond
,
Reg
S,
5.95
%
,
5/08/24
.....................................
China
4,000,000
4,078,827
g
Country
Garden
Holdings
Co.
Ltd.
,
Senior
Secured
Note
,
Reg
S,
7.25
%
,
4/08/26
.....................................
China
9,900,000
3,650,914
g
Five
Point
Operating
Co.
LP
/
Five
Point
Capital
Corp.
,
Senior
Note
,
144A,
7.875
%
,
11/15/25
...............................
United
States
2,300,000
1,960,968
g
Howard
Hughes
Corp.
(The)
,
Senior
Note
,
144A,
5.375
%
,
8/01/28
.
United
States
9,000,000
8,440,920
g
Vivion
Investments
SARL
,
Senior
Note
,
Reg
S,
3
%
,
8/08/24
.....
Luxembourg
1,800,000
EUR
1,687,538
19,819,167
Road
&
Rail
0.4%
CSX
Corp.
,
Senior
Bond
,
4.1
%
,
3/15/44
....................
United
States
1,600,000
1,491,957
g
First
Student
Bidco,
Inc.
/
First
Transit
Parent,
Inc.
,
Senior
Secured
Note
,
144A,
4
%
,
7/31/29
..............................
United
States
6,500,000
5,749,738
g
Kazakhstan
Temir
Zholy
Finance
BV
,
Senior
Bond
,
144A,
6.95
%
,
7/10/42
...........................................
Kazakhstan
7,550,000
6,421,690
13,663,385
Software
0.4%
g
Condor
Merger
Sub,
Inc.
,
Senior
Note
,
144A,
7.375
%
,
2/15/30
...
United
States
7,300,000
6,427,650
g
Rocket
Software,
Inc.
,
Senior
Note
,
144A,
6.5
%
,
2/15/29
........
United
States
10,000,000
7,236,200
13,663,850
Specialty
Retail
0.9%
AutoNation,
Inc.
,
Senior
Bond
,
4.75
%
,
6/01/30
...............
United
States
1,900,000
1,838,896
g
Lithia
Motors,
Inc.
,
Senior
Bond,
144A,
4.375%,
1/15/31
.....................
United
States
5,000,000
4,544,750
Senior
Note,
144A,
3.875%,
6/01/29
.....................
United
States
6,100,000
5,442,719
g
Michaels
Cos.,
Inc.
(The)
,
Senior
Note,
144A,
7.875%,
5/01/29
.....................
United
States
6,100,000
4,193,597
Senior
Secured
Note,
144A,
5.25%,
5/01/28
...............
United
States
4,700,000
3,923,513
g
Park
River
Holdings,
Inc.
,
Senior
Note
,
144A,
6.75
%
,
8/01/29
....
United
States
11,400,000
7,791,159
27,734,634
Technology
Hardware,
Storage
&
Peripherals
0.1%
Teledyne
FLIR
LLC
,
Senior
Note
,
2.5
%
,
8/01/30
..............
United
States
2,100,000
1,786,725
Thrifts
&
Mortgage
Finance
0.3%
g
Ladder
Capital
Finance
Holdings
LLLP
/
Ladder
Capital
Finance
Corp.
,
Senior
Note
,
144A,
4.75
%
,
6/15/29
.................
United
States
10,000,000
8,550,200
Tobacco
0.4%
Altria
Group,
Inc.
,
Senior
Bond
,
3.4
%
,
5/06/30
................
United
States
12,400,000
10,866,260
g
Imperial
Brands
Finance
plc
,
Senior
Bond
,
144A,
3.875
%
,
7/26/29
.
United
Kingdom
2,200,000
1,995,943
12,862,203
Trading
Companies
&
Distributors
0.7%
g
H&E
Equipment
Services,
Inc.
,
Senior
Note
,
144A,
3.875
%
,
12/15/28
United
States
12,200,000
10,610,584
g
Herc
Holdings,
Inc.
,
Senior
Note
,
144A,
5.5
%
,
7/15/27
..........
United
States
5,300,000
5,313,541
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
35
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Corporate
Bonds
(continued)
Trading
Companies
&
Distributors
(continued)
g
WESCO
Distribution,
Inc.
,
Senior
Note
,
144A,
7.25
%
,
6/15/28
....
United
States
5,500,000
$
5,705,123
21,629,248
Wireless
Telecommunication
Services
0.7%
g
America
Movil
SAB
de
CV
,
Senior
Bond
,
144A,
5.375
%
,
4/04/32
..
Mexico
7,100,000
6,745,461
e,g
Digicel
Group
Holdings
Ltd.
,
Senior
Note
,
144A,
PIK,
8
%
,
4/01/25
.
Bermuda
144,192
92,258
T-Mobile
USA,
Inc.
,
Senior
Secured
Bond,
3.3%,
2/15/51
.....................
United
States
4,800,000
3,676,904
Senior
Secured
Note,
3.875%,
4/15/30
...................
United
States
13,400,000
12,897,757
23,412,380
Total
Corporate
Bonds
(Cost
$1,546,873,776)
...................................
1,349,140,602
Senior
Floating
Rate
Interests
0.1%
Aerospace
&
Defense
0.0%
†
j
Dynasty
Acquisition
Co.,
Inc.
,
2020
Term
Loan,
B1,
5.872%,
(1-month
USD
LIBOR
+
3.5%),
4/06/26
...........................................
United
States
18,100
17,150
2020
Term
Loan,
B2,
5.872%,
(1-month
USD
LIBOR
+
3.5%),
4/06/26
...........................................
United
States
9,731
9,220
26,370
a
a
a
a
a
a
Leisure
Products
0.0%
†
j
Motion
Acquisition
Ltd.
,
Term
Loan,
B1,
5.5%,
(3-month
USD
LIBOR
+
3.25%),
11/12/26
.
United
Kingdom
17,874
16,538
Term
Loan,
B2,
5.5%,
(3-month
USD
LIBOR
+
3.25%),
11/12/26
.
United
Kingdom
2,548
2,358
18,896
a
a
a
a
a
a
Media
0.1%
j
Diamond
Sports
Group
LLC
,
First
Lien,
CME
Term
Loan,
9.786%,
(1-month
SOFR
+
8%),
5/25/26
...........................................
United
States
1,935,787
1,843,837
Second
Lien,
CME
Term
Loan,
5.036%,
(1-month
SOFR
+
3.25%),
8/24/26
...........................................
United
States
2,917,838
593,984
2,437,821
a
a
a
a
a
a
Software
0.0%
b,c,i,j
WorkCapital
BSD
SARL
,
Term
Loan
,
6.5
%
,
(
1-month
USD
LIBOR
),
11/02/22
..........................................
Luxembourg
20,000,000
—
Total
Senior
Floating
Rate
Interests
(Cost
$23,209,557)
..........................
2,483,087
k
Marketplace
Loans
2.6%
b
Diversified
Financial
Services
2.6%
a
a
a
a
a
a
Total
Marketplace
Loans
(Cost
$85,667,903)
....................................
81,060,553
Foreign
Government
and
Agency
Securities
6.8%
g
African
Export-Import
Bank
(The)
,
Senior
Bond
,
144A,
3.994
%
,
9/21/29
...........................................
Supranational
l
13,600,000
11,463,576
g
Banque
Ouest
Africaine
de
Developpement
,
Senior
Bond
,
144A,
5
%
,
7/27/27
...........................................
Supranational
l
11,500,000
10,528,365
m
Brazil
Notas
do
Tesouro
Nacional
,
Index
Linked,
Senior
Note
,
6
%
,
5/15/23
...........................................
Brazil
37,852,997
BRL
7,199,661
Colombia
Government
Bond
,
Senior
Bond,
3.875%,
4/25/27
..........................
Colombia
14,000,000
12,828,919
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
36
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Foreign
Government
and
Agency
Securities
(continued)
Colombia
Government
Bond,
(continued)
Senior
Bond,
9.85%,
6/28/27
...........................
Colombia
55,750,000,000
COP
$
11,938,329
Senior
Bond,
5%,
6/15/45
.............................
Colombia
16,200,000
11,830,838
g
Comision
Federal
de
Electricidad
,
Senior
Bond
,
144A,
3.348
%
,
2/09/31
...........................................
Mexico
9,500,000
7,577,533
g
Dominican
Republic
Government
Bond
,
Senior
Bond,
144A,
6.85%,
1/27/45
......................
Dominican
Republic
6,800,000
6,007,041
Senior
Note,
144A,
8.9%,
2/15/23
.......................
Dominican
Republic
838,300,000
DOP
15,360,107
Ecopetrol
SA
,
Senior
Bond,
4.125%,
1/16/25
..........................
Colombia
3,800,000
3,661,629
Senior
Bond,
4.625%,
11/02/31
.........................
Colombia
4,400,000
3,629,604
f,g
Electricite
de
France
SA
,
Junior
Sub.
Bond
,
144A,
5.25%
to
1/28/23,
FRN
thereafter
,
Perpetual
.............................
France
24,000,000
23,070,000
g
Export-Import
Bank
of
India
,
Senior
Bond
,
144A,
3.875
%
,
2/01/28
.
India
16,000,000
15,472,140
g
Gabon
Government
Bond
,
Senior
Bond
,
144A,
6.625
%
,
2/06/31
..
Gabon
3,900,000
2,764,125
g
Indonesia
Asahan
Aluminium
Persero
PT
,
Senior
Bond
,
144A,
5.45
%
,
5/15/30
.....................................
Indonesia
13,800,000
13,208,808
Indonesia
Government
Bond
,
g
Senior
Bond,
144A,
4.35%,
1/08/27
......................
Indonesia
8,100,000
8,243,453
g
Senior
Bond,
144A,
3.85%,
7/18/27
......................
Indonesia
12,000,000
12,020,709
FR39,
Senior
Bond,
11.75%,
8/15/23
.....................
Indonesia
29,150,000,000
IDR
2,101,866
g
Iraq
Government
Bond
,
Senior
Bond
,
144A,
5.8
%
,
1/15/28
......
Iraq
3,162,500
2,738,172
g
Israel
Electric
Corp.
Ltd.
,
Senior
Secured
Bond
,
144A,
Reg
S,
4.25
%
,
8/14/28
...........................................
Israel
9,200,000
9,139,298
Mexico
Government
Bond
,
Senior
Bond
,
3.75
%
,
1/11/28
........
Mexico
4,000,000
3,931,547
Peru
Government
Bond
,
Senior
Bond
,
6.55
%
,
3/14/37
..........
Peru
8,600,000
9,805,670
g
Romania
Government
Bond
,
Senior
Bond
,
144A,
6.125
%
,
1/22/44
.
Romania
4,700,000
4,431,113
Turkey
Government
Bond
,
Senior
Bond
,
4.875
%
,
10/09/26
......
Turkey
8,000,000
6,575,760
Total
Foreign
Government
and
Agency
Securities
(Cost
$257,575,756)
............
215,528,263
U.S.
Government
and
Agency
Securities
17.0%
U.S.
Treasury
Bonds
,
7.125%,
2/15/23
.....................................
United
States
3,000,000
3,072,621
6.25%,
8/15/23
.....................................
United
States
4,000,000
4,134,427
6.875%,
8/15/25
.....................................
United
States
1,000,000
1,116,289
3%,
11/15/44
.......................................
United
States
19,000,000
18,020,312
3%,
2/15/47
........................................
United
States
17,600,000
16,775,000
3%,
2/15/48
........................................
United
States
17,400,000
16,745,461
U.S.
Treasury
Notes
,
1.625%,
11/15/22
....................................
United
States
29,800,000
29,714,286
1.75%,
1/31/23
.....................................
United
States
37,400,000
37,187,615
2.75%,
2/15/24
.....................................
United
States
36,300,000
36,189,398
3%,
6/30/24
........................................
United
States
63,000,000
63,095,977
2.625%,
3/31/25
.....................................
United
States
66,300,000
65,932,241
2.875%,
4/30/25
.....................................
United
States
65,000,000
65,022,851
m
Index
Linked,
0.625%,
1/15/26
..........................
United
States
27,000,000
34,112,896
2.125%,
5/31/26
.....................................
United
States
44,000,000
42,999,687
2.375%,
5/15/27
.....................................
United
States
48,200,000
47,424,281
3.125%,
11/15/28
....................................
United
States
37,000,000
37,819,492
3.25%,
6/30/29
.....................................
United
States
20,000,000
20,685,938
Total
U.S.
Government
and
Agency
Securities
(Cost
$551,535,498)
................
540,048,772
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
37
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Asset-Backed
Securities
7.5%
Airlines
0.0%
†
United
Airlines
Pass-Through
Trust
,
2020-1
,
B
,
4.875
%
,
7/15/27
.
..
United
States
955,200
$
908,203
Consumer
Finance
0.6%
j
Citibank
Credit
Card
Issuance
Trust
,
2017-A7
,
A7
,
FRN
,
2.177
%
,
(
1-month
USD
LIBOR
+
0.37
%
),
8/08/24
.
..................
United
States
20,069,000
20,069,165
Diversified
Financial
Services
6.9%
g,j
AMMC
CLO
XI
Ltd.
,
2012-11A
,
CR2
,
144A,
FRN
,
3.186
%
,
(
3-month
USD
LIBOR
+
1.9
%
),
4/30/31
.
..........................
United
States
1,000,000
922,683
g,j
Antares
CLO
Ltd.
,
2018-1A
,
B
,
144A,
FRN
,
4.36
%
,
(
3-month
USD
LIBOR
+
1.65
%
),
4/20/31
.
.............................
United
States
17,500,000
16,317,642
g,j
BCC
Middle
Market
CLO
LLC
,
2018-1A
,
A2
,
144A,
FRN
,
4.86
%
,
(
3-month
USD
LIBOR
+
2.15
%
),
10/20/30
.
.................
United
States
6,300,000
6,136,749
g,j
BlueMountain
CLO
Ltd.
,
2014-2A,
CR2,
144A,
FRN,
4.91%,
(3-month
USD
LIBOR
+
2.2%),
10/20/30
..........................................
United
States
3,800,000
3,567,117
2016-3A,
CR,
144A,
FRN,
3.611%,
(3-month
USD
LIBOR
+
2.2%),
11/15/30
..........................................
United
States
300,000
277,524
2018-1A,
D,
144A,
FRN,
4.336%,
(3-month
USD
LIBOR
+
3.05%),
7/30/30
...........................................
United
States
5,000,000
4,325,000
g,j
BlueMountain
Fuji
EUR
CLO
V
DAC
,
5A
,
B
,
144A,
FRN
,
1.55
%
,
(
3-month
EURIBOR
+
1.55
%
),
1/15/33
.
...................
Ireland
6,200,000
EUR
5,822,424
g,j
BlueMountain
Fuji
US
CLO
III
Ltd.
,
2017-3A
,
C
,
144A,
FRN
,
4.212
%
,
(
3-month
USD
LIBOR
+
1.7
%
),
1/15/30
.
...................
United
States
1,250,000
1,138,061
g,j
Burnham
Park
CLO
Ltd.
,
2016-1A
,
BR
,
144A,
FRN
,
4.21
%
,
(
3-month
USD
LIBOR
+
1.5
%
),
10/20/29
.
.........................
United
States
3,500,000
3,379,875
g,j
Buttermilk
Park
CLO
Ltd.
,
2018-1A
,
C
,
144A,
FRN
,
4.612
%
,
(
3-month
USD
LIBOR
+
2.1
%
),
10/15/31
.
..................
United
States
9,730,950
9,227,854
g,j
Carlyle
Global
Market
Strategies
CLO
Ltd.
,
2013-3A,
BR,
144A,
FRN,
4.212%,
(3-month
USD
LIBOR
+
1.7%),
10/15/30
..........................................
United
States
300,000
281,467
2014-2RA,
B,
144A,
FRN,
3.236%,
(3-month
USD
LIBOR
+
1.825%),
5/15/31
....................................
United
States
580,000
538,164
2014-4RA,
C,
144A,
FRN,
5.412%,
(3-month
USD
LIBOR
+
2.9%),
7/15/30
...........................................
United
States
3,000,000
2,650,451
g,j
Carlyle
GMS
Finance
MM
CLO
LLC
,
2015-1A
,
A2R
,
144A,
FRN
,
4.712
%
,
(
3-month
USD
LIBOR
+
2.2
%
),
10/15/31
.
...........
United
States
12,000,000
11,231,581
g,n
Consumer
Loan
Underlying
Bond
Certificate
Issuer
Trust
I
,
2018-29,
PT,
144A,
FRN,
27.296%,
12/15/43
...............
United
States
278,823
266,769
2019-26,
PT,
144A,
FRN,
17.957%,
8/15/44
................
United
States
1,116,380
1,073,170
2019-31,
PT,
144A,
FRN,
17.819%,
9/15/44
................
United
States
978,185
928,324
2019-37,
PT,
144A,
FRN,
18.774%,
10/17/44
...............
United
States
1,138,052
1,080,876
2019-42,
PT,
144A,
FRN,
17.951%,
11/15/44
...............
United
States
1,226,958
1,175,832
2019-51,
PT,
144A,
FRN,
15.681%,
1/15/45
................
United
States
1,324,258
1,276,237
2019-52,
PT,
144A,
FRN,
16.325%,
1/15/45
................
United
States
1,394,013
1,350,831
2019-S1,
PT,
144A,
FRN,
15.098%,
4/15/44
................
United
States
471,055
446,513
2019-S2,
PT,
144A,
FRN,
12.5%,
5/16/44
..................
United
States
368,135
347,876
2019-S3,
PT,
144A,
FRN,
13.086%,
6/15/44
................
United
States
603,123
573,608
2019-S4,
PT,
144A,
FRN,
11.589%,
8/15/44
................
United
States
811,379
780,701
2019-S5,
PT,
144A,
FRN,
12.985%,
9/15/44
................
United
States
798,310
766,222
2019-S6,
PT,
144A,
FRN,
11.334%,
10/17/44
...............
United
States
783,819
743,107
2019-S7,
PT,
144A,
FRN,
11.047%,
12/15/44
...............
United
States
643,295
614,015
2019-S8,
PT,
144A,
FRN,
9.937%,
1/15/45
.................
United
States
837,136
796,903
2020-2,
PT,
144A,
FRN,
16.464%,
3/15/45
.................
United
States
1,335,553
1,289,093
2020-7,
PT,
144A,
FRN,
15.856%,
4/17/45
.................
United
States
806,372
767,094
g,j
Dryden
55
CLO
Ltd.
,
2018-55A
,
D
,
144A,
FRN
,
5.362
%
,
(
3-month
USD
LIBOR
+
2.85
%
),
4/15/31
.
.........................
United
States
3,000,000
2,676,571
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
38
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Asset-Backed
Securities
(continued)
Diversified
Financial
Services
(continued)
g,j
Dryden
75
CLO
Ltd.
,
2019-75A
,
AR2
,
144A,
FRN
,
3.552
%
,
(
3-month
USD
LIBOR
+
1.04
%
),
4/15/34
.
.........................
United
States
30,321,000
$
29,398,440
g,j
Galaxy
XVIII
CLO
Ltd.
,
2018-28A
,
C
,
144A,
FRN
,
4.462
%
,
(
3-month
USD
LIBOR
+
1.95
%
),
7/15/31
.
.........................
United
States
3,070,000
2,893,531
g,j
Galaxy
XXVII
CLO
Ltd.
,
2018-27A
,
C
,
144A,
FRN
,
3.211
%
,
(
3-month
USD
LIBOR
+
1.8
%
),
5/16/31
.
..........................
United
States
3,600,000
3,366,285
g
Home
Partners
of
America
Trust
,
2021-2,
B,
144A,
2.302%,
12/17/26
......................
United
States
12,103,743
11,042,955
2021-3,
B,
144A,
2.649%,
1/17/41
.......................
United
States
4,524,353
4,136,170
g,j
HPS
Loan
Management
Ltd.
,
13A-18
,
C
,
144A,
FRN
,
4.662
%
,
(
3-month
USD
LIBOR
+
2.15
%
),
10/15/30
.
.................
United
States
4,950,000
4,677,032
g,j
LCM
XVII
LP
,
17A,
BRR,
144A,
FRN,
4.112%,
(3-month
USD
LIBOR
+
1.6%),
10/15/31
..........................................
United
States
4,590,000
4,274,317
17A,
CRR,
144A,
FRN,
4.612%,
(3-month
USD
LIBOR
+
2.1%),
10/15/31
..........................................
United
States
4,240,000
3,952,104
g,j
LCM
XVIII
LP
,
18A
,
DR
,
144A,
FRN
,
5.51
%
,
(
3-month
USD
LIBOR
+
2.8
%
),
4/20/31
.
.....................................
United
States
6,860,000
6,054,265
g,j
Madison
Park
Euro
Funding
VIII
DAC
,
8A
,
BRN
,
144A,
FRN
,
1.7
%
,
(
3-month
EURIBOR
+
1.7
%
),
4/15/32
.
....................
Ireland
4,100,000
EUR
3,916,177
g,j
Neuberger
Berman
CLO
XXII
Ltd.
,
2016-22A
,
CR
,
144A,
FRN
,
4.94
%
,
(
3-month
USD
LIBOR
+
2.2
%
),
10/17/30
.
............
United
States
2,129,630
2,032,248
g,j
Northwoods
Capital
Ltd.
,
2018-11BA
,
A1
,
144A,
FRN
,
3.838
%
,
(
3-month
USD
LIBOR
+
1.1
%
),
4/19/31
.
...................
United
States
7,565,193
7,452,889
g,j
Octagon
Investment
Partners
28
Ltd.
,
2016-1A
,
BR
,
144A,
FRN
,
4.583
%
,
(
3-month
USD
LIBOR
+
1.8
%
),
10/24/30
.
...........
United
States
3,914,730
3,775,725
g,j
Octagon
Investment
Partners
36
Ltd.
,
2018-1A
,
A1
,
144A,
FRN
,
3.482
%
,
(
3-month
USD
LIBOR
+
0.97
%
),
4/15/31
.
...........
United
States
7,475,000
7,340,967
g,j
Octagon
Investment
Partners
37
Ltd.
,
2018-2A
,
C
,
144A,
FRN
,
5.633
%
,
(
3-month
USD
LIBOR
+
2.85
%
),
7/25/30
.
...........
United
States
4,000,000
3,651,290
g,j
Octagon
Investment
Partners
38
Ltd.
,
2018-1A
,
C
,
144A,
FRN
,
5.66
%
,
(
3-month
USD
LIBOR
+
2.95
%
),
7/20/30
.
............
United
States
5,000,000
4,516,853
g,n
Prosper
Pass-Thru
Trust
III
,
2020-PT1,
A,
144A,
FRN,
18.702%,
3/15/26
................
United
States
791,748
797,597
2020-PT2,
A,
144A,
FRN,
13.552%,
4/15/26
................
United
States
916,412
897,071
2020-PT3,
A,
144A,
FRN,
15.099%,
5/15/26
................
United
States
237,064
228,799
g,j
Strata
CLO
I
Ltd.
,
2018-1A
,
B
,
144A,
FRN
,
4.712
%
,
(
3-month
USD
LIBOR
+
2.2
%
),
1/15/31
.
..............................
United
States
14,100,000
13,758,116
g,n
Upgrade
Master
Pass-Thru
Trust
,
2019-PT1,
A,
144A,
FRN,
11.815%,
6/15/25
................
United
States
276,070
250,229
2019-PT2,
A,
144A,
FRN,
13.634%,
2/15/26
................
United
States
679,680
681,789
g,j
Voya
CLO
Ltd.
,
2013-2A,
A2AR,
144A,
FRN,
4.183%,
(3-month
USD
LIBOR
+
1.4%),
4/25/31
......................................
United
States
2,200,000
2,096,346
2013-2A,
BR,
144A,
FRN,
4.633%,
(3-month
USD
LIBOR
+
1.85%),
4/25/31
.....................................
United
States
5,770,000
5,272,910
2014-1A,
CR2,
144A,
FRN,
5.281%,
(3-month
USD
LIBOR
+
2.8%),
4/18/31
......................................
United
States
8,000,000
6,758,976
2016-1A,
BR,
144A,
FRN,
4.51%,
(3-month
USD
LIBOR
+
1.8%),
1/20/31
...........................................
United
States
590,000
545,750
216,539,165
a
a
a
a
a
a
Total
Asset-Backed
Securities
(Cost
$251,590,939)
..............................
237,516,533
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
39
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Commercial
Mortgage-Backed
Securities
0.5%
Diversified
Financial
Services
0.5%
g,j
BX
Commercial
Mortgage
Trust
,
2021-VOLT,
A,
144A,
FRN,
2.699%,
(1-month
USD
LIBOR
+
0.7%),
9/15/36
......................................
United
States
2,480,000
$
2,388,879
2021-VOLT,
B,
144A,
FRN,
2.949%,
(1-month
USD
LIBOR
+
0.95%),
9/15/36
.....................................
United
States
3,890,000
3,685,524
2022-LP2,
A,
144A,
FRN,
3.114%,
(1-month
SOFR
+
1.013%),
2/15/39
...........................................
United
States
8,777,955
8,400,431
n
Commercial
Mortgage
Trust
,
2006-GG7
,
AJ
,
FRN
,
6.012
%
,
7/10/38
United
States
2,336,688
1,870,519
16,345,353
a
a
a
a
a
a
Total
Commercial
Mortgage-Backed
Securities
(Cost
$17,361,987)
................
16,345,353
Mortgage-Backed
Securities
2.3%
o
Federal
Home
Loan
Mortgage
Corp.
(FHLMC)
Adjustable
Rate
0.0%
†
FHLMC,
2.348%,
(1-year
CMT
T-Note
+/-
MBS
Margin),
1/01/33
..
United
States
9,297
9,174
Federal
Home
Loan
Mortgage
Corp.
(FHLMC)
Fixed
Rate
1.3%
FHLMC
Gold
Pool,
20
Year,
5%,
5/01/27
-
5/01/30
.............
United
States
143,186
148,099
FHLMC
Gold
Pool,
30
Year,
4.5%,
10/01/40
.................
United
States
46,662
48,446
FHLMC
Gold
Pool,
30
Year,
5%,
3/01/34
-
2/01/38
.............
United
States
285,867
300,235
FHLMC
Gold
Pool,
30
Year,
5.5%,
6/01/33
-
6/01/36
...........
United
States
403,398
427,857
FHLMC
Gold
Pool,
30
Year,
6%,
6/01/33
-
6/01/37
.............
United
States
168,758
178,614
FHLMC
Gold
Pool,
30
Year,
6.5%,
12/01/25
-
6/01/36
..........
United
States
44,515
47,599
FHLMC
Gold
Pool,
30
Year,
7%,
5/01/28
-
8/01/32
.............
United
States
8,089
8,267
FHLMC
Gold
Pool,
30
Year,
7.5%,
1/01/26
-
1/01/31
...........
United
States
2,388
2,605
FHLMC
Gold
Pool,
30
Year,
8%,
11/01/25
...................
United
States
28
28
FHLMC
Gold
Pool,
30
Year,
9%,
12/01/24
...................
United
States
20
21
FHLMC
Pool,
30
Year,
4%,
6/01/52
........................
United
States
40,587,021
40,840,336
42,002,107
o
Federal
National
Mortgage
Association
(FNMA)
Adjustable
Rate
0.0%
†
FNMA,
2.279%,
(1-year
CMT
T-Note
+/-
MBS
Margin),
12/01/34
..
United
States
49,679
49,758
Federal
National
Mortgage
Association
(FNMA)
Fixed
Rate
1.0%
FNMA,
15
Year,
2.5%,
7/01/27
...........................
United
States
86,514
85,347
FNMA,
20
Year,
4.5%,
3/01/28
...........................
United
States
23,802
24,316
FNMA,
20
Year,
5%,
9/01/23
-
6/01/31
......................
United
States
178,843
184,421
FNMA,
30
Year,
3%,
9/01/48
-
9/01/51
......................
United
States
18,642,587
18,066,862
FNMA,
30
Year,
4%,
2/01/49
.............................
United
States
9,585,355
9,791,000
FNMA,
30
Year,
4.5%,
2/01/41
...........................
United
States
141,058
146,989
FNMA,
30
Year,
5%,
10/01/35
............................
United
States
337,274
358,299
FNMA,
30
Year,
5.5%,
9/01/33
-
12/01/35
...................
United
States
537,727
569,609
FNMA,
30
Year,
6%,
6/01/34
-
5/01/38
......................
United
States
941,630
998,409
FNMA,
30
Year,
6.5%,
3/01/28
-
10/01/37
...................
United
States
159,396
172,251
FNMA,
30
Year,
7.5%,
10/01/29
...........................
United
States
2,855
3,120
FNMA,
30
Year,
8%,
1/01/25
-
5/01/26
......................
United
States
898
931
30,401,554
Government
National
Mortgage
Association
(GNMA)
Fixed
Rate
0.0%
†
GNMA
I,
30
Year,
8%,
2/15/25
............................
United
States
10
10
GNMA
I,
Single-family,
30
Year,
5%,
6/15/34
-
7/15/34
..........
United
States
51,131
53,542
GNMA
I,
Single-family,
30
Year,
5.5%,
2/15/33
-
6/15/36
........
United
States
188,960
200,311
GNMA
I,
Single-family,
30
Year,
6%,
8/15/36
.................
United
States
10,885
11,789
GNMA
I,
Single-family,
30
Year,
6.5%,
2/15/29
-
3/15/32
........
United
States
3,518
3,710
GNMA
I,
Single-family,
30
Year,
7%,
11/15/27
-
5/15/28
.........
United
States
3,860
3,867
GNMA
I,
Single-family,
30
Year,
7.5%,
9/15/23
-
5/15/27
........
United
States
303
305
GNMA
I,
Single-family,
30
Year,
8%,
7/15/26
-
9/15/27
..........
United
States
1,867
1,891
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
40
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Mortgage-Backed
Securities
(continued)
Government
National
Mortgage
Association
(GNMA)
Fixed
Rate
(continued)
GNMA
I,
Single-family,
30
Year,
8.5%,
8/15/24
................
United
States
21
$
21
GNMA
I,
Single-family,
30
Year,
9%,
1/15/25
.................
United
States
53
53
GNMA
I,
Single-family,
30
Year,
9.5%,
6/15/25
................
United
States
204
204
GNMA
II,
Single-family,
30
Year,
5%,
9/20/33
-
11/20/33
.........
United
States
94,092
100,096
GNMA
II,
Single-family,
30
Year,
5.5%,
6/20/34
...............
United
States
49,036
52,935
GNMA
II,
Single-family,
30
Year,
6%,
11/20/34
................
United
States
52,026
56,516
GNMA
II,
Single-family,
30
Year,
6.5%,
7/20/28
-
12/20/31
.......
United
States
30,629
32,630
GNMA
II,
Single-family,
30
Year,
7.5%,
4/20/32
...............
United
States
8,577
9,057
526,937
Total
Mortgage-Backed
Securities
(Cost
$73,003,830)
............................
72,989,530
Municipal
Bonds
0.9%
California
0.1%
San
Bernardino
Community
College
District
,
GO
,
2019
A-1
,
3.271
%
,
8/01/39
...........................................
United
States
2,160,000
1,870,315
Illinois
0.2%
State
of
Illinois
,
GO
,
2003
,
5.1
%
,
6/01/33
...................
United
States
6,960,000
7,106,963
New
Jersey
0.1%
New
Jersey
Transportation
Trust
Fund
Authority
,
Revenue
,
2019
B
,
Refunding
,
4.131
%
,
6/15/42
............................
United
States
3,535,000
3,157,390
New
York
0.2%
Metropolitan
Transportation
Authority
,
Revenue
,
2020
E
,
Refunding
,
4
%
,
11/15/45
.......................................
United
States
5,340,000
5,189,779
New
York
State
Dormitory
Authority
,
State
University
of
New
York
Dormitory
Facilities
,
Revenue
,
2019
B
,
Refunding
,
3.142
%
,
7/01/43
...........................................
United
States
3,145,000
2,665,205
7,854,984
Ohio
0.1%
State
of
Ohio
,
Cleveland
Clinic
Health
System
Obligated
Group
,
Revenue
,
2019
G
,
Refunding
,
3.276
%
,
1/01/42
.............
United
States
1,975,000
1,671,160
Pennsylvania
0.1%
University
of
Pittsburgh-of
the
Commonwealth
System
of
Higher
Education
,
Revenue
,
2017
C
,
Refunding
,
3.005
%
,
9/15/41
.....
United
States
5,500,000
4,579,574
Texas
0.1%
Texas
State
University
System
,
Revenue
,
2019
B
,
Refunding
,
3.289
%
,
3/15/40
.....................................
United
States
1,965,000
1,757,049
Total
Municipal
Bonds
(Cost
$30,514,213)
......................................
27,997,435
Residential
Mortgage-Backed
Securities
5.3%
Diversified
Financial
Services
2.1%
g
BRAVO
Residential
Funding
Trust
,
2019-1,
A1C,
144A,
3.5%,
3/25/58
.......................
United
States
1,792,815
1,777,021
n
2019-2,
A3,
144A,
FRN,
3.5%,
10/25/44
...................
United
States
4,333,021
4,187,903
g,n
CIM
Trust
,
2019-INV1,
A1,
144A,
FRN,
4%,
2/25/49
..................
United
States
1,114,706
1,099,228
2019-INV2,
A3,
144A,
FRN,
4%,
5/25/49
..................
United
States
2,042,157
2,008,324
g,n
COLT
Mortgage
Loan
Trust
,
2022-4
,
A1
,
144A,
FRN
,
4.301
%
,
3/25/67
...........................................
United
States
4,024,217
3,952,706
g,n
J.P.
Morgan
Mortgage
Trust
,
2021-13,
A4,
144A,
FRN,
2.5%,
4/25/52
...................
United
States
13,748,959
12,794,142
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
41
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Residential
Mortgage-Backed
Securities
(continued)
Diversified
Financial
Services
(continued)
g,n
J.P.
Morgan
Mortgage
Trust,
(continued)
2021-15,
A4,
144A,
FRN,
2.5%,
6/25/52
...................
United
States
4,370,842
$
4,067,302
g,n
Mill
City
Mortgage
Loan
Trust
,
2018-4
,
A1B
,
144A,
FRN
,
3.492
%
,
4/25/66
...........................................
United
States
8,294,131
8,121,882
g,n
OBX
Trust
,
2021-J3
,
A4
,
144A,
FRN
,
2.5
%
,
10/25/51
...........
United
States
2,847,675
2,641,606
g,n
Provident
Funding
Associates
LLP
,
2021-J1
,
A3
,
144A,
FRN
,
2.5
%
,
2/20/49
...........................................
United
States
8,999,456
8,348,219
g,n
Provident
Funding
Mortgage
Trust
,
2019-1
,
A2
,
144A,
FRN
,
3
%
,
12/25/49
..........................................
United
States
1,729,294
1,581,884
g,n
PSMC
Trust
,
2021-3
,
A3
,
144A,
FRN
,
2.5
%
,
8/25/51
...........
United
States
16,409,042
15,269,492
65,849,709
a
a
a
a
a
a
Thrifts
&
Mortgage
Finance
3.2%
j
FHLMC
Structured
Agency
Credit
Risk
Debt
Notes
,
2013-DN2,
M2,
FRN,
6.509%,
(1-month
USD
LIBOR
+
4.25%),
11/25/23
..........................................
United
States
5,507,771
5,660,911
2014-DN2,
M3,
FRN,
5.859%,
(1-month
USD
LIBOR
+
3.6%),
4/25/24
...........................................
United
States
9,971,922
10,077,758
2014-DN3,
M3,
FRN,
6.259%,
(1-month
USD
LIBOR
+
4%),
8/25/24
...........................................
United
States
234,176
238,063
2014-DN4,
M3,
FRN,
6.809%,
(1-month
USD
LIBOR
+
4.55%),
10/25/24
..........................................
United
States
2,468,272
2,512,472
2015-DNA1,
M3,
FRN,
5.559%,
(1-month
USD
LIBOR
+
3.3%),
10/25/27
..........................................
United
States
591,585
599,173
2015-DNA3,
M3,
FRN,
6.959%,
(1-month
USD
LIBOR
+
4.7%),
4/25/28
...........................................
United
States
8,003,492
8,326,486
2016-DNA2,
M3,
FRN,
6.909%,
(1-month
USD
LIBOR
+
4.65%),
10/25/28
..........................................
United
States
7,212,890
7,537,741
j
FNMA
Connecticut
Avenue
Securities
,
2013-C01,
M2,
FRN,
7.509%,
(1-month
USD
LIBOR
+
5.25%),
10/25/23
..........................................
United
States
4,412,240
4,553,443
2014-C01,
M2,
FRN,
6.659%,
(1-month
USD
LIBOR
+
4.4%),
1/25/24
...........................................
United
States
5,840,483
5,998,497
2014-C02,
1M2,
FRN,
4.859%,
(1-month
USD
LIBOR
+
2.6%),
5/25/24
...........................................
United
States
5,387,015
5,443,954
2014-C03,
1M2,
FRN,
5.259%,
(1-month
USD
LIBOR
+
3%),
7/25/24
...........................................
United
States
11,672,925
11,836,608
2014-C03,
2M2,
FRN,
5.159%,
(1-month
USD
LIBOR
+
2.9%),
7/25/24
...........................................
United
States
803,199
807,658
2015-C01,
1M2,
FRN,
6.559%,
(1-month
USD
LIBOR
+
4.3%),
2/25/25
...........................................
United
States
1,724,571
1,753,130
2015-C02,
1M2,
FRN,
6.259%,
(1-month
USD
LIBOR
+
4%),
5/25/25
...........................................
United
States
5,940,472
6,061,730
2015-C03,
1M2,
FRN,
7.259%,
(1-month
USD
LIBOR
+
5%),
7/25/25
...........................................
United
States
6,922,328
7,001,412
2016-C01,
1M2,
FRN,
9.009%,
(1-month
USD
LIBOR
+
6.75%),
8/25/28
...........................................
United
States
1,321,465
1,390,162
2016-C02,
1M2,
FRN,
8.259%,
(1-month
USD
LIBOR
+
6%),
9/25/28
...........................................
United
States
10,215,630
10,652,667
2016-C03,
1M2,
FRN,
7.559%,
(1-month
USD
LIBOR
+
5.3%),
10/25/28
..........................................
United
States
6,856,915
7,121,128
2017-C04,
2M2,
FRN,
5.109%,
(1-month
USD
LIBOR
+
2.85%),
11/25/29
..........................................
United
States
5,050,562
5,093,418
102,666,411
a
a
a
a
a
a
Total
Residential
Mortgage-Backed
Securities
(Cost
$180,774,851)
................
168,516,120
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
42
a
a
Country
Shares
a
Value
a
a
a
a
a
a
Escrows
and
Litigation
Trusts
0.0%
†
a,b
K2016470219
South
Africa
Ltd.,
Escrow
Account
..............
South
Africa
620,001
$
—
a
Mesquite
Energy,
Inc.,
Escrow
Account
.....................
United
States
6,000,000
127,500
a,b
Millennium
Corporate
Claim
Trust,
Escrow
Account
............
United
States
8,736,450
—
a,b
Millennium
Lender
Claim
Trust,
Escrow
Account
..............
United
States
8,736,450
—
Total
Escrows
and
Litigation
Trusts
(Cost
$5,707,489)
...........................
127,500
Total
Long
Term
Investments
(Cost
$3,356,477,191)
.............................
2,972,520,124
a
Short
Term
Investments
3.6%
a
a
Country
Shares
a
Value
a
a
a
Money
Market
Funds
1.3%
d,p
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
1.445%
....
United
States
41,077,654
41,077,654
Total
Money
Market
Funds
(Cost
$41,077,654)
..................................
41,077,654
Principal
Amount
*
a
a
a
Repurchase
Agreements
2.3%
q
Joint
Repurchase
Agreement,
2.147%,
8/01/22
(Maturity
Value
$73,052,958)
BNP
Paribas
Securities
Corp.
(Maturity
Value
$50,363,440)
Deutsche
Bank
Securities,
Inc.
(Maturity
Value
$4,664,431)
HSBC
Securities
(USA),
Inc.
(Maturity
Value
$18,025,087)
Collateralized
by
U.S.
Government
Agency
Securities,
2.5%
-
6%,
6/20/44
-
4/20/52;
and
U.S.
Treasury
Notes,
0.75%
-
3%,
1/31/23
-
4/30/26
(valued
at
$74,560,524)
.........................
73,039,893
73,039,893
Total
Repurchase
Agreements
(Cost
$73,039,893)
...............................
73,039,893
Total
Short
Term
Investments
(Cost
$114,117,547
)
...............................
114,117,547
a
Total
Investments
(Cost
$3,470,594,738)
97.4%
..................................
$3,086,637,671
Other
Assets,
less
Liabilities
2.6%
.............................................
81,232,892
Net
Assets
100.0%
...........................................................
$3,167,870,563
*
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
Fair
valued
using
significant
unobservable
inputs.
See
Note
6
regarding
fair
value
measurements.
c
See
Note
3
regarding
restricted
securities.
d
See
Note
5
regarding
investments
in
affiliated
management
investment
companies.
e
Income
may
be
received
in
additional
securities
and/or
cash.
f
Perpetual
security
with
no
stated
maturity
date.
g
Security
was
purchased
pursuant
to
Rule
144A
or
Regulation
S
under
the
Securities
Act
of
1933.
144A
securities
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.
Regulation
S
securities
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
July
31,
2022,
the
aggregate
value
of
these
securities
was
$1,317,274,527,
representing
41.6%
of
net
assets.
h
The
coupon
rate
shown
represents
the
rate
at
period
end.
i
Defaulted
security
or
security
for
which
income
has
been
deemed
uncollectible.
j
The
coupon
rate
shown
represents
the
rate
inclusive
of
any
caps
or
floors,
if
applicable,
in
effect
at
period
end.
k
See
full
breakdown
of
marketplace
loans
holdings
in
the
table
at
the
end
of
this
schedule.
l
A
supranational
organization
is
an
entity
formed
by
two
or
more
central
governments
through
international
treaties.
m
Principal
amount
of
security
is
adjusted
for
inflation.
See
Note
.
n
Adjustable
rate
security
with
an
interest
rate
that
is
not
based
on
a
published
reference
index
and
spread.
The
rate
is
based
on
the
structure
of
the
agreement
and
current
market
conditions.
The
coupon
rate
shown
represents
the
rate
at
period
end.
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
43
o
Adjustable
Rate
Mortgage-Backed
Security
(ARM);
the
rate
shown
is
the
effective
rate
at
period
end.
ARM
rates
are
not
based
on
a
published
reference
rate
and
spread,
but
instead
pass-through
weighted
average
interest
income
inclusive
of
any
caps
or
floors,
if
applicable,
from
the
underlying
mortgage
loans
in
which
the
majority
of
mortgages
pay
interest
based
on
the
index
shown
at
their
designated
reset
dates
plus
a
spread,
less
the
applicable
servicing
and
guaranty
fee
(MBS
margin).
p
The
rate
shown
is
the
annualized
seven-day
effective
yield
at
period
end.
q
Investment
is
through
participation
in
a
joint
account
with
other
funds
managed
by
the
investment
manager
or
an
affiliate
of
the
investment
manager.
At
July
31,
2022,
all
repurchase
agreements
had
been
entered
into
on
July
29,
2022.
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited),
July
31,
2022
Franklin
Strategic
Income
Fund
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
44
,
At
July
31,
2022,
the
Fund
had
the
following
marketplace
loans
outstanding.
Description
Principal
Amount
Value
Marketplace
Loans
-
2.6%
Block,
Inc.
4570584.SQ.FTS.B,
Zero
Cpn,
3/29/23
...
$
169
$
167
4570588.SQ.FTS.B,
Zero
Cpn,
3/29/23
...
453
442
4570657.SQ.FTS.B,
Zero
Cpn,
3/29/23
...
1,703
1,642
4572288.SQ.FTS.B,
Zero
Cpn,
3/29/23
...
3,533
3,381
4575152.SQ.FTS.B,
Zero
Cpn,
3/30/23
...
733
665
4575169.SQ.FTS.B,
Zero
Cpn,
3/30/23
...
3,362
3,026
4575478.SQ.FTS.B,
Zero
Cpn,
3/30/23
...
523
478
4576331.SQ.FTS.B,
Zero
Cpn,
3/30/23
...
191
163
4577366.SQ.FTS.B,
Zero
Cpn,
3/30/23
...
3,389
3,306
4578581.SQ.FTS.B,
Zero
Cpn,
4/01/23
...
258
245
4578615.SQ.FTS.B,
Zero
Cpn,
4/01/23
...
1,571
1,035
4578678.SQ.FTS.B,
Zero
Cpn,
4/01/23
...
3,185
2,900
4579014.SQ.FTS.B,
Zero
Cpn,
4/01/23
...
1,166
1,129
4579784.SQ.FTS.B,
Zero
Cpn,
4/01/23
...
633
617
4580233.SQ.FTS.B,
Zero
Cpn,
4/01/23
...
1,673
1,188
4581051.SQ.FTS.B,
Zero
Cpn,
4/02/23
...
182
182
4581341.SQ.FTS.B,
Zero
Cpn,
4/02/23
...
17,752
11,286
4581574.SQ.FTS.B,
Zero
Cpn,
4/02/23
...
2,759
764
4581674.SQ.FTS.B,
Zero
Cpn,
4/02/23
...
533
524
4581855.SQ.FTS.B,
Zero
Cpn,
4/03/23
...
526
513
4582359.SQ.FTS.B,
Zero
Cpn,
4/03/23
...
846
652
4583119.SQ.FTS.B,
Zero
Cpn,
4/04/23
...
164
140
4583618.SQ.FTS.B,
Zero
Cpn,
4/04/23
...
974
899
4583666.SQ.FTS.B,
Zero
Cpn,
4/04/23
...
330
324
4583735.SQ.FTS.B,
Zero
Cpn,
4/04/23
...
462
342
4583887.SQ.FTS.B,
Zero
Cpn,
4/04/23
...
685
622
4583983.SQ.FTS.B,
Zero
Cpn,
4/04/23
...
5,557
2,897
4584076.SQ.FTS.B,
Zero
Cpn,
4/04/23
...
1,228
1,047
4584177.SQ.FTS.B,
Zero
Cpn,
4/04/23
...
4,631
4,511
4585288.SQ.FTS.B,
Zero
Cpn,
4/04/23
...
13,554
3,525
4586185.SQ.FTS.B,
Zero
Cpn,
4/04/23
...
3
3
4586755.SQ.FTS.B,
Zero
Cpn,
4/05/23
...
85
79
4587010.SQ.FTS.B,
Zero
Cpn,
4/05/23
...
2,017
1,113
4587209.SQ.FTS.B,
Zero
Cpn,
4/05/23
...
2,764
2,513
4587352.SQ.FTS.B,
Zero
Cpn,
4/05/23
...
1,245
459
4587380.SQ.FTS.B,
Zero
Cpn,
4/05/23
...
1,194
1,125
4588245.SQ.FTS.B,
Zero
Cpn,
4/05/23
...
3,204
2,430
4589702.SQ.FTS.B,
Zero
Cpn,
4/05/23
...
3,489
1,116
4590181.SQ.FTS.B,
Zero
Cpn,
4/05/23
...
3,364
3,236
4590358.SQ.FTS.B,
Zero
Cpn,
4/05/23
...
762
286
4591061.SQ.FTS.B,
Zero
Cpn,
4/06/23
...
20
19
4592914.SQ.FTS.B,
Zero
Cpn,
4/06/23
...
877
860
4593141.SQ.FTS.B,
Zero
Cpn,
4/06/23
...
2,339
2,139
4593809.SQ.FTS.B,
Zero
Cpn,
4/06/23
...
1,483
1,451
4593856.SQ.FTS.B,
Zero
Cpn,
4/06/23
...
2,047
1,966
4597941.SQ.FTS.B,
Zero
Cpn,
4/07/23
...
3,947
3,622
4598182.SQ.FTS.B,
Zero
Cpn,
4/07/23
...
1,281
427
4598741.SQ.FTS.B,
Zero
Cpn,
4/07/23
...
1,120
355
4599898.SQ.FTS.B,
Zero
Cpn,
4/07/23
...
440
415
4602271.SQ.FTS.B,
Zero
Cpn,
4/08/23
...
438
226
4602285.SQ.FTS.B,
Zero
Cpn,
4/08/23
...
31,712
14,012
4604293.SQ.FTS.B,
Zero
Cpn,
4/09/23
...
3,953
3,758
4604615.SQ.FTS.B,
Zero
Cpn,
4/09/23
...
15,766
8,894
4604837.SQ.FTS.B,
Zero
Cpn,
4/09/23
...
2,878
2,072
4604872.SQ.FTS.B,
Zero
Cpn,
4/10/23
...
175
171
4604886.SQ.FTS.B,
Zero
Cpn,
4/10/23
...
2,273
1,055
Description
Principal
Amount
Value
Block,
Inc.
(continued)
4605120.SQ.FTS.B,
Zero
Cpn,
4/10/23
...
$
3,145
$
2,670
4605490.SQ.FTS.B,
Zero
Cpn,
4/10/23
...
3,148
2,429
4605547.SQ.FTS.B,
Zero
Cpn,
4/10/23
...
2,048
1,996
4605766.SQ.FTS.B,
Zero
Cpn,
4/11/23
...
1,660
1,618
4605828.SQ.FTS.B,
Zero
Cpn,
4/11/23
...
617
546
4605898.SQ.FTS.B,
Zero
Cpn,
4/11/23
...
2,175
1,648
4606045.SQ.FTS.B,
Zero
Cpn,
4/11/23
...
1,805
1,696
4606179.SQ.FTS.B,
Zero
Cpn,
4/11/23
...
10,364
1,908
4606219.SQ.FTS.B,
Zero
Cpn,
4/11/23
...
452
263
4606224.SQ.FTS.B,
Zero
Cpn,
4/11/23
...
1,743
1,019
4606319.SQ.FTS.B,
Zero
Cpn,
4/11/23
...
1,580
1,528
4606335.SQ.FTS.B,
Zero
Cpn,
4/11/23
...
2,103
574
4606392.SQ.FTS.B,
Zero
Cpn,
4/11/23
...
254
214
4606464.SQ.FTS.B,
Zero
Cpn,
4/11/23
...
15,674
12,309
4606623.SQ.FTS.B,
Zero
Cpn,
4/11/23
...
72
72
4606780.SQ.FTS.B,
Zero
Cpn,
4/11/23
...
1,694
1,647
4606824.SQ.FTS.B,
Zero
Cpn,
4/11/23
...
1,305
1,282
4606877.SQ.FTS.B,
Zero
Cpn,
4/11/23
...
2,888
1,452
4607071.SQ.FTS.B,
Zero
Cpn,
4/11/23
...
5,204
5,091
4607174.SQ.FTS.B,
Zero
Cpn,
4/11/23
...
517
507
4607515.SQ.FTS.B,
Zero
Cpn,
4/12/23
...
3,562
1,543
4607829.SQ.FTS.B,
Zero
Cpn,
4/12/23
...
385
296
4608765.SQ.FTS.B,
Zero
Cpn,
4/12/23
...
206
202
4608782.SQ.FTS.B,
Zero
Cpn,
4/12/23
...
5,667
5,399
4609188.SQ.FTS.B,
Zero
Cpn,
4/12/23
...
2,098
1,463
4609386.SQ.FTS.B,
Zero
Cpn,
4/12/23
...
1,382
1,352
4609496.SQ.FTS.B,
Zero
Cpn,
4/12/23
...
10,075
6,211
4609551.SQ.FTS.B,
Zero
Cpn,
4/12/23
...
5,454
1,102
4609599.SQ.FTS.B,
Zero
Cpn,
4/12/23
...
973
843
4609610.SQ.FTS.B,
Zero
Cpn,
4/12/23
...
244
236
4609622.SQ.FTS.B,
Zero
Cpn,
4/12/23
...
1,764
1,728
4609715.SQ.FTS.B,
Zero
Cpn,
4/12/23
...
21,611
18,638
4609888.SQ.FTS.B,
Zero
Cpn,
4/12/23
...
3,887
1,359
4609932.SQ.FTS.B,
Zero
Cpn,
4/12/23
...
184
170
4609948.SQ.FTS.B,
Zero
Cpn,
4/12/23
...
3,990
3,855
4610366.SQ.FTS.B,
Zero
Cpn,
4/12/23
...
3,327
2,481
4610443.SQ.FTS.B,
Zero
Cpn,
4/13/23
...
10,147
4,781
4610852.SQ.FTS.B,
Zero
Cpn,
4/13/23
...
383
167
4612120.SQ.FTS.B,
Zero
Cpn,
4/13/23
...
6,621
3,502
4612400.SQ.FTS.B,
Zero
Cpn,
4/13/23
...
3,346
3,277
4612920.SQ.FTS.B,
Zero
Cpn,
4/13/23
...
2,172
645
4612947.SQ.FTS.B,
Zero
Cpn,
4/13/23
...
811
754
4618113.SQ.FTS.B,
Zero
Cpn,
4/14/23
...
2,884
2,818
4618453.SQ.FTS.B,
Zero
Cpn,
4/14/23
...
694
673
4621133.SQ.FTS.B,
Zero
Cpn,
4/15/23
...
13,986
11,763
4621989.SQ.FTS.B,
Zero
Cpn,
4/15/23
...
552
512
4622639.SQ.FTS.B,
Zero
Cpn,
4/15/23
...
3,183
1,867
4623345.SQ.FTS.B,
Zero
Cpn,
4/15/23
...
575
503
4623745.SQ.FTS.B,
Zero
Cpn,
4/16/23
...
818
804
4623863.SQ.FTS.B,
Zero
Cpn,
4/16/23
...
8,535
7,179
4623923.SQ.FTS.B,
Zero
Cpn,
4/16/23
...
2,066
2,006
4624002.SQ.FTS.B,
Zero
Cpn,
4/16/23
...
575
459
4624011.SQ.FTS.B,
Zero
Cpn,
4/16/23
...
502
388
4624036.SQ.FTS.B,
Zero
Cpn,
4/16/23
...
1,097
1,068
4624059.SQ.FTS.B,
Zero
Cpn,
4/16/23
...
22
21
4624325.SQ.FTS.B,
Zero
Cpn,
4/16/23
...
4,811
2,775
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
45
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
4624345.SQ.FTS.B,
Zero
Cpn,
4/16/23
...
$
1,207
$
1,181
4624403.SQ.FTS.B,
Zero
Cpn,
4/17/23
...
652
126
4624408.SQ.FTS.B,
Zero
Cpn,
4/17/23
...
266
254
4624673.SQ.FTS.B,
Zero
Cpn,
4/17/23
...
2,967
2,906
4624869.SQ.FTS.B,
Zero
Cpn,
4/17/23
...
1,786
960
4624932.SQ.FTS.B,
Zero
Cpn,
4/17/23
...
2,289
1,738
4624958.SQ.FTS.B,
Zero
Cpn,
4/17/23
...
665
649
4625054.SQ.FTS.B,
Zero
Cpn,
4/17/23
...
1,749
866
4625063.SQ.FTS.B,
Zero
Cpn,
4/17/23
...
689
620
4625082.SQ.FTS.B,
Zero
Cpn,
4/17/23
...
4,704
4,364
4625127.SQ.FTS.B,
Zero
Cpn,
4/17/23
...
1,930
1,560
4625629.SQ.FTS.B,
Zero
Cpn,
4/18/23
...
3,467
2,060
4625798.SQ.FTS.B,
Zero
Cpn,
4/18/23
...
1,154
599
4625813.SQ.FTS.B,
Zero
Cpn,
4/18/23
...
770
757
4626298.SQ.FTS.B,
Zero
Cpn,
4/18/23
...
10,268
1,975
4626510.SQ.FTS.B,
Zero
Cpn,
4/18/23
...
500
323
4626514.SQ.FTS.B,
Zero
Cpn,
4/18/23
...
2,949
2,747
4626787.SQ.FTS.B,
Zero
Cpn,
4/18/23
...
80
78
4627247.SQ.FTS.B,
Zero
Cpn,
4/18/23
...
693
684
4627586.SQ.FTS.B,
Zero
Cpn,
4/18/23
...
4,624
2,176
4629149.SQ.FTS.B,
Zero
Cpn,
4/19/23
...
6,472
4,528
4629254.SQ.FTS.B,
Zero
Cpn,
4/19/23
...
2,067
1,769
4630127.SQ.FTS.B,
Zero
Cpn,
4/19/23
...
738
701
4630153.SQ.FTS.B,
Zero
Cpn,
4/19/23
...
2,913
2,863
4630530.SQ.FTS.B,
Zero
Cpn,
4/19/23
...
279
271
4631135.SQ.FTS.B,
Zero
Cpn,
4/20/23
...
3,289
3,134
4631381.SQ.FTS.B,
Zero
Cpn,
4/20/23
...
536
523
4631402.SQ.FTS.B,
Zero
Cpn,
4/20/23
...
2,668
2,160
4632065.SQ.FTS.B,
Zero
Cpn,
4/20/23
...
1,642
1,585
4632162.SQ.FTS.B,
Zero
Cpn,
4/20/23
...
944
880
4632596.SQ.FTS.B,
Zero
Cpn,
4/20/23
...
848
526
4632880.SQ.FTS.B,
Zero
Cpn,
4/20/23
...
964
869
4634735.SQ.FTS.B,
Zero
Cpn,
4/21/23
...
367
357
4635753.SQ.FTS.B,
Zero
Cpn,
4/21/23
...
11,139
10,592
4636668.SQ.FTS.B,
Zero
Cpn,
4/21/23
...
10,189
4,434
4636852.SQ.FTS.B,
Zero
Cpn,
4/21/23
...
111
109
4636968.SQ.FTS.B,
Zero
Cpn,
4/21/23
...
2,327
1,858
4637234.SQ.FTS.B,
Zero
Cpn,
4/22/23
...
730
659
4637528.SQ.FTS.B,
Zero
Cpn,
4/22/23
...
763
738
4638157.SQ.FTS.B,
Zero
Cpn,
4/22/23
...
2,087
1,237
4638292.SQ.FTS.B,
Zero
Cpn,
4/22/23
...
3,196
2,237
4638466.SQ.FTS.B,
Zero
Cpn,
4/22/23
...
8,714
8,290
4639008.SQ.FTS.B,
Zero
Cpn,
4/22/23
...
9,190
9,016
4639894.SQ.FTS.B,
Zero
Cpn,
4/23/23
...
1,167
1,133
4640163.SQ.FTS.B,
Zero
Cpn,
4/23/23
...
2,849
2,573
4640311.SQ.FTS.B,
Zero
Cpn,
4/24/23
...
4,351
4,257
4640710.SQ.FTS.B,
Zero
Cpn,
4/24/23
...
518
475
4640963.SQ.FTS.B,
Zero
Cpn,
4/25/23
...
4,740
4,180
4640975.SQ.FTS.B,
Zero
Cpn,
4/25/23
...
2,256
2,215
4641713.SQ.FTS.B,
Zero
Cpn,
4/25/23
...
5,317
3,286
4642502.SQ.FTS.B,
Zero
Cpn,
4/25/23
...
2,034
965
4642522.SQ.FTS.B,
Zero
Cpn,
4/25/23
...
2,473
2,359
4643448.SQ.FTS.B,
Zero
Cpn,
4/25/23
...
343
226
4643723.SQ.FTS.B,
Zero
Cpn,
4/25/23
...
3,967
3,690
4643970.SQ.FTS.B,
Zero
Cpn,
4/26/23
...
2,181
1,243
4644490.SQ.FTS.B,
Zero
Cpn,
4/26/23
...
3,008
2,947
4645336.SQ.FTS.B,
Zero
Cpn,
4/26/23
...
506
497
4645715.SQ.FTS.B,
Zero
Cpn,
4/26/23
...
26,665
25,360
Description
Principal
Amount
Value
Block,
Inc.
(continued)
4650965.SQ.FTS.B,
Zero
Cpn,
4/28/23
...
$
190
$
184
4651011.SQ.FTS.B,
Zero
Cpn,
4/28/23
...
3,770
3,656
4651624.SQ.FTS.B,
Zero
Cpn,
4/28/23
...
1,016
997
4651931.SQ.FTS.B,
Zero
Cpn,
4/28/23
...
249
201
4653214.SQ.FTS.B,
Zero
Cpn,
4/28/23
...
851
834
4653702.SQ.FTS.B,
Zero
Cpn,
4/28/23
...
380
364
4653714.SQ.FTS.B,
Zero
Cpn,
4/28/23
...
658
614
4654183.SQ.FTS.B,
Zero
Cpn,
4/29/23
...
1,028
1,005
4654291.SQ.FTS.B,
Zero
Cpn,
4/29/23
...
133
114
4655034.SQ.FTS.B,
Zero
Cpn,
4/29/23
...
505
435
4656066.SQ.FTS.B,
Zero
Cpn,
4/29/23
...
713
501
4656520.SQ.FTS.B,
Zero
Cpn,
4/29/23
...
1,425
1,393
4656885.SQ.FTS.B,
Zero
Cpn,
4/30/23
...
738
374
4656958.SQ.FTS.B,
Zero
Cpn,
4/30/23
...
3,627
1,250
4657195.SQ.FTS.B,
Zero
Cpn,
4/30/23
...
468
435
4657235.SQ.FTS.B,
Zero
Cpn,
4/30/23
...
3,505
2,716
4657373.SQ.FTS.B,
Zero
Cpn,
4/30/23
...
3,122
1,724
4657502.SQ.FTS.B,
Zero
Cpn,
4/30/23
...
833
478
4658038.SQ.FTS.B,
Zero
Cpn,
5/01/23
...
3,730
2,593
4658320.SQ.FTS.B,
Zero
Cpn,
5/01/23
...
6,610
2,338
4658898.SQ.FTS.B,
Zero
Cpn,
5/01/23
...
6,911
6,705
4659810.SQ.FTS.B,
Zero
Cpn,
5/01/23
...
1,255
1,150
4659969.SQ.FTS.B,
Zero
Cpn,
5/01/23
...
2,286
1,655
4659990.SQ.FTS.B,
Zero
Cpn,
5/01/23
...
4,032
3,926
4660412.SQ.FTS.B,
Zero
Cpn,
5/01/23
...
7,805
7,658
4661015.SQ.FTS.B,
Zero
Cpn,
5/01/23
...
2,622
2,080
4661122.SQ.FTS.B,
Zero
Cpn,
5/02/23
...
702
672
4661890.SQ.FTS.B,
Zero
Cpn,
5/02/23
...
3,386
1,220
4662158.SQ.FTS.B,
Zero
Cpn,
5/02/23
...
511
465
4662184.SQ.FTS.B,
Zero
Cpn,
5/02/23
...
3,219
2,334
4662309.SQ.FTS.B,
Zero
Cpn,
5/02/23
...
19,083
12,914
4662672.SQ.FTS.B,
Zero
Cpn,
5/02/23
...
3,870
2,762
4662868.SQ.FTS.B,
Zero
Cpn,
5/02/23
...
3,122
2,772
4662910.SQ.FTS.B,
Zero
Cpn,
5/02/23
...
2,241
1,634
4663096.SQ.FTS.B,
Zero
Cpn,
5/02/23
...
27,120
12,444
4663347.SQ.FTS.B,
Zero
Cpn,
5/02/23
...
3,455
3,037
4663916.SQ.FTS.B,
Zero
Cpn,
5/02/23
...
24,742
11,354
4665676.SQ.FTS.B,
Zero
Cpn,
5/03/23
...
4,464
2,870
4666114.SQ.FTS.B,
Zero
Cpn,
5/03/23
...
793
681
4666154.SQ.FTS.B,
Zero
Cpn,
5/03/23
...
4,902
3,918
4666752.SQ.FTS.B,
Zero
Cpn,
5/03/23
...
1,839
1,756
4668726.SQ.FTS.B,
Zero
Cpn,
5/04/23
...
694
680
4670809.SQ.FTS.B,
Zero
Cpn,
5/04/23
...
2,895
2,771
4670988.SQ.FTS.B,
Zero
Cpn,
5/04/23
...
1,207
1,175
4671121.SQ.FTS.B,
Zero
Cpn,
5/04/23
...
6,606
2,769
4671597.SQ.FTS.B,
Zero
Cpn,
5/04/23
...
1,232
1,211
4674453.SQ.FTS.B,
Zero
Cpn,
5/05/23
...
197
193
4675799.SQ.FTS.B,
Zero
Cpn,
5/05/23
...
3,286
1,099
4676126.SQ.FTS.B,
Zero
Cpn,
5/05/23
...
3,037
2,850
4677625.SQ.FTS.B,
Zero
Cpn,
5/06/23
...
633
594
4677655.SQ.FTS.B,
Zero
Cpn,
5/06/23
...
4,573
1,792
4677749.SQ.FTS.B,
Zero
Cpn,
5/06/23
...
302
105
4677833.SQ.FTS.B,
Zero
Cpn,
5/06/23
...
2,608
2,529
4677893.SQ.FTS.B,
Zero
Cpn,
5/06/23
...
2,351
1,038
4678195.SQ.FTS.B,
Zero
Cpn,
5/07/23
...
406
394
4678277.SQ.FTS.B,
Zero
Cpn,
5/07/23
...
1,295
1,141
4678440.SQ.FTS.B,
Zero
Cpn,
5/07/23
...
286
278
4678504.SQ.FTS.B,
Zero
Cpn,
5/07/23
...
596
585
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
46
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
4678549.SQ.FTS.B,
Zero
Cpn,
5/07/23
...
$
2,102
$
2,040
4681076.SQ.FTS.B,
Zero
Cpn,
5/08/23
...
3,665
3,521
4681277.SQ.FTS.B,
Zero
Cpn,
5/08/23
...
249
235
4681873.SQ.FTS.B,
Zero
Cpn,
5/08/23
...
670
658
4682013.SQ.FTS.B,
Zero
Cpn,
5/08/23
...
2,377
2,284
4682763.SQ.FTS.B,
Zero
Cpn,
5/08/23
...
867
851
4682911.SQ.FTS.B,
Zero
Cpn,
5/08/23
...
1,103
1,074
4682982.SQ.FTS.B,
Zero
Cpn,
5/08/23
...
242
238
4683430.SQ.FTS.B,
Zero
Cpn,
5/08/23
...
442
432
4684185.SQ.FTS.B,
Zero
Cpn,
5/08/23
...
732
673
4684424.SQ.FTS.B,
Zero
Cpn,
5/08/23
...
675
662
4689630.SQ.FTS.B,
Zero
Cpn,
5/09/23
...
392
286
4689690.SQ.FTS.B,
Zero
Cpn,
5/09/23
...
62
61
4690049.SQ.FTS.B,
Zero
Cpn,
5/09/23
...
854
756
4691442.SQ.FTS.B,
Zero
Cpn,
5/09/23
...
1,108
1,089
4691756.SQ.FTS.B,
Zero
Cpn,
5/09/23
...
7,269
2,411
4692191.SQ.FTS.B,
Zero
Cpn,
5/09/23
...
10,358
8,338
4692510.SQ.FTS.B,
Zero
Cpn,
5/09/23
...
417
409
4692628.SQ.FTS.B,
Zero
Cpn,
5/09/23
...
1,610
818
4692642.SQ.FTS.B,
Zero
Cpn,
5/09/23
...
3,292
2,625
4692944.SQ.FTS.B,
Zero
Cpn,
5/09/23
...
264
214
4692982.SQ.FTS.B,
Zero
Cpn,
5/09/23
...
706
357
4693038.SQ.FTS.B,
Zero
Cpn,
5/09/23
...
765
747
4693423.SQ.FTS.B,
Zero
Cpn,
5/09/23
...
17,305
12,900
4693941.SQ.FTS.B,
Zero
Cpn,
5/09/23
...
9,413
4,772
4694140.SQ.FTS.B,
Zero
Cpn,
5/09/23
...
1,320
1,026
4694200.SQ.FTS.B,
Zero
Cpn,
5/09/23
...
1,224
732
4694295.SQ.FTS.B,
Zero
Cpn,
5/09/23
...
129
127
4701939.SQ.FTS.B,
Zero
Cpn,
5/10/23
...
1,446
1,335
4702569.SQ.FTS.B,
Zero
Cpn,
5/10/23
...
3,408
3,210
4704915.SQ.FTS.B,
Zero
Cpn,
5/10/23
...
12,358
11,061
4706235.SQ.FTS.B,
Zero
Cpn,
5/10/23
...
5,341
3,991
4706450.SQ.FTS.B,
Zero
Cpn,
5/10/23
...
6,009
5,560
4706756.SQ.FTS.B,
Zero
Cpn,
5/10/23
...
1,124
899
4706808.SQ.FTS.B,
Zero
Cpn,
5/10/23
...
5,406
4,369
4707047.SQ.FTS.B,
Zero
Cpn,
5/10/23
...
5,757
5,623
4707232.SQ.FTS.B,
Zero
Cpn,
5/11/23
...
439
322
4707248.SQ.FTS.B,
Zero
Cpn,
5/11/23
...
773
686
4707269.SQ.FTS.B,
Zero
Cpn,
5/11/23
...
1,198
1,148
4707305.SQ.FTS.B,
Zero
Cpn,
5/11/23
...
1,636
1,595
4707334.SQ.FTS.B,
Zero
Cpn,
5/11/23
...
3,654
3,549
4707494.SQ.FTS.B,
Zero
Cpn,
5/11/23
...
1,320
1,249
4707511.SQ.FTS.B,
Zero
Cpn,
5/11/23
...
5,351
4,529
4707638.SQ.FTS.B,
Zero
Cpn,
5/11/23
...
532
513
4707810.SQ.FTS.B,
Zero
Cpn,
5/11/23
...
88
82
4708881.SQ.FTS.B,
Zero
Cpn,
5/12/23
...
6,602
5,785
4711828.SQ.FTS.B,
Zero
Cpn,
5/12/23
...
8,277
5,614
4712429.SQ.FTS.B,
Zero
Cpn,
5/12/23
...
7,713
7,514
4713443.SQ.FTS.B,
Zero
Cpn,
5/12/23
...
511
494
4713461.SQ.FTS.B,
Zero
Cpn,
5/13/23
...
569
203
4713785.SQ.FTS.B,
Zero
Cpn,
5/13/23
...
2,910
2,853
4714060.SQ.FTS.B,
Zero
Cpn,
5/13/23
...
1,221
832
4714469.SQ.FTS.B,
Zero
Cpn,
5/14/23
...
828
160
4714510.SQ.FTS.B,
Zero
Cpn,
5/14/23
...
1,925
1,850
4714589.SQ.FTS.B,
Zero
Cpn,
5/14/23
...
7,160
7,000
4716941.SQ.FTS.B,
Zero
Cpn,
5/15/23
...
2,930
2,843
4717504.SQ.FTS.B,
Zero
Cpn,
5/15/23
...
272
268
4719282.SQ.FTS.B,
Zero
Cpn,
5/15/23
...
384
363
Description
Principal
Amount
Value
Block,
Inc.
(continued)
4720097.SQ.FTS.B,
Zero
Cpn,
5/16/23
...
$
440
$
374
4723373.SQ.FTS.B,
Zero
Cpn,
5/16/23
...
1,332
1,285
4723682.SQ.FTS.B,
Zero
Cpn,
5/16/23
...
326
321
4723979.SQ.FTS.B,
Zero
Cpn,
5/16/23
...
3,392
3,266
4725500.SQ.FTS.B,
Zero
Cpn,
5/17/23
...
196
193
4728338.SQ.FTS.B,
Zero
Cpn,
5/17/23
...
3,592
3,404
4728592.SQ.FTS.B,
Zero
Cpn,
5/17/23
...
448
423
4729437.SQ.FTS.B,
Zero
Cpn,
5/17/23
...
2,938
2,482
4738688.SQ.FTS.B,
Zero
Cpn,
5/18/23
...
1,355
1,034
4738753.SQ.FTS.B,
Zero
Cpn,
5/18/23
...
9,615
4,093
4740841.SQ.FTS.B,
Zero
Cpn,
5/18/23
...
7,138
4,025
4741312.SQ.FTS.B,
Zero
Cpn,
5/18/23
...
6,453
4,145
4744249.SQ.FTS.B,
Zero
Cpn,
5/18/23
...
3,330
3,237
4744976.SQ.FTS.B,
Zero
Cpn,
5/19/23
...
339
332
4745172.SQ.FTS.B,
Zero
Cpn,
5/19/23
...
3,520
3,455
4747188.SQ.FTS.B,
Zero
Cpn,
5/19/23
...
553
296
4747344.SQ.FTS.B,
Zero
Cpn,
5/19/23
...
1,101
1,079
4750103.SQ.FTS.B,
Zero
Cpn,
5/20/23
...
8,831
7,669
4750298.SQ.FTS.B,
Zero
Cpn,
5/20/23
...
2,234
2,114
4750803.SQ.FTS.B,
Zero
Cpn,
5/21/23
...
3,382
3,207
4751209.SQ.FTS.B,
Zero
Cpn,
5/21/23
...
24
23
4751536.SQ.FTS.B,
Zero
Cpn,
5/21/23
...
349
340
4751578.SQ.FTS.B,
Zero
Cpn,
5/21/23
...
1,774
1,736
4752128.SQ.FTS.B,
Zero
Cpn,
5/22/23
...
6,979
6,797
4754132.SQ.FTS.B,
Zero
Cpn,
5/22/23
...
2,569
2,492
4754491.SQ.FTS.B,
Zero
Cpn,
5/22/23
...
281
265
4754787.SQ.FTS.B,
Zero
Cpn,
5/22/23
...
2,461
2,396
4755231.SQ.FTS.B,
Zero
Cpn,
5/22/23
...
662
647
4755278.SQ.FTS.B,
Zero
Cpn,
5/22/23
...
6,897
6,766
4756371.SQ.FTS.B,
Zero
Cpn,
5/22/23
...
67
66
4756554.SQ.FTS.B,
Zero
Cpn,
5/22/23
...
1,889
1,822
4756608.SQ.FTS.B,
Zero
Cpn,
5/22/23
...
11,388
7,079
4761374.SQ.FTS.B,
Zero
Cpn,
5/23/23
...
187
132
4764456.SQ.FTS.B,
Zero
Cpn,
5/23/23
...
1,563
1,509
4764584.SQ.FTS.B,
Zero
Cpn,
5/23/23
...
523
466
4773604.SQ.FTS.B,
Zero
Cpn,
5/24/23
...
9,605
4,859
4773759.SQ.FTS.B,
Zero
Cpn,
5/24/23
...
540
324
4774144.SQ.FTS.B,
Zero
Cpn,
5/24/23
...
2,225
1,614
4776334.SQ.FTS.B,
Zero
Cpn,
5/24/23
...
13,503
13,178
4777755.SQ.FTS.B,
Zero
Cpn,
5/24/23
...
655
164
4777853.SQ.FTS.B,
Zero
Cpn,
5/24/23
...
2,182
1,595
4777946.SQ.FTS.B,
Zero
Cpn,
5/24/23
...
4,195
3,845
4778622.SQ.FTS.B,
Zero
Cpn,
5/24/23
...
6,853
6,403
4778859.SQ.FTS.B,
Zero
Cpn,
5/24/23
...
1,797
1,756
4779254.SQ.FTS.B,
Zero
Cpn,
5/25/23
...
293
288
4779439.SQ.FTS.B,
Zero
Cpn,
5/25/23
...
1,581
632
4779581.SQ.FTS.B,
Zero
Cpn,
5/25/23
...
484
458
4779593.SQ.FTS.B,
Zero
Cpn,
5/25/23
...
2,903
2,753
4779678.SQ.FTS.B,
Zero
Cpn,
5/25/23
...
5,301
3,522
4782528.SQ.FTS.B,
Zero
Cpn,
5/26/23
...
538
363
4782831.SQ.FTS.B,
Zero
Cpn,
5/26/23
...
2,819
2,751
4783667.SQ.FTS.B,
Zero
Cpn,
5/26/23
...
9,302
8,972
4784665.SQ.FTS.B,
Zero
Cpn,
5/26/23
...
1,180
1,146
4785272.SQ.FTS.B,
Zero
Cpn,
5/27/23
...
1,299
1,270
4785399.SQ.FTS.B,
Zero
Cpn,
5/27/23
...
345
255
4785480.SQ.FTS.B,
Zero
Cpn,
5/27/23
...
71
69
4785485.SQ.FTS.B,
Zero
Cpn,
5/27/23
...
1,901
1,807
4785742.SQ.FTS.B,
Zero
Cpn,
5/27/23
...
4,997
4,814
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
47
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
4786029.SQ.FTS.B,
Zero
Cpn,
5/28/23
...
$
6,117
$
5,950
4786214.SQ.FTS.B,
Zero
Cpn,
5/28/23
...
1,844
703
4786395.SQ.FTS.B,
Zero
Cpn,
5/28/23
...
1,709
1,373
4788373.SQ.FTS.B,
Zero
Cpn,
5/29/23
...
9,415
8,442
4789370.SQ.FTS.B,
Zero
Cpn,
5/29/23
...
11,262
9,917
4790186.SQ.FTS.B,
Zero
Cpn,
5/29/23
...
3,294
3,230
4790581.SQ.FTS.B,
Zero
Cpn,
5/29/23
...
167
164
4790824.SQ.FTS.B,
Zero
Cpn,
5/29/23
...
3,330
2,289
4790895.SQ.FTS.B,
Zero
Cpn,
5/29/23
...
667
650
4791065.SQ.FTS.B,
Zero
Cpn,
5/29/23
...
1,150
1,129
4791505.SQ.FTS.B,
Zero
Cpn,
5/29/23
...
5,210
5,095
4792640.SQ.FTS.B,
Zero
Cpn,
5/30/23
...
2,121
1,956
4792733.SQ.FTS.B,
Zero
Cpn,
5/30/23
...
3,198
2,892
4792978.SQ.FTS.B,
Zero
Cpn,
5/30/23
...
2,454
1,628
4793886.SQ.FTS.B,
Zero
Cpn,
5/30/23
...
6,647
6,150
4794315.SQ.FTS.B,
Zero
Cpn,
5/30/23
...
7,745
7,291
4794760.SQ.FTS.B,
Zero
Cpn,
5/30/23
...
12,626
12,086
4795424.SQ.FTS.B,
Zero
Cpn,
5/30/23
...
27,372
25,753
4796420.SQ.FTS.B,
Zero
Cpn,
5/30/23
...
149
146
4796452.SQ.FTS.B,
Zero
Cpn,
5/30/23
...
3,944
3,404
4796651.SQ.FTS.B,
Zero
Cpn,
6/01/23
...
3,524
1,557
4796735.SQ.FTS.B,
Zero
Cpn,
6/01/23
...
255
216
4797373.SQ.FTS.B,
Zero
Cpn,
6/01/23
...
742
725
4797629.SQ.FTS.B,
Zero
Cpn,
6/01/23
...
1,343
1,312
4798801.SQ.FTS.B,
Zero
Cpn,
6/01/23
...
2,537
2,167
4798843.SQ.FTS.B,
Zero
Cpn,
6/01/23
...
6,822
5,296
4799719.SQ.FTS.B,
Zero
Cpn,
6/01/23
...
1,998
1,905
4800609.SQ.FTS.B,
Zero
Cpn,
6/01/23
...
2,909
2,451
4805441.SQ.FTS.B,
Zero
Cpn,
6/02/23
...
2,979
2,929
4805905.SQ.FTS.B,
Zero
Cpn,
6/02/23
...
12,016
11,771
4807333.SQ.FTS.B,
Zero
Cpn,
6/02/23
...
1,358
1,303
4807696.SQ.FTS.B,
Zero
Cpn,
6/02/23
...
6,457
6,299
4807880.SQ.FTS.B,
Zero
Cpn,
6/02/23
...
20,462
17,402
4808228.SQ.FTS.B,
Zero
Cpn,
6/02/23
...
1,238
1,201
4808500.SQ.FTS.B,
Zero
Cpn,
6/02/23
...
26,591
25,741
4809331.SQ.FTS.B,
Zero
Cpn,
6/02/23
...
4,888
4,774
4809479.SQ.FTS.B,
Zero
Cpn,
6/02/23
...
270
235
4809630.SQ.FTS.B,
Zero
Cpn,
6/02/23
...
1,405
1,370
4809687.SQ.FTS.B,
Zero
Cpn,
6/02/23
...
6,684
6,353
4809776.SQ.FTS.B,
Zero
Cpn,
6/02/23
...
788
772
4809809.SQ.FTS.B,
Zero
Cpn,
6/02/23
...
357
322
4809840.SQ.FTS.B,
Zero
Cpn,
6/02/23
...
1,198
1,082
4810075.SQ.FTS.B,
Zero
Cpn,
6/03/23
...
3,001
2,856
4810261.SQ.FTS.B,
Zero
Cpn,
6/03/23
...
460
451
4810965.SQ.FTS.B,
Zero
Cpn,
6/03/23
...
144
142
4811176.SQ.FTS.B,
Zero
Cpn,
6/03/23
...
11,311
10,671
4811763.SQ.FTS.B,
Zero
Cpn,
6/03/23
...
4,880
4,777
4812102.SQ.FTS.B,
Zero
Cpn,
6/03/23
...
15,434
15,062
4812700.SQ.FTS.B,
Zero
Cpn,
6/03/23
...
127
125
4812787.SQ.FTS.B,
Zero
Cpn,
6/03/23
...
3,424
3,100
4813108.SQ.FTS.B,
Zero
Cpn,
6/03/23
...
1,691
1,630
4813154.SQ.FTS.B,
Zero
Cpn,
6/03/23
...
829
802
4813165.SQ.FTS.B,
Zero
Cpn,
6/03/23
...
943
927
4813191.SQ.FTS.B,
Zero
Cpn,
6/03/23
...
2,375
2,323
4813403.SQ.FTS.B,
Zero
Cpn,
6/03/23
...
6,430
5,960
4813693.SQ.FTS.B,
Zero
Cpn,
6/03/23
...
327
320
4814188.SQ.FTS.B,
Zero
Cpn,
6/03/23
...
1,176
1,043
4814403.SQ.FTS.B,
Zero
Cpn,
6/04/23
...
14,422
13,334
Description
Principal
Amount
Value
Block,
Inc.
(continued)
4814649.SQ.FTS.B,
Zero
Cpn,
6/04/23
...
$
1,749
$
1,654
4815062.SQ.FTS.B,
Zero
Cpn,
6/04/23
...
19,208
12,347
4815359.SQ.FTS.B,
Zero
Cpn,
6/05/23
...
864
848
4815440.SQ.FTS.B,
Zero
Cpn,
6/05/23
...
1,653
1,625
4815592.SQ.FTS.B,
Zero
Cpn,
6/05/23
...
963
938
4815617.SQ.FTS.B,
Zero
Cpn,
6/05/23
...
1,642
1,145
4815646.SQ.FTS.B,
Zero
Cpn,
6/05/23
...
5,300
5,161
4815836.SQ.FTS.B,
Zero
Cpn,
6/05/23
...
11,188
9,927
4816871.SQ.FTS.B,
Zero
Cpn,
6/06/23
...
1,341
1,073
4817230.SQ.FTS.B,
Zero
Cpn,
6/06/23
...
258
230
4817325.SQ.FTS.B,
Zero
Cpn,
6/06/23
...
1,695
1,655
4817415.SQ.FTS.B,
Zero
Cpn,
6/06/23
...
439
417
4817437.SQ.FTS.B,
Zero
Cpn,
6/06/23
...
2,001
1,701
4817602.SQ.FTS.B,
Zero
Cpn,
6/06/23
...
2,725
2,600
4818787.SQ.FTS.B,
Zero
Cpn,
6/06/23
...
99
97
4818874.SQ.FTS.B,
Zero
Cpn,
6/06/23
...
204
198
4819144.SQ.FTS.B,
Zero
Cpn,
6/07/23
...
1,389
1,349
4819343.SQ.FTS.B,
Zero
Cpn,
6/07/23
...
13,335
12,907
4819735.SQ.FTS.B,
Zero
Cpn,
6/07/23
...
16,343
15,960
4820001.SQ.FTS.B,
Zero
Cpn,
6/07/23
...
781
759
4820067.SQ.FTS.B,
Zero
Cpn,
6/07/23
...
136
128
4820091.SQ.FTS.B,
Zero
Cpn,
6/07/23
...
4,633
3,610
4820170.SQ.FTS.B,
Zero
Cpn,
6/07/23
...
468
442
4820180.SQ.FTS.B,
Zero
Cpn,
6/07/23
...
1,695
1,591
4820198.SQ.FTS.B,
Zero
Cpn,
6/07/23
...
499
449
4820503.SQ.FTS.B,
Zero
Cpn,
6/07/23
...
2,562
2,498
4820553.SQ.FTS.B,
Zero
Cpn,
6/07/23
...
10,164
3,570
4820586.SQ.FTS.B,
Zero
Cpn,
6/07/23
...
238
233
4820754.SQ.FTS.B,
Zero
Cpn,
6/07/23
...
199
195
4821209.SQ.FTS.B,
Zero
Cpn,
6/07/23
...
1,133
1,099
4821505.SQ.FTS.B,
Zero
Cpn,
6/08/23
...
288
273
4821574.SQ.FTS.B,
Zero
Cpn,
6/08/23
...
411
405
4821715.SQ.FTS.B,
Zero
Cpn,
6/08/23
...
1,167
1,132
4821729.SQ.FTS.B,
Zero
Cpn,
6/08/23
...
1,187
1,157
4821742.SQ.FTS.B,
Zero
Cpn,
6/08/23
...
2,457
2,382
4821771.SQ.FTS.B,
Zero
Cpn,
6/08/23
...
1,879
1,775
4821781.SQ.FTS.B,
Zero
Cpn,
6/08/23
...
3,237
2,868
4821801.SQ.FTS.B,
Zero
Cpn,
6/08/23
...
4,020
3,815
4821846.SQ.FTS.B,
Zero
Cpn,
6/08/23
...
553
522
4821904.SQ.FTS.B,
Zero
Cpn,
6/08/23
...
796
208
4821908.SQ.FTS.B,
Zero
Cpn,
6/08/23
...
777
578
4822042.SQ.FTS.B,
Zero
Cpn,
6/08/23
...
124
122
4822221.SQ.FTS.B,
Zero
Cpn,
6/08/23
...
4,818
4,135
4822253.SQ.FTS.B,
Zero
Cpn,
6/08/23
...
3,813
2,936
4822339.SQ.FTS.B,
Zero
Cpn,
6/08/23
...
1,486
1,446
4822413.SQ.FTS.B,
Zero
Cpn,
6/08/23
...
17,598
17,117
4823019.SQ.FTS.B,
Zero
Cpn,
6/08/23
...
2,003
1,881
4827297.SQ.FTS.B,
Zero
Cpn,
6/09/23
...
2,068
1,939
4827316.SQ.FTS.B,
Zero
Cpn,
6/09/23
...
530
519
4829216.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
19,001
18,080
4830294.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
1,924
1,649
4830320.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
5,082
4,844
4830376.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
1,025
1,001
4830439.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
1,923
1,874
4830468.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
5,540
5,406
4830640.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
1,573
1,487
4830906.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
2,849
2,296
4830931.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
346
263
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
48
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
4830936.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
$
3,288
$
3,179
4831001.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
3,083
2,964
4831110.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
1,057
612
4831145.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
2,478
2,417
4831201.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
9,580
7,347
4831269.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
3,481
2,253
4831353.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
8,035
5,355
4831418.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
3,289
3,210
4831466.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
400
389
4831475.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
1,759
1,711
4831508.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
1,696
1,654
4831650.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
1,075
964
4831653.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
2,099
1,154
4831675.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
2,008
1,863
4831721.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
3,146
2,839
4831746.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
792
678
4831772.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
4,643
4,538
4831889.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
110
108
4831910.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
3,573
3,482
4831986.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
11,771
9,473
4832097.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
625
613
4832127.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
1,920
1,702
4832278.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
159
151
4832297.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
1,445
1,343
4832424.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
667
653
4832448.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
4,533
4,437
4832548.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
11,334
4,491
4832628.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
1,881
1,830
4832815.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
555
542
4832932.SQ.FTS.B,
Zero
Cpn,
6/10/23
...
15,304
14,889
4833494.SQ.FTS.B,
Zero
Cpn,
6/11/23
...
1,542
1,467
4833520.SQ.FTS.B,
Zero
Cpn,
6/11/23
...
5,332
3,041
4833576.SQ.FTS.B,
Zero
Cpn,
6/11/23
...
1,509
1,473
4833828.SQ.FTS.B,
Zero
Cpn,
6/11/23
...
881
863
4834054.SQ.FTS.B,
Zero
Cpn,
6/12/23
...
1,362
1,108
4834162.SQ.FTS.B,
Zero
Cpn,
6/12/23
...
559
425
4834187.SQ.FTS.B,
Zero
Cpn,
6/12/23
...
1,616
1,577
4834220.SQ.FTS.B,
Zero
Cpn,
6/12/23
...
1,170
975
4836387.SQ.FTS.B,
Zero
Cpn,
6/13/23
...
175
166
4836543.SQ.FTS.B,
Zero
Cpn,
6/13/23
...
1,392
1,368
4836839.SQ.FTS.B,
Zero
Cpn,
6/13/23
...
996
970
4837127.SQ.FTS.B,
Zero
Cpn,
6/13/23
...
17,006
15,180
4837490.SQ.FTS.B,
Zero
Cpn,
6/13/23
...
3,636
3,534
4837601.SQ.FTS.B,
Zero
Cpn,
6/13/23
...
11,162
9,842
4837849.SQ.FTS.B,
Zero
Cpn,
6/13/23
...
2,188
2,125
4837910.SQ.FTS.B,
Zero
Cpn,
6/14/23
...
20,435
19,659
4838261.SQ.FTS.B,
Zero
Cpn,
6/14/23
...
2,036
1,616
4838333.SQ.FTS.B,
Zero
Cpn,
6/14/23
...
750
196
4838364.SQ.FTS.B,
Zero
Cpn,
6/14/23
...
2,182
2,116
4838538.SQ.FTS.B,
Zero
Cpn,
6/14/23
...
12,187
10,778
4838849.SQ.FTS.B,
Zero
Cpn,
6/14/23
...
1,405
1,366
4838915.SQ.FTS.B,
Zero
Cpn,
6/14/23
...
646
631
4838933.SQ.FTS.B,
Zero
Cpn,
6/14/23
...
631
617
4838950.SQ.FTS.B,
Zero
Cpn,
6/14/23
...
6,526
6,204
4838982.SQ.FTS.B,
Zero
Cpn,
6/14/23
...
20,849
20,319
4839067.SQ.FTS.B,
Zero
Cpn,
6/14/23
...
26
26
4839102.SQ.FTS.B,
Zero
Cpn,
6/14/23
...
1,596
963
4839115.SQ.FTS.B,
Zero
Cpn,
6/14/23
...
2,195
2,124
Description
Principal
Amount
Value
Block,
Inc.
(continued)
4839175.SQ.FTS.B,
Zero
Cpn,
6/14/23
...
$
732
$
655
4839346.SQ.FTS.B,
Zero
Cpn,
6/14/23
...
4,077
3,968
4839422.SQ.FTS.B,
Zero
Cpn,
6/14/23
...
15,279
14,512
4839507.SQ.FTS.B,
Zero
Cpn,
6/14/23
...
2,409
2,128
4839602.SQ.FTS.B,
Zero
Cpn,
6/14/23
...
774
758
4839660.SQ.FTS.B,
Zero
Cpn,
6/14/23
...
1,551
1,509
4839695.SQ.FTS.B,
Zero
Cpn,
6/14/23
...
1,817
1,769
4839768.SQ.FTS.B,
Zero
Cpn,
6/14/23
...
5,703
4,953
4839836.SQ.FTS.B,
Zero
Cpn,
6/14/23
...
1,363
1,326
4839881.SQ.FTS.B,
Zero
Cpn,
6/14/23
...
4,250
4,160
4840033.SQ.FTS.B,
Zero
Cpn,
6/14/23
...
256
229
4840040.SQ.FTS.B,
Zero
Cpn,
6/14/23
...
4,477
4,122
4840302.SQ.FTS.B,
Zero
Cpn,
6/14/23
...
4,716
4,581
4840438.SQ.FTS.B,
Zero
Cpn,
6/14/23
...
655
639
4840693.SQ.FTS.B,
Zero
Cpn,
6/14/23
...
9,067
8,847
4840697.SQ.FTS.B,
Zero
Cpn,
6/14/23
...
1,034
423
4840772.SQ.FTS.B,
Zero
Cpn,
6/14/23
...
698
686
4840946.SQ.FTS.B,
Zero
Cpn,
6/15/23
...
1,019
987
4840964.SQ.FTS.B,
Zero
Cpn,
6/15/23
...
1,321
1,292
4840999.SQ.FTS.B,
Zero
Cpn,
6/15/23
...
1,979
1,941
4841093.SQ.FTS.B,
Zero
Cpn,
6/15/23
...
1,702
1,591
4841116.SQ.FTS.B,
Zero
Cpn,
6/15/23
...
11,234
5,301
4841767.SQ.FTS.B,
Zero
Cpn,
6/15/23
...
16,065
15,292
4842088.SQ.FTS.B,
Zero
Cpn,
6/15/23
...
1,947
1,857
4842161.SQ.FTS.B,
Zero
Cpn,
6/15/23
...
3,597
3,506
4842266.SQ.FTS.B,
Zero
Cpn,
6/15/23
...
2,440
2,358
4842324.SQ.FTS.B,
Zero
Cpn,
6/15/23
...
924
842
4842349.SQ.FTS.B,
Zero
Cpn,
6/15/23
...
675
615
4842376.SQ.FTS.B,
Zero
Cpn,
6/15/23
...
525
513
4842421.SQ.FTS.B,
Zero
Cpn,
6/15/23
...
401
382
4842483.SQ.FTS.B,
Zero
Cpn,
6/15/23
...
1,782
1,733
4842605.SQ.FTS.B,
Zero
Cpn,
6/15/23
...
4,145
1,842
4842631.SQ.FTS.B,
Zero
Cpn,
6/15/23
...
5,776
4,240
4842840.SQ.FTS.B,
Zero
Cpn,
6/15/23
...
14,814
14,024
4843200.SQ.FTS.B,
Zero
Cpn,
6/15/23
...
5,883
5,459
4843260.SQ.FTS.B,
Zero
Cpn,
6/15/23
...
5,091
4,844
4843394.SQ.FTS.B,
Zero
Cpn,
6/15/23
...
1,887
1,763
4848370.SQ.FTS.B,
Zero
Cpn,
6/16/23
...
20,517
14,795
4848554.SQ.FTS.B,
Zero
Cpn,
6/16/23
...
2,267
2,218
4848622.SQ.FTS.B,
Zero
Cpn,
6/16/23
...
2,757
2,661
4848754.SQ.FTS.B,
Zero
Cpn,
6/16/23
...
638
553
4848786.SQ.FTS.B,
Zero
Cpn,
6/16/23
...
3,901
3,808
4849168.SQ.FTS.B,
Zero
Cpn,
6/16/23
...
1,592
1,552
4850013.SQ.FTS.B,
Zero
Cpn,
6/16/23
...
17,848
17,397
4850458.SQ.FTS.B,
Zero
Cpn,
6/16/23
...
7,230
7,034
4850611.SQ.FTS.B,
Zero
Cpn,
6/16/23
...
436
422
4850645.SQ.FTS.B,
Zero
Cpn,
6/16/23
...
748
734
4850690.SQ.FTS.B,
Zero
Cpn,
6/16/23
...
12,789
12,511
4852345.SQ.FTS.B,
Zero
Cpn,
6/16/23
...
1,268
1,219
4857136.SQ.FTS.B,
Zero
Cpn,
6/16/23
...
421
403
4857359.SQ.FTS.B,
Zero
Cpn,
6/16/23
...
1,798
1,753
4857427.SQ.FTS.B,
Zero
Cpn,
6/16/23
...
7,023
6,008
4857526.SQ.FTS.B,
Zero
Cpn,
6/16/23
...
844
822
4857584.SQ.FTS.B,
Zero
Cpn,
6/16/23
...
3,135
3,047
4857633.SQ.FTS.B,
Zero
Cpn,
6/16/23
...
2,671
1,506
4857679.SQ.FTS.B,
Zero
Cpn,
6/16/23
...
834
815
4857700.SQ.FTS.B,
Zero
Cpn,
6/16/23
...
1,033
1,010
4857766.SQ.FTS.B,
Zero
Cpn,
6/17/23
...
3,197
3,121
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
49
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
4857912.SQ.FTS.B,
Zero
Cpn,
6/17/23
...
$
2,104
$
2,050
4858043.SQ.FTS.B,
Zero
Cpn,
6/17/23
...
4
4
4858139.SQ.FTS.B,
Zero
Cpn,
6/17/23
...
2,955
2,668
4858187.SQ.FTS.B,
Zero
Cpn,
6/17/23
...
139
134
4858432.SQ.FTS.B,
Zero
Cpn,
6/17/23
...
3,788
3,660
4858620.SQ.FTS.B,
Zero
Cpn,
6/17/23
...
1,204
1,175
4859120.SQ.FTS.B,
Zero
Cpn,
6/17/23
...
1,451
1,407
4859465.SQ.FTS.B,
Zero
Cpn,
6/17/23
...
2,425
2,361
4859519.SQ.FTS.B,
Zero
Cpn,
6/17/23
...
941
882
4859542.SQ.FTS.B,
Zero
Cpn,
6/17/23
...
2,456
2,202
4859811.SQ.FTS.B,
Zero
Cpn,
6/17/23
...
503
489
4859995.SQ.FTS.B,
Zero
Cpn,
6/17/23
...
2,718
2,247
4860159.SQ.FTS.B,
Zero
Cpn,
6/17/23
...
2,748
2,676
4860257.SQ.FTS.B,
Zero
Cpn,
6/17/23
...
1,324
1,302
4860412.SQ.FTS.B,
Zero
Cpn,
6/17/23
...
1,718
1,673
4861028.SQ.FTS.B,
Zero
Cpn,
6/17/23
...
1,290
1,253
4861060.SQ.FTS.B,
Zero
Cpn,
6/17/23
...
2,704
2,611
4861133.SQ.FTS.B,
Zero
Cpn,
6/17/23
...
12,819
12,536
4861461.SQ.FTS.B,
Zero
Cpn,
6/17/23
...
615
493
4861474.SQ.FTS.B,
Zero
Cpn,
6/17/23
...
1,717
1,673
4861743.SQ.FTS.B,
Zero
Cpn,
6/17/23
...
205
186
4861854.SQ.FTS.B,
Zero
Cpn,
6/18/23
...
1,007
610
4861868.SQ.FTS.B,
Zero
Cpn,
6/18/23
...
6,584
6,459
4861877.SQ.FTS.B,
Zero
Cpn,
6/18/23
...
885
868
4862012.SQ.FTS.B,
Zero
Cpn,
6/18/23
...
2,597
2,352
4862034.SQ.FTS.B,
Zero
Cpn,
6/18/23
...
2,225
1,721
4862074.SQ.FTS.B,
Zero
Cpn,
6/18/23
...
2,883
2,597
4862128.SQ.FTS.B,
Zero
Cpn,
6/18/23
...
2,156
2,085
4862192.SQ.FTS.B,
Zero
Cpn,
6/18/23
...
15,808
10,594
4862318.SQ.FTS.B,
Zero
Cpn,
6/18/23
...
1,015
992
4862341.SQ.FTS.B,
Zero
Cpn,
6/18/23
...
939
229
4862443.SQ.FTS.B,
Zero
Cpn,
6/18/23
...
7,578
4,445
4862502.SQ.FTS.B,
Zero
Cpn,
6/18/23
...
4,727
4,588
4862554.SQ.FTS.B,
Zero
Cpn,
6/18/23
...
2,225
2,144
4862615.SQ.FTS.B,
Zero
Cpn,
6/18/23
...
7,030
5,674
4862676.SQ.FTS.B,
Zero
Cpn,
6/19/23
...
3,830
3,741
4862769.SQ.FTS.B,
Zero
Cpn,
6/19/23
...
10,983
7,579
4862799.SQ.FTS.B,
Zero
Cpn,
6/19/23
...
2,312
2,201
4862828.SQ.FTS.B,
Zero
Cpn,
6/19/23
...
2,701
2,627
4862835.SQ.FTS.B,
Zero
Cpn,
6/19/23
...
785
766
4862918.SQ.FTS.B,
Zero
Cpn,
6/19/23
...
808
790
4862938.SQ.FTS.B,
Zero
Cpn,
6/19/23
...
948
872
4862963.SQ.FTS.B,
Zero
Cpn,
6/19/23
...
193
189
4862998.SQ.FTS.B,
Zero
Cpn,
6/19/23
...
1,298
775
4863011.SQ.FTS.B,
Zero
Cpn,
6/19/23
...
615
551
4863041.SQ.FTS.B,
Zero
Cpn,
6/19/23
...
328
318
4863062.SQ.FTS.B,
Zero
Cpn,
6/19/23
...
3,882
1,580
4863092.SQ.FTS.B,
Zero
Cpn,
6/19/23
...
505
493
4863112.SQ.FTS.B,
Zero
Cpn,
6/19/23
...
677
597
4863152.SQ.FTS.B,
Zero
Cpn,
6/19/23
...
800
784
4863180.SQ.FTS.B,
Zero
Cpn,
6/19/23
...
476
442
4863186.SQ.FTS.B,
Zero
Cpn,
6/19/23
...
4,989
4,490
4863238.SQ.FTS.B,
Zero
Cpn,
6/19/23
...
5,993
2,968
4863272.SQ.FTS.B,
Zero
Cpn,
6/19/23
...
354
295
4863316.SQ.FTS.B,
Zero
Cpn,
6/19/23
...
2,687
2,608
4863323.SQ.FTS.B,
Zero
Cpn,
6/19/23
...
1,595
1,552
4863343.SQ.FTS.B,
Zero
Cpn,
6/19/23
...
1,047
1,020
4863359.SQ.FTS.B,
Zero
Cpn,
6/19/23
...
15,783
14,744
Description
Principal
Amount
Value
Block,
Inc.
(continued)
4863412.SQ.FTS.B,
Zero
Cpn,
6/19/23
...
$
11,720
$
9,295
4863607.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
5,272
4,363
4863700.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
4,028
3,879
4863925.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
6,510
4,904
4864134.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
208
204
4864344.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
589
576
4864375.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
1,358
1,228
4864583.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
3,940
3,821
4864776.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
3,110
3,040
4864990.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
3,890
3,781
4865007.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
5,453
5,150
4865123.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
26
26
4865141.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
1,043
489
4865173.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
1,359
1,324
4865268.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
763
748
4865321.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
1,822
1,779
4865419.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
3,850
3,522
4865486.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
721
704
4865515.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
2,196
1,019
4865553.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
1,227
1,199
4865629.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
4,380
4,273
4865744.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
3,808
3,698
4865787.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
19,554
19,148
4866514.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
1,858
1,824
4866601.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
2,632
2,554
4866624.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
605
550
4866660.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
1,655
1,624
4866779.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
57
56
4866807.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
246
221
4866813.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
765
443
4867117.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
2,562
2,486
4867257.SQ.FTS.B,
Zero
Cpn,
6/20/23
...
1,948
1,682
4867656.SQ.FTS.B,
Zero
Cpn,
6/21/23
...
12,641
11,232
4867783.SQ.FTS.B,
Zero
Cpn,
6/21/23
...
546
483
4867843.SQ.FTS.B,
Zero
Cpn,
6/21/23
...
1,675
1,323
4867863.SQ.FTS.B,
Zero
Cpn,
6/21/23
...
2,082
1,812
4867903.SQ.FTS.B,
Zero
Cpn,
6/21/23
...
2,173
1,626
4868090.SQ.FTS.B,
Zero
Cpn,
6/21/23
...
2,894
2,752
4868203.SQ.FTS.B,
Zero
Cpn,
6/21/23
...
1,824
1,738
4868563.SQ.FTS.B,
Zero
Cpn,
6/21/23
...
1,343
1,306
4868757.SQ.FTS.B,
Zero
Cpn,
6/21/23
...
3,432
3,339
4868792.SQ.FTS.B,
Zero
Cpn,
6/21/23
...
2,404
2,103
4868828.SQ.FTS.B,
Zero
Cpn,
6/21/23
...
6,010
5,603
4868920.SQ.FTS.B,
Zero
Cpn,
6/21/23
...
8,416
8,207
4869082.SQ.FTS.B,
Zero
Cpn,
6/21/23
...
2,407
2,274
4869171.SQ.FTS.B,
Zero
Cpn,
6/21/23
...
2,328
673
4869249.SQ.FTS.B,
Zero
Cpn,
6/21/23
...
1,469
1,441
4869332.SQ.FTS.B,
Zero
Cpn,
6/21/23
...
3,447
3,257
4869477.SQ.FTS.B,
Zero
Cpn,
6/21/23
...
1,142
1,109
4869512.SQ.FTS.B,
Zero
Cpn,
6/21/23
...
9,341
8,323
4869771.SQ.FTS.B,
Zero
Cpn,
6/21/23
...
1,525
1,494
4869815.SQ.FTS.B,
Zero
Cpn,
6/21/23
...
7,761
3,873
4871747.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
3,165
3,073
4871763.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
651
598
4871779.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
714
697
4871810.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
5,600
4,547
4871837.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
1,724
996
4871853.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
14,114
12,365
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
50
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
4871859.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
$
1,621
$
1,582
4871894.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
15,705
12,878
4871917.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
1,786
1,736
4871931.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
280
272
4871993.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
3,438
3,300
4872014.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
11,475
11,227
4872022.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
2,743
1,206
4872027.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
9,913
6,885
4872072.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
4,177
2,154
4872091.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
20,896
20,070
4872387.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
1,448
1,411
4872398.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
34
33
4872437.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
2,492
1,156
4872442.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
377
329
4872443.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
1,643
1,532
4872445.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
2,379
2,309
4872518.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
214
193
4872520.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
2
2
4872526.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
1,953
1,906
4872570.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
2,161
2,088
4872619.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
71
69
4872649.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
3,705
3,606
4872693.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
3,287
3,155
4872699.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
892
871
4872739.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
5,791
5,397
4872788.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
1,214
1,178
4872802.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
10,296
9,884
4872825.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
2,359
2,227
4872983.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
5,626
4,039
4873140.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
4,406
4,242
4873161.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
10,071
9,585
4873297.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
450
333
4873313.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
2,068
1,419
4873343.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
3,763
3,670
4873405.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
11,038
10,786
4873433.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
549
538
4873459.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
1,318
1,262
4873508.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
4,936
4,794
4873601.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
4,795
2,001
4873664.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
10,505
10,274
4873742.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
4,296
4,107
4873916.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
2,159
2,112
4873921.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
16,857
15,053
4873955.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
6,443
6,215
4874102.SQ.FTS.B,
Zero
Cpn,
6/22/23
...
4,161
4,039
4874157.SQ.FTS.B,
Zero
Cpn,
6/23/23
...
3,873
3,368
4874217.SQ.FTS.B,
Zero
Cpn,
6/23/23
...
2,219
2,159
4874257.SQ.FTS.B,
Zero
Cpn,
6/23/23
...
4,831
4,525
4874535.SQ.FTS.B,
Zero
Cpn,
6/23/23
...
1,193
651
4874544.SQ.FTS.B,
Zero
Cpn,
6/23/23
...
2,092
1,811
4874609.SQ.FTS.B,
Zero
Cpn,
6/23/23
...
9,485
7,717
4874750.SQ.FTS.B,
Zero
Cpn,
6/23/23
...
351
285
4874776.SQ.FTS.B,
Zero
Cpn,
6/23/23
...
3,043
2,967
4874845.SQ.FTS.B,
Zero
Cpn,
6/23/23
...
4,178
3,775
4874998.SQ.FTS.B,
Zero
Cpn,
6/23/23
...
2,368
2,263
4875046.SQ.FTS.B,
Zero
Cpn,
6/23/23
...
4,381
4,285
4875253.SQ.FTS.B,
Zero
Cpn,
6/23/23
...
2,064
2,026
4875372.SQ.FTS.B,
Zero
Cpn,
6/23/23
...
10,224
9,729
Description
Principal
Amount
Value
Block,
Inc.
(continued)
4875554.SQ.FTS.B,
Zero
Cpn,
6/23/23
...
$
2,178
$
2,116
4875644.SQ.FTS.B,
Zero
Cpn,
6/23/23
...
2,619
2,549
4875681.SQ.FTS.B,
Zero
Cpn,
6/23/23
...
19,636
18,206
4875940.SQ.FTS.B,
Zero
Cpn,
6/23/23
...
13,605
11,760
4876174.SQ.FTS.B,
Zero
Cpn,
6/23/23
...
1,281
1,124
4876226.SQ.FTS.B,
Zero
Cpn,
6/23/23
...
8,527
7,941
4876299.SQ.FTS.B,
Zero
Cpn,
6/23/23
...
2,473
2,409
4876352.SQ.FTS.B,
Zero
Cpn,
6/23/23
...
1,854
1,808
4876397.SQ.FTS.B,
Zero
Cpn,
6/23/23
...
2,656
2,530
4876445.SQ.FTS.B,
Zero
Cpn,
6/23/23
...
1,597
1,496
4876467.SQ.FTS.B,
Zero
Cpn,
6/23/23
...
1,211
1,104
4876489.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
11,854
11,171
4876493.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
544
530
4876536.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
2,750
2,468
4876658.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
31
30
4876670.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
5,808
5,083
4876740.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
1,064
1,034
4876741.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
822
733
4876745.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
3,453
3,337
4876759.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
3,196
3,117
4876778.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
2,953
1,717
4876806.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
4,428
4,325
4876809.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
797
780
4876815.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
4,398
4,200
4876827.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
13,911
6,231
4876846.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
12,917
12,507
4876890.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
1,217
1,157
4876892.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
238
217
4876933.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
17,534
13,321
4876974.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
2,677
2,590
4877017.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
1,621
410
4877053.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
555
543
4877057.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
709
579
4877062.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
1,804
1,758
4877067.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
1,174
345
4877069.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
1,350
1,310
4877095.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
1,372
1,338
4877121.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
1,699
1,660
4877152.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
2,401
2,232
4877159.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
459
447
4877160.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
948
595
4877161.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
1,857
1,623
4877168.SQ.FTS.B,
Zero
Cpn,
6/24/23
...
6,229
6,069
4877197.SQ.FTS.B,
Zero
Cpn,
6/25/23
...
5,996
5,783
4877212.SQ.FTS.B,
Zero
Cpn,
6/25/23
...
1,750
1,709
4877229.SQ.FTS.B,
Zero
Cpn,
6/25/23
...
1,902
1,853
4877237.SQ.FTS.B,
Zero
Cpn,
6/25/23
...
2,495
2,367
4877248.SQ.FTS.B,
Zero
Cpn,
6/25/23
...
741
524
4877253.SQ.FTS.B,
Zero
Cpn,
6/25/23
...
1,565
1,519
4877254.SQ.FTS.B,
Zero
Cpn,
6/25/23
...
1,462
1,277
4877259.SQ.FTS.B,
Zero
Cpn,
6/25/23
...
1,419
1,386
4877266.SQ.FTS.B,
Zero
Cpn,
6/25/23
...
353
335
4877269.SQ.FTS.B,
Zero
Cpn,
6/25/23
...
714
696
4877279.SQ.FTS.B,
Zero
Cpn,
6/25/23
...
2,235
2,180
4877291.SQ.FTS.B,
Zero
Cpn,
6/25/23
...
6,414
6,189
4877304.SQ.FTS.B,
Zero
Cpn,
6/25/23
...
929
903
4877316.SQ.FTS.B,
Zero
Cpn,
6/25/23
...
3,137
2,679
4877323.SQ.FTS.B,
Zero
Cpn,
6/25/23
...
608
594
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
51
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
4877345.SQ.FTS.B,
Zero
Cpn,
6/25/23
...
$
3,761
$
3,646
4877362.SQ.FTS.B,
Zero
Cpn,
6/25/23
...
1,713
1,676
4877366.SQ.FTS.B,
Zero
Cpn,
6/25/23
...
1,023
1,006
4877375.SQ.FTS.B,
Zero
Cpn,
6/25/23
...
2,528
2,455
4877394.SQ.FTS.B,
Zero
Cpn,
6/25/23
...
10,369
9,641
4877443.SQ.FTS.B,
Zero
Cpn,
6/25/23
...
7,438
7,207
4877467.SQ.FTS.B,
Zero
Cpn,
6/25/23
...
1,498
1,460
4877479.SQ.FTS.B,
Zero
Cpn,
6/25/23
...
1,109
1,086
4877494.SQ.FTS.B,
Zero
Cpn,
6/25/23
...
5,067
4,922
4877530.SQ.FTS.B,
Zero
Cpn,
6/25/23
...
929
814
4877534.SQ.FTS.B,
Zero
Cpn,
6/25/23
...
3,145
2,565
4877563.SQ.FTS.B,
Zero
Cpn,
6/25/23
...
6,248
6,106
4877586.SQ.FTS.B,
Zero
Cpn,
6/25/23
...
4,917
4,809
4877630.SQ.FTS.B,
Zero
Cpn,
6/26/23
...
2,973
2,870
4877643.SQ.FTS.B,
Zero
Cpn,
6/26/23
...
14,224
13,819
4877698.SQ.FTS.B,
Zero
Cpn,
6/26/23
...
11,946
9,985
4877712.SQ.FTS.B,
Zero
Cpn,
6/26/23
...
1,799
1,756
4877730.SQ.FTS.B,
Zero
Cpn,
6/26/23
...
1,943
1,891
4877739.SQ.FTS.B,
Zero
Cpn,
6/26/23
...
604
588
4877752.SQ.FTS.B,
Zero
Cpn,
6/26/23
...
7,898
7,672
4877756.SQ.FTS.B,
Zero
Cpn,
6/26/23
...
3,421
3,329
4877781.SQ.FTS.B,
Zero
Cpn,
6/26/23
...
1,044
1,019
4877840.SQ.FTS.B,
Zero
Cpn,
6/26/23
...
2,870
2,504
4877855.SQ.FTS.B,
Zero
Cpn,
6/26/23
...
3,808
3,700
4877895.SQ.FTS.B,
Zero
Cpn,
6/26/23
...
1,786
1,730
4877899.SQ.FTS.B,
Zero
Cpn,
6/26/23
...
1,602
1,562
4877917.SQ.FTS.B,
Zero
Cpn,
6/26/23
...
1,450
1,330
4877943.SQ.FTS.B,
Zero
Cpn,
6/26/23
...
4,412
3,341
4877958.SQ.FTS.B,
Zero
Cpn,
6/26/23
...
3,234
3,136
4878000.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
3,333
2,924
4878060.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
9,653
9,431
4878103.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
666
473
4878145.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
1,831
1,745
4878271.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
4,597
4,388
4878352.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
2,721
2,655
4878504.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
2,350
2,183
4878700.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
1,633
1,598
4878711.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
1,253
1,223
4878717.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
4,128
2,282
4878727.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
1,878
1,768
4878763.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
201
198
4878778.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
1,569
1,526
4878787.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
4,067
1,980
4878823.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
443
433
4878858.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
184
179
4878864.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
4,688
4,577
4878897.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
431
423
4878912.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
766
748
4878949.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
465
454
4878962.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
2,170
1,277
4878974.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
819
802
4879027.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
1,223
1,182
4879034.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
9,544
9,322
4879099.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
925
907
4879121.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
133
130
4879124.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
5,780
3,762
4879136.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
24,129
23,488
4879257.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
424
415
Description
Principal
Amount
Value
Block,
Inc.
(continued)
4879260.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
$
11,057
$
5,599
4879279.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
11,003
10,246
4879332.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
7,439
7,123
4879349.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
2,976
2,905
4879371.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
1,678
1,098
4879372.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
7,422
7,263
4879455.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
38,065
28,720
4879524.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
502
493
4879558.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
1,313
1,279
4879560.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
1,092
1,023
4879562.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
1,034
957
4879573.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
223
216
4879583.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
11,428
10,723
4879607.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
14,107
11,258
4879620.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
3,140
3,046
4879720.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
1,390
1,353
4879728.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
2,694
1,564
4879797.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
9,106
8,803
4879828.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
2,396
1,389
4879853.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
3,707
3,619
4879944.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
1,200
1,068
4880063.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
5,117
2,994
4880067.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
24,309
23,663
4880134.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
2,448
2,377
4880161.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
2,833
2,489
4880171.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
6,394
6,099
4880186.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
5,121
4,977
4880200.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
1,747
1,704
4880212.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
3,709
3,595
4880228.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
10,636
10,201
4880260.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
45
44
4880263.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
424
417
4880271.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
5,763
2,211
4880273.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
32,499
19,666
4880279.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
10,858
8,990
4880336.SQ.FTS.B,
Zero
Cpn,
6/27/23
...
3,379
2,313
4880374.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
14,818
13,743
4880560.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
1,692
1,615
4880603.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
1,807
1,688
4880642.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
4,067
3,842
4880766.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
5,875
4,925
4880840.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
3,256
2,914
4880881.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
274
198
4880887.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
99
97
4881216.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
588
544
4881269.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
1,152
1,099
4881332.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
2,222
1,346
4881352.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
1,010
984
4881387.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
1,279
1,181
4881407.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
1,083
1,058
4881418.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
44,215
40,431
4881591.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
1,175
1,071
4881593.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
8,823
8,597
4881595.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
1,694
1,616
4881624.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
2,815
2,745
4881625.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
1,162
611
4881632.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
5,202
1,170
4881635.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
1,306
1,273
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
52
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
4881640.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
$
979
$
950
4881651.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
1,330
1,295
4881661.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
5,080
4,634
4881853.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
2,110
2,012
4881866.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
16,358
15,267
4881933.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
502
457
4881955.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
1,430
1,395
4881967.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
1,621
1,093
4881982.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
649
618
4882127.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
35,043
18,354
4882292.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
2,970
2,031
4882306.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
2,297
2,227
4882320.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
17,002
16,598
4882407.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
3,043
2,958
4882526.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
1,817
1,767
4882536.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
3,915
3,696
4882577.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
483
473
4882615.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
872
818
4882630.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
7,084
5,958
4882665.SQ.FTS.B,
Zero
Cpn,
6/28/23
...
5,475
4,596
4884629.SQ.FTS.B,
Zero
Cpn,
6/29/23
...
1,472
1,436
4884654.SQ.FTS.B,
Zero
Cpn,
6/29/23
...
20,706
20,096
4884881.SQ.FTS.B,
Zero
Cpn,
6/29/23
...
1,041
1,014
4884930.SQ.FTS.B,
Zero
Cpn,
6/29/23
...
2,386
2,320
4885014.SQ.FTS.B,
Zero
Cpn,
6/29/23
...
4,805
4,677
4885067.SQ.FTS.B,
Zero
Cpn,
6/29/23
...
21,295
20,721
4885527.SQ.FTS.B,
Zero
Cpn,
6/29/23
...
6,613
6,396
4885661.SQ.FTS.B,
Zero
Cpn,
6/29/23
...
25,935
24,471
4886134.SQ.FTS.B,
Zero
Cpn,
6/29/23
...
871
856
4886221.SQ.FTS.B,
Zero
Cpn,
6/29/23
...
1,529
1,491
4886247.SQ.FTS.B,
Zero
Cpn,
6/29/23
...
493
473
4886253.SQ.FTS.B,
Zero
Cpn,
6/29/23
...
1,216
1,192
4886304.SQ.FTS.B,
Zero
Cpn,
6/29/23
...
3,132
3,065
4886432.SQ.FTS.B,
Zero
Cpn,
6/29/23
...
304
281
4886544.SQ.FTS.B,
Zero
Cpn,
6/30/23
...
28,167
26,345
4886903.SQ.FTS.B,
Zero
Cpn,
6/30/23
...
2,071
930
4886912.SQ.FTS.B,
Zero
Cpn,
6/30/23
...
2,287
1,124
4886937.SQ.FTS.B,
Zero
Cpn,
6/30/23
...
462
450
4886949.SQ.FTS.B,
Zero
Cpn,
6/30/23
...
2,363
2,303
4887115.SQ.FTS.B,
Zero
Cpn,
6/30/23
...
2,637
2,423
4887186.SQ.FTS.B,
Zero
Cpn,
6/30/23
...
635
620
4887201.SQ.FTS.B,
Zero
Cpn,
6/30/23
...
508
498
4887212.SQ.FTS.B,
Zero
Cpn,
6/30/23
...
6,516
6,313
4887297.SQ.FTS.B,
Zero
Cpn,
6/30/23
...
15,028
14,622
4887522.SQ.FTS.B,
Zero
Cpn,
6/30/23
...
1,883
1,846
4888101.SQ.FTS.B,
Zero
Cpn,
6/30/23
...
2,190
2,137
4888177.SQ.FTS.B,
Zero
Cpn,
6/30/23
...
942
685
4888184.SQ.FTS.B,
Zero
Cpn,
6/30/23
...
2,334
2,268
4888343.SQ.FTS.B,
Zero
Cpn,
6/30/23
...
3,123
3,055
4888694.SQ.FTS.B,
Zero
Cpn,
6/30/23
...
7,308
6,086
4888956.SQ.FTS.B,
Zero
Cpn,
6/30/23
...
5,429
5,276
4889015.SQ.FTS.B,
Zero
Cpn,
6/30/23
...
2,869
2,794
4889049.SQ.FTS.B,
Zero
Cpn,
6/30/23
...
6,526
6,329
4889117.SQ.FTS.B,
Zero
Cpn,
6/30/23
...
9,149
8,850
4889195.SQ.FTS.B,
Zero
Cpn,
6/30/23
...
3,828
3,704
4889268.SQ.FTS.B,
Zero
Cpn,
6/30/23
...
863
228
4889279.SQ.FTS.B,
Zero
Cpn,
6/30/23
...
9,373
7,192
4889327.SQ.FTS.B,
Zero
Cpn,
6/30/23
...
2,871
2,622
Description
Principal
Amount
Value
Block,
Inc.
(continued)
4889354.SQ.FTS.B,
Zero
Cpn,
6/30/23
...
$
5,357
$
5,184
4889435.SQ.FTS.B,
Zero
Cpn,
6/30/23
...
4,099
3,773
4889466.SQ.FTS.B,
Zero
Cpn,
7/01/23
...
1,633
1,533
4889477.SQ.FTS.B,
Zero
Cpn,
7/01/23
...
4,672
4,487
4889545.SQ.FTS.B,
Zero
Cpn,
7/01/23
...
1,096
1,063
4889560.SQ.FTS.B,
Zero
Cpn,
7/01/23
...
1,875
1,821
4889574.SQ.FTS.B,
Zero
Cpn,
7/01/23
...
3,502
2,278
4889596.SQ.FTS.B,
Zero
Cpn,
7/01/23
...
1,228
1,195
4889623.SQ.FTS.B,
Zero
Cpn,
7/01/23
...
12,478
10,506
4889733.SQ.FTS.B,
Zero
Cpn,
7/01/23
...
444
427
4889755.SQ.FTS.B,
Zero
Cpn,
7/01/23
...
325
318
4889768.SQ.FTS.B,
Zero
Cpn,
7/01/23
...
1,250
481
4889906.SQ.FTS.B,
Zero
Cpn,
7/02/23
...
1,664
1,623
4889956.SQ.FTS.B,
Zero
Cpn,
7/02/23
...
2,786
2,627
4889983.SQ.FTS.B,
Zero
Cpn,
7/02/23
...
17,309
15,789
4890172.SQ.FTS.B,
Zero
Cpn,
7/02/23
...
9,955
9,735
4890365.SQ.FTS.B,
Zero
Cpn,
7/03/23
...
1,549
1,506
4890462.SQ.FTS.B,
Zero
Cpn,
7/03/23
...
318
312
4890474.SQ.FTS.B,
Zero
Cpn,
7/03/23
...
3,783
3,686
4890653.SQ.FTS.B,
Zero
Cpn,
7/03/23
...
3,330
3,258
4890816.SQ.FTS.B,
Zero
Cpn,
7/03/23
...
5,265
5,157
4891093.SQ.FTS.B,
Zero
Cpn,
7/03/23
...
2,800
2,730
4891172.SQ.FTS.B,
Zero
Cpn,
7/03/23
...
390
380
4891202.SQ.FTS.B,
Zero
Cpn,
7/03/23
...
8,900
7,828
4891712.SQ.FTS.B,
Zero
Cpn,
7/03/23
...
1,995
1,956
4891886.SQ.FTS.B,
Zero
Cpn,
7/03/23
...
4,169
3,985
4891988.SQ.FTS.B,
Zero
Cpn,
7/03/23
...
8,647
8,306
4893066.SQ.FTS.B,
Zero
Cpn,
7/04/23
...
3,265
1,154
4893079.SQ.FTS.B,
Zero
Cpn,
7/04/23
...
774
758
4893104.SQ.FTS.B,
Zero
Cpn,
7/04/23
...
937
792
4893123.SQ.FTS.B,
Zero
Cpn,
7/04/23
...
2,649
2,008
4893158.SQ.FTS.B,
Zero
Cpn,
7/04/23
...
1,931
1,885
4893283.SQ.FTS.B,
Zero
Cpn,
7/04/23
...
2,439
2,375
4893338.SQ.FTS.B,
Zero
Cpn,
7/04/23
...
2,183
2,091
4893540.SQ.FTS.B,
Zero
Cpn,
7/04/23
...
264
260
4893576.SQ.FTS.B,
Zero
Cpn,
7/04/23
...
3,666
3,564
4894101.SQ.FTS.B,
Zero
Cpn,
7/04/23
...
13,731
12,331
4894245.SQ.FTS.B,
Zero
Cpn,
7/04/23
...
2,149
2,102
4894316.SQ.FTS.B,
Zero
Cpn,
7/04/23
...
2,956
2,883
4894375.SQ.FTS.B,
Zero
Cpn,
7/04/23
...
2,398
2,338
4894444.SQ.FTS.B,
Zero
Cpn,
7/04/23
...
1,733
1,517
4894456.SQ.FTS.B,
Zero
Cpn,
7/04/23
...
4,751
3,475
4894507.SQ.FTS.B,
Zero
Cpn,
7/04/23
...
32,884
18,900
4894618.SQ.FTS.B,
Zero
Cpn,
7/04/23
...
257
252
4894729.SQ.FTS.B,
Zero
Cpn,
7/04/23
...
343
338
4894821.SQ.FTS.B,
Zero
Cpn,
7/04/23
...
2,820
1,469
4894867.SQ.FTS.B,
Zero
Cpn,
7/04/23
...
89
86
4894869.SQ.FTS.B,
Zero
Cpn,
7/04/23
...
1,501
1,476
4894946.SQ.FTS.B,
Zero
Cpn,
7/05/23
...
2,857
2,726
4895058.SQ.FTS.B,
Zero
Cpn,
7/05/23
...
2,034
1,971
4895085.SQ.FTS.B,
Zero
Cpn,
7/05/23
...
3,229
2,734
4895122.SQ.FTS.B,
Zero
Cpn,
7/05/23
...
975
929
4895125.SQ.FTS.B,
Zero
Cpn,
7/05/23
...
7,450
5,593
4895205.SQ.FTS.B,
Zero
Cpn,
7/05/23
...
717
576
4895222.SQ.FTS.B,
Zero
Cpn,
7/05/23
...
1,397
990
4895359.SQ.FTS.B,
Zero
Cpn,
7/05/23
...
5,043
4,898
4895514.SQ.FTS.B,
Zero
Cpn,
7/05/23
...
2,116
2,056
4895760.SQ.FTS.B,
Zero
Cpn,
7/05/23
...
3,889
3,794
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
53
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
4895861.SQ.FTS.B,
Zero
Cpn,
7/05/23
...
$
29,695
$
28,476
4896484.SQ.FTS.B,
Zero
Cpn,
7/05/23
...
1,055
512
4896547.SQ.FTS.B,
Zero
Cpn,
7/05/23
...
6,505
3,532
4896736.SQ.FTS.B,
Zero
Cpn,
7/05/23
...
33,021
28,988
4898411.SQ.FTS.B,
Zero
Cpn,
7/06/23
...
5,914
2,916
4898442.SQ.FTS.B,
Zero
Cpn,
7/06/23
...
335
325
4898465.SQ.FTS.B,
Zero
Cpn,
7/06/23
...
252
230
4898473.SQ.FTS.B,
Zero
Cpn,
7/06/23
...
1,565
1,535
4898556.SQ.FTS.B,
Zero
Cpn,
7/06/23
...
5,133
4,326
4898572.SQ.FTS.B,
Zero
Cpn,
7/06/23
...
1,332
1,295
4898646.SQ.FTS.B,
Zero
Cpn,
7/06/23
...
329
322
4898692.SQ.FTS.B,
Zero
Cpn,
7/06/23
...
2,234
2,179
4898727.SQ.FTS.B,
Zero
Cpn,
7/06/23
...
4,810
4,652
4898791.SQ.FTS.B,
Zero
Cpn,
7/06/23
...
2,099
1,963
4898852.SQ.FTS.B,
Zero
Cpn,
7/06/23
...
2,213
2,035
4898988.SQ.FTS.B,
Zero
Cpn,
7/06/23
...
734
715
4899015.SQ.FTS.B,
Zero
Cpn,
7/06/23
...
4,192
4,072
4899103.SQ.FTS.B,
Zero
Cpn,
7/06/23
...
2,189
2,134
4899151.SQ.FTS.B,
Zero
Cpn,
7/06/23
...
4,523
2,587
4899197.SQ.FTS.B,
Zero
Cpn,
7/06/23
...
16,777
16,380
4899494.SQ.FTS.B,
Zero
Cpn,
7/06/23
...
1,716
1,673
4899522.SQ.FTS.B,
Zero
Cpn,
7/06/23
...
7,138
6,899
4899617.SQ.FTS.B,
Zero
Cpn,
7/06/23
...
5,885
5,747
4899693.SQ.FTS.B,
Zero
Cpn,
7/06/23
...
6,489
6,278
4899774.SQ.FTS.B,
Zero
Cpn,
7/06/23
...
17,750
16,579
4900129.SQ.FTS.B,
Zero
Cpn,
7/06/23
...
1,074
1,044
4900139.SQ.FTS.B,
Zero
Cpn,
7/06/23
...
866
839
4900224.SQ.FTS.B,
Zero
Cpn,
7/06/23
...
2,230
2,185
4900337.SQ.FTS.B,
Zero
Cpn,
7/06/23
...
10,992
10,747
4900806.SQ.FTS.B,
Zero
Cpn,
7/07/23
...
17,357
15,356
4900955.SQ.FTS.B,
Zero
Cpn,
7/07/23
...
17,604
17,035
4901331.SQ.FTS.B,
Zero
Cpn,
7/07/23
...
2,423
2,345
4901425.SQ.FTS.B,
Zero
Cpn,
7/07/23
...
214
210
4901461.SQ.FTS.B,
Zero
Cpn,
7/07/23
...
5,937
5,419
4901701.SQ.FTS.B,
Zero
Cpn,
7/07/23
...
930
909
4901726.SQ.FTS.B,
Zero
Cpn,
7/07/23
...
6,461
6,324
4902091.SQ.FTS.B,
Zero
Cpn,
7/07/23
...
472
459
4902106.SQ.FTS.B,
Zero
Cpn,
7/07/23
...
1,083
897
4902772.SQ.FTS.B,
Zero
Cpn,
7/07/23
...
6,574
6,442
4902887.SQ.FTS.B,
Zero
Cpn,
7/08/23
...
3,074
1,826
4902907.SQ.FTS.B,
Zero
Cpn,
7/08/23
...
661
584
4902912.SQ.FTS.B,
Zero
Cpn,
7/08/23
...
1,353
1,190
4903095.SQ.FTS.B,
Zero
Cpn,
7/08/23
...
742
719
4903123.SQ.FTS.B,
Zero
Cpn,
7/08/23
...
1,306
972
4903444.SQ.FTS.B,
Zero
Cpn,
7/09/23
...
3,099
2,288
4903463.SQ.FTS.B,
Zero
Cpn,
7/09/23
...
4,313
4,202
4903532.SQ.FTS.B,
Zero
Cpn,
7/09/23
...
7,519
7,296
4903628.SQ.FTS.B,
Zero
Cpn,
7/09/23
...
4,762
4,647
4903700.SQ.FTS.B,
Zero
Cpn,
7/09/23
...
3,269
3,165
4904362.SQ.FTS.B,
Zero
Cpn,
7/10/23
...
7,355
7,005
4904578.SQ.FTS.B,
Zero
Cpn,
7/10/23
...
1,231
1,201
4904661.SQ.FTS.B,
Zero
Cpn,
7/10/23
...
7,647
7,423
4904789.SQ.FTS.B,
Zero
Cpn,
7/10/23
...
1,326
1,299
4905176.SQ.FTS.B,
Zero
Cpn,
7/10/23
...
1,536
1,404
4905436.SQ.FTS.B,
Zero
Cpn,
7/10/23
...
1,330
956
4905666.SQ.FTS.B,
Zero
Cpn,
7/10/23
...
2,821
2,709
4905695.SQ.FTS.B,
Zero
Cpn,
7/10/23
...
5,331
4,919
4905830.SQ.FTS.B,
Zero
Cpn,
7/10/23
...
2,601
2,493
Description
Principal
Amount
Value
Block,
Inc.
(continued)
4905853.SQ.FTS.B,
Zero
Cpn,
7/10/23
...
$
1,407
$
1,374
4905888.SQ.FTS.B,
Zero
Cpn,
7/10/23
...
468
458
4905897.SQ.FTS.B,
Zero
Cpn,
7/10/23
...
15,663
14,933
4906260.SQ.FTS.B,
Zero
Cpn,
7/11/23
...
13,885
13,127
4906460.SQ.FTS.B,
Zero
Cpn,
7/11/23
...
6,247
5,961
4906967.SQ.FTS.B,
Zero
Cpn,
7/11/23
...
342
329
4906979.SQ.FTS.B,
Zero
Cpn,
7/11/23
...
915
837
4906994.SQ.FTS.B,
Zero
Cpn,
7/11/23
...
1,724
1,557
4907076.SQ.FTS.B,
Zero
Cpn,
7/11/23
...
12,496
12,186
4907364.SQ.FTS.B,
Zero
Cpn,
7/11/23
...
1,752
714
4907410.SQ.FTS.B,
Zero
Cpn,
7/11/23
...
613
599
4907438.SQ.FTS.B,
Zero
Cpn,
7/11/23
...
2,546
2,470
4907482.SQ.FTS.B,
Zero
Cpn,
7/11/23
...
12,562
12,225
4907766.SQ.FTS.B,
Zero
Cpn,
7/11/23
...
575
554
4907944.SQ.FTS.B,
Zero
Cpn,
7/11/23
...
535
518
4908030.SQ.FTS.B,
Zero
Cpn,
7/11/23
...
1,374
1,332
4908064.SQ.FTS.B,
Zero
Cpn,
7/11/23
...
42,263
35,995
4908401.SQ.FTS.B,
Zero
Cpn,
7/11/23
...
634
620
4908542.SQ.FTS.B,
Zero
Cpn,
7/12/23
...
1,233
1,181
4908717.SQ.FTS.B,
Zero
Cpn,
7/12/23
...
1,828
1,718
4908757.SQ.FTS.B,
Zero
Cpn,
7/12/23
...
9,912
9,097
4908919.SQ.FTS.B,
Zero
Cpn,
7/12/23
...
1,942
1,895
4908971.SQ.FTS.B,
Zero
Cpn,
7/12/23
...
14,781
14,501
4909851.SQ.FTS.B,
Zero
Cpn,
7/12/23
...
14,772
14,486
4913000.SQ.FTS.B,
Zero
Cpn,
7/13/23
...
8,209
5,954
4913066.SQ.FTS.B,
Zero
Cpn,
7/13/23
...
8,956
8,698
4913185.SQ.FTS.B,
Zero
Cpn,
7/13/23
...
15,749
12,198
4913352.SQ.FTS.B,
Zero
Cpn,
7/13/23
...
12
11
4913360.SQ.FTS.B,
Zero
Cpn,
7/13/23
...
1,070
1,045
4913388.SQ.FTS.B,
Zero
Cpn,
7/13/23
...
2,114
2,023
4913461.SQ.FTS.B,
Zero
Cpn,
7/13/23
...
2,318
1,830
4913492.SQ.FTS.B,
Zero
Cpn,
7/13/23
...
3,396
3,315
4913780.SQ.FTS.B,
Zero
Cpn,
7/13/23
...
1,693
1,496
4913797.SQ.FTS.B,
Zero
Cpn,
7/13/23
...
2,244
2,153
4913824.SQ.FTS.B,
Zero
Cpn,
7/13/23
...
23,577
22,818
4914351.SQ.FTS.B,
Zero
Cpn,
7/13/23
...
1,283
1,252
4914425.SQ.FTS.B,
Zero
Cpn,
7/13/23
...
4,160
3,906
4914576.SQ.FTS.B,
Zero
Cpn,
7/13/23
...
4,830
4,715
4914708.SQ.FTS.B,
Zero
Cpn,
7/13/23
...
18,470
18,051
4915310.SQ.FTS.B,
Zero
Cpn,
7/14/23
...
476
465
4915513.SQ.FTS.B,
Zero
Cpn,
7/14/23
...
1,054
1,029
4915693.SQ.FTS.B,
Zero
Cpn,
7/14/23
...
10,292
10,040
4916174.SQ.FTS.B,
Zero
Cpn,
7/14/23
...
1,508
1,365
4916196.SQ.FTS.B,
Zero
Cpn,
7/14/23
...
6,752
6,571
4916400.SQ.FTS.B,
Zero
Cpn,
7/14/23
...
1,697
1,261
4916415.SQ.FTS.B,
Zero
Cpn,
7/14/23
...
517
488
4916435.SQ.FTS.B,
Zero
Cpn,
7/14/23
...
1,257
1,203
4916467.SQ.FTS.B,
Zero
Cpn,
7/14/23
...
3,021
2,945
4916628.SQ.FTS.B,
Zero
Cpn,
7/14/23
...
719
696
4916640.SQ.FTS.B,
Zero
Cpn,
7/14/23
...
3,110
2,464
4916673.SQ.FTS.B,
Zero
Cpn,
7/14/23
...
9,163
7,946
4916836.SQ.FTS.B,
Zero
Cpn,
7/14/23
...
3,170
2,346
4922562.SQ.FTS.B,
Zero
Cpn,
7/14/23
...
10,028
5,861
4922630.SQ.FTS.B,
Zero
Cpn,
7/14/23
...
5,284
5,148
4922742.SQ.FTS.B,
Zero
Cpn,
7/14/23
...
5,118
4,703
4922790.SQ.FTS.B,
Zero
Cpn,
7/14/23
...
676
453
4922899.SQ.FTS.B,
Zero
Cpn,
7/14/23
...
719
646
4922902.SQ.FTS.B,
Zero
Cpn,
7/14/23
...
19,526
18,910
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
54
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
4923000.SQ.FTS.B,
Zero
Cpn,
7/15/23
...
$
3,614
$
3,377
4923033.SQ.FTS.B,
Zero
Cpn,
7/15/23
...
1,324
1,198
4923082.SQ.FTS.B,
Zero
Cpn,
7/15/23
...
3,682
3,557
4923106.SQ.FTS.B,
Zero
Cpn,
7/15/23
...
2,537
2,436
4923122.SQ.FTS.B,
Zero
Cpn,
7/15/23
...
4,259
3,559
4923150.SQ.FTS.B,
Zero
Cpn,
7/15/23
...
837
817
4923162.SQ.FTS.B,
Zero
Cpn,
7/15/23
...
1,555
1,516
4923176.SQ.FTS.B,
Zero
Cpn,
7/15/23
...
2,435
2,372
4923335.SQ.FTS.B,
Zero
Cpn,
7/15/23
...
9,292
8,890
4923455.SQ.FTS.B,
Zero
Cpn,
7/15/23
...
1,910
1,862
4923483.SQ.FTS.B,
Zero
Cpn,
7/15/23
...
640
582
4923493.SQ.FTS.B,
Zero
Cpn,
7/15/23
...
148
137
4923524.SQ.FTS.B,
Zero
Cpn,
7/16/23
...
2,098
2,028
4923558.SQ.FTS.B,
Zero
Cpn,
7/16/23
...
8,912
8,641
4923778.SQ.FTS.B,
Zero
Cpn,
7/16/23
...
3,837
3,712
4923904.SQ.FTS.B,
Zero
Cpn,
7/16/23
...
13,231
11,866
4924013.SQ.FTS.B,
Zero
Cpn,
7/16/23
...
798
744
4924028.SQ.FTS.B,
Zero
Cpn,
7/17/23
...
4,132
4,020
4924085.SQ.FTS.B,
Zero
Cpn,
7/17/23
...
5,426
4,875
4924138.SQ.FTS.B,
Zero
Cpn,
7/17/23
...
599
574
4924184.SQ.FTS.B,
Zero
Cpn,
7/17/23
...
2,288
1,981
4924206.SQ.FTS.B,
Zero
Cpn,
7/17/23
...
15,301
13,540
4924368.SQ.FTS.B,
Zero
Cpn,
7/17/23
...
4,748
4,633
4924432.SQ.FTS.B,
Zero
Cpn,
7/17/23
...
914
889
4924475.SQ.FTS.B,
Zero
Cpn,
7/17/23
...
2,377
1,340
4924547.SQ.FTS.B,
Zero
Cpn,
7/17/23
...
11,481
10,852
4924642.SQ.FTS.B,
Zero
Cpn,
7/17/23
...
701
545
4924678.SQ.FTS.B,
Zero
Cpn,
7/17/23
...
890
873
4924701.SQ.FTS.B,
Zero
Cpn,
7/18/23
...
6,083
5,646
4925176.SQ.FTS.B,
Zero
Cpn,
7/18/23
...
1,756
1,724
4925329.SQ.FTS.B,
Zero
Cpn,
7/18/23
...
1,389
1,183
4925376.SQ.FTS.B,
Zero
Cpn,
7/18/23
...
9,282
8,987
4925497.SQ.FTS.B,
Zero
Cpn,
7/18/23
...
602
567
4925535.SQ.FTS.B,
Zero
Cpn,
7/18/23
...
13,277
12,585
4925645.SQ.FTS.B,
Zero
Cpn,
7/18/23
...
1,203
1,169
4925660.SQ.FTS.B,
Zero
Cpn,
7/18/23
...
708
693
4925730.SQ.FTS.B,
Zero
Cpn,
7/18/23
...
1,348
1,226
4925758.SQ.FTS.B,
Zero
Cpn,
7/18/23
...
2,520
2,451
4925780.SQ.FTS.B,
Zero
Cpn,
7/18/23
...
826
766
4925785.SQ.FTS.B,
Zero
Cpn,
7/18/23
...
2,237
2,041
4925819.SQ.FTS.B,
Zero
Cpn,
7/18/23
...
2,211
1,990
4925849.SQ.FTS.B,
Zero
Cpn,
7/18/23
...
19
18
4925959.SQ.FTS.B,
Zero
Cpn,
7/18/23
...
3,523
3,422
4925988.SQ.FTS.B,
Zero
Cpn,
7/18/23
...
3,939
3,846
4926030.SQ.FTS.B,
Zero
Cpn,
7/18/23
...
3,580
3,484
4926061.SQ.FTS.B,
Zero
Cpn,
7/18/23
...
6,186
5,704
4926126.SQ.FTS.B,
Zero
Cpn,
7/18/23
...
1,521
1,495
4926230.SQ.FTS.B,
Zero
Cpn,
7/18/23
...
3,323
2,084
4926287.SQ.FTS.B,
Zero
Cpn,
7/18/23
...
13,449
10,603
4926387.SQ.FTS.B,
Zero
Cpn,
7/18/23
...
2,440
2,253
4926427.SQ.FTS.B,
Zero
Cpn,
7/18/23
...
2,686
2,613
4926453.SQ.FTS.B,
Zero
Cpn,
7/18/23
...
215
210
4926799.SQ.FTS.B,
Zero
Cpn,
7/18/23
...
1,223
1,116
4926854.SQ.FTS.B,
Zero
Cpn,
7/19/23
...
3,637
3,494
4926899.SQ.FTS.B,
Zero
Cpn,
7/19/23
...
130
128
4926904.SQ.FTS.B,
Zero
Cpn,
7/19/23
...
4,925
4,599
4926961.SQ.FTS.B,
Zero
Cpn,
7/19/23
...
294
289
4926974.SQ.FTS.B,
Zero
Cpn,
7/19/23
...
12,638
11,305
Description
Principal
Amount
Value
Block,
Inc.
(continued)
4927161.SQ.FTS.B,
Zero
Cpn,
7/19/23
...
$
2,330
$
2,267
4927610.SQ.FTS.B,
Zero
Cpn,
7/19/23
...
3,522
3,371
4927752.SQ.FTS.B,
Zero
Cpn,
7/19/23
...
349
326
4927759.SQ.FTS.B,
Zero
Cpn,
7/19/23
...
243
238
4927781.SQ.FTS.B,
Zero
Cpn,
7/19/23
...
6,412
6,229
4927870.SQ.FTS.B,
Zero
Cpn,
7/19/23
...
3,722
3,642
4928103.SQ.FTS.B,
Zero
Cpn,
7/19/23
...
2,151
1,998
4928195.SQ.FTS.B,
Zero
Cpn,
7/19/23
...
1,170
1,138
4928374.SQ.FTS.B,
Zero
Cpn,
7/19/23
...
3,565
3,495
4928527.SQ.FTS.B,
Zero
Cpn,
7/19/23
...
1,545
1,510
4928876.SQ.FTS.B,
Zero
Cpn,
7/19/23
...
764
391
4928927.SQ.FTS.B,
Zero
Cpn,
7/19/23
...
4,316
4,168
4928990.SQ.FTS.B,
Zero
Cpn,
7/19/23
...
337
311
4929011.SQ.FTS.B,
Zero
Cpn,
7/19/23
...
2,101
1,768
4929024.SQ.FTS.B,
Zero
Cpn,
7/19/23
...
2,564
1,923
4930391.SQ.FTS.B,
Zero
Cpn,
7/20/23
...
2,006
1,894
4930413.SQ.FTS.B,
Zero
Cpn,
7/20/23
...
16,539
16,121
4930620.SQ.FTS.B,
Zero
Cpn,
7/20/23
...
1,388
1,358
4930648.SQ.FTS.B,
Zero
Cpn,
7/20/23
...
975
937
4930786.SQ.FTS.B,
Zero
Cpn,
7/20/23
...
4,687
4,566
4931016.SQ.FTS.B,
Zero
Cpn,
7/20/23
...
990
323
4931020.SQ.FTS.B,
Zero
Cpn,
7/20/23
...
10,184
8,850
4931187.SQ.FTS.B,
Zero
Cpn,
7/20/23
...
1,537
1,498
4931247.SQ.FTS.B,
Zero
Cpn,
7/20/23
...
3,326
3,244
4931347.SQ.FTS.B,
Zero
Cpn,
7/20/23
...
1,761
1,718
4931380.SQ.FTS.B,
Zero
Cpn,
7/20/23
...
416
391
4931388.SQ.FTS.B,
Zero
Cpn,
7/20/23
...
7,496
6,889
4931539.SQ.FTS.B,
Zero
Cpn,
7/20/23
...
2,006
1,932
4931589.SQ.FTS.B,
Zero
Cpn,
7/20/23
...
1,589
1,562
4931731.SQ.FTS.B,
Zero
Cpn,
7/20/23
...
5,932
5,778
4931875.SQ.FTS.B,
Zero
Cpn,
7/20/23
...
958
940
4931914.SQ.FTS.B,
Zero
Cpn,
7/20/23
...
6,377
6,158
4931993.SQ.FTS.B,
Zero
Cpn,
7/20/23
...
1,211
1,179
4932029.SQ.FTS.B,
Zero
Cpn,
7/20/23
...
1,440
1,394
4932061.SQ.FTS.B,
Zero
Cpn,
7/20/23
...
1,058
1,039
4932141.SQ.FTS.B,
Zero
Cpn,
7/20/23
...
2,445
2,354
4932235.SQ.FTS.B,
Zero
Cpn,
7/20/23
...
639
603
4932569.SQ.FTS.B,
Zero
Cpn,
7/20/23
...
2,088
2,036
4932604.SQ.FTS.B,
Zero
Cpn,
7/20/23
...
3,613
3,520
4932773.SQ.FTS.B,
Zero
Cpn,
7/21/23
...
17,644
16,391
4933258.SQ.FTS.B,
Zero
Cpn,
7/21/23
...
1,694
1,649
4933293.SQ.FTS.B,
Zero
Cpn,
7/21/23
...
9,107
8,295
4933426.SQ.FTS.B,
Zero
Cpn,
7/21/23
...
857
795
4933448.SQ.FTS.B,
Zero
Cpn,
7/21/23
...
3,443
3,363
4933597.SQ.FTS.B,
Zero
Cpn,
7/21/23
...
1,904
1,853
4933889.SQ.FTS.B,
Zero
Cpn,
7/21/23
...
10,162
9,905
4934171.SQ.FTS.B,
Zero
Cpn,
7/21/23
...
1,282
1,182
4934730.SQ.FTS.B,
Zero
Cpn,
7/21/23
...
3,106
3,007
4934794.SQ.FTS.B,
Zero
Cpn,
7/21/23
...
3,345
3,242
4934833.SQ.FTS.B,
Zero
Cpn,
7/21/23
...
7,447
6,482
4934866.SQ.FTS.B,
Zero
Cpn,
7/21/23
...
8,846
7,295
4935046.SQ.FTS.B,
Zero
Cpn,
7/22/23
...
978
949
4935090.SQ.FTS.B,
Zero
Cpn,
7/22/23
...
342
318
4935095.SQ.FTS.B,
Zero
Cpn,
7/22/23
...
2,072
1,985
4935151.SQ.FTS.B,
Zero
Cpn,
7/22/23
...
146
143
4935232.SQ.FTS.B,
Zero
Cpn,
7/22/23
...
974
952
4935271.SQ.FTS.B,
Zero
Cpn,
7/22/23
...
1,024
989
4935283.SQ.FTS.B,
Zero
Cpn,
7/22/23
...
15,050
14,278
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
55
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
4935485.SQ.FTS.B,
Zero
Cpn,
7/22/23
...
$
3,136
$
2,063
4935511.SQ.FTS.B,
Zero
Cpn,
7/22/23
...
450
339
4935533.SQ.FTS.B,
Zero
Cpn,
7/22/23
...
2,031
1,970
4935581.SQ.FTS.B,
Zero
Cpn,
7/23/23
...
1,696
1,655
4935609.SQ.FTS.B,
Zero
Cpn,
7/23/23
...
184
181
4935619.SQ.FTS.B,
Zero
Cpn,
7/23/23
...
6,886
6,744
4935794.SQ.FTS.B,
Zero
Cpn,
7/23/23
...
2,089
2,049
4935850.SQ.FTS.B,
Zero
Cpn,
7/23/23
...
4,814
3,637
4935886.SQ.FTS.B,
Zero
Cpn,
7/23/23
...
848
773
4935902.SQ.FTS.B,
Zero
Cpn,
7/23/23
...
2,593
2,491
4935921.SQ.FTS.B,
Zero
Cpn,
7/23/23
...
2,402
1,940
4935954.SQ.FTS.B,
Zero
Cpn,
7/23/23
...
3,432
2,840
4935990.SQ.FTS.B,
Zero
Cpn,
7/23/23
...
4,953
4,815
4936069.SQ.FTS.B,
Zero
Cpn,
7/23/23
...
3,256
2,703
4936108.SQ.FTS.B,
Zero
Cpn,
7/23/23
...
2,072
2,021
4936134.SQ.FTS.B,
Zero
Cpn,
7/24/23
...
2,887
2,813
4936183.SQ.FTS.B,
Zero
Cpn,
7/24/23
...
2,635
2,452
4936266.SQ.FTS.B,
Zero
Cpn,
7/24/23
...
375
369
4936376.SQ.FTS.B,
Zero
Cpn,
7/24/23
...
5,293
5,159
4936625.SQ.FTS.B,
Zero
Cpn,
7/24/23
...
2,475
2,427
4936732.SQ.FTS.B,
Zero
Cpn,
7/24/23
...
3,707
3,619
4936810.SQ.FTS.B,
Zero
Cpn,
7/24/23
...
886
864
4936975.SQ.FTS.B,
Zero
Cpn,
7/24/23
...
4,229
4,088
4937018.SQ.FTS.B,
Zero
Cpn,
7/24/23
...
601
590
4937157.SQ.FTS.B,
Zero
Cpn,
7/24/23
...
29,691
28,665
4937490.SQ.FTS.B,
Zero
Cpn,
7/24/23
...
3,829
3,715
4937559.SQ.FTS.B,
Zero
Cpn,
7/24/23
...
18,845
18,378
4937896.SQ.FTS.B,
Zero
Cpn,
7/24/23
...
2,143
2,107
4938397.SQ.FTS.B,
Zero
Cpn,
7/24/23
...
12,857
12,503
4938836.SQ.FTS.B,
Zero
Cpn,
7/24/23
...
11,728
10,984
4939024.SQ.FTS.B,
Zero
Cpn,
7/25/23
...
576
564
4939230.SQ.FTS.B,
Zero
Cpn,
7/25/23
...
3,666
3,481
4939413.SQ.FTS.B,
Zero
Cpn,
7/25/23
...
353
337
4939426.SQ.FTS.B,
Zero
Cpn,
7/25/23
...
4,514
4,411
4939841.SQ.FTS.B,
Zero
Cpn,
7/25/23
...
5,611
5,424
4940060.SQ.FTS.B,
Zero
Cpn,
7/25/23
...
837
820
4940101.SQ.FTS.B,
Zero
Cpn,
7/25/23
...
3,124
3,034
4940284.SQ.FTS.B,
Zero
Cpn,
7/25/23
...
6,883
6,427
4940438.SQ.FTS.B,
Zero
Cpn,
7/25/23
...
19,764
18,514
4940732.SQ.FTS.B,
Zero
Cpn,
7/25/23
...
1,074
1,018
4940746.SQ.FTS.B,
Zero
Cpn,
7/25/23
...
4,196
3,879
4941033.SQ.FTS.B,
Zero
Cpn,
7/25/23
...
642
626
4941224.SQ.FTS.B,
Zero
Cpn,
7/25/23
...
4,401
4,161
4941284.SQ.FTS.B,
Zero
Cpn,
7/25/23
...
2,514
2,254
4941294.SQ.FTS.B,
Zero
Cpn,
7/25/23
...
2,141
2,093
4941329.SQ.FTS.B,
Zero
Cpn,
7/25/23
...
6,556
6,344
4941411.SQ.FTS.B,
Zero
Cpn,
7/25/23
...
2,009
1,948
4941429.SQ.FTS.B,
Zero
Cpn,
7/25/23
...
3,967
3,755
4941481.SQ.FTS.B,
Zero
Cpn,
7/26/23
...
998
832
4942035.SQ.FTS.B,
Zero
Cpn,
7/26/23
...
1,633
1,593
4942189.SQ.FTS.B,
Zero
Cpn,
7/26/23
...
3,121
3,037
4942261.SQ.FTS.B,
Zero
Cpn,
7/26/23
...
1,061
462
4942359.SQ.FTS.B,
Zero
Cpn,
7/26/23
...
1,407
1,363
4942797.SQ.FTS.B,
Zero
Cpn,
7/26/23
...
961
938
4942819.SQ.FTS.B,
Zero
Cpn,
7/26/23
...
1,691
1,652
4942884.SQ.FTS.B,
Zero
Cpn,
7/26/23
...
3,947
3,859
4943016.SQ.FTS.B,
Zero
Cpn,
7/26/23
...
2,359
2,302
4943074.SQ.FTS.B,
Zero
Cpn,
7/26/23
...
7,407
6,526
Description
Principal
Amount
Value
Block,
Inc.
(continued)
4943197.SQ.FTS.B,
Zero
Cpn,
7/26/23
...
$
101
$
99
4943578.SQ.FTS.B,
Zero
Cpn,
7/26/23
...
20,648
20,076
4945069.SQ.FTS.B,
Zero
Cpn,
7/27/23
...
1,133
1,113
4945113.SQ.FTS.B,
Zero
Cpn,
7/27/23
...
1,744
1,708
4945152.SQ.FTS.B,
Zero
Cpn,
7/27/23
...
7,247
7,091
4945707.SQ.FTS.B,
Zero
Cpn,
7/27/23
...
5,882
5,676
4945879.SQ.FTS.B,
Zero
Cpn,
7/27/23
...
680
421
4945932.SQ.FTS.B,
Zero
Cpn,
7/27/23
...
4,577
4,296
4946006.SQ.FTS.B,
Zero
Cpn,
7/27/23
...
10,178
9,905
4946952.SQ.FTS.B,
Zero
Cpn,
7/27/23
...
907
877
4947272.SQ.FTS.B,
Zero
Cpn,
7/27/23
...
1,224
1,141
4947535.SQ.FTS.B,
Zero
Cpn,
7/27/23
...
5,961
5,356
4947706.SQ.FTS.B,
Zero
Cpn,
7/27/23
...
9,302
8,852
4947992.SQ.FTS.B,
Zero
Cpn,
7/27/23
...
1,920
1,868
4948128.SQ.FTS.B,
Zero
Cpn,
7/27/23
...
509
500
4948314.SQ.FTS.B,
Zero
Cpn,
7/27/23
...
2,006
1,945
4948736.SQ.FTS.B,
Zero
Cpn,
7/28/23
...
7,436
2,767
4948963.SQ.FTS.B,
Zero
Cpn,
7/28/23
...
2,813
2,701
4949573.SQ.FTS.B,
Zero
Cpn,
7/28/23
...
4,630
4,556
4953337.SQ.FTS.B,
Zero
Cpn,
7/28/23
...
24,646
21,480
4953880.SQ.FTS.B,
Zero
Cpn,
7/28/23
...
1,908
1,779
4953930.SQ.FTS.B,
Zero
Cpn,
7/28/23
...
10,044
6,231
4954105.SQ.FTS.B,
Zero
Cpn,
7/28/23
...
2,947
2,707
4954275.SQ.FTS.B,
Zero
Cpn,
7/28/23
...
6,395
6,202
4954565.SQ.FTS.B,
Zero
Cpn,
7/28/23
...
1,240
1,211
4954636.SQ.FTS.B,
Zero
Cpn,
7/28/23
...
3,186
1,967
4954893.SQ.FTS.B,
Zero
Cpn,
7/28/23
...
5,553
5,443
4955003.SQ.FTS.B,
Zero
Cpn,
7/28/23
...
318
312
4955064.SQ.FTS.B,
Zero
Cpn,
7/28/23
...
12,777
12,350
4955672.SQ.FTS.B,
Zero
Cpn,
7/29/23
...
1,226
1,193
4955702.SQ.FTS.B,
Zero
Cpn,
7/29/23
...
3,913
3,805
4955747.SQ.FTS.B,
Zero
Cpn,
7/29/23
...
1,648
1,617
4955781.SQ.FTS.B,
Zero
Cpn,
7/29/23
...
1,715
1,675
4955803.SQ.FTS.B,
Zero
Cpn,
7/29/23
...
1,465
1,424
4955814.SQ.FTS.B,
Zero
Cpn,
7/29/23
...
274
270
4955835.SQ.FTS.B,
Zero
Cpn,
7/29/23
...
1,262
1,235
4955873.SQ.FTS.B,
Zero
Cpn,
7/29/23
...
3,573
3,508
4956013.SQ.FTS.B,
Zero
Cpn,
7/30/23
...
1,724
1,674
4956050.SQ.FTS.B,
Zero
Cpn,
7/30/23
...
3,617
3,522
4956088.SQ.FTS.B,
Zero
Cpn,
7/30/23
...
11,396
11,123
4956346.SQ.FTS.B,
Zero
Cpn,
7/30/23
...
214
208
4956381.SQ.FTS.B,
Zero
Cpn,
7/30/23
...
850
768
4956395.SQ.FTS.B,
Zero
Cpn,
7/30/23
...
815
796
4956409.SQ.FTS.B,
Zero
Cpn,
7/30/23
...
124
122
4956427.SQ.FTS.B,
Zero
Cpn,
7/30/23
...
926
909
4956468.SQ.FTS.B,
Zero
Cpn,
7/30/23
...
884
457
4956476.SQ.FTS.B,
Zero
Cpn,
7/30/23
...
2,279
2,222
4956511.SQ.FTS.B,
Zero
Cpn,
7/30/23
...
2,797
2,660
4956615.SQ.FTS.B,
Zero
Cpn,
7/30/23
...
396
367
4957370.SQ.FTS.B,
Zero
Cpn,
7/31/23
...
3,229
3,139
4959866.SQ.FTS.B,
Zero
Cpn,
7/31/23
...
2,155
2,098
4960369.SQ.FTS.B,
Zero
Cpn,
7/31/23
...
5,265
5,160
4960965.SQ.FTS.B,
Zero
Cpn,
7/31/23
...
3,796
3,688
4961597.SQ.FTS.B,
Zero
Cpn,
7/31/23
...
6,826
5,509
4961752.SQ.FTS.B,
Zero
Cpn,
7/31/23
...
1,350
1,322
4962039.SQ.FTS.B,
Zero
Cpn,
7/31/23
...
695
678
4962936.SQ.FTS.B,
Zero
Cpn,
7/31/23
...
1,645
1,605
4963170.SQ.FTS.B,
Zero
Cpn,
7/31/23
...
28,862
28,166
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
56
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
4963590.SQ.FTS.B,
Zero
Cpn,
8/01/23
...
$
2,257
$
2,198
4964044.SQ.FTS.B,
Zero
Cpn,
8/01/23
...
7,687
7,088
4964204.SQ.FTS.B,
Zero
Cpn,
8/01/23
...
2,369
2,306
4964322.SQ.FTS.B,
Zero
Cpn,
8/01/23
...
460
451
4964338.SQ.FTS.B,
Zero
Cpn,
8/01/23
...
1,110
560
4964575.SQ.FTS.B,
Zero
Cpn,
8/01/23
...
10,722
10,464
4964927.SQ.FTS.B,
Zero
Cpn,
8/01/23
...
1,586
1,538
4965103.SQ.FTS.B,
Zero
Cpn,
8/01/23
...
426
398
4965121.SQ.FTS.B,
Zero
Cpn,
8/01/23
...
3,346
3,048
4965154.SQ.FTS.B,
Zero
Cpn,
8/01/23
...
11,668
11,124
4965372.SQ.FTS.B,
Zero
Cpn,
8/01/23
...
9,903
9,650
4965713.SQ.FTS.B,
Zero
Cpn,
8/01/23
...
282
276
4965729.SQ.FTS.B,
Zero
Cpn,
8/01/23
...
1,303
1,120
4966006.SQ.FTS.B,
Zero
Cpn,
8/02/23
...
6,264
5,996
4966108.SQ.FTS.B,
Zero
Cpn,
8/02/23
...
31,028
29,546
4966392.SQ.FTS.B,
Zero
Cpn,
8/02/23
...
383
375
4966398.SQ.FTS.B,
Zero
Cpn,
8/02/23
...
405
381
4966403.SQ.FTS.B,
Zero
Cpn,
8/02/23
...
2,223
1,907
4966487.SQ.FTS.B,
Zero
Cpn,
8/02/23
...
673
654
4966524.SQ.FTS.B,
Zero
Cpn,
8/02/23
...
5,503
5,229
4966959.SQ.FTS.B,
Zero
Cpn,
8/02/23
...
1,818
1,277
4967002.SQ.FTS.B,
Zero
Cpn,
8/02/23
...
2,929
2,750
4967037.SQ.FTS.B,
Zero
Cpn,
8/02/23
...
1,401
1,369
4967101.SQ.FTS.B,
Zero
Cpn,
8/02/23
...
787
770
4967450.SQ.FTS.B,
Zero
Cpn,
8/02/23
...
496
483
4967479.SQ.FTS.B,
Zero
Cpn,
8/02/23
...
2,090
2,032
4967507.SQ.FTS.B,
Zero
Cpn,
8/02/23
...
5,698
5,472
4967689.SQ.FTS.B,
Zero
Cpn,
8/02/23
...
3,981
3,873
4967744.SQ.FTS.B,
Zero
Cpn,
8/02/23
...
6,683
6,528
4967891.SQ.FTS.B,
Zero
Cpn,
8/02/23
...
8,635
8,330
4968046.SQ.FTS.B,
Zero
Cpn,
8/02/23
...
1,948
1,910
4968287.SQ.FTS.B,
Zero
Cpn,
8/02/23
...
2,984
2,886
4968338.SQ.FTS.B,
Zero
Cpn,
8/02/23
...
1,244
1,216
4968357.SQ.FTS.B,
Zero
Cpn,
8/02/23
...
687
670
4968450.SQ.FTS.B,
Zero
Cpn,
8/02/23
...
24,351
23,706
4970106.SQ.FTS.B,
Zero
Cpn,
8/03/23
...
986
965
4970146.SQ.FTS.B,
Zero
Cpn,
8/03/23
...
3,086
3,019
4970306.SQ.FTS.B,
Zero
Cpn,
8/03/23
...
951
926
4970320.SQ.FTS.B,
Zero
Cpn,
8/03/23
...
472
464
4970362.SQ.FTS.B,
Zero
Cpn,
8/03/23
...
12,202
11,921
4970789.SQ.FTS.B,
Zero
Cpn,
8/03/23
...
798
779
4970923.SQ.FTS.B,
Zero
Cpn,
8/03/23
...
2,232
2,171
4971058.SQ.FTS.B,
Zero
Cpn,
8/03/23
...
7,285
6,313
4971164.SQ.FTS.B,
Zero
Cpn,
8/03/23
...
6,425
5,617
4971252.SQ.FTS.B,
Zero
Cpn,
8/03/23
...
1,826
1,761
4971305.SQ.FTS.B,
Zero
Cpn,
8/03/23
...
11,671
11,371
4971683.SQ.FTS.B,
Zero
Cpn,
8/03/23
...
2,275
2,228
4971809.SQ.FTS.B,
Zero
Cpn,
8/03/23
...
953
934
4971856.SQ.FTS.B,
Zero
Cpn,
8/03/23
...
7,499
7,283
4972020.SQ.FTS.B,
Zero
Cpn,
8/03/23
...
7,087
6,154
4972172.SQ.FTS.B,
Zero
Cpn,
8/03/23
...
2,427
2,111
4972199.SQ.FTS.B,
Zero
Cpn,
8/03/23
...
24,716
23,127
4972586.SQ.FTS.B,
Zero
Cpn,
8/03/23
...
432
425
4972633.SQ.FTS.B,
Zero
Cpn,
8/04/23
...
1,099
1,072
4972693.SQ.FTS.B,
Zero
Cpn,
8/04/23
...
1,415
1,386
4972905.SQ.FTS.B,
Zero
Cpn,
8/04/23
...
931
910
4972984.SQ.FTS.B,
Zero
Cpn,
8/04/23
...
2,040
1,985
4973052.SQ.FTS.B,
Zero
Cpn,
8/04/23
...
8,861
8,404
Description
Principal
Amount
Value
Block,
Inc.
(continued)
4973218.SQ.FTS.B,
Zero
Cpn,
8/04/23
...
$
388
$
378
4973229.SQ.FTS.B,
Zero
Cpn,
8/04/23
...
4,409
4,271
4973656.SQ.FTS.B,
Zero
Cpn,
8/04/23
...
660
638
4973674.SQ.FTS.B,
Zero
Cpn,
8/04/23
...
17,121
16,634
4973952.SQ.FTS.B,
Zero
Cpn,
8/04/23
...
1,420
1,384
4973968.SQ.FTS.B,
Zero
Cpn,
8/04/23
...
3,511
3,402
4974021.SQ.FTS.B,
Zero
Cpn,
8/04/23
...
39,884
38,093
4974867.SQ.FTS.B,
Zero
Cpn,
8/04/23
...
516
486
4974878.SQ.FTS.B,
Zero
Cpn,
8/04/23
...
10,669
10,345
4975072.SQ.FTS.B,
Zero
Cpn,
8/05/23
...
5,793
5,150
4975130.SQ.FTS.B,
Zero
Cpn,
8/05/23
...
1,320
1,261
4975145.SQ.FTS.B,
Zero
Cpn,
8/05/23
...
2,208
2,015
4975156.SQ.FTS.B,
Zero
Cpn,
8/05/23
...
4,620
4,525
4975322.SQ.FTS.B,
Zero
Cpn,
8/05/23
...
1,106
429
4975331.SQ.FTS.B,
Zero
Cpn,
8/05/23
...
215
204
4975342.SQ.FTS.B,
Zero
Cpn,
8/05/23
...
2,433
2,258
4975362.SQ.FTS.B,
Zero
Cpn,
8/05/23
...
1,208
1,178
4975376.SQ.FTS.B,
Zero
Cpn,
8/05/23
...
2,796
2,685
4975446.SQ.FTS.B,
Zero
Cpn,
8/05/23
...
7,648
7,451
4975551.SQ.FTS.B,
Zero
Cpn,
8/05/23
...
2,521
2,438
4975567.SQ.FTS.B,
Zero
Cpn,
8/05/23
...
844
806
4975606.SQ.FTS.B,
Zero
Cpn,
8/06/23
...
3,050
2,859
4975653.SQ.FTS.B,
Zero
Cpn,
8/06/23
...
25,422
15,156
4975870.SQ.FTS.B,
Zero
Cpn,
8/06/23
...
1,487
1,449
4976072.SQ.FTS.B,
Zero
Cpn,
8/06/23
...
3,508
3,283
4976462.SQ.FTS.B,
Zero
Cpn,
8/07/23
...
2,849
2,762
4976561.SQ.FTS.B,
Zero
Cpn,
8/07/23
...
2,463
945
4976562.SQ.FTS.B,
Zero
Cpn,
8/07/23
...
576
521
4976571.SQ.FTS.B,
Zero
Cpn,
8/07/23
...
1,908
1,869
4977037.SQ.FTS.B,
Zero
Cpn,
8/07/23
...
1,874
1,834
4977066.SQ.FTS.B,
Zero
Cpn,
8/07/23
...
23,956
16,400
4977248.SQ.FTS.B,
Zero
Cpn,
8/07/23
...
23,413
15,779
4977887.SQ.FTS.B,
Zero
Cpn,
8/07/23
...
1,852
1,740
4977905.SQ.FTS.B,
Zero
Cpn,
8/07/23
...
1,708
1,666
4977916.SQ.FTS.B,
Zero
Cpn,
8/07/23
...
3,676
3,520
4978801.SQ.FTS.B,
Zero
Cpn,
8/07/23
...
2,591
2,521
4978834.SQ.FTS.B,
Zero
Cpn,
8/07/23
...
1,815
1,766
4978904.SQ.FTS.B,
Zero
Cpn,
8/07/23
...
3,175
2,944
4978935.SQ.FTS.B,
Zero
Cpn,
8/07/23
...
1,469
1,444
4978982.SQ.FTS.B,
Zero
Cpn,
8/08/23
...
22,009
20,157
4979270.SQ.FTS.B,
Zero
Cpn,
8/08/23
...
1,542
1,432
4979273.SQ.FTS.B,
Zero
Cpn,
8/08/23
...
5,228
2,413
4979334.SQ.FTS.B,
Zero
Cpn,
8/08/23
...
592
397
4979341.SQ.FTS.B,
Zero
Cpn,
8/08/23
...
1,064
1,015
4979368.SQ.FTS.B,
Zero
Cpn,
8/08/23
...
1,816
1,775
4979694.SQ.FTS.B,
Zero
Cpn,
8/08/23
...
8,099
5,721
4979833.SQ.FTS.B,
Zero
Cpn,
8/08/23
...
2,348
2,291
4979884.SQ.FTS.B,
Zero
Cpn,
8/08/23
...
1,626
1,586
4979955.SQ.FTS.B,
Zero
Cpn,
8/08/23
...
2,172
2,123
4980012.SQ.FTS.B,
Zero
Cpn,
8/08/23
...
496
487
4980046.SQ.FTS.B,
Zero
Cpn,
8/08/23
...
15,224
14,516
4980356.SQ.FTS.B,
Zero
Cpn,
8/08/23
...
96
95
4980379.SQ.FTS.B,
Zero
Cpn,
8/08/23
...
1,992
1,419
4980452.SQ.FTS.B,
Zero
Cpn,
8/08/23
...
2,402
2,340
4980465.SQ.FTS.B,
Zero
Cpn,
8/08/23
...
554
423
4980469.SQ.FTS.B,
Zero
Cpn,
8/08/23
...
78
77
4980478.SQ.FTS.B,
Zero
Cpn,
8/08/23
...
532
519
4980502.SQ.FTS.B,
Zero
Cpn,
8/08/23
...
6,622
6,388
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
57
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
4980568.SQ.FTS.B,
Zero
Cpn,
8/08/23
...
$
614
$
598
4980579.SQ.FTS.B,
Zero
Cpn,
8/08/23
...
3,988
3,503
4980701.SQ.FTS.B,
Zero
Cpn,
8/08/23
...
2,940
2,859
4980756.SQ.FTS.B,
Zero
Cpn,
8/08/23
...
3,153
3,062
4980769.SQ.FTS.B,
Zero
Cpn,
8/08/23
...
93
90
4980876.SQ.FTS.B,
Zero
Cpn,
8/08/23
...
891
873
4980957.SQ.FTS.B,
Zero
Cpn,
8/08/23
...
1,074
1,051
4980976.SQ.FTS.B,
Zero
Cpn,
8/08/23
...
4,308
4,122
4981063.SQ.FTS.B,
Zero
Cpn,
8/08/23
...
12,493
12,149
4981159.SQ.FTS.B,
Zero
Cpn,
8/09/23
...
3,162
1,636
4981228.SQ.FTS.B,
Zero
Cpn,
8/09/23
...
4,496
4,224
4981276.SQ.FTS.B,
Zero
Cpn,
8/09/23
...
8,569
8,164
4981400.SQ.FTS.B,
Zero
Cpn,
8/09/23
...
565
547
4981403.SQ.FTS.B,
Zero
Cpn,
8/09/23
...
8,489
7,304
4981531.SQ.FTS.B,
Zero
Cpn,
8/09/23
...
8,647
8,447
4981755.SQ.FTS.B,
Zero
Cpn,
8/09/23
...
4,524
2,646
4981815.SQ.FTS.B,
Zero
Cpn,
8/09/23
...
3,158
3,030
4981853.SQ.FTS.B,
Zero
Cpn,
8/09/23
...
2,707
2,511
4981893.SQ.FTS.B,
Zero
Cpn,
8/09/23
...
1,003
980
4981928.SQ.FTS.B,
Zero
Cpn,
8/09/23
...
2,030
1,975
4981981.SQ.FTS.B,
Zero
Cpn,
8/09/23
...
3,603
3,180
4982021.SQ.FTS.B,
Zero
Cpn,
8/09/23
...
2,386
2,280
4982072.SQ.FTS.B,
Zero
Cpn,
8/09/23
...
2,533
2,479
4982386.SQ.FTS.B,
Zero
Cpn,
8/09/23
...
5,416
4,764
4982458.SQ.FTS.B,
Zero
Cpn,
8/09/23
...
270
266
4983108.SQ.FTS.B,
Zero
Cpn,
8/09/23
...
951
743
4983113.SQ.FTS.B,
Zero
Cpn,
8/09/23
...
6,180
6,053
4984869.SQ.FTS.B,
Zero
Cpn,
8/10/23
...
612
597
4984885.SQ.FTS.B,
Zero
Cpn,
8/10/23
...
1,482
1,446
4984935.SQ.FTS.B,
Zero
Cpn,
8/10/23
...
825
807
4984948.SQ.FTS.B,
Zero
Cpn,
8/10/23
...
1,387
1,232
4984958.SQ.FTS.B,
Zero
Cpn,
8/10/23
...
2,879
2,780
4984980.SQ.FTS.B,
Zero
Cpn,
8/10/23
...
337
310
4984983.SQ.FTS.B,
Zero
Cpn,
8/10/23
...
870
841
4984998.SQ.FTS.B,
Zero
Cpn,
8/10/23
...
1,202
1,173
4985007.SQ.FTS.B,
Zero
Cpn,
8/10/23
...
1,408
1,383
4985040.SQ.FTS.B,
Zero
Cpn,
8/10/23
...
3,502
3,392
4985730.SQ.FTS.B,
Zero
Cpn,
8/10/23
...
2,492
2,430
4985819.SQ.FTS.B,
Zero
Cpn,
8/10/23
...
5,603
5,445
4985982.SQ.FTS.B,
Zero
Cpn,
8/10/23
...
4,307
4,174
4986111.SQ.FTS.B,
Zero
Cpn,
8/10/23
...
614
555
4986119.SQ.FTS.B,
Zero
Cpn,
8/10/23
...
1,122
1,092
4986175.SQ.FTS.B,
Zero
Cpn,
8/10/23
...
1,856
1,749
4986257.SQ.FTS.B,
Zero
Cpn,
8/10/23
...
2,781
2,712
4986355.SQ.FTS.B,
Zero
Cpn,
8/10/23
...
4,821
4,361
4986443.SQ.FTS.B,
Zero
Cpn,
8/10/23
...
455
427
4986449.SQ.FTS.B,
Zero
Cpn,
8/10/23
...
3,088
2,984
4986561.SQ.FTS.B,
Zero
Cpn,
8/10/23
...
822
804
4986696.SQ.FTS.B,
Zero
Cpn,
8/10/23
...
1,212
1,179
4986800.SQ.FTS.B,
Zero
Cpn,
8/10/23
...
2,022
1,960
4986863.SQ.FTS.B,
Zero
Cpn,
8/10/23
...
3,217
2,953
4986907.SQ.FTS.B,
Zero
Cpn,
8/10/23
...
2,376
2,304
4986998.SQ.FTS.B,
Zero
Cpn,
8/10/23
...
1,563
1,519
4987061.SQ.FTS.B,
Zero
Cpn,
8/10/23
...
821
784
4987092.SQ.FTS.B,
Zero
Cpn,
8/10/23
...
1,025
969
4987112.SQ.FTS.B,
Zero
Cpn,
8/10/23
...
1,549
1,502
4987195.SQ.FTS.B,
Zero
Cpn,
8/11/23
...
606
591
4987213.SQ.FTS.B,
Zero
Cpn,
8/11/23
...
6,870
5,486
Description
Principal
Amount
Value
Block,
Inc.
(continued)
4987357.SQ.FTS.B,
Zero
Cpn,
8/11/23
...
$
668
$
616
4987414.SQ.FTS.B,
Zero
Cpn,
8/11/23
...
1,216
1,157
4987494.SQ.FTS.B,
Zero
Cpn,
8/11/23
...
971
942
4987503.SQ.FTS.B,
Zero
Cpn,
8/11/23
...
12,767
12,148
4987931.SQ.FTS.B,
Zero
Cpn,
8/11/23
...
2,971
2,897
4988102.SQ.FTS.B,
Zero
Cpn,
8/11/23
...
534
519
4988146.SQ.FTS.B,
Zero
Cpn,
8/11/23
...
408
399
4988312.SQ.FTS.B,
Zero
Cpn,
8/11/23
...
1,887
1,849
4989079.SQ.FTS.B,
Zero
Cpn,
8/11/23
...
1,584
1,555
4989295.SQ.FTS.B,
Zero
Cpn,
8/11/23
...
575
487
4989352.SQ.FTS.B,
Zero
Cpn,
8/11/23
...
3,657
3,432
4989442.SQ.FTS.B,
Zero
Cpn,
8/11/23
...
1,120
565
4989451.SQ.FTS.B,
Zero
Cpn,
8/11/23
...
733
703
4989667.SQ.FTS.B,
Zero
Cpn,
8/11/23
...
1,359
1,337
4990019.SQ.FTS.B,
Zero
Cpn,
8/11/23
...
26,870
26,167
4990354.SQ.FTS.B,
Zero
Cpn,
8/12/23
...
6,399
6,186
4990394.SQ.FTS.B,
Zero
Cpn,
8/12/23
...
2,469
2,403
4990411.SQ.FTS.B,
Zero
Cpn,
8/12/23
...
1,409
1,291
4990418.SQ.FTS.B,
Zero
Cpn,
8/12/23
...
33,108
30,171
4990588.SQ.FTS.B,
Zero
Cpn,
8/12/23
...
2,414
2,333
4990602.SQ.FTS.B,
Zero
Cpn,
8/12/23
...
2,057
2,005
4990625.SQ.FTS.B,
Zero
Cpn,
8/12/23
...
2,125
1,846
4990639.SQ.FTS.B,
Zero
Cpn,
8/12/23
...
492
442
4990643.SQ.FTS.B,
Zero
Cpn,
8/12/23
...
2,102
2,050
4990668.SQ.FTS.B,
Zero
Cpn,
8/12/23
...
1,655
1,460
4990699.SQ.FTS.B,
Zero
Cpn,
8/12/23
...
1,066
993
4990738.SQ.FTS.B,
Zero
Cpn,
8/12/23
...
4,413
4,292
4990781.SQ.FTS.B,
Zero
Cpn,
8/12/23
...
787
602
4990783.SQ.FTS.B,
Zero
Cpn,
8/12/23
...
6,584
5,845
4990838.SQ.FTS.B,
Zero
Cpn,
8/12/23
...
7,351
7,158
4990889.SQ.FTS.B,
Zero
Cpn,
8/12/23
...
6,293
6,115
4990943.SQ.FTS.B,
Zero
Cpn,
8/12/23
...
7,205
7,008
4991024.SQ.FTS.B,
Zero
Cpn,
8/13/23
...
3,560
3,443
4991054.SQ.FTS.B,
Zero
Cpn,
8/13/23
...
1,542
1,492
4991071.SQ.FTS.B,
Zero
Cpn,
8/13/23
...
1,421
1,382
4991184.SQ.FTS.B,
Zero
Cpn,
8/13/23
...
5,694
5,215
4991228.SQ.FTS.B,
Zero
Cpn,
8/13/23
...
5,523
5,345
4991262.SQ.FTS.B,
Zero
Cpn,
8/13/23
...
6,093
5,411
4991303.SQ.FTS.B,
Zero
Cpn,
8/13/23
...
533
384
4991331.SQ.FTS.B,
Zero
Cpn,
8/13/23
...
2,048
1,961
4991437.SQ.FTS.B,
Zero
Cpn,
8/13/23
...
699
659
4991440.SQ.FTS.B,
Zero
Cpn,
8/13/23
...
2,597
2,534
4991496.SQ.FTS.B,
Zero
Cpn,
8/13/23
...
5,278
5,019
4991536.SQ.FTS.B,
Zero
Cpn,
8/13/23
...
12,016
11,659
4992363.SQ.FTS.B,
Zero
Cpn,
8/14/23
...
13,560
12,255
4992534.SQ.FTS.B,
Zero
Cpn,
8/14/23
...
4,883
4,526
4992621.SQ.FTS.B,
Zero
Cpn,
8/14/23
...
2,679
2,588
4992687.SQ.FTS.B,
Zero
Cpn,
8/14/23
...
976
950
4992698.SQ.FTS.B,
Zero
Cpn,
8/14/23
...
4,845
4,692
4992755.SQ.FTS.B,
Zero
Cpn,
8/14/23
...
1,136
1,080
4992780.SQ.FTS.B,
Zero
Cpn,
8/14/23
...
425
410
4992796.SQ.FTS.B,
Zero
Cpn,
8/14/23
...
6,883
6,564
4993022.SQ.FTS.B,
Zero
Cpn,
8/14/23
...
997
969
4993039.SQ.FTS.B,
Zero
Cpn,
8/14/23
...
2,115
1,965
4993042.SQ.FTS.B,
Zero
Cpn,
8/14/23
...
10,362
9,874
4993212.SQ.FTS.B,
Zero
Cpn,
8/14/23
...
1,248
1,177
4993303.SQ.FTS.B,
Zero
Cpn,
8/14/23
...
2,477
2,401
4993361.SQ.FTS.B,
Zero
Cpn,
8/14/23
...
13,785
12,731
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
58
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
4993701.SQ.FTS.B,
Zero
Cpn,
8/14/23
...
$
473
$
462
4993714.SQ.FTS.B,
Zero
Cpn,
8/14/23
...
335
320
4993828.SQ.FTS.B,
Zero
Cpn,
8/14/23
...
6,249
5,952
4994011.SQ.FTS.B,
Zero
Cpn,
8/14/23
...
4,626
4,490
4994055.SQ.FTS.B,
Zero
Cpn,
8/14/23
...
12,888
12,536
4994516.SQ.FTS.B,
Zero
Cpn,
8/14/23
...
1,173
1,148
4994535.SQ.FTS.B,
Zero
Cpn,
8/14/23
...
8,982
8,772
4994655.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
5,337
5,181
4994949.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
169
161
4994954.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
319
312
4994973.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
268
231
4994974.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
2,516
2,370
4995008.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
20,434
18,076
4995212.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
980
959
4995235.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
2,945
2,850
4995302.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
2,390
2,305
4995431.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
6,247
2,638
4995583.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
2,417
2,357
4996413.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
3,863
3,511
4998810.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
2,156
2,100
4999206.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
12,875
12,564
4999973.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
3,439
3,330
5000187.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
3,528
3,259
5000337.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
1,834
1,788
5000435.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
116
114
5000580.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
2,190
2,135
5000758.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
429
410
5000795.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
87
85
5000825.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
758
739
5000869.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
11,267
11,001
5001697.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
8,154
7,771
5002021.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
2,092
2,040
5002123.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
2,355
2,069
5002242.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
1,619
1,544
5002333.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
2,169
2,112
5002591.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
478
462
5002671.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
410
354
5003039.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
1,440
1,407
5003474.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
8,380
7,794
5003829.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
1,704
1,658
5003901.SQ.FTS.B,
Zero
Cpn,
8/15/23
...
26,224
25,584
5004424.SQ.FTS.B,
Zero
Cpn,
8/16/23
...
1,966
1,707
5004476.SQ.FTS.B,
Zero
Cpn,
8/16/23
...
752
514
5004509.SQ.FTS.B,
Zero
Cpn,
8/16/23
...
4,942
4,802
5004686.SQ.FTS.B,
Zero
Cpn,
8/16/23
...
1,795
1,263
5005109.SQ.FTS.B,
Zero
Cpn,
8/16/23
...
10,949
10,657
5005723.SQ.FTS.B,
Zero
Cpn,
8/16/23
...
7,033
6,898
5006625.SQ.FTS.B,
Zero
Cpn,
8/16/23
...
1,955
1,784
5006699.SQ.FTS.B,
Zero
Cpn,
8/16/23
...
742
718
5006903.SQ.FTS.B,
Zero
Cpn,
8/16/23
...
580
564
5006932.SQ.FTS.B,
Zero
Cpn,
8/16/23
...
4,529
4,399
5007025.SQ.FTS.B,
Zero
Cpn,
8/16/23
...
1,518
1,447
5007046.SQ.FTS.B,
Zero
Cpn,
8/16/23
...
7,303
6,860
5007134.SQ.FTS.B,
Zero
Cpn,
8/16/23
...
5,709
5,585
5007365.SQ.FTS.B,
Zero
Cpn,
8/16/23
...
4,974
4,828
5007574.SQ.FTS.B,
Zero
Cpn,
8/16/23
...
1,962
1,853
5007682.SQ.FTS.B,
Zero
Cpn,
8/16/23
...
1,198
1,158
5007783.SQ.FTS.B,
Zero
Cpn,
8/16/23
...
169
166
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5007978.SQ.FTS.B,
Zero
Cpn,
8/16/23
...
$
123
$
121
5007997.SQ.FTS.B,
Zero
Cpn,
8/16/23
...
6,652
6,402
5008066.SQ.FTS.B,
Zero
Cpn,
8/16/23
...
7,953
7,678
5008325.SQ.FTS.B,
Zero
Cpn,
8/16/23
...
35,007
33,645
5015714.SQ.FTS.B,
Zero
Cpn,
8/17/23
...
4,341
3,771
5015739.SQ.FTS.B,
Zero
Cpn,
8/17/23
...
6,044
5,535
5015820.SQ.FTS.B,
Zero
Cpn,
8/17/23
...
1,671
1,628
5015843.SQ.FTS.B,
Zero
Cpn,
8/17/23
...
2,055
1,995
5015896.SQ.FTS.B,
Zero
Cpn,
8/17/23
...
3,209
3,135
5015943.SQ.FTS.B,
Zero
Cpn,
8/17/23
...
9,514
8,479
5016072.SQ.FTS.B,
Zero
Cpn,
8/17/23
...
6,530
4,967
5016260.SQ.FTS.B,
Zero
Cpn,
8/17/23
...
1,826
1,775
5016318.SQ.FTS.B,
Zero
Cpn,
8/17/23
...
3,172
2,970
5016548.SQ.FTS.B,
Zero
Cpn,
8/17/23
...
1,284
1,224
5016847.SQ.FTS.B,
Zero
Cpn,
8/17/23
...
2,665
2,603
5017473.SQ.FTS.B,
Zero
Cpn,
8/17/23
...
678
660
5017533.SQ.FTS.B,
Zero
Cpn,
8/17/23
...
2,750
2,672
5017742.SQ.FTS.B,
Zero
Cpn,
8/17/23
...
4,246
4,127
5017858.SQ.FTS.B,
Zero
Cpn,
8/17/23
...
2,370
2,294
5017920.SQ.FTS.B,
Zero
Cpn,
8/17/23
...
486
461
5017936.SQ.FTS.B,
Zero
Cpn,
8/17/23
...
4,806
4,640
5018062.SQ.FTS.B,
Zero
Cpn,
8/17/23
...
569
558
5018114.SQ.FTS.B,
Zero
Cpn,
8/17/23
...
9,884
9,596
5018400.SQ.FTS.B,
Zero
Cpn,
8/17/23
...
5,191
4,200
5019061.SQ.FTS.B,
Zero
Cpn,
8/17/23
...
2,224
2,177
5019129.SQ.FTS.B,
Zero
Cpn,
8/17/23
...
436
425
5019136.SQ.FTS.B,
Zero
Cpn,
8/17/23
...
2,689
2,567
5019199.SQ.FTS.B,
Zero
Cpn,
8/17/23
...
529
507
5019310.SQ.FTS.B,
Zero
Cpn,
8/17/23
...
444
393
5019332.SQ.FTS.B,
Zero
Cpn,
8/17/23
...
8,241
7,981
5019624.SQ.FTS.B,
Zero
Cpn,
8/17/23
...
409
383
5019644.SQ.FTS.B,
Zero
Cpn,
8/17/23
...
2,074
2,011
5019704.SQ.FTS.B,
Zero
Cpn,
8/17/23
...
32,330
28,733
5020371.SQ.FTS.B,
Zero
Cpn,
8/18/23
...
2,413
2,364
5020493.SQ.FTS.B,
Zero
Cpn,
8/18/23
...
2,426
2,373
5020597.SQ.FTS.B,
Zero
Cpn,
8/18/23
...
2,584
2,422
5020626.SQ.FTS.B,
Zero
Cpn,
8/18/23
...
46,454
45,106
5022957.SQ.FTS.B,
Zero
Cpn,
8/18/23
...
1,620
1,578
5023114.SQ.FTS.B,
Zero
Cpn,
8/18/23
...
563
503
5023148.SQ.FTS.B,
Zero
Cpn,
8/18/23
...
2,817
2,653
5023411.SQ.FTS.B,
Zero
Cpn,
8/18/23
...
1,178
487
5023445.SQ.FTS.B,
Zero
Cpn,
8/18/23
...
21,408
20,898
5024292.SQ.FTS.B,
Zero
Cpn,
8/18/23
...
12,211
11,882
5024633.SQ.FTS.B,
Zero
Cpn,
8/18/23
...
1,211
1,178
5024677.SQ.FTS.B,
Zero
Cpn,
8/18/23
...
569
504
5024778.SQ.FTS.B,
Zero
Cpn,
8/18/23
...
22,553
22,002
5025542.SQ.FTS.B,
Zero
Cpn,
8/18/23
...
12,193
11,831
5025721.SQ.FTS.B,
Zero
Cpn,
8/18/23
...
3,099
2,921
5025752.SQ.FTS.B,
Zero
Cpn,
8/19/23
...
6,406
1,657
5025775.SQ.FTS.B,
Zero
Cpn,
8/19/23
...
1,894
1,851
5025781.SQ.FTS.B,
Zero
Cpn,
8/19/23
...
2,437
2,344
5025789.SQ.FTS.B,
Zero
Cpn,
8/19/23
...
3,810
3,685
5025806.SQ.FTS.B,
Zero
Cpn,
8/19/23
...
15,525
15,040
5025882.SQ.FTS.B,
Zero
Cpn,
8/19/23
...
2,806
1,492
5025902.SQ.FTS.B,
Zero
Cpn,
8/19/23
...
16,723
10,242
5025991.SQ.FTS.B,
Zero
Cpn,
8/19/23
...
691
674
5025997.SQ.FTS.B,
Zero
Cpn,
8/19/23
...
980
963
5026234.SQ.FTS.B,
Zero
Cpn,
8/19/23
...
2,582
2,425
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
59
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5026295.SQ.FTS.B,
Zero
Cpn,
8/19/23
...
$
1,180
$
1,158
5026320.SQ.FTS.B,
Zero
Cpn,
8/19/23
...
9,904
9,326
5026383.SQ.FTS.B,
Zero
Cpn,
8/19/23
...
1,748
1,104
5026388.SQ.FTS.B,
Zero
Cpn,
8/19/23
...
755
707
5026482.SQ.FTS.B,
Zero
Cpn,
8/20/23
...
56
55
5026490.SQ.FTS.B,
Zero
Cpn,
8/20/23
...
464
455
5026514.SQ.FTS.B,
Zero
Cpn,
8/20/23
...
10,950
10,524
5026712.SQ.FTS.B,
Zero
Cpn,
8/20/23
...
4,686
4,565
5026819.SQ.FTS.B,
Zero
Cpn,
8/20/23
...
1,554
1,514
5026923.SQ.FTS.B,
Zero
Cpn,
8/20/23
...
1,274
1,021
5026934.SQ.FTS.B,
Zero
Cpn,
8/21/23
...
2,878
1,582
5027018.SQ.FTS.B,
Zero
Cpn,
8/21/23
...
5,750
5,035
5027186.SQ.FTS.B,
Zero
Cpn,
8/21/23
...
9,541
9,233
5027281.SQ.FTS.B,
Zero
Cpn,
8/21/23
...
1,540
1,492
5027296.SQ.FTS.B,
Zero
Cpn,
8/21/23
...
1,237
1,202
5027306.SQ.FTS.B,
Zero
Cpn,
8/21/23
...
2,868
2,212
5027325.SQ.FTS.B,
Zero
Cpn,
8/21/23
...
435
420
5027341.SQ.FTS.B,
Zero
Cpn,
8/21/23
...
2,523
2,458
5027359.SQ.FTS.B,
Zero
Cpn,
8/21/23
...
2,252
2,179
5027373.SQ.FTS.B,
Zero
Cpn,
8/21/23
...
8,844
4,676
5027411.SQ.FTS.B,
Zero
Cpn,
8/21/23
...
1,269
1,196
5027436.SQ.FTS.B,
Zero
Cpn,
8/21/23
...
2,496
2,420
5027483.SQ.FTS.B,
Zero
Cpn,
8/21/23
...
1,198
1,166
5027541.SQ.FTS.B,
Zero
Cpn,
8/21/23
...
6,549
6,154
5027597.SQ.FTS.B,
Zero
Cpn,
8/21/23
...
3,929
3,822
5027654.SQ.FTS.B,
Zero
Cpn,
8/21/23
...
877
858
5027663.SQ.FTS.B,
Zero
Cpn,
8/21/23
...
5,406
5,256
5027718.SQ.FTS.B,
Zero
Cpn,
8/21/23
...
3,603
3,506
5027897.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
1,709
1,135
5027903.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
1,111
1,040
5027987.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
3,492
3,392
5028223.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
5,343
5,184
5028492.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
14,906
14,544
5029672.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
1,701
1,597
5029950.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
2,046
1,982
5030021.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
521
462
5030030.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
4,583
4,480
5030266.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
1,072
1,011
5030309.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
2,776
2,686
5030365.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
2,883
2,513
5030392.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
7,642
7,415
5030574.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
2,167
2,091
5030640.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
4,449
4,346
5030759.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
686
673
5030831.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
5,213
2,334
5030905.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
1,010
991
5030956.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
137
134
5030958.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
539
522
5031131.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
611
564
5031140.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
8,421
8,187
5031253.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
1,415
1,188
5031312.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
1,916
1,868
5031370.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
1,100
1,071
5031402.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
2,414
2,355
5031471.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
5,258
3,059
5031503.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
5,135
4,049
5031582.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
1,294
1,271
5031708.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
4,428
4,278
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5031927.SQ.FTS.B,
Zero
Cpn,
8/22/23
...
$
7,667
$
6,367
5031999.SQ.FTS.B,
Zero
Cpn,
8/23/23
...
3,470
3,380
5032102.SQ.FTS.B,
Zero
Cpn,
8/23/23
...
14,975
13,957
5032361.SQ.FTS.B,
Zero
Cpn,
8/23/23
...
3,220
3,144
5032478.SQ.FTS.B,
Zero
Cpn,
8/23/23
...
21,203
20,637
5032929.SQ.FTS.B,
Zero
Cpn,
8/23/23
...
725
597
5032944.SQ.FTS.B,
Zero
Cpn,
8/23/23
...
786
731
5033014.SQ.FTS.B,
Zero
Cpn,
8/23/23
...
1,942
1,866
5033148.SQ.FTS.B,
Zero
Cpn,
8/23/23
...
519
440
5033157.SQ.FTS.B,
Zero
Cpn,
8/23/23
...
4,114
3,761
5033875.SQ.FTS.B,
Zero
Cpn,
8/23/23
...
1,084
1,039
5033958.SQ.FTS.B,
Zero
Cpn,
8/23/23
...
1,164
1,127
5033997.SQ.FTS.B,
Zero
Cpn,
8/23/23
...
5,605
5,450
5034297.SQ.FTS.B,
Zero
Cpn,
8/23/23
...
4,735
4,036
5034599.SQ.FTS.B,
Zero
Cpn,
8/23/23
...
28,600
27,913
5035300.SQ.FTS.B,
Zero
Cpn,
8/23/23
...
13,170
11,536
5035401.SQ.FTS.B,
Zero
Cpn,
8/23/23
...
19,384
18,877
5035652.SQ.FTS.B,
Zero
Cpn,
8/23/23
...
987
959
5035669.SQ.FTS.B,
Zero
Cpn,
8/23/23
...
3,399
1,955
5035713.SQ.FTS.B,
Zero
Cpn,
8/23/23
...
46,958
44,236
5036110.SQ.FTS.B,
Zero
Cpn,
8/23/23
...
3,599
3,454
5037757.SQ.FTS.B,
Zero
Cpn,
8/24/23
...
3,347
3,260
5037826.SQ.FTS.B,
Zero
Cpn,
8/24/23
...
2,523
2,346
5037853.SQ.FTS.B,
Zero
Cpn,
8/24/23
...
962
919
5037877.SQ.FTS.B,
Zero
Cpn,
8/24/23
...
35,693
34,617
5038445.SQ.FTS.B,
Zero
Cpn,
8/24/23
...
1,832
1,759
5038467.SQ.FTS.B,
Zero
Cpn,
8/24/23
...
9,289
8,792
5038650.SQ.FTS.B,
Zero
Cpn,
8/24/23
...
3,139
3,045
5038686.SQ.FTS.B,
Zero
Cpn,
8/24/23
...
7,778
7,136
5038825.SQ.FTS.B,
Zero
Cpn,
8/24/23
...
2,521
2,460
5038904.SQ.FTS.B,
Zero
Cpn,
8/24/23
...
10,172
7,899
5039021.SQ.FTS.B,
Zero
Cpn,
8/24/23
...
2,663
2,605
5039090.SQ.FTS.B,
Zero
Cpn,
8/24/23
...
85,956
62,889
5039798.SQ.FTS.B,
Zero
Cpn,
8/24/23
...
9,209
8,993
5040123.SQ.FTS.B,
Zero
Cpn,
8/24/23
...
4,292
4,103
5040180.SQ.FTS.B,
Zero
Cpn,
8/24/23
...
2,739
2,663
5040203.SQ.FTS.B,
Zero
Cpn,
8/24/23
...
7,941
7,605
5040322.SQ.FTS.B,
Zero
Cpn,
8/24/23
...
408
396
5040636.SQ.FTS.B,
Zero
Cpn,
8/25/23
...
1,393
1,350
5040793.SQ.FTS.B,
Zero
Cpn,
8/25/23
...
404
386
5040803.SQ.FTS.B,
Zero
Cpn,
8/25/23
...
101
99
5040822.SQ.FTS.B,
Zero
Cpn,
8/25/23
...
2,519
2,448
5040879.SQ.FTS.B,
Zero
Cpn,
8/25/23
...
9,805
8,879
5041019.SQ.FTS.B,
Zero
Cpn,
8/25/23
...
1,091
1,065
5041029.SQ.FTS.B,
Zero
Cpn,
8/25/23
...
7,493
7,269
5041133.SQ.FTS.B,
Zero
Cpn,
8/25/23
...
1,864
1,808
5041226.SQ.FTS.B,
Zero
Cpn,
8/25/23
...
542
515
5041405.SQ.FTS.B,
Zero
Cpn,
8/25/23
...
3,469
3,321
5041520.SQ.FTS.B,
Zero
Cpn,
8/25/23
...
4,493
4,382
5041812.SQ.FTS.B,
Zero
Cpn,
8/25/23
...
977
953
5041851.SQ.FTS.B,
Zero
Cpn,
8/25/23
...
1,207
1,169
5042043.SQ.FTS.B,
Zero
Cpn,
8/25/23
...
298
293
5042065.SQ.FTS.B,
Zero
Cpn,
8/25/23
...
1,312
1,195
5042089.SQ.FTS.B,
Zero
Cpn,
8/25/23
...
898
798
5042100.SQ.FTS.B,
Zero
Cpn,
8/25/23
...
16,540
16,155
5042510.SQ.FTS.B,
Zero
Cpn,
8/25/23
...
4,716
3,543
5042646.SQ.FTS.B,
Zero
Cpn,
8/25/23
...
4,488
4,366
5042757.SQ.FTS.B,
Zero
Cpn,
8/25/23
...
31,590
30,066
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
60
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5043135.SQ.FTS.B,
Zero
Cpn,
8/25/23
...
$
1,554
$
1,500
5043156.SQ.FTS.B,
Zero
Cpn,
8/25/23
...
1,441
1,392
5043177.SQ.FTS.B,
Zero
Cpn,
8/25/23
...
1,859
1,811
5043195.SQ.FTS.B,
Zero
Cpn,
8/25/23
...
4,351
4,233
5043273.SQ.FTS.B,
Zero
Cpn,
8/25/23
...
1,257
1,227
5043279.SQ.FTS.B,
Zero
Cpn,
8/25/23
...
1,522
1,485
5043297.SQ.FTS.B,
Zero
Cpn,
8/25/23
...
28,715
23,257
5043427.SQ.FTS.B,
Zero
Cpn,
8/26/23
...
11,971
11,631
5043528.SQ.FTS.B,
Zero
Cpn,
8/26/23
...
915
890
5043542.SQ.FTS.B,
Zero
Cpn,
8/26/23
...
6,403
6,071
5043696.SQ.FTS.B,
Zero
Cpn,
8/26/23
...
4,702
4,569
5043747.SQ.FTS.B,
Zero
Cpn,
8/26/23
...
4,941
4,779
5043874.SQ.FTS.B,
Zero
Cpn,
8/26/23
...
835
818
5043906.SQ.FTS.B,
Zero
Cpn,
8/26/23
...
1,541
1,502
5043938.SQ.FTS.B,
Zero
Cpn,
8/26/23
...
8,804
8,564
5044057.SQ.FTS.B,
Zero
Cpn,
8/27/23
...
1,381
1,342
5044089.SQ.FTS.B,
Zero
Cpn,
8/27/23
...
4,035
3,905
5044123.SQ.FTS.B,
Zero
Cpn,
8/27/23
...
816
799
5044146.SQ.FTS.B,
Zero
Cpn,
8/27/23
...
1,098
1,063
5044176.SQ.FTS.B,
Zero
Cpn,
8/27/23
...
949
696
5044194.SQ.FTS.B,
Zero
Cpn,
8/27/23
...
2,733
2,653
5044227.SQ.FTS.B,
Zero
Cpn,
8/27/23
...
2,146
2,091
5044258.SQ.FTS.B,
Zero
Cpn,
8/27/23
...
11,423
11,143
5044404.SQ.FTS.B,
Zero
Cpn,
8/27/23
...
1,999
1,006
5044414.SQ.FTS.B,
Zero
Cpn,
8/27/23
...
7,471
7,277
5044530.SQ.FTS.B,
Zero
Cpn,
8/27/23
...
4,886
4,751
5044623.SQ.FTS.B,
Zero
Cpn,
8/27/23
...
8,265
8,012
5044794.SQ.FTS.B,
Zero
Cpn,
8/28/23
...
6,048
5,196
5045305.SQ.FTS.B,
Zero
Cpn,
8/28/23
...
2,971
2,881
5045548.SQ.FTS.B,
Zero
Cpn,
8/28/23
...
404
253
5045662.SQ.FTS.B,
Zero
Cpn,
8/28/23
...
2,040
932
5045690.SQ.FTS.B,
Zero
Cpn,
8/28/23
...
960
920
5045751.SQ.FTS.B,
Zero
Cpn,
8/28/23
...
1,976
1,934
5045863.SQ.FTS.B,
Zero
Cpn,
8/28/23
...
925
710
5045875.SQ.FTS.B,
Zero
Cpn,
8/28/23
...
3,624
3,504
5045925.SQ.FTS.B,
Zero
Cpn,
8/28/23
...
1,999
1,948
5045958.SQ.FTS.B,
Zero
Cpn,
8/28/23
...
2,484
2,405
5046136.SQ.FTS.B,
Zero
Cpn,
8/28/23
...
3,991
3,865
5047252.SQ.FTS.B,
Zero
Cpn,
8/28/23
...
2,773
2,702
5047314.SQ.FTS.B,
Zero
Cpn,
8/28/23
...
751
504
5047321.SQ.FTS.B,
Zero
Cpn,
8/28/23
...
6,148
5,732
5047433.SQ.FTS.B,
Zero
Cpn,
8/28/23
...
1,317
1,262
5047455.SQ.FTS.B,
Zero
Cpn,
8/28/23
...
1,124
1,084
5047878.SQ.FTS.B,
Zero
Cpn,
8/28/23
...
819
802
5047895.SQ.FTS.B,
Zero
Cpn,
8/28/23
...
1,153
1,121
5047948.SQ.FTS.B,
Zero
Cpn,
9/01/23
...
10,414
10,154
5048071.SQ.FTS.B,
Zero
Cpn,
9/01/23
...
2,960
2,643
5048154.SQ.FTS.B,
Zero
Cpn,
9/01/23
...
1,581
1,543
5048173.SQ.FTS.B,
Zero
Cpn,
9/01/23
...
4,702
4,501
5048221.SQ.FTS.B,
Zero
Cpn,
9/01/23
...
3,316
3,178
5048246.SQ.FTS.B,
Zero
Cpn,
9/01/23
...
8,160
7,913
5048359.SQ.FTS.B,
Zero
Cpn,
9/01/23
...
1,363
1,329
5048398.SQ.FTS.B,
Zero
Cpn,
9/01/23
...
14,841
13,770
5048582.SQ.FTS.B,
Zero
Cpn,
9/01/23
...
6,122
5,949
5048731.SQ.FTS.B,
Zero
Cpn,
9/01/23
...
3,532
3,432
5048815.SQ.FTS.B,
Zero
Cpn,
9/01/23
...
468
441
5048817.SQ.FTS.B,
Zero
Cpn,
9/01/23
...
930
855
5049555.SQ.FTS.B,
Zero
Cpn,
9/01/23
...
717
691
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5049681.SQ.FTS.B,
Zero
Cpn,
9/01/23
...
$
690
$
525
5049743.SQ.FTS.B,
Zero
Cpn,
9/01/23
...
5,353
5,237
5049867.SQ.FTS.B,
Zero
Cpn,
9/01/23
...
953
842
5049875.SQ.FTS.B,
Zero
Cpn,
9/01/23
...
2,579
1,944
5049899.SQ.FTS.B,
Zero
Cpn,
9/01/23
...
553
509
5049908.SQ.FTS.B,
Zero
Cpn,
9/01/23
...
35
34
5049935.SQ.FTS.B,
Zero
Cpn,
9/01/23
...
6,010
4,560
5050110.SQ.FTS.B,
Zero
Cpn,
9/01/23
...
836
746
5050115.SQ.FTS.B,
Zero
Cpn,
9/01/23
...
5,020
4,919
5050391.SQ.FTS.B,
Zero
Cpn,
9/01/23
...
384
314
5050394.SQ.FTS.B,
Zero
Cpn,
9/01/23
...
10,760
8,755
5050533.SQ.FTS.B,
Zero
Cpn,
9/01/23
...
8,583
8,355
5050682.SQ.FTS.B,
Zero
Cpn,
9/01/23
...
12,571
12,336
5051201.SQ.FTS.B,
Zero
Cpn,
9/02/23
...
5,076
4,931
5051259.SQ.FTS.B,
Zero
Cpn,
9/02/23
...
2,926
2,850
5051278.SQ.FTS.B,
Zero
Cpn,
9/02/23
...
5,210
5,072
5051326.SQ.FTS.B,
Zero
Cpn,
9/02/23
...
2,865
2,425
5051342.SQ.FTS.B,
Zero
Cpn,
9/02/23
...
7,140
6,895
5051410.SQ.FTS.B,
Zero
Cpn,
9/02/23
...
52
52
5051453.SQ.FTS.B,
Zero
Cpn,
9/02/23
...
7,680
7,467
5051523.SQ.FTS.B,
Zero
Cpn,
9/02/23
...
1,854
1,793
5051538.SQ.FTS.B,
Zero
Cpn,
9/02/23
...
764
564
5051546.SQ.FTS.B,
Zero
Cpn,
9/02/23
...
21,880
21,369
5051850.SQ.FTS.B,
Zero
Cpn,
9/02/23
...
2,596
2,506
5051869.SQ.FTS.B,
Zero
Cpn,
9/02/23
...
710
692
5051875.SQ.FTS.B,
Zero
Cpn,
9/02/23
...
22,857
22,075
5052420.SQ.FTS.B,
Zero
Cpn,
9/02/23
...
1,249
1,210
5052776.SQ.FTS.B,
Zero
Cpn,
9/02/23
...
846
801
5052788.SQ.FTS.B,
Zero
Cpn,
9/02/23
...
914
899
5052934.SQ.FTS.B,
Zero
Cpn,
9/02/23
...
4,658
4,543
5053149.SQ.FTS.B,
Zero
Cpn,
9/02/23
...
588
577
5053205.SQ.FTS.B,
Zero
Cpn,
9/02/23
...
11,083
10,535
5053322.SQ.FTS.B,
Zero
Cpn,
9/02/23
...
1,443
1,405
5053352.SQ.FTS.B,
Zero
Cpn,
9/02/23
...
2,099
2,060
5053677.SQ.FTS.B,
Zero
Cpn,
9/02/23
...
3,580
3,470
5053755.SQ.FTS.B,
Zero
Cpn,
9/02/23
...
4,147
4,045
5053830.SQ.FTS.B,
Zero
Cpn,
9/02/23
...
2,398
2,334
5053860.SQ.FTS.B,
Zero
Cpn,
9/02/23
...
8,025
7,754
5053940.SQ.FTS.B,
Zero
Cpn,
9/02/23
...
1,425
1,073
5053958.SQ.FTS.B,
Zero
Cpn,
9/02/23
...
1,698
1,649
5053995.SQ.FTS.B,
Zero
Cpn,
9/02/23
...
19,472
18,870
5055853.SQ.FTS.B,
Zero
Cpn,
9/03/23
...
2,456
2,390
5055908.SQ.FTS.B,
Zero
Cpn,
9/03/23
...
3,095
3,033
5055994.SQ.FTS.B,
Zero
Cpn,
9/03/23
...
4,252
4,005
5056046.SQ.FTS.B,
Zero
Cpn,
9/03/23
...
1,688
1,632
5056067.SQ.FTS.B,
Zero
Cpn,
9/03/23
...
3,705
3,547
5056094.SQ.FTS.B,
Zero
Cpn,
9/03/23
...
2,732
2,674
5056154.SQ.FTS.B,
Zero
Cpn,
9/03/23
...
5,830
4,767
5056268.SQ.FTS.B,
Zero
Cpn,
9/03/23
...
4,546
4,412
5056366.SQ.FTS.B,
Zero
Cpn,
9/03/23
...
1,014
843
5056393.SQ.FTS.B,
Zero
Cpn,
9/03/23
...
11,102
10,779
5056855.SQ.FTS.B,
Zero
Cpn,
9/03/23
...
1,796
1,630
5056932.SQ.FTS.B,
Zero
Cpn,
9/03/23
...
523
465
5056944.SQ.FTS.B,
Zero
Cpn,
9/03/23
...
2,566
2,459
5057030.SQ.FTS.B,
Zero
Cpn,
9/03/23
...
569
558
5057130.SQ.FTS.B,
Zero
Cpn,
9/03/23
...
12,911
12,490
5057308.SQ.FTS.B,
Zero
Cpn,
9/03/23
...
499
486
5057343.SQ.FTS.B,
Zero
Cpn,
9/03/23
...
2,189
1,804
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
61
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5057830.SQ.FTS.B,
Zero
Cpn,
9/03/23
...
$
1,340
$
1,308
5058129.SQ.FTS.B,
Zero
Cpn,
9/03/23
...
2,940
2,837
5058187.SQ.FTS.B,
Zero
Cpn,
9/03/23
...
3,138
2,987
5058247.SQ.FTS.B,
Zero
Cpn,
9/03/23
...
622
605
5058332.SQ.FTS.B,
Zero
Cpn,
9/03/23
...
2,185
2,122
5058369.SQ.FTS.B,
Zero
Cpn,
9/03/23
...
1,299
1,245
5058414.SQ.FTS.B,
Zero
Cpn,
9/03/23
...
794
776
5058435.SQ.FTS.B,
Zero
Cpn,
9/03/23
...
8,071
7,760
5059251.SQ.FTS.B,
Zero
Cpn,
9/04/23
...
7,440
7,253
5059326.SQ.FTS.B,
Zero
Cpn,
9/04/23
...
13,048
8,141
5059404.SQ.FTS.B,
Zero
Cpn,
9/04/23
...
1,076
1,053
5059427.SQ.FTS.B,
Zero
Cpn,
9/04/23
...
2,161
2,075
5059478.SQ.FTS.B,
Zero
Cpn,
9/04/23
...
5,390
4,751
5059516.SQ.FTS.B,
Zero
Cpn,
9/04/23
...
12,072
11,799
5059902.SQ.FTS.B,
Zero
Cpn,
9/04/23
...
7,667
7,506
5060096.SQ.FTS.B,
Zero
Cpn,
9/04/23
...
2,096
2,039
5060164.SQ.FTS.B,
Zero
Cpn,
9/04/23
...
1,700
1,609
5060312.SQ.FTS.B,
Zero
Cpn,
9/04/23
...
10,746
10,468
5060578.SQ.FTS.B,
Zero
Cpn,
9/04/23
...
4,337
4,151
5060628.SQ.FTS.B,
Zero
Cpn,
9/04/23
...
438
361
5060641.SQ.FTS.B,
Zero
Cpn,
9/04/23
...
29,036
26,500
5060881.SQ.FTS.B,
Zero
Cpn,
9/04/23
...
2,919
2,850
5060970.SQ.FTS.B,
Zero
Cpn,
9/04/23
...
4,811
4,310
5061190.SQ.FTS.B,
Zero
Cpn,
9/04/23
...
6,876
6,646
5061493.SQ.FTS.B,
Zero
Cpn,
9/04/23
...
4,793
4,479
5061524.SQ.FTS.B,
Zero
Cpn,
9/05/23
...
680
662
5061544.SQ.FTS.B,
Zero
Cpn,
9/05/23
...
16,763
15,936
5061643.SQ.FTS.B,
Zero
Cpn,
9/05/23
...
7,321
7,007
5061692.SQ.FTS.B,
Zero
Cpn,
9/05/23
...
5,432
5,262
5061739.SQ.FTS.B,
Zero
Cpn,
9/05/23
...
1,589
1,553
5062017.SQ.FTS.B,
Zero
Cpn,
9/05/23
...
8,810
8,562
5062120.SQ.FTS.B,
Zero
Cpn,
9/05/23
...
888
849
5062178.SQ.FTS.B,
Zero
Cpn,
9/05/23
...
2,022
1,953
5062197.SQ.FTS.B,
Zero
Cpn,
9/05/23
...
800
613
5062206.SQ.FTS.B,
Zero
Cpn,
9/05/23
...
6,478
6,319
5062281.SQ.FTS.B,
Zero
Cpn,
9/05/23
...
1,908
1,857
5062300.SQ.FTS.B,
Zero
Cpn,
9/06/23
...
2,650
2,060
5062318.SQ.FTS.B,
Zero
Cpn,
9/06/23
...
1,221
1,144
5062332.SQ.FTS.B,
Zero
Cpn,
9/06/23
...
587
574
5062340.SQ.FTS.B,
Zero
Cpn,
9/06/23
...
2,535
1,960
5062352.SQ.FTS.B,
Zero
Cpn,
9/06/23
...
1,136
1,076
5062364.SQ.FTS.B,
Zero
Cpn,
9/06/23
...
12,783
12,432
5062512.SQ.FTS.B,
Zero
Cpn,
9/06/23
...
3,648
2,814
5062559.SQ.FTS.B,
Zero
Cpn,
9/06/23
...
713
696
5062578.SQ.FTS.B,
Zero
Cpn,
9/06/23
...
7,116
6,846
5062652.SQ.FTS.B,
Zero
Cpn,
9/06/23
...
6,061
3,975
5062693.SQ.FTS.B,
Zero
Cpn,
9/06/23
...
963
916
5062710.SQ.FTS.B,
Zero
Cpn,
9/06/23
...
3,654
3,502
5062755.SQ.FTS.B,
Zero
Cpn,
9/06/23
...
1,754
1,598
5062835.SQ.FTS.B,
Zero
Cpn,
9/06/23
...
1,684
1,630
5062859.SQ.FTS.B,
Zero
Cpn,
9/06/23
...
149
146
5062871.SQ.FTS.B,
Zero
Cpn,
9/06/23
...
1,935
1,801
5062904.SQ.FTS.B,
Zero
Cpn,
9/06/23
...
8,697
8,515
5063620.SQ.FTS.B,
Zero
Cpn,
9/07/23
...
5,676
5,470
5063741.SQ.FTS.B,
Zero
Cpn,
9/07/23
...
4,347
4,112
5063823.SQ.FTS.B,
Zero
Cpn,
9/07/23
...
1,022
979
5063860.SQ.FTS.B,
Zero
Cpn,
9/07/23
...
7,916
7,065
5064390.SQ.FTS.B,
Zero
Cpn,
9/07/23
...
4,372
4,244
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5064502.SQ.FTS.B,
Zero
Cpn,
9/07/23
...
$
873
$
795
5064535.SQ.FTS.B,
Zero
Cpn,
9/07/23
...
2,229
2,170
5064600.SQ.FTS.B,
Zero
Cpn,
9/07/23
...
1,312
1,270
5064839.SQ.FTS.B,
Zero
Cpn,
9/07/23
...
3,616
3,316
5064875.SQ.FTS.B,
Zero
Cpn,
9/07/23
...
4,356
4,284
5065106.SQ.FTS.B,
Zero
Cpn,
9/07/23
...
2,564
2,460
5065119.SQ.FTS.B,
Zero
Cpn,
9/07/23
...
4,041
3,941
5065174.SQ.FTS.B,
Zero
Cpn,
9/07/23
...
2,157
1,931
5065196.SQ.FTS.B,
Zero
Cpn,
9/07/23
...
13,548
11,194
5065301.SQ.FTS.B,
Zero
Cpn,
9/07/23
...
151
149
5065322.SQ.FTS.B,
Zero
Cpn,
9/07/23
...
851
833
5065349.SQ.FTS.B,
Zero
Cpn,
9/07/23
...
1,474
1,206
5065377.SQ.FTS.B,
Zero
Cpn,
9/07/23
...
1,738
1,681
5065404.SQ.FTS.B,
Zero
Cpn,
9/07/23
...
2,680
1,156
5065416.SQ.FTS.B,
Zero
Cpn,
9/07/23
...
3,852
3,691
5065516.SQ.FTS.B,
Zero
Cpn,
9/07/23
...
4,232
4,116
5065573.SQ.FTS.B,
Zero
Cpn,
9/07/23
...
2,367
2,117
5065655.SQ.FTS.B,
Zero
Cpn,
9/07/23
...
1,621
1,569
5065689.SQ.FTS.B,
Zero
Cpn,
9/07/23
...
5,132
4,887
5065780.SQ.FTS.B,
Zero
Cpn,
9/07/23
...
2,335
2,257
5065887.SQ.FTS.B,
Zero
Cpn,
9/07/23
...
876
839
5065943.SQ.FTS.B,
Zero
Cpn,
9/07/23
...
1,186
1,045
5065946.SQ.FTS.B,
Zero
Cpn,
9/07/23
...
53
52
5066006.SQ.FTS.B,
Zero
Cpn,
9/08/23
...
1,047
923
5066072.SQ.FTS.B,
Zero
Cpn,
9/08/23
...
1,776
1,626
5066115.SQ.FTS.B,
Zero
Cpn,
9/08/23
...
6,877
6,383
5066204.SQ.FTS.B,
Zero
Cpn,
9/08/23
...
22,695
21,709
5066377.SQ.FTS.B,
Zero
Cpn,
9/08/23
...
15,950
15,437
5066664.SQ.FTS.B,
Zero
Cpn,
9/08/23
...
2,030
1,975
5066705.SQ.FTS.B,
Zero
Cpn,
9/08/23
...
9,067
8,789
5066901.SQ.FTS.B,
Zero
Cpn,
9/08/23
...
1,754
1,707
5066925.SQ.FTS.B,
Zero
Cpn,
9/08/23
...
2,936
2,793
5067030.SQ.FTS.B,
Zero
Cpn,
9/08/23
...
16,857
16,053
5067225.SQ.FTS.B,
Zero
Cpn,
9/08/23
...
2,038
1,285
5067242.SQ.FTS.B,
Zero
Cpn,
9/08/23
...
5,392
5,099
5067365.SQ.FTS.B,
Zero
Cpn,
9/08/23
...
3,575
3,367
5067403.SQ.FTS.B,
Zero
Cpn,
9/08/23
...
11,004
8,688
5067489.SQ.FTS.B,
Zero
Cpn,
9/08/23
...
788
768
5067645.SQ.FTS.B,
Zero
Cpn,
9/08/23
...
1,658
1,592
5067694.SQ.FTS.B,
Zero
Cpn,
9/08/23
...
8,309
7,371
5067798.SQ.FTS.B,
Zero
Cpn,
9/08/23
...
8,622
8,357
5067945.SQ.FTS.B,
Zero
Cpn,
9/08/23
...
1,455
1,406
5067962.SQ.FTS.B,
Zero
Cpn,
9/08/23
...
2,475
2,192
5067982.SQ.FTS.B,
Zero
Cpn,
9/08/23
...
7,635
7,448
5068096.SQ.FTS.B,
Zero
Cpn,
9/08/23
...
5,529
5,356
5068158.SQ.FTS.B,
Zero
Cpn,
9/08/23
...
5,714
3,913
5068189.SQ.FTS.B,
Zero
Cpn,
9/08/23
...
25,502
24,655
5068551.SQ.FTS.B,
Zero
Cpn,
9/08/23
...
24,347
22,179
5068754.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
2,720
2,505
5068779.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
4,386
4,272
5068844.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
766
690
5068945.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
2,337
2,273
5069047.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
774
724
5069050.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
191
188
5069076.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
2,939
2,746
5069116.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
9,156
8,504
5069279.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
396
369
5069292.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
6,678
6,354
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
62
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5069462.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
$
11,190
$
10,297
5069695.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
14,356
12,927
5069848.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
137
133
5069886.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
6,039
5,841
5069952.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
4,698
4,505
5070016.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
2,001
1,963
5070132.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
2,423
2,320
5070178.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
7,419
7,126
5070321.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
538
517
5070366.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
1,038
1,014
5070434.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
202
197
5070445.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
1,677
1,628
5070480.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
934
909
5070497.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
1,160
1,133
5070538.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
5,126
4,994
5070638.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
5,111
3,919
5070695.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
4,583
4,461
5070759.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
3,568
3,422
5070803.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
2,867
2,800
5070878.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
455
444
5070882.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
668
630
5070900.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
10,146
9,764
5071139.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
26,302
23,876
5071324.SQ.FTS.B,
Zero
Cpn,
9/09/23
...
7,798
7,277
5072967.SQ.FTS.B,
Zero
Cpn,
9/10/23
...
2,183
1,399
5072985.SQ.FTS.B,
Zero
Cpn,
9/10/23
...
18,477
17,965
5073100.SQ.FTS.B,
Zero
Cpn,
9/10/23
...
3,183
3,090
5073115.SQ.FTS.B,
Zero
Cpn,
9/10/23
...
1,573
1,539
5073131.SQ.FTS.B,
Zero
Cpn,
9/10/23
...
5,618
4,977
5073332.SQ.FTS.B,
Zero
Cpn,
9/10/23
...
7,981
7,344
5073420.SQ.FTS.B,
Zero
Cpn,
9/10/23
...
2,054
1,623
5073441.SQ.FTS.B,
Zero
Cpn,
9/10/23
...
2,112
2,064
5073510.SQ.FTS.B,
Zero
Cpn,
9/10/23
...
4,350
4,205
5073629.SQ.FTS.B,
Zero
Cpn,
9/10/23
...
12,481
12,022
5073827.SQ.FTS.B,
Zero
Cpn,
9/10/23
...
1,395
1,248
5073853.SQ.FTS.B,
Zero
Cpn,
9/10/23
...
2,447
2,314
5073901.SQ.FTS.B,
Zero
Cpn,
9/10/23
...
3,721
3,654
5074149.SQ.FTS.B,
Zero
Cpn,
9/10/23
...
3,661
3,515
5074213.SQ.FTS.B,
Zero
Cpn,
9/10/23
...
4,668
4,543
5074442.SQ.FTS.B,
Zero
Cpn,
9/10/23
...
1,909
1,014
5074455.SQ.FTS.B,
Zero
Cpn,
9/10/23
...
2,050
1,696
5074507.SQ.FTS.B,
Zero
Cpn,
9/10/23
...
378
367
5074517.SQ.FTS.B,
Zero
Cpn,
9/10/23
...
3,872
3,650
5075119.SQ.FTS.B,
Zero
Cpn,
9/10/23
...
2,268
1,592
5075210.SQ.FTS.B,
Zero
Cpn,
9/10/23
...
7,153
6,867
5075254.SQ.FTS.B,
Zero
Cpn,
9/10/23
...
1,842
1,805
5075317.SQ.FTS.B,
Zero
Cpn,
9/10/23
...
2,381
2,297
5075354.SQ.FTS.B,
Zero
Cpn,
9/10/23
...
7,544
7,216
5075424.SQ.FTS.B,
Zero
Cpn,
9/10/23
...
2,500
1,756
5075477.SQ.FTS.B,
Zero
Cpn,
9/10/23
...
4,341
4,157
5075548.SQ.FTS.B,
Zero
Cpn,
9/10/23
...
5,321
5,127
5075619.SQ.FTS.B,
Zero
Cpn,
9/11/23
...
6,253
5,778
5075887.SQ.FTS.B,
Zero
Cpn,
9/11/23
...
3,806
3,611
5075923.SQ.FTS.B,
Zero
Cpn,
9/11/23
...
21,020
19,779
5076057.SQ.FTS.B,
Zero
Cpn,
9/11/23
...
3,590
3,467
5076150.SQ.FTS.B,
Zero
Cpn,
9/11/23
...
2,494
2,416
5076201.SQ.FTS.B,
Zero
Cpn,
9/11/23
...
9,103
8,835
5076391.SQ.FTS.B,
Zero
Cpn,
9/11/23
...
8,273
8,075
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5076644.SQ.FTS.B,
Zero
Cpn,
9/11/23
...
$
2,928
$
2,801
5076679.SQ.FTS.B,
Zero
Cpn,
9/11/23
...
5,714
5,464
5076760.SQ.FTS.B,
Zero
Cpn,
9/11/23
...
15,593
15,108
5077170.SQ.FTS.B,
Zero
Cpn,
9/11/23
...
535
525
5077184.SQ.FTS.B,
Zero
Cpn,
9/11/23
...
20,846
20,288
5077566.SQ.FTS.B,
Zero
Cpn,
9/11/23
...
328
321
5077583.SQ.FTS.B,
Zero
Cpn,
9/11/23
...
3,706
3,475
5077648.SQ.FTS.B,
Zero
Cpn,
9/11/23
...
439
430
5077673.SQ.FTS.B,
Zero
Cpn,
9/11/23
...
1,925
1,864
5077727.SQ.FTS.B,
Zero
Cpn,
9/11/23
...
2,607
2,318
5077768.SQ.FTS.B,
Zero
Cpn,
9/11/23
...
5,269
5,052
5077828.SQ.FTS.B,
Zero
Cpn,
9/11/23
...
404
396
5077855.SQ.FTS.B,
Zero
Cpn,
9/11/23
...
792
708
5077870.SQ.FTS.B,
Zero
Cpn,
9/11/23
...
2,575
2,461
5077899.SQ.FTS.B,
Zero
Cpn,
9/11/23
...
3,781
3,485
5077967.SQ.FTS.B,
Zero
Cpn,
9/11/23
...
3,334
3,233
5078033.SQ.FTS.B,
Zero
Cpn,
9/11/23
...
8,326
8,131
5078212.SQ.FTS.B,
Zero
Cpn,
9/12/23
...
6,440
6,014
5078291.SQ.FTS.B,
Zero
Cpn,
9/12/23
...
1,712
1,641
5078313.SQ.FTS.B,
Zero
Cpn,
9/12/23
...
199
188
5078321.SQ.FTS.B,
Zero
Cpn,
9/12/23
...
645
631
5078343.SQ.FTS.B,
Zero
Cpn,
9/12/23
...
2,141
1,918
5078362.SQ.FTS.B,
Zero
Cpn,
9/12/23
...
3,479
3,355
5078374.SQ.FTS.B,
Zero
Cpn,
9/12/23
...
4,362
4,185
5078425.SQ.FTS.B,
Zero
Cpn,
9/12/23
...
1,522
1,451
5078514.SQ.FTS.B,
Zero
Cpn,
9/12/23
...
3,460
3,264
5078579.SQ.FTS.B,
Zero
Cpn,
9/12/23
...
2,236
2,173
5078604.SQ.FTS.B,
Zero
Cpn,
9/12/23
...
14,357
13,773
5078751.SQ.FTS.B,
Zero
Cpn,
9/12/23
...
850
791
5079023.SQ.FTS.B,
Zero
Cpn,
9/13/23
...
4,034
3,912
5079074.SQ.FTS.B,
Zero
Cpn,
9/13/23
...
2,770
2,706
5079122.SQ.FTS.B,
Zero
Cpn,
9/13/23
...
10,132
9,867
5079259.SQ.FTS.B,
Zero
Cpn,
9/13/23
...
2,457
2,369
5079422.SQ.FTS.B,
Zero
Cpn,
9/13/23
...
10,285
8,800
5079504.SQ.FTS.B,
Zero
Cpn,
9/13/23
...
2,776
2,692
5080042.SQ.FTS.B,
Zero
Cpn,
9/14/23
...
609
558
5080059.SQ.FTS.B,
Zero
Cpn,
9/14/23
...
5,386
5,187
5080157.SQ.FTS.B,
Zero
Cpn,
9/14/23
...
2,555
2,483
5080222.SQ.FTS.B,
Zero
Cpn,
9/14/23
...
1,098
1,063
5080255.SQ.FTS.B,
Zero
Cpn,
9/14/23
...
393
352
5080265.SQ.FTS.B,
Zero
Cpn,
9/14/23
...
1,032
968
5080284.SQ.FTS.B,
Zero
Cpn,
9/14/23
...
3,088
2,767
5080376.SQ.FTS.B,
Zero
Cpn,
9/14/23
...
32,969
31,950
5080816.SQ.FTS.B,
Zero
Cpn,
9/14/23
...
3,914
3,312
5080875.SQ.FTS.B,
Zero
Cpn,
9/14/23
...
2,162
2,097
5080936.SQ.FTS.B,
Zero
Cpn,
9/14/23
...
7,671
7,362
5080993.SQ.FTS.B,
Zero
Cpn,
9/14/23
...
2,670
2,594
5081105.SQ.FTS.B,
Zero
Cpn,
9/14/23
...
8,146
5,850
5081144.SQ.FTS.B,
Zero
Cpn,
9/14/23
...
6,740
6,260
5081227.SQ.FTS.B,
Zero
Cpn,
9/14/23
...
23,218
20,705
5081512.SQ.FTS.B,
Zero
Cpn,
9/14/23
...
5,103
4,908
5081575.SQ.FTS.B,
Zero
Cpn,
9/14/23
...
3,643
3,508
5081612.SQ.FTS.B,
Zero
Cpn,
9/14/23
...
1,324
1,253
5081615.SQ.FTS.B,
Zero
Cpn,
9/14/23
...
573
504
5081691.SQ.FTS.B,
Zero
Cpn,
9/14/23
...
4,473
3,459
5081783.SQ.FTS.B,
Zero
Cpn,
9/14/23
...
2,833
2,724
5081854.SQ.FTS.B,
Zero
Cpn,
9/14/23
...
4,655
4,482
5081884.SQ.FTS.B,
Zero
Cpn,
9/14/23
...
3,068
2,966
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
63
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5081950.SQ.FTS.B,
Zero
Cpn,
9/14/23
...
$
8,362
$
6,956
5082026.SQ.FTS.B,
Zero
Cpn,
9/14/23
...
394
387
5082045.SQ.FTS.B,
Zero
Cpn,
9/14/23
...
15,792
15,172
5082283.SQ.FTS.B,
Zero
Cpn,
9/15/23
...
2,213
1,969
5082320.SQ.FTS.B,
Zero
Cpn,
9/15/23
...
6,520
6,361
5082432.SQ.FTS.B,
Zero
Cpn,
9/15/23
...
2,338
2,180
5082470.SQ.FTS.B,
Zero
Cpn,
9/15/23
...
1,625
1,576
5082495.SQ.FTS.B,
Zero
Cpn,
9/15/23
...
5,708
5,495
5082548.SQ.FTS.B,
Zero
Cpn,
9/15/23
...
764
747
5082571.SQ.FTS.B,
Zero
Cpn,
9/15/23
...
25,486
24,512
5083212.SQ.FTS.B,
Zero
Cpn,
9/15/23
...
1,667
1,630
5083247.SQ.FTS.B,
Zero
Cpn,
9/15/23
...
8,768
8,545
5083406.SQ.FTS.B,
Zero
Cpn,
9/15/23
...
8,520
8,287
5083575.SQ.FTS.B,
Zero
Cpn,
9/15/23
...
535
518
5083580.SQ.FTS.B,
Zero
Cpn,
9/15/23
...
1,374
1,337
5083630.SQ.FTS.B,
Zero
Cpn,
9/15/23
...
12,522
10,424
5083832.SQ.FTS.B,
Zero
Cpn,
9/15/23
...
3,592
3,470
5083873.SQ.FTS.B,
Zero
Cpn,
9/15/23
...
12,404
10,725
5084132.SQ.FTS.B,
Zero
Cpn,
9/15/23
...
63,863
61,498
5084771.SQ.FTS.B,
Zero
Cpn,
9/16/23
...
3,749
1,919
5084823.SQ.FTS.B,
Zero
Cpn,
9/16/23
...
766
744
5084843.SQ.FTS.B,
Zero
Cpn,
9/16/23
...
3,036
2,951
5084934.SQ.FTS.B,
Zero
Cpn,
9/16/23
...
33,929
23,100
5085081.SQ.FTS.B,
Zero
Cpn,
9/16/23
...
1,840
1,701
5085105.SQ.FTS.B,
Zero
Cpn,
9/16/23
...
3,705
3,582
5085148.SQ.FTS.B,
Zero
Cpn,
9/16/23
...
8,316
8,052
5085337.SQ.FTS.B,
Zero
Cpn,
9/16/23
...
4,894
4,643
5085496.SQ.FTS.B,
Zero
Cpn,
9/16/23
...
365
341
5085589.SQ.FTS.B,
Zero
Cpn,
9/16/23
...
6,381
5,834
5085736.SQ.FTS.B,
Zero
Cpn,
9/16/23
...
6,371
5,996
5085858.SQ.FTS.B,
Zero
Cpn,
9/16/23
...
891
779
5085865.SQ.FTS.B,
Zero
Cpn,
9/16/23
...
15,585
15,159
5086206.SQ.FTS.B,
Zero
Cpn,
9/16/23
...
2,623
2,030
5086243.SQ.FTS.B,
Zero
Cpn,
9/16/23
...
2,977
2,847
5086497.SQ.FTS.B,
Zero
Cpn,
9/16/23
...
3,372
2,984
5086589.SQ.FTS.B,
Zero
Cpn,
9/16/23
...
25,017
22,497
5087007.SQ.FTS.B,
Zero
Cpn,
9/16/23
...
5,690
5,546
5088456.SQ.FTS.B,
Zero
Cpn,
9/17/23
...
2,535
2,118
5088492.SQ.FTS.B,
Zero
Cpn,
9/17/23
...
2,391
2,331
5088565.SQ.FTS.B,
Zero
Cpn,
9/17/23
...
3,000
2,851
5088590.SQ.FTS.B,
Zero
Cpn,
9/17/23
...
4,416
4,166
5088691.SQ.FTS.B,
Zero
Cpn,
9/17/23
...
1,976
1,904
5088721.SQ.FTS.B,
Zero
Cpn,
9/17/23
...
11,810
11,541
5089238.SQ.FTS.B,
Zero
Cpn,
9/17/23
...
7,232
6,718
5089439.SQ.FTS.B,
Zero
Cpn,
9/17/23
...
3,394
3,265
5089493.SQ.FTS.B,
Zero
Cpn,
9/17/23
...
13,920
12,646
5089731.SQ.FTS.B,
Zero
Cpn,
9/17/23
...
1,902
1,844
5089773.SQ.FTS.B,
Zero
Cpn,
9/17/23
...
982
892
5089812.SQ.FTS.B,
Zero
Cpn,
9/17/23
...
4,554
4,392
5089873.SQ.FTS.B,
Zero
Cpn,
9/17/23
...
2,461
2,401
5089962.SQ.FTS.B,
Zero
Cpn,
9/17/23
...
147
139
5090017.SQ.FTS.B,
Zero
Cpn,
9/17/23
...
1,573
1,533
5090178.SQ.FTS.B,
Zero
Cpn,
9/17/23
...
1,132
1,040
5090193.SQ.FTS.B,
Zero
Cpn,
9/17/23
...
2,773
2,700
5090272.SQ.FTS.B,
Zero
Cpn,
9/17/23
...
4,258
3,029
5090354.SQ.FTS.B,
Zero
Cpn,
9/17/23
...
2,072
2,010
5090712.SQ.FTS.B,
Zero
Cpn,
9/17/23
...
16,519
14,305
5090950.SQ.FTS.B,
Zero
Cpn,
9/17/23
...
22,199
21,458
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5091194.SQ.FTS.B,
Zero
Cpn,
9/18/23
...
$
414
$
407
5091263.SQ.FTS.B,
Zero
Cpn,
9/18/23
...
1,850
1,804
5091326.SQ.FTS.B,
Zero
Cpn,
9/18/23
...
6,426
5,951
5091446.SQ.FTS.B,
Zero
Cpn,
9/18/23
...
2,247
2,118
5091483.SQ.FTS.B,
Zero
Cpn,
9/18/23
...
559
518
5091530.SQ.FTS.B,
Zero
Cpn,
9/18/23
...
1,442
1,340
5091551.SQ.FTS.B,
Zero
Cpn,
9/18/23
...
1,812
1,755
5091720.SQ.FTS.B,
Zero
Cpn,
9/18/23
...
592
496
5091830.SQ.FTS.B,
Zero
Cpn,
9/18/23
...
1,828
1,722
5091912.SQ.FTS.B,
Zero
Cpn,
9/18/23
...
13,511
13,118
5092317.SQ.FTS.B,
Zero
Cpn,
9/18/23
...
5,631
3,458
5092421.SQ.FTS.B,
Zero
Cpn,
9/18/23
...
714
673
5092432.SQ.FTS.B,
Zero
Cpn,
9/18/23
...
3,350
3,247
5092547.SQ.FTS.B,
Zero
Cpn,
9/18/23
...
2,021
1,960
5092599.SQ.FTS.B,
Zero
Cpn,
9/18/23
...
863
835
5092632.SQ.FTS.B,
Zero
Cpn,
9/18/23
...
2,771
2,695
5092737.SQ.FTS.B,
Zero
Cpn,
9/18/23
...
3,259
2,992
5092850.SQ.FTS.B,
Zero
Cpn,
9/18/23
...
4,777
4,636
5092982.SQ.FTS.B,
Zero
Cpn,
9/18/23
...
20,649
19,272
5093274.SQ.FTS.B,
Zero
Cpn,
9/18/23
...
7,398
7,090
5093436.SQ.FTS.B,
Zero
Cpn,
9/18/23
...
16,916
16,391
5093775.SQ.FTS.B,
Zero
Cpn,
9/18/23
...
5,080
4,897
5093833.SQ.FTS.B,
Zero
Cpn,
9/19/23
...
4,642
4,481
5093863.SQ.FTS.B,
Zero
Cpn,
9/19/23
...
10,313
9,080
5093917.SQ.FTS.B,
Zero
Cpn,
9/19/23
...
7,006
6,300
5093969.SQ.FTS.B,
Zero
Cpn,
9/19/23
...
1,571
1,525
5093985.SQ.FTS.B,
Zero
Cpn,
9/19/23
...
2,223
2,150
5093999.SQ.FTS.B,
Zero
Cpn,
9/19/23
...
1,578
1,525
5094016.SQ.FTS.B,
Zero
Cpn,
9/19/23
...
3,207
3,091
5094040.SQ.FTS.B,
Zero
Cpn,
9/19/23
...
510
501
5094058.SQ.FTS.B,
Zero
Cpn,
9/19/23
...
3,497
3,377
5094101.SQ.FTS.B,
Zero
Cpn,
9/19/23
...
9,846
9,519
5094158.SQ.FTS.B,
Zero
Cpn,
9/19/23
...
3,217
3,120
5094195.SQ.FTS.B,
Zero
Cpn,
9/19/23
...
11,668
11,273
5094324.SQ.FTS.B,
Zero
Cpn,
9/19/23
...
2,816
1,374
5094340.SQ.FTS.B,
Zero
Cpn,
9/19/23
...
1,299
1,264
5094400.SQ.FTS.B,
Zero
Cpn,
9/20/23
...
3,357
3,255
5094427.SQ.FTS.B,
Zero
Cpn,
9/20/23
...
2,632
2,411
5094443.SQ.FTS.B,
Zero
Cpn,
9/20/23
...
1,116
964
5094456.SQ.FTS.B,
Zero
Cpn,
9/20/23
...
1,173
1,066
5094467.SQ.FTS.B,
Zero
Cpn,
9/20/23
...
2,400
2,165
5094492.SQ.FTS.B,
Zero
Cpn,
9/20/23
...
1,393
1,162
5094501.SQ.FTS.B,
Zero
Cpn,
9/20/23
...
541
528
5094510.SQ.FTS.B,
Zero
Cpn,
9/20/23
...
710
673
5094518.SQ.FTS.B,
Zero
Cpn,
9/20/23
...
3,876
3,753
5094544.SQ.FTS.B,
Zero
Cpn,
9/20/23
...
4,979
4,823
5094595.SQ.FTS.B,
Zero
Cpn,
9/20/23
...
964
941
5094610.SQ.FTS.B,
Zero
Cpn,
9/20/23
...
8,664
8,296
5094691.SQ.FTS.B,
Zero
Cpn,
9/20/23
...
1,345
1,279
5094697.SQ.FTS.B,
Zero
Cpn,
9/20/23
...
507
474
5094712.SQ.FTS.B,
Zero
Cpn,
9/20/23
...
3,491
3,378
5094741.SQ.FTS.B,
Zero
Cpn,
9/20/23
...
4,846
4,699
5094892.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
2,595
2,499
5094988.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
2,307
2,233
5095053.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
621
606
5095103.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
10,132
9,892
5095522.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
4,232
4,125
5095585.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
3,417
3,211
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
64
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5095627.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
$
5,392
$
4,216
5095789.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
6,096
5,486
5095858.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
5,312
5,145
5095917.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
16,282
15,305
5096086.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
1,833
1,657
5096101.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
8,874
7,484
5096186.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
1,843
1,731
5096206.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
8,457
8,110
5096285.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
2,011
1,943
5096291.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
648
625
5096304.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
2,537
2,441
5096332.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
14,952
14,455
5096521.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
1,481
1,416
5096535.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
426
416
5096541.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
2,220
2,146
5096555.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
4,285
4,132
5096628.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
7,019
6,716
5096674.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
15,304
10,943
5096798.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
2,970
2,889
5096827.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
1,221
1,162
5096836.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
818
799
5096866.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
8,459
7,813
5096932.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
2,215
2,160
5096951.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
4,509
4,345
5096988.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
1,451
1,422
5097030.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
12,965
12,040
5097160.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
1,203
1,163
5097170.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
9,560
9,221
5097267.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
877
718
5097273.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
1,048
1,021
5097281.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
4,598
4,211
5097291.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
704
692
5097309.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
1,113
1,041
5097318.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
12,021
11,709
5097498.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
2,933
2,827
5097510.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
906
886
5097531.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
6,118
5,946
5097579.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
1,297
1,269
5097591.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
1,321
1,257
5097611.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
2,155
2,074
5097615.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
2,595
2,499
5097630.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
4,683
4,513
5097666.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
2,222
2,163
5097690.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
1,139
1,085
5097697.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
3,385
3,156
5097715.SQ.FTS.B,
Zero
Cpn,
9/21/23
...
908
735
5097753.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
6,742
6,305
5097834.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
9,970
9,671
5097942.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
1,476
1,430
5097961.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
1,909
1,816
5097995.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
6,899
6,469
5098070.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
7,614
7,424
5098259.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
2,481
2,284
5098275.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
6,086
4,774
5098325.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
357
343
5098348.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
1,074
1,042
5098382.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
637
614
5098389.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
14,452
13,038
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5098530.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
$
4,390
$
4,257
5098609.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
8,389
8,111
5098699.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
6,247
5,871
5098757.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
1,969
1,789
5098792.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
4,838
4,676
5098834.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
5,688
5,546
5098974.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
10,068
9,633
5099135.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
3,191
3,101
5099157.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
2,694
2,616
5099181.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
356
348
5099183.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
1,511
650
5099469.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
8,155
7,959
5099742.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
2,693
2,604
5099762.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
27,290
25,868
5100019.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
2,560
2,440
5100055.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
4,167
3,921
5100108.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
7,086
5,704
5100163.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
1,973
1,934
5100194.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
1,725
1,664
5100220.SQ.FTS.B,
Zero
Cpn,
9/22/23
...
14,834
14,052
5100485.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
4,347
3,890
5100527.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
628
615
5100540.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
3,050
2,951
5100566.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
6,995
6,761
5100653.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
3,197
2,936
5100682.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
2,456
2,350
5100725.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
5,798
5,586
5100815.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
1,993
1,770
5100897.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
3,666
3,523
5100957.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
3,584
3,485
5101039.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
3,134
3,041
5101147.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
1,611
1,580
5101225.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
1,510
1,469
5101296.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
11,655
11,423
5101673.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
1,366
1,153
5101683.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
2,250
2,045
5101700.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
5,448
5,223
5101793.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
3,271
2,850
5101887.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
1,444
1,396
5101913.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
3,777
3,381
5101948.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
269
253
5101953.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
2,116
1,827
5101988.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
8,233
8,051
5102216.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
553
525
5102222.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
332
326
5102366.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
4,011
3,683
5102409.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
722
700
5102418.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
594
579
5102435.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
3,334
3,214
5102472.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
3,200
3,063
5102539.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
1,457
1,418
5102720.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
1,782
1,738
5102730.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
5,296
5,159
5102756.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
436
408
5102758.SQ.FTS.B,
Zero
Cpn,
9/23/23
...
5,174
5,042
5104358.SQ.FTS.B,
Zero
Cpn,
9/24/23
...
6,580
5,591
5104437.SQ.FTS.B,
Zero
Cpn,
9/24/23
...
5,871
5,295
5104499.SQ.FTS.B,
Zero
Cpn,
9/24/23
...
20,680
19,947
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
65
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5104948.SQ.FTS.B,
Zero
Cpn,
9/24/23
...
$
20,958
$
20,233
5105828.SQ.FTS.B,
Zero
Cpn,
9/24/23
...
344
337
5105857.SQ.FTS.B,
Zero
Cpn,
9/24/23
...
3,991
3,700
5105914.SQ.FTS.B,
Zero
Cpn,
9/24/23
...
1,869
1,756
5105963.SQ.FTS.B,
Zero
Cpn,
9/24/23
...
1,024
975
5106104.SQ.FTS.B,
Zero
Cpn,
9/24/23
...
3,329
3,091
5106141.SQ.FTS.B,
Zero
Cpn,
9/24/23
...
700
682
5106170.SQ.FTS.B,
Zero
Cpn,
9/24/23
...
7,231
7,006
5106328.SQ.FTS.B,
Zero
Cpn,
9/24/23
...
918
806
5106337.SQ.FTS.B,
Zero
Cpn,
9/24/23
...
5,706
4,392
5106504.SQ.FTS.B,
Zero
Cpn,
9/24/23
...
1,199
1,159
5106538.SQ.FTS.B,
Zero
Cpn,
9/24/23
...
14,186
11,903
5106672.SQ.FTS.B,
Zero
Cpn,
9/24/23
...
821
744
5106683.SQ.FTS.B,
Zero
Cpn,
9/24/23
...
555
542
5106706.SQ.FTS.B,
Zero
Cpn,
9/24/23
...
764
742
5106724.SQ.FTS.B,
Zero
Cpn,
9/24/23
...
22,368
20,804
5106892.SQ.FTS.B,
Zero
Cpn,
9/24/23
...
1,328
1,269
5106923.SQ.FTS.B,
Zero
Cpn,
9/24/23
...
5,446
5,130
5107004.SQ.FTS.B,
Zero
Cpn,
9/24/23
...
18,978
18,322
5107221.SQ.FTS.B,
Zero
Cpn,
9/24/23
...
2,727
2,658
5107264.SQ.FTS.B,
Zero
Cpn,
9/24/23
...
3,568
3,459
5107353.SQ.FTS.B,
Zero
Cpn,
9/24/23
...
1,355
1,275
5107431.SQ.FTS.B,
Zero
Cpn,
9/24/23
...
15,273
14,672
5107560.SQ.FTS.B,
Zero
Cpn,
9/25/23
...
5,145
4,740
5107683.SQ.FTS.B,
Zero
Cpn,
9/25/23
...
2,382
2,300
5107774.SQ.FTS.B,
Zero
Cpn,
9/25/23
...
2,461
2,231
5107835.SQ.FTS.B,
Zero
Cpn,
9/25/23
...
3,726
3,496
5108160.SQ.FTS.B,
Zero
Cpn,
9/25/23
...
6,017
5,834
5108302.SQ.FTS.B,
Zero
Cpn,
9/25/23
...
2,171
1,957
5108349.SQ.FTS.B,
Zero
Cpn,
9/25/23
...
1,303
1,261
5108376.SQ.FTS.B,
Zero
Cpn,
9/25/23
...
1,646
1,549
5108447.SQ.FTS.B,
Zero
Cpn,
9/25/23
...
4,243
3,948
5108497.SQ.FTS.B,
Zero
Cpn,
9/25/23
...
2,445
2,356
5108535.SQ.FTS.B,
Zero
Cpn,
9/25/23
...
4,316
3,763
5108745.SQ.FTS.B,
Zero
Cpn,
9/25/23
...
2,947
2,835
5108816.SQ.FTS.B,
Zero
Cpn,
9/25/23
...
4,964
4,477
5108900.SQ.FTS.B,
Zero
Cpn,
9/25/23
...
15,168
14,063
5109145.SQ.FTS.B,
Zero
Cpn,
9/25/23
...
2,039
1,885
5109191.SQ.FTS.B,
Zero
Cpn,
9/25/23
...
1,485
1,424
5109209.SQ.FTS.B,
Zero
Cpn,
9/25/23
...
1,068
1,048
5109269.SQ.FTS.B,
Zero
Cpn,
9/25/23
...
3,072
2,969
5109345.SQ.FTS.B,
Zero
Cpn,
9/25/23
...
236
232
5109366.SQ.FTS.B,
Zero
Cpn,
9/25/23
...
3,949
3,843
5109454.SQ.FTS.B,
Zero
Cpn,
9/25/23
...
61,210
41,805
5110097.SQ.FTS.B,
Zero
Cpn,
9/26/23
...
3,118
2,434
5110117.SQ.FTS.B,
Zero
Cpn,
9/26/23
...
233
228
5110122.SQ.FTS.B,
Zero
Cpn,
9/26/23
...
3,329
3,237
5110167.SQ.FTS.B,
Zero
Cpn,
9/26/23
...
2,382
2,301
5110240.SQ.FTS.B,
Zero
Cpn,
9/26/23
...
825
791
5110254.SQ.FTS.B,
Zero
Cpn,
9/26/23
...
1,101
1,060
5110314.SQ.FTS.B,
Zero
Cpn,
9/26/23
...
6,140
5,917
5110410.SQ.FTS.B,
Zero
Cpn,
9/26/23
...
6,481
6,258
5110636.SQ.FTS.B,
Zero
Cpn,
9/26/23
...
4,666
3,428
5110725.SQ.FTS.B,
Zero
Cpn,
9/27/23
...
5,313
4,538
5110762.SQ.FTS.B,
Zero
Cpn,
9/27/23
...
1,304
1,042
5110779.SQ.FTS.B,
Zero
Cpn,
9/27/23
...
2,382
2,304
5110811.SQ.FTS.B,
Zero
Cpn,
9/27/23
...
6,822
5,092
5110863.SQ.FTS.B,
Zero
Cpn,
9/27/23
...
5,078
4,910
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5110983.SQ.FTS.B,
Zero
Cpn,
9/27/23
...
$
2,474
$
2,382
5111012.SQ.FTS.B,
Zero
Cpn,
9/27/23
...
1,028
920
5111024.SQ.FTS.B,
Zero
Cpn,
9/27/23
...
4,459
2,784
5111103.SQ.FTS.B,
Zero
Cpn,
9/27/23
...
2,243
1,990
5111117.SQ.FTS.B,
Zero
Cpn,
9/27/23
...
875
719
5111314.SQ.FTS.B,
Zero
Cpn,
9/27/23
...
4,956
4,826
5111520.SQ.FTS.B,
Zero
Cpn,
9/28/23
...
15,689
15,232
5112172.SQ.FTS.B,
Zero
Cpn,
9/28/23
...
7,157
6,961
5112318.SQ.FTS.B,
Zero
Cpn,
9/28/23
...
9,456
9,133
5112445.SQ.FTS.B,
Zero
Cpn,
9/28/23
...
1,521
1,431
5112464.SQ.FTS.B,
Zero
Cpn,
9/28/23
...
1,751
1,709
5112539.SQ.FTS.B,
Zero
Cpn,
9/28/23
...
571
558
5112558.SQ.FTS.B,
Zero
Cpn,
9/28/23
...
1,121
1,093
5112573.SQ.FTS.B,
Zero
Cpn,
9/28/23
...
3,840
3,619
5112611.SQ.FTS.B,
Zero
Cpn,
9/28/23
...
1,968
1,884
5112638.SQ.FTS.B,
Zero
Cpn,
9/28/23
...
6,151
5,940
5112702.SQ.FTS.B,
Zero
Cpn,
9/28/23
...
1,802
1,749
5112732.SQ.FTS.B,
Zero
Cpn,
9/28/23
...
1,439
1,393
5112746.SQ.FTS.B,
Zero
Cpn,
9/28/23
...
2,317
2,254
5112797.SQ.FTS.B,
Zero
Cpn,
9/28/23
...
2,432
2,352
5112955.SQ.FTS.B,
Zero
Cpn,
9/28/23
...
5,250
4,956
5113266.SQ.FTS.B,
Zero
Cpn,
9/28/23
...
2,290
2,229
5113337.SQ.FTS.B,
Zero
Cpn,
9/28/23
...
5,480
5,347
5113494.SQ.FTS.B,
Zero
Cpn,
9/28/23
...
435
416
5113505.SQ.FTS.B,
Zero
Cpn,
9/28/23
...
4,597
4,406
5113574.SQ.FTS.B,
Zero
Cpn,
9/28/23
...
18,186
17,646
5113882.SQ.FTS.B,
Zero
Cpn,
9/28/23
...
13,451
13,133
5114206.SQ.FTS.B,
Zero
Cpn,
9/28/23
...
1,649
1,399
5114229.SQ.FTS.B,
Zero
Cpn,
9/28/23
...
12,432
11,183
5114378.SQ.FTS.B,
Zero
Cpn,
9/28/23
...
4,275
4,009
5114504.SQ.FTS.B,
Zero
Cpn,
9/29/23
...
3,109
3,028
5114611.SQ.FTS.B,
Zero
Cpn,
9/29/23
...
9,996
8,973
5114687.SQ.FTS.B,
Zero
Cpn,
9/29/23
...
3,516
3,405
5114738.SQ.FTS.B,
Zero
Cpn,
9/29/23
...
6,473
6,336
5114930.SQ.FTS.B,
Zero
Cpn,
9/29/23
...
8,822
8,229
5115107.SQ.FTS.B,
Zero
Cpn,
9/29/23
...
5,931
5,743
5115241.SQ.FTS.B,
Zero
Cpn,
9/29/23
...
1,927
1,876
5115314.SQ.FTS.B,
Zero
Cpn,
9/29/23
...
5,193
5,022
5115456.SQ.FTS.B,
Zero
Cpn,
9/29/23
...
9,656
9,382
5115737.SQ.FTS.B,
Zero
Cpn,
9/29/23
...
3,721
3,582
5115799.SQ.FTS.B,
Zero
Cpn,
9/29/23
...
1,532
1,469
5115847.SQ.FTS.B,
Zero
Cpn,
9/29/23
...
1,374
1,328
5116007.SQ.FTS.B,
Zero
Cpn,
9/29/23
...
1,006
982
5116044.SQ.FTS.B,
Zero
Cpn,
9/29/23
...
841
809
5116096.SQ.FTS.B,
Zero
Cpn,
9/29/23
...
1,907
1,851
5116150.SQ.FTS.B,
Zero
Cpn,
9/29/23
...
6,664
6,156
5116225.SQ.FTS.B,
Zero
Cpn,
9/29/23
...
3,924
3,774
5116412.SQ.FTS.B,
Zero
Cpn,
9/29/23
...
960
934
5116448.SQ.FTS.B,
Zero
Cpn,
9/29/23
...
6,927
6,727
5116547.SQ.FTS.B,
Zero
Cpn,
9/29/23
...
6,041
5,849
5116610.SQ.FTS.B,
Zero
Cpn,
9/29/23
...
1,483
1,415
5116653.SQ.FTS.B,
Zero
Cpn,
9/29/23
...
822
787
5116662.SQ.FTS.B,
Zero
Cpn,
9/29/23
...
8,794
7,795
5116874.SQ.FTS.B,
Zero
Cpn,
9/29/23
...
5,151
4,937
5116990.SQ.FTS.B,
Zero
Cpn,
9/29/23
...
12,967
12,038
5117163.SQ.FTS.B,
Zero
Cpn,
9/29/23
...
24,294
23,595
5117214.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
1,125
1,000
5117238.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
7,100
6,522
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
66
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5117309.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
$
911
$
747
5117315.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
20,323
19,551
5117743.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
3,698
3,313
5117787.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
1,965
1,913
5117854.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
1,778
1,448
5117897.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
2,173
2,117
5117949.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
3,229
3,138
5118035.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
8,526
8,220
5118159.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
6,730
6,490
5118288.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
10,156
9,111
5118372.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
6,091
5,852
5118558.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
3,699
3,577
5118620.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
3,657
3,077
5118686.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
17,898
16,286
5118857.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
1,230
1,123
5118869.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
8,980
8,686
5118998.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
1,591
1,538
5119011.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
562
545
5119023.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
2,632
2,530
5119054.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
1,165
1,113
5119109.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
1,285
1,170
5119131.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
3,131
2,674
5119154.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
9,973
7,405
5119201.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
1,042
1,015
5119221.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
3,227
3,138
5119262.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
751
717
5119267.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
6,393
6,168
5119331.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
5,320
5,125
5119369.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
10,289
9,657
5119401.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
1,821
1,764
5119405.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
21,783
21,216
5119608.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
4,650
3,960
5119655.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
1,722
1,656
5121536.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
1,170
1,134
5121599.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
4,919
4,444
5121637.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
261
254
5121651.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
16,981
16,390
5122141.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
235
231
5122180.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
663
650
5122204.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
2,179
2,129
5122424.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
3,373
3,266
5122619.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
877
850
5122643.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
805
665
5122658.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
19,394
18,096
5122947.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
494
468
5122968.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
7,262
6,762
5123057.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
18,145
16,892
5123267.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
11,832
7,769
5123471.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
1,929
1,860
5123495.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
1,408
1,380
5123561.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
2,702
2,631
5123647.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
691
678
5124058.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
1,584
1,517
5124084.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
2,474
2,355
5124174.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
5,114
5,007
5124284.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
884
796
5124299.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
1,669
1,605
5124324.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
5,376
5,211
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5124518.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
$
13,140
$
12,342
5124679.SQ.FTS.B,
Zero
Cpn,
9/30/23
...
545
517
5124897.SQ.FTS.B,
Zero
Cpn,
10/01/23
..
31,928
31,267
5126309.SQ.FTS.B,
Zero
Cpn,
10/01/23
..
5,886
5,665
5126438.SQ.FTS.B,
Zero
Cpn,
10/01/23
..
28,876
14,241
5126842.SQ.FTS.B,
Zero
Cpn,
10/01/23
..
1,837
1,780
5126889.SQ.FTS.B,
Zero
Cpn,
10/01/23
..
14,261
12,943
5127131.SQ.FTS.B,
Zero
Cpn,
10/01/23
..
5,890
5,662
5127322.SQ.FTS.B,
Zero
Cpn,
10/01/23
..
4,373
4,285
5127649.SQ.FTS.B,
Zero
Cpn,
10/01/23
..
2,403
2,312
5127713.SQ.FTS.B,
Zero
Cpn,
10/02/23
..
905
808
5127740.SQ.FTS.B,
Zero
Cpn,
10/02/23
..
1,665
1,623
5127769.SQ.FTS.B,
Zero
Cpn,
10/02/23
..
6,535
6,367
5127847.SQ.FTS.B,
Zero
Cpn,
10/02/23
..
662
492
5127850.SQ.FTS.B,
Zero
Cpn,
10/02/23
..
841
822
5127873.SQ.FTS.B,
Zero
Cpn,
10/02/23
..
931
885
5127892.SQ.FTS.B,
Zero
Cpn,
10/02/23
..
5,052
4,879
5127935.SQ.FTS.B,
Zero
Cpn,
10/02/23
..
1,822
1,756
5127947.SQ.FTS.B,
Zero
Cpn,
10/02/23
..
10,194
9,953
5128084.SQ.FTS.B,
Zero
Cpn,
10/02/23
..
1,622
1,559
5128107.SQ.FTS.B,
Zero
Cpn,
10/02/23
..
13,542
12,830
5128235.SQ.FTS.B,
Zero
Cpn,
10/02/23
..
2,224
2,135
5128284.SQ.FTS.B,
Zero
Cpn,
10/02/23
..
10,109
9,509
5128360.SQ.FTS.B,
Zero
Cpn,
10/02/23
..
3,720
3,601
5128413.SQ.FTS.B,
Zero
Cpn,
10/02/23
..
1,332
939
5128425.SQ.FTS.B,
Zero
Cpn,
10/02/23
..
2,677
2,577
5128523.SQ.FTS.B,
Zero
Cpn,
10/03/23
..
1,534
1,479
5128541.SQ.FTS.B,
Zero
Cpn,
10/03/23
..
6,389
5,381
5128593.SQ.FTS.B,
Zero
Cpn,
10/03/23
..
2,809
2,715
5128685.SQ.FTS.B,
Zero
Cpn,
10/03/23
..
413
325
5128693.SQ.FTS.B,
Zero
Cpn,
10/03/23
..
2,898
2,812
5128715.SQ.FTS.B,
Zero
Cpn,
10/03/23
..
5,314
5,191
5128766.SQ.FTS.B,
Zero
Cpn,
10/03/23
..
625
593
5128778.SQ.FTS.B,
Zero
Cpn,
10/03/23
..
3,588
3,295
5128805.SQ.FTS.B,
Zero
Cpn,
10/03/23
..
4,017
3,875
5128828.SQ.FTS.B,
Zero
Cpn,
10/03/23
..
8,030
7,742
5128913.SQ.FTS.B,
Zero
Cpn,
10/03/23
..
4,289
4,076
5128956.SQ.FTS.B,
Zero
Cpn,
10/03/23
..
757
741
5128974.SQ.FTS.B,
Zero
Cpn,
10/03/23
..
1,153
1,118
5128981.SQ.FTS.B,
Zero
Cpn,
10/03/23
..
2,106
2,046
5129001.SQ.FTS.B,
Zero
Cpn,
10/03/23
..
2,369
2,135
5129023.SQ.FTS.B,
Zero
Cpn,
10/03/23
..
2,488
2,405
5129055.SQ.FTS.B,
Zero
Cpn,
10/03/23
..
7,841
7,309
5129127.SQ.FTS.B,
Zero
Cpn,
10/03/23
..
3,653
3,543
5129165.SQ.FTS.B,
Zero
Cpn,
10/03/23
..
8,914
8,614
5129235.SQ.FTS.B,
Zero
Cpn,
10/03/23
..
1,357
1,233
5129262.SQ.FTS.B,
Zero
Cpn,
10/03/23
..
4,217
3,514
5130126.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
150
142
5130132.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
429
420
5130156.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
79
78
5130190.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
2,475
2,395
5130234.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
9,364
9,013
5130328.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
1,641
1,590
5130358.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
546
538
5130503.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
7,968
7,722
5130601.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
2,678
2,573
5130628.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
14,259
13,394
5130799.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
2,668
2,595
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
67
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5130922.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
$
3,761
$
3,401
5130982.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
5,414
5,219
5131037.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
6,500
6,363
5131231.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
273
266
5131238.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
8,102
5,944
5131324.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
8,473
8,152
5131400.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
157
153
5131408.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
4,266
4,100
5131509.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
1,830
1,780
5131529.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
1,798
1,754
5131540.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
5,240
5,047
5131575.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
1,022
1,004
5131656.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
139
136
5131669.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
24,362
21,505
5131790.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
13,669
12,843
5131875.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
864
494
5131884.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
4,826
4,663
5131917.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
6,623
6,462
5132006.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
1,284
1,226
5132023.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
2,440
2,210
5132062.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
11,584
11,227
5132163.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
1,592
1,306
5132178.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
952
871
5132203.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
1,225
1,192
5132209.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
22,525
21,188
5132431.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
31,209
30,204
5132720.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
2,316
2,255
5132753.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
6,411
6,180
5132826.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
418
396
5132845.SQ.FTS.B,
Zero
Cpn,
10/04/23
..
23,643
23,111
5132902.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
1,676
1,594
5132946.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
2,338
1,702
5132957.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
852
676
5132976.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
6,873
6,259
5133006.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
3,388
3,263
5133104.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
5,253
5,052
5133155.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
1,424
1,345
5133166.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
6,706
6,488
5133219.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
1,490
1,457
5133254.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
43,196
41,599
5133903.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
603
575
5133917.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
836
804
5133935.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
2,698
2,451
5133961.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
1,000
935
5133965.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
6,278
6,049
5134057.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
1,775
1,721
5134104.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
2,287
2,190
5134137.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
2,259
2,209
5134215.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
3,295
3,217
5134297.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
246
242
5134308.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
5,950
5,373
5134361.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
7,085
6,682
5134478.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
6,649
6,417
5134549.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
2,687
2,535
5134577.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
1,152
1,121
5134589.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
634
614
5134599.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
9,512
9,293
5134740.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
10,228
9,845
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5134884.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
$
1,619
$
1,564
5134908.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
801
782
5134911.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
9,892
9,569
5135043.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
1,140
1,074
5135063.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
5,957
5,755
5135101.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
15,203
11,837
5135239.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
1,929
1,865
5135269.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
34,122
32,664
5135680.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
977
936
5135710.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
793
696
5135722.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
1,257
1,048
5135733.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
2,496
2,445
5135797.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
19,390
18,503
5136001.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
7,858
7,152
5136023.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
6,108
5,894
5136068.SQ.FTS.B,
Zero
Cpn,
10/05/23
..
17,945
16,294
5136166.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
2,625
2,442
5136182.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
390
382
5136194.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
2,366
2,110
5136216.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
502
479
5136224.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
11,825
11,520
5136378.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
782
754
5136483.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
618
606
5136529.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
6,161
5,962
5136627.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
2,042
1,956
5136658.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
952
885
5136667.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
4,618
4,448
5136782.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
232
222
5136863.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
1,760
789
5136872.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
1,378
1,291
5136931.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
2,467
2,376
5136979.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
277
265
5136996.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
506
359
5137080.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
1,011
980
5137092.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
1,046
578
5137109.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
5,327
2,409
5137161.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
5,785
5,449
5137273.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
1,613
1,561
5137295.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
1,331
1,291
5137315.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
201
196
5138072.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
5,436
3,746
5138173.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
6,728
6,538
5138297.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
5,455
5,327
5138360.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
2,411
2,123
5138393.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
3,644
3,484
5138431.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
1,523
1,489
5138470.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
2,988
2,906
5138578.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
1,034
954
5138599.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
4,426
4,318
5138741.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
4,878
4,647
5138860.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
1,614
1,416
5138869.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
4,220
3,793
5138917.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
774
695
5138928.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
1,566
1,535
5139033.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
2,760
2,670
5139115.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
1,061
721
5139145.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
3,102
3,030
5139219.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
11,459
11,065
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
68
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5139377.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
$
1,494
$
1,447
5139424.SQ.FTS.B,
Zero
Cpn,
10/06/23
..
46,293
44,682
5141482.SQ.FTS.B,
Zero
Cpn,
10/07/23
..
15,115
14,294
5141701.SQ.FTS.B,
Zero
Cpn,
10/07/23
..
554
409
5141708.SQ.FTS.B,
Zero
Cpn,
10/07/23
..
9,971
9,666
5141807.SQ.FTS.B,
Zero
Cpn,
10/07/23
..
2,395
2,339
5141945.SQ.FTS.B,
Zero
Cpn,
10/07/23
..
1,049
914
5141962.SQ.FTS.B,
Zero
Cpn,
10/07/23
..
3,581
1,927
5142028.SQ.FTS.B,
Zero
Cpn,
10/07/23
..
1,008
932
5142049.SQ.FTS.B,
Zero
Cpn,
10/07/23
..
1,353
1,293
5142085.SQ.FTS.B,
Zero
Cpn,
10/07/23
..
2,196
2,125
5142175.SQ.FTS.B,
Zero
Cpn,
10/07/23
..
2,563
2,469
5142267.SQ.FTS.B,
Zero
Cpn,
10/07/23
..
396
387
5142327.SQ.FTS.B,
Zero
Cpn,
10/07/23
..
2,914
2,822
5142404.SQ.FTS.B,
Zero
Cpn,
10/07/23
..
4,760
4,598
5142507.SQ.FTS.B,
Zero
Cpn,
10/07/23
..
3,708
3,608
5142602.SQ.FTS.B,
Zero
Cpn,
10/07/23
..
4,791
4,544
5142724.SQ.FTS.B,
Zero
Cpn,
10/07/23
..
5,488
5,289
5142830.SQ.FTS.B,
Zero
Cpn,
10/07/23
..
3,739
3,470
5142915.SQ.FTS.B,
Zero
Cpn,
10/07/23
..
5,358
5,019
5143292.SQ.FTS.B,
Zero
Cpn,
10/07/23
..
3,308
3,074
5143378.SQ.FTS.B,
Zero
Cpn,
10/07/23
..
715
700
5143386.SQ.FTS.B,
Zero
Cpn,
10/07/23
..
12,193
11,853
5143837.SQ.FTS.B,
Zero
Cpn,
10/07/23
..
2,051
1,997
5143977.SQ.FTS.B,
Zero
Cpn,
10/07/23
..
12,746
12,071
5144216.SQ.FTS.B,
Zero
Cpn,
10/07/23
..
382
374
5144252.SQ.FTS.B,
Zero
Cpn,
10/07/23
..
21,447
20,857
5144849.SQ.FTS.B,
Zero
Cpn,
10/08/23
..
6,515
6,228
5144972.SQ.FTS.B,
Zero
Cpn,
10/08/23
..
1,594
1,547
5144989.SQ.FTS.B,
Zero
Cpn,
10/08/23
..
651
630
5145120.SQ.FTS.B,
Zero
Cpn,
10/08/23
..
12,080
11,801
5145573.SQ.FTS.B,
Zero
Cpn,
10/08/23
..
4,779
4,634
5145760.SQ.FTS.B,
Zero
Cpn,
10/08/23
..
3,803
3,135
5145818.SQ.FTS.B,
Zero
Cpn,
10/08/23
..
1,726
1,299
5145849.SQ.FTS.B,
Zero
Cpn,
10/08/23
..
189
185
5145899.SQ.FTS.B,
Zero
Cpn,
10/08/23
..
1,329
1,274
5145947.SQ.FTS.B,
Zero
Cpn,
10/08/23
..
4,807
4,632
5146269.SQ.FTS.B,
Zero
Cpn,
10/08/23
..
999
965
5146356.SQ.FTS.B,
Zero
Cpn,
10/08/23
..
17,635
17,171
5146675.SQ.FTS.B,
Zero
Cpn,
10/08/23
..
3,554
3,407
5146747.SQ.FTS.B,
Zero
Cpn,
10/08/23
..
2,737
2,633
5146790.SQ.FTS.B,
Zero
Cpn,
10/08/23
..
5,212
5,032
5146884.SQ.FTS.B,
Zero
Cpn,
10/08/23
..
1,478
1,417
5146977.SQ.FTS.B,
Zero
Cpn,
10/08/23
..
16,026
15,470
5147207.SQ.FTS.B,
Zero
Cpn,
10/08/23
..
1,184
964
5147226.SQ.FTS.B,
Zero
Cpn,
10/08/23
..
7,104
6,869
5147315.SQ.FTS.B,
Zero
Cpn,
10/08/23
..
3,149
3,040
5147343.SQ.FTS.B,
Zero
Cpn,
10/08/23
..
5,003
4,848
5147455.SQ.FTS.B,
Zero
Cpn,
10/08/23
..
1,856
1,717
5147486.SQ.FTS.B,
Zero
Cpn,
10/08/23
..
1,348
1,256
5147632.SQ.FTS.B,
Zero
Cpn,
10/08/23
..
9,810
8,905
5147855.SQ.FTS.B,
Zero
Cpn,
10/08/23
..
5,615
5,492
5148014.SQ.FTS.B,
Zero
Cpn,
10/08/23
..
12,577
11,717
5148101.SQ.FTS.B,
Zero
Cpn,
10/09/23
..
455
444
5148107.SQ.FTS.B,
Zero
Cpn,
10/09/23
..
6,744
6,386
5148177.SQ.FTS.B,
Zero
Cpn,
10/09/23
..
20,430
19,846
5148337.SQ.FTS.B,
Zero
Cpn,
10/09/23
..
3,629
3,438
5148379.SQ.FTS.B,
Zero
Cpn,
10/09/23
..
10,069
9,515
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5148479.SQ.FTS.B,
Zero
Cpn,
10/09/23
..
$
6,260
$
6,054
5148527.SQ.FTS.B,
Zero
Cpn,
10/09/23
..
2,771
2,686
5148555.SQ.FTS.B,
Zero
Cpn,
10/09/23
..
1,639
1,594
5148588.SQ.FTS.B,
Zero
Cpn,
10/09/23
..
13,408
12,511
5148850.SQ.FTS.B,
Zero
Cpn,
10/09/23
..
1,384
1,340
5148859.SQ.FTS.B,
Zero
Cpn,
10/10/23
..
5,576
5,350
5148963.SQ.FTS.B,
Zero
Cpn,
10/10/23
..
22,109
21,322
5149144.SQ.FTS.B,
Zero
Cpn,
10/10/23
..
3,278
2,735
5149160.SQ.FTS.B,
Zero
Cpn,
10/10/23
..
362
348
5149170.SQ.FTS.B,
Zero
Cpn,
10/10/23
..
874
720
5149178.SQ.FTS.B,
Zero
Cpn,
10/10/23
..
9,031
8,703
5149269.SQ.FTS.B,
Zero
Cpn,
10/10/23
..
952
727
5149276.SQ.FTS.B,
Zero
Cpn,
10/10/23
..
790
698
5149285.SQ.FTS.B,
Zero
Cpn,
10/10/23
..
925
810
5149296.SQ.FTS.B,
Zero
Cpn,
10/10/23
..
15,318
14,706
5149434.SQ.FTS.B,
Zero
Cpn,
10/10/23
..
3,978
3,875
5149477.SQ.FTS.B,
Zero
Cpn,
10/10/23
..
18,423
17,849
5149943.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
2,293
2,206
5149994.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
4,968
4,850
5150113.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
6,163
5,953
5150319.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
8,102
7,817
5150453.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
2,679
1,938
5150470.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
7,762
6,476
5150537.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
1,560
1,467
5150547.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
22,317
20,310
5150775.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
7,867
7,639
5150947.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
9,114
8,794
5151046.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
635
618
5151058.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
13,141
12,743
5151254.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
7,349
7,196
5151644.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
253
246
5151656.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
32,253
30,374
5152221.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
8,107
7,852
5152276.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
3,449
3,329
5152302.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
4,720
4,399
5152326.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
2,730
2,636
5152334.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
9,597
9,260
5152396.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
1,566
1,470
5152412.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
10,187
9,846
5152519.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
26,814
25,344
5152767.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
5,669
4,336
5152822.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
30,157
24,485
5152971.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
6,303
5,664
5153086.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
2,223
2,173
5153125.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
1,309
1,160
5153148.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
3,966
3,831
5153173.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
755
673
5153179.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
236
229
5153190.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
11,387
11,065
5153353.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
1,311
1,254
5153369.SQ.FTS.B,
Zero
Cpn,
10/11/23
..
13,852
10,515
5153453.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
6,556
6,351
5153589.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
3,512
3,291
5153611.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
10,732
10,167
5153784.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
1,918
1,866
5153808.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
7,960
7,687
5153874.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
5,455
5,240
5153956.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
3,381
1,765
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
69
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5153988.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
$
2,467
$
2,375
5154015.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
7,135
6,788
5154100.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
5,171
4,500
5154181.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
2,362
1,624
5154262.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
1,414
1,373
5154314.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
2,780
2,697
5154404.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
4,830
4,516
5154543.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
3,640
3,502
5154612.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
1,321
967
5154631.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
5,679
5,478
5154724.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
10,552
9,933
5154882.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
1,388
1,337
5154907.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
4,807
4,488
5154987.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
4,299
3,733
5155122.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
1,617
1,566
5155148.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
20,164
19,108
5155471.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
40,110
38,888
5156010.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
3,357
3,225
5156124.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
1,335
1,278
5156156.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
9,678
9,108
5156296.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
17,065
16,577
5156655.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
52
51
5156702.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
3,186
3,102
5156782.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
6,243
6,044
5156875.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
6,338
6,102
5156973.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
4,549
4,354
5157001.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
19,281
18,609
5157137.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
2,710
2,615
5157152.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
6,753
5,362
5157233.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
1,621
1,439
5157254.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
193
190
5157279.SQ.FTS.B,
Zero
Cpn,
10/12/23
..
12,900
9,059
5157398.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
2,460
2,368
5157473.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
3,372
3,255
5157521.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
1,319
1,235
5157746.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
3,329
3,236
5157821.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
5,932
4,190
5157875.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
114
112
5157884.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
7,728
7,456
5158067.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
644
567
5158098.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
1,224
1,199
5158164.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
738
592
5158173.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
2,513
2,436
5158265.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
784
722
5158290.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
3,189
3,077
5158325.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
5,806
5,560
5158425.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
17,813
16,738
5158685.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
1,771
1,694
5158706.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
24,226
22,837
5159072.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
1,650
1,507
5159090.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
12,683
11,944
5159226.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
3,930
3,679
5159258.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
2,434
1,814
5159278.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
2,258
2,188
5159304.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
2,888
2,785
5159356.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
11,505
9,123
5159439.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
153
150
5159477.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
1,766
1,723
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5159501.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
$
2,333
$
2,169
5159523.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
6,401
5,382
5159643.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
1,610
1,521
5159675.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
3,544
3,444
5159726.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
43,000
41,210
5160199.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
501
485
5160236.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
20,679
18,308
5160507.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
1,130
974
5160522.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
666
628
5160539.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
7,311
7,140
5160629.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
3,590
3,336
5160651.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
4,635
4,413
5160744.SQ.FTS.B,
Zero
Cpn,
10/13/23
..
52,364
50,624
5162509.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
55,221
46,505
5162935.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
2,505
2,408
5162955.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
1,449
1,363
5163000.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
6,619
6,390
5163098.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
3,618
3,259
5163155.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
6,203
6,013
5163312.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
17,297
15,678
5163509.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
7,753
7,433
5163616.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
18,025
13,573
5163807.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
3,249
3,196
5164173.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
406
393
5164174.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
2,205
1,607
5164196.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
4,863
4,437
5164254.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
947
928
5164302.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
1,811
1,744
5164324.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
5,302
5,024
5164410.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
15,102
14,384
5164779.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
2,658
2,518
5164800.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
17,912
17,370
5165105.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
2,632
2,550
5165156.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
5,151
4,279
5165213.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
2,160
1,818
5165244.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
2,012
1,938
5165268.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
2,367
2,157
5165288.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
4,612
4,283
5165378.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
7,422
6,022
5165433.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
1,057
1,021
5165457.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
4,579
4,386
5165511.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
8,643
8,062
5165652.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
2,293
2,207
5165726.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
536
514
5165737.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
1,301
1,270
5165754.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
2,190
1,684
5165875.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
3,588
3,454
5165914.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
946
920
5165986.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
2,382
2,287
5166049.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
6,993
6,774
5166156.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
4,507
4,247
5166227.SQ.FTS.B,
Zero
Cpn,
10/14/23
..
50,220
48,333
5166615.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
6,876
6,555
5166705.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
726
690
5166751.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
6,049
5,626
5166841.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
2,618
2,527
5166870.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
5,041
4,881
5166956.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
962
935
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
70
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5166972.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
$
27,114
$
24,723
5167334.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
316
308
5167335.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
3,298
3,006
5167401.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
568
556
5167427.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
273
267
5167455.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
1,017
897
5167500.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
4,403
4,243
5167604.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
9,369
8,812
5168098.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
1,638
1,490
5168205.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
2,321
2,251
5168289.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
3,418
3,162
5168411.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
963
851
5168454.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
1,523
1,491
5168510.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
1,905
1,845
5168563.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
4,980
4,785
5168680.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
3,052
2,849
5168750.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
5,691
5,481
5168842.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
5,184
4,865
5168932.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
2,081
1,916
5168977.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
278
273
5169102.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
16,261
15,933
5169673.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
18,277
17,511
5169921.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
2,030
1,885
5169928.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
3,328
2,792
5170034.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
8,699
7,675
5170150.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
856
787
5170153.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
1,765
1,656
5170173.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
41,437
38,261
5170843.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
15,364
11,912
5170976.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
7,816
7,538
5171068.SQ.FTS.B,
Zero
Cpn,
10/15/23
..
43,123
41,467
5171614.SQ.FTS.B,
Zero
Cpn,
10/16/23
..
586
489
5171620.SQ.FTS.B,
Zero
Cpn,
10/16/23
..
790
772
5171635.SQ.FTS.B,
Zero
Cpn,
10/16/23
..
1,736
1,667
5171656.SQ.FTS.B,
Zero
Cpn,
10/16/23
..
973
476
5171725.SQ.FTS.B,
Zero
Cpn,
10/16/23
..
4,954
4,578
5171759.SQ.FTS.B,
Zero
Cpn,
10/16/23
..
4,339
3,906
5171787.SQ.FTS.B,
Zero
Cpn,
10/16/23
..
981
938
5171798.SQ.FTS.B,
Zero
Cpn,
10/16/23
..
22,881
21,836
5172034.SQ.FTS.B,
Zero
Cpn,
10/16/23
..
7,815
7,536
5172121.SQ.FTS.B,
Zero
Cpn,
10/16/23
..
11,489
11,037
5172263.SQ.FTS.B,
Zero
Cpn,
10/16/23
..
2,183
2,012
5172281.SQ.FTS.B,
Zero
Cpn,
10/16/23
..
2,267
2,185
5172304.SQ.FTS.B,
Zero
Cpn,
10/16/23
..
4,651
4,524
5172371.SQ.FTS.B,
Zero
Cpn,
10/16/23
..
3,619
2,949
5172402.SQ.FTS.B,
Zero
Cpn,
10/16/23
..
2,433
2,352
5172517.SQ.FTS.B,
Zero
Cpn,
10/17/23
..
3,509
1,643
5172535.SQ.FTS.B,
Zero
Cpn,
10/17/23
..
3,654
3,568
5172607.SQ.FTS.B,
Zero
Cpn,
10/17/23
..
1,741
1,568
5172631.SQ.FTS.B,
Zero
Cpn,
10/17/23
..
1,666
1,620
5172651.SQ.FTS.B,
Zero
Cpn,
10/17/23
..
1,873
1,815
5172676.SQ.FTS.B,
Zero
Cpn,
10/17/23
..
4,522
4,338
5172726.SQ.FTS.B,
Zero
Cpn,
10/17/23
..
4,165
2,918
5172757.SQ.FTS.B,
Zero
Cpn,
10/17/23
..
6,172
5,952
5172829.SQ.FTS.B,
Zero
Cpn,
10/17/23
..
3,150
3,016
5172857.SQ.FTS.B,
Zero
Cpn,
10/17/23
..
1,607
1,547
5172879.SQ.FTS.B,
Zero
Cpn,
10/17/23
..
1,047
974
5172887.SQ.FTS.B,
Zero
Cpn,
10/17/23
..
5,171
5,031
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5173093.SQ.FTS.B,
Zero
Cpn,
10/17/23
..
$
1,433
$
1,282
5173109.SQ.FTS.B,
Zero
Cpn,
10/17/23
..
1,617
1,403
5173148.SQ.FTS.B,
Zero
Cpn,
10/17/23
..
2,399
2,289
5173204.SQ.FTS.B,
Zero
Cpn,
10/17/23
..
3,303
3,131
5173238.SQ.FTS.B,
Zero
Cpn,
10/17/23
..
9,733
9,138
5173468.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
600
580
5173516.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
1,235
1,211
5173671.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
424
355
5173697.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
9,787
9,421
5174300.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
9,098
8,726
5175259.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
668
296
5175283.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
1,353
1,312
5175425.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
1,260
1,212
5175500.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
8,489
8,259
5175826.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
4,586
4,181
5175901.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
3,588
3,396
5176007.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
433
421
5176028.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
1,130
1,106
5176050.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
1,952
1,897
5176106.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
11,761
11,017
5176286.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
2,227
2,149
5176343.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
7,013
6,572
5176420.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
2,188
1,742
5176448.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
8,729
8,397
5176544.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
3,731
3,571
5176617.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
1,026
907
5176630.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
4,770
4,670
5176794.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
1,717
1,661
5176878.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
1,744
1,598
5176935.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
1,444
1,177
5176983.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
2,487
2,415
5177016.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
6
6
5177078.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
3,404
3,232
5177137.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
6,119
5,919
5177259.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
1,957
1,886
5177285.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
19,304
18,639
5177710.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
13,858
13,086
5177975.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
192
187
5177983.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
1,293
1,239
5178002.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
29,023
27,836
5178365.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
5,748
5,069
5178424.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
2,607
2,518
5178484.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
5,746
5,354
5178540.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
3,811
3,199
5178576.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
2,631
2,563
5178621.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
3,803
2,732
5178744.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
5,159
4,943
5178833.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
2,733
2,574
5178888.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
8,296
7,767
5178958.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
2,447
2,365
5178983.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
1,559
1,343
5179008.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
2,956
2,704
5179099.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
5,737
5,466
5179181.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
3,654
3,333
5179211.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
1,482
1,369
5179241.SQ.FTS.B,
Zero
Cpn,
10/18/23
..
12,976
12,483
5179609.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
24,303
23,412
5180070.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
1,951
1,879
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
71
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5180171.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
$
3,360
$
3,253
5180228.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
2,814
2,625
5180392.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
1,729
1,611
5180490.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
815
793
5180564.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
9,926
9,593
5181422.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
999
954
5181779.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
21,311
19,460
5182579.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
4,807
4,435
5182664.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
2,540
2,355
5182752.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
3,254
3,084
5183061.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
3,587
3,224
5183134.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
13,791
13,342
5183535.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
3,197
3,138
5183886.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
2,942
2,774
5183980.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
1,345
1,294
5184014.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
344
338
5184042.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
337
330
5184066.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
587
568
5184127.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
4,465
4,277
5184257.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
4,772
4,404
5184333.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
1,255
1,200
5184366.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
8,163
7,847
5184532.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
3,587
3,227
5184597.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
1,894
1,817
5184623.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
2,090
1,852
5184654.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
3,475
3,243
5184700.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
7,615
7,199
5184855.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
1,419
1,306
5184893.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
20,085
19,229
5185270.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
11,089
10,797
5185515.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
4,698
4,451
5185567.SQ.FTS.B,
Zero
Cpn,
10/19/23
..
2,611
2,542
5185727.SQ.FTS.B,
Zero
Cpn,
10/20/23
..
893
872
5185810.SQ.FTS.B,
Zero
Cpn,
10/20/23
..
3,412
3,269
5185927.SQ.FTS.B,
Zero
Cpn,
10/20/23
..
8,986
8,702
5186341.SQ.FTS.B,
Zero
Cpn,
10/20/23
..
997
966
5186377.SQ.FTS.B,
Zero
Cpn,
10/20/23
..
9,679
8,892
5186731.SQ.FTS.B,
Zero
Cpn,
10/20/23
..
589
569
5186818.SQ.FTS.B,
Zero
Cpn,
10/20/23
..
2,577
2,416
5187140.SQ.FTS.B,
Zero
Cpn,
10/20/23
..
2,580
2,468
5187726.SQ.FTS.B,
Zero
Cpn,
10/20/23
..
5,413
4,954
5187974.SQ.FTS.B,
Zero
Cpn,
10/20/23
..
881
863
5188076.SQ.FTS.B,
Zero
Cpn,
10/20/23
..
8,407
7,972
5188425.SQ.FTS.B,
Zero
Cpn,
10/20/23
..
15,760
15,314
5188774.SQ.FTS.B,
Zero
Cpn,
10/20/23
..
2,705
2,177
5188827.SQ.FTS.B,
Zero
Cpn,
10/20/23
..
2,620
2,437
5188867.SQ.FTS.B,
Zero
Cpn,
10/20/23
..
28,189
27,291
5189475.SQ.FTS.B,
Zero
Cpn,
10/20/23
..
2,175
2,082
5189542.SQ.FTS.B,
Zero
Cpn,
10/20/23
..
5,182
4,789
5189604.SQ.FTS.B,
Zero
Cpn,
10/20/23
..
9,573
7,776
5189756.SQ.FTS.B,
Zero
Cpn,
10/20/23
..
346
325
5189764.SQ.FTS.B,
Zero
Cpn,
10/20/23
..
6,075
5,872
5189905.SQ.FTS.B,
Zero
Cpn,
10/20/23
..
17,950
17,378
5190292.SQ.FTS.B,
Zero
Cpn,
10/20/23
..
7,676
7,291
5190391.SQ.FTS.B,
Zero
Cpn,
10/20/23
..
22,869
20,162
5198086.SQ.FTS.B,
Zero
Cpn,
10/21/23
..
78,916
72,439
5201739.SQ.FTS.B,
Zero
Cpn,
10/21/23
..
2,177
2,116
5202212.SQ.FTS.B,
Zero
Cpn,
10/21/23
..
3,876
3,706
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5202392.SQ.FTS.B,
Zero
Cpn,
10/21/23
..
$
961
$
904
5202442.SQ.FTS.B,
Zero
Cpn,
10/21/23
..
1,937
1,840
5202499.SQ.FTS.B,
Zero
Cpn,
10/21/23
..
3,113
2,980
5202559.SQ.FTS.B,
Zero
Cpn,
10/21/23
..
260
249
5202606.SQ.FTS.B,
Zero
Cpn,
10/21/23
..
1,465
1,430
5202714.SQ.FTS.B,
Zero
Cpn,
10/21/23
..
40,932
35,528
5203664.SQ.FTS.B,
Zero
Cpn,
10/21/23
..
2,161
1,648
5203698.SQ.FTS.B,
Zero
Cpn,
10/21/23
..
1,403
1,348
5203735.SQ.FTS.B,
Zero
Cpn,
10/21/23
..
6,135
5,296
5203797.SQ.FTS.B,
Zero
Cpn,
10/21/23
..
1,887
1,818
5203935.SQ.FTS.B,
Zero
Cpn,
10/21/23
..
2,912
2,434
5204070.SQ.FTS.B,
Zero
Cpn,
10/22/23
..
3,026
2,925
5204240.SQ.FTS.B,
Zero
Cpn,
10/22/23
..
1,340
1,141
5204280.SQ.FTS.B,
Zero
Cpn,
10/22/23
..
3,028
2,807
5204688.SQ.FTS.B,
Zero
Cpn,
10/22/23
..
5,117
4,685
5204798.SQ.FTS.B,
Zero
Cpn,
10/22/23
..
16,320
15,787
5206327.SQ.FTS.B,
Zero
Cpn,
10/22/23
..
5,973
5,250
5206535.SQ.FTS.B,
Zero
Cpn,
10/22/23
..
2,624
2,248
5206615.SQ.FTS.B,
Zero
Cpn,
10/22/23
..
9,227
8,852
5206948.SQ.FTS.B,
Zero
Cpn,
10/22/23
..
6,592
6,347
5207294.SQ.FTS.B,
Zero
Cpn,
10/22/23
..
6,779
6,619
5207486.SQ.FTS.B,
Zero
Cpn,
10/22/23
..
2,793
2,697
5207544.SQ.FTS.B,
Zero
Cpn,
10/22/23
..
47,747
43,766
5208601.SQ.FTS.B,
Zero
Cpn,
10/22/23
..
4,594
4,476
5209009.SQ.FTS.B,
Zero
Cpn,
10/22/23
..
3,707
3,511
5209284.SQ.FTS.B,
Zero
Cpn,
10/22/23
..
4,042
3,798
5209497.SQ.FTS.B,
Zero
Cpn,
10/22/23
..
1,536
1,497
5209644.SQ.FTS.B,
Zero
Cpn,
10/22/23
..
11,604
11,201
5209774.SQ.FTS.B,
Zero
Cpn,
10/23/23
..
3,389
3,008
5209797.SQ.FTS.B,
Zero
Cpn,
10/23/23
..
1,166
1,034
5209815.SQ.FTS.B,
Zero
Cpn,
10/23/23
..
1,167
1,069
5209822.SQ.FTS.B,
Zero
Cpn,
10/23/23
..
44,317
43,045
5210490.SQ.FTS.B,
Zero
Cpn,
10/23/23
..
1,553
1,490
5210519.SQ.FTS.B,
Zero
Cpn,
10/24/23
..
11,933
7,433
5210616.SQ.FTS.B,
Zero
Cpn,
10/24/23
..
2,283
2,051
5210634.SQ.FTS.B,
Zero
Cpn,
10/24/23
..
4,400
3,856
5210691.SQ.FTS.B,
Zero
Cpn,
10/24/23
..
3,279
2,370
5210732.SQ.FTS.B,
Zero
Cpn,
10/24/23
..
8,162
7,963
5210863.SQ.FTS.B,
Zero
Cpn,
10/24/23
..
1,653
1,622
5210903.SQ.FTS.B,
Zero
Cpn,
10/24/23
..
10,153
9,628
5211045.SQ.FTS.B,
Zero
Cpn,
10/24/23
..
7,498
7,301
5211163.SQ.FTS.B,
Zero
Cpn,
10/24/23
..
6,542
6,191
5211382.SQ.FTS.B,
Zero
Cpn,
10/25/23
..
1,501
1,457
5211496.SQ.FTS.B,
Zero
Cpn,
10/25/23
..
1,126
1,005
5211551.SQ.FTS.B,
Zero
Cpn,
10/25/23
..
994
923
5211599.SQ.FTS.B,
Zero
Cpn,
10/25/23
..
1,375
1,335
5211635.SQ.FTS.B,
Zero
Cpn,
10/25/23
..
2,640
2,575
5211795.SQ.FTS.B,
Zero
Cpn,
10/25/23
..
1,375
1,315
5211869.SQ.FTS.B,
Zero
Cpn,
10/25/23
..
7,619
6,841
5212286.SQ.FTS.B,
Zero
Cpn,
10/25/23
..
8,542
8,242
5212836.SQ.FTS.B,
Zero
Cpn,
10/25/23
..
35,760
34,346
5213740.SQ.FTS.B,
Zero
Cpn,
10/25/23
..
3,764
3,548
5213804.SQ.FTS.B,
Zero
Cpn,
10/25/23
..
3,264
3,037
5213861.SQ.FTS.B,
Zero
Cpn,
10/25/23
..
1,068
1,003
5213875.SQ.FTS.B,
Zero
Cpn,
10/25/23
..
14,117
13,452
5213989.SQ.FTS.B,
Zero
Cpn,
10/25/23
..
3,887
3,774
5214076.SQ.FTS.B,
Zero
Cpn,
10/25/23
..
7,549
7,329
5214246.SQ.FTS.B,
Zero
Cpn,
10/25/23
..
4,505
4,365
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
72
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5214355.SQ.FTS.B,
Zero
Cpn,
10/25/23
..
$
3,414
$
3,032
5214421.SQ.FTS.B,
Zero
Cpn,
10/25/23
..
707
667
5214428.SQ.FTS.B,
Zero
Cpn,
10/25/23
..
50,046
48,050
5215219.SQ.FTS.B,
Zero
Cpn,
10/25/23
..
306
300
5215226.SQ.FTS.B,
Zero
Cpn,
10/25/23
..
21,544
20,788
5215697.SQ.FTS.B,
Zero
Cpn,
10/25/23
..
47,588
45,596
5216200.SQ.FTS.B,
Zero
Cpn,
10/26/23
..
48,274
46,204
5218386.SQ.FTS.B,
Zero
Cpn,
10/26/23
..
13,538
13,064
5218771.SQ.FTS.B,
Zero
Cpn,
10/26/23
..
24,929
23,575
5219348.SQ.FTS.B,
Zero
Cpn,
10/26/23
..
509
388
5219361.SQ.FTS.B,
Zero
Cpn,
10/26/23
..
7,058
6,845
5219548.SQ.FTS.B,
Zero
Cpn,
10/26/23
..
4,166
3,994
5219633.SQ.FTS.B,
Zero
Cpn,
10/26/23
..
6,791
6,259
5219771.SQ.FTS.B,
Zero
Cpn,
10/26/23
..
1,278
1,147
5219790.SQ.FTS.B,
Zero
Cpn,
10/26/23
..
1,039
958
5219804.SQ.FTS.B,
Zero
Cpn,
10/26/23
..
496
468
5219834.SQ.FTS.B,
Zero
Cpn,
10/26/23
..
58,770
57,072
5220791.SQ.FTS.B,
Zero
Cpn,
10/27/23
..
2,388
2,330
5220877.SQ.FTS.B,
Zero
Cpn,
10/27/23
..
5,301
5,101
5221010.SQ.FTS.B,
Zero
Cpn,
10/27/23
..
3,306
3,121
5221098.SQ.FTS.B,
Zero
Cpn,
10/27/23
..
18,917
18,355
5222249.SQ.FTS.B,
Zero
Cpn,
10/27/23
..
19,909
18,588
5222862.SQ.FTS.B,
Zero
Cpn,
10/27/23
..
1,223
1,192
5222933.SQ.FTS.B,
Zero
Cpn,
10/27/23
..
1,443
1,349
5223001.SQ.FTS.B,
Zero
Cpn,
10/27/23
..
1,227
1,202
5223051.SQ.FTS.B,
Zero
Cpn,
10/27/23
..
10,333
9,939
5223440.SQ.FTS.B,
Zero
Cpn,
10/27/23
..
11,801
11,343
5223636.SQ.FTS.B,
Zero
Cpn,
10/27/23
..
4,420
3,191
5223661.SQ.FTS.B,
Zero
Cpn,
10/27/23
..
11,332
9,747
5223758.SQ.FTS.B,
Zero
Cpn,
10/27/23
..
1,827
1,725
5223785.SQ.FTS.B,
Zero
Cpn,
10/27/23
..
11,676
11,258
5224114.SQ.FTS.B,
Zero
Cpn,
10/27/23
..
2,007
1,941
5224224.SQ.FTS.B,
Zero
Cpn,
10/27/23
..
20,368
19,644
5224664.SQ.FTS.B,
Zero
Cpn,
10/27/23
..
9,925
9,714
5224950.SQ.FTS.B,
Zero
Cpn,
10/27/23
..
4,249
4,084
5225012.SQ.FTS.B,
Zero
Cpn,
10/27/23
..
6,454
6,255
5225128.SQ.FTS.B,
Zero
Cpn,
10/27/23
..
12,332
11,839
5230034.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
190
185
5230045.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
6,605
6,337
5230143.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
1,951
1,832
5230280.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
2,619
2,515
5230330.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
1,595
1,185
5230364.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
4,321
4,169
5230521.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
1,352
1,281
5230534.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
3,293
3,119
5230601.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
5,805
5,173
5230738.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
1,316
1,140
5230792.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
2,586
2,486
5230911.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
855
831
5230985.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
1,233
1,104
5231031.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
1,235
1,181
5231874.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
3,248
3,078
5231939.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
1,157
1,106
5231969.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
1,193
1,080
5232009.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
3,577
3,433
5232107.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
4,312
3,987
5232178.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
932
845
5232234.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
1,867
1,791
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5232317.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
$
2,017
$
1,942
5232351.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
23,032
21,628
5232738.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
3,382
3,246
5233083.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
1,659
1,556
5233096.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
1,880
1,795
5233124.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
5,261
5,063
5233266.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
1,924
1,837
5233323.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
1,643
1,587
5233385.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
18,945
18,077
5233666.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
6,739
6,470
5233813.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
13,292
12,753
5234006.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
42,434
35,600
5234592.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
3,343
3,222
5234651.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
1,581
1,497
5234657.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
3,453
3,166
5234771.SQ.FTS.B,
Zero
Cpn,
10/28/23
..
13,890
13,142
5235154.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
470
453
5235183.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
1,137
901
5235252.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
1,519
1,156
5235263.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
995
924
5235289.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
5,613
5,316
5235364.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
2,714
2,609
5235428.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
8,539
8,191
5235712.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
1,635
1,477
5235796.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
4,112
3,898
5235905.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
4,824
4,140
5236022.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
473
447
5236032.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
6,356
6,106
5236227.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
1,547
1,484
5236236.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
50,998
48,981
5237659.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
2,319
2,227
5237705.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
550
490
5237741.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
3,084
2,954
5237815.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
696
637
5237837.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
3,590
3,445
5237941.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
6,574
6,313
5237993.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
22,597
20,972
5238462.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
1,448
1,384
5238482.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
2,957
2,832
5238498.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
6,365
6,138
5238622.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
7,259
6,963
5238818.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
860
822
5238828.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
22,775
21,840
5239196.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
1,612
1,557
5239241.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
2,598
2,317
5239271.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
8,888
8,527
5239409.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
2,261
2,203
5239503.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
1,240
1,190
5239576.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
3,495
3,378
5239721.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
2,780
1,600
5239763.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
1,274
1,217
5239810.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
1,362
1,309
5239828.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
2,449
2,291
5239894.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
2,382
2,285
5239950.SQ.FTS.B,
Zero
Cpn,
10/29/23
..
2,119
2,005
5240029.SQ.FTS.B,
Zero
Cpn,
10/30/23
..
12,281
11,783
5240144.SQ.FTS.B,
Zero
Cpn,
10/30/23
..
3,569
3,423
5240174.SQ.FTS.B,
Zero
Cpn,
10/30/23
..
6,886
6,466
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
73
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5240231.SQ.FTS.B,
Zero
Cpn,
10/30/23
..
$
8,393
$
7,644
5240275.SQ.FTS.B,
Zero
Cpn,
10/30/23
..
1,163
1,117
5240284.SQ.FTS.B,
Zero
Cpn,
10/30/23
..
99
96
5240293.SQ.FTS.B,
Zero
Cpn,
10/30/23
..
5,772
3,738
5240323.SQ.FTS.B,
Zero
Cpn,
10/30/23
..
1,382
1,330
5240332.SQ.FTS.B,
Zero
Cpn,
10/30/23
..
15,230
14,610
5240469.SQ.FTS.B,
Zero
Cpn,
10/30/23
..
1,423
1,365
5240481.SQ.FTS.B,
Zero
Cpn,
10/30/23
..
3,354
3,200
5240513.SQ.FTS.B,
Zero
Cpn,
10/30/23
..
3,025
2,899
5240546.SQ.FTS.B,
Zero
Cpn,
10/30/23
..
1,403
862
5240561.SQ.FTS.B,
Zero
Cpn,
10/30/23
..
1,309
1,104
5240567.SQ.FTS.B,
Zero
Cpn,
10/30/23
..
7,017
5,755
5240619.SQ.FTS.B,
Zero
Cpn,
10/30/23
..
1,697
1,628
5240636.SQ.FTS.B,
Zero
Cpn,
10/30/23
..
5,163
4,812
5240680.SQ.FTS.B,
Zero
Cpn,
10/30/23
..
1,527
1,465
5240704.SQ.FTS.B,
Zero
Cpn,
10/30/23
..
3,428
3,142
5240725.SQ.FTS.B,
Zero
Cpn,
11/01/23
..
4,082
3,915
5240762.SQ.FTS.B,
Zero
Cpn,
11/01/23
..
1,394
1,342
5240793.SQ.FTS.B,
Zero
Cpn,
11/01/23
..
14,148
13,555
5240919.SQ.FTS.B,
Zero
Cpn,
11/01/23
..
740
711
5240923.SQ.FTS.B,
Zero
Cpn,
11/01/23
..
10,695
9,581
5241014.SQ.FTS.B,
Zero
Cpn,
11/01/23
..
10,504
10,078
5241114.SQ.FTS.B,
Zero
Cpn,
11/01/23
..
4,457
4,256
5241173.SQ.FTS.B,
Zero
Cpn,
11/01/23
..
1,551
1,010
5241187.SQ.FTS.B,
Zero
Cpn,
11/01/23
..
1,947
1,868
5241200.SQ.FTS.B,
Zero
Cpn,
11/01/23
..
9,895
9,490
5241272.SQ.FTS.B,
Zero
Cpn,
11/01/23
..
15,598
14,963
5241432.SQ.FTS.B,
Zero
Cpn,
11/01/23
..
3,448
3,265
5241454.SQ.FTS.B,
Zero
Cpn,
11/01/23
..
4,911
4,713
5242267.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
5,852
5,416
5242429.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
10,364
9,897
5242951.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
6,643
6,232
5243178.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
3,752
3,255
5243381.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
2,980
2,698
5243401.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
9,892
9,022
5243527.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
811
754
5243533.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
2,637
2,523
5243558.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
5,695
5,449
5243657.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
3,050
2,925
5243698.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
9,335
8,985
5243921.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
13,922
13,310
5244124.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
4,186
3,632
5244180.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
860
824
5244187.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
10,001
9,475
5244310.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
14,676
13,763
5244471.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
658
626
5244481.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
1,465
1,415
5244523.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
15,150
14,531
5244676.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
6,678
6,429
5244698.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
3,028
2,916
5244712.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
15,100
11,996
5244865.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
3,925
3,649
5244921.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
2,257
1,972
5244930.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
5,479
5,257
5245023.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
1,247
1,084
5245034.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
678
659
5245096.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
2,245
1,964
5245124.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
3,739
3,624
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5245246.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
$
6,112
$
5,862
5245354.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
9,314
8,701
5245503.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
819
775
5245526.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
2,066
1,985
5245556.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
2,942
2,734
5245587.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
8,586
8,018
5245675.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
5,017
4,828
5245713.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
867
827
5245751.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
2,393
2,221
5245852.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
10,899
9,146
5245963.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
2,088
1,982
5245998.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
1,048
971
5246005.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
626
581
5246013.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
2,632
2,405
5246068.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
3,124
3,007
5246104.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
1,316
1,221
5246181.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
11,273
10,682
5246299.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
1,168
1,056
5246319.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
9,887
9,192
5246421.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
20,509
18,795
5246622.SQ.FTS.B,
Zero
Cpn,
11/02/23
..
9,176
8,802
5246655.SQ.FTS.B,
Zero
Cpn,
11/03/23
..
2,894
2,788
5246723.SQ.FTS.B,
Zero
Cpn,
11/03/23
..
2,751
2,648
5246815.SQ.FTS.B,
Zero
Cpn,
11/03/23
..
2,888
2,775
5246866.SQ.FTS.B,
Zero
Cpn,
11/03/23
..
78,442
73,532
5248783.SQ.FTS.B,
Zero
Cpn,
11/03/23
..
1,716
1,652
5248832.SQ.FTS.B,
Zero
Cpn,
11/03/23
..
2,951
2,790
5248885.SQ.FTS.B,
Zero
Cpn,
11/03/23
..
6,337
6,046
5249007.SQ.FTS.B,
Zero
Cpn,
11/03/23
..
4,910
4,699
5249074.SQ.FTS.B,
Zero
Cpn,
11/03/23
..
23,262
21,714
5249307.SQ.FTS.B,
Zero
Cpn,
11/03/23
..
5,246
5,034
5249407.SQ.FTS.B,
Zero
Cpn,
11/03/23
..
1,955
1,875
5249481.SQ.FTS.B,
Zero
Cpn,
11/03/23
..
12,035
11,481
5249647.SQ.FTS.B,
Zero
Cpn,
11/03/23
..
6,399
6,129
5249781.SQ.FTS.B,
Zero
Cpn,
11/03/23
..
1,081
1,006
5249813.SQ.FTS.B,
Zero
Cpn,
11/03/23
..
11,323
10,872
5250058.SQ.FTS.B,
Zero
Cpn,
11/03/23
..
1,857
1,772
5250117.SQ.FTS.B,
Zero
Cpn,
11/03/23
..
2,329
2,241
5250237.SQ.FTS.B,
Zero
Cpn,
11/03/23
..
8,180
7,648
5250321.SQ.FTS.B,
Zero
Cpn,
11/03/23
..
6,272
5,802
5250401.SQ.FTS.B,
Zero
Cpn,
11/03/23
..
6,894
5,677
5250531.SQ.FTS.B,
Zero
Cpn,
11/03/23
..
446
425
5250542.SQ.FTS.B,
Zero
Cpn,
11/03/23
..
15,691
15,054
5250900.SQ.FTS.B,
Zero
Cpn,
11/03/23
..
442
427
5250909.SQ.FTS.B,
Zero
Cpn,
11/03/23
..
5,581
4,841
5251077.SQ.FTS.B,
Zero
Cpn,
11/03/23
..
7,294
7,022
5251279.SQ.FTS.B,
Zero
Cpn,
11/03/23
..
67,203
63,654
5251953.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
1,860
1,692
5252018.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
10,963
10,583
5252278.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
571
541
5252822.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
1,173
1,133
5252966.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
2,417
2,285
5253233.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
3,965
3,802
5253686.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
4,604
4,039
5253966.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
5,391
5,159
5254175.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
22,283
20,339
5254735.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
5,145
4,934
5254858.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
4,386
4,208
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
74
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5255229.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
$
5,967
$
5,724
5255350.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
1,989
1,922
5255436.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
5,049
4,843
5255589.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
6,925
6,492
5255700.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
16,046
14,540
5255951.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
5,517
5,237
5256113.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
6,783
6,503
5256269.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
1,261
1,185
5256291.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
40,345
38,687
5256777.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
2,138
2,068
5256900.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
2,184
1,849
5256925.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
26,681
22,509
5257252.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
592
573
5257270.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
945
896
5257274.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
935
804
5257285.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
869
787
5257298.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
14,941
12,605
5257478.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
3,207
3,092
5257541.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
10,271
9,208
5257684.SQ.FTS.B,
Zero
Cpn,
11/04/23
..
6,341
6,068
5262318.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
390
377
5262347.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
25,086
24,010
5262837.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
2,882
2,783
5262973.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
1,527
1,468
5263059.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
8,493
8,139
5263814.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
2,374
2,247
5263908.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
1,110
1,068
5263945.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
559
532
5263996.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
526
435
5264010.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
3,430
3,191
5264122.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
13,588
12,198
5264287.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
6,621
6,226
5264439.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
1,683
1,592
5264467.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
1,241
1,206
5264599.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
4,790
4,592
5264668.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
1,546
1,486
5264681.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
29,134
26,386
5265031.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
22,409
21,059
5265357.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
1,715
1,624
5265400.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
725
699
5265480.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
1,578
1,514
5265506.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
10,173
9,696
5265661.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
2,595
2,402
5265724.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
16,146
14,803
5265935.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
8,102
7,602
5266078.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
4,143
3,978
5266122.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
7,094
6,845
5266319.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
4,361
4,172
5266384.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
1,772
1,324
5266415.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
3,378
3,239
5266471.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
5,555
5,325
5266604.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
1,944
1,359
5266643.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
2,117
2,040
5266715.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
4,180
3,743
5266796.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
4,760
4,562
5266838.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
1,601
1,534
5266891.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
3,938
3,784
5267025.SQ.FTS.B,
Zero
Cpn,
11/05/23
..
2,896
2,777
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5267129.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
$
1,101
$
1,049
5267196.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
4,456
4,081
5267302.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
448
380
5267314.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
16,606
15,369
5267673.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
520
501
5267689.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
17,108
16,359
5268442.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
3,545
3,399
5268607.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
3,900
3,662
5268806.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
1,034
991
5268857.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
3,178
3,049
5269141.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
4,520
4,092
5269783.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
2,440
2,128
5269840.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
2,301
2,208
5269909.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
2,356
2,284
5270012.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
3,567
3,415
5270090.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
2,456
2,253
5270173.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
686
659
5270183.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
9,400
8,719
5270445.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
695
665
5270469.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
13,735
13,261
5270751.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
2,036
1,930
5270785.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
1,536
1,464
5270817.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
1,526
1,325
5270825.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
5,537
4,106
5270868.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
8,794
8,428
5270964.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
4,296
3,631
5271062.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
1,043
994
5271109.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
614
570
5271157.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
23,495
21,964
5271506.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
4,782
4,490
5271567.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
3,190
2,912
5271609.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
64,059
61,047
5272344.SQ.FTS.B,
Zero
Cpn,
11/06/23
..
18,925
18,303
5272553.SQ.FTS.B,
Zero
Cpn,
11/07/23
..
10,247
9,811
5272624.SQ.FTS.B,
Zero
Cpn,
11/07/23
..
2,979
2,737
5272645.SQ.FTS.B,
Zero
Cpn,
11/07/23
..
8,738
8,192
5272715.SQ.FTS.B,
Zero
Cpn,
11/07/23
..
1,435
1,357
5272771.SQ.FTS.B,
Zero
Cpn,
11/07/23
..
12,742
11,803
5272850.SQ.FTS.B,
Zero
Cpn,
11/07/23
..
10,868
10,417
5273056.SQ.FTS.B,
Zero
Cpn,
11/07/23
..
8,431
8,099
5273139.SQ.FTS.B,
Zero
Cpn,
11/07/23
..
1,230
1,179
5273151.SQ.FTS.B,
Zero
Cpn,
11/07/23
..
1,463
1,403
5273166.SQ.FTS.B,
Zero
Cpn,
11/07/23
..
4,138
3,998
5273222.SQ.FTS.B,
Zero
Cpn,
11/07/23
..
15,122
14,490
5273361.SQ.FTS.B,
Zero
Cpn,
11/08/23
..
13,724
13,151
5273499.SQ.FTS.B,
Zero
Cpn,
11/08/23
..
190
185
5273532.SQ.FTS.B,
Zero
Cpn,
11/08/23
..
2,535
2,317
5273564.SQ.FTS.B,
Zero
Cpn,
11/08/23
..
21,141
19,992
5273714.SQ.FTS.B,
Zero
Cpn,
11/08/23
..
4,252
3,523
5273737.SQ.FTS.B,
Zero
Cpn,
11/08/23
..
5,960
5,707
5273786.SQ.FTS.B,
Zero
Cpn,
11/08/23
..
6,931
6,349
5273846.SQ.FTS.B,
Zero
Cpn,
11/08/23
..
6,869
5,804
5273898.SQ.FTS.B,
Zero
Cpn,
11/08/23
..
799
755
5273909.SQ.FTS.B,
Zero
Cpn,
11/08/23
..
4,250
3,938
5273943.SQ.FTS.B,
Zero
Cpn,
11/08/23
..
2,500
2,396
5274123.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
6,891
6,605
5274423.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
24,682
23,339
5275637.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
1,456
1,395
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
75
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5275676.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
$
4,688
$
4,490
5275801.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
4,561
4,316
5275895.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
4,626
4,379
5275943.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
2,265
2,159
5275977.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
18,389
17,622
5276393.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
782
682
5276774.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
3,315
3,158
5276833.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
478
427
5276854.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
223
214
5276903.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
1,311
1,175
5276911.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
1,881
1,753
5276919.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
7,870
7,211
5277019.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
29,363
27,402
5277282.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
1,484
1,384
5277296.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
1,830
1,756
5277352.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
810
774
5277364.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
2,458
1,896
5277403.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
5,487
5,287
5277559.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
17,434
16,485
5277789.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
3,656
3,505
5277825.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
11,383
10,989
5278065.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
114
111
5278071.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
6,101
5,842
5278122.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
6,347
6,083
5278180.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
2,521
2,440
5278242.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
4,337
4,007
5278307.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
7,118
6,826
5278379.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
4,923
4,548
5278415.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
13,245
12,303
5278534.SQ.FTS.B,
Zero
Cpn,
11/09/23
..
27,846
26,127
5278595.SQ.FTS.B,
Zero
Cpn,
11/10/23
..
2,501
2,317
5278900.SQ.FTS.B,
Zero
Cpn,
11/10/23
..
9,121
8,537
5279030.SQ.FTS.B,
Zero
Cpn,
11/10/23
..
774
719
5279041.SQ.FTS.B,
Zero
Cpn,
11/10/23
..
16,923
15,901
5279298.SQ.FTS.B,
Zero
Cpn,
11/10/23
..
8,746
8,334
5279482.SQ.FTS.B,
Zero
Cpn,
11/10/23
..
5,954
5,703
5279563.SQ.FTS.B,
Zero
Cpn,
11/10/23
..
3,726
3,417
5279609.SQ.FTS.B,
Zero
Cpn,
11/10/23
..
5,573
5,201
5279675.SQ.FTS.B,
Zero
Cpn,
11/10/23
..
49,580
47,666
5280393.SQ.FTS.B,
Zero
Cpn,
11/10/23
..
10,580
9,288
5280553.SQ.FTS.B,
Zero
Cpn,
11/10/23
..
16,312
15,127
5280789.SQ.FTS.B,
Zero
Cpn,
11/10/23
..
1,617
1,540
5280864.SQ.FTS.B,
Zero
Cpn,
11/10/23
..
13,207
12,613
5280986.SQ.FTS.B,
Zero
Cpn,
11/10/23
..
1,327
1,233
5281045.SQ.FTS.B,
Zero
Cpn,
11/10/23
..
1,914
1,770
5281087.SQ.FTS.B,
Zero
Cpn,
11/10/23
..
938
862
5281096.SQ.FTS.B,
Zero
Cpn,
11/10/23
..
1,204
1,103
5281116.SQ.FTS.B,
Zero
Cpn,
11/10/23
..
25,193
24,224
5281451.SQ.FTS.B,
Zero
Cpn,
11/10/23
..
18,353
17,530
5281609.SQ.FTS.B,
Zero
Cpn,
11/10/23
..
43,622
41,811
5282038.SQ.FTS.B,
Zero
Cpn,
11/11/23
..
13,513
12,947
5282181.SQ.FTS.B,
Zero
Cpn,
11/11/23
..
9,189
8,407
5282272.SQ.FTS.B,
Zero
Cpn,
11/11/23
..
8,835
8,300
5282362.SQ.FTS.B,
Zero
Cpn,
11/11/23
..
5,243
4,965
5282437.SQ.FTS.B,
Zero
Cpn,
11/11/23
..
46,206
43,620
5283183.SQ.FTS.B,
Zero
Cpn,
11/11/23
..
7,218
6,915
5283269.SQ.FTS.B,
Zero
Cpn,
11/11/23
..
895
860
5283277.SQ.FTS.B,
Zero
Cpn,
11/11/23
..
1,465
1,278
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5283284.SQ.FTS.B,
Zero
Cpn,
11/11/23
..
$
9,336
$
8,483
5283438.SQ.FTS.B,
Zero
Cpn,
11/11/23
..
1,782
1,708
5283467.SQ.FTS.B,
Zero
Cpn,
11/11/23
..
17,948
17,270
5283753.SQ.FTS.B,
Zero
Cpn,
11/11/23
..
21,025
20,036
5284007.SQ.FTS.B,
Zero
Cpn,
11/11/23
..
3,862
3,573
5284064.SQ.FTS.B,
Zero
Cpn,
11/11/23
..
18,572
17,705
5284349.SQ.FTS.B,
Zero
Cpn,
11/11/23
..
42,366
40,450
5284691.SQ.FTS.B,
Zero
Cpn,
11/11/23
..
12,330
9,544
5284789.SQ.FTS.B,
Zero
Cpn,
11/11/23
..
3,991
3,791
5284829.SQ.FTS.B,
Zero
Cpn,
11/11/23
..
15,236
14,387
5284951.SQ.FTS.B,
Zero
Cpn,
11/11/23
..
6,362
6,107
5286795.SQ.FTS.B,
Zero
Cpn,
11/12/23
..
1,866
1,729
5286813.SQ.FTS.B,
Zero
Cpn,
11/12/23
..
7,609
6,964
5286864.SQ.FTS.B,
Zero
Cpn,
11/12/23
..
13,374
12,793
5287039.SQ.FTS.B,
Zero
Cpn,
11/12/23
..
24,249
22,417
5287336.SQ.FTS.B,
Zero
Cpn,
11/12/23
..
12,372
11,091
5287595.SQ.FTS.B,
Zero
Cpn,
11/12/23
..
2,014
1,829
5287635.SQ.FTS.B,
Zero
Cpn,
11/12/23
..
6,180
5,894
5287784.SQ.FTS.B,
Zero
Cpn,
11/12/23
..
2,456
2,361
5287814.SQ.FTS.B,
Zero
Cpn,
11/12/23
..
3,607
3,413
5287841.SQ.FTS.B,
Zero
Cpn,
11/12/23
..
21,930
21,007
5288261.SQ.FTS.B,
Zero
Cpn,
11/12/23
..
2,094
2,014
5288333.SQ.FTS.B,
Zero
Cpn,
11/12/23
..
2,623
2,513
5288483.SQ.FTS.B,
Zero
Cpn,
11/12/23
..
1,744
1,452
5288523.SQ.FTS.B,
Zero
Cpn,
11/12/23
..
1,939
1,773
5288567.SQ.FTS.B,
Zero
Cpn,
11/12/23
..
1,604
1,378
5288588.SQ.FTS.B,
Zero
Cpn,
11/12/23
..
66,456
53,318
5289180.SQ.FTS.B,
Zero
Cpn,
11/12/23
..
4,116
3,956
5289252.SQ.FTS.B,
Zero
Cpn,
11/12/23
..
3,211
2,831
5289293.SQ.FTS.B,
Zero
Cpn,
11/12/23
..
17,206
15,613
5289564.SQ.FTS.B,
Zero
Cpn,
11/12/23
..
6,554
6,060
5289607.SQ.FTS.B,
Zero
Cpn,
11/12/23
..
2,350
2,048
5289650.SQ.FTS.B,
Zero
Cpn,
11/12/23
..
4,639
4,459
5289737.SQ.FTS.B,
Zero
Cpn,
11/12/23
..
7,845
7,523
5289838.SQ.FTS.B,
Zero
Cpn,
11/12/23
..
3,598
3,427
5289917.SQ.FTS.B,
Zero
Cpn,
11/12/23
..
763
493
5289935.SQ.FTS.B,
Zero
Cpn,
11/12/23
..
6,427
6,158
5289989.SQ.FTS.B,
Zero
Cpn,
11/12/23
..
3,777
3,618
5290032.SQ.FTS.B,
Zero
Cpn,
11/12/23
..
40,261
37,714
5290329.SQ.FTS.B,
Zero
Cpn,
11/12/23
..
4,321
4,090
5290432.SQ.FTS.B,
Zero
Cpn,
11/13/23
..
687
545
5290456.SQ.FTS.B,
Zero
Cpn,
11/13/23
..
1,759
1,514
5290493.SQ.FTS.B,
Zero
Cpn,
11/13/23
..
1,735
1,677
5290545.SQ.FTS.B,
Zero
Cpn,
11/13/23
..
1,279
1,226
5290574.SQ.FTS.B,
Zero
Cpn,
11/13/23
..
19,910
19,067
5291008.SQ.FTS.B,
Zero
Cpn,
11/13/23
..
707
677
5291040.SQ.FTS.B,
Zero
Cpn,
11/13/23
..
679
622
5291095.SQ.FTS.B,
Zero
Cpn,
11/13/23
..
14,070
12,910
5291408.SQ.FTS.B,
Zero
Cpn,
11/13/23
..
5,296
5,017
5291508.SQ.FTS.B,
Zero
Cpn,
11/13/23
..
1,453
1,392
5291536.SQ.FTS.B,
Zero
Cpn,
11/13/23
..
4,733
4,428
5291588.SQ.FTS.B,
Zero
Cpn,
11/13/23
..
594
559
5291602.SQ.FTS.B,
Zero
Cpn,
11/13/23
..
842
807
5291623.SQ.FTS.B,
Zero
Cpn,
11/13/23
..
36,492
34,804
5291964.SQ.FTS.B,
Zero
Cpn,
11/13/23
..
2,291
1,914
5292026.SQ.FTS.B,
Zero
Cpn,
11/13/23
..
6,360
4,888
5292089.SQ.FTS.B,
Zero
Cpn,
11/13/23
..
3,147
2,909
5292138.SQ.FTS.B,
Zero
Cpn,
11/13/23
..
14,776
13,557
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
76
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5292390.SQ.FTS.B,
Zero
Cpn,
11/13/23
..
$
12,628
$
12,140
5292829.SQ.FTS.B,
Zero
Cpn,
11/13/23
..
4,811
4,418
5292889.SQ.FTS.B,
Zero
Cpn,
11/13/23
..
4,066
3,878
5292941.SQ.FTS.B,
Zero
Cpn,
11/13/23
..
28,730
27,568
5293305.SQ.FTS.B,
Zero
Cpn,
11/13/23
..
5,729
5,473
5293370.SQ.FTS.B,
Zero
Cpn,
11/13/23
..
4,885
4,653
5293438.SQ.FTS.B,
Zero
Cpn,
11/13/23
..
350
337
5293444.SQ.FTS.B,
Zero
Cpn,
11/13/23
..
3,975
3,768
5293536.SQ.FTS.B,
Zero
Cpn,
11/13/23
..
44,320
42,194
5293585.SQ.FTS.B,
Zero
Cpn,
11/14/23
..
12,881
12,317
5293668.SQ.FTS.B,
Zero
Cpn,
11/14/23
..
9,546
7,958
5293715.SQ.FTS.B,
Zero
Cpn,
11/14/23
..
20,163
19,300
5293871.SQ.FTS.B,
Zero
Cpn,
11/14/23
..
5,021
4,185
5293907.SQ.FTS.B,
Zero
Cpn,
11/14/23
..
5,045
4,595
5293955.SQ.FTS.B,
Zero
Cpn,
11/14/23
..
7,733
6,826
5294003.SQ.FTS.B,
Zero
Cpn,
11/14/23
..
2,582
2,361
5294032.SQ.FTS.B,
Zero
Cpn,
11/14/23
..
7,066
6,766
5294104.SQ.FTS.B,
Zero
Cpn,
11/14/23
..
9,250
8,858
5294185.SQ.FTS.B,
Zero
Cpn,
11/14/23
..
7,651
7,291
5294241.SQ.FTS.B,
Zero
Cpn,
11/14/23
..
5,415
5,220
5294289.SQ.FTS.B,
Zero
Cpn,
11/15/23
..
2,268
2,161
5294309.SQ.FTS.B,
Zero
Cpn,
11/15/23
..
1,316
951
5294320.SQ.FTS.B,
Zero
Cpn,
11/15/23
..
2,673
2,561
5294340.SQ.FTS.B,
Zero
Cpn,
11/15/23
..
2,139
2,055
5294366.SQ.FTS.B,
Zero
Cpn,
11/15/23
..
11,590
10,966
5294479.SQ.FTS.B,
Zero
Cpn,
11/15/23
..
3,837
3,676
5294523.SQ.FTS.B,
Zero
Cpn,
11/15/23
..
3,603
3,451
5294567.SQ.FTS.B,
Zero
Cpn,
11/15/23
..
10,439
9,996
5294657.SQ.FTS.B,
Zero
Cpn,
11/15/23
..
8,709
8,138
5294734.SQ.FTS.B,
Zero
Cpn,
11/15/23
..
6,138
5,895
5294805.SQ.FTS.B,
Zero
Cpn,
11/15/23
..
36,495
31,181
5295058.SQ.FTS.B,
Zero
Cpn,
11/15/23
..
1,016
973
5295185.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
4,269
4,088
5295255.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
6,879
6,167
5295402.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
1,474
1,413
5295429.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
1,896
1,829
5295480.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
8,445
8,088
5295701.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
969
918
5295730.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
4,806
4,618
5295891.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
22,311
21,244
5296246.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
1,548
1,440
5296257.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
626
589
5296265.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
3,151
2,982
5296302.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
2,827
2,673
5296350.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
1,014
971
5296363.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
2,527
2,297
5296379.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
1,583
1,500
5296402.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
13,844
12,828
5296558.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
2,136
2,012
5296588.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
2,398
2,234
5296624.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
62,093
58,390
5297029.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
514
491
5297035.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
4,767
4,497
5297063.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
559
489
5297074.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
3,927
3,761
5297119.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
8,552
8,204
5297175.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
1,098
1,048
5297221.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
520
484
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5297224.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
$
6,165
$
5,718
5297250.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
2,074
1,925
5297265.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
12,727
12,238
5297347.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
3,873
3,642
5297382.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
4,428
4,201
5297428.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
8,386
8,028
5297487.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
17,038
15,878
5297588.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
11,218
10,740
5297646.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
4,236
3,995
5297658.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
3,607
3,417
5297682.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
784
736
5297688.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
2,307
2,210
5297697.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
10,399
9,326
5297747.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
4,166
3,989
5297761.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
11,887
11,167
5297910.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
13,424
12,549
5298049.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
9,142
8,242
5298136.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
2,235
1,967
5298171.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
1,543
1,438
5298179.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
4,978
4,766
5298214.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
3,769
3,512
5298241.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
468
447
5298248.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
13,446
11,886
5298409.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
5,044
4,807
5298623.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
3,128
2,983
5298672.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
16,920
16,200
5298892.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
55,450
52,448
5299429.SQ.FTS.B,
Zero
Cpn,
11/16/23
..
7,175
6,797
5299486.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
4,196
3,935
5299544.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
327
313
5299563.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
35,516
33,586
5300019.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
2,501
2,340
5300046.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
4,009
3,844
5300143.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
2,080
1,991
5300172.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
7,914
7,481
5300239.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
1,145
1,063
5300265.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
448
431
5300321.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
1,358
1,137
5300323.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
2,136
1,799
5300360.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
3,849
3,686
5300388.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
508
489
5300442.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
1,920
1,789
5300472.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
1,856
1,749
5300633.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
7,086
6,822
5300948.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
2,378
2,237
5301037.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
1,321
1,261
5301202.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
9,425
9,027
5302399.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
6,121
5,861
5302557.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
1,171
1,087
5302569.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
9,052
8,319
5302815.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
5,657
5,179
5302910.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
8,220
7,895
5303109.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
3,434
2,950
5303173.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
2,014
1,717
5303214.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
2,101
2,013
5303269.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
11,000
9,735
5303459.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
3,863
3,698
5303539.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
6,185
4,792
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
77
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5303589.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
$
3,365
$
3,244
5303663.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
9,262
8,870
5303881.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
30,066
28,193
5304262.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
2,133
1,914
5304303.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
14,308
13,672
5304427.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
8,112
7,183
5304517.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
12,536
11,758
5304590.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
34,098
32,648
5304956.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
3,289
3,109
5304995.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
4,855
4,529
5305016.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
2,647
2,499
5305048.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
1,159
1,066
5305067.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
4,938
4,657
5305103.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
1,460
1,254
5305113.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
2,236
2,122
5305120.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
5,327
4,718
5305172.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
2,167
1,955
5305198.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
413
400
5305218.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
1,532
1,403
5305242.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
7,593
7,282
5305359.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
1,344
1,287
5305370.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
985
884
5305380.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
18,616
17,821
5305581.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
13,339
12,373
5305694.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
1,855
1,777
5305701.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
1,429
1,336
5305708.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
1,860
1,787
5305739.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
19,948
19,099
5305936.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
14,406
13,715
5306070.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
3,176
3,043
5306117.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
1,350
938
5306142.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
1,292
1,168
5306257.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
8,639
8,320
5306448.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
8,993
8,486
5306568.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
1,260
1,218
5306642.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
8,087
7,562
5306730.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
766
743
5306751.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
2,467
2,287
5306787.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
2,300
2,211
5306799.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
972
930
5306815.SQ.FTS.B,
Zero
Cpn,
11/17/23
..
47,700
45,079
5307314.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
5,260
5,036
5307415.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
903
846
5307479.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
8,172
7,826
5307590.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
3,642
3,314
5307630.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
6,644
6,361
5307874.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
4,108
3,919
5307959.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
1,855
1,642
5308040.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
2,794
2,649
5308247.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
13,548
12,967
5308603.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
12,272
11,772
5309391.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
4,427
4,238
5309822.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
12,295
11,771
5310449.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
3,016
2,847
5310569.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
203
197
5310591.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
3,378
2,954
5310645.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
577
554
5310689.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
962
906
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5310729.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
$
2,076
$
1,928
5310762.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
7,437
7,121
5310856.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
2,020
1,856
5310920.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
1,989
1,905
5310949.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
750
718
5310960.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
7,033
6,714
5311098.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
1,725
1,641
5311109.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
10,245
9,320
5311226.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
3,861
3,739
5311402.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
19,280
18,457
5311695.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
567
549
5311717.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
1,388
1,114
5311724.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
45,006
42,856
5312373.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
20,768
19,428
5312571.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
27,912
26,405
5312809.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
30,761
28,781
5313022.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
4,477
4,244
5313078.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
1,803
1,683
5313098.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
4,649
4,073
5313138.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
20,210
19,344
5313316.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
1,344
1,292
5313350.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
11,323
10,878
5313519.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
14,780
14,069
5313630.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
3,321
3,169
5313684.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
14,770
13,706
5313751.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
7,058
6,773
5313782.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
15,218
14,569
5313859.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
6,648
6,363
5313916.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
2,919
2,795
5313940.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
1,105
1,058
5313952.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
2,057
1,972
5313978.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
12,113
11,617
5314056.SQ.FTS.B,
Zero
Cpn,
11/18/23
..
62,690
58,783
5315966.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
1,881
1,803
5315991.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
21,267
19,055
5316089.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
1,234
1,166
5316097.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
469
431
5316105.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
776
741
5316109.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
13,545
12,890
5316216.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
4,426
4,136
5316243.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
4,831
4,622
5316277.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
701
679
5316288.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
9,426
8,915
5316383.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
390
336
5316389.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
3,871
3,476
5316430.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
2,010
1,921
5316446.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
30,607
24,905
5316730.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
27,456
26,217
5317056.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
596
572
5317062.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
1,632
1,541
5317081.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
9,831
9,224
5317234.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
4,272
3,438
5317257.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
4,261
4,113
5317373.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
548
520
5317402.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
10,281
9,622
5317481.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
812
711
5317497.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
2,968
2,785
5317517.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
1,369
1,178
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
78
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5317521.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
$
14,302
$
13,644
5317587.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
12,020
10,937
5317679.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
9,916
9,185
5317744.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
10,066
9,506
5317843.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
3,599
3,438
5317919.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
43,880
41,992
5318467.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
7,559
5,949
5318527.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
64,491
61,069
5319057.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
4,658
4,461
5319158.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
26,846
24,814
5319336.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
6,480
6,202
5319378.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
13,862
12,516
5319489.SQ.FTS.B,
Zero
Cpn,
11/19/23
..
9,087
8,430
5319656.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
4,410
4,041
5319781.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
1,755
1,680
5319830.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
1,714
1,621
5319861.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
9,275
8,874
5319985.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
31,855
27,365
5320343.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
3,172
2,887
5320387.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
1,214
1,149
5320411.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
1,830
1,762
5320457.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
671
560
5320466.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
6,624
6,349
5320674.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
1,887
1,322
5320762.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
10,737
8,650
5321126.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
492
457
5321141.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
2,219
2,123
5321208.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
2,240
2,110
5321250.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
2,224
1,792
5321268.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
33,122
31,690
5321739.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
6,255
5,928
5321784.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
20,570
19,230
5322010.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
12,680
12,089
5322171.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
2,107
1,724
5322260.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
8,205
7,616
5322288.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
749
645
5322297.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
2,828
2,650
5322315.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
11,461
10,759
5322403.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
6,276
6,016
5322476.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
5,475
5,238
5322534.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
4,259
4,083
5322621.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
2,697
2,581
5322730.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
2,152
1,928
5322748.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
1,450
1,384
5322782.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
4,914
4,648
5322850.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
4,038
3,847
5322921.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
9,098
8,659
5323040.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
9,136
8,778
5323101.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
6,540
6,129
5323155.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
1,383
1,268
5323167.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
619
567
5323174.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
4,357
4,170
5323204.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
3,456
3,223
5323235.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
8,426
7,333
5323357.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
30,627
29,310
5323728.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
2,677
2,562
5323759.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
5,799
5,538
5323795.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
1,184
1,023
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5323820.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
$
1,971
$
1,878
5323857.SQ.FTS.B,
Zero
Cpn,
11/20/23
..
37,874
36,031
5324162.SQ.FTS.B,
Zero
Cpn,
11/21/23
..
25,092
23,874
5324255.SQ.FTS.B,
Zero
Cpn,
11/21/23
..
1,369
1,314
5324264.SQ.FTS.B,
Zero
Cpn,
11/21/23
..
2,659
2,551
5324286.SQ.FTS.B,
Zero
Cpn,
11/21/23
..
1,663
1,573
5324296.SQ.FTS.B,
Zero
Cpn,
11/21/23
..
8,365
8,002
5324352.SQ.FTS.B,
Zero
Cpn,
11/21/23
..
5,472
5,234
5324375.SQ.FTS.B,
Zero
Cpn,
11/21/23
..
7,337
6,927
5324421.SQ.FTS.B,
Zero
Cpn,
11/21/23
..
4,743
4,538
5324443.SQ.FTS.B,
Zero
Cpn,
11/21/23
..
13,227
12,611
5324510.SQ.FTS.B,
Zero
Cpn,
11/21/23
..
3,726
3,458
5324525.SQ.FTS.B,
Zero
Cpn,
11/21/23
..
4,264
3,999
5324537.SQ.FTS.B,
Zero
Cpn,
11/21/23
..
647
593
5324550.SQ.FTS.B,
Zero
Cpn,
11/21/23
..
5,941
5,366
5324590.SQ.FTS.B,
Zero
Cpn,
11/21/23
..
15,271
13,764
5324667.SQ.FTS.B,
Zero
Cpn,
11/21/23
..
7,820
7,387
5324716.SQ.FTS.B,
Zero
Cpn,
11/21/23
..
902
854
5324728.SQ.FTS.B,
Zero
Cpn,
11/21/23
..
691
642
5324731.SQ.FTS.B,
Zero
Cpn,
11/21/23
..
1,591
1,514
5324739.SQ.FTS.B,
Zero
Cpn,
11/21/23
..
3,984
2,943
5324795.SQ.FTS.B,
Zero
Cpn,
11/21/23
..
4,332
4,128
5324818.SQ.FTS.B,
Zero
Cpn,
11/21/23
..
1,412
1,299
5324825.SQ.FTS.B,
Zero
Cpn,
11/21/23
..
5,300
5,071
5324852.SQ.FTS.B,
Zero
Cpn,
11/21/23
..
17,936
17,171
5324979.SQ.FTS.B,
Zero
Cpn,
11/22/23
..
486
425
5324983.SQ.FTS.B,
Zero
Cpn,
11/22/23
..
980
935
5324995.SQ.FTS.B,
Zero
Cpn,
11/22/23
..
2,021
1,879
5325009.SQ.FTS.B,
Zero
Cpn,
11/22/23
..
8,681
7,447
5325046.SQ.FTS.B,
Zero
Cpn,
11/22/23
..
397
361
5325050.SQ.FTS.B,
Zero
Cpn,
11/22/23
..
10,525
10,102
5325109.SQ.FTS.B,
Zero
Cpn,
11/22/23
..
3,744
2,613
5325139.SQ.FTS.B,
Zero
Cpn,
11/22/23
..
23,193
22,193
5325264.SQ.FTS.B,
Zero
Cpn,
11/22/23
..
2,154
2,060
5325272.SQ.FTS.B,
Zero
Cpn,
11/22/23
..
1,820
1,751
5325277.SQ.FTS.B,
Zero
Cpn,
11/22/23
..
1,250
1,197
5325282.SQ.FTS.B,
Zero
Cpn,
11/22/23
..
1,995
1,884
5325289.SQ.FTS.B,
Zero
Cpn,
11/22/23
..
2,670
1,820
5325300.SQ.FTS.B,
Zero
Cpn,
11/22/23
..
2,636
2,442
5325316.SQ.FTS.B,
Zero
Cpn,
11/22/23
..
712
681
5325323.SQ.FTS.B,
Zero
Cpn,
11/22/23
..
2,977
2,869
5325339.SQ.FTS.B,
Zero
Cpn,
11/22/23
..
715
693
5325352.SQ.FTS.B,
Zero
Cpn,
11/22/23
..
4,974
4,744
5325377.SQ.FTS.B,
Zero
Cpn,
11/22/23
..
2,655
2,541
5325394.SQ.FTS.B,
Zero
Cpn,
11/22/23
..
5,598
5,187
5325408.SQ.FTS.B,
Zero
Cpn,
11/22/23
..
7,657
7,232
5325443.SQ.FTS.B,
Zero
Cpn,
11/22/23
..
3,374
3,228
5325465.SQ.FTS.B,
Zero
Cpn,
11/22/23
..
901
842
5325470.SQ.FTS.B,
Zero
Cpn,
11/22/23
..
17,855
17,079
5325561.SQ.FTS.B,
Zero
Cpn,
11/22/23
..
4,418
4,257
5325597.SQ.FTS.B,
Zero
Cpn,
11/22/23
..
5,465
5,229
5325611.SQ.FTS.B,
Zero
Cpn,
11/22/23
..
1,075
1,003
5325618.SQ.FTS.B,
Zero
Cpn,
11/22/23
..
15,285
14,446
5325773.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
486
462
5325780.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
10,137
9,602
5325953.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
33,977
32,280
5326703.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
862
813
5326788.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
1,014
894
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
79
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5326822.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
$
4,484
$
4,289
5327087.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
3,031
2,826
5327181.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
2,067
1,978
5327231.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
22,211
20,832
5327464.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
1,744
1,680
5327499.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
1,415
1,354
5327529.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
1,576
1,462
5327547.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
9,780
7,675
5327623.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
16,913
16,097
5328495.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
14,105
13,517
5328664.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
8,103
7,731
5328783.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
37,656
35,896
5329091.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
19,363
18,528
5329289.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
702
651
5329293.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
3,813
3,570
5329318.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
2,960
2,846
5329337.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
13,124
12,378
5329438.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
25,752
24,503
5329649.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
2,680
1,898
5329673.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
2,160
1,970
5329683.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
3,472
3,309
5329709.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
920
858
5329738.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
25,753
24,734
5329972.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
4,557
4,359
5330015.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
27,691
26,498
5330169.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
1,480
1,398
5330184.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
4,902
3,352
5330220.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
11,373
10,563
5330283.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
1,407
1,318
5330304.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
7,248
6,943
5330408.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
5,222
4,995
5330463.SQ.FTS.B,
Zero
Cpn,
11/23/23
..
14,956
14,227
5330604.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
92
90
5330611.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
5,983
4,249
5330644.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
7,845
7,538
5330689.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
7,076
6,660
5330757.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
1,661
1,282
5330777.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
6,012
5,751
5330878.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
13,027
10,613
5330913.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
1,729
1,607
5330917.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
1,023
985
5330930.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
7,283
5,719
5330978.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
2,249
2,130
5331004.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
13,485
12,717
5331102.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
552
534
5331103.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
3,657
3,450
5331155.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
10,602
9,901
5331271.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
10,196
9,545
5331422.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
4,095
3,937
5331561.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
1,360
1,255
5331601.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
6,036
5,781
5331889.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
1,756
1,299
5331941.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
1,460
1,408
5331997.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
1,172
1,042
5332017.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
3,708
3,476
5332078.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
13,178
12,607
5332314.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
3,735
3,573
5332359.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
965
927
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5332382.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
$
1,460
$
1,127
5332389.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
8,258
7,901
5332493.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
823
798
5332533.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
6,421
6,141
5333348.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
2,888
2,724
5333382.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
6,720
6,450
5333461.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
3,363
3,148
5333506.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
1,260
1,193
5333523.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
1,015
957
5333524.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
1,034
949
5333531.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
13,412
12,828
5333647.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
6,041
5,539
5333720.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
815
778
5333753.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
2,623
2,510
5333772.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
1,028
930
5333773.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
5,217
4,883
5333799.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
1,560
1,474
5333816.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
759
732
5333838.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
4,794
4,500
5333939.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
284
272
5333956.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
7,222
6,307
5334010.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
750
612
5334017.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
4,805
4,505
5334059.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
22,791
21,173
5334456.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
29,052
25,370
5334638.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
47,353
42,884
5334919.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
1,014
958
5334920.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
7,494
7,017
5334961.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
1,108
1,048
5334981.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
1,997
1,755
5334996.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
1,215
1,149
5335009.SQ.FTS.B,
Zero
Cpn,
11/24/23
..
50,633
48,432
5335277.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
5,183
4,930
5335310.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
5,070
3,758
5335336.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
48,132
44,414
5335931.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
7,823
7,484
5336033.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
2,126
1,976
5336065.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
6,206
5,937
5336258.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
11,273
10,547
5336564.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
3,003
2,833
5336708.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
3,222
2,993
5336806.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
3,116
2,974
5336884.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
5,976
5,577
5336943.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
763
623
5336948.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
698
671
5336966.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
8,783
8,401
5337127.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
8,790
8,392
5337236.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
3,019
2,871
5337289.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
2,625
2,511
5337318.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
2,608
2,443
5337401.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
3,724
3,562
5337451.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
7,015
6,698
5337496.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
2,580
2,437
5337533.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
2,953
2,604
5337861.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
275
265
5337863.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
13,795
12,776
5337952.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
2,879
2,757
5337994.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
1,719
1,652
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
80
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5338029.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
$
3,440
$
3,272
5338077.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
16,437
15,341
5338165.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
6,891
6,552
5338208.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
4,541
4,342
5338241.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
5,486
5,238
5338252.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
34,691
32,133
5338472.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
703
679
5338473.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
2,332
2,168
5338490.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
2,991
2,314
5338511.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
4,426
4,174
5338625.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
2,812
2,678
5338656.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
1,082
1,024
5338674.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
8,490
7,389
5338841.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
3,922
3,733
5338885.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
3,522
3,295
5339012.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
3,661
3,501
5339104.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
3,016
2,885
5339131.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
3,701
3,472
5339178.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
11,319
10,831
5339300.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
11,345
10,552
5339374.SQ.FTS.B,
Zero
Cpn,
11/25/23
..
58,596
55,625
5355674.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
1,511
1,429
5356271.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
9,692
9,263
5357041.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
2,639
2,523
5357102.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
6,212
5,856
5357186.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
3,676
3,480
5357298.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
1,879
1,761
5357344.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
648
593
5357345.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
689
451
5357373.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
5,428
5,189
5357594.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
5,582
5,226
5357761.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
1,230
1,178
5357879.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
8,195
7,887
5358572.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
5,300
5,067
5359785.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
6,018
5,654
5360265.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
10,489
9,706
5360645.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
453
432
5360661.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
15,783
14,517
5361152.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
811
779
5361225.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
7,886
7,483
5361605.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
2,676
2,525
5361644.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
3,921
3,702
5361743.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
313
303
5361773.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
5,116
4,862
5361884.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
1,545
1,459
5361978.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
2,241
2,163
5362078.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
2,715
2,473
5362125.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
8,135
7,740
5362309.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
702
673
5362361.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
2,553
2,373
5362410.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
614
594
5362471.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
6,937
6,631
5362668.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
66,637
61,646
5363906.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
10,785
10,252
5364010.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
6,352
5,486
5364095.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
3,141
2,241
5364146.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
9,281
8,750
5364330.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
2,135
2,005
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5364363.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
$
5,511
$
5,127
5364437.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
43,639
40,353
5364900.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
1,778
1,569
5364920.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
24,500
23,298
5365267.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
10,222
7,592
5365379.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
2,587
2,337
5365439.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
40,908
38,601
5366532.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
1,365
974
5366565.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
11,113
10,585
5366709.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
18,106
17,227
5367015.SQ.FTS.B,
Zero
Cpn,
11/26/23
..
1,314
1,256
5367410.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
3,362
3,207
5367576.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
25,961
24,678
5368254.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
5,625
5,347
5368593.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
6,217
5,934
5368811.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
4,785
4,579
5369148.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
1,658
1,464
5369318.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
689
601
5369700.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
3,678
3,478
5370230.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
2,695
2,224
5370632.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
9,098
8,679
5372799.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
1,600
1,504
5373003.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
10,267
9,798
5373623.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
4,140
3,957
5373934.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
4,146
3,977
5374193.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
5,067
4,826
5374353.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
14,820
14,163
5374944.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
8,614
8,147
5375353.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
2,741
2,621
5375583.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
1,230
1,167
5375623.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
5,480
5,069
5375862.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
622
602
5375905.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
14,607
13,569
5376280.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
4,458
4,261
5376412.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
1,508
1,441
5376451.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
8,610
6,799
5376636.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
28,904
27,280
5376967.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
11,215
10,663
5377413.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
1,718
1,454
5377599.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
584
565
5377620.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
30,823
28,517
5378432.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
19
19
5378441.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
1,399
1,138
5378462.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
1,786
1,717
5378585.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
745
700
5378599.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
5,587
5,114
5378673.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
7,993
7,553
5379120.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
23,404
22,087
5379567.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
26,947
25,611
5380126.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
6,451
5,965
5380280.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
4,101
2,848
5380315.SQ.FTS.B,
Zero
Cpn,
11/27/23
..
38,809
37,107
5380959.SQ.FTS.B,
Zero
Cpn,
11/28/23
..
878
831
5380978.SQ.FTS.B,
Zero
Cpn,
11/28/23
..
50,482
45,788
5381640.SQ.FTS.B,
Zero
Cpn,
11/28/23
..
5,797
5,479
5381712.SQ.FTS.B,
Zero
Cpn,
11/29/23
..
1,026
958
5381744.SQ.FTS.B,
Zero
Cpn,
11/29/23
..
4,781
4,516
5381837.SQ.FTS.B,
Zero
Cpn,
11/29/23
..
7,878
7,206
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
81
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5381968.SQ.FTS.B,
Zero
Cpn,
11/29/23
..
$
5,915
$
5,495
5382050.SQ.FTS.B,
Zero
Cpn,
11/29/23
..
2,974
2,842
5382091.SQ.FTS.B,
Zero
Cpn,
11/29/23
..
433
401
5382098.SQ.FTS.B,
Zero
Cpn,
11/29/23
..
4,755
4,539
5382154.SQ.FTS.B,
Zero
Cpn,
11/29/23
..
2,279
2,095
5382181.SQ.FTS.B,
Zero
Cpn,
11/29/23
..
1,864
1,781
5382222.SQ.FTS.B,
Zero
Cpn,
11/29/23
..
4,147
3,962
5382264.SQ.FTS.B,
Zero
Cpn,
11/29/23
..
15,062
14,222
5382420.SQ.FTS.B,
Zero
Cpn,
11/29/23
..
6,887
6,009
5382508.SQ.FTS.B,
Zero
Cpn,
11/29/23
..
18,170
17,364
5382744.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
6,278
5,924
5382824.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
3,364
3,173
5382951.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
3,218
2,968
5382984.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
2,719
2,599
5383028.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
800
659
5383047.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
5,842
5,522
5383113.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
3,608
3,401
5383164.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
3,448
3,206
5383205.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
1,882
1,720
5383231.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
1,325
1,230
5383245.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
2,231
2,134
5383274.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
311
301
5383307.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
1,521
1,401
5383325.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
1,409
1,356
5383342.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
4,205
3,964
5383392.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
3,704
3,550
5383447.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
2,900
2,652
5383499.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
8,982
8,576
5383666.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
3,220
3,094
5384035.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
15,932
15,011
5389090.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
4,737
4,517
5390465.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
6,749
6,134
5391068.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
2,040
1,923
5391193.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
8,226
7,862
5391950.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
715
675
5392090.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
5,859
5,601
5392685.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
7,516
7,161
5393384.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
3,600
3,332
5393715.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
845
801
5393796.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
1,110
1,000
5393901.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
5,473
5,233
5394228.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
2,394
1,804
5394331.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
1,892
1,786
5394430.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
22,703
21,812
5395868.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
12,619
12,067
5396670.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
3,179
3,039
5396879.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
2,443
2,331
5396951.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
11,937
10,991
5397535.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
6,091
5,822
5397746.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
33,947
31,973
5399156.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
10,256
9,772
5399550.SQ.FTS.B,
Zero
Cpn,
11/30/23
..
12,196
10,355
5400184.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
18,252
16,272
5400676.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
17,723
16,934
5402147.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
2,222
2,141
5402576.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
13,645
12,961
5404724.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
5,864
5,564
5407224.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
5,235
4,902
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5407468.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
$
5,790
$
5,534
5407893.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
2,330
2,119
5408127.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
3,396
3,202
5408404.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
3,021
2,888
5408536.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
657
465
5408561.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
4,175
4,012
5408726.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
2,359
2,229
5408888.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
4,870
4,536
5409094.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
9,711
9,202
5409724.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
4,369
4,177
5409849.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
1,996
1,903
5409886.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
2,313
2,185
5409973.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
2,285
2,183
5410038.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
595
574
5410081.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
4,144
3,823
5410244.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
3,701
3,536
5410431.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
2,023
1,932
5410564.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
13,430
12,668
5411002.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
1,462
1,336
5411071.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
2,710
2,590
5411147.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
1,440
1,376
5411165.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
1,554
1,356
5411199.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
918
884
5411224.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
6,763
4,702
5411314.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
3,496
3,253
5411353.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
2,625
2,322
5411388.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
1,138
1,025
5411444.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
12,668
11,488
5412085.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
5,429
4,997
5412260.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
5,456
5,184
5412414.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
539
518
5412456.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
1,207
1,138
5412541.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
2,050
1,859
5412550.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
2,233
2,104
5412561.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
692
655
5412563.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
21,661
19,313
5412734.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
8,127
6,920
5412972.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
4,025
3,735
5413159.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
12,976
12,121
5413423.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
6,295
5,751
5413569.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
2,027
1,837
5413605.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
2,773
2,641
5413626.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
1,499
1,439
5413697.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
38,745
34,053
5414157.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
15,453
14,316
5414409.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
2,935
2,131
5414490.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
2,897
2,256
5414585.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
2,868
2,737
5414631.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
28,426
27,100
5415130.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
2,418
2,283
5415187.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
12,634
11,940
5415410.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
21,806
20,757
5415751.SQ.FTS.B,
Zero
Cpn,
12/01/23
..
3,240
2,988
5439891.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
793
748
5439954.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
2,171
1,856
5439984.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
7,838
7,524
5440221.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
14,097
13,557
5440954.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
12,181
11,480
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
82
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5441396.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
$
15,067
$
13,894
5442564.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
1,720
1,646
5442887.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
26,381
25,199
5446776.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
7,429
7,055
5447166.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
190
183
5447168.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
20,461
19,417
5447961.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
5,477
5,198
5448095.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
1,159
1,108
5448149.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
3,619
3,448
5448217.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
916
859
5448268.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
16,704
15,595
5448620.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
1,571
1,460
5448678.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
11,321
10,802
5449069.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
36,901
34,199
5450371.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
4,013
3,655
5450480.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
34,647
27,352
5451421.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
657
562
5451458.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
4,464
4,024
5451589.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
24,313
22,117
5452329.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
558
520
5452385.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
6,298
5,941
5452530.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
68,037
61,860
5454347.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
4,447
4,141
5454398.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
1,552
1,470
5454474.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
38,665
36,737
5455288.SQ.FTS.B,
Zero
Cpn,
12/02/23
..
2,663
2,547
5455439.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
5,692
5,325
5455551.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
2,300
2,200
5455610.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
1,040
970
5455648.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
5,275
4,974
5455876.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
9,271
8,772
5456049.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
4,731
4,397
5456242.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
2,770
2,413
5456259.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
5,081
4,664
5456346.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
7,036
6,731
5456428.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
40,903
37,840
5458369.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
1,115
1,081
5458625.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
5,654
5,429
5460316.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
4,228
3,771
5461477.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
8,522
8,112
5462585.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
2,274
2,145
5462762.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
3,004
2,869
5462877.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
1,858
1,616
5463036.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
1,581
1,510
5463107.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
2,441
2,327
5463271.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
718
677
5463353.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
37,181
34,462
5465003.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
1,250
1,202
5465037.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
1,994
1,646
5465094.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
25,638
23,246
5465918.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
8,083
7,707
5466357.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
9,190
8,683
5466656.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
10,190
9,628
5466891.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
9,549
9,072
5467290.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
1,381
1,319
5467355.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
8,434
7,522
5467609.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
1,056
990
5467661.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
6,578
6,138
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5467937.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
$
21,207
$
19,564
5468975.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
897
859
5469005.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
1,078
1,046
5469061.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
6,016
5,145
5469257.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
5,958
5,691
5469522.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
1,294
1,192
5469560.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
2,399
2,283
5469802.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
5,200
4,855
5469998.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
39,104
37,403
5471418.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
4,748
4,364
5471480.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
2,646
2,521
5471607.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
292
283
5471641.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
2,232
1,742
5471645.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
7,075
6,722
5471856.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
1,834
1,751
5471928.SQ.FTS.B,
Zero
Cpn,
12/03/23
..
26,529
25,203
5472696.SQ.FTS.B,
Zero
Cpn,
12/04/23
..
1,346
1,246
5472706.SQ.FTS.B,
Zero
Cpn,
12/04/23
..
253
239
5472707.SQ.FTS.B,
Zero
Cpn,
12/04/23
..
1,687
1,572
5472713.SQ.FTS.B,
Zero
Cpn,
12/04/23
..
2,850
2,722
5472733.SQ.FTS.B,
Zero
Cpn,
12/04/23
..
11,242
10,736
5472760.SQ.FTS.B,
Zero
Cpn,
12/04/23
..
8,618
8,046
5472786.SQ.FTS.B,
Zero
Cpn,
12/04/23
..
5,893
5,398
5472808.SQ.FTS.B,
Zero
Cpn,
12/04/23
..
1,289
1,174
5472809.SQ.FTS.B,
Zero
Cpn,
12/04/23
..
4,149
3,470
5472816.SQ.FTS.B,
Zero
Cpn,
12/04/23
..
2,995
2,875
5472855.SQ.FTS.B,
Zero
Cpn,
12/04/23
..
1,254
1,189
5472857.SQ.FTS.B,
Zero
Cpn,
12/04/23
..
1,243
1,187
5472869.SQ.FTS.B,
Zero
Cpn,
12/04/23
..
6,592
6,287
5472898.SQ.FTS.B,
Zero
Cpn,
12/04/23
..
2,362
2,178
5472902.SQ.FTS.B,
Zero
Cpn,
12/04/23
..
2,093
2,001
5472907.SQ.FTS.B,
Zero
Cpn,
12/04/23
..
21,964
20,909
5473041.SQ.FTS.B,
Zero
Cpn,
12/04/23
..
4,975
4,622
5473064.SQ.FTS.B,
Zero
Cpn,
12/04/23
..
1,963
1,881
5473082.SQ.FTS.B,
Zero
Cpn,
12/04/23
..
841
749
5473088.SQ.FTS.B,
Zero
Cpn,
12/04/23
..
4,077
3,894
5473117.SQ.FTS.B,
Zero
Cpn,
12/04/23
..
16,868
15,922
5473239.SQ.FTS.B,
Zero
Cpn,
12/04/23
..
12,027
11,453
5473314.SQ.FTS.B,
Zero
Cpn,
12/04/23
..
4,892
4,574
5473353.SQ.FTS.B,
Zero
Cpn,
12/04/23
..
1,567
1,462
5473365.SQ.FTS.B,
Zero
Cpn,
12/04/23
..
4,036
3,804
5473379.SQ.FTS.B,
Zero
Cpn,
12/04/23
..
11,108
10,606
5473458.SQ.FTS.B,
Zero
Cpn,
12/04/23
..
24,261
22,880
5473595.SQ.FTS.B,
Zero
Cpn,
12/04/23
..
2,063
1,928
5473619.SQ.FTS.B,
Zero
Cpn,
12/04/23
..
11,769
11,094
5473715.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
4,977
4,650
5473739.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
916
873
5473741.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
7,602
7,173
5473806.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
8,794
8,364
5473867.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
5,408
5,050
5473897.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
1,872
1,737
5473906.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
4,934
4,705
5473942.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
1,384
1,302
5473947.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
299
280
5473950.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
3,716
3,514
5473978.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
758
726
5473985.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
9,254
8,838
5474042.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
2,300
2,192
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
83
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5474050.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
$
7,545
$
7,207
5474101.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
2,710
2,606
5474117.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
1,575
1,405
5474125.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
492
470
5474127.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
7,083
6,609
5474176.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
1,392
1,241
5474185.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
5,263
5,029
5474229.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
6,068
5,672
5474254.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
3,319
3,169
5474276.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
1,532
1,458
5474291.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
2,875
2,604
5474320.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
1,150
1,081
5474326.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
2,025
1,940
5474340.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
18,520
17,691
5474463.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
1,934
1,836
5474502.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
7,561
6,889
5474546.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
1,367
1,314
5474555.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
5,926
5,659
5474592.SQ.FTS.B,
Zero
Cpn,
12/05/23
..
14,283
13,339
5474833.SQ.FTS.B,
Zero
Cpn,
12/06/23
..
588
562
5474835.SQ.FTS.B,
Zero
Cpn,
12/06/23
..
3,922
3,246
5474994.SQ.FTS.B,
Zero
Cpn,
12/06/23
..
6,205
5,925
5475686.SQ.FTS.B,
Zero
Cpn,
12/06/23
..
2,736
2,349
5475871.SQ.FTS.B,
Zero
Cpn,
12/06/23
..
1,396
1,199
5476031.SQ.FTS.B,
Zero
Cpn,
12/06/23
..
2,184
2,069
5476100.SQ.FTS.B,
Zero
Cpn,
12/06/23
..
13,879
13,210
5477799.SQ.FTS.B,
Zero
Cpn,
12/06/23
..
1,095
911
5478006.SQ.FTS.B,
Zero
Cpn,
12/06/23
..
1,395
1,291
5478291.SQ.FTS.B,
Zero
Cpn,
12/06/23
..
2,332
2,141
5478936.SQ.FTS.B,
Zero
Cpn,
12/06/23
..
3,458
3,232
5479438.SQ.FTS.B,
Zero
Cpn,
12/06/23
..
1,934
1,539
5480752.SQ.FTS.B,
Zero
Cpn,
12/06/23
..
3,573
3,136
5481396.SQ.FTS.B,
Zero
Cpn,
12/06/23
..
4,865
4,338
5482596.SQ.FTS.B,
Zero
Cpn,
12/06/23
..
2,292
2,191
5493002.SQ.FTS.B,
Zero
Cpn,
12/06/23
..
1,130
854
5493029.SQ.FTS.B,
Zero
Cpn,
12/06/23
..
1,637
1,459
5493059.SQ.FTS.B,
Zero
Cpn,
12/06/23
..
460
443
5493069.SQ.FTS.B,
Zero
Cpn,
12/06/23
..
4,633
4,424
5493224.SQ.FTS.B,
Zero
Cpn,
12/06/23
..
1,651
1,537
5493383.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
6,171
5,894
5493618.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
21,875
20,889
5494106.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
43,336
41,388
5495471.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
762
709
5495504.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
2,572
2,449
5495757.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
579
540
5495953.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
10,653
10,172
5498518.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
11,874
11,291
5499511.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
67,791
64,745
5501687.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
6,886
6,576
5501895.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
4,283
4,084
5501998.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
116
112
5502005.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
2,097
2,013
5502047.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
553
519
5502107.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
1,361
1,293
5502153.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
3,664
3,458
5502327.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
784
731
5502357.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
4,277
4,022
5502478.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
5,250
4,781
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5502567.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
$
15,069
$
14,243
5502841.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
671
646
5502857.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
6,741
6,011
5502898.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
7,157
6,662
5503053.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
2,693
2,318
5503133.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
1,975
1,897
5503173.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
1,096
945
5503207.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
9,590
8,916
5503358.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
7,020
6,701
5503514.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
895
856
5503527.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
45,559
43,514
5504805.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
4,142
3,869
5504886.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
1,152
987
5504915.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
1,919
1,821
5504980.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
2,106
1,919
5505047.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
45,068
42,796
5505930.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
1,762
1,377
5505932.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
6,904
6,327
5506042.SQ.FTS.B,
Zero
Cpn,
12/07/23
..
13,130
12,273
5506550.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
1,590
1,475
5506706.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
3,902
3,552
5506828.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
8,262
7,082
5507000.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
41,816
35,895
5508430.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
196
183
5508454.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
9,213
8,803
5509426.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
5,374
5,072
5510015.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
1,497
1,428
5510254.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
5,909
5,391
5512025.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
4,933
4,717
5513074.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
423
408
5513213.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
6,708
6,401
5514065.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
2,283
2,182
5514160.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
5,487
5,240
5514832.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
7,437
7,078
5515187.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
6,328
6,041
5515549.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
2,266
1,596
5515659.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
1,442
1,357
5515732.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
14,966
14,116
5516154.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
12,489
10,160
5516587.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
12,173
11,582
5516926.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
13,352
12,794
5517278.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
24,817
23,238
5517750.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
13,147
12,553
5517919.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
2,062
1,910
5517958.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
2,392
2,223
5518009.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
3,512
3,319
5518064.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
21,142
20,258
5518310.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
842
721
5518349.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
6,023
4,416
5518407.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
4,833
4,654
5518463.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
5,323
4,978
5518520.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
2,744
2,609
5518576.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
3,771
3,634
5518672.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
4,781
4,566
5518743.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
6,290
5,993
5518858.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
13,133
12,484
5519081.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
3,109
2,960
5519107.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
14,261
13,443
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
84
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5519276.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
$
1,899
$
1,790
5519293.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
8,875
8,230
5519364.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
2,966
2,644
5519410.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
12,874
12,097
5519628.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
5,357
4,961
5519698.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
509
492
5519715.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
41,224
38,963
5520052.SQ.FTS.B,
Zero
Cpn,
12/08/23
..
18,637
17,734
5528077.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
9,553
8,996
5528190.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
2,688
2,557
5528228.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
64,641
60,148
5530073.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
2,330
2,217
5530168.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
8,620
8,229
5530399.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
29,366
23,939
5530819.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
8,259
7,848
5530980.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
5,612
5,356
5531095.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
1,314
1,228
5531119.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
6,775
6,390
5531224.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
1,904
1,750
5531244.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
4,476
4,271
5531352.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
15,921
15,197
5531589.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
2,416
2,178
5531608.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
5,403
5,174
5531630.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
1,103
1,040
5531646.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
4,333
4,138
5531823.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
625
520
5531840.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
7,796
7,413
5531950.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
12,823
12,124
5532135.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
17,172
16,350
5532460.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
14,215
13,600
5532612.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
4,782
4,489
5532672.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
1,111
1,030
5532698.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
962
733
5532709.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
19,389
18,125
5532984.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
13,219
12,621
5533174.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
4,942
4,703
5533217.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
1,746
1,667
5533245.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
39,796
37,528
5533548.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
7,169
6,705
5533627.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
1,291
1,239
5533673.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
5,872
5,606
5533789.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
17,919
16,851
5533995.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
8,677
8,201
5534061.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
8,362
7,980
5534121.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
7,202
6,802
5534166.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
3,625
3,343
5534230.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
1,841
1,703
5534261.SQ.FTS.B,
Zero
Cpn,
12/09/23
..
17,467
15,572
5534377.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
2,575
2,470
5534560.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
1,402
1,310
5534576.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
7,687
7,015
5534609.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
527
499
5534626.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
5,260
4,958
5534666.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
770
597
5534674.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
2,506
2,398
5534689.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
45,224
42,634
5535013.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
13,676
12,219
5535176.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
2,251
2,009
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5535205.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
$
5,478
$
5,118
5535304.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
1,604
1,544
5535375.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
6,701
6,384
5535489.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
860
777
5535539.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
1,958
1,867
5535547.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
4,688
3,830
5535747.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
6,649
6,366
5536008.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
8,044
7,603
5536117.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
24,992
21,041
5536724.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
5,657
5,399
5536803.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
3,289
3,139
5536859.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
4,433
4,109
5536919.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
1,481
1,358
5536936.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
3,529
3,343
5536969.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
1,053
928
5536987.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
2,009
1,716
5537040.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
31,451
30,010
5537462.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
7,032
6,710
5537561.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
189
183
5537570.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
3,347
3,194
5537633.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
8,283
7,904
5537728.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
4,562
3,898
5537761.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
2,342
2,064
5537817.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
845
613
5537821.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
3,942
3,735
5537878.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
5,310
4,919
5537953.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
4,139
3,872
5537986.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
40,782
38,801
5538579.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
5,503
5,205
5538622.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
28,251
24,891
5538996.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
3,341
3,205
5539063.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
2,016
1,830
5539093.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
13,305
12,705
5539295.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
6,873
6,497
5539381.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
1,109
1,047
5539387.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
9,639
8,854
5539578.SQ.FTS.B,
Zero
Cpn,
12/10/23
..
19,287
18,188
5539693.SQ.FTS.B,
Zero
Cpn,
12/11/23
..
1,736
1,314
5539715.SQ.FTS.B,
Zero
Cpn,
12/11/23
..
2,008
1,828
5539726.SQ.FTS.B,
Zero
Cpn,
12/11/23
..
6,281
5,736
5539774.SQ.FTS.B,
Zero
Cpn,
12/11/23
..
11,340
10,132
5539822.SQ.FTS.B,
Zero
Cpn,
12/11/23
..
7,315
6,422
5539860.SQ.FTS.B,
Zero
Cpn,
12/11/23
..
2,243
1,875
5539873.SQ.FTS.B,
Zero
Cpn,
12/11/23
..
4,538
4,269
5539901.SQ.FTS.B,
Zero
Cpn,
12/11/23
..
2,445
2,310
5539915.SQ.FTS.B,
Zero
Cpn,
12/11/23
..
2,395
2,282
5539948.SQ.FTS.B,
Zero
Cpn,
12/11/23
..
2,621
2,422
5539974.SQ.FTS.B,
Zero
Cpn,
12/11/23
..
1,599
1,516
5539990.SQ.FTS.B,
Zero
Cpn,
12/11/23
..
941
806
5539993.SQ.FTS.B,
Zero
Cpn,
12/11/23
..
9,143
8,723
5540068.SQ.FTS.B,
Zero
Cpn,
12/11/23
..
2,381
2,243
5540080.SQ.FTS.B,
Zero
Cpn,
12/11/23
..
3,188
3,035
5540104.SQ.FTS.B,
Zero
Cpn,
12/11/23
..
4,517
4,302
5540149.SQ.FTS.B,
Zero
Cpn,
12/11/23
..
1,359
1,271
5540163.SQ.FTS.B,
Zero
Cpn,
12/11/23
..
15,332
14,598
5540288.SQ.FTS.B,
Zero
Cpn,
12/11/23
..
636
531
5540292.SQ.FTS.B,
Zero
Cpn,
12/11/23
..
3,447
3,156
5540330.SQ.FTS.B,
Zero
Cpn,
12/11/23
..
699
666
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
85
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5540341.SQ.FTS.B,
Zero
Cpn,
12/11/23
..
$
6,827
$
6,083
5540389.SQ.FTS.B,
Zero
Cpn,
12/11/23
..
6,661
6,353
5540447.SQ.FTS.B,
Zero
Cpn,
12/11/23
..
12,681
11,831
5540558.SQ.FTS.B,
Zero
Cpn,
12/12/23
..
617
589
5540564.SQ.FTS.B,
Zero
Cpn,
12/12/23
..
39,825
36,389
5540903.SQ.FTS.B,
Zero
Cpn,
12/12/23
..
9,639
9,206
5540988.SQ.FTS.B,
Zero
Cpn,
12/12/23
..
4,395
4,194
5541027.SQ.FTS.B,
Zero
Cpn,
12/12/23
..
828
801
5541044.SQ.FTS.B,
Zero
Cpn,
12/12/23
..
4,862
4,600
5541083.SQ.FTS.B,
Zero
Cpn,
12/12/23
..
1,026
741
5541089.SQ.FTS.B,
Zero
Cpn,
12/12/23
..
599
570
5541094.SQ.FTS.B,
Zero
Cpn,
12/12/23
..
5,895
5,663
5541195.SQ.FTS.B,
Zero
Cpn,
12/12/23
..
2,502
1,956
5541224.SQ.FTS.B,
Zero
Cpn,
12/12/23
..
1,139
1,096
5541236.SQ.FTS.B,
Zero
Cpn,
12/12/23
..
4,271
4,052
5541279.SQ.FTS.B,
Zero
Cpn,
12/12/23
..
498
483
5541288.SQ.FTS.B,
Zero
Cpn,
12/12/23
..
4,899
4,578
5541326.SQ.FTS.B,
Zero
Cpn,
12/12/23
..
12,345
11,671
5541504.SQ.FTS.B,
Zero
Cpn,
12/13/23
..
904
844
5541513.SQ.FTS.B,
Zero
Cpn,
12/13/23
..
1,304
1,259
5541577.SQ.FTS.B,
Zero
Cpn,
12/13/23
..
20,377
19,447
5542444.SQ.FTS.B,
Zero
Cpn,
12/13/23
..
3,610
3,397
5542667.SQ.FTS.B,
Zero
Cpn,
12/13/23
..
15,546
13,864
5543625.SQ.FTS.B,
Zero
Cpn,
12/13/23
..
17,557
16,677
5545031.SQ.FTS.B,
Zero
Cpn,
12/13/23
..
8,328
7,946
5545221.SQ.FTS.B,
Zero
Cpn,
12/13/23
..
6,076
5,676
5545381.SQ.FTS.B,
Zero
Cpn,
12/13/23
..
1,085
1,027
5545401.SQ.FTS.B,
Zero
Cpn,
12/13/23
..
2,266
2,179
5545451.SQ.FTS.B,
Zero
Cpn,
12/13/23
..
16,819
16,047
5545859.SQ.FTS.B,
Zero
Cpn,
12/13/23
..
6,455
6,158
5545996.SQ.FTS.B,
Zero
Cpn,
12/13/23
..
3,097
2,931
5546069.SQ.FTS.B,
Zero
Cpn,
12/13/23
..
2,399
2,262
5546132.SQ.FTS.B,
Zero
Cpn,
12/13/23
..
10,078
9,537
5546305.SQ.FTS.B,
Zero
Cpn,
12/13/23
..
7,311
6,897
5546515.SQ.FTS.B,
Zero
Cpn,
12/13/23
..
6,125
5,726
5546631.SQ.FTS.B,
Zero
Cpn,
12/13/23
..
15,875
14,712
5546919.SQ.FTS.B,
Zero
Cpn,
12/13/23
..
1,544
1,480
5546962.SQ.FTS.B,
Zero
Cpn,
12/13/23
..
1,662
1,439
5547015.SQ.FTS.B,
Zero
Cpn,
12/13/23
..
18,842
17,123
5547240.SQ.FTS.B,
Zero
Cpn,
12/13/23
..
4,937
4,582
5547325.SQ.FTS.B,
Zero
Cpn,
12/13/23
..
11,011
10,190
5547513.SQ.FTS.B,
Zero
Cpn,
12/13/23
..
9,279
8,668
5547656.SQ.FTS.B,
Zero
Cpn,
12/13/23
..
3,825
3,651
5547699.SQ.FTS.B,
Zero
Cpn,
12/13/23
..
13,672
13,045
5547946.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
1,490
1,348
5547986.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
10,447
9,897
5548048.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
4,644
4,412
5548111.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
3,294
3,159
5548166.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
4,448
4,150
5548232.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
64,079
46,298
5549391.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
5,294
4,945
5549700.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
4,596
4,371
5550084.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
5,139
4,696
5550285.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
4,411
4,209
5550447.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
2,949
2,782
5550509.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
17,017
16,237
5550900.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
3,832
3,653
5550979.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
2,096
1,939
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5551038.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
$
1,976
$
1,876
5551089.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
456
438
5551098.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
6,462
6,116
5551200.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
6,385
6,094
5551322.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
3,379
3,131
5551689.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
604
570
5551702.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
5,024
4,793
5551790.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
18,832
17,709
5552064.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
19,209
17,678
5552329.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
1,450
1,382
5552344.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
1,767
1,525
5552367.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
20,904
19,730
5552542.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
1,465
1,254
5552569.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
8,758
7,947
5552685.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
10,154
9,694
5552819.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
683
651
5552826.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
1,869
1,664
5552832.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
2,959
2,774
5552882.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
6,403
5,698
5552961.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
517
422
5552968.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
17,317
16,449
5553205.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
32,817
31,052
5553591.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
1,765
1,678
5553609.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
9,314
8,910
5553699.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
3,568
3,388
5553744.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
30,902
26,656
5554068.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
4,585
4,311
5554123.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
6,032
5,589
5554199.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
2,014
1,880
5554217.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
2,926
2,778
5554234.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
11,902
11,132
5554352.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
11,783
10,998
5554477.SQ.FTS.B,
Zero
Cpn,
12/14/23
..
7,591
7,258
5554641.SQ.FTS.B,
Zero
Cpn,
12/15/23
..
75,315
71,678
5556129.SQ.FTS.B,
Zero
Cpn,
12/15/23
..
2,433
2,165
5556228.SQ.FTS.B,
Zero
Cpn,
12/15/23
..
14,484
13,851
5556515.SQ.FTS.B,
Zero
Cpn,
12/15/23
..
5,974
5,637
5556604.SQ.FTS.B,
Zero
Cpn,
12/15/23
..
1,033
970
5556639.SQ.FTS.B,
Zero
Cpn,
12/15/23
..
3,625
3,456
5556696.SQ.FTS.B,
Zero
Cpn,
12/15/23
..
15,909
14,754
5556944.SQ.FTS.B,
Zero
Cpn,
12/15/23
..
1,217
1,167
5556985.SQ.FTS.B,
Zero
Cpn,
12/15/23
..
8,782
8,317
5557128.SQ.FTS.B,
Zero
Cpn,
12/15/23
..
1,555
1,490
5557153.SQ.FTS.B,
Zero
Cpn,
12/15/23
..
13,027
12,049
5557279.SQ.FTS.B,
Zero
Cpn,
12/15/23
..
4,541
3,846
5557325.SQ.FTS.B,
Zero
Cpn,
12/15/23
..
5,066
4,693
5557410.SQ.FTS.B,
Zero
Cpn,
12/15/23
..
3,025
2,615
5557436.SQ.FTS.B,
Zero
Cpn,
12/15/23
..
8,576
8,180
5557503.SQ.FTS.B,
Zero
Cpn,
12/15/23
..
5,802
5,435
5557536.SQ.FTS.B,
Zero
Cpn,
12/15/23
..
1,732
1,666
5557568.SQ.FTS.B,
Zero
Cpn,
12/15/23
..
7,285
6,860
5557604.SQ.FTS.B,
Zero
Cpn,
12/15/23
..
6,312
6,028
5557646.SQ.FTS.B,
Zero
Cpn,
12/15/23
..
9,495
9,013
5557703.SQ.FTS.B,
Zero
Cpn,
12/15/23
..
9,138
8,466
5557756.SQ.FTS.B,
Zero
Cpn,
12/15/23
..
26,818
25,435
5557927.SQ.FTS.B,
Zero
Cpn,
12/15/23
..
50,477
48,156
5558399.SQ.FTS.B,
Zero
Cpn,
12/15/23
..
1,216
1,175
5558453.SQ.FTS.B,
Zero
Cpn,
12/15/23
..
1,735
1,610
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
86
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5558486.SQ.FTS.B,
Zero
Cpn,
12/15/23
..
$
10,752
$
9,728
5558612.SQ.FTS.B,
Zero
Cpn,
12/15/23
..
77,445
73,784
5559276.SQ.FTS.B,
Zero
Cpn,
12/15/23
..
5,973
5,185
5559331.SQ.FTS.B,
Zero
Cpn,
12/15/23
..
1,503
1,402
5559345.SQ.FTS.B,
Zero
Cpn,
12/15/23
..
3,885
3,704
5561359.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
6,493
6,052
5561383.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
38,026
36,367
5561742.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
996
943
5561755.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
3,531
3,368
5561812.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
4,428
4,192
5561867.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
4,954
4,555
5561944.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
1,295
1,227
5561959.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
1,506
1,290
5561993.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
2,470
2,331
5562047.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
4,915
4,697
5562143.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
3,158
2,918
5562183.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
1,939
1,769
5562208.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
6,083
5,758
5562277.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
2,264
2,160
5562315.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
1,690
1,578
5562342.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
2,886
2,640
5562392.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
5,322
5,068
5562472.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
16,741
15,755
5562607.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
1,129
1,014
5562623.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
3,291
3,143
5562646.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
38,193
35,294
5562880.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
8,924
8,427
5562958.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
888
841
5562959.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
3,249
3,101
5562980.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
4,812
4,591
5563028.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
2,447
2,297
5563038.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
6,938
6,024
5563082.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
1,672
1,583
5563099.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
1,654
1,478
5563107.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
1,371
1,321
5563122.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
52,232
49,822
5563533.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
4,332
4,031
5563559.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
9,142
8,696
5563614.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
4,724
4,471
5563672.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
9,818
9,361
5563727.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
3,785
3,559
5563740.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
3,238
2,993
5563749.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
19,912
18,881
5563888.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
971
916
5563950.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
11,990
11,498
5564100.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
15,392
14,636
5564191.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
2,379
1,796
5564198.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
29,776
27,864
5564363.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
1,415
1,351
5564397.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
14,887
13,636
5564496.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
6,248
5,960
5564521.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
1,021
972
5564527.SQ.FTS.B,
Zero
Cpn,
12/16/23
..
5,508
5,251
5564557.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
2,046
1,912
5564578.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
3,267
3,100
5564602.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
3,126
2,297
5564628.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
17,710
16,846
5564683.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
15,530
14,700
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5564787.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
$
7,373
$
6,947
5564844.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
1,944
1,720
5564859.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
870
782
5564865.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
860
812
5564870.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
2,432
2,289
5564894.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
12,253
11,667
5564975.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
1,754
1,647
5564990.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
19,459
18,460
5565164.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
40,174
35,793
5565516.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
27,230
25,426
5565682.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
18,930
17,867
5565801.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
12,333
11,515
5565862.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
3,894
3,669
5565905.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
3,538
3,324
5565916.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
4,568
3,883
5565940.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
3,537
3,233
5565959.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
1,501
1,429
5565967.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
3,860
3,684
5565981.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
2,334
2,125
5565992.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
7,291
6,532
5566025.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
34,108
32,305
5566227.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
2,758
2,589
5566282.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
16,958
16,060
5566921.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
3,263
2,936
5566949.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
8,544
7,960
5567063.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
7,330
6,990
5567113.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
14,869
13,772
5567239.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
11,157
10,692
5567327.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
9,696
8,832
5567393.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
13,320
12,711
5567435.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
8,638
8,144
5567477.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
2,868
2,537
5567491.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
14,418
13,558
5567586.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
4,891
4,689
5567628.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
3,915
3,599
5567675.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
193
187
5567676.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
11,007
10,394
5567757.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
3,387
3,251
5567788.SQ.FTS.B,
Zero
Cpn,
12/17/23
..
40,846
38,181
5567951.SQ.FTS.B,
Zero
Cpn,
12/18/23
..
20,882
19,854
5568053.SQ.FTS.B,
Zero
Cpn,
12/18/23
..
3,762
3,586
5568064.SQ.FTS.B,
Zero
Cpn,
12/18/23
..
17,946
17,061
5568132.SQ.FTS.B,
Zero
Cpn,
12/18/23
..
14,976
14,107
5568222.SQ.FTS.B,
Zero
Cpn,
12/18/23
..
4,132
3,545
5568249.SQ.FTS.B,
Zero
Cpn,
12/18/23
..
8,634
8,232
5568291.SQ.FTS.B,
Zero
Cpn,
12/18/23
..
1,528
1,428
5568299.SQ.FTS.B,
Zero
Cpn,
12/18/23
..
1,363
1,290
5568314.SQ.FTS.B,
Zero
Cpn,
12/18/23
..
9,064
8,602
5568371.SQ.FTS.B,
Zero
Cpn,
12/18/23
..
2,114
1,998
5568393.SQ.FTS.B,
Zero
Cpn,
12/18/23
..
12,776
11,894
5568471.SQ.FTS.B,
Zero
Cpn,
12/18/23
..
1,916
1,775
5568479.SQ.FTS.B,
Zero
Cpn,
12/18/23
..
1,868
1,778
5568494.SQ.FTS.B,
Zero
Cpn,
12/18/23
..
1,356
1,291
5568506.SQ.FTS.B,
Zero
Cpn,
12/18/23
..
3,375
3,162
5568529.SQ.FTS.B,
Zero
Cpn,
12/18/23
..
2,787
2,639
5568556.SQ.FTS.B,
Zero
Cpn,
12/18/23
..
7,046
6,741
5568610.SQ.FTS.B,
Zero
Cpn,
12/18/23
..
19,407
18,290
5568718.SQ.FTS.B,
Zero
Cpn,
12/19/23
..
6,909
6,300
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
87
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5568752.SQ.FTS.B,
Zero
Cpn,
12/19/23
..
$
4,104
$
3,784
5568797.SQ.FTS.B,
Zero
Cpn,
12/19/23
..
1,728
1,653
5568822.SQ.FTS.B,
Zero
Cpn,
12/19/23
..
812
738
5568831.SQ.FTS.B,
Zero
Cpn,
12/19/23
..
1,666
1,588
5568844.SQ.FTS.B,
Zero
Cpn,
12/19/23
..
5,247
4,792
5568881.SQ.FTS.B,
Zero
Cpn,
12/19/23
..
1,808
1,692
5568894.SQ.FTS.B,
Zero
Cpn,
12/19/23
..
719
697
5568908.SQ.FTS.B,
Zero
Cpn,
12/19/23
..
1,442
1,323
5568917.SQ.FTS.B,
Zero
Cpn,
12/19/23
..
3,456
3,310
5568939.SQ.FTS.B,
Zero
Cpn,
12/19/23
..
6,789
6,491
5568984.SQ.FTS.B,
Zero
Cpn,
12/19/23
..
13,162
11,409
5569066.SQ.FTS.B,
Zero
Cpn,
12/19/23
..
498
469
5569070.SQ.FTS.B,
Zero
Cpn,
12/19/23
..
33,076
31,402
5569306.SQ.FTS.B,
Zero
Cpn,
12/19/23
..
6,656
6,345
5569350.SQ.FTS.B,
Zero
Cpn,
12/19/23
..
3,247
3,097
5569508.SQ.FTS.B,
Zero
Cpn,
12/20/23
..
1,986
1,894
5569518.SQ.FTS.B,
Zero
Cpn,
12/20/23
..
7,152
6,774
5569683.SQ.FTS.B,
Zero
Cpn,
12/20/23
..
4,335
4,105
5569792.SQ.FTS.B,
Zero
Cpn,
12/20/23
..
16,113
15,262
5570235.SQ.FTS.B,
Zero
Cpn,
12/20/23
..
987
927
5570264.SQ.FTS.B,
Zero
Cpn,
12/20/23
..
18,544
17,478
5570542.SQ.FTS.B,
Zero
Cpn,
12/20/23
..
7,937
7,414
5570596.SQ.FTS.B,
Zero
Cpn,
12/20/23
..
8,511
8,142
5570733.SQ.FTS.B,
Zero
Cpn,
12/20/23
..
3,813
3,635
5570782.SQ.FTS.B,
Zero
Cpn,
12/20/23
..
1,874
1,792
5570844.SQ.FTS.B,
Zero
Cpn,
12/20/23
..
11,461
10,894
5570993.SQ.FTS.B,
Zero
Cpn,
12/20/23
..
809
783
5571017.SQ.FTS.B,
Zero
Cpn,
12/20/23
..
3,114
2,798
5571085.SQ.FTS.B,
Zero
Cpn,
12/20/23
..
5,157
4,931
5571209.SQ.FTS.B,
Zero
Cpn,
12/20/23
..
6,576
5,733
5571303.SQ.FTS.B,
Zero
Cpn,
12/20/23
..
19,756
18,457
5571598.SQ.FTS.B,
Zero
Cpn,
12/20/23
..
1,229
1,115
5571634.SQ.FTS.B,
Zero
Cpn,
12/20/23
..
7,719
7,346
5571718.SQ.FTS.B,
Zero
Cpn,
12/20/23
..
5,751
5,484
5571769.SQ.FTS.B,
Zero
Cpn,
12/20/23
..
7,204
6,868
5571840.SQ.FTS.B,
Zero
Cpn,
12/20/23
..
4,504
4,250
5571904.SQ.FTS.B,
Zero
Cpn,
12/20/23
..
6,234
5,955
5571985.SQ.FTS.B,
Zero
Cpn,
12/20/23
..
15,501
14,564
5572327.SQ.FTS.B,
Zero
Cpn,
12/20/23
..
984
899
5572343.SQ.FTS.B,
Zero
Cpn,
12/20/23
..
2,724
2,582
5572397.SQ.FTS.B,
Zero
Cpn,
12/20/23
..
2,100
1,733
5572441.SQ.FTS.B,
Zero
Cpn,
12/20/23
..
2,712
2,582
5572494.SQ.FTS.B,
Zero
Cpn,
12/20/23
..
1,795
1,722
5572534.SQ.FTS.B,
Zero
Cpn,
12/20/23
..
6,444
5,956
5572655.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
8,459
7,729
5572743.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
2,467
2,326
5572793.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
5,749
5,197
5572822.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
1,247
1,167
5572830.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
482
462
5572839.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
8,390
7,998
5572906.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
8,185
7,579
5572998.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
2,954
2,304
5573027.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
2,136
2,050
5573052.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
6,521
6,222
5573133.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
5,534
5,114
5573188.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
13,510
12,714
5573267.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
16,652
15,702
5573406.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
1,862
1,761
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5573434.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
$
26,032
$
23,747
5573821.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
2,714
2,185
5573833.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
6,781
6,463
5573906.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
990
933
5573929.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
5,835
5,408
5573989.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
10,194
9,690
5574112.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
20,649
19,473
5574249.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
2,286
2,094
5574270.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
9,711
9,266
5574313.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
8,720
7,848
5574345.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
1,484
1,411
5574351.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
23,523
22,421
5574513.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
4,923
4,694
5574540.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
58,670
55,083
5574943.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
14,938
14,081
5575035.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
28,306
26,425
5575283.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
21,217
20,222
5575467.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
2,065
1,945
5575488.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
6,196
5,731
5575531.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
993
945
5575534.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
17,950
16,801
5575705.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
2,147
2,052
5575723.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
1,486
1,429
5575759.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
1,654
1,559
5575781.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
14,384
13,715
5575858.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
881
758
5575865.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
5,387
4,587
5575886.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
2,292
2,118
5575913.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
3,312
3,120
5575927.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
4,531
4,182
5575953.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
8,537
8,091
5576060.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
5,926
5,438
5576084.SQ.FTS.B,
Zero
Cpn,
12/21/23
..
7,763
7,011
5576121.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
884
714
5576136.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
10,312
9,779
5576201.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
5,533
5,061
5576258.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
31,031
29,418
5576362.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
10,122
9,541
5576416.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
2,934
2,796
5576425.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
1,372
1,306
5576438.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
3,173
2,981
5576451.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
1,551
1,466
5576464.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
923
851
5576474.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
1,829
1,723
5576476.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
1,993
1,889
5576489.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
13,965
10,945
5576548.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
11,959
11,316
5576640.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
4,892
4,651
5576679.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
2,930
2,709
5576690.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
3,708
3,534
5576720.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
4,811
4,490
5576763.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
2,127
2,041
5576772.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
3,453
3,191
5576779.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
8,710
8,303
5576902.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
6,477
6,176
5577497.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
15,260
14,555
5577624.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
844
720
5577634.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
13,157
12,509
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
88
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5577752.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
$
809
$
776
5577754.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
3,871
3,684
5577779.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
5,106
4,444
5577807.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
3,603
3,336
5577829.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
12,424
11,844
5577933.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
3,260
2,777
5577963.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
2,456
1,925
5577977.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
9,098
8,668
5578058.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
52,870
46,902
5578378.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
5,127
4,883
5578394.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
42,628
40,711
5578791.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
978
933
5578800.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
66,534
63,108
5579188.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
5,483
4,868
5579232.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
6,883
6,561
5579266.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
2,219
2,120
5579302.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
6,301
5,754
5579310.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
4,561
4,257
5579331.SQ.FTS.B,
Zero
Cpn,
12/22/23
..
2,600
2,477
5581154.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
4,526
4,313
5581188.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
1,842
1,746
5581198.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
7,007
6,398
5581245.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
2,641
2,518
5581252.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
735
662
5581261.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
7,031
6,333
5581320.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
12,356
11,539
5581388.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
22,264
21,442
5581583.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
29,894
28,171
5581882.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
4,962
4,727
5581905.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
17,564
16,639
5582521.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
24,438
22,900
5582822.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
7,821
7,474
5582895.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
600
582
5582906.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
3,141
2,906
5582926.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
1,339
1,208
5582936.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
2,513
2,297
5582953.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
2,193
2,044
5582986.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
14,355
13,016
5583097.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
5,172
4,982
5583159.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
4,777
3,956
5583211.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
1,980
1,824
5583229.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
20,406
19,438
5583434.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
9,501
8,124
5583520.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
4,431
4,209
5583569.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
10,896
9,769
5583640.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
12,248
11,585
5583774.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
3,409
3,204
5583810.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
5,040
4,771
5583849.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
50,201
46,425
5584166.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
918
848
5584177.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
49,542
41,511
5584412.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
7,014
6,614
5584458.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
7,651
7,268
5584490.SQ.FTS.B,
Zero
Cpn,
12/23/23
..
48,941
45,971
5584740.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
5,217
4,850
5584830.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
2,047
1,957
5584841.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
6,452
6,161
5584893.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
5,091
4,918
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5584918.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
$
17,111
$
16,342
5585098.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
1,905
1,781
5585107.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
6,622
6,206
5585205.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
1,695
1,584
5585211.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
1,646
1,539
5585235.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
3,663
3,458
5585275.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
1,811
1,681
5585307.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
1,868
1,695
5585320.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
12,927
12,065
5585522.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
1,491
1,389
5585535.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
2,086
1,934
5585584.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
4,098
3,922
5585629.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
5,188
4,832
5585677.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
1,241
1,131
5585686.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
3,908
3,707
5585724.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
1,081
1,013
5585727.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
2,780
2,605
5585759.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
6,791
6,305
5585801.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
1,299
1,215
5585809.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
20,447
19,088
5585950.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
1,777
1,676
5585957.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
959
919
5585965.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
4,453
4,152
5585981.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
5,007
4,752
5585998.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
42,292
39,465
5586369.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
15,150
14,482
5586481.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
7,571
7,215
5586570.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
2,942
2,788
5586585.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
9,354
8,741
5586664.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
2,910
2,718
5586696.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
1,304
1,223
5586708.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
3,975
3,689
5586732.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
6,853
6,342
5586758.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
4,275
4,067
5586771.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
9,647
8,971
5586834.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
979
906
5586840.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
9,918
9,465
5586899.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
3,138
2,868
5586913.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
2,041
1,919
5586917.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
2,295
2,122
5586936.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
58,190
55,539
5587376.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
9,027
8,556
5587431.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
2,692
2,514
5587446.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
17,195
16,002
5587561.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
8,404
8,024
5587613.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
3,744
3,479
5587626.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
21,327
19,942
5587778.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
32,741
30,917
5587961.SQ.FTS.B,
Zero
Cpn,
12/24/23
..
13,102
12,068
5588013.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
10,058
9,599
5588055.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
3,595
3,349
5588060.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
2,422
2,277
5588063.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
5,315
5,061
5588072.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
2,965
2,809
5588074.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
1,497
1,394
5588078.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
55,234
51,994
5588165.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
1,597
1,498
5588173.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
9,271
8,791
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
89
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5588206.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
$
8,355
$
7,888
5588236.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
2,457
2,301
5588243.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
1,954
1,830
5588250.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
5,117
4,801
5588267.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
1,633
1,529
5588274.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
3,959
3,742
5588290.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
3,498
3,298
5588304.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
4,886
4,593
5588321.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
1,016
910
5588333.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
9,691
9,246
5588366.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
1,891
1,790
5588375.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
11,642
11,112
5588411.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
1,120
1,030
5588415.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
10,974
10,315
5588448.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
2,628
2,508
5588455.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
1,519
1,413
5588462.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
991
923
5588473.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
15,433
14,409
5588504.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
8,461
8,047
5588529.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
1,530
1,433
5588538.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
6,755
6,314
5588554.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
10,343
9,897
5588592.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
12,201
11,647
5588633.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
1,530
1,419
5588640.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
13,428
12,563
5588678.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
734
638
5588684.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
6,704
6,354
5588708.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
5,915
5,550
5588732.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
6,912
6,595
5588758.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
4,632
4,423
5588775.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
1,368
1,265
5588780.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
2,050
1,891
5588786.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
5,894
5,513
5588800.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
3,002
2,843
5588812.SQ.FTS.B,
Zero
Cpn,
12/25/23
..
7,176
6,873
5588832.SQ.FTS.B,
Zero
Cpn,
12/26/23
..
13,791
12,861
5588874.SQ.FTS.B,
Zero
Cpn,
12/26/23
..
310
289
5588875.SQ.FTS.B,
Zero
Cpn,
12/26/23
..
4,128
3,838
5588888.SQ.FTS.B,
Zero
Cpn,
12/26/23
..
4,400
4,083
5588903.SQ.FTS.B,
Zero
Cpn,
12/26/23
..
1,794
1,635
5588907.SQ.FTS.B,
Zero
Cpn,
12/26/23
..
9,401
8,906
5588937.SQ.FTS.B,
Zero
Cpn,
12/26/23
..
4,549
4,237
5588955.SQ.FTS.B,
Zero
Cpn,
12/26/23
..
1,698
1,621
5588959.SQ.FTS.B,
Zero
Cpn,
12/26/23
..
1,940
1,813
5588968.SQ.FTS.B,
Zero
Cpn,
12/26/23
..
22,622
21,170
5589046.SQ.FTS.B,
Zero
Cpn,
12/26/23
..
5,885
5,615
5589069.SQ.FTS.B,
Zero
Cpn,
12/26/23
..
1,673
1,556
5589074.SQ.FTS.B,
Zero
Cpn,
12/26/23
..
7,472
6,998
5589109.SQ.FTS.B,
Zero
Cpn,
12/26/23
..
7,444
7,103
5589139.SQ.FTS.B,
Zero
Cpn,
12/26/23
..
3,178
3,045
5589150.SQ.FTS.B,
Zero
Cpn,
12/26/23
..
1,566
1,464
5589160.SQ.FTS.B,
Zero
Cpn,
12/26/23
..
2,640
2,483
5589177.SQ.FTS.B,
Zero
Cpn,
12/26/23
..
815
756
5589185.SQ.FTS.B,
Zero
Cpn,
12/26/23
..
4,081
3,838
5589204.SQ.FTS.B,
Zero
Cpn,
12/26/23
..
1,024
955
5589208.SQ.FTS.B,
Zero
Cpn,
12/26/23
..
1,973
1,851
5589214.SQ.FTS.B,
Zero
Cpn,
12/26/23
..
17,870
16,923
5589272.SQ.FTS.B,
Zero
Cpn,
12/26/23
..
2,732
2,590
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5589285.SQ.FTS.B,
Zero
Cpn,
12/26/23
..
$
3,521
$
3,293
5589303.SQ.FTS.B,
Zero
Cpn,
12/26/23
..
6,745
6,398
5589322.SQ.FTS.B,
Zero
Cpn,
12/26/23
..
7,159
6,709
5589340.SQ.FTS.B,
Zero
Cpn,
12/26/23
..
2,322
2,200
5589347.SQ.FTS.B,
Zero
Cpn,
12/26/23
..
8,307
7,927
5589365.SQ.FTS.B,
Zero
Cpn,
12/26/23
..
854
780
5589409.SQ.FTS.B,
Zero
Cpn,
12/26/23
..
1,552
1,443
5593219.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
36,666
34,056
5593469.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
5,785
5,520
5593493.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
66,317
62,325
5593816.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
10,504
9,952
5593862.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
8,281
7,780
5593918.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
10,139
9,673
5593982.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
4,714
4,404
5594031.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
671
578
5594046.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
4,740
4,523
5594086.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
994
939
5594102.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
6,142
5,700
5594152.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
2,482
2,314
5594170.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
2,017
1,884
5594180.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
1,692
1,614
5594215.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
544
470
5594228.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
679
636
5594231.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
3,579
3,368
5594259.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
847
785
5594261.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
2,715
2,589
5594283.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
2,998
2,860
5594306.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
6,198
5,795
5594353.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
4,780
4,459
5594391.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
2,777
2,571
5594418.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
5,767
5,411
5594513.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
1,696
1,575
5594517.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
1,584
1,483
5594527.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
29,900
28,794
5594633.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
7,744
7,246
5594662.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
12,790
11,971
5594695.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
4,841
4,677
5594715.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
32,782
30,767
5594879.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
1,341
1,231
5594904.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
15,901
14,935
5594967.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
1,522
1,442
5594985.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
7,766
7,413
5595020.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
75,899
72,438
5595300.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
43,101
40,382
5595540.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
1,007
947
5595624.SQ.FTS.B,
Zero
Cpn,
12/28/23
..
986
922
5596587.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
39,303
36,795
5596944.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
3,576
3,335
5596984.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
10,894
10,208
5597084.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
5,850
5,434
5597187.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
1,562
1,462
5597195.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
3,016
2,805
5597211.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
3,063
2,856
5597239.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
2,893
2,673
5597301.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
11,447
10,734
5597424.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
1,042
993
5597428.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
2,003
1,911
5597449.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
6,509
6,051
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
90
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5597497.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
$
4,192
$
3,929
5597510.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
13,195
12,597
5597662.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
1,158
1,093
5597667.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
3,915
3,595
5597681.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
7,968
7,476
5597724.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
61,716
57,328
5598153.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
2,872
2,676
5598179.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
736
688
5598185.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
3,178
2,953
5598211.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
5,416
4,105
5598513.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
4,834
4,522
5598565.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
1,293
1,206
5598566.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
17,775
16,641
5598756.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
4,762
4,409
5598824.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
2,243
2,101
5598842.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
857
811
5598844.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
5,203
4,962
5598874.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
29,870
27,997
5599191.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
2,949
2,762
5599211.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
6,775
6,460
5599324.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
3,139
2,958
5599344.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
5,410
5,056
5599450.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
2,440
2,269
5599510.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
5,371
5,026
5599592.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
4,263
4,000
5599651.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
8,415
8,031
5599720.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
718
656
5599728.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
6,301
6,049
5599812.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
3,238
3,043
5599834.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
6,351
5,927
5599893.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
5,258
4,846
5599940.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
5,083
4,728
5600010.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
63,942
60,695
5600477.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
976
916
5600479.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
1,011
911
5600492.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
732
682
5600496.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
3,293
3,151
5600526.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
1,034
959
5600545.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
4,964
4,706
5600570.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
2,743
2,617
5600574.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
1,591
1,489
5600589.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
3,363
3,157
5600631.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
1,741
1,617
5600632.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
3,966
3,688
5600651.SQ.FTS.B,
Zero
Cpn,
12/29/23
..
21,271
19,922
5608074.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
2,572
2,406
5608098.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
2,848
2,719
5608112.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
53,723
50,513
5608465.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
8,961
8,621
5608575.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
11,885
11,262
5608730.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
30,790
28,807
5609608.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
1,834
1,685
5609672.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
591
466
5609688.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
3,868
3,690
5609770.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
29,399
27,552
5610266.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
72,684
68,703
5611063.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
10,326
9,785
5611177.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
7,092
6,765
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5611213.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
$
22,227
$
21,046
5611376.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
12,369
11,806
5611432.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
6,136
5,699
5611467.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
4,862
4,552
5611495.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
4,667
4,378
5611517.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
11,192
10,495
5611591.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
3,384
3,276
5611621.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
19,735
18,368
5611750.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
7,001
6,457
5611854.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
33,733
31,695
5612128.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
19,774
18,747
5612313.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
18,977
17,837
5612369.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
9,407
8,972
5612440.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
836
781
5612450.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
10,229
9,574
5612507.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
18,821
17,639
5612697.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
2,411
2,126
5612708.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
1,899
1,781
5612728.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
1,133
1,044
5612747.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
10,196
9,548
5612822.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
4,056
3,790
5612855.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
6,006
5,735
5612882.SQ.FTS.B,
Zero
Cpn,
12/30/23
..
7,946
7,510
5613089.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
1,314
1,271
5613114.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
4,433
4,137
5613137.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
4,215
4,022
5613160.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
48,947
45,961
5613556.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
35,824
33,653
5614057.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
42,604
39,976
5614857.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
496
433
5614878.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
665
622
5614883.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
4,805
4,544
5614938.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
3,790
3,550
5614994.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
1,481
1,379
5615016.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
25,581
24,023
5615236.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
5,265
4,925
5615324.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
2,938
2,733
5615372.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
12,152
11,595
5615465.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
8,982
8,572
5615547.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
13,050
12,448
5615668.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
10,602
9,938
5615816.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
500
384
5615832.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
1,031
978
5615845.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
1,920
1,826
5615868.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
1,457
1,374
5615890.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
3,103
2,916
5615922.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
4,378
4,185
5615948.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
821
757
5615949.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
7,744
7,223
5616009.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
8,127
7,593
5616036.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
1,247
1,168
5616046.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
3,505
3,294
5616066.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
6,659
6,352
5616088.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
18,944
17,639
5616216.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
33,273
31,581
5616400.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
732
696
5616405.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
11,818
11,196
5616463.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
7,243
6,906
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
91
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5616516.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
$
770
$
711
5616524.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
1,624
1,518
5616538.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
567
528
5616565.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
20,692
19,667
5616781.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
2,285
2,147
5616807.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
668
631
5616813.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
2,322
2,101
5616851.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
10,545
9,864
5616965.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
991
920
5616972.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
4,389
4,188
5617036.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
4,767
4,435
5617137.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
7,243
6,864
5617273.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
6,942
6,508
5617433.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
5,067
4,762
5617510.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
688
645
5617512.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
2,642
2,503
5617615.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
3,752
3,527
5617674.SQ.FTS.B,
Zero
Cpn,
1/01/24
...
6,506
6,035
5617724.SQ.FTS.B,
Zero
Cpn,
1/02/24
...
2,468
2,300
5617744.SQ.FTS.B,
Zero
Cpn,
1/02/24
...
2,837
2,652
5617772.SQ.FTS.B,
Zero
Cpn,
1/02/24
...
6,554
6,254
5617837.SQ.FTS.B,
Zero
Cpn,
1/02/24
...
4,960
4,720
5617874.SQ.FTS.B,
Zero
Cpn,
1/02/24
...
4,759
4,478
5617919.SQ.FTS.B,
Zero
Cpn,
1/02/24
...
2,490
2,328
5617942.SQ.FTS.B,
Zero
Cpn,
1/02/24
...
19,066
18,188
5618116.SQ.FTS.B,
Zero
Cpn,
1/02/24
...
13,912
12,894
5618234.SQ.FTS.B,
Zero
Cpn,
1/02/24
...
2,556
2,423
5618248.SQ.FTS.B,
Zero
Cpn,
1/02/24
...
3,616
3,384
5618286.SQ.FTS.B,
Zero
Cpn,
1/02/24
...
1,114
1,025
5618299.SQ.FTS.B,
Zero
Cpn,
1/02/24
...
10,355
9,705
5618380.SQ.FTS.B,
Zero
Cpn,
1/02/24
...
5,533
5,279
5618433.SQ.FTS.B,
Zero
Cpn,
1/02/24
...
4,636
4,494
5618553.SQ.FTS.B,
Zero
Cpn,
1/03/24
...
930
859
5618558.SQ.FTS.B,
Zero
Cpn,
1/03/24
...
6,104
5,710
5618604.SQ.FTS.B,
Zero
Cpn,
1/03/24
...
4,284
4,010
5618640.SQ.FTS.B,
Zero
Cpn,
1/03/24
...
3,542
3,379
5618678.SQ.FTS.B,
Zero
Cpn,
1/03/24
...
6,668
6,417
5618741.SQ.FTS.B,
Zero
Cpn,
1/03/24
...
6,826
6,355
5618807.SQ.FTS.B,
Zero
Cpn,
1/03/24
...
6,163
5,737
5618863.SQ.FTS.B,
Zero
Cpn,
1/03/24
...
7,600
7,208
5618942.SQ.FTS.B,
Zero
Cpn,
1/03/24
...
3,854
3,652
5618969.SQ.FTS.B,
Zero
Cpn,
1/03/24
...
2,424
2,208
5618988.SQ.FTS.B,
Zero
Cpn,
1/03/24
...
1,086
1,013
5618997.SQ.FTS.B,
Zero
Cpn,
1/03/24
...
4,604
4,391
5619038.SQ.FTS.B,
Zero
Cpn,
1/03/24
...
5,387
5,148
5619087.SQ.FTS.B,
Zero
Cpn,
1/03/24
...
3,200
3,039
5619117.SQ.FTS.B,
Zero
Cpn,
1/03/24
...
10,347
9,759
5619205.SQ.FTS.B,
Zero
Cpn,
1/03/24
...
2,371
2,207
5619228.SQ.FTS.B,
Zero
Cpn,
1/03/24
...
2,721
2,546
5619248.SQ.FTS.B,
Zero
Cpn,
1/03/24
...
6,724
6,352
5619292.SQ.FTS.B,
Zero
Cpn,
1/03/24
...
4,062
3,800
5619331.SQ.FTS.B,
Zero
Cpn,
1/04/24
...
9,444
8,880
5619407.SQ.FTS.B,
Zero
Cpn,
1/04/24
...
561
516
5619417.SQ.FTS.B,
Zero
Cpn,
1/04/24
...
4,664
4,381
5619451.SQ.FTS.B,
Zero
Cpn,
1/04/24
...
2,420
2,249
5619464.SQ.FTS.B,
Zero
Cpn,
1/04/24
...
941
851
5619471.SQ.FTS.B,
Zero
Cpn,
1/04/24
...
3,140
2,921
5619487.SQ.FTS.B,
Zero
Cpn,
1/04/24
...
4,051
3,807
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5619534.SQ.FTS.B,
Zero
Cpn,
1/04/24
...
$
4,771
$
4,467
5619571.SQ.FTS.B,
Zero
Cpn,
1/04/24
...
5,166
4,835
5619613.SQ.FTS.B,
Zero
Cpn,
1/04/24
...
23,358
22,140
5619821.SQ.FTS.B,
Zero
Cpn,
1/04/24
...
7,926
7,383
5619915.SQ.FTS.B,
Zero
Cpn,
1/04/24
...
4,691
4,510
5619959.SQ.FTS.B,
Zero
Cpn,
1/04/24
...
14,723
13,794
5620066.SQ.FTS.B,
Zero
Cpn,
1/04/24
...
2,958
2,775
5620082.SQ.FTS.B,
Zero
Cpn,
1/04/24
...
7,946
7,436
5620262.SQ.FTS.B,
Zero
Cpn,
1/05/24
...
22,029
21,017
5621042.SQ.FTS.B,
Zero
Cpn,
1/05/24
...
14,627
14,067
5621775.SQ.FTS.B,
Zero
Cpn,
1/05/24
...
6,634
6,206
5621917.SQ.FTS.B,
Zero
Cpn,
1/05/24
...
887
840
5621935.SQ.FTS.B,
Zero
Cpn,
1/05/24
...
2,460
2,347
5621993.SQ.FTS.B,
Zero
Cpn,
1/05/24
...
1,462
1,354
5622024.SQ.FTS.B,
Zero
Cpn,
1/05/24
...
3,608
3,324
5622057.SQ.FTS.B,
Zero
Cpn,
1/05/24
...
49,600
46,503
5622661.SQ.FTS.B,
Zero
Cpn,
1/05/24
...
6,414
6,062
5622763.SQ.FTS.B,
Zero
Cpn,
1/05/24
...
927
871
5622765.SQ.FTS.B,
Zero
Cpn,
1/05/24
...
35,522
32,924
5623339.SQ.FTS.B,
Zero
Cpn,
1/05/24
...
3,125
2,940
5623363.SQ.FTS.B,
Zero
Cpn,
1/05/24
...
26,119
24,485
5623951.SQ.FTS.B,
Zero
Cpn,
1/05/24
...
3,534
3,260
5623971.SQ.FTS.B,
Zero
Cpn,
1/05/24
...
5,108
4,872
5624029.SQ.FTS.B,
Zero
Cpn,
1/05/24
...
25,547
24,218
5624217.SQ.FTS.B,
Zero
Cpn,
1/05/24
...
2,327
2,167
5624245.SQ.FTS.B,
Zero
Cpn,
1/05/24
...
3,361
3,148
5624299.SQ.FTS.B,
Zero
Cpn,
1/05/24
...
6,700
6,251
5624349.SQ.FTS.B,
Zero
Cpn,
1/05/24
...
15,589
14,551
5624636.SQ.FTS.B,
Zero
Cpn,
1/05/24
...
21,213
19,920
5625056.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
40,251
38,394
5625361.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
14,675
13,741
5625522.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
8,576
8,229
5625644.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
9,671
8,960
5625762.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
2,980
2,790
5625834.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
6,384
6,206
5626005.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
10,513
9,977
5626497.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
752
660
5626561.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
21,105
19,711
5627066.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
3,214
3,011
5627102.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
2,052
1,921
5627114.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
751
703
5627125.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
8,604
8,209
5627218.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
15,615
14,626
5627350.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
4,237
3,970
5627423.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
7,056
6,573
5627541.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
58,643
54,354
5628161.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
1,961
1,818
5628180.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
34,463
32,644
5628510.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
48,233
45,124
5629021.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
461
425
5629025.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
28,736
26,579
5629389.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
5,346
4,985
5629471.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
77,128
72,454
5629998.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
1,559
1,453
5630021.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
8,803
8,230
5630082.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
9,977
9,520
5630151.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
3,359
3,176
5630189.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
2,027
1,938
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
92
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5630208.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
$
1,338
$
1,267
5630219.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
6,273
5,846
5630272.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
2,536
2,356
5630278.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
1,027
961
5630281.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
3,972
3,759
5630300.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
10,722
10,098
5630379.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
3,848
3,572
5630405.SQ.FTS.B,
Zero
Cpn,
1/06/24
...
7,169
6,657
5640795.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
7,274
6,770
5640980.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
3,283
3,078
5640996.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
5,123
4,827
5641025.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
3,487
3,327
5641063.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
6,373
6,086
5641148.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
3,972
3,878
5641179.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
6,259
5,969
5641271.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
11,439
10,618
5641417.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
1,349
1,266
5641443.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
2,477
2,317
5641510.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
8,679
8,151
5641620.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
1,431
1,337
5641671.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
2,073
1,933
5641673.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
2,924
2,731
5641713.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
952
887
5641753.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
5,492
5,139
5641826.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
31,937
29,997
5643676.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
6,694
6,328
5643900.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
7,346
7,003
5644054.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
4,610
4,354
5644103.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
4,691
4,474
5644265.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
14,710
13,819
5644522.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
2,016
1,882
5644591.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
3,816
3,596
5644724.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
9,113
8,531
5644862.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
5,513
5,141
5645002.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
8,565
8,031
5645088.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
13,782
12,842
5645286.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
7,900
7,526
5645369.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
5,395
5,171
5645436.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
20,598
19,089
5645579.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
2,904
2,769
5645612.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
1,896
1,780
5645630.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
2,995
2,813
5645646.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
1,961
1,869
5645657.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
1,840
1,713
5645692.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
1,669
1,549
5645728.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
1,103
1,030
5645741.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
16,092
15,077
5645859.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
2,120
2,022
5645876.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
6,265
5,847
5645904.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
26,458
24,860
5646233.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
11,987
11,162
5646375.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
2,111
1,978
5646396.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
42,920
40,953
5646765.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
7,351
6,871
5646837.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
20,551
19,221
5647091.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
30,402
28,549
5647395.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
20,971
19,690
5647502.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
2,469
2,283
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5647534.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
$
4,906
$
4,680
5647551.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
9,732
9,109
5647632.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
3,310
3,133
5647659.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
5,801
5,423
5647726.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
5,039
4,819
5647775.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
2,741
2,568
5647807.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
5,565
5,224
5647857.SQ.FTS.B,
Zero
Cpn,
1/07/24
...
15,146
14,446
5648053.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
16,065
15,089
5648285.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
17,714
16,586
5648478.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
1,600
1,509
5648523.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
714
678
5648565.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
2,708
2,600
5648602.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
21,194
19,682
5648972.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
1,185
1,102
5648994.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
4,607
4,484
5649039.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
1,338
1,254
5649093.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
6,324
5,894
5649222.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
15,334
14,314
5649633.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
1,290
1,193
5649697.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
8,959
8,450
5649941.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
3,327
3,066
5650606.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
4,946
4,685
5650893.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
1,308
1,229
5650910.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
15,566
14,666
5651317.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
7,398
7,058
5651455.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
537
502
5651483.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
7,073
6,623
5651560.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
3,754
3,516
5651605.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
1,068
1,019
5651619.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
2,202
2,038
5651691.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
1,481
1,403
5651706.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
8,599
8,203
5651792.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
3,557
3,379
5651835.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
2,592
2,472
5651896.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
8,605
8,015
5651983.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
4,037
3,844
5652038.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
622
593
5652053.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
6,267
5,764
5652116.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
11,685
11,146
5652304.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
3,144
2,965
5652332.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
3,403
3,277
5652373.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
1,966
1,892
5652400.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
5,485
5,232
5652469.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
1,576
1,497
5652515.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
1,240
1,143
5652538.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
21,034
19,687
5652884.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
2,473
2,305
5652935.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
11,197
10,475
5653068.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
2,050
1,921
5653079.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
7,335
6,883
5653224.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
2,078
1,939
5653308.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
2,665
2,446
5653347.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
20,854
19,228
5653711.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
7,603
7,083
5653773.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
58,184
55,118
5654133.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
58,135
54,131
5654596.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
796
745
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
93
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5654600.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
$
859
$
789
5654601.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
15,369
14,659
5654667.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
1,165
1,111
5654677.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
1,854
1,756
5654692.SQ.FTS.B,
Zero
Cpn,
1/08/24
...
83,703
79,626
5655493.SQ.FTS.B,
Zero
Cpn,
1/09/24
...
11,270
10,750
5655586.SQ.FTS.B,
Zero
Cpn,
1/09/24
...
3,832
3,601
5655604.SQ.FTS.B,
Zero
Cpn,
1/09/24
...
7,330
6,880
5655633.SQ.FTS.B,
Zero
Cpn,
1/09/24
...
1,846
1,727
5655643.SQ.FTS.B,
Zero
Cpn,
1/09/24
...
4,860
4,539
5655675.SQ.FTS.B,
Zero
Cpn,
1/09/24
...
8,515
8,118
5655752.SQ.FTS.B,
Zero
Cpn,
1/09/24
...
2,986
2,772
5655776.SQ.FTS.B,
Zero
Cpn,
1/09/24
...
9,193
8,540
5655850.SQ.FTS.B,
Zero
Cpn,
1/09/24
...
7,170
6,630
5655930.SQ.FTS.B,
Zero
Cpn,
1/09/24
...
1,529
1,430
5655939.SQ.FTS.B,
Zero
Cpn,
1/09/24
...
5,458
5,127
5655993.SQ.FTS.B,
Zero
Cpn,
1/09/24
...
3,807
3,605
5656024.SQ.FTS.B,
Zero
Cpn,
1/09/24
...
6,330
6,034
5656075.SQ.FTS.B,
Zero
Cpn,
1/09/24
...
14,284
13,623
5656207.SQ.FTS.B,
Zero
Cpn,
1/09/24
...
17,747
16,626
5656367.SQ.FTS.B,
Zero
Cpn,
1/10/24
...
2,577
2,404
5656380.SQ.FTS.B,
Zero
Cpn,
1/10/24
...
9,557
9,048
5656473.SQ.FTS.B,
Zero
Cpn,
1/10/24
...
14,882
13,813
5656606.SQ.FTS.B,
Zero
Cpn,
1/10/24
...
3,215
3,028
5656632.SQ.FTS.B,
Zero
Cpn,
1/10/24
...
8,537
7,948
5656711.SQ.FTS.B,
Zero
Cpn,
1/10/24
...
6,170
5,857
5656767.SQ.FTS.B,
Zero
Cpn,
1/10/24
...
4,969
4,629
5656822.SQ.FTS.B,
Zero
Cpn,
1/10/24
...
9,055
8,638
5656912.SQ.FTS.B,
Zero
Cpn,
1/10/24
...
450
345
5656927.SQ.FTS.B,
Zero
Cpn,
1/10/24
...
9,741
9,121
5657019.SQ.FTS.B,
Zero
Cpn,
1/10/24
...
2,427
2,297
5657035.SQ.FTS.B,
Zero
Cpn,
1/10/24
...
1,397
1,327
5657042.SQ.FTS.B,
Zero
Cpn,
1/10/24
...
1,787
1,676
5657231.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
17,568
16,435
5658162.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
5,823
5,420
5658404.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
6,921
6,601
5659111.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
9,146
8,475
5659606.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
1,005
936
5659740.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
1,677
1,569
5659867.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
3,242
3,029
5660018.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
4,867
4,550
5660232.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
2,650
2,454
5660364.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
1,790
1,662
5660412.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
10,595
10,036
5660684.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
8,756
8,352
5660968.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
15,117
14,156
5661347.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
32,811
31,137
5662058.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
3,966
3,699
5662136.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
258
245
5662138.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
4,385
4,091
5662231.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
5,122
4,777
5662327.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
12,714
12,126
5662555.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
5,565
5,224
5662598.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
1,594
1,473
5662627.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
3,682
3,416
5662691.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
29,838
27,764
5663218.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
1,890
1,767
5663245.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
3,030
2,879
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5663281.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
$
4,050
$
3,793
5663321.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
26,012
24,635
5663672.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
948
893
5663674.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
7,551
7,160
5663740.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
2,635
2,462
5663762.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
7,321
6,938
5663846.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
5,181
5,006
5663931.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
2,201
2,038
5663967.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
1,188
1,100
5663983.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
1,322
1,252
5664015.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
424
397
5664035.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
48,206
45,249
5664828.SQ.FTS.B,
Zero
Cpn,
1/11/24
...
8,827
8,226
5664967.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
8,470
8,077
5665103.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
47,973
45,753
5665606.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
5,447
5,103
5665646.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
11,524
10,843
5665759.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
4,489
4,172
5665857.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
24,027
22,749
5666740.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
597
560
5666806.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
14,931
14,237
5667369.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
45,975
44,158
5668136.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
18,219
17,107
5668506.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
3,248
2,998
5668605.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
2,762
2,653
5668715.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
798
741
5668757.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
1,466
1,362
5668779.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
28,787
26,967
5669189.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
1,338
1,252
5669208.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
2,856
2,704
5669248.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
14,047
13,171
5669454.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
1,636
1,527
5669464.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
692
647
5669465.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
990
937
5669478.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
20,530
19,568
5669715.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
8,023
7,533
5669842.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
21,482
20,173
5670138.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
7,102
6,774
5670247.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
8,737
8,158
5670327.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
17,595
16,839
5670537.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
13,074
12,513
5670740.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
18,509
17,652
5670977.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
3,707
3,486
5671092.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
6,432
6,094
5671200.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
5,111
4,778
5671281.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
2,985
2,774
5671341.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
2,267
2,105
5671405.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
7,007
6,554
5671473.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
716
672
5671492.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
10,053
9,391
5671579.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
1,664
1,564
5671581.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
42,760
40,028
5671991.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
37,711
35,616
5672339.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
11,682
11,132
5672476.SQ.FTS.B,
Zero
Cpn,
1/12/24
...
9,252
8,766
5672653.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
12,139
11,502
5672815.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
5,593
5,234
5672884.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
3,390
3,235
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
94
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5672946.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
$
6,993
$
6,659
5673004.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
10,147
9,692
5673131.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
3,821
3,573
5673210.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
3,594
3,378
5673272.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
2,534
2,378
5673319.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
954
874
5673351.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
5,456
5,112
5673391.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
8,051
7,528
5673451.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
5,393
5,036
5673526.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
3,159
2,947
5673548.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
4,318
4,026
5673588.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
3,822
3,569
5673654.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
5,665
5,362
5673720.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
30,478
28,555
5674244.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
13,009
12,405
5674361.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
15,355
14,552
5674870.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
2,240
2,097
5674942.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
4,204
4,010
5675013.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
8,579
8,126
5675130.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
2,959
2,754
5675245.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
17,372
16,273
5675563.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
3,672
3,412
5675625.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
1,511
1,418
5675663.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
10,921
10,340
5675823.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
2,743
2,646
5675850.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
2,130
2,028
5675871.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
38,870
36,538
5676151.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
13,127
12,067
5676225.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
1,122
1,046
5676238.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
2,542
2,380
5676293.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
39,361
36,603
5676758.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
24,825
23,191
5676920.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
30,540
28,805
5677272.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
4,731
4,564
5677329.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
6,603
6,180
5677406.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
27,734
25,970
5677666.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
12,139
11,363
5677768.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
7,456
6,971
5677873.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
5,722
5,335
5677938.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
5,363
5,059
5678007.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
3,616
3,357
5678037.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
32,699
30,830
5678354.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
5,708
5,340
5678414.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
5,033
4,780
5678433.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
1,880
1,793
5678440.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
3,849
3,607
5678455.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
1,172
1,082
5678460.SQ.FTS.B,
Zero
Cpn,
1/13/24
...
42,211
39,153
5688946.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
6,094
5,683
5689002.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
37,676
35,076
5689248.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
2,427
2,268
5689262.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
20,275
19,330
5689587.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
1,020
949
5689590.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
9,009
8,588
5689696.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
10,806
10,304
5689849.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
3,401
3,131
5689922.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
30,308
28,766
5690545.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
6,798
6,356
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5690927.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
$
9,514
$
8,915
5691769.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
3,151
2,949
5691978.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
7,300
6,960
5692259.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
11,644
11,096
5692545.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
838
776
5692565.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
2,383
2,214
5692636.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
5,647
5,262
5692768.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
1,102
1,035
5692786.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
26,221
24,471
5693390.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
64,518
61,515
5694231.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
8,642
8,090
5694328.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
62,257
58,956
5694816.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
1,392
1,322
5694822.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
2,250
2,109
5694850.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
10,532
9,960
5694969.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
5,467
5,119
5695004.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
60,028
58,332
5695450.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
38,887
37,058
5695746.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
2,390
2,239
5695774.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
1,310
1,232
5695793.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
21,917
20,418
5695931.SQ.FTS.B,
Zero
Cpn,
1/14/24
...
19,893
18,963
5696221.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
1,919
1,780
5696256.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
7,174
6,841
5696317.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
4,118
3,852
5696348.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
6,720
6,408
5696389.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
4,861
4,478
5696426.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
15,216
14,509
5696512.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
3,215
3,090
5696527.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
7,184
6,689
5696585.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
1,632
1,539
5696602.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
24,050
22,566
5696963.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
16,236
15,212
5697302.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
10,664
10,243
5697818.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
13,885
13,237
5698322.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
1,613
1,537
5698393.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
14,451
13,539
5698704.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
7,230
6,758
5698819.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
5,411
5,158
5698894.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
4,103
3,912
5698927.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
2,733
2,560
5698949.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
1,529
1,444
5699012.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
5,391
5,092
5699054.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
19,362
18,125
5699419.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
13,685
12,838
5699588.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
5,987
5,600
5699628.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
2,026
1,914
5699678.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
9,416
8,915
5699768.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
3,014
2,851
5699811.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
1,019
965
5699822.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
3,790
3,613
5699871.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
28,303
27,057
5700135.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
6,812
6,495
5700214.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
11,814
11,119
5700306.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
2,121
1,991
5700327.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
10,869
10,293
5700432.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
1,147
1,077
5700441.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
1,496
1,408
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
95
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5700465.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
$
20,381
$
19,432
5700842.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
4,177
3,957
5700933.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
1,853
1,728
5700958.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
2,588
2,436
5701000.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
5,257
5,013
5701032.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
817
768
5701033.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
3,275
3,123
5701049.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
8,736
8,168
5701127.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
16,967
16,173
5701265.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
21,431
20,114
5701456.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
16,784
15,582
5701543.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
43,535
41,209
5701882.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
9,530
8,920
5701983.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
3,295
3,093
5701992.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
1,932
1,808
5702023.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
6,771
6,357
5702079.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
7,111
6,760
5702094.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
4,223
4,027
5702126.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
3,106
2,902
5702142.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
2,425
2,263
5702147.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
3,522
3,271
5702269.SQ.FTS.B,
Zero
Cpn,
1/15/24
...
30,004
28,082
5702369.SQ.FTS.B,
Zero
Cpn,
1/16/24
...
8,989
8,588
5702433.SQ.FTS.B,
Zero
Cpn,
1/16/24
...
5,425
5,051
5702459.SQ.FTS.B,
Zero
Cpn,
1/16/24
...
1,320
1,245
5702466.SQ.FTS.B,
Zero
Cpn,
1/16/24
...
593
562
5702477.SQ.FTS.B,
Zero
Cpn,
1/16/24
...
6,767
6,341
5702510.SQ.FTS.B,
Zero
Cpn,
1/16/24
...
2,434
2,306
5702515.SQ.FTS.B,
Zero
Cpn,
1/16/24
...
2,105
1,971
5702523.SQ.FTS.B,
Zero
Cpn,
1/16/24
...
2,160
2,029
5702537.SQ.FTS.B,
Zero
Cpn,
1/16/24
...
5,374
5,105
5702560.SQ.FTS.B,
Zero
Cpn,
1/16/24
...
4,429
4,222
5702578.SQ.FTS.B,
Zero
Cpn,
1/16/24
...
6,875
6,556
5702627.SQ.FTS.B,
Zero
Cpn,
1/16/24
...
1,913
1,817
5702638.SQ.FTS.B,
Zero
Cpn,
1/16/24
...
1,580
1,476
5702643.SQ.FTS.B,
Zero
Cpn,
1/16/24
...
3,024
2,886
5702659.SQ.FTS.B,
Zero
Cpn,
1/16/24
...
9,852
9,425
5702698.SQ.FTS.B,
Zero
Cpn,
1/16/24
...
7,427
6,955
5702758.SQ.FTS.B,
Zero
Cpn,
1/16/24
...
4,672
4,375
5702778.SQ.FTS.B,
Zero
Cpn,
1/16/24
...
4,247
3,928
5702803.SQ.FTS.B,
Zero
Cpn,
1/16/24
...
3,069
2,874
5702828.SQ.FTS.B,
Zero
Cpn,
1/16/24
...
7,343
7,001
5702871.SQ.FTS.B,
Zero
Cpn,
1/16/24
...
992
953
5702878.SQ.FTS.B,
Zero
Cpn,
1/16/24
...
19,565
18,650
5703016.SQ.FTS.B,
Zero
Cpn,
1/16/24
...
925
879
5703021.SQ.FTS.B,
Zero
Cpn,
1/16/24
...
3,201
3,078
5703038.SQ.FTS.B,
Zero
Cpn,
1/16/24
...
18,387
17,409
5703145.SQ.FTS.B,
Zero
Cpn,
1/17/24
...
8,092
7,714
5703178.SQ.FTS.B,
Zero
Cpn,
1/17/24
...
5,188
4,858
5703213.SQ.FTS.B,
Zero
Cpn,
1/17/24
...
1,617
1,507
5703234.SQ.FTS.B,
Zero
Cpn,
1/17/24
...
937
895
5703244.SQ.FTS.B,
Zero
Cpn,
1/17/24
...
7,601
7,004
5703295.SQ.FTS.B,
Zero
Cpn,
1/17/24
...
3,348
3,123
5703301.SQ.FTS.B,
Zero
Cpn,
1/17/24
...
4,030
3,841
5703323.SQ.FTS.B,
Zero
Cpn,
1/17/24
...
14,388
13,687
5703401.SQ.FTS.B,
Zero
Cpn,
1/17/24
...
1,653
1,539
5703414.SQ.FTS.B,
Zero
Cpn,
1/17/24
...
5,548
5,243
5703453.SQ.FTS.B,
Zero
Cpn,
1/17/24
...
1,753
1,638
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5703461.SQ.FTS.B,
Zero
Cpn,
1/17/24
...
$
10,194
$
9,717
5703531.SQ.FTS.B,
Zero
Cpn,
1/17/24
...
4,415
4,210
5703571.SQ.FTS.B,
Zero
Cpn,
1/17/24
...
5,392
5,049
5703615.SQ.FTS.B,
Zero
Cpn,
1/17/24
...
9,515
8,862
5703688.SQ.FTS.B,
Zero
Cpn,
1/17/24
...
2,488
2,329
5703708.SQ.FTS.B,
Zero
Cpn,
1/17/24
...
4,084
3,894
5703736.SQ.FTS.B,
Zero
Cpn,
1/17/24
...
1,720
1,610
5703743.SQ.FTS.B,
Zero
Cpn,
1/17/24
...
2,957
2,747
5703914.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
712
669
5703965.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
2,310
2,163
5704024.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
1,082
1,008
5704076.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
1,092
1,011
5704135.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
5,420
5,077
5704312.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
1,930
1,806
5704368.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
3,797
3,595
5704508.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
6,448
6,145
5704779.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
16,398
15,391
5705712.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
3,373
3,158
5705955.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
1,967
1,865
5706017.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
1,157
1,093
5706022.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
1,861
1,727
5706094.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
1,654
1,554
5706189.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
939
886
5706212.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
8,340
7,790
5706397.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
23,348
22,514
5706985.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
2,832
2,683
5707002.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
9,181
8,593
5707108.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
7,805
7,251
5707234.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
2,086
1,949
5707261.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
42,224
39,449
5707758.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
6,629
6,239
5707876.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
1,281
1,217
5707894.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
1,230
1,131
5707914.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
19,656
18,474
5708263.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
4,835
4,657
5708360.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
1,500
1,401
5708392.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
23,685
22,180
5708764.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
988
924
5708786.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
6,095
5,813
5708905.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
1,036
978
5708958.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
35,520
33,617
5709449.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
3,921
3,651
5709499.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
2,139
1,988
5709549.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
14,276
13,396
5709698.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
4,150
3,875
5709765.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
7,968
7,460
5709867.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
1,881
1,766
5709903.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
4,501
4,271
5709966.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
1,866
1,746
5709990.SQ.FTS.B,
Zero
Cpn,
1/18/24
...
3,442
3,240
5710066.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
6,319
5,917
5710117.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
893
840
5710138.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
6,435
6,028
5710218.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
16,682
15,798
5710359.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
1,396
1,295
5710365.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
24,911
23,199
5710872.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
6,500
6,196
5710907.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
6,686
6,332
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
96
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5711020.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
$
28,901
$
27,069
5711377.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
10,056
9,524
5711436.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
20,004
18,667
5712114.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
18,517
17,285
5712620.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
5,632
5,402
5712738.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
10,991
10,475
5712953.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
5,520
5,196
5712986.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
20,312
19,235
5713245.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
18,891
17,648
5713471.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
4,738
4,442
5713539.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
6,221
5,931
5713622.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
6,383
6,084
5713677.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
11,286
10,587
5713749.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
23,987
22,521
5714008.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
1,315
1,232
5714015.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
3,849
3,610
5714042.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
68,923
64,705
5715146.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
32,288
30,125
5715475.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
2,613
2,448
5715529.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
5,155
4,915
5715602.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
3,827
3,566
5715682.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
6,519
6,189
5715755.SQ.FTS.B,
Zero
Cpn,
1/19/24
...
96,866
92,341
5716285.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
2,592
2,427
5716343.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
22,712
21,263
5716616.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
3,194
2,990
5716653.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
3,006
2,796
5716697.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
2,762
2,617
5716725.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
1,095
1,025
5716754.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
7,440
6,967
5716818.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
6,361
6,064
5716919.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
1,153
1,093
5716922.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
4,595
4,282
5716974.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
27,562
26,087
5717466.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
1,877
1,750
5717551.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
8,248
7,739
5718048.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
2,807
2,636
5718321.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
4,760
4,454
5718445.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
8,089
7,575
5718642.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
6,836
6,572
5718728.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
1,903
1,792
5718737.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
22,078
20,543
5719043.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
2,689
2,518
5719079.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
23,694
22,432
5719364.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
5,960
5,757
5719446.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
12,892
12,103
5719509.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
3,586
3,396
5719535.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
2,157
2,019
5719542.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
9,539
9,093
5719596.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
27,267
25,645
5719792.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
18,877
17,835
5719940.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
2,394
2,228
5719977.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
7,529
7,016
5720047.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
61,985
57,997
5720401.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
22,530
21,333
5720547.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
779
742
5720557.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
1,672
1,586
5720559.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
17,019
15,811
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5720646.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
$
19,363
$
18,696
5720836.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
6,378
5,938
5720892.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
25,976
24,192
5721052.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
1,714
1,601
5721074.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
2,937
2,780
5721102.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
2,504
2,333
5721126.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
21,975
20,622
5721269.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
3,719
3,503
5721283.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
1,102
1,026
5721318.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
16,649
15,589
5721506.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
3,643
3,363
5721553.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
1,253
1,145
5721582.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
2,605
2,439
5721592.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
19,581
18,701
5721726.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
8,230
7,846
5721767.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
2,922
2,719
5721787.SQ.FTS.B,
Zero
Cpn,
1/20/24
...
2,634
2,441
5726426.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
2,189
2,086
5726451.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
7,801
7,302
5726505.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
3,771
3,531
5726534.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
22,135
20,762
5726690.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
1,328
1,240
5726701.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
4,427
4,136
5726717.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
4,196
3,997
5726731.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
3,141
3,021
5726756.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
58,032
53,532
5727179.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
7,669
7,308
5727293.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
3,576
3,349
5727330.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
1,641
1,533
5727358.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
1,808
1,711
5727407.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
12,996
12,143
5727805.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
14,859
14,065
5728073.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
1,439
1,347
5728109.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
3,737
3,537
5728249.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
4,884
4,582
5728359.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
3,920
3,712
5728414.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
16,086
15,017
5728544.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
5,047
4,808
5728577.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
16,761
15,697
5728723.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
10,732
9,951
5728780.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
2,208
2,065
5728796.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
5,491
5,197
5728829.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
2,240
2,121
5728855.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
1,911
1,780
5728868.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
12,218
11,646
5728944.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
17,496
16,127
5729079.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
17,778
16,532
5729187.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
1,985
1,871
5729197.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
2,617
2,436
5729218.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
2,090
1,949
5729248.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
4,999
4,733
5729295.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
2,277
2,121
5729314.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
1,671
1,568
5729334.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
11,129
10,417
5729373.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
2,361
2,227
5729395.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
47,248
44,721
5729724.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
5,813
5,455
5729762.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
11,181
10,586
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
97
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5729811.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
$
2,875
$
2,691
5729861.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
5,208
4,963
5729904.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
1,942
1,818
5729916.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
23,512
22,857
5730120.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
5,411
5,074
5730143.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
7,209
6,743
5730189.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
7,011
6,634
5730233.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
12,965
12,035
5730277.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
2,189
2,067
5730283.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
30,866
29,212
5730415.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
1,541
1,455
5730441.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
22,214
21,031
5730536.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
11,181
10,658
5730592.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
8,329
7,763
5730652.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
36,752
35,391
5730831.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
1,227
1,166
5730836.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
13,434
12,607
5730943.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
3,546
3,378
5730965.SQ.FTS.B,
Zero
Cpn,
1/21/24
...
12,059
11,492
5731025.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
5,323
4,984
5731079.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
2,235
2,121
5731116.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
3,686
3,452
5731161.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
9,626
9,014
5731258.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
2,363
2,219
5731273.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
5,185
4,910
5731303.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
2,458
2,301
5731329.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
25,656
24,070
5731621.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
7,149
6,813
5731709.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
7,015
6,582
5731779.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
41,614
38,961
5732088.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
70,035
65,575
5732602.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
5,644
5,284
5732624.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
17,556
16,436
5732684.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
10,447
9,806
5732911.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
892
842
5732913.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
1,911
1,834
5732996.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
1,649
1,551
5733079.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
1,416
1,325
5733086.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
22,098
21,060
5733214.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
4,332
4,029
5733225.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
4,094
3,890
5733238.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
6,673
6,245
5733254.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
6,116
5,737
5733285.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
1,469
1,379
5733298.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
46,675
43,695
5733437.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
6,555
6,238
5733445.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
9,340
8,901
5733487.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
5,294
4,982
5733503.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
5,728
5,459
5733545.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
2,248
2,104
5733571.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
78,837
73,443
5733955.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
14,562
13,518
5734009.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
2,174
2,046
5734022.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
5,217
4,970
5734048.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
10,954
10,251
5734105.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
11,520
10,791
5734178.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
5,648
5,267
5734218.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
18,038
16,768
Description
Principal
Amount
Value
Block,
Inc.
(continued)
5734350.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
$
223
$
212
5734351.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
13,429
12,830
5734423.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
15,727
15,201
5734518.SQ.FTS.B,
Zero
Cpn,
1/22/24
...
2,856
2,682
5734597.SQ.FTS.B,
Zero
Cpn,
1/23/24
...
2,145
2,008
5734631.SQ.FTS.B,
Zero
Cpn,
1/23/24
...
3,706
3,461
5734652.SQ.FTS.B,
Zero
Cpn,
1/23/24
...
2,540
2,378
5734662.SQ.FTS.B,
Zero
Cpn,
1/23/24
...
5,876
5,561
5734689.SQ.FTS.B,
Zero
Cpn,
1/23/24
...
2,910
2,754
5734707.SQ.FTS.B,
Zero
Cpn,
1/23/24
...
3,729
3,474
5734737.SQ.FTS.B,
Zero
Cpn,
1/23/24
...
1,408
1,321
5734747.SQ.FTS.B,
Zero
Cpn,
1/23/24
...
11,296
10,575
5734829.SQ.FTS.B,
Zero
Cpn,
1/23/24
...
12,804
12,139
5734926.SQ.FTS.B,
Zero
Cpn,
1/23/24
...
8,040
7,662
5734979.SQ.FTS.B,
Zero
Cpn,
1/23/24
...
2,919
2,756
5735001.SQ.FTS.B,
Zero
Cpn,
1/23/24
...
5,800
5,527
5735046.SQ.FTS.B,
Zero
Cpn,
1/23/24
...
5,122
4,848
5735082.SQ.FTS.B,
Zero
Cpn,
1/23/24
...
7,896
7,391
5735142.SQ.FTS.B,
Zero
Cpn,
1/23/24
...
25,028
23,430
5735323.SQ.FTS.B,
Zero
Cpn,
1/24/24
...
3,178
2,969
5735347.SQ.FTS.B,
Zero
Cpn,
1/24/24
...
2,424
2,269
5735367.SQ.FTS.B,
Zero
Cpn,
1/24/24
...
2,152
2,014
5735388.SQ.FTS.B,
Zero
Cpn,
1/24/24
...
2,684
2,507
5735412.SQ.FTS.B,
Zero
Cpn,
1/24/24
...
6,304
5,874
5735461.SQ.FTS.B,
Zero
Cpn,
1/24/24
...
2,303
2,194
5735481.SQ.FTS.B,
Zero
Cpn,
1/24/24
...
3,537
3,300
5735505.SQ.FTS.B,
Zero
Cpn,
1/24/24
...
1,054
995
5735513.SQ.FTS.B,
Zero
Cpn,
1/24/24
...
2,087
1,935
5735526.SQ.FTS.B,
Zero
Cpn,
1/24/24
...
6,099
5,696
5735573.SQ.FTS.B,
Zero
Cpn,
1/24/24
...
13,503
12,669
5735671.SQ.FTS.B,
Zero
Cpn,
1/24/24
...
1,326
1,220
5735678.SQ.FTS.B,
Zero
Cpn,
1/24/24
...
10,803
10,225
5735760.SQ.FTS.B,
Zero
Cpn,
1/24/24
...
3,328
3,140
5735780.SQ.FTS.B,
Zero
Cpn,
1/24/24
...
17,094
16,177
5735914.SQ.FTS.B,
Zero
Cpn,
1/24/24
...
3,370
3,167
5735939.SQ.FTS.B,
Zero
Cpn,
1/24/24
...
4,445
4,208
5735989.SQ.FTS.B,
Zero
Cpn,
1/24/24
...
5,317
5,100
5736169.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
3,511
3,287
5736234.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
7,907
7,420
5736390.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
3,943
3,688
5736459.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
22,836
21,285
5736954.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
33,445
31,277
5737377.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
4,934
4,745
5737408.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
8,816
8,401
5737479.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
4,660
4,411
5737515.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
2,894
2,701
5737550.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
6,987
6,596
5737632.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
9,429
8,904
5737769.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
3,420
3,229
5737812.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
7,473
7,121
5737879.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
4,530
4,241
5737919.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
8,622
8,217
5737982.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
7,063
6,627
5738024.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
9,033
8,508
5738116.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
51,315
48,574
5738461.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
1,457
1,360
5738477.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
13,024
12,194
5738572.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
1,429
1,360
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
98
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Block,
Inc.
(continued)
5738582.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
$
39,530
$
37,007
5738916.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
19,523
17,955
5739120.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
1,984
1,871
5739151.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
19,721
18,456
5739368.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
5,272
5,024
5739412.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
20,866
19,578
5739636.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
1,812
1,697
5739648.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
4,450
4,241
5739685.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
1,579
1,478
5739695.SQ.FTS.B,
Zero
Cpn,
1/25/24
...
6,107
5,819
5739811.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
10,866
10,353
5739956.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
4,739
4,515
5739980.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
9,908
9,434
5740087.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
3,338
3,180
5740146.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
23,260
21,770
5740360.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
22,154
21,163
5740687.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
11,027
10,336
5740872.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
3,226
3,074
5740913.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
7,703
7,340
5741000.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
1,991
1,855
5741029.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
6,720
6,361
5741088.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
5,712
5,491
5741131.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
1,707
1,590
5741148.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
2,369
2,217
5741165.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
4,755
4,479
5741187.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
13,966
13,219
5741303.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
4,757
4,453
5741346.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
1,302
1,219
5741355.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
25,246
23,853
5741476.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
3,131
2,968
5741484.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
7,612
7,109
5741529.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
6,575
6,265
5741564.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
7,905
7,399
5741627.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
3,171
2,968
5741660.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
3,894
3,710
5741682.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
1,932
1,836
5741694.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
7,078
6,626
5741732.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
2,388
2,226
5741761.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
33,513
31,804
5741943.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
21,518
20,143
5742123.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
28,313
26,504
5742285.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
3,981
3,711
5742308.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
56,493
52,874
5742549.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
3,929
3,710
5742565.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
3,801
3,604
5742580.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
46,330
43,466
5742803.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
4,146
3,891
5742838.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
2,605
2,438
5742865.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
1,933
1,792
5742885.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
1,076
1,007
5742890.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
6,720
6,361
5742923.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
12,485
11,662
5742987.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
5,663
5,301
5743017.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
56,738
54,066
5743299.SQ.FTS.B,
Zero
Cpn,
1/26/24
...
28,766
26,928
37,917,076
Description
Principal
Amount
Value
Freedom
Financial
Asset
Management
LLC
APP-11690146.FP.FTS.B,
5.99%,
12/01/23
$
5,377
$
5,433
APP-11695207.FP.FTS.B,
15.49%,
12/12/23
8,439
8,517
APP-12210758.FP.FTS.B,
22.49%,
1/15/24
13,377
13,433
APP-11798810.FP.FTS.B,
5.99%,
1/21/24
.
4,689
4,743
APP-11878331.FP.FTS.B,
5.99%,
1/22/24
.
9,125
9,251
APP-12050449.FP.FTS.B,
5.99%,
1/22/24
.
6,145
6,227
APP-12165611.FP.FTS.B,
20.49%,
1/22/24
9,809
9,890
APP-11694096.FP.FTS.B,
5.99%,
1/30/24
.
5,718
5,803
APP-11723164.FP.FTS.B,
17.99%,
2/01/24
4,796
4,815
APP-11550730.FP.FTS.B,
23.99%,
2/03/24
8,003
8,035
APP-11695208.FP.FTS.B,
5.99%,
2/04/24
.
5,846
5,917
APP-12436440.FP.FTS.B,
18.99%,
2/09/24
6,568
6,613
APP-12150591.FP.FTS.B,
5.99%,
2/28/24
.
6,813
6,903
APP-12139572.FP.FTS.B,
5.99%,
3/01/24
.
8,424
8,534
APP-12139722.FP.FTS.B,
5.99%,
3/02/24
.
8,854
8,969
APP-12050193.FP.FTS.B,
5.99%,
3/06/24
.
9,286
9,412
APP-12173490.FP.FTS.B,
17.99%,
3/08/24
6,201
6,265
APP-12403417.FP.FTS.B,
18.99%,
3/08/24
7,084
7,128
APP-12412711.FP.FTS.B,
5.99%,
3/16/24
.
9,159
9,292
APP-12460422.FP.FTS.B,
16.99%,
3/25/24
7,020
7,133
APP-14865243.FP.FTS.B,
5.99%,
6/10/24
.
10,500
10,673
APP-14828374.FP.FTS.B,
5.99%,
7/29/24
.
8,000
8,160
APP-10161712.FP.FTS.B,
23.99%,
8/15/24
5,713
5,563
APP-10199058.FP.FTS.B,
18.49%,
9/30/24
12,915
–
APP-10876917.FP.FTS.B,
23.99%,
10/19/24
..........................
9,202
9,069
APP-10609876.FP.FTS.B,
25.49%,
10/25/24
..........................
8,372
8,332
APP-10901539.FP.FTS.B,
15.49%,
11/27/24
26,147
26,352
APP-10784743.FP.FTS.B,
23.99%,
11/28/24
11,869
11,829
APP-11694740.FP.FTS.B,
7.49%,
12/15/24
17,796
17,996
APP-11595022.FP.FTS.B,
8.49%,
12/16/24
15,610
15,795
APP-11710009.FP.FTS.B,
18.49%,
12/20/24
29,349
3,418
APP-11694411.FP.FTS.B,
13.99%,
12/21/24
14,896
15,010
APP-11731526.FP.FTS.B,
16.49%,
12/21/24
11,103
11,169
APP-11694509.FP.FTS.B,
9.74%,
12/22/24
13,900
14,067
APP-11736995.FP.FTS.B,
17.99%,
12/22/24
8,722
8,803
APP-11695015.FP.FTS.B,
18.49%,
12/22/24
30,189
30,284
APP-11740367.FP.FTS.B,
18.99%,
12/22/24
9,359
1,931
APP-11395504.FP.FTS.B,
25.49%,
1/08/25
8,641
3,054
APP-12144621.FP.FTS.B,
25.49%,
1/21/25
8,778
8,715
APP-11798754.FP.FTS.B,
6.99%,
1/22/25
.
25,426
25,768
APP-12148090.FP.FTS.B,
9.74%,
1/22/25
.
15,335
15,535
APP-12167100.FP.FTS.B,
17.99%,
1/22/25
8,664
8,713
APP-12173761.FP.FTS.B,
25.49%,
1/22/25
7,907
7,856
APP-12185700.FP.FTS.B,
9.74%,
1/23/25
.
11,852
12,010
APP-12164966.FP.FTS.B,
11.74%,
1/23/25
17,966
18,191
APP-12185297.FP.FTS.B,
15.99%,
1/23/25
15,534
15,708
APP-12179908.FP.FTS.B,
18.99%,
1/23/25
8,681
8,727
APP-12087415.FP.FTS.B,
12.99%,
1/25/25
22,590
22,769
APP-11694335.FP.FTS.B,
11.24%,
1/27/25
8,532
8,657
APP-11924017.FP.FTS.B,
15.99%,
1/28/25
15,766
15,927
APP-11702169.FP.FTS.B,
25.49%,
1/28/25
8,308
8,306
APP-11509368.FP.FTS.B,
14.99%,
1/29/25
21,943
22,160
APP-12365615.FP.FTS.B,
16.99%,
2/01/25
8,855
8,915
APP-12414484.FP.FTS.B,
17.24%,
2/02/25
28,656
28,415
APP-12287483.FP.FTS.B,
12.99%,
2/03/25
20,253
20,291
APP-11733782.FP.FTS.B,
15.74%,
2/03/25
18,423
18,198
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
99
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Freedom
Financial
Asset
Management
LLC
(continued)
APP-11725711.FP.FTS.B,
21.99%,
2/03/25
$
11,645
$
11,463
APP-11694464.FP.FTS.B,
11.49%,
2/04/25
11,270
11,416
APP-12175602.FP.FTS.B,
17.49%,
2/25/25
11,999
12,076
APP-12085226.FP.FTS.B,
23.99%,
2/25/25
12,824
12,771
APP-12213351.FP.FTS.B,
13.24%,
2/26/25
9,453
9,587
APP-12175455.FP.FTS.B,
16.99%,
3/01/25
8,281
8,373
APP-12165485.FP.FTS.B,
18.99%,
3/01/25
13,437
13,409
APP-12141452.FP.FTS.B,
17.49%,
3/04/25
18,744
18,613
APP-12029075.FP.FTS.B,
15.99%,
3/05/25
17,825
17,853
APP-12155870.FP.FTS.B,
15.99%,
3/05/25
16,065
16,252
APP-12173727.FP.FTS.B,
18.49%,
3/05/25
28,259
27,983
APP-12124683.FP.FTS.B,
16.99%,
3/06/25
13,010
12,932
APP-12172939.FP.FTS.B,
9.74%,
3/07/25
.
17,617
17,868
APP-12017283.FP.FTS.B,
14.24%,
3/07/25
30,708
6,338
APP-12142572.FP.FTS.B,
15.24%,
3/07/25
38,008
38,491
APP-10156554.FP.FTS.B,
9.49%,
3/08/25
.
22,501
22,828
APP-12188446.FP.FTS.B,
11.99%,
3/08/25
17,713
17,929
APP-12185763.FP.FTS.B,
12.99%,
3/08/25
22,099
22,216
APP-12184624.FP.FTS.B,
15.74%,
3/08/25
17,297
17,115
APP-12168882.FP.FTS.B,
17.49%,
3/08/25
21,523
21,539
APP-12175546.FP.FTS.B,
17.99%,
3/08/25
14,380
14,391
APP-12031531.FP.FTS.B,
20.99%,
3/08/25
15,359
15,202
APP-12414365.FP.FTS.B,
9.74%,
3/09/25
.
12,469
12,655
APP-12414463.FP.FTS.B,
16.99%,
3/09/25
6,667
6,735
APP-12178610.FP.FTS.B,
23.99%,
3/09/25
11,795
11,881
APP-12139801.FP.FTS.B,
9.49%,
3/11/25
.
19,141
19,433
APP-12426283.FP.FTS.B,
23.74%,
3/15/25
18,511
18,411
APP-12246234.FP.FTS.B,
16.99%,
3/17/25
15,403
15,477
APP-12309616.FP.FTS.B,
13.49%,
3/18/25
11,204
11,359
APP-11853561.FP.FTS.B,
17.99%,
3/18/25
13,434
13,535
APP-12050722.FP.FTS.B,
9.49%,
3/20/25
.
17,822
18,103
APP-12281554.FP.FTS.B,
9.49%,
3/20/25
.
24,298
24,681
APP-12416946.FP.FTS.B,
9.49%,
3/20/25
.
19,369
19,674
APP-12426976.FP.FTS.B,
18.99%,
3/20/25
13,919
13,956
APP-12413819.FP.FTS.B,
16.99%,
3/21/25
10,059
10,146
APP-12106203.FP.FTS.B,
9.74%,
3/22/25
.
17,111
17,390
APP-12270743.FP.FTS.B,
16.49%,
3/22/25
13,832
13,981
APP-12381356.FP.FTS.B,
9.74%,
3/24/25
.
13,916
14,151
APP-12414413.FP.FTS.B,
17.99%,
3/25/25
14,669
14,829
APP-15099844.FP.FTS.B,
19.99%,
7/15/25
15,515
15,710
APP-15072875.FP.FTS.B,
15.49%,
7/18/25
17,424
17,710
APP-15063599.FP.FTS.B,
8.24%,
7/23/25
.
24,923
25,408
APP-15073908.FP.FTS.B,
22.74%,
7/25/25
17,474
17,780
APP-15066363.FP.FTS.B,
10.49%,
7/26/25
25,000
25,521
APP-15045529.FP.FTS.B,
25.49%,
7/26/25
14,840
15,117
APP-15052562.FP.FTS.B,
10.24%,
7/29/25
32,749
33,471
APP-15077310.FP.FTS.B,
25.49%,
7/29/25
11,000
11,238
APP-10157776.FP.FTS.B,
22.49%,
8/13/25
32,277
32,297
APP-10564744.FP.FTS.B,
19.49%,
9/15/25
7,652
–
APP-10861885.FP.FTS.B,
15.49%,
10/17/25
..........................
17,356
17,565
APP-10833798.FP.FTS.B,
15.99%,
10/18/25
..........................
17,134
17,304
APP-10463967.FP.FTS.B,
18.99%,
10/23/25
..........................
20,269
20,351
APP-10612921.FP.FTS.B,
18.49%,
11/07/25
9,772
1,910
APP-11361622.FP.FTS.B,
12.49%,
11/15/25
37,037
37,430
APP-11579289.FP.FTS.B,
10.99%,
12/05/25
11,398
11,516
Description
Principal
Amount
Value
Freedom
Financial
Asset
Management
LLC
(continued)
APP-11701123.FP.FTS.B,
10.99%,
12/14/25
$
17,146
$
17,368
APP-11739697.FP.FTS.B,
15.49%,
12/15/25
19,315
19,474
APP-11678649.FP.FTS.B,
18.49%,
12/17/25
17,686
17,690
APP-11737115.FP.FTS.B,
12.49%,
12/18/25
13,487
13,669
APP-11731020.FP.FTS.B,
19.99%,
12/20/25
28,394
28,506
APP-11693902.FP.FTS.B,
15.24%,
12/21/25
27,950
28,252
APP-11712135.FP.FTS.B,
13.24%,
12/22/25
12,383
12,567
APP-11531737.FP.FTS.B,
13.99%,
12/22/25
11,506
11,661
APP-11442801.FP.FTS.B,
16.49%,
12/22/25
16,934
17,107
APP-10314724.FP.FTS.B,
11.74%,
1/08/26
28,855
29,234
APP-12165054.FP.FTS.B,
10.24%,
1/14/26
16,946
17,158
APP-12174416.FP.FTS.B,
10.24%,
1/22/26
18,350
18,613
APP-12171910.FP.FTS.B,
12.49%,
1/22/26
14,209
14,408
APP-11799040.FP.FTS.B,
15.74%,
1/22/26
37,076
37,338
APP-12199831.FP.FTS.B,
16.99%,
1/22/26
13,771
13,912
APP-12006366.FP.FTS.B,
20.99%,
1/22/26
9,134
9,194
APP-11687753.FP.FTS.B,
13.49%,
1/25/26
20,121
20,419
APP-11694677.FP.FTS.B,
10.24%,
1/28/26
13,959
14,192
APP-11657555.FP.FTS.B,
18.49%,
1/28/26
43,335
43,766
APP-11695130.FP.FTS.B,
16.99%,
2/01/26
12,444
12,540
APP-12287012.FP.FTS.B,
17.49%,
2/01/26
12,761
12,738
APP-12458983.FP.FTS.B,
15.99%,
2/02/26
11,030
11,138
APP-11579337.FP.FTS.B,
10.99%,
2/04/26
23,694
24,071
APP-11595092.FP.FTS.B,
19.49%,
2/05/26
36,811
36,977
APP-12168235.FP.FTS.B,
19.49%,
2/23/26
8,414
8,488
APP-12139578.FP.FTS.B,
15.24%,
2/24/26
10,581
10,737
APP-12119897.FP.FTS.B,
10.24%,
2/28/26
19,994
20,315
APP-12174351.FP.FTS.B,
15.99%,
3/01/26
18,513
18,542
APP-12176488.FP.FTS.B,
14.99%,
3/04/26
18,496
18,756
APP-12033031.FP.FTS.B,
13.99%,
3/05/26
6,929
7,042
APP-12050179.FP.FTS.B,
16.49%,
3/07/26
15,605
15,849
APP-12128364.FP.FTS.B,
13.24%,
3/08/26
26,000
26,117
APP-12463162.FP.FTS.B,
18.49%,
3/10/26
14,826
14,928
APP-12209184.FP.FTS.B,
19.49%,
3/11/26
13,625
13,678
APP-12270284.FP.FTS.B,
9.99%,
3/14/26
.
34,924
35,478
APP-12287014.FP.FTS.B,
16.99%,
3/15/26
14,502
14,660
APP-12466087.FP.FTS.B,
18.99%,
3/15/26
12,112
12,209
APP-12397804.FP.FTS.B,
16.99%,
3/16/26
11,685
11,817
APP-12400371.FP.FTS.B,
16.99%,
3/16/26
20,848
21,049
APP-12372783.FP.FTS.B,
14.99%,
3/17/26
20,270
20,483
APP-12406010.FP.FTS.B,
9.99%,
3/18/26
.
22,898
23,286
APP-12431691.FP.FTS.B,
9.49%,
3/20/26
.
27,906
28,392
APP-12286988.FP.FTS.B,
10.99%,
3/21/26
45,723
46,538
APP-12343526.FP.FTS.B,
16.99%,
3/21/26
23,786
24,068
APP-12463857.FP.FTS.B,
17.49%,
3/21/26
9,462
9,642
APP-12448349.FP.FTS.B,
14.99%,
3/23/26
20,378
20,629
APP-12414671.FP.FTS.B,
15.99%,
3/23/26
21,810
22,132
APP-12431061.FP.FTS.B,
10.99%,
3/24/26
45,532
46,384
APP-12443256.FP.FTS.B,
16.74%,
3/24/26
35,908
36,387
APP-12414591.FP.FTS.B,
19.49%,
3/24/26
8,978
9,109
APP-12459668.FP.FTS.B,
14.99%,
3/25/26
17,423
17,686
APP-12463779.FP.FTS.B,
15.99%,
3/25/26
12,904
13,156
APP-12464227.FP.FTS.B,
16.24%,
3/25/26
29,491
29,753
APP-12414582.FP.FTS.B,
18.49%,
3/25/26
18,583
18,857
APP-15072534.FP.FTS.B,
20.49%,
7/13/26
11,827
11,944
APP-15117837.FP.FTS.B,
22.24%,
7/15/26
14,809
14,999
APP-15068337.FP.FTS.B,
8.99%,
7/20/26
.
17,567
17,905
APP-14891119.FP.FTS.B,
18.74%,
7/24/26
49,539
50,529
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
100
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Freedom
Financial
Asset
Management
LLC
(continued)
APP-15053612.FP.FTS.B,
13.99%,
7/26/26
$
11,549
$
11,803
APP-15053337.FP.FTS.B,
17.99%,
7/26/26
11,952
12,192
APP-15004884.FP.FTS.B,
15.99%,
7/27/26
26,744
27,350
APP-15119191.FP.FTS.B,
18.49%,
7/28/26
6,515
6,640
APP-14912105.FP.FTS.B,
20.99%,
7/29/26
19,000
19,373
APP-10174955.FP.FTS.B,
19.49%,
8/15/26
25,581
5,355
APP-10573456.FP.FTS.B,
17.49%,
9/10/26
13,917
13,917
APP-10550239.FP.FTS.B,
23.49%,
9/18/26
19,723
–
APP-10406165.FP.FTS.B,
18.99%,
9/20/26
17,063
17,121
APP-09994260.FP.FTS.B,
17.49%,
9/28/26
29,268
29,705
APP-10843011.FP.FTS.B,
21.49%,
10/20/26
46,937
15,088
APP-10590417.FP.FTS.B,
17.99%,
10/23/26
..........................
18,770
18,872
APP-10618590.FP.FTS.B,
20.49%,
10/26/26
..........................
14,517
14,379
APP-10516826.FP.FTS.B,
18.99%,
11/01/26
20,000
–
APP-11021919.FP.FTS.B,
17.99%,
11/03/26
16,442
16,336
APP-10582732.FP.FTS.B,
21.99%,
11/04/26
8,141
4,821
APP-10609892.FP.FTS.B,
17.99%,
11/05/26
9,746
–
APP-10541760.FP.FTS.B,
17.49%,
11/06/26
20,000
–
APP-11341867.FP.FTS.B,
14.99%,
11/20/26
23,247
23,437
APP-11400385.FP.FTS.B,
14.49%,
11/26/26
10,830
10,968
APP-11381442.FP.FTS.B,
20.49%,
11/26/26
22,895
22,922
APP-10762380.FP.FTS.B,
11.99%,
11/29/26
8,000
4,394
APP-10850914.FP.FTS.B,
14.24%,
11/29/26
22,153
11,318
APP-10801509.FP.FTS.B,
19.49%,
11/29/26
24,823
14,554
APP-11744624.FP.FTS.B,
13.24%,
12/09/26
21,815
22,002
APP-11579549.FP.FTS.B,
13.49%,
12/15/26
42,751
43,207
APP-11695023.FP.FTS.B,
13.49%,
12/15/26
15,402
15,567
APP-11673143.FP.FTS.B,
19.99%,
12/15/26
10,983
10,981
APP-11700609.FP.FTS.B,
19.99%,
12/15/26
46,146
46,138
APP-11737058.FP.FTS.B,
22.49%,
12/15/26
9,083
9,031
APP-11671786.FP.FTS.B,
22.49%,
12/16/26
8,255
8,214
APP-11604288.FP.FTS.B,
15.49%,
12/17/26
15,629
3,125
APP-11736851.FP.FTS.B,
19.99%,
12/17/26
12,938
12,924
APP-11679563.FP.FTS.B,
17.99%,
12/18/26
28,162
28,374
APP-11693245.FP.FTS.B,
18.49%,
12/18/26
19,181
19,126
APP-11719573.FP.FTS.B,
19.99%,
12/18/26
12,022
11,984
APP-11665810.FP.FTS.B,
20.99%,
12/18/26
31,035
30,931
APP-11579432.FP.FTS.B,
14.99%,
12/19/26
14,770
14,926
APP-11022370.FP.FTS.B,
16.49%,
12/20/26
10,084
10,232
APP-11733566.FP.FTS.B,
19.24%,
12/20/26
19,828
19,805
APP-11740523.FP.FTS.B,
10.99%,
12/21/26
22,350
22,662
APP-11724221.FP.FTS.B,
11.24%,
12/21/26
45,472
46,105
APP-11443178.FP.FTS.B,
11.74%,
12/21/26
12,746
12,911
APP-11694985.FP.FTS.B,
12.99%,
12/21/26
12,624
12,787
APP-11695114.FP.FTS.B,
17.49%,
12/21/26
14,311
14,408
APP-11730592.FP.FTS.B,
17.99%,
12/21/26
38,761
38,896
APP-11723942.FP.FTS.B,
19.49%,
12/21/26
44,246
44,306
APP-11726144.FP.FTS.B,
20.49%,
12/21/26
28,557
28,642
APP-11553389.FP.FTS.B,
12.24%,
12/22/26
18,526
18,779
APP-11563018.FP.FTS.B,
18.99%,
12/22/26
9,130
9,054
APP-11731905.FP.FTS.B,
18.99%,
12/22/26
18,505
18,578
APP-11735206.FP.FTS.B,
19.49%,
12/22/26
20,007
20,045
APP-11730543.FP.FTS.B,
19.99%,
12/22/26
13,470
13,470
APP-11733931.FP.FTS.B,
19.99%,
12/22/26
14,988
5,156
APP-11186111.FP.FTS.B,
16.99%,
12/28/26
16,264
16,339
APP-11401848.FP.FTS.B,
15.49%,
1/05/27
11,977
11,969
Description
Principal
Amount
Value
Freedom
Financial
Asset
Management
LLC
(continued)
APP-12116526.FP.FTS.B,
18.99%,
1/05/27
$
13,881
$
13,787
APP-11146646.FP.FTS.B,
12.74%,
1/07/27
29,863
30,231
APP-11411446.FP.FTS.B,
17.99%,
1/09/27
46,544
47,073
APP-11208788.FP.FTS.B,
20.99%,
1/09/27
15,820
15,636
APP-11397497.FP.FTS.B,
11.99%,
1/10/27
21,700
22,069
APP-11410185.FP.FTS.B,
22.49%,
1/10/27
27,334
27,180
APP-11413059.FP.FTS.B,
13.74%,
1/11/27
12,087
12,252
APP-11946615.FP.FTS.B,
16.49%,
1/11/27
20,715
20,881
APP-12090452.FP.FTS.B,
16.99%,
1/15/27
18,567
18,586
APP-12139980.FP.FTS.B,
19.99%,
1/15/27
6,992
6,980
APP-12032875.FP.FTS.B,
11.24%,
1/16/27
23,278
23,530
APP-12094650.FP.FTS.B,
18.99%,
1/19/27
7,466
7,484
APP-12073890.FP.FTS.B,
10.99%,
1/20/27
20,263
20,527
APP-12213292.FP.FTS.B,
12.99%,
1/20/27
13,143
13,284
APP-12040387.FP.FTS.B,
18.49%,
1/20/27
13,284
1,350
APP-12132313.FP.FTS.B,
11.24%,
1/21/27
11,984
12,143
APP-12137436.FP.FTS.B,
16.99%,
1/21/27
27,802
27,869
APP-12173162.FP.FTS.B,
17.49%,
1/21/27
15,997
16,069
APP-12138638.FP.FTS.B,
19.99%,
1/21/27
11,165
11,129
APP-11798808.FP.FTS.B,
10.99%,
1/22/27
18,451
18,702
APP-12172519.FP.FTS.B,
11.24%,
1/22/27
13,832
14,020
APP-12154405.FP.FTS.B,
14.49%,
1/22/27
13,916
14,066
APP-12161019.FP.FTS.B,
20.49%,
1/22/27
9,864
9,842
APP-12122672.FP.FTS.B,
22.99%,
1/22/27
15,110
15,052
APP-12169743.FP.FTS.B,
24.24%,
1/22/27
27,710
27,564
APP-12186510.FP.FTS.B,
9.74%,
1/23/27
.
39,296
39,880
APP-12107351.FP.FTS.B,
16.49%,
1/23/27
20,483
20,568
APP-12089965.FP.FTS.B,
8.99%,
1/25/27
.
32,149
32,623
APP-12105986.FP.FTS.B,
10.99%,
1/25/27
31,709
32,175
APP-11732587.FP.FTS.B,
23.49%,
1/25/27
9,356
9,354
APP-12209707.FP.FTS.B,
25.49%,
1/25/27
10,527
10,510
APP-11595106.FP.FTS.B,
13.49%,
1/26/27
12,977
13,167
APP-11579435.FP.FTS.B,
15.49%,
1/28/27
17,856
18,021
APP-11694310.FP.FTS.B,
16.74%,
1/28/27
41,710
42,311
APP-11739118.FP.FTS.B,
16.99%,
1/28/27
14,793
14,895
APP-11595260.FP.FTS.B,
18.99%,
1/29/27
13,796
13,907
APP-11588109.FP.FTS.B,
20.49%,
1/30/27
23,602
23,747
APP-11697560.FP.FTS.B,
12.49%,
1/31/27
37,917
38,564
APP-12414657.FP.FTS.B,
10.99%,
2/01/27
33,887
34,276
APP-12462065.FP.FTS.B,
17.74%,
2/01/27
36,754
36,402
APP-12459489.FP.FTS.B,
18.24%,
2/01/27
37,679
37,547
APP-11711469.FP.FTS.B,
19.99%,
2/01/27
15,569
15,507
APP-11705115.FP.FTS.B,
21.49%,
2/01/27
47,318
46,932
APP-11709913.FP.FTS.B,
21.49%,
2/02/27
47,773
47,685
APP-12408607.FP.FTS.B,
18.49%,
2/03/27
15,384
15,230
APP-11732543.FP.FTS.B,
20.99%,
2/03/27
13,935
13,795
APP-11694211.FP.FTS.B,
11.99%,
2/04/27
46,782
47,559
APP-11724908.FP.FTS.B,
12.74%,
2/04/27
38,847
39,378
APP-11709701.FP.FTS.B,
16.49%,
2/04/27
14,220
14,379
APP-11712504.FP.FTS.B,
17.99%,
2/04/27
9,414
9,534
APP-11725393.FP.FTS.B,
17.99%,
2/04/27
47,068
47,065
APP-11731565.FP.FTS.B,
18.99%,
2/04/27
47,169
47,303
APP-11695149.FP.FTS.B,
19.49%,
2/04/27
20,517
20,456
APP-11732774.FP.FTS.B,
19.49%,
2/04/27
11,333
11,299
APP-11694359.FP.FTS.B,
19.99%,
2/04/27
10,713
10,718
APP-11660434.FP.FTS.B,
20.49%,
2/04/27
27,239
27,164
APP-11694079.FP.FTS.B,
10.99%,
2/05/27
20,416
20,725
APP-11722179.FP.FTS.B,
11.99%,
2/05/27
26,012
26,413
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
101
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Freedom
Financial
Asset
Management
LLC
(continued)
APP-11740935.FP.FTS.B,
13.99%,
2/05/27
$
46,670
$
47,343
APP-12420689.FP.FTS.B,
14.49%,
2/05/27
12,102
12,207
APP-11608429.FP.FTS.B,
17.49%,
2/05/27
37,634
38,128
APP-11744076.FP.FTS.B,
17.49%,
2/05/27
21,721
21,826
APP-09759707.FP.FTS.B,
18.99%,
2/05/27
7,080
7,103
APP-11741297.FP.FTS.B,
19.24%,
2/05/27
19,834
19,655
APP-11724087.FP.FTS.B,
19.99%,
2/05/27
9,460
9,438
APP-11742772.FP.FTS.B,
19.99%,
2/05/27
15,026
14,993
APP-11742867.FP.FTS.B,
23.24%,
2/05/27
19,046
18,866
APP-12337990.FP.FTS.B,
16.49%,
2/07/27
7,543
7,628
APP-11738196.FP.FTS.B,
21.99%,
2/15/27
10,468
10,509
APP-12029572.FP.FTS.B,
16.99%,
2/24/27
17,794
17,863
APP-12033253.FP.FTS.B,
17.99%,
2/24/27
13,389
13,391
APP-12017176.FP.FTS.B,
18.24%,
2/24/27
33,936
34,062
APP-12176796.FP.FTS.B,
8.99%,
2/25/27
.
25,696
26,065
APP-12096330.FP.FTS.B,
17.24%,
2/25/27
34,362
34,564
APP-12159528.FP.FTS.B,
18.99%,
2/28/27
14,075
14,163
APP-12050224.FP.FTS.B,
11.74%,
3/01/27
39,751
40,316
APP-12156019.FP.FTS.B,
13.24%,
3/01/27
30,139
30,520
APP-12168636.FP.FTS.B,
13.24%,
3/01/27
18,835
19,073
APP-12210481.FP.FTS.B,
15.49%,
3/01/27
23,776
23,821
APP-12171147.FP.FTS.B,
16.24%,
3/01/27
28,466
28,428
APP-12208752.FP.FTS.B,
16.49%,
3/01/27
21,807
6,181
APP-12211243.FP.FTS.B,
17.24%,
3/01/27
34,336
34,397
APP-12107891.FP.FTS.B,
17.99%,
3/01/27
14,991
14,925
APP-12175594.FP.FTS.B,
18.99%,
3/01/27
13,308
13,302
APP-12208717.FP.FTS.B,
21.74%,
3/01/27
23,798
23,571
APP-12150597.FP.FTS.B,
25.49%,
3/01/27
10,111
9,995
APP-12176496.FP.FTS.B,
18.49%,
3/02/27
20,668
20,658
APP-12158633.FP.FTS.B,
23.24%,
3/02/27
19,164
18,941
APP-12005996.FP.FTS.B,
15.49%,
3/03/27
11,357
11,373
APP-12185324.FP.FTS.B,
19.99%,
3/04/27
12,590
12,511
APP-12097524.FP.FTS.B,
21.24%,
3/04/27
19,128
18,955
APP-11708192.FP.FTS.B,
25.49%,
3/04/27
10,814
10,727
APP-12105218.FP.FTS.B,
10.99%,
3/05/27
23,647
24,032
APP-12101962.FP.FTS.B,
13.49%,
3/05/27
14,155
14,350
APP-12214905.FP.FTS.B,
16.49%,
3/05/27
11,383
11,526
APP-12159801.FP.FTS.B,
16.99%,
3/05/27
26,393
26,498
APP-12123398.FP.FTS.B,
19.99%,
3/05/27
19,101
18,975
APP-12164096.FP.FTS.B,
21.49%,
3/05/27
13,732
13,617
APP-12133804.FP.FTS.B,
10.99%,
3/06/27
20,666
20,978
APP-12168034.FP.FTS.B,
18.99%,
3/06/27
14,976
14,990
APP-12172482.FP.FTS.B,
20.49%,
3/06/27
27,404
27,686
APP-12050159.FP.FTS.B,
13.24%,
3/07/27
32,850
33,336
APP-12124756.FP.FTS.B,
13.24%,
3/07/27
4,857
4,860
APP-12032991.FP.FTS.B,
14.49%,
3/07/27
22,229
22,515
APP-12171245.FP.FTS.B,
16.99%,
3/07/27
27,760
27,790
APP-12125835.FP.FTS.B,
19.99%,
3/07/27
13,513
13,581
APP-12168830.FP.FTS.B,
22.49%,
3/07/27
9,845
9,762
APP-12140862.FP.FTS.B,
8.99%,
3/08/27
.
24,335
24,683
APP-12164888.FP.FTS.B,
8.99%,
3/08/27
.
31,818
32,300
APP-12105970.FP.FTS.B,
10.99%,
3/08/27
21,305
21,645
APP-12155604.FP.FTS.B,
11.24%,
3/08/27
14,843
15,079
APP-12097459.FP.FTS.B,
13.24%,
3/08/27
23,646
23,996
APP-12106008.FP.FTS.B,
13.49%,
3/08/27
14,928
15,154
APP-12050743.FP.FTS.B,
14.99%,
3/08/27
16,665
16,881
APP-12150738.FP.FTS.B,
16.74%,
3/08/27
41,297
41,817
APP-12167178.FP.FTS.B,
17.49%,
3/08/27
24,170
24,269
Description
Principal
Amount
Value
Freedom
Financial
Asset
Management
LLC
(continued)
APP-12188890.FP.FTS.B,
20.49%,
3/08/27
$
17,992
$
17,924
APP-12432804.FP.FTS.B,
13.24%,
3/09/27
34,463
34,886
APP-12366828.FP.FTS.B,
16.99%,
3/09/27
15,302
15,457
APP-12427802.FP.FTS.B,
18.24%,
3/09/27
47,198
47,078
APP-12427999.FP.FTS.B,
18.99%,
3/09/27
24,724
24,728
APP-12176276.FP.FTS.B,
19.99%,
3/09/27
18,291
18,358
APP-11965580.FP.FTS.B,
20.49%,
3/09/27
26,334
26,251
APP-11508449.FP.FTS.B,
8.49%,
3/10/27
.
28,947
29,345
APP-12216897.FP.FTS.B,
10.99%,
3/10/27
37,437
37,954
APP-12448900.FP.FTS.B,
13.24%,
3/10/27
29,667
30,041
APP-12450922.FP.FTS.B,
15.24%,
3/10/27
34,305
34,401
APP-12451319.FP.FTS.B,
17.49%,
3/10/27
11,348
11,327
APP-12203395.FP.FTS.B,
22.49%,
3/10/27
10,627
10,607
APP-12451332.FP.FTS.B,
22.99%,
3/10/27
14,768
14,645
APP-12199670.FP.FTS.B,
10.99%,
3/11/27
32,088
32,526
APP-12459432.FP.FTS.B,
13.24%,
3/11/27
23,495
23,807
APP-12464629.FP.FTS.B,
16.49%,
3/11/27
14,200
14,398
APP-12459441.FP.FTS.B,
17.49%,
3/11/27
16,085
16,152
APP-12210087.FP.FTS.B,
18.74%,
3/11/27
47,653
47,861
APP-12212610.FP.FTS.B,
18.99%,
3/11/27
9,182
9,245
APP-12459768.FP.FTS.B,
19.74%,
3/11/27
33,049
33,058
APP-12071137.FP.FTS.B,
19.99%,
3/11/27
26,083
26,132
APP-12460903.FP.FTS.B,
10.99%,
3/15/27
37,487
38,069
APP-12467297.FP.FTS.B,
13.24%,
3/15/27
29,707
30,145
APP-12442169.FP.FTS.B,
14.49%,
3/15/27
19,868
20,130
APP-12291770.FP.FTS.B,
16.49%,
3/15/27
22,292
6,411
APP-12420649.FP.FTS.B,
16.74%,
3/15/27
40,452
40,998
APP-12422367.FP.FTS.B,
18.49%,
3/15/27
11,333
11,367
APP-12379303.FP.FTS.B,
13.24%,
3/16/27
22,742
23,085
APP-12345397.FP.FTS.B,
19.74%,
3/16/27
38,091
38,071
APP-12196952.FP.FTS.B,
19.99%,
3/16/27
15,040
15,033
APP-12407602.FP.FTS.B,
19.99%,
3/16/27
17,148
17,195
APP-12408935.FP.FTS.B,
19.99%,
3/17/27
13,345
13,347
APP-12433554.FP.FTS.B,
25.49%,
3/17/27
9,615
9,600
APP-12462116.FP.FTS.B,
17.49%,
3/18/27
27,547
27,758
APP-11948900.FP.FTS.B,
17.74%,
3/18/27
41,807
42,129
APP-12418630.FP.FTS.B,
17.99%,
3/18/27
19,962
19,968
APP-12433361.FP.FTS.B,
18.49%,
3/18/27
17,886
17,893
APP-12461150.FP.FTS.B,
18.49%,
3/18/27
17,133
17,139
APP-12421799.FP.FTS.B,
19.74%,
3/18/27
29,302
29,408
APP-12244962.FP.FTS.B,
19.99%,
3/18/27
9,538
9,576
APP-12463831.FP.FTS.B,
19.99%,
3/18/27
9,512
9,570
APP-12369379.FP.FTS.B,
13.24%,
3/19/27
19,800
20,119
APP-12357813.FP.FTS.B,
10.99%,
3/20/27
30,049
30,561
APP-12238970.FP.FTS.B,
11.24%,
3/20/27
12,218
12,424
APP-12287686.FP.FTS.B,
11.24%,
3/20/27
22,556
22,910
APP-12422648.FP.FTS.B,
13.24%,
3/20/27
21,845
22,205
APP-12380981.FP.FTS.B,
13.74%,
3/20/27
10,366
10,547
APP-12392789.FP.FTS.B,
18.99%,
3/20/27
17,160
17,283
APP-12230901.FP.FTS.B,
20.24%,
3/20/27
47,769
48,015
APP-12412709.FP.FTS.B,
20.24%,
3/20/27
45,257
45,490
APP-12424835.FP.FTS.B,
23.99%,
3/20/27
31,246
31,256
APP-12459776.FP.FTS.B,
10.99%,
3/21/27
31,730
32,279
APP-12287335.FP.FTS.B,
13.24%,
3/21/27
19,871
20,200
APP-12402614.FP.FTS.B,
13.74%,
3/21/27
24,902
25,336
APP-12416550.FP.FTS.B,
19.49%,
3/21/27
15,787
1,713
APP-12450320.FP.FTS.B,
19.99%,
3/21/27
13,378
13,411
APP-12415203.FP.FTS.B,
21.24%,
3/21/27
22,786
22,847
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
102
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Freedom
Financial
Asset
Management
LLC
(continued)
APP-12345892.FP.FTS.B,
13.49%,
3/22/27
$
15,357
$
15,609
APP-11904597.FP.FTS.B,
14.74%,
3/22/27
30,035
30,297
APP-12345261.FP.FTS.B,
15.49%,
3/22/27
23,241
23,436
APP-12443158.FP.FTS.B,
17.49%,
3/22/27
11,421
11,483
APP-12453912.FP.FTS.B,
19.74%,
3/22/27
39,033
13,004
APP-12463880.FP.FTS.B,
19.74%,
3/22/27
39,055
13,004
APP-12402250.FP.FTS.B,
19.99%,
3/22/27
24,411
24,603
APP-12446716.FP.FTS.B,
22.49%,
3/22/27
8,836
8,870
APP-12270745.FP.FTS.B,
17.74%,
3/23/27
36,573
36,792
APP-12429877.FP.FTS.B,
19.74%,
3/23/27
29,206
29,544
APP-12435676.FP.FTS.B,
20.49%,
3/23/27
38,305
38,393
APP-12456449.FP.FTS.B,
23.49%,
3/23/27
9,656
9,702
APP-12414131.FP.FTS.B,
10.99%,
3/24/27
19,641
19,998
APP-12420863.FP.FTS.B,
17.49%,
3/24/27
18,239
18,433
APP-12463499.FP.FTS.B,
17.49%,
3/24/27
23,139
23,424
APP-12468743.FP.FTS.B,
18.24%,
3/24/27
30,534
30,810
APP-12468934.FP.FTS.B,
19.99%,
3/24/27
9,595
9,689
APP-12408200.FP.FTS.B,
21.74%,
3/24/27
25,163
25,221
APP-12468566.FP.FTS.B,
19.74%,
3/25/27
29,660
30,039
APP-11872544.FP.FTS.B,
19.99%,
3/25/27
13,123
13,187
APP-12173877.FP.FTS.B,
25.49%,
4/07/27
9,565
9,517
APP-12171005.FP.FTS.B,
23.99%,
4/08/27
30,522
30,334
APP-12185506.FP.FTS.B,
25.49%,
4/09/27
9,939
6,394
APP-14835801.FP.FTS.B,
11.24%,
6/05/27
30,010
30,431
APP-15016056.FP.FTS.B,
19.24%,
6/06/27
34,493
34,719
APP-14953646.FP.FTS.B,
24.24%,
6/06/27
40,217
40,268
APP-15030908.FP.FTS.B,
16.49%,
6/12/27
16,797
16,982
APP-15007182.FP.FTS.B,
16.99%,
7/11/27
11,359
11,517
APP-15105817.FP.FTS.B,
11.74%,
7/15/27
21,733
22,122
APP-15110260.FP.FTS.B,
13.99%,
7/15/27
31,636
32,191
APP-14523455.FP.FTS.B,
17.24%,
7/15/27
39,032
39,597
APP-15068003.FP.FTS.B,
17.74%,
7/15/27
32,338
32,824
APP-15113452.FP.FTS.B,
18.49%,
7/15/27
12,772
12,963
APP-15103060.FP.FTS.B,
19.99%,
7/15/27
15,640
15,867
APP-15042778.FP.FTS.B,
20.99%,
7/15/27
22,293
22,601
APP-15066730.FP.FTS.B,
20.99%,
7/15/27
14,267
14,452
APP-15072603.FP.FTS.B,
21.24%,
7/15/27
47,494
48,109
APP-15031339.FP.FTS.B,
24.74%,
7/15/27
18,348
18,572
APP-14544639.FP.FTS.B,
11.99%,
7/21/27
14,849
15,144
APP-15071265.FP.FTS.B,
12.49%,
7/26/27
49,594
50,672
APP-15072881.FP.FTS.B,
17.49%,
7/26/27
14,925
15,261
APP-15066733.FP.FTS.B,
18.99%,
7/26/27
14,057
14,325
APP-15119411.FP.FTS.B,
9.74%,
7/28/27
.
23,280
23,778
APP-15112623.FP.FTS.B,
13.74%,
7/28/27
11,899
12,166
APP-15122204.FP.FTS.B,
20.74%,
7/28/27
11,977
12,222
APP-15116487.FP.FTS.B,
21.49%,
7/28/27
17,026
17,386
APP-14371097.FP.FTS.B,
14.74%,
7/29/27
50,000
51,175
APP-15106325.FP.FTS.B,
23.24%,
8/28/27
18,993
19,400
APP-15098807.FP.FTS.B,
26.99%,
8/28/27
11,700
12,149
APP-15124536.FP.FTS.B,
22.99%,
8/29/27
11,000
11,213
8,688,575
LendingClub
Corp.
-
LCX
158826233.LC.FTS.B,
15.24%,
9/16/22
...
1,407
1,407
157785314.LC.FTS.B,
14.3%,
9/26/22
...
337
341
161875960.LC.FTS.B,
14.3%,
11/14/22
...
4,665
4,682
162075372.LC.FTS.B,
Zero
Cpn,
11/19/22
5,972
576
162345533.LC.FTS.B,
7.02%,
11/26/22
...
4,643
4,615
Description
Principal
Amount
Value
LendingClub
Corp.
-
LCX
(continued)
162683524.LC.FTS.B,
23.05%,
12/03/22
..
$
5,571
$
5,614
162951198.LC.FTS.B,
15.24%,
12/13/22
..
12,014
11,622
163452323.LC.FTS.B,
6.46%,
12/17/22
...
1,507
1,500
162484042.LC.FTS.B,
23.05%,
12/20/22
..
222
219
163306459.LC.FTS.B,
8.81%,
12/23/22
...
5,611
5,568
163655887.LC.FTS.B,
8.81%,
12/23/22
...
6,119
6,089
163925598.LC.FTS.B,
Zero
Cpn,
12/27/22
7,843
767
163921952.LC.FTS.B,
13.08%,
12/27/22
..
4,626
538
163941621.LC.FTS.B,
20.55%,
12/27/22
..
7,860
1,447
163868384.LC.FTS.B,
23.05%,
12/27/22
..
1,830
1,850
163869594.LC.FTS.B,
25.65%,
12/27/22
..
3,621
3,590
163871880.LC.FTS.B,
25.65%,
12/27/22
..
4,835
4,883
163925247.LC.FTS.B,
25.65%,
12/27/22
..
3,616
3,643
163150963.LC.FTS.B,
20.55%,
12/30/22
..
3,721
3,654
164015868.LC.FTS.B,
23.05%,
12/30/22
..
652
648
164046739.LC.FTS.B,
23.05%,
12/30/22
..
331
331
164077353.LC.FTS.B,
15.24%,
12/31/22
..
5,581
5,519
163637444.LC.FTS.B,
20.55%,
12/31/22
..
5,196
5,161
164071817.LC.FTS.B,
10.33%,
1/03/23
...
944
933
164643957.LC.FTS.B,
6.46%,
1/10/23
...
676
671
164734842.LC.FTS.B,
6.46%,
1/14/23
...
7,216
7,154
164753318.LC.FTS.B,
7.56%,
1/14/23
...
2,741
2,721
164807045.LC.FTS.B,
11.71%,
1/14/23
...
2,254
1,823
164808805.LC.FTS.B,
13.08%,
1/14/23
...
2,339
2,316
165032371.LC.FTS.B,
7.56%,
1/21/23
...
9,686
1,796
164689412.LC.FTS.B,
11.71%,
1/21/23
...
1,535
1,521
165466706.LC.FTS.B,
7.56%,
1/24/23
...
2,309
2,290
165386603.LC.FTS.B,
8.19%,
1/24/23
...
7,365
7,313
165504889.LC.FTS.B,
8.81%,
1/24/23
...
556
553
165073250.LC.FTS.B,
12.4%,
1/24/23
...
3,873
3,830
163866777.LC.FTS.B,
14.3%,
1/24/23
...
5,837
5,744
163911666.LC.FTS.B,
15.24%,
1/24/23
...
7,442
7,372
165529419.LC.FTS.B,
16.95%,
1/24/23
...
1,875
353
165216714.LC.FTS.B,
17.74%,
1/24/23
...
7,224
7,094
164710540.LC.FTS.B,
6.46%,
1/27/23
...
4,509
4,474
165116341.LC.FTS.B,
6.46%,
1/27/23
....
1,884
1,872
164964075.LC.FTS.B,
8.81%,
1/27/23
...
529
523
164685625.LC.FTS.B,
10.33%,
1/27/23
...
4,533
4,484
165397059.LC.FTS.B,
17.74%,
1/27/23
...
2,053
2,045
165575241.LC.FTS.B,
17.74%,
1/27/23
...
3,650
3,635
165899098.LC.FTS.B,
17.74%,
2/04/23
...
3,825
3,596
166123497.LC.FTS.B,
8.81%,
2/05/23
...
4,743
4,697
166191657.LC.FTS.B,
7.02%,
2/07/23
...
8,532
8,441
166195099.LC.FTS.B,
7.56%,
2/07/23
...
6,757
6,685
166496776.LC.FTS.B,
7.56%,
2/11/23
....
8,549
8,460
166505020.LC.FTS.B,
8.19%,
2/11/23
....
6,829
6,765
166520793.LC.FTS.B,
14.3%,
2/11/23
....
2,382
2,256
166669255.LC.FTS.B,
15.24%,
2/14/23
...
1,031
1,002
166744387.LC.FTS.B,
16.12%,
2/18/23
...
7,150
6,911
166966308.LC.FTS.B,
16.12%,
2/19/23
...
584
566
167023907.LC.FTS.B,
Zero
Cpn,
2/28/23
.
2,116
202
167114304.LC.FTS.B,
17.74%,
2/28/23
...
2,378
2,362
167520510.LC.FTS.B,
23.05%,
2/28/23
...
7,228
7,090
167126995.LC.FTS.B,
23.05%,
3/02/23
...
11,025
10,189
167907245.LC.FTS.B,
6.46%,
3/06/23
...
6,409
6,174
168159441.LC.FTS.B,
8.81%,
3/11/23
....
4,910
4,744
167837487.LC.FTS.B,
14.3%,
3/16/23
...
1,001
983
168351728.LC.FTS.B,
14.3%,
3/16/23
...
2,767
2,671
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
103
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
LendingClub
Corp.
-
LCX
(continued)
156436810.LC.FTS.B,
16.95%,
8/05/23
...
$
690
$
693
148884785.LC.FTS.B,
13.08%,
4/09/24
...
19,163
2,263
159198648.LC.FTS.B,
17.74%,
9/25/24
...
8,057
7,786
158981937.LC.FTS.B,
16.12%,
9/26/24
...
7,981
7,808
161858763.LC.FTS.B,
14.3%,
11/14/24
...
2,837
2,715
161888275.LC.FTS.B,
15.24%,
11/14/24
..
8,408
8,075
162030908.LC.FTS.B,
12.4%,
11/19/24
...
8,695
7,715
162266279.LC.FTS.B,
11.02%,
11/22/24
..
16,047
15,402
162966512.LC.FTS.B,
11.02%,
12/12/24
..
12,907
11,286
162318190.LC.FTS.B,
13.08%,
12/13/24
..
3,046
2,666
163115691.LC.FTS.B,
13.08%,
12/13/24
..
21,437
20,567
163292439.LC.FTS.B,
8.19%,
12/18/24
...
9,348
8,354
163517783.LC.FTS.B,
13.08%,
12/18/24
..
13,538
12,097
163658787.LC.FTS.B,
10.33%,
12/23/24
..
5,418
4,922
163479653.LC.FTS.B,
20.55%,
12/30/24
..
7,208
6,960
163615560.LC.FTS.B,
20.55%,
12/30/24
..
9,368
8,935
163919650.LC.FTS.B,
20.55%,
12/30/24
..
3,810
3,634
163989384.LC.FTS.B,
23.05%,
12/30/24
..
12,776
12,181
164031282.LC.FTS.B,
12.4%,
12/31/24
...
24,131
22,863
164050345.LC.FTS.B,
13.08%,
12/31/24
..
17,406
16,545
164067189.LC.FTS.B,
13.08%,
12/31/24
..
22,054
20,878
164510336.LC.FTS.B,
13.08%,
1/10/25
...
17,479
15,944
165291472.LC.FTS.B,
14.3%,
1/21/25
...
21,353
19,012
165441115.LC.FTS.B,
8.81%,
1/24/25
....
9,069
8,121
164586812.LC.FTS.B,
8.19%,
1/27/25
...
7,656
7,090
165535605.LC.FTS.B,
Zero
Cpn,
1/28/25
.
14,859
1,333
165510737.LC.FTS.B,
8.19%,
1/30/25
...
14,787
1,637
166081454.LC.FTS.B,
8.19%,
2/07/25
...
22,693
22,030
166039716.LC.FTS.B,
10.33%,
2/07/25
...
23,142
21,942
166603986.LC.FTS.B,
10.33%,
2/14/25
...
12,195
11,573
166880211.LC.FTS.B,
8.19%,
2/18/25
....
11,279
10,224
167015464.LC.FTS.B,
8.19%,
2/24/25
...
2,123
1,970
166833583.LC.FTS.B,
13.08%,
2/24/25
...
15,862
14,205
167466589.LC.FTS.B,
8.19%,
2/27/25
...
7,375
6,801
166272136.LC.FTS.B,
18.62%,
2/28/25
...
14,125
13,232
168006688.LC.FTS.B,
8.19%,
3/09/25
...
16,783
14,956
168296354.LC.FTS.B,
13.08%,
3/13/25
...
12,912
11,540
614,530
LendingClub
Corp.
-
LCX
PM
169579201.LC.FTS.B,
10.81%,
9/14/23
...
12,892
12,547
170457540.LC.FTS.B,
10.81%,
9/16/23
...
2,138
2,082
170196349.LC.FTS.B,
10.81%,
9/17/23
...
2,138
2,073
170462708.LC.FTS.B,
10.81%,
9/17/23
...
8,553
8,290
170309569.LC.FTS.B,
19.12%,
9/17/23
...
2,526
2,421
170551033.LC.FTS.B,
15.4%,
9/18/23
...
13,324
12,795
170212064.LC.FTS.B,
10.19%,
9/22/23
...
5,027
4,796
170617520.LC.FTS.B,
10.81%,
9/22/23
...
8,125
7,760
170507906.LC.FTS.B,
10.81%,
9/23/23
...
2,566
2,481
170767991.LC.FTS.B,
15.4%,
9/23/23
...
888
868
170374076.LC.FTS.B,
18.24%,
9/23/23
...
2,276
2,215
170727301.LC.FTS.B,
18.24%,
9/23/23
...
1,090
1,065
170641460.LC.FTS.B,
14.02%,
9/24/23
...
4,024
3,864
170726414.LC.FTS.B,
9.56%,
9/28/23
...
5,077
4,910
170680534.LC.FTS.B,
10.19%,
9/28/23
...
4,917
606
170377461.LC.FTS.B,
10.81%,
9/28/23
...
7,270
7,081
170702407.LC.FTS.B,
10.81%,
9/28/23
...
4,704
4,502
170157478.LC.FTS.B,
8.46%,
9/29/23
...
6,758
6,426
Description
Principal
Amount
Value
LendingClub
Corp.
-
LCX
PM
(continued)
170737567.LC.FTS.B,
9.56%,
9/29/23
...
$
451
$
432
170808772.LC.FTS.B,
10.81%,
9/29/23
...
12,567
12,123
170814981.LC.FTS.B,
10.81%,
9/29/23
...
10,632
9,345
170736018.LC.FTS.B,
14.71%,
9/29/23
...
11,759
11,282
170877107.LC.FTS.B,
17.3%,
9/29/23
...
7,225
6,783
170268845.LC.FTS.B,
10.19%,
9/30/23
...
6,825
6,493
170929457.LC.FTS.B,
14.02%,
9/30/23
...
561
536
170891169.LC.FTS.B,
8.46%,
10/01/23
...
1,216
1,204
170837848.LC.FTS.B,
9.56%,
10/01/23
...
13,548
13,050
170013981.LC.FTS.B,
10.81%,
10/01/23
..
5,474
5,172
170847160.LC.FTS.B,
10.81%,
10/01/23
..
1,095
1,052
170705708.LC.FTS.B,
9.56%,
10/05/23
...
6,774
6,382
170930834.LC.FTS.B,
10.19%,
10/06/23
..
11,347
10,834
170985931.LC.FTS.B,
10.81%,
10/06/23
..
13,685
12,964
171178790.LC.FTS.B,
8.46%,
10/14/23
...
6,741
6,393
171220560.LC.FTS.B,
8.46%,
10/14/23
...
13,427
12,946
171214747.LC.FTS.B,
9.56%,
10/14/23
...
11,391
10,969
171236311.LC.FTS.B,
9.56%,
10/14/23
...
6,774
6,612
171032133.LC.FTS.B,
10.81%,
10/14/23
..
912
879
170963456.LC.FTS.B,
19.95%,
10/14/23
..
9,784
9,484
171252541.LC.FTS.B,
10.19%,
10/15/23
..
681
660
171215486.LC.FTS.B,
10.81%,
10/15/23
..
2,281
2,179
171271973.LC.FTS.B,
19.12%,
10/15/23
..
4,865
4,719
171342918.LC.FTS.B,
9.02%,
10/20/23
...
2,925
2,781
171218548.LC.FTS.B,
9.56%,
10/20/23
...
4,967
4,764
171361625.LC.FTS.B,
10.19%,
10/20/23
..
4,515
4,365
171055998.LC.FTS.B,
14.02%,
10/20/23
..
7,954
7,595
171428113.LC.FTS.B,
18.24%,
10/20/23
..
8,215
7,816
171357136.LC.FTS.B,
9.02%,
10/21/23
...
4,794
4,554
171245584.LC.FTS.B,
8.46%,
10/22/23
...
2,462
2,380
171373758.LC.FTS.B,
10.19%,
10/22/23
..
13,617
13,126
171444548.LC.FTS.B,
10.81%,
10/22/23
..
13,703
13,342
170652695.LC.FTS.B,
14.02%,
10/22/23
..
2,344
2,249
170976689.LC.FTS.B,
8.46%,
10/28/23
...
6,042
5,825
171446797.LC.FTS.B,
9.56%,
10/28/23
...
6,774
6,365
171666793.LC.FTS.B,
18.24%,
10/28/23
..
3,866
3,733
171974686.LC.FTS.B,
10.81%,
11/17/23
..
3,391
3,245
172045506.LC.FTS.B,
10.81%,
11/17/23
..
12,051
11,468
172080082.LC.FTS.B,
9.02%,
11/18/23
...
11,946
11,528
172099990.LC.FTS.B,
16.08%,
11/19/23
..
1,009
980
172294502.LC.FTS.B,
8.46%,
11/24/23
...
4,758
4,591
171941466.LC.FTS.B,
10.81%,
11/24/23
..
5,813
5,429
172473775.LC.FTS.B,
10.81%,
12/01/23
..
2,174
2,068
172262310.LC.FTS.B,
9.56%,
12/04/23
...
6,094
5,855
172851902.LC.FTS.B,
19.12%,
12/23/23
..
363
359
173236004.LC.FTS.B,
19.12%,
12/23/23
..
5,430
5,291
173214358.LC.FTS.B,
19.12%,
12/28/23
..
5,430
5,298
173352354.LC.FTS.B,
15.4%,
12/29/23
...
3,390
3,288
173241001.LC.FTS.B,
17.3%,
12/29/23
...
2,141
2,084
173377840.LC.FTS.B,
19.12%,
12/29/23
..
2,282
2,221
173362025.LC.FTS.B,
20.74%,
12/29/23
..
4,323
4,206
173536070.LC.FTS.B,
16.08%,
1/05/24
...
1,399
1,360
173391094.LC.FTS.B,
17.3%,
1/05/24
...
1,692
1,632
173001117.LC.FTS.B,
19.12%,
1/05/24
...
4,524
4,436
173509997.LC.FTS.B,
10.81%,
1/06/24
...
2,702
2,573
173417195.LC.FTS.B,
14.71%,
1/06/24
...
8,319
8,054
173451209.LC.FTS.B,
18.24%,
1/08/24
...
18,521
17,535
172997854.LC.FTS.B,
19.12%,
1/08/24
...
1,712
1,654
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
104
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
LendingClub
Corp.
-
LCX
PM
(continued)
173544565.LC.FTS.B,
19.12%,
1/08/24
...
$
5,707
$
5,499
172932879.LC.FTS.B,
15.4%,
1/15/24
...
10,021
9,415
173437405.LC.FTS.B,
16.08%,
1/15/24
...
7,834
7,581
173826580.LC.FTS.B,
16.99%,
1/15/24
...
10,198
9,880
173800712.LC.FTS.B,
8.24%,
1/19/24
...
7,273
7,028
173898269.LC.FTS.B,
16.99%,
1/19/24
...
7,430
7,318
173997873.LC.FTS.B,
17.49%,
1/20/24
...
6,212
6,103
173925637.LC.FTS.B,
19.12%,
1/20/24
...
2,853
2,768
173397544.LC.FTS.B,
20.74%,
1/20/24
...
2,075
2,013
173912279.LC.FTS.B,
9.99%,
1/21/24
...
6,988
6,578
174033886.LC.FTS.B,
12.49%,
1/21/24
...
14,622
14,307
173996422.LC.FTS.B,
13.19%,
1/21/24
...
988
973
174033162.LC.FTS.B,
16.49%,
1/21/24
...
1,403
1,382
174075262.LC.FTS.B,
16.49%,
1/22/24
...
9,861
9,695
174050191.LC.FTS.B,
16.99%,
1/22/24
...
2,815
2,760
174172795.LC.FTS.B,
15.99%,
1/27/24
...
3,903
3,798
174195278.LC.FTS.B,
16.49%,
1/27/24
...
3,367
3,322
174192330.LC.FTS.B,
20.74%,
1/27/24
...
9,237
9,075
174098270.LC.FTS.B,
6.74%,
2/01/24
...
11,057
10,575
174115077.LC.FTS.B,
8.49%,
2/01/24
....
16,779
16,173
174204894.LC.FTS.B,
12.34%,
2/01/24
...
8,601
8,225
174134025.LC.FTS.B,
16.99%,
2/01/24
...
11,850
11,610
174276782.LC.FTS.B,
17.19%,
2/01/24
...
590
578
170431322.LC.FTS.B,
18.24%,
9/14/25
...
3,663
3,515
170592201.LC.FTS.B,
14.02%,
9/16/25
...
14,220
13,567
170055181.LC.FTS.B,
16.08%,
9/16/25
...
10,827
10,472
170200705.LC.FTS.B,
19.95%,
9/16/25
...
11,117
10,672
170163928.LC.FTS.B,
15.4%,
9/18/25
...
7,214
6,991
170252312.LC.FTS.B,
16.08%,
9/18/25
...
2,067
2,043
170639161.LC.FTS.B,
19.12%,
9/18/25
...
7,370
7,084
169850794.LC.FTS.B,
16.08%,
9/22/25
...
10,826
10,257
170786159.LC.FTS.B,
14.02%,
9/25/25
...
17,065
15,875
170812112.LC.FTS.B,
14.02%,
9/29/25
...
14,516
13,646
170992474.LC.FTS.B,
17.3%,
10/02/25
...
7,422
7,087
171032242.LC.FTS.B,
19.12%,
10/02/25
..
11,266
10,753
170941274.LC.FTS.B,
16.08%,
10/05/25
..
22,086
20,769
171264911.LC.FTS.B,
19.12%,
10/14/25
..
11,266
10,791
170964676.LC.FTS.B,
19.95%,
10/14/25
..
7,795
7,479
171461721.LC.FTS.B,
16.08%,
10/20/25
..
8,098
7,826
170983832.LC.FTS.B,
20.74%,
10/20/25
..
19,796
18,797
171322854.LC.FTS.B,
16.08%,
10/22/25
..
18,405
17,534
172014503.LC.FTS.B,
14.02%,
11/17/25
..
16,198
15,116
172156822.LC.FTS.B,
14.02%,
11/24/25
..
7,404
6,639
172665217.LC.FTS.B,
15.4%,
12/04/25
...
9,139
8,839
172752552.LC.FTS.B,
16.08%,
12/10/25
..
9,175
8,885
173223703.LC.FTS.B,
13.33%,
12/23/25
..
27,640
26,715
173203429.LC.FTS.B,
15.4%,
12/23/25
...
25,738
24,878
173295643.LC.FTS.B,
19.12%,
12/28/25
..
9,342
9,030
173303101.LC.FTS.B,
19.95%,
12/29/25
..
12,103
11,622
172820246.LC.FTS.B,
15.4%,
12/30/25
...
21,712
20,976
173270899.LC.FTS.B,
15.4%,
1/05/26
...
31,344
29,501
172611713.LC.FTS.B,
19.12%,
1/05/26
...
12,763
12,252
173493292.LC.FTS.B,
19.95%,
1/05/26
...
11,560
11,100
172843470.LC.FTS.B,
16.08%,
1/06/26
...
14,014
13,645
173301532.LC.FTS.B,
17.3%,
1/06/26
...
23,519
22,228
173580706.LC.FTS.B,
17.3%,
1/06/26
...
18,324
17,602
173496629.LC.FTS.B,
16.08%,
1/08/26
...
21,568
19,753
172757520.LC.FTS.B,
19.12%,
1/08/26
...
9,227
8,901
Description
Principal
Amount
Value
LendingClub
Corp.
-
LCX
PM
(continued)
173772624.LC.FTS.B,
14.44%,
1/15/26
...
$
3,856
$
3,706
173785381.LC.FTS.B,
16.74%,
1/15/26
...
12,504
12,286
173816609.LC.FTS.B,
19.44%,
1/15/26
...
3,966
3,854
173854798.LC.FTS.B,
21.49%,
1/15/26
...
8,052
7,857
173871807.LC.FTS.B,
21.99%,
1/15/26
...
9,698
9,498
173737758.LC.FTS.B,
9.59%,
1/19/26
...
15,771
14,938
173910442.LC.FTS.B,
17.24%,
1/19/26
...
15,752
15,498
173821408.LC.FTS.B,
21.49%,
1/19/26
...
12,510
12,266
173841383.LC.FTS.B,
21.49%,
1/19/26
...
24,204
23,730
173896730.LC.FTS.B,
23.99%,
1/19/26
...
8,122
7,959
173933933.LC.FTS.B,
13.49%,
1/20/26
...
15,335
14,473
173875674.LC.FTS.B,
14.74%,
1/20/26
...
27,810
25,630
173856403.LC.FTS.B,
14.99%,
1/20/26
...
18,567
17,042
173682030.LC.FTS.B,
15.4%,
1/20/26
...
10,857
10,452
173956639.LC.FTS.B,
18.19%,
1/20/26
...
5,222
5,078
173998821.LC.FTS.B,
21.49%,
1/20/26
...
8,020
7,866
173430770.LC.FTS.B,
13.33%,
1/21/26
...
31,388
29,466
174067801.LC.FTS.B,
15.24%,
1/22/26
...
11,621
11,436
174045948.LC.FTS.B,
17.44%,
1/22/26
...
14,907
14,665
174087634.LC.FTS.B,
23.99%,
1/22/26
...
12,183
11,957
174177272.LC.FTS.B,
16.49%,
1/27/26
...
9,364
9,221
173813936.LC.FTS.B,
19.74%,
1/27/26
...
19,070
18,714
174031108.LC.FTS.B,
21.99%,
1/27/26
...
27,458
26,992
174278232.LC.FTS.B,
23.99%,
2/01/26
...
24,635
23,980
1,381,385
Prosper
Funding
LLC
1473148.PS.FTS.B,
13.99%,
11/12/23
....
1,593
1,575
1484667.PS.FTS.B,
12.74%,
11/17/23
....
1,965
1,961
1472000.PS.FTS.B,
11.99%,
11/18/23
....
2,840
2,825
1478692.PS.FTS.B,
18.99%,
11/24/23
....
2,920
2,887
1475141.PS.FTS.B,
23.2%,
11/25/23
....
5,272
5,345
1501929.PS.FTS.B,
14.19%,
12/22/23
...
4,722
4,645
1491946.PS.FTS.B,
15.49%,
12/22/23
...
1,324
1,309
1579196.PS.FTS.B,
25.75%,
6/29/24
....
5,566
5,340
1602993.PS.FTS.B,
8.7%,
7/23/24
......
18,103
17,858
1602999.PS.FTS.B,
14.24%,
7/23/24
....
6,058
5,868
1592858.PS.FTS.B,
16.6%,
7/23/24
.....
9,576
9,231
1609512.PS.FTS.B,
16%,
8/05/24
.......
6,688
6,400
1603033.PS.FTS.B,
24.6%,
8/05/24
.....
6,139
5,930
1603345.PS.FTS.B,
12.8%,
8/06/24
.....
2,151
2,081
1603735.PS.FTS.B,
14.7%,
8/06/24
.....
8,872
8,494
1603741.PS.FTS.B,
16.6%,
8/06/24
.....
5,586
5,348
1610577.PS.FTS.B,
19.8%,
8/06/24
.....
4,924
4,724
1611408.PS.FTS.B,
15.4%,
8/09/24
.....
7,414
7,106
1604533.PS.FTS.B,
17.1%,
8/09/24
.....
7,463
7,191
1611363.PS.FTS.B,
18.24%,
8/09/24
....
8,995
8,621
1610856.PS.FTS.B,
18.3%,
8/09/24
.....
7,535
7,240
1602188.PS.FTS.B,
14.29%,
8/10/24
....
6,642
6,642
1602197.PS.FTS.B,
18.41%,
8/10/24
....
3,697
3,545
1602614.PS.FTS.B,
19.8%,
8/10/24
.....
7,559
7,266
1613184.PS.FTS.B,
15.6%,
8/11/24
.....
7,420
7,117
1600076.PS.FTS.B,
12.7%,
8/12/24
.....
2,870
2,768
1604249.PS.FTS.B,
13.4%,
8/13/24
.....
4,045
3,908
1610184.PS.FTS.B,
13.4%,
8/15/24
.....
9,606
9,270
1613274.PS.FTS.B,
14.39%,
8/16/24
....
16,853
13,832
1618425.PS.FTS.B,
19.8%,
8/20/24
.....
15,080
14,614
1608881.PS.FTS.B,
14.7%,
8/23/24
.....
2,218
2,138
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
105
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Prosper
Funding
LLC
(continued)
1618983.PS.FTS.B,
19.8%,
8/23/24
.....
$
5,052
$
4,904
1609535.PS.FTS.B,
26.21%,
8/24/24
....
7,717
7,547
1614016.PS.FTS.B,
14.89%,
8/25/24
....
7,030
6,781
1610579.PS.FTS.B,
15%,
8/25/24
.......
3,701
3,570
1620933.PS.FTS.B,
15.7%,
8/25/24
.....
7,241
6,985
1620627.PS.FTS.B,
16.9%,
8/25/24
.....
8,204
7,913
1621098.PS.FTS.B,
17.5%,
8/25/24
.....
1,859
1,816
1610624.PS.FTS.B,
20.9%,
8/25/24
.....
5,848
150
1615387.PS.FTS.B,
15.1%,
8/27/24
.....
3,828
3,695
1622424.PS.FTS.B,
16.1%,
8/27/24
.....
3,074
2,967
1612397.PS.FTS.B,
20.8%,
8/27/24
.....
10,762
472
1617541.PS.FTS.B,
19.3%,
8/31/24
.....
9,223
8,816
1623215.PS.FTS.B,
24.81%,
9/20/24
....
6,513
6,318
1634217.PS.FTS.B,
24.51%,
9/21/24
....
8,352
2,243
1623656.PS.FTS.B,
25.71%,
9/21/24
....
7,930
7,713
1628356.PS.FTS.B,
11.6%,
9/22/24
.....
1,889
1,830
1628362.PS.FTS.B,
11.7%,
9/22/24
.....
5,292
5,126
1635087.PS.FTS.B,
12.3%,
9/22/24
.....
7,576
7,338
1635063.PS.FTS.B,
14.56%,
9/22/24
....
8,708
8,434
1624643.PS.FTS.B,
15.12%,
9/22/24
....
2,949
2,840
1628341.PS.FTS.B,
15.9%,
9/22/24
.....
6,001
5,779
1635060.PS.FTS.B,
16.64%,
9/22/24
....
11,542
11,111
1624631.PS.FTS.B,
17.8%,
9/22/24
.....
13,729
1,970
1624646.PS.FTS.B,
18.4%,
9/22/24
.....
2,322
2,248
1624622.PS.FTS.B,
18.41%,
9/22/24
....
12,353
11,891
1628338.PS.FTS.B,
18.41%,
9/22/24
....
7,700
7,412
1624811.PS.FTS.B,
24.09%,
9/22/24
....
2,761
2,688
1635348.PS.FTS.B,
26.3%,
9/22/24
.....
1,589
1,546
1635891.PS.FTS.B,
13.7%,
9/23/24
.....
1,523
1,476
1635768.PS.FTS.B,
14.89%,
9/23/24
....
7,536
7,259
1629058.PS.FTS.B,
15.7%,
9/23/24
.....
1,917
1,846
1635762.PS.FTS.B,
17.96%,
9/23/24
....
4,988
4,804
1625948.PS.FTS.B,
11.6%,
9/24/24
.....
7,557
7,323
1626509.PS.FTS.B,
12.3%,
9/24/24
.....
8,334
8,076
1636260.PS.FTS.B,
12.76%,
9/24/24
....
1,518
1,471
1636335.PS.FTS.B,
13%,
9/24/24
.......
11,393
11,041
1630123.PS.FTS.B,
13.2%,
9/24/24
.....
2,017
2,017
1636458.PS.FTS.B,
13.8%,
9/24/24
.....
3,428
3,322
1629274.PS.FTS.B,
13.9%,
9/24/24
.....
3,345
437
1636257.PS.FTS.B,
14.56%,
9/24/24
....
11,113
–
1636308.PS.FTS.B,
14.56%,
9/24/24
....
2,291
2,221
1626602.PS.FTS.B,
16.1%,
9/24/24
.....
3,605
3,476
1625990.PS.FTS.B,
16.28%,
9/24/24
....
26,897
25,913
1625708.PS.FTS.B,
17.8%,
9/24/24
.....
9,271
8,985
1629244.PS.FTS.B,
17.96%,
9/24/24
....
7,498
7,223
1636317.PS.FTS.B,
18.2%,
9/24/24
.....
3,094
2,999
1636947.PS.FTS.B,
20.34%,
9/24/24
....
1,559
1,510
1634199.PS.FTS.B,
22.9%,
9/25/24
.....
7,884
7,643
1630390.PS.FTS.B,
11.6%,
9/27/24
.....
7,812
7,577
1630750.PS.FTS.B,
11.7%,
9/27/24
.....
9,199
8,924
1637526.PS.FTS.B,
12.3%,
9/27/24
.....
11,746
11,392
1630264.PS.FTS.B,
13.3%,
9/27/24
.....
3,132
3,038
1626854.PS.FTS.B,
15%,
9/27/24
.......
3,160
3,048
1626884.PS.FTS.B,
15%,
9/27/24
.......
6,320
6,096
1637235.PS.FTS.B,
15.1%,
9/27/24
.....
3,951
3,811
1626683.PS.FTS.B,
15.4%,
9/27/24
.....
4,315
2,389
1637193.PS.FTS.B,
15.4%,
9/27/24
.....
17,141
16,547
1630384.PS.FTS.B,
16%,
9/27/24
.......
7,920
7,639
Description
Principal
Amount
Value
Prosper
Funding
LLC
(continued)
1630447.PS.FTS.B,
16%,
9/27/24
.......
$
3,170
$
3,058
1637214.PS.FTS.B,
16.39%,
9/27/24
....
5,341
5,151
1630396.PS.FTS.B,
16.43%,
9/27/24
....
15,157
14,619
1630414.PS.FTS.B,
16.43%,
9/27/24
....
1,587
1,531
1626842.PS.FTS.B,
20.01%,
9/27/24
....
5,642
5,474
1630381.PS.FTS.B,
20.8%,
9/27/24
.....
7,238
7,026
1627679.PS.FTS.B,
11.7%,
9/28/24
.....
3,908
3,832
1630936.PS.FTS.B,
12%,
9/28/24
.......
6,571
6,446
1631188.PS.FTS.B,
13.36%,
9/28/24
....
8,251
8,102
1638180.PS.FTS.B,
13.36%,
9/28/24
....
11,787
11,575
1630918.PS.FTS.B,
13.8%,
9/28/24
.....
6,295
6,184
1630933.PS.FTS.B,
13.81%,
9/28/24
....
11,804
11,596
1638321.PS.FTS.B,
13.9%,
9/28/24
.....
8,659
8,507
1627928.PS.FTS.B,
14.7%,
9/28/24
.....
4,540
4,380
1627706.PS.FTS.B,
15.1%,
9/28/24
.....
1,580
1,546
1627796.PS.FTS.B,
15.4%,
9/28/24
.....
7,910
7,741
1628048.PS.FTS.B,
15.4%,
9/28/24
.....
5,616
5,500
1630837.PS.FTS.B,
15.4%,
9/28/24
.....
3,955
3,871
1638096.PS.FTS.B,
16.1%,
9/28/24
.....
3,987
3,897
1638108.PS.FTS.B,
16.5%,
9/28/24
.....
8,010
7,895
1638078.PS.FTS.B,
18.11%,
9/28/24
....
9,573
9,389
1627961.PS.FTS.B,
19.3%,
9/28/24
.....
1,601
1,582
1631467.PS.FTS.B,
20.46%,
9/28/24
....
11,007
10,884
1638306.PS.FTS.B,
21.56%,
9/28/24
....
4,525
4,477
1639245.PS.FTS.B,
11.6%,
9/29/24
.....
4,368
4,213
1628921.PS.FTS.B,
13.7%,
9/30/24
.....
15,732
15,157
1639584.PS.FTS.B,
14.49%,
9/30/24
....
9,301
9,184
1635648.PS.FTS.B,
17.54%,
9/30/24
....
11,994
11,580
1627514.PS.FTS.B,
13.5%,
10/02/24
....
7,907
7,685
1642194.PS.FTS.B,
19.5%,
10/05/24
....
14,822
14,191
1636828.PS.FTS.B,
16.1%,
10/07/24
....
6,342
6,068
1630822.PS.FTS.B,
13.86%,
10/11/24
....
12,605
12,165
1655337.PS.FTS.B,
12%,
10/27/24
......
6,476
6,249
1645220.PS.FTS.B,
13.5%,
10/27/24
....
16,466
15,981
1655328.PS.FTS.B,
15.4%,
10/27/24
....
2,447
2,360
1648597.PS.FTS.B,
15.5%,
10/27/24
....
8,158
7,867
1648594.PS.FTS.B,
15.9%,
10/27/24
....
1,924
1,898
1655466.PS.FTS.B,
17.8%,
10/27/24
....
12,316
11,936
1648606.PS.FTS.B,
18.11%,
10/27/24
....
2,465
2,377
1656180.PS.FTS.B,
10.8%,
10/28/24
....
7,242
7,102
1656192.PS.FTS.B,
10.97%,
10/28/24
...
4,029
3,940
1649488.PS.FTS.B,
11.7%,
10/28/24
....
8,875
8,710
1646303.PS.FTS.B,
11.89%,
10/28/24
....
12,110
11,886
1656015.PS.FTS.B,
12.3%,
10/28/24
....
8,083
7,936
1649524.PS.FTS.B,
14.39%,
10/28/24
...
1,626
1,590
1649797.PS.FTS.B,
17.05%,
10/28/24
...
11,061
10,837
1649812.PS.FTS.B,
24.09%,
10/28/24
...
1,670
1,661
1656462.PS.FTS.B,
27.62%,
10/28/24
...
12,636
12,605
1647104.PS.FTS.B,
10.8%,
10/29/24
....
4,022
3,879
1647374.PS.FTS.B,
13.13%,
10/29/24
...
5,672
5,410
1650016.PS.FTS.B,
13.5%,
10/29/24
....
16,222
15,474
1650442.PS.FTS.B,
16.57%,
10/29/24
...
12,327
11,772
1656681.PS.FTS.B,
17%,
10/29/24
......
1,638
1,561
1650046.PS.FTS.B,
19.41%,
10/29/24
...
18,855
17,965
1657236.PS.FTS.B,
22.6%,
10/29/24
....
444
429
1657803.PS.FTS.B,
13.13%,
11/01/24
....
8,504
8,122
1648730.PS.FTS.B,
17%,
11/02/24
......
9,825
9,384
1651990.PS.FTS.B,
18.41%,
11/02/24
....
20,626
19,727
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
106
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Prosper
Funding
LLC
(continued)
1651379.PS.FTS.B,
10.8%,
11/05/24
....
$
12,870
$
12,435
1654657.PS.FTS.B,
12.3%,
11/05/24
....
20,199
19,514
1661403.PS.FTS.B,
14.11%,
11/05/24
....
20,304
19,615
1651385.PS.FTS.B,
14.6%,
11/05/24
....
3,446
788
1635077.PS.FTS.B,
20.57%,
11/05/24
....
12,574
12,060
1664814.PS.FTS.B,
11.79%,
11/08/24
....
1,929
1,881
1651904.PS.FTS.B,
13.81%,
11/08/24
....
8,115
7,845
1658215.PS.FTS.B,
16%,
11/08/24
......
7,073
6,776
1653476.PS.FTS.B,
10.8%,
11/09/24
....
2,413
2,334
1665852.PS.FTS.B,
11.79%,
11/09/24
....
9,681
9,363
1652624.PS.FTS.B,
12.3%,
11/09/24
....
3,232
3,126
1653332.PS.FTS.B,
12.79%,
11/09/24
....
16,182
15,626
1652882.PS.FTS.B,
13.4%,
11/09/24
....
4,863
4,703
1652855.PS.FTS.B,
13.41%,
11/09/24
....
8,174
7,841
1659070.PS.FTS.B,
13.7%,
11/09/24
....
8,112
7,772
1659052.PS.FTS.B,
15.29%,
11/09/24
....
3,259
3,122
1665843.PS.FTS.B,
15.29%,
11/09/24
....
3,266
3,266
1653434.PS.FTS.B,
15.4%,
11/09/24
....
2,120
2,036
1659220.PS.FTS.B,
16.6%,
11/09/24
....
8,196
7,851
1652864.PS.FTS.B,
17%,
11/09/24
......
20,468
19,625
1659274.PS.FTS.B,
19.5%,
11/09/24
....
11,540
11,063
1665651.PS.FTS.B,
19.6%,
11/09/24
....
12,368
11,856
1652858.PS.FTS.B,
20.24%,
11/09/24
....
2,478
2,375
1654004.PS.FTS.B,
15.29%,
11/10/24
....
4,074
3,904
1654961.PS.FTS.B,
11.88%,
11/12/24
....
12,104
11,716
1657065.PS.FTS.B,
15.29%,
11/12/24
....
8,200
7,832
1654955.PS.FTS.B,
15.5%,
11/12/24
....
8,044
7,716
1660819.PS.FTS.B,
17%,
11/12/24
......
2,456
2,359
1661158.PS.FTS.B,
17%,
11/12/24
......
1,637
1,573
1654835.PS.FTS.B,
17.8%,
11/12/24
....
13,687
555
1654616.PS.FTS.B,
18.6%,
11/12/24
....
5,394
5,180
1652873.PS.FTS.B,
19.6%,
11/14/24
....
8,580
8,363
1662559.PS.FTS.B,
13.1%,
11/15/24
....
8,098
7,777
1486265.PS.FTS.B,
19.99%,
11/16/24
....
8,691
8,536
1658144.PS.FTS.B,
14.49%,
11/17/24
....
24,288
23,839
1672080.PS.FTS.B,
18.41%,
11/19/24
....
8,548
8,219
1611393.PS.FTS.B,
17%,
11/20/24
......
4,946
4,739
1665015.PS.FTS.B,
6%,
11/22/24
.......
20,773
17,142
1503354.PS.FTS.B,
20.74%,
11/24/24
....
4,005
3,937
1680283.PS.FTS.B,
11.07%,
12/16/24
....
3,736
3,626
1674119.PS.FTS.B,
11.6%,
12/16/24
.....
8,314
8,068
1674128.PS.FTS.B,
12.3%,
12/16/24
....
2,166
2,102
1687134.PS.FTS.B,
12.6%,
12/16/24
....
5,835
5,612
1686729.PS.FTS.B,
13.36%,
12/16/24
...
12,527
12,157
1687119.PS.FTS.B,
13.5%,
12/16/24
....
12,531
12,052
1680238.PS.FTS.B,
13.81%,
12/16/24
...
20,902
20,284
1673705.PS.FTS.B,
16%,
12/16/24
......
8,406
8,084
1686747.PS.FTS.B,
16.5%,
12/16/24
....
4,927
4,739
1686726.PS.FTS.B,
18.41%,
12/16/24
...
21,138
20,325
1674134.PS.FTS.B,
19.5%,
12/16/24
....
1,695
1,630
1680268.PS.FTS.B,
19.6%,
12/16/24
....
8,479
8,154
1680277.PS.FTS.B,
19.6%,
12/16/24
....
8,479
8,154
1680457.PS.FTS.B,
13.1%,
12/17/24
....
12,995
10,756
1674263.PS.FTS.B,
18.9%,
12/17/24
....
1,158
1,118
1681039.PS.FTS.B,
14.49%,
12/20/24
...
6,700
6,453
1675928.PS.FTS.B,
10.97%,
12/21/24
...
8,301
8,066
1676546.PS.FTS.B,
11.79%,
12/21/24
....
8,362
1,068
1689480.PS.FTS.B,
13.7%,
12/21/24
....
5,851
5,638
Description
Principal
Amount
Value
Prosper
Funding
LLC
(continued)
1689501.PS.FTS.B,
15.9%,
12/21/24
....
$
8,404
$
8,098
1676387.PS.FTS.B,
16.2%,
12/21/24
....
8,410
8,112
1676435.PS.FTS.B,
16.93%,
12/21/24
...
10,531
10,147
1674137.PS.FTS.B,
18.2%,
12/21/24
....
1,695
1,631
1689111.PS.FTS.B,
23.4%,
12/21/24
.....
5,987
5,784
1677272.PS.FTS.B,
11.6%,
12/22/24
....
10,393
10,101
1676915.PS.FTS.B,
12.3%,
12/22/24
....
8,329
8,095
1689882.PS.FTS.B,
15.29%,
12/22/24
...
4,615
4,449
1683052.PS.FTS.B,
16.2%,
12/22/24
....
1,682
1,623
1683121.PS.FTS.B,
16.8%,
12/22/24
....
21,056
20,296
1689870.PS.FTS.B,
18.09%,
12/22/24
...
5,209
4,379
1690275.PS.FTS.B,
21.5%,
12/22/24
....
7,665
7,394
1683241.PS.FTS.B,
22.6%,
12/22/24
....
3,415
3,302
1678466.PS.FTS.B,
11.4%,
12/24/24
....
6,847
6,655
1685272.PS.FTS.B,
16.7%,
12/28/24
....
21,643
21,270
1681405.PS.FTS.B,
16.9%,
12/28/24
....
13,077
12,654
1692336.PS.FTS.B,
21.8%,
12/28/24
....
8,309
8,198
1686262.PS.FTS.B,
10.5%,
12/29/24
....
14,005
3,039
1686151.PS.FTS.B,
14.6%,
12/29/24
....
1,724
1,649
1679818.PS.FTS.B,
17.8%,
12/30/24
....
13,992
13,469
1693752.PS.FTS.B,
23.9%,
12/30/24
....
4,391
4,177
1686607.PS.FTS.B,
26.09%,
12/30/24
...
2,645
2,534
1694922.PS.FTS.B,
24.11%,
1/03/25
....
2,634
2,512
1695360.PS.FTS.B,
13.3%,
1/04/25
.....
4,295
4,164
1683092.PS.FTS.B,
24.4%,
1/04/25
.....
4,392
4,191
1695489.PS.FTS.B,
25.4%,
1/04/25
.....
8,378
7,992
1684433.PS.FTS.B,
24.4%,
1/06/25
.....
4,298
4,105
1697064.PS.FTS.B,
24.4%,
1/06/25
.....
1,731
1,654
1684775.PS.FTS.B,
24.11%,
1/07/25
....
6,145
5,876
1680806.PS.FTS.B,
24.4%,
1/08/25
.....
3,093
2,999
1687799.PS.FTS.B,
13.41%,
1/12/25
....
12,948
12,495
1694614.PS.FTS.B,
11.4%,
1/13/25
.....
3,422
3,326
1688987.PS.FTS.B,
12%,
1/13/25
.......
7,710
7,492
1694584.PS.FTS.B,
12.2%,
1/13/25
.....
17,141
16,656
1701780.PS.FTS.B,
12.3%,
1/13/25
.....
12,859
12,495
1688570.PS.FTS.B,
13.87%,
1/13/25
....
5,161
4,967
1701390.PS.FTS.B,
14.89%,
1/13/25
....
6,912
6,672
1701399.PS.FTS.B,
16%,
1/13/25
.......
6,048
5,820
1688558.PS.FTS.B,
16.43%,
1/13/25
....
2,594
2,496
1701372.PS.FTS.B,
16.5%,
1/13/25
.....
4,449
3,720
1701342.PS.FTS.B,
17.7%,
1/13/25
.....
21,674
20,815
1694587.PS.FTS.B,
19.6%,
1/13/25
.....
8,702
8,357
1701789.PS.FTS.B,
22.5%,
1/13/25
.....
2,291
1,916
1694602.PS.FTS.B,
23.3%,
1/13/25
.....
8,765
8,416
1701807.PS.FTS.B,
24.09%,
1/13/25
....
1,756
1,686
1688981.PS.FTS.B,
24.5%,
1/13/25
.....
11,420
10,964
1689359.PS.FTS.B,
12.3%,
1/14/25
.....
4,318
4,209
1689362.PS.FTS.B,
13.77%,
1/14/25
....
30,098
28,978
1689344.PS.FTS.B,
13.9%,
1/14/25
.....
8,602
8,282
1695688.PS.FTS.B,
13.96%,
1/14/25
....
5,592
5,435
1702149.PS.FTS.B,
15%,
1/14/25
.......
8,622
8,300
1695340.PS.FTS.B,
15.7%,
1/14/25
.....
8,634
8,312
1689338.PS.FTS.B,
16.02%,
1/14/25
....
14,688
14,115
1689368.PS.FTS.B,
16.2%,
1/14/25
.....
4,322
4,153
1695346.PS.FTS.B,
16.8%,
1/14/25
.....
6,490
6,248
1695364.PS.FTS.B,
16.8%,
1/14/25
.....
4,327
4,165
1695355.PS.FTS.B,
18.4%,
1/14/25
.....
4,341
4,171
1695982.PS.FTS.B,
25.4%,
1/14/25
.....
6,600
6,340
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
107
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Prosper
Funding
LLC
(continued)
1684772.PS.FTS.B,
24.4%,
1/15/25
.....
$
4,430
$
4,236
1696479.PS.FTS.B,
25.4%,
1/16/25
.....
6,960
5,856
1702809.PS.FTS.B,
14.89%,
1/18/25
....
21,549
20,779
1690361.PS.FTS.B,
18.5%,
1/18/25
.....
3,473
3,345
1696480.PS.FTS.B,
18.8%,
1/18/25
.....
4,344
4,183
1697491.PS.FTS.B,
16.7%,
1/19/25
.....
4,326
4,169
1692497.PS.FTS.B,
17.2%,
1/19/25
.....
5,629
5,424
1704390.PS.FTS.B,
17.8%,
1/19/25
.....
1,734
1,671
1692221.PS.FTS.B,
23%,
1/19/25
.......
6,126
5,906
1691657.PS.FTS.B,
25.11%,
1/19/25
....
4,602
1,241
1699183.PS.FTS.B,
13.05%,
1/20/25
....
30,052
29,003
1706151.PS.FTS.B,
23.13%,
1/20/25
....
2,511
648
1706328.PS.FTS.B,
24.4%,
1/21/25
.....
5,265
5,082
1694027.PS.FTS.B,
13.42%,
1/24/25
....
17,186
16,746
1700809.PS.FTS.B,
22.6%,
1/24/25
.....
4,377
4,233
1696034.PS.FTS.B,
13.5%,
1/25/25
.....
1,742
1,685
1709424.PS.FTS.B,
23.4%,
1/26/25
.....
1,753
1,697
1705071.PS.FTS.B,
18.7%,
2/01/25
.....
4,457
4,298
1706926.PS.FTS.B,
19.8%,
2/01/25
.....
5,355
5,114
1706807.PS.FTS.B,
17.8%,
2/11/25
.....
3,559
3,418
1714708.PS.FTS.B,
10.67%,
2/15/25
....
12,303
11,993
1715170.PS.FTS.B,
10.8%,
2/15/25
.....
2,637
2,570
1708031.PS.FTS.B,
12.9%,
2/15/25
.....
6,793
6,622
1708067.PS.FTS.B,
13%,
2/15/25
.......
8,824
8,601
1708037.PS.FTS.B,
13.36%,
2/15/25
....
3,532
3,442
1715161.PS.FTS.B,
14.11%,
2/15/25
....
3,006
2,930
1708070.PS.FTS.B,
14.2%,
2/15/25
.....
8,843
8,541
1708871.PS.FTS.B,
14.49%,
2/15/25
....
8,847
8,545
1715155.PS.FTS.B,
14.63%,
2/15/25
....
7,102
5,905
1708448.PS.FTS.B,
15.86%,
2/15/25
....
13,301
12,846
1721421.PS.FTS.B,
16.3%,
2/15/25
.....
16,485
15,908
1715173.PS.FTS.B,
16.6%,
2/15/25
.....
3,623
3,501
1721052.PS.FTS.B,
16.8%,
2/15/25
.....
3,109
3,002
1714738.PS.FTS.B,
17.93%,
2/15/25
....
1,955
82
1721427.PS.FTS.B,
17.96%,
2/15/25
....
15,573
15,038
1715167.PS.FTS.B,
18.6%,
2/15/25
.....
2,756
2,314
1708055.PS.FTS.B,
20.25%,
2/15/25
....
21,347
20,612
1708457.PS.FTS.B,
22.6%,
2/15/25
.....
5,827
5,603
1708904.PS.FTS.B,
23.4%,
2/15/25
.....
4,488
4,315
1708478.PS.FTS.B,
24.34%,
2/15/25
....
4,633
3,921
1708040.PS.FTS.B,
26.46%,
2/15/25
....
3,607
3,467
1716160.PS.FTS.B,
11.55%,
2/16/25
....
8,802
8,582
1715854.PS.FTS.B,
13.2%,
2/16/25
.....
6,091
5,886
1716226.PS.FTS.B,
13.9%,
2/16/25
.....
7,460
7,209
1722384.PS.FTS.B,
15.1%,
2/16/25
.....
6,199
5,990
1716088.PS.FTS.B,
17.8%,
2/16/25
.....
4,448
4,284
1709597.PS.FTS.B,
18.5%,
2/16/25
.....
5,344
5,147
1715845.PS.FTS.B,
19.83%,
2/16/25
....
8,820
8,521
1722438.PS.FTS.B,
21.5%,
2/16/25
.....
2,593
2,497
1709591.PS.FTS.B,
22.6%,
2/16/25
.....
13,447
12,940
1723260.PS.FTS.B,
25.11%,
2/17/25
....
5,339
5,137
1717273.PS.FTS.B,
10.8%,
2/18/25
.....
10,108
9,861
1723593.PS.FTS.B,
22.6%,
2/18/25
.....
13,447
12,957
1723899.PS.FTS.B,
22.6%,
2/18/25
.....
6,275
6,046
1722492.PS.FTS.B,
16.64%,
2/20/25
....
8,896
8,630
1724859.PS.FTS.B,
11.4%,
2/22/25
.....
8,152
7,964
1724148.PS.FTS.B,
12.3%,
2/22/25
.....
7,932
7,745
1718062.PS.FTS.B,
20.4%,
2/22/25
.....
1,787
1,726
Description
Principal
Amount
Value
Prosper
Funding
LLC
(continued)
1713806.PS.FTS.B,
10.07%,
2/23/25
....
$
35,114
$
34,587
1712954.PS.FTS.B,
12.4%,
2/23/25
.....
3,526
3,444
1713725.PS.FTS.B,
13.9%,
2/23/25
.....
7,932
7,686
1720977.PS.FTS.B,
14.56%,
2/28/25
....
7,292
7,158
1721013.PS.FTS.B,
14.6%,
2/28/25
.....
407
405
1715152.PS.FTS.B,
21%,
2/28/25
.......
9,161
8,820
1708484.PS.FTS.B,
22.6%,
2/28/25
.....
3,707
3,582
1710380.PS.FTS.B,
23.59%,
2/28/25
....
2,953
2,840
1730775.PS.FTS.B,
16.3%,
3/03/25
.....
1,829
1,761
1740433.PS.FTS.B,
8.6%,
3/23/25
......
2,704
2,687
1748893.PS.FTS.B,
21.5%,
4/05/25
.....
2,848
2,762
1683602.PS.FTS.B,
23.4%,
7/05/25
.....
2,000
1,906
1638183.PS.FTS.B,
17.71%,
8/28/25
....
10,786
5,978
1632058.PS.FTS.B,
12.9%,
8/29/25
.....
4,452
4,292
1651787.PS.FTS.B,
14.89%,
10/08/25
...
9,105
8,843
1489833.PS.FTS.B,
16.99%,
11/30/25
....
7,683
7,259
1485878.PS.FTS.B,
11.99%,
12/17/25
....
11,918
11,797
1592846.PS.FTS.B,
15.9%,
7/23/26
.....
6,863
6,571
1599437.PS.FTS.B,
16.5%,
8/05/26
.....
30,522
29,030
1599440.PS.FTS.B,
26.4%,
8/05/26
.....
1,798
1,727
1599782.PS.FTS.B,
29.08%,
8/05/26
....
3,623
3,477
1603753.PS.FTS.B,
13.4%,
8/06/26
.....
2,558
2,525
1600460.PS.FTS.B,
15.2%,
8/06/26
.....
13,022
12,391
1603750.PS.FTS.B,
15.9%,
8/06/26
.....
6,962
6,624
1600466.PS.FTS.B,
18.73%,
8/06/26
....
13,179
12,536
1603759.PS.FTS.B,
20.59%,
8/06/26
....
8,838
8,393
1601273.PS.FTS.B,
12.6%,
8/09/26
.....
12,902
12,440
1604551.PS.FTS.B,
13.74%,
8/09/26
....
21,244
20,500
1611384.PS.FTS.B,
13.88%,
8/09/26
....
8,641
8,331
1601390.PS.FTS.B,
13.9%,
8/09/26
.....
12,963
12,498
1604293.PS.FTS.B,
17.7%,
8/09/26
.....
3,940
3,749
1611387.PS.FTS.B,
19.33%,
8/09/26
....
7,923
7,537
1611390.PS.FTS.B,
22.8%,
8/09/26
.....
1,780
1,715
1611810.PS.FTS.B,
13%,
8/10/26
.......
2,153
2,077
1601678.PS.FTS.B,
13.4%,
8/10/26
.....
6,901
6,901
1606042.PS.FTS.B,
14.74%,
8/10/26
....
13,880
13,400
1611513.PS.FTS.B,
15.68%,
8/10/26
....
17,392
16,772
1601978.PS.FTS.B,
19.33%,
8/10/26
....
10,123
9,636
1611807.PS.FTS.B,
19.33%,
8/10/26
....
13,204
12,568
1612131.PS.FTS.B,
19.48%,
8/10/26
....
6,605
6,287
1602347.PS.FTS.B,
20.3%,
8/10/26
.....
1,766
1,681
1612149.PS.FTS.B,
20.7%,
8/10/26
.....
5,305
5,048
1612140.PS.FTS.B,
23.74%,
8/10/26
....
5,800
5,517
1605592.PS.FTS.B,
24%,
8/10/26
.......
1,802
1,731
1605754.PS.FTS.B,
28.4%,
8/10/26
.....
4,520
4,353
1606183.PS.FTS.B,
12.6%,
8/11/26
.....
12,902
12,446
1606453.PS.FTS.B,
14.89%,
8/11/26
....
7,371
7,027
1612809.PS.FTS.B,
24%,
8/11/26
.......
5,548
814
1606945.PS.FTS.B,
12.5%,
8/12/26
.....
7,197
891
1607296.PS.FTS.B,
13.3%,
8/12/26
.....
5,174
4,992
1606891.PS.FTS.B,
16.3%,
8/12/26
.....
6,970
6,646
1603532.PS.FTS.B,
20.5%,
8/12/26
.....
9,362
8,902
1607350.PS.FTS.B,
25.4%,
8/12/26
.....
1,896
1,896
1604576.PS.FTS.B,
18.3%,
8/13/26
.....
8,773
8,366
1602449.PS.FTS.B,
25%,
8/15/26
.......
1,794
1,721
1611798.PS.FTS.B,
25.74%,
8/15/26
....
9,013
8,651
1601684.PS.FTS.B,
15.37%,
8/16/26
....
7,841
7,570
1604651.PS.FTS.B,
17.83%,
8/16/26
....
30,717
30,717
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
108
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Prosper
Funding
LLC
(continued)
1609519.PS.FTS.B,
15%,
8/17/26
.......
$
6,940
$
6,631
1611322.PS.FTS.B,
12.5%,
8/19/26
.....
30,093
29,084
1618161.PS.FTS.B,
12.5%,
8/19/26
.....
12,897
12,464
1618149.PS.FTS.B,
13.7%,
8/19/26
.....
9,499
9,180
1600493.PS.FTS.B,
14.09%,
8/20/26
....
5,019
4,881
1611805.PS.FTS.B,
16.18%,
8/20/26
....
25,698
24,576
1611804.PS.FTS.B,
18%,
8/22/26
.......
22,055
20,954
1619901.PS.FTS.B,
13.5%,
8/24/26
.....
10,355
10,019
1610300.PS.FTS.B,
16.2%,
8/24/26
.....
16,978
16,978
1620930.PS.FTS.B,
15.8%,
8/25/26
.....
8,700
8,335
1615105.PS.FTS.B,
12.7%,
8/26/26
.....
16,348
15,825
1621938.PS.FTS.B,
14.39%,
8/26/26
....
6,926
6,704
1615738.PS.FTS.B,
13.3%,
8/27/26
.....
3,503
3,391
1612100.PS.FTS.B,
16.3%,
8/27/26
.....
8,841
8,476
1615246.PS.FTS.B,
16.64%,
8/27/26
....
10,621
10,182
1615636.PS.FTS.B,
12.5%,
8/30/26
.....
13,115
12,727
1612853.PS.FTS.B,
13%,
8/30/26
.......
34,991
33,688
1623183.PS.FTS.B,
25.2%,
8/30/26
.....
9,462
9,462
1617610.PS.FTS.B,
15.29%,
9/11/26
....
12,022
11,422
1622321.PS.FTS.B,
19.23%,
9/17/26
....
2,674
2,550
1634619.PS.FTS.B,
19%,
9/21/26
.......
8,908
8,513
1635069.PS.FTS.B,
12.7%,
9/22/26
.....
7,538
7,329
1624628.PS.FTS.B,
12.9%,
9/22/26
.....
21,853
21,153
1624619.PS.FTS.B,
15.1%,
9/22/26
.....
8,804
8,428
1625300.PS.FTS.B,
11.79%,
9/23/26
....
6,096
5,903
1625246.PS.FTS.B,
12.5%,
9/23/26
.....
8,293
8,030
1636737.PS.FTS.B,
11.61%,
9/24/26
....
12,632
2,711
1626002.PS.FTS.B,
11.7%,
9/24/26
.....
21,766
21,080
1630114.PS.FTS.B,
11.7%,
9/24/26
......
7,836
7,589
1630111.PS.FTS.B,
13.03%,
9/24/26
.....
14,429
13,974
1629628.PS.FTS.B,
14.31%,
9/24/26
....
10,538
10,095
1625705.PS.FTS.B,
16.33%,
9/24/26
....
16,236
15,552
1637205.PS.FTS.B,
11.7%,
9/27/26
.....
9,285
8,998
1630660.PS.FTS.B,
11.79%,
9/27/26
....
6,284
1,355
1637199.PS.FTS.B,
12.4%,
9/27/26
.....
14,178
13,740
1637250.PS.FTS.B,
13.4%,
9/27/26
.....
6,221
6,029
1626827.PS.FTS.B,
14.2%,
9/27/26
.....
24,052
23,068
1626860.PS.FTS.B,
15%,
9/27/26
.......
5,804
5,566
1631629.PS.FTS.B,
11.7%,
9/28/26
.....
4,421
4,330
1631647.PS.FTS.B,
12.7%,
9/28/26
.....
13,195
12,936
1638105.PS.FTS.B,
13.4%,
9/28/26
.....
5,777
5,666
1628072.PS.FTS.B,
14.53%,
9/28/26
....
17,922
17,594
1627559.PS.FTS.B,
14.89%,
9/28/26
....
15,174
14,752
1627979.PS.FTS.B,
15.29%,
9/28/26
....
31,275
30,416
1638453.PS.FTS.B,
16.1%,
9/28/26
.....
13,434
13,073
1631731.PS.FTS.B,
16.8%,
9/28/26
.....
13,560
13,035
1631380.PS.FTS.B,
18.13%,
9/28/26
....
31,520
30,721
1639041.PS.FTS.B,
11.7%,
9/29/26
.....
13,263
12,783
1627703.PS.FTS.B,
13.41%,
9/30/26
....
5,333
5,120
1626833.PS.FTS.B,
14.7%,
10/01/26
....
13,408
12,885
1469063.PS.FTS.B,
19.24%,
10/12/26
...
10,287
9,960
1646769.PS.FTS.B,
11.79%,
10/13/26
....
11,499
11,122
1636743.PS.FTS.B,
12.62%,
10/17/26
...
5,683
5,553
1648282.PS.FTS.B,
14%,
10/26/26
......
13,355
12,814
1648288.PS.FTS.B,
14.96%,
10/26/26
...
11,160
10,707
1654998.PS.FTS.B,
18.33%,
10/26/26
...
3,232
3,163
1645235.PS.FTS.B,
9.81%,
10/27/26
....
5,342
5,184
1645223.PS.FTS.B,
10.5%,
10/27/26
....
8,053
7,815
Description
Principal
Amount
Value
Prosper
Funding
LLC
(continued)
1648600.PS.FTS.B,
10.5%,
10/27/26
....
$
3,081
$
3,020
1645646.PS.FTS.B,
10.8%,
10/27/26
....
13,433
13,035
1648582.PS.FTS.B,
10.9%,
10/27/26
....
8,958
8,693
1645232.PS.FTS.B,
11.2%,
10/27/26
....
10,502
10,195
1645661.PS.FTS.B,
11.7%,
10/27/26
....
551
550
1645649.PS.FTS.B,
12.7%,
10/27/26
....
6,301
6,114
1645652.PS.FTS.B,
12.7%,
10/27/26
....
5,851
5,678
1655325.PS.FTS.B,
13.08%,
10/27/26
...
18,291
17,749
1645655.PS.FTS.B,
13.95%,
10/27/26
...
5,419
5,201
1648945.PS.FTS.B,
14.29%,
10/27/26
...
31,635
30,365
1648588.PS.FTS.B,
14.39%,
10/27/26
...
13,562
13,017
1648621.PS.FTS.B,
15.29%,
10/27/26
...
31,716
30,441
1648591.PS.FTS.B,
17%,
10/27/26
......
6,548
6,262
1648990.PS.FTS.B,
18.33%,
10/27/26
...
15,520
14,862
1655580.PS.FTS.B,
21%,
10/27/26
......
12,860
12,458
1655331.PS.FTS.B,
28%,
10/27/26
......
13,980
13,528
1646309.PS.FTS.B,
9.62%,
10/28/26
....
13,858
13,567
1649515.PS.FTS.B,
10.5%,
10/28/26
....
17,896
17,533
1649809.PS.FTS.B,
11.1%,
10/28/26
....
5,378
5,271
1649800.PS.FTS.B,
12%,
10/28/26
......
3,932
3,953
1656018.PS.FTS.B,
13.5%,
10/28/26
....
4,510
4,383
1649791.PS.FTS.B,
15.1%,
10/28/26
....
22,643
22,035
1646312.PS.FTS.B,
15.29%,
10/28/26
...
8,156
7,938
1646066.PS.FTS.B,
16.18%,
10/28/26
...
13,623
13,268
1645916.PS.FTS.B,
16.3%,
10/28/26
....
6,813
6,625
1649512.PS.FTS.B,
17.23%,
10/28/26
...
27,316
26,626
1646072.PS.FTS.B,
28.23%,
10/28/26
...
11,025
10,671
1650307.PS.FTS.B,
10.08%,
10/29/26
...
11,619
11,218
1646960.PS.FTS.B,
10.5%,
10/29/26
....
18,343
17,710
1647161.PS.FTS.B,
10.5%,
10/29/26
....
6,263
6,047
1657278.PS.FTS.B,
10.5%,
10/29/26
....
7,070
6,827
1650655.PS.FTS.B,
10.71%,
10/29/26
...
7,650
7,406
1646819.PS.FTS.B,
11.2%,
10/29/26
....
3,586
3,462
1650901.PS.FTS.B,
11.2%,
10/29/26
....
13,895
13,415
1650547.PS.FTS.B,
13.7%,
10/29/26
....
10,492
9,982
1650847.PS.FTS.B,
13.93%,
10/29/26
...
7,224
6,974
1647071.PS.FTS.B,
14.38%,
10/29/26
...
18,081
17,454
1650865.PS.FTS.B,
15.18%,
10/29/26
...
9,059
8,744
1646828.PS.FTS.B,
15.29%,
10/29/26
...
19,029
18,098
1647101.PS.FTS.B,
18.48%,
10/29/26
...
24,751
24,751
1656939.PS.FTS.B,
25.9%,
10/29/26
....
9,489
2,683
1656183.PS.FTS.B,
14.38%,
10/31/26
...
6,787
6,612
1655343.PS.FTS.B,
16.65%,
10/31/26
...
12,184
11,662
1647098.PS.FTS.B,
11.55%,
11/01/26
....
26,890
25,961
1649806.PS.FTS.B,
12.33%,
11/01/26
....
13,504
13,011
1651774.PS.FTS.B,
11.89%,
11/02/26
....
7,632
7,375
1648496.PS.FTS.B,
19%,
11/02/26
......
4,569
4,316
1648793.PS.FTS.B,
26.43%,
11/02/26
....
9,284
8,823
1646054.PS.FTS.B,
15.1%,
11/03/26
....
3,087
2,963
1650023.PS.FTS.B,
14.79%,
11/04/26
....
9,951
9,735
1661388.PS.FTS.B,
11.55%,
11/05/26
....
3,588
3,470
1650968.PS.FTS.B,
16.33%,
11/05/26
....
16,345
15,583
1654723.PS.FTS.B,
18.6%,
11/05/26
....
7,760
7,342
1651754.PS.FTS.B,
10.5%,
11/08/26
....
17,890
17,312
1658080.PS.FTS.B,
14.63%,
11/08/26
....
13,564
12,947
1651784.PS.FTS.B,
16.18%,
11/08/26
....
22,693
21,659
1658086.PS.FTS.B,
16.33%,
11/08/26
....
10,897
10,400
1664766.PS.FTS.B,
18.33%,
11/08/26
....
22,810
21,616
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
109
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Prosper
Funding
LLC
(continued)
1652300.PS.FTS.B,
21.18%,
11/08/26
....
$
13,204
$
12,505
1666515.PS.FTS.B,
11.2%,
11/09/26
.....
21,509
20,818
1665864.PS.FTS.B,
11.97%,
11/09/26
....
7,633
7,388
1666449.PS.FTS.B,
14.6%,
11/09/26
....
10,398
9,929
1658839.PS.FTS.B,
14.68%,
11/09/26
....
13,565
13,128
1658842.PS.FTS.B,
17%,
11/09/26
......
11,369
10,782
1653086.PS.FTS.B,
18.2%,
11/09/26
....
11,437
10,850
1659079.PS.FTS.B,
19%,
11/09/26
......
5,483
5,198
1658812.PS.FTS.B,
21.9%,
11/09/26
....
2,568
2,446
1665660.PS.FTS.B,
27.4%,
11/09/26
....
6,511
6,215
1654196.PS.FTS.B,
11.6%,
11/10/26
.....
17,943
17,371
1667148.PS.FTS.B,
11.6%,
11/10/26
.....
8,074
7,817
1654037.PS.FTS.B,
12.32%,
11/10/26
....
31,922
15,737
1660714.PS.FTS.B,
13.6%,
11/10/26
....
9,019
8,616
1651394.PS.FTS.B,
15.29%,
11/10/26
....
18,157
17,350
1654735.PS.FTS.B,
18.25%,
11/10/26
....
22,865
21,645
1660333.PS.FTS.B,
21.18%,
11/10/26
....
3,673
3,483
1654187.PS.FTS.B,
22.5%,
11/10/26
....
13,832
13,202
1655069.PS.FTS.B,
11.6%,
11/12/26
.....
1,539
1,533
1667997.PS.FTS.B,
11.79%,
11/12/26
....
8,078
7,824
1655114.PS.FTS.B,
12.32%,
11/12/26
....
10,786
10,447
1660804.PS.FTS.B,
14.68%,
11/12/26
....
31,652
30,654
1667757.PS.FTS.B,
18.25%,
11/12/26
....
11,859
11,262
1667178.PS.FTS.B,
13.3%,
11/15/26
....
9,031
8,646
1661914.PS.FTS.B,
13.5%,
11/15/26
....
22,541
21,573
1661875.PS.FTS.B,
18.33%,
11/15/26
....
13,686
13,018
1661797.PS.FTS.B,
21%,
11/15/26
......
1,836
1,761
1669413.PS.FTS.B,
24.09%,
11/15/26
....
8,316
7,974
1657538.PS.FTS.B,
21.3%,
11/16/26
....
1,859
1,570
1658339.PS.FTS.B,
16%,
11/17/26
......
6,805
6,482
1656447.PS.FTS.B,
14.38%,
11/27/26
....
20,147
19,625
1664327.PS.FTS.B,
13.5%,
11/30/26
....
3,658
3,488
1687146.PS.FTS.B,
11.43%,
12/16/26
....
10,922
10,610
1686741.PS.FTS.B,
11.79%,
12/16/26
....
5,690
5,618
1679842.PS.FTS.B,
11.89%,
12/16/26
....
4,556
4,426
1687128.PS.FTS.B,
12.3%,
12/16/26
....
9,120
8,860
1674095.PS.FTS.B,
12.5%,
12/16/26
....
20,779
20,189
1680286.PS.FTS.B,
12.5%,
12/16/26
....
9,124
8,864
1673711.PS.FTS.B,
12.6%,
12/16/26
....
4,107
3,990
1687125.PS.FTS.B,
13.4%,
12/16/26
....
9,143
8,882
1674104.PS.FTS.B,
13.77%,
12/16/26
...
15,552
14,921
1680241.PS.FTS.B,
14.38%,
12/16/26
...
22,899
22,244
1680235.PS.FTS.B,
14.41%,
12/16/26
...
32,073
31,156
1674101.PS.FTS.B,
14.53%,
12/16/26
...
16,395
15,927
1673708.PS.FTS.B,
14.7%,
12/16/26
....
8,253
7,917
1687113.PS.FTS.B,
15.18%,
12/16/26
....
15,146
14,530
1680250.PS.FTS.B,
15.84%,
12/16/26
...
1,996
1,918
1673690.PS.FTS.B,
16.1%,
12/16/26
....
32,192
30,881
1687140.PS.FTS.B,
16.7%,
12/16/26
....
13,992
13,992
1679824.PS.FTS.B,
18.2%,
12/16/26
....
9,129
8,693
1680301.PS.FTS.B,
18.5%,
12/16/26
....
4,622
4,402
1674113.PS.FTS.B,
24%,
12/16/26
......
9,342
8,955
1673699.PS.FTS.B,
26.43%,
12/16/26
...
14,073
13,485
1687137.PS.FTS.B,
28.08%,
12/16/26
...
14,127
13,530
1687227.PS.FTS.B,
14.29%,
12/17/26
...
18,323
17,584
1674257.PS.FTS.B,
14.6%,
12/17/26
....
3,279
3,263
1680406.PS.FTS.B,
18.33%,
12/17/26
...
23,102
22,015
1675265.PS.FTS.B,
10.5%,
12/20/26
....
20,887
20,309
Description
Principal
Amount
Value
Prosper
Funding
LLC
(continued)
1681297.PS.FTS.B,
13.3%,
12/20/26
....
$
26,237
$
25,512
1681006.PS.FTS.B,
15.29%,
12/20/26
...
21,118
20,288
1675340.PS.FTS.B,
16%,
12/20/26
......
12,414
11,852
1688076.PS.FTS.B,
16.4%,
12/20/26
....
13,805
13,262
1682455.PS.FTS.B,
11.43%,
12/21/26
....
27,305
26,556
1688964.PS.FTS.B,
13.93%,
12/21/26
...
13,731
13,354
1689036.PS.FTS.B,
14.6%,
12/21/26
....
18,335
17,622
1689054.PS.FTS.B,
14.89%,
12/21/26
...
13,760
13,225
1676534.PS.FTS.B,
15.29%,
12/21/26
...
13,772
13,236
1676819.PS.FTS.B,
14.68%,
12/22/26
...
29,342
28,543
1674110.PS.FTS.B,
14.7%,
12/22/26
....
32,175
30,955
1690116.PS.FTS.B,
23.11%,
12/22/26
....
13,990
13,464
1677269.PS.FTS.B,
25.9%,
12/22/26
....
5,624
5,410
1683589.PS.FTS.B,
10.5%,
12/23/26
....
10,898
10,604
1690638.PS.FTS.B,
11.1%,
12/23/26
....
8,640
8,407
1680116.PS.FTS.B,
14%,
12/29/26
......
25,059
23,953
1674146.PS.FTS.B,
18.78%,
12/31/26
...
9,431
9,025
1674290.PS.FTS.B,
21.09%,
12/31/26
...
7,961
7,637
1686735.PS.FTS.B,
25.27%,
12/31/26
...
14,350
13,807
1675466.PS.FTS.B,
19%,
1/01/27
.......
7,541
7,232
1694608.PS.FTS.B,
10.62%,
1/13/27
....
8,994
8,755
1701387.PS.FTS.B,
11.1%,
1/13/27
.....
7,380
7,182
1688549.PS.FTS.B,
11.55%,
1/13/27
....
13,850
13,478
1694572.PS.FTS.B,
11.6%,
1/13/27
.....
20,131
19,589
1695022.PS.FTS.B,
11.7%,
1/13/27
.....
13,750
13,381
1688996.PS.FTS.B,
11.79%,
1/13/27
....
22,633
22,024
1688534.PS.FTS.B,
12.9%,
1/13/27
.....
23,145
22,521
1694605.PS.FTS.B,
15.2%,
1/13/27
.....
1,953
1,876
1695031.PS.FTS.B,
15.5%,
1/13/27
.....
9,303
8,940
1701783.PS.FTS.B,
15.5%,
1/13/27
.....
13,955
13,410
1688990.PS.FTS.B,
17.82%,
1/13/27
....
28,026
26,928
1694623.PS.FTS.B,
18.5%,
1/13/27
.....
6,547
6,237
1701375.PS.FTS.B,
21.69%,
1/13/27
....
9,450
9,055
1694593.PS.FTS.B,
23.4%,
1/13/27
.....
9,428
9,021
1701396.PS.FTS.B,
27.4%,
1/13/27
.....
4,758
4,555
1702062.PS.FTS.B,
11.79%,
1/14/27
....
8,314
8,092
1702152.PS.FTS.B,
12.87%,
1/14/27
....
5,554
5,406
1695343.PS.FTS.B,
12.9%,
1/14/27
.....
4,999
4,866
1702167.PS.FTS.B,
13.1%,
1/14/27
.....
6,854
6,670
1702287.PS.FTS.B,
15.29%,
1/14/27
....
9,300
8,940
1689365.PS.FTS.B,
15.8%,
1/14/27
.....
18,617
17,896
1702137.PS.FTS.B,
16.2%,
1/14/27
.....
6,055
5,820
1702173.PS.FTS.B,
16.33%,
1/14/27
....
1,187
1,184
1689356.PS.FTS.B,
17.1%,
1/14/27
.....
9,670
1,367
1702161.PS.FTS.B,
18.13%,
1/14/27
....
3,739
3,594
1689329.PS.FTS.B,
18.4%,
1/14/27
.....
9,164
8,735
1689347.PS.FTS.B,
19%,
1/14/27
.......
7,489
7,138
1695361.PS.FTS.B,
26.13%,
1/14/27
....
14,199
13,590
1690325.PS.FTS.B,
16.28%,
1/18/27
....
5,590
5,381
1690286.PS.FTS.B,
18.4%,
1/18/27
.....
21,976
20,992
1703139.PS.FTS.B,
25.9%,
1/18/27
.....
1,893
1,816
1704984.PS.FTS.B,
10.29%,
1/19/27
....
11,973
11,667
1704465.PS.FTS.B,
10.5%,
1/19/27
.....
16,585
16,162
1692188.PS.FTS.B,
11.2%,
1/19/27
.....
22,963
22,378
1698220.PS.FTS.B,
11.5%,
1/19/27
.....
13,849
13,495
1691687.PS.FTS.B,
12.7%,
1/19/27
.....
27,763
27,052
1692305.PS.FTS.B,
15.1%,
1/19/27
.....
13,945
13,429
1692281.PS.FTS.B,
16.5%,
1/19/27
.....
32,621
31,413
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
110
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Prosper
Funding
LLC
(continued)
1691828.PS.FTS.B,
18.6%,
1/19/27
.....
$
1,871
$
1,788
1704129.PS.FTS.B,
21.18%,
1/19/27
....
9,455
9,062
1692593.PS.FTS.B,
10.5%,
1/20/27
.....
18,428
17,962
1698709.PS.FTS.B,
15.2%,
1/20/27
.....
13,947
13,436
1698673.PS.FTS.B,
16.61%,
1/20/27
....
18,713
18,093
1686133.PS.FTS.B,
10.44%,
1/22/27
....
11,108
10,846
1700548.PS.FTS.B,
25.9%,
1/24/27
.....
5,205
5,014
1695725.PS.FTS.B,
16.1%,
1/25/27
.....
21,142
20,275
1708451.PS.FTS.B,
10.26%,
2/15/27
....
10,095
9,874
1715146.PS.FTS.B,
10.5%,
2/15/27
.....
23,363
22,810
1715164.PS.FTS.B,
11.1%,
2/15/27
.....
5,145
5,023
1708079.PS.FTS.B,
11.6%,
2/15/27
.....
9,362
9,140
1721439.PS.FTS.B,
12%,
2/15/27
.......
2,811
2,744
1721037.PS.FTS.B,
12.24%,
2/15/27
....
9,841
9,498
1715149.PS.FTS.B,
12.62%,
2/15/27
....
23,444
22,887
1708763.PS.FTS.B,
15.62%,
2/15/27
....
21,668
20,911
1715143.PS.FTS.B,
16.33%,
2/15/27
....
18,862
18,202
1708907.PS.FTS.B,
18.13%,
2/15/27
....
14,183
13,685
1708901.PS.FTS.B,
18.33%,
2/15/27
....
18,916
18,098
1720974.PS.FTS.B,
18.4%,
2/15/27
.....
18,445
17,647
1708466.PS.FTS.B,
18.6%,
2/15/27
.....
6,150
5,884
1708103.PS.FTS.B,
18.78%,
2/15/27
....
2,218
2,120
1721424.PS.FTS.B,
21%,
2/15/27
.......
8,069
7,744
1721007.PS.FTS.B,
22%,
2/15/27
.......
11,406
10,945
1708913.PS.FTS.B,
25.2%,
2/15/27
.....
11,343
10,874
1715353.PS.FTS.B,
25.9%,
2/15/27
.....
1,910
1,832
1721430.PS.FTS.B,
26.43%,
2/15/27
....
9,557
9,165
1709507.PS.FTS.B,
13.5%,
2/16/27
.....
7,512
7,253
1709207.PS.FTS.B,
16%,
2/16/27
.......
10,369
9,928
1722171.PS.FTS.B,
18.78%,
2/16/27
....
7,098
6,794
1709498.PS.FTS.B,
25.9%,
2/16/27
.....
9,551
9,166
1722801.PS.FTS.B,
23.31%,
2/17/27
....
4,284
4,116
1718479.PS.FTS.B,
11.1%,
2/22/27
.....
8,419
8,233
1724556.PS.FTS.B,
17.38%,
2/22/27
....
6,098
5,856
1726185.PS.FTS.B,
10.5%,
2/23/27
.....
14,018
13,711
1719415.PS.FTS.B,
10.8%,
2/23/27
.....
11,126
10,883
1719667.PS.FTS.B,
12.5%,
2/23/27
.....
14,064
13,755
1721913.PS.FTS.B,
16.8%,
2/24/27
.....
33,108
32,094
1739157.PS.FTS.B,
11.5%,
3/18/27
.....
38,016
37,398
1749003.PS.FTS.B,
19.3%,
3/31/27
.....
6,785
6,505
1749006.PS.FTS.B,
19.53%,
3/31/27
....
10,665
10,224
1749429.PS.FTS.B,
25.9%,
3/31/27
.....
5,846
5,595
1613553.PS.FTS.B,
19.78%,
6/15/27
....
11,953
5,897
6,019,131
Upgrade,
Inc.
24177030.UG.FTS.B,
30.51%,
11/05/22
..
161
164
24195036.UG.FTS.B,
Zero
Cpn,
11/06/22
.
1,620
125
24198170.UG.FTS.B,
23.3%,
11/07/22
...
1,445
1,457
24230934.UG.FTS.B,
24.29%,
11/07/22
..
749
756
24181857.UG.FTS.B,
24.29%,
11/08/22
..
772
776
24265315.UG.FTS.B,
25.26%,
11/08/22
..
455
460
24375634.UG.FTS.B,
25.26%,
11/12/22
..
1,152
1,166
24408286.UG.FTS.B,
24.99%,
11/14/22
..
755
765
24186022.UG.FTS.B,
25.26%,
11/14/22
..
6,010
5,624
24307805.UG.FTS.B,
30.51%,
11/14/22
..
567
579
24197514.UG.FTS.B,
24.99%,
11/15/22
..
755
765
24217501.UG.FTS.B,
25.26%,
11/15/22
..
1,155
1,167
Description
Principal
Amount
Value
Upgrade,
Inc.
(continued)
24408986.UG.FTS.B,
25.26%,
11/16/22
..
$
1,533
$
1,549
24362451.UG.FTS.B,
25.26%,
11/18/22
..
722
732
24551925.UG.FTS.B,
27.21%,
11/18/22
..
929
945
24508053.UG.FTS.B,
22.34%,
11/20/22
..
6,325
1,106
24598646.UG.FTS.B,
25.26%,
11/20/22
..
661
671
24627227.UG.FTS.B,
23.3%,
11/21/22
...
1,993
2,005
24514267.UG.FTS.B,
25.26%,
11/21/22
..
1,600
(20)
24633524.UG.FTS.B,
25.26%,
11/21/22
..
455
462
24408037.UG.FTS.B,
30.51%,
11/21/22
..
797
818
24545726.UG.FTS.B,
24.99%,
11/23/22
..
4,427
4,480
24759733.UG.FTS.B,
22.34%,
11/26/22
..
298
301
24787776.UG.FTS.B,
25.26%,
11/26/22
..
1,061
1,079
24658950.UG.FTS.B,
24.99%,
11/28/22
..
501
504
24442762.UG.FTS.B,
25.26%,
11/30/22
..
2,191
868
24877097.UG.FTS.B,
25.26%,
12/02/22
..
1,935
1,948
24823556.UG.FTS.B,
27.21%,
12/02/22
..
1,045
12
24848052.UG.FTS.B,
25.26%,
12/03/22
..
750
757
24951581.UG.FTS.B,
24.29%,
12/04/22
..
2,783
2,807
24954573.UG.FTS.B,
25.26%,
12/04/22
..
1,875
1,893
24798549.UG.FTS.B,
25.26%,
12/05/22
..
656
663
25022405.UG.FTS.B,
25.26%,
12/06/22
..
1,225
1,234
24993587.UG.FTS.B,
30.51%,
12/06/22
..
1,190
1,217
25029991.UG.FTS.B,
24.29%,
12/09/22
..
1,857
1,871
24914243.UG.FTS.B,
22.34%,
12/10/22
..
908
916
24693273.UG.FTS.B,
25.26%,
12/11/22
..
4,747
4,792
25074574.UG.FTS.B,
25.26%,
12/12/22
..
750
760
25740670.UG.FTS.B,
24.29%,
12/14/22
..
2,036
2,058
24920052.UG.FTS.B,
Zero
Cpn,
12/16/22
.
743
57
25176694.UG.FTS.B,
22.34%,
12/16/22
..
1,932
1,947
25234063.UG.FTS.B,
23.3%,
12/16/22
...
220
223
25240151.UG.FTS.B,
25.26%,
12/17/22
..
937
951
25356190.UG.FTS.B,
30.51%,
12/18/22
..
497
510
25357782.UG.FTS.B,
18.46%,
12/19/22
..
521
526
25027206.UG.FTS.B,
25.26%,
12/19/22
..
679
688
25368629.UG.FTS.B,
25.26%,
12/19/22
..
937
952
25167367.UG.FTS.B,
25.26%,
12/20/22
..
930
839
25381046.UG.FTS.B,
25.26%,
12/20/22
..
373
379
24565516.UG.FTS.B,
24.99%,
12/23/22
..
710
722
25285501.UG.FTS.B,
25.26%,
12/23/22
..
565
572
25414391.UG.FTS.B,
25.26%,
12/23/22
..
558
568
25484076.UG.FTS.B,
30.12%,
12/23/22
..
3,409
3,488
25513053.UG.FTS.B,
24.29%,
12/24/22
..
6,528
6,598
25111074.UG.FTS.B,
25.26%,
12/26/22
..
4,836
4,841
25532956.UG.FTS.B,
25.26%,
12/26/22
..
484
492
25313096.UG.FTS.B,
30.51%,
12/26/22
..
397
410
25532301.UG.FTS.B,
24.29%,
12/30/22
..
661
666
25652617.UG.FTS.B,
24.99%,
12/30/22
..
667
672
25436876.UG.FTS.B,
25.26%,
12/30/22
..
2,296
2,342
25593308.UG.FTS.B,
25.26%,
12/30/22
..
3,338
3,367
25071555.UG.FTS.B,
24.29%,
12/31/22
..
2,351
2,392
25388007.UG.FTS.B,
25.26%,
12/31/22
..
1,704
1,718
25686162.UG.FTS.B,
24.99%,
1/03/23
...
580
84
25732418.UG.FTS.B,
25.26%,
1/03/23
...
2,227
2,249
25530119.UG.FTS.B,
27.21%,
1/03/23
...
568
575
25610435.UG.FTS.B,
21.38%,
1/06/23
...
2,511
963
25774309.UG.FTS.B,
25.26%,
1/06/23
...
4,588
4,640
25828184.UG.FTS.B,
25.26%,
1/06/23
...
1,525
1,542
25177120.UG.FTS.B,
25.26%,
1/07/23
...
3,340
3,379
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
111
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
(continued)
25738288.UG.FTS.B,
24.99%,
1/08/23
...
$
1,147
$
1,157
25689167.UG.FTS.B,
25.26%,
1/08/23
...
2,235
2,253
25821264.UG.FTS.B,
18.46%,
1/09/23
...
621
625
25845990.UG.FTS.B,
24.99%,
1/10/23
...
1,002
1,010
25568356.UG.FTS.B,
25.26%,
1/14/23
...
681
695
25836913.UG.FTS.B,
25.26%,
1/14/23
...
891
903
25679286.UG.FTS.B,
25.26%,
1/15/23
...
446
452
25712783.UG.FTS.B,
25.26%,
1/17/23
...
1,138
1,152
25709144.UG.FTS.B,
25.26%,
2/03/23
...
2,488
2,512
23712149.UG.FTS.B,
29.69%,
11/06/24
..
16,096
16,950
24548048.UG.FTS.B,
28.99%,
11/20/24
..
26,533
27,403
24415650.UG.FTS.B,
26.77%,
11/22/24
..
9,576
10,008
24697398.UG.FTS.B,
26.77%,
11/25/24
..
10,989
11,526
24468287.UG.FTS.B,
29.69%,
11/26/24
..
21,388
21,548
24755237.UG.FTS.B,
29.69%,
11/26/24
..
7,731
8,217
24511278.UG.FTS.B,
29.69%,
12/01/24
..
21,732
21,400
24606347.UG.FTS.B,
30.17%,
12/03/24
..
13,574
1,039
24391908.UG.FTS.B,
29.69%,
12/06/24
..
9,901
10,405
24464775.UG.FTS.B,
26.77%,
12/09/24
..
14,158
14,574
25051261.UG.FTS.B,
29.69%,
12/09/24
..
11,463
11,797
25366987.UG.FTS.B,
29.69%,
12/19/24
..
11,278
11,702
24618663.UG.FTS.B,
29.69%,
12/21/24
..
16,941
17,827
25533971.UG.FTS.B,
29.69%,
12/26/24
..
7,832
8,268
25752944.UG.FTS.B,
26.77%,
1/03/25
...
10,555
10,939
25721348.UG.FTS.B,
28.99%,
1/06/25
...
17,105
14,615
25684301.UG.FTS.B,
29.69%,
1/06/25
...
10,847
11,195
25284171.UG.FTS.B,
27.74%,
1/14/25
...
13,644
14,212
25595802.UG.FTS.B,
28.99%,
1/22/25
...
13,881
13,381
367,349
Upgrade,
Inc.
-
Card
991753799.UG.FTS.B,
29.49%,
9/05/22
..
2
2
991703503.UG.FTS.B,
28.98%,
9/19/22
..
7
6
991645302.UG.FTS.B,
28.98%,
12/23/22
.
22
4
991619581.UG.FTS.B,
29.46%,
8/17/23
..
56
4
991626357.UG.FTS.B,
29.49%,
11/24/23
.
66
5
991498479.UG.FTS.B,
16.49%,
1/14/24
..
36
36
991542470.UG.FTS.B,
19.99%,
1/18/24
..
79
61
991543207.UG.FTS.B,
19.99%,
1/18/24
..
192
25
991546368.UG.FTS.B,
28.48%,
1/18/24
..
140
141
991552729.UG.FTS.B,
28.48%,
1/18/24
..
808
813
991592691.UG.FTS.B,
28.48%,
1/18/24
..
104
14
991622139.UG.FTS.B,
28.48%,
1/18/24
..
753
767
991732331.UG.FTS.B,
28.48%,
1/18/24
..
80
81
991535064.UG.FTS.B,
29.45%,
1/18/24
..
869
120
991534370.UG.FTS.B,
29.46%,
1/18/24
..
173
171
991535077.UG.FTS.B,
29.46%,
1/18/24
..
105
107
991751743.UG.FTS.B,
29.47%,
1/18/24
..
300
302
991607820.UG.FTS.B,
29.48%,
1/18/24
..
22
22
991615511.UG.FTS.B,
29.48%,
1/18/24
..
94
7
991534887.UG.FTS.B,
29.49%,
1/18/24
..
776
108
991536585.UG.FTS.B,
29.49%,
1/18/24
..
183
187
991538702.UG.FTS.B,
29.49%,
1/18/24
..
10
10
991539593.UG.FTS.B,
29.49%,
1/18/24
..
727
559
991541856.UG.FTS.B,
29.49%,
1/18/24
..
86
87
991545264.UG.FTS.B,
29.49%,
1/18/24
..
0
0
991546280.UG.FTS.B,
29.49%,
1/18/24
..
95
94
991546337.UG.FTS.B,
29.49%,
1/18/24
..
142
144
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991552817.UG.FTS.B,
29.49%,
1/18/24
..
$
194
$
197
991555602.UG.FTS.B,
29.49%,
1/18/24
..
81
83
991556797.UG.FTS.B,
29.49%,
1/18/24
..
33
33
991584575.UG.FTS.B,
29.49%,
1/18/24
..
100
14
991587612.UG.FTS.B,
29.49%,
1/18/24
..
235
236
991629208.UG.FTS.B,
29.49%,
1/18/24
..
158
161
991639272.UG.FTS.B,
29.49%,
1/18/24
..
149
11
991667842.UG.FTS.B,
29.49%,
1/18/24
..
98
97
991692863.UG.FTS.B,
29.49%,
1/18/24
..
46
46
991709913.UG.FTS.B,
29.49%,
1/18/24
..
23
22
991713160.UG.FTS.B,
29.49%,
1/18/24
..
39
39
991727329.UG.FTS.B,
29.49%,
1/18/24
..
274
273
991752426.UG.FTS.B,
29.49%,
1/18/24
..
11
10
991767003.UG.FTS.B,
29.49%,
1/18/24
..
28
28
991769780.UG.FTS.B,
29.49%,
1/18/24
..
125
125
991770423.UG.FTS.B,
29.49%,
1/18/24
..
20
20
991546995.UG.FTS.B,
19.99%,
1/19/24
..
181
184
991755795.UG.FTS.B,
19.99%,
1/19/24
..
314
43
991781416.UG.FTS.B,
20.96%,
1/19/24
..
1,409
1,418
991545922.UG.FTS.B,
25.45%,
1/19/24
..
102
102
991546826.UG.FTS.B,
28.48%,
1/19/24
..
85
86
991632638.UG.FTS.B,
28.48%,
1/19/24
..
169
(1)
991765474.UG.FTS.B,
28.48%,
1/19/24
..
106
107
991781301.UG.FTS.B,
28.48%,
1/19/24
..
308
306
991783894.UG.FTS.B,
28.48%,
1/19/24
..
186
190
991782715.UG.FTS.B,
28.98%,
1/19/24
..
117
118
991769837.UG.FTS.B,
29.46%,
1/19/24
..
107
108
991573098.UG.FTS.B,
29.47%,
1/19/24
..
95
7
991769661.UG.FTS.B,
29.47%,
1/19/24
..
0
0
991586601.UG.FTS.B,
29.48%,
1/19/24
..
136
136
991593296.UG.FTS.B,
29.48%,
1/19/24
..
147
(2)
991638207.UG.FTS.B,
29.48%,
1/19/24
..
218
222
991644301.UG.FTS.B,
29.48%,
1/19/24
..
103
104
991689540.UG.FTS.B,
29.48%,
1/19/24
..
222
223
991746052.UG.FTS.B,
29.48%,
1/19/24
..
317
320
991759026.UG.FTS.B,
29.48%,
1/19/24
..
197
198
991765371.UG.FTS.B,
29.48%,
1/19/24
..
79
79
991542914.UG.FTS.B,
29.49%,
1/19/24
..
175
179
991543014.UG.FTS.B,
29.49%,
1/19/24
..
97
99
991543898.UG.FTS.B,
29.49%,
1/19/24
..
218
221
991546985.UG.FTS.B,
29.49%,
1/19/24
..
105
107
991547308.UG.FTS.B,
29.49%,
1/19/24
..
136
134
991547310.UG.FTS.B,
29.49%,
1/19/24
..
156
13
991547551.UG.FTS.B,
29.49%,
1/19/24
..
658
656
991548186.UG.FTS.B,
29.49%,
1/19/24
..
150
119
991548469.UG.FTS.B,
29.49%,
1/19/24
..
552
425
991551487.UG.FTS.B,
29.49%,
1/19/24
..
183
180
991592161.UG.FTS.B,
29.49%,
1/19/24
..
11
11
991596747.UG.FTS.B,
29.49%,
1/19/24
..
25
25
991598993.UG.FTS.B,
29.49%,
1/19/24
..
95
97
991623047.UG.FTS.B,
29.49%,
1/19/24
..
253
258
991651773.UG.FTS.B,
29.49%,
1/19/24
..
17
17
991662782.UG.FTS.B,
29.49%,
1/19/24
..
20
20
991671486.UG.FTS.B,
29.49%,
1/19/24
..
282
283
991680832.UG.FTS.B,
29.49%,
1/19/24
..
115
115
991684437.UG.FTS.B,
29.49%,
1/19/24
..
107
106
991697230.UG.FTS.B,
29.49%,
1/19/24
..
76
5
991697701.UG.FTS.B,
29.49%,
1/19/24
..
137
138
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
112
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991700048.UG.FTS.B,
29.49%,
1/19/24
..
$
165
$
166
991712782.UG.FTS.B,
29.49%,
1/19/24
..
694
692
991713760.UG.FTS.B,
29.49%,
1/19/24
..
61
60
991716976.UG.FTS.B,
29.49%,
1/19/24
..
295
296
991733265.UG.FTS.B,
29.49%,
1/19/24
..
117
117
991733667.UG.FTS.B,
29.49%,
1/19/24
..
37
37
991738510.UG.FTS.B,
29.49%,
1/19/24
..
43
44
991756258.UG.FTS.B,
29.49%,
1/19/24
..
63
64
991760642.UG.FTS.B,
29.49%,
1/19/24
..
141
141
991765089.UG.FTS.B,
29.49%,
1/19/24
..
143
143
991765438.UG.FTS.B,
29.49%,
1/19/24
..
73
73
991767462.UG.FTS.B,
29.49%,
1/19/24
..
75
75
991768418.UG.FTS.B,
29.49%,
1/19/24
..
58
59
991769206.UG.FTS.B,
29.49%,
1/19/24
..
71
71
991771022.UG.FTS.B,
29.49%,
1/19/24
..
15
15
991775481.UG.FTS.B,
29.49%,
1/19/24
..
35
35
991776397.UG.FTS.B,
29.49%,
1/19/24
..
39
39
991778932.UG.FTS.B,
29.49%,
1/19/24
..
5
5
991782126.UG.FTS.B,
29.49%,
1/19/24
..
205
207
991629083.UG.FTS.B,
Zero
Cpn,
1/20/24
.
294
–
991728725.UG.FTS.B,
18.47%,
1/20/24
..
52
52
991782434.UG.FTS.B,
19.3%,
1/20/24
...
937
945
991758585.UG.FTS.B,
19.96%,
1/20/24
..
25
25
991759253.UG.FTS.B,
19.96%,
1/20/24
..
380
383
991544475.UG.FTS.B,
19.99%,
1/20/24
..
19
19
991546567.UG.FTS.B,
19.99%,
1/20/24
..
79
81
991552412.UG.FTS.B,
19.99%,
1/20/24
..
45
45
991555516.UG.FTS.B,
19.99%,
1/20/24
..
37
37
991556030.UG.FTS.B,
19.99%,
1/20/24
..
17
17
991556410.UG.FTS.B,
19.99%,
1/20/24
..
47
48
991558368.UG.FTS.B,
19.99%,
1/20/24
..
828
846
991563542.UG.FTS.B,
19.99%,
1/20/24
..
62
63
991564841.UG.FTS.B,
19.99%,
1/20/24
..
25
25
991572409.UG.FTS.B,
19.99%,
1/20/24
..
513
519
991574011.UG.FTS.B,
19.99%,
1/20/24
..
67
67
991583492.UG.FTS.B,
19.99%,
1/20/24
..
77
78
991591617.UG.FTS.B,
19.99%,
1/20/24
..
75
77
991597422.UG.FTS.B,
19.99%,
1/20/24
..
195
196
991648817.UG.FTS.B,
19.99%,
1/20/24
..
7
7
991573311.UG.FTS.B,
25.44%,
1/20/24
..
214
215
991689900.UG.FTS.B,
25.44%,
1/20/24
..
15
15
991721579.UG.FTS.B,
25.44%,
1/20/24
..
211
211
991731346.UG.FTS.B,
25.44%,
1/20/24
..
79
79
991563444.UG.FTS.B,
25.45%,
1/20/24
..
173
178
991582394.UG.FTS.B,
25.45%,
1/20/24
..
688
693
991630350.UG.FTS.B,
25.45%,
1/20/24
..
14
14
991709857.UG.FTS.B,
25.45%,
1/20/24
..
101
74
991734079.UG.FTS.B,
25.45%,
1/20/24
..
64
65
991738176.UG.FTS.B,
25.45%,
1/20/24
..
101
101
991754836.UG.FTS.B,
25.45%,
1/20/24
..
61
61
991768790.UG.FTS.B,
25.45%,
1/20/24
..
103
103
991573254.UG.FTS.B,
26.44%,
1/20/24
..
192
193
991609514.UG.FTS.B,
26.44%,
1/20/24
..
18
18
991739704.UG.FTS.B,
26.44%,
1/20/24
..
82
82
991770500.UG.FTS.B,
26.44%,
1/20/24
..
27
27
991608654.UG.FTS.B,
27.95%,
1/20/24
..
39
39
991610954.UG.FTS.B,
27.95%,
1/20/24
..
110
111
991677947.UG.FTS.B,
27.95%,
1/20/24
..
16
16
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991544405.UG.FTS.B,
28.48%,
1/20/24
..
$
109
$
109
991544745.UG.FTS.B,
28.48%,
1/20/24
..
117
16
991546417.UG.FTS.B,
28.48%,
1/20/24
..
295
41
991546473.UG.FTS.B,
28.48%,
1/20/24
..
69
69
991546919.UG.FTS.B,
28.48%,
1/20/24
..
10
10
991549025.UG.FTS.B,
28.48%,
1/20/24
..
243
248
991552091.UG.FTS.B,
28.48%,
1/20/24
..
96
(3)
991554027.UG.FTS.B,
28.48%,
1/20/24
..
290
294
991554902.UG.FTS.B,
28.48%,
1/20/24
..
76
77
991559316.UG.FTS.B,
28.48%,
1/20/24
..
107
109
991561971.UG.FTS.B,
28.48%,
1/20/24
..
28
28
991562264.UG.FTS.B,
28.48%,
1/20/24
..
56
4
991568589.UG.FTS.B,
28.48%,
1/20/24
..
142
145
991569197.UG.FTS.B,
28.48%,
1/20/24
..
146
149
991571005.UG.FTS.B,
28.48%,
1/20/24
..
167
167
991583384.UG.FTS.B,
28.48%,
1/20/24
..
80
81
991585893.UG.FTS.B,
28.48%,
1/20/24
..
18
18
991589155.UG.FTS.B,
28.48%,
1/20/24
..
38
38
991590348.UG.FTS.B,
28.48%,
1/20/24
..
113
115
991594819.UG.FTS.B,
28.48%,
1/20/24
..
14
14
991596321.UG.FTS.B,
28.48%,
1/20/24
..
65
66
991612639.UG.FTS.B,
28.48%,
1/20/24
..
153
154
991613294.UG.FTS.B,
28.48%,
1/20/24
..
44
44
991615418.UG.FTS.B,
28.48%,
1/20/24
..
114
115
991617196.UG.FTS.B,
28.48%,
1/20/24
..
33
33
991617650.UG.FTS.B,
28.48%,
1/20/24
..
322
329
991622252.UG.FTS.B,
28.48%,
1/20/24
..
145
146
991625056.UG.FTS.B,
28.48%,
1/20/24
..
151
153
991635598.UG.FTS.B,
28.48%,
1/20/24
..
696
48
991644127.UG.FTS.B,
28.48%,
1/20/24
..
226
231
991651123.UG.FTS.B,
28.48%,
1/20/24
..
203
205
991659625.UG.FTS.B,
28.48%,
1/20/24
..
618
631
991679918.UG.FTS.B,
28.48%,
1/20/24
..
133
132
991684186.UG.FTS.B,
28.48%,
1/20/24
..
22
22
991691451.UG.FTS.B,
28.48%,
1/20/24
..
120
123
991698484.UG.FTS.B,
28.48%,
1/20/24
..
4
4
991704363.UG.FTS.B,
28.48%,
1/20/24
..
170
171
991708292.UG.FTS.B,
28.48%,
1/20/24
..
243
245
991738025.UG.FTS.B,
28.48%,
1/20/24
..
1
1
991754575.UG.FTS.B,
28.48%,
1/20/24
..
302
304
991756843.UG.FTS.B,
28.48%,
1/20/24
..
74
74
991782424.UG.FTS.B,
28.48%,
1/20/24
..
159
160
991553626.UG.FTS.B,
29.45%,
1/20/24
..
244
249
991584702.UG.FTS.B,
29.45%,
1/20/24
..
298
301
991545055.UG.FTS.B,
29.46%,
1/20/24
..
205
208
991563815.UG.FTS.B,
29.46%,
1/20/24
..
53
53
991568266.UG.FTS.B,
29.46%,
1/20/24
..
21
21
991585330.UG.FTS.B,
29.46%,
1/20/24
..
55
56
991589251.UG.FTS.B,
29.46%,
1/20/24
..
5
5
991596840.UG.FTS.B,
29.46%,
1/20/24
..
52
53
991678744.UG.FTS.B,
29.46%,
1/20/24
..
78
79
991764939.UG.FTS.B,
29.46%,
1/20/24
..
5
5
991561413.UG.FTS.B,
29.47%,
1/20/24
..
65
66
991573077.UG.FTS.B,
29.47%,
1/20/24
..
41
42
991576227.UG.FTS.B,
29.47%,
1/20/24
..
178
179
991615137.UG.FTS.B,
29.47%,
1/20/24
..
852
857
991650318.UG.FTS.B,
29.47%,
1/20/24
..
62
62
991665460.UG.FTS.B,
29.47%,
1/20/24
..
195
14
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
113
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991545746.UG.FTS.B,
29.48%,
1/20/24
..
$
225
$
31
991546096.UG.FTS.B,
29.48%,
1/20/24
..
382
387
991547890.UG.FTS.B,
29.48%,
1/20/24
..
452
462
991550388.UG.FTS.B,
29.48%,
1/20/24
..
1,058
1,081
991559899.UG.FTS.B,
29.48%,
1/20/24
..
19
19
991560733.UG.FTS.B,
29.48%,
1/20/24
..
196
27
991563118.UG.FTS.B,
29.48%,
1/20/24
..
56
57
991564117.UG.FTS.B,
29.48%,
1/20/24
..
80
81
991564976.UG.FTS.B,
29.48%,
1/20/24
..
61
62
991573314.UG.FTS.B,
29.48%,
1/20/24
..
287
291
991590320.UG.FTS.B,
29.48%,
1/20/24
..
17
17
991593773.UG.FTS.B,
29.48%,
1/20/24
..
68
70
991612779.UG.FTS.B,
29.48%,
1/20/24
..
187
189
991615405.UG.FTS.B,
29.48%,
1/20/24
..
133
136
991623519.UG.FTS.B,
29.48%,
1/20/24
..
298
(13)
991630832.UG.FTS.B,
29.48%,
1/20/24
..
28
28
991637112.UG.FTS.B,
29.48%,
1/20/24
..
567
576
991642133.UG.FTS.B,
29.48%,
1/20/24
..
36
36
991658933.UG.FTS.B,
29.48%,
1/20/24
..
23
24
991666791.UG.FTS.B,
29.48%,
1/20/24
..
265
265
991690864.UG.FTS.B,
29.48%,
1/20/24
..
698
709
991698237.UG.FTS.B,
29.48%,
1/20/24
..
124
125
991712564.UG.FTS.B,
29.48%,
1/20/24
..
341
344
991723500.UG.FTS.B,
29.48%,
1/20/24
..
111
112
991740245.UG.FTS.B,
29.48%,
1/20/24
..
16
16
991758030.UG.FTS.B,
29.48%,
1/20/24
..
355
25
991760060.UG.FTS.B,
29.48%,
1/20/24
..
21
21
991768269.UG.FTS.B,
29.48%,
1/20/24
..
–
–
991775284.UG.FTS.B,
29.48%,
1/20/24
..
473
470
991544517.UG.FTS.B,
29.49%,
1/20/24
..
135
138
991544913.UG.FTS.B,
29.49%,
1/20/24
..
299
23
991545295.UG.FTS.B,
29.49%,
1/20/24
..
472
476
991545436.UG.FTS.B,
29.49%,
1/20/24
..
617
45
991545502.UG.FTS.B,
29.49%,
1/20/24
..
365
372
991545540.UG.FTS.B,
29.49%,
1/20/24
..
28
28
991545628.UG.FTS.B,
29.49%,
1/20/24
..
38
39
991545668.UG.FTS.B,
29.49%,
1/20/24
..
16
16
991545797.UG.FTS.B,
29.49%,
1/20/24
..
184
182
991546442.UG.FTS.B,
29.49%,
1/20/24
..
110
9
991546518.UG.FTS.B,
29.49%,
1/20/24
..
99
99
991546552.UG.FTS.B,
29.49%,
1/20/24
..
424
432
991546601.UG.FTS.B,
29.49%,
1/20/24
..
103
103
991546653.UG.FTS.B,
29.49%,
1/20/24
..
119
17
991546665.UG.FTS.B,
29.49%,
1/20/24
..
92
91
991546843.UG.FTS.B,
29.49%,
1/20/24
..
75
76
991547068.UG.FTS.B,
29.49%,
1/20/24
..
154
158
991547138.UG.FTS.B,
29.49%,
1/20/24
..
56
9
991547698.UG.FTS.B,
29.49%,
1/20/24
..
38
38
991547820.UG.FTS.B,
29.49%,
1/20/24
..
22
22
991547826.UG.FTS.B,
29.49%,
1/20/24
..
283
286
991548078.UG.FTS.B,
29.49%,
1/20/24
..
39
40
991548176.UG.FTS.B,
29.49%,
1/20/24
..
132
131
991548275.UG.FTS.B,
29.49%,
1/20/24
..
303
305
991548490.UG.FTS.B,
29.49%,
1/20/24
..
256
261
991548883.UG.FTS.B,
29.49%,
1/20/24
..
814
830
991549381.UG.FTS.B,
29.49%,
1/20/24
..
291
295
991550358.UG.FTS.B,
29.49%,
1/20/24
..
813
830
991550861.UG.FTS.B,
29.49%,
1/20/24
..
364
371
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991551681.UG.FTS.B,
29.49%,
1/20/24
..
$
101
$
101
991551861.UG.FTS.B,
29.49%,
1/20/24
..
30
30
991552461.UG.FTS.B,
29.49%,
1/20/24
..
174
177
991552510.UG.FTS.B,
29.49%,
1/20/24
..
62
62
991552688.UG.FTS.B,
29.49%,
1/20/24
..
59
60
991552719.UG.FTS.B,
29.49%,
1/20/24
..
9
8
991553257.UG.FTS.B,
29.49%,
1/20/24
..
761
774
991553851.UG.FTS.B,
29.49%,
1/20/24
..
22
22
991554296.UG.FTS.B,
29.49%,
1/20/24
..
44
44
991554808.UG.FTS.B,
29.49%,
1/20/24
..
234
(8)
991554826.UG.FTS.B,
29.49%,
1/20/24
..
72
71
991555241.UG.FTS.B,
29.49%,
1/20/24
..
47
47
991555868.UG.FTS.B,
29.49%,
1/20/24
..
141
10
991555945.UG.FTS.B,
29.49%,
1/20/24
..
100
102
991556087.UG.FTS.B,
29.49%,
1/20/24
..
79
81
991556675.UG.FTS.B,
29.49%,
1/20/24
..
64
66
991557821.UG.FTS.B,
29.49%,
1/20/24
..
163
166
991557990.UG.FTS.B,
29.49%,
1/20/24
..
56
56
991558974.UG.FTS.B,
29.49%,
1/20/24
..
90
89
991559051.UG.FTS.B,
29.49%,
1/20/24
..
117
119
991559980.UG.FTS.B,
29.49%,
1/20/24
..
99
101
991560848.UG.FTS.B,
29.49%,
1/20/24
..
157
160
991560944.UG.FTS.B,
29.49%,
1/20/24
..
75
77
991561556.UG.FTS.B,
29.49%,
1/20/24
..
35
35
991561851.UG.FTS.B,
29.49%,
1/20/24
..
54
53
991561923.UG.FTS.B,
29.49%,
1/20/24
..
258
262
991562024.UG.FTS.B,
29.49%,
1/20/24
..
121
90
991562451.UG.FTS.B,
29.49%,
1/20/24
..
71
5
991562972.UG.FTS.B,
29.49%,
1/20/24
..
692
706
991564235.UG.FTS.B,
29.49%,
1/20/24
..
53
53
991564550.UG.FTS.B,
29.49%,
1/20/24
..
71
72
991564618.UG.FTS.B,
29.49%,
1/20/24
..
32
3
991565486.UG.FTS.B,
29.49%,
1/20/24
..
190
188
991567858.UG.FTS.B,
29.49%,
1/20/24
..
583
592
991569020.UG.FTS.B,
29.49%,
1/20/24
..
96
98
991569555.UG.FTS.B,
29.49%,
1/20/24
..
251
254
991569938.UG.FTS.B,
29.49%,
1/20/24
..
81
82
991570061.UG.FTS.B,
29.49%,
1/20/24
..
139
141
991570850.UG.FTS.B,
29.49%,
1/20/24
..
72
5
991572060.UG.FTS.B,
29.49%,
1/20/24
..
39
6
991572399.UG.FTS.B,
29.49%,
1/20/24
..
32
32
991572520.UG.FTS.B,
29.49%,
1/20/24
..
103
105
991572954.UG.FTS.B,
29.49%,
1/20/24
..
662
676
991573325.UG.FTS.B,
29.49%,
1/20/24
..
54
54
991575505.UG.FTS.B,
29.49%,
1/20/24
..
907
908
991575740.UG.FTS.B,
29.49%,
1/20/24
..
66
67
991575903.UG.FTS.B,
29.49%,
1/20/24
..
617
627
991576674.UG.FTS.B,
29.49%,
1/20/24
..
77
78
991577203.UG.FTS.B,
29.49%,
1/20/24
..
48
41
991577291.UG.FTS.B,
29.49%,
1/20/24
..
18
18
991577337.UG.FTS.B,
29.49%,
1/20/24
..
330
336
991578709.UG.FTS.B,
29.49%,
1/20/24
..
200
199
991579389.UG.FTS.B,
29.49%,
1/20/24
..
176
179
991579802.UG.FTS.B,
29.49%,
1/20/24
..
197
201
991579854.UG.FTS.B,
29.49%,
1/20/24
..
130
18
991581328.UG.FTS.B,
29.49%,
1/20/24
..
64
66
991583490.UG.FTS.B,
29.49%,
1/20/24
..
168
12
991583578.UG.FTS.B,
29.49%,
1/20/24
..
47
47
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
114
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991585106.UG.FTS.B,
29.49%,
1/20/24
..
$
77
$
5
991585183.UG.FTS.B,
29.49%,
1/20/24
..
73
74
991585222.UG.FTS.B,
29.49%,
1/20/24
..
46
47
991585361.UG.FTS.B,
29.49%,
1/20/24
..
187
189
991586778.UG.FTS.B,
29.49%,
1/20/24
..
21
21
991586788.UG.FTS.B,
29.49%,
1/20/24
..
38
38
991587497.UG.FTS.B,
29.49%,
1/20/24
..
886
902
991587720.UG.FTS.B,
29.49%,
1/20/24
..
18
18
991588116.UG.FTS.B,
29.49%,
1/20/24
..
40
40
991588289.UG.FTS.B,
29.49%,
1/20/24
..
109
9
991588825.UG.FTS.B,
29.49%,
1/20/24
..
132
134
991588849.UG.FTS.B,
29.49%,
1/20/24
..
341
348
991589053.UG.FTS.B,
29.49%,
1/20/24
..
148
149
991589138.UG.FTS.B,
29.49%,
1/20/24
..
60
60
991591243.UG.FTS.B,
29.49%,
1/20/24
..
177
175
991592194.UG.FTS.B,
29.49%,
1/20/24
..
151
22
991592314.UG.FTS.B,
29.49%,
1/20/24
..
40
40
991592580.UG.FTS.B,
29.49%,
1/20/24
..
49
49
991593009.UG.FTS.B,
29.49%,
1/20/24
..
96
98
991593482.UG.FTS.B,
29.49%,
1/20/24
..
107
81
991593821.UG.FTS.B,
29.49%,
1/20/24
..
252
37
991595921.UG.FTS.B,
29.49%,
1/20/24
..
88
90
991597626.UG.FTS.B,
29.49%,
1/20/24
..
835
851
991597653.UG.FTS.B,
29.49%,
1/20/24
..
205
208
991598266.UG.FTS.B,
29.49%,
1/20/24
..
279
284
991598468.UG.FTS.B,
29.49%,
1/20/24
..
66
67
991598552.UG.FTS.B,
29.49%,
1/20/24
..
163
166
991600264.UG.FTS.B,
29.49%,
1/20/24
..
498
508
991601031.UG.FTS.B,
29.49%,
1/20/24
..
323
328
991601123.UG.FTS.B,
29.49%,
1/20/24
..
380
387
991601688.UG.FTS.B,
29.49%,
1/20/24
..
253
257
991603595.UG.FTS.B,
29.49%,
1/20/24
..
166
169
991604353.UG.FTS.B,
29.49%,
1/20/24
..
37
37
991608039.UG.FTS.B,
29.49%,
1/20/24
..
52
51
991608834.UG.FTS.B,
29.49%,
1/20/24
..
202
206
991610039.UG.FTS.B,
29.49%,
1/20/24
..
53
45
991610831.UG.FTS.B,
29.49%,
1/20/24
..
99
101
991611241.UG.FTS.B,
29.49%,
1/20/24
..
182
185
991612399.UG.FTS.B,
29.49%,
1/20/24
..
347
352
991612448.UG.FTS.B,
29.49%,
1/20/24
..
142
145
991612790.UG.FTS.B,
29.49%,
1/20/24
..
104
106
991613037.UG.FTS.B,
29.49%,
1/20/24
..
53
54
991614479.UG.FTS.B,
29.49%,
1/20/24
..
60
5
991616120.UG.FTS.B,
29.49%,
1/20/24
..
67
67
991617558.UG.FTS.B,
29.49%,
1/20/24
..
485
494
991619508.UG.FTS.B,
29.49%,
1/20/24
..
31
31
991620017.UG.FTS.B,
29.49%,
1/20/24
..
72
58
991620427.UG.FTS.B,
29.49%,
1/20/24
..
75
74
991621373.UG.FTS.B,
29.49%,
1/20/24
..
129
131
991622812.UG.FTS.B,
29.49%,
1/20/24
..
49
50
991623752.UG.FTS.B,
29.49%,
1/20/24
..
566
568
991624921.UG.FTS.B,
29.49%,
1/20/24
..
51
51
991628891.UG.FTS.B,
29.49%,
1/20/24
..
37
37
991629452.UG.FTS.B,
29.49%,
1/20/24
..
412
420
991630097.UG.FTS.B,
29.49%,
1/20/24
..
155
158
991630527.UG.FTS.B,
29.49%,
1/20/24
..
4
4
991630651.UG.FTS.B,
29.49%,
1/20/24
..
26
27
991631733.UG.FTS.B,
29.49%,
1/20/24
..
369
376
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991631740.UG.FTS.B,
29.49%,
1/20/24
..
$
424
$
426
991633536.UG.FTS.B,
29.49%,
1/20/24
..
52
52
991634055.UG.FTS.B,
29.49%,
1/20/24
..
263
267
991636984.UG.FTS.B,
29.49%,
1/20/24
..
15
15
991638534.UG.FTS.B,
29.49%,
1/20/24
..
67
68
991638792.UG.FTS.B,
29.49%,
1/20/24
..
50
51
991638936.UG.FTS.B,
29.49%,
1/20/24
..
100
102
991642104.UG.FTS.B,
29.49%,
1/20/24
..
96
98
991642333.UG.FTS.B,
29.49%,
1/20/24
..
87
87
991644245.UG.FTS.B,
29.49%,
1/20/24
..
208
14
991644578.UG.FTS.B,
29.49%,
1/20/24
..
645
643
991645038.UG.FTS.B,
29.49%,
1/20/24
..
39
39
991647492.UG.FTS.B,
29.49%,
1/20/24
..
21
21
991648153.UG.FTS.B,
29.49%,
1/20/24
..
383
389
991648571.UG.FTS.B,
29.49%,
1/20/24
..
80
81
991650219.UG.FTS.B,
29.49%,
1/20/24
..
62
(2)
991651171.UG.FTS.B,
29.49%,
1/20/24
..
77
78
991655398.UG.FTS.B,
29.49%,
1/20/24
..
336
343
991662686.UG.FTS.B,
29.49%,
1/20/24
..
223
227
991664280.UG.FTS.B,
29.49%,
1/20/24
..
15
15
991664444.UG.FTS.B,
29.49%,
1/20/24
..
77
79
991664772.UG.FTS.B,
29.49%,
1/20/24
..
1,183
(44)
991665332.UG.FTS.B,
29.49%,
1/20/24
..
322
328
991667531.UG.FTS.B,
29.49%,
1/20/24
..
341
343
991668118.UG.FTS.B,
29.49%,
1/20/24
..
16
16
991670414.UG.FTS.B,
29.49%,
1/20/24
..
9
9
991673351.UG.FTS.B,
29.49%,
1/20/24
..
50
50
991673779.UG.FTS.B,
29.49%,
1/20/24
..
135
136
991674489.UG.FTS.B,
29.49%,
1/20/24
..
451
459
991676890.UG.FTS.B,
29.49%,
1/20/24
..
3
3
991677407.UG.FTS.B,
29.49%,
1/20/24
..
123
123
991678755.UG.FTS.B,
29.49%,
1/20/24
..
10
10
991678827.UG.FTS.B,
29.49%,
1/20/24
..
285
285
991682318.UG.FTS.B,
29.49%,
1/20/24
..
197
195
991683321.UG.FTS.B,
29.49%,
1/20/24
..
803
817
991685152.UG.FTS.B,
29.49%,
1/20/24
..
49
50
991685389.UG.FTS.B,
29.49%,
1/20/24
..
9
8
991689170.UG.FTS.B,
29.49%,
1/20/24
..
77
79
991691631.UG.FTS.B,
29.49%,
1/20/24
..
704
567
991691915.UG.FTS.B,
29.49%,
1/20/24
..
16
16
991692076.UG.FTS.B,
29.49%,
1/20/24
..
74
74
991695535.UG.FTS.B,
29.49%,
1/20/24
..
874
64
991695616.UG.FTS.B,
29.49%,
1/20/24
..
5
5
991695976.UG.FTS.B,
29.49%,
1/20/24
..
120
121
991697236.UG.FTS.B,
29.49%,
1/20/24
..
321
326
991697324.UG.FTS.B,
29.49%,
1/20/24
..
44
44
991698513.UG.FTS.B,
29.49%,
1/20/24
..
10
10
991699556.UG.FTS.B,
29.49%,
1/20/24
..
1,167
1,162
991701120.UG.FTS.B,
29.49%,
1/20/24
..
174
12
991701454.UG.FTS.B,
29.49%,
1/20/24
..
241
239
991705848.UG.FTS.B,
29.49%,
1/20/24
..
13
13
991706145.UG.FTS.B,
29.49%,
1/20/24
..
137
138
991708222.UG.FTS.B,
29.49%,
1/20/24
..
45
45
991709888.UG.FTS.B,
29.49%,
1/20/24
..
143
143
991709935.UG.FTS.B,
29.49%,
1/20/24
..
518
521
991711876.UG.FTS.B,
29.49%,
1/20/24
..
53
54
991713015.UG.FTS.B,
29.49%,
1/20/24
..
107
106
991713832.UG.FTS.B,
29.49%,
1/20/24
..
5
5
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
115
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991715260.UG.FTS.B,
29.49%,
1/20/24
..
$
29
$
30
991717301.UG.FTS.B,
29.49%,
1/20/24
..
295
297
991719630.UG.FTS.B,
29.49%,
1/20/24
..
175
132
991720995.UG.FTS.B,
29.49%,
1/20/24
..
108
109
991721227.UG.FTS.B,
29.49%,
1/20/24
..
80
81
991726781.UG.FTS.B,
29.49%,
1/20/24
..
105
106
991730813.UG.FTS.B,
29.49%,
1/20/24
..
160
161
991733962.UG.FTS.B,
29.49%,
1/20/24
..
18
18
991734314.UG.FTS.B,
29.49%,
1/20/24
..
365
367
991734330.UG.FTS.B,
29.49%,
1/20/24
..
75
75
991734632.UG.FTS.B,
29.49%,
1/20/24
..
96
96
991734917.UG.FTS.B,
29.49%,
1/20/24
..
27
27
991739160.UG.FTS.B,
29.49%,
1/20/24
..
49
49
991740784.UG.FTS.B,
29.49%,
1/20/24
..
239
241
991741702.UG.FTS.B,
29.49%,
1/20/24
..
180
178
991742956.UG.FTS.B,
29.49%,
1/20/24
..
27
27
991748931.UG.FTS.B,
29.49%,
1/20/24
..
127
128
991749058.UG.FTS.B,
29.49%,
1/20/24
..
120
120
991750028.UG.FTS.B,
29.49%,
1/20/24
..
160
160
991753131.UG.FTS.B,
29.49%,
1/20/24
..
71
70
991753534.UG.FTS.B,
29.49%,
1/20/24
..
58
59
991757872.UG.FTS.B,
29.49%,
1/20/24
..
75
76
991758242.UG.FTS.B,
29.49%,
1/20/24
..
620
51
991761410.UG.FTS.B,
29.49%,
1/20/24
..
103
103
991763039.UG.FTS.B,
29.49%,
1/20/24
..
257
258
991764702.UG.FTS.B,
29.49%,
1/20/24
..
34
35
991765334.UG.FTS.B,
29.49%,
1/20/24
..
87
87
991765425.UG.FTS.B,
29.49%,
1/20/24
..
218
(10)
991766289.UG.FTS.B,
29.49%,
1/20/24
..
10
10
991769883.UG.FTS.B,
29.49%,
1/20/24
..
14
14
991782567.UG.FTS.B,
29.49%,
1/20/24
..
300
21
991782660.UG.FTS.B,
29.49%,
1/20/24
..
80
80
991784506.UG.FTS.B,
29.49%,
1/20/24
..
87
88
991790149.UG.FTS.B,
29.49%,
1/20/24
..
30
30
991790198.UG.FTS.B,
29.49%,
1/20/24
..
139
139
991756970.UG.FTS.B,
29.98%,
1/20/24
..
5
5
991662956.UG.FTS.B,
Zero
Cpn,
1/21/24
.
108
–
991695880.UG.FTS.B,
Zero
Cpn,
1/21/24
.
89
–
991700144.UG.FTS.B,
Zero
Cpn,
1/21/24
.
372
–
991738034.UG.FTS.B,
18.47%,
1/21/24
..
194
195
991742379.UG.FTS.B,
18.47%,
1/21/24
..
31
31
991750733.UG.FTS.B,
19.99%,
1/21/24
..
101
102
991692614.UG.FTS.B,
20.47%,
1/21/24
..
39
39
991782326.UG.FTS.B,
20.96%,
1/21/24
..
21
21
991663159.UG.FTS.B,
21.48%,
1/21/24
..
23
23
991729600.UG.FTS.B,
21.48%,
1/21/24
..
196
198
991767885.UG.FTS.B,
21.48%,
1/21/24
..
75
76
991741170.UG.FTS.B,
22.45%,
1/21/24
..
98
99
991794845.UG.FTS.B,
22.47%,
1/21/24
..
614
617
991709231.UG.FTS.B,
23.45%,
1/21/24
..
128
129
991788297.UG.FTS.B,
23.45%,
1/21/24
..
20
20
991762477.UG.FTS.B,
24.45%,
1/21/24
..
148
11
991669352.UG.FTS.B,
26.49%,
1/21/24
..
89
67
991671256.UG.FTS.B,
28.48%,
1/21/24
..
14
14
991677773.UG.FTS.B,
28.48%,
1/21/24
..
89
91
991693706.UG.FTS.B,
28.48%,
1/21/24
..
193
196
991693767.UG.FTS.B,
28.48%,
1/21/24
..
68
68
991705146.UG.FTS.B,
28.48%,
1/21/24
..
76
76
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991711024.UG.FTS.B,
28.48%,
1/21/24
..
$
224
$
224
991723171.UG.FTS.B,
28.48%,
1/21/24
..
239
242
991723414.UG.FTS.B,
28.48%,
1/21/24
..
378
382
991730921.UG.FTS.B,
28.48%,
1/21/24
..
450
454
991731530.UG.FTS.B,
28.48%,
1/21/24
..
398
402
991753814.UG.FTS.B,
28.48%,
1/21/24
..
13
13
991782284.UG.FTS.B,
28.48%,
1/21/24
..
18
19
991784545.UG.FTS.B,
28.48%,
1/21/24
..
104
105
991702778.UG.FTS.B,
29.48%,
1/21/24
..
132
135
991703577.UG.FTS.B,
29.48%,
1/21/24
..
529
541
991709023.UG.FTS.B,
29.48%,
1/21/24
..
136
137
991730501.UG.FTS.B,
29.48%,
1/21/24
..
537
537
991738870.UG.FTS.B,
29.48%,
1/21/24
..
34
34
991751249.UG.FTS.B,
29.48%,
1/21/24
..
20
20
991756563.UG.FTS.B,
29.48%,
1/21/24
..
133
134
991777145.UG.FTS.B,
29.48%,
1/21/24
..
131
10
991633202.UG.FTS.B,
29.49%,
1/21/24
..
128
131
991662829.UG.FTS.B,
29.49%,
1/21/24
..
57
58
991663489.UG.FTS.B,
29.49%,
1/21/24
..
131
132
991664100.UG.FTS.B,
29.49%,
1/21/24
..
37
37
991665955.UG.FTS.B,
29.49%,
1/21/24
..
47
3
991668162.UG.FTS.B,
29.49%,
1/21/24
..
42
42
991668483.UG.FTS.B,
29.49%,
1/21/24
..
33
3
991669590.UG.FTS.B,
29.49%,
1/21/24
..
74
76
991670212.UG.FTS.B,
29.49%,
1/21/24
..
69
70
991670452.UG.FTS.B,
29.49%,
1/21/24
..
242
243
991672118.UG.FTS.B,
29.49%,
1/21/24
..
312
314
991672853.UG.FTS.B,
29.49%,
1/21/24
..
44
45
991673090.UG.FTS.B,
29.49%,
1/21/24
..
38
38
991674019.UG.FTS.B,
29.49%,
1/21/24
..
97
24
991674358.UG.FTS.B,
29.49%,
1/21/24
..
420
37
991676471.UG.FTS.B,
29.49%,
1/21/24
..
23
23
991677244.UG.FTS.B,
29.49%,
1/21/24
..
203
207
991680867.UG.FTS.B,
29.49%,
1/21/24
..
154
157
991680983.UG.FTS.B,
29.49%,
1/21/24
..
96
97
991681379.UG.FTS.B,
29.49%,
1/21/24
..
308
24
991683221.UG.FTS.B,
29.49%,
1/21/24
..
175
173
991687038.UG.FTS.B,
29.49%,
1/21/24
..
38
38
991688837.UG.FTS.B,
29.49%,
1/21/24
..
482
491
991689800.UG.FTS.B,
29.49%,
1/21/24
..
129
132
991691567.UG.FTS.B,
29.49%,
1/21/24
..
253
256
991692064.UG.FTS.B,
29.49%,
1/21/24
..
109
109
991692483.UG.FTS.B,
29.49%,
1/21/24
..
10
10
991693634.UG.FTS.B,
29.49%,
1/21/24
..
110
111
991694165.UG.FTS.B,
29.49%,
1/21/24
..
29
29
991694337.UG.FTS.B,
29.49%,
1/21/24
..
20
20
991694645.UG.FTS.B,
29.49%,
1/21/24
..
205
209
991695164.UG.FTS.B,
29.49%,
1/21/24
..
236
235
991695945.UG.FTS.B,
29.49%,
1/21/24
..
33
33
991696264.UG.FTS.B,
29.49%,
1/21/24
..
252
256
991698072.UG.FTS.B,
29.49%,
1/21/24
..
100
99
991699892.UG.FTS.B,
29.49%,
1/21/24
..
99
14
991701379.UG.FTS.B,
29.49%,
1/21/24
..
68
69
991702123.UG.FTS.B,
29.49%,
1/21/24
..
383
386
991703953.UG.FTS.B,
29.49%,
1/21/24
..
168
171
991704641.UG.FTS.B,
29.49%,
1/21/24
..
364
365
991705635.UG.FTS.B,
29.49%,
1/21/24
..
272
277
991706927.UG.FTS.B,
29.49%,
1/21/24
..
102
102
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
116
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991711423.UG.FTS.B,
29.49%,
1/21/24
..
$
563
$
568
991713176.UG.FTS.B,
29.49%,
1/21/24
..
34
34
991715638.UG.FTS.B,
29.49%,
1/21/24
..
301
21
991716207.UG.FTS.B,
29.49%,
1/21/24
..
130
131
991717827.UG.FTS.B,
29.49%,
1/21/24
..
398
397
991717854.UG.FTS.B,
29.49%,
1/21/24
..
96
98
991718420.UG.FTS.B,
29.49%,
1/21/24
..
176
132
991721760.UG.FTS.B,
29.49%,
1/21/24
..
444
445
991726827.UG.FTS.B,
29.49%,
1/21/24
..
101
102
991727146.UG.FTS.B,
29.49%,
1/21/24
..
119
120
991727637.UG.FTS.B,
29.49%,
1/21/24
..
44
44
991727684.UG.FTS.B,
29.49%,
1/21/24
..
34
34
991730534.UG.FTS.B,
29.49%,
1/21/24
..
120
120
991731721.UG.FTS.B,
29.49%,
1/21/24
..
888
128
991732216.UG.FTS.B,
29.49%,
1/21/24
..
69
69
991733904.UG.FTS.B,
29.49%,
1/21/24
..
354
355
991737559.UG.FTS.B,
29.49%,
1/21/24
..
210
212
991737693.UG.FTS.B,
29.49%,
1/21/24
..
4
4
991740725.UG.FTS.B,
29.49%,
1/21/24
..
360
363
991741282.UG.FTS.B,
29.49%,
1/21/24
..
28
28
991741497.UG.FTS.B,
29.49%,
1/21/24
..
242
243
991743085.UG.FTS.B,
29.49%,
1/21/24
..
106
106
991743560.UG.FTS.B,
29.49%,
1/21/24
..
70
71
991744629.UG.FTS.B,
29.49%,
1/21/24
..
80
80
991745718.UG.FTS.B,
29.49%,
1/21/24
..
92
92
991747055.UG.FTS.B,
29.49%,
1/21/24
..
236
236
991747057.UG.FTS.B,
29.49%,
1/21/24
..
42
42
991747988.UG.FTS.B,
29.49%,
1/21/24
..
62
62
991749304.UG.FTS.B,
29.49%,
1/21/24
..
63
50
991749903.UG.FTS.B,
29.49%,
1/21/24
..
788
794
991751438.UG.FTS.B,
29.49%,
1/21/24
..
37
37
991752947.UG.FTS.B,
29.49%,
1/21/24
..
78
78
991753846.UG.FTS.B,
29.49%,
1/21/24
..
135
137
991754747.UG.FTS.B,
29.49%,
1/21/24
..
95
7
991761541.UG.FTS.B,
29.49%,
1/21/24
..
159
160
991764516.UG.FTS.B,
29.49%,
1/21/24
..
56
57
991764924.UG.FTS.B,
29.49%,
1/21/24
..
200
150
991765169.UG.FTS.B,
29.49%,
1/21/24
..
293
20
991766424.UG.FTS.B,
29.49%,
1/21/24
..
52
52
991773483.UG.FTS.B,
29.49%,
1/21/24
..
112
112
991777657.UG.FTS.B,
29.49%,
1/21/24
..
53
54
991782683.UG.FTS.B,
29.49%,
1/21/24
..
637
642
991783245.UG.FTS.B,
29.49%,
1/21/24
..
62
63
991783756.UG.FTS.B,
29.49%,
1/21/24
..
328
23
991792435.UG.FTS.B,
29.49%,
1/21/24
..
1,193
1,204
991797353.UG.FTS.B,
29.49%,
1/21/24
..
38
38
991709002.UG.FTS.B,
15%,
1/22/24
.....
78
79
991706603.UG.FTS.B,
15.47%,
1/22/24
..
23
23
991629665.UG.FTS.B,
18.71%,
1/22/24
..
464
471
991651259.UG.FTS.B,
18.71%,
1/22/24
..
119
121
991651374.UG.FTS.B,
18.71%,
1/22/24
..
69
69
991739678.UG.FTS.B,
18.71%,
1/22/24
..
227
230
991769793.UG.FTS.B,
18.71%,
1/22/24
..
22
22
991660263.UG.FTS.B,
19.3%,
1/22/24
...
261
265
991789404.UG.FTS.B,
19.8%,
1/22/24
...
5
5
991635081.UG.FTS.B,
19.96%,
1/22/24
..
316
320
991650062.UG.FTS.B,
19.99%,
1/22/24
..
28
28
991626851.UG.FTS.B,
20.47%,
1/22/24
..
–
–
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991710107.UG.FTS.B,
20.47%,
1/22/24
..
$
5
$
5
991712989.UG.FTS.B,
20.47%,
1/22/24
..
230
232
991775322.UG.FTS.B,
20.47%,
1/22/24
..
118
118
991783332.UG.FTS.B,
20.47%,
1/22/24
..
391
394
991663050.UG.FTS.B,
20.96%,
1/22/24
..
456
459
991774181.UG.FTS.B,
20.96%,
1/22/24
..
188
190
991780816.UG.FTS.B,
20.96%,
1/22/24
..
94
95
991651393.UG.FTS.B,
21.48%,
1/22/24
..
346
352
991654213.UG.FTS.B,
21.48%,
1/22/24
..
384
387
991705819.UG.FTS.B,
21.48%,
1/22/24
..
288
198
991721409.UG.FTS.B,
21.48%,
1/22/24
..
66
67
991756912.UG.FTS.B,
21.48%,
1/22/24
..
92
92
991632464.UG.FTS.B,
22.47%,
1/22/24
..
638
45
991765596.UG.FTS.B,
22.47%,
1/22/24
..
71
72
991779844.UG.FTS.B,
22.47%,
1/22/24
..
52
52
991805093.UG.FTS.B,
22.47%,
1/22/24
..
200
14
991699664.UG.FTS.B,
25.45%,
1/22/24
..
73
73
991787514.UG.FTS.B,
26.44%,
1/22/24
..
82
6
991631012.UG.FTS.B,
28.48%,
1/22/24
..
141
143
991642188.UG.FTS.B,
28.48%,
1/22/24
..
168
172
991645563.UG.FTS.B,
28.48%,
1/22/24
..
446
456
991662739.UG.FTS.B,
28.48%,
1/22/24
..
177
181
991668823.UG.FTS.B,
28.48%,
1/22/24
..
211
215
991672489.UG.FTS.B,
28.48%,
1/22/24
..
57
56
991684285.UG.FTS.B,
28.48%,
1/22/24
..
42
42
991725934.UG.FTS.B,
28.48%,
1/22/24
..
101
102
991637365.UG.FTS.B,
29.48%,
1/22/24
..
110
112
991639954.UG.FTS.B,
29.48%,
1/22/24
..
148
152
991639216.UG.FTS.B,
29.49%,
1/22/24
..
7
7
991640077.UG.FTS.B,
29.49%,
1/22/24
..
0
0
991641531.UG.FTS.B,
29.49%,
1/22/24
..
442
446
991649089.UG.FTS.B,
29.49%,
1/22/24
..
999
1,021
991650586.UG.FTS.B,
29.49%,
1/22/24
..
36
36
991659080.UG.FTS.B,
29.49%,
1/22/24
..
1
1
991660122.UG.FTS.B,
29.49%,
1/22/24
..
82
83
991660601.UG.FTS.B,
29.49%,
1/22/24
..
76
76
991669713.UG.FTS.B,
29.49%,
1/22/24
..
35
35
991672504.UG.FTS.B,
29.49%,
1/22/24
..
1,326
1,347
991681193.UG.FTS.B,
29.49%,
1/22/24
..
5
5
991681500.UG.FTS.B,
29.49%,
1/22/24
..
34
34
991684648.UG.FTS.B,
29.49%,
1/22/24
..
135
136
991688463.UG.FTS.B,
29.49%,
1/22/24
..
20
21
991688852.UG.FTS.B,
29.49%,
1/22/24
..
0
0
991692165.UG.FTS.B,
29.49%,
1/22/24
..
49
49
991695398.UG.FTS.B,
29.49%,
1/22/24
..
10
10
991696271.UG.FTS.B,
29.49%,
1/22/24
..
848
865
991698780.UG.FTS.B,
29.49%,
1/22/24
..
5
5
991709431.UG.FTS.B,
29.49%,
1/22/24
..
80
80
991709501.UG.FTS.B,
29.49%,
1/22/24
..
29
30
991722363.UG.FTS.B,
29.49%,
1/22/24
..
120
123
991722481.UG.FTS.B,
29.49%,
1/22/24
..
115
117
991723437.UG.FTS.B,
29.49%,
1/22/24
..
103
104
991734177.UG.FTS.B,
29.49%,
1/22/24
..
124
125
991749875.UG.FTS.B,
29.49%,
1/22/24
..
14
14
991750988.UG.FTS.B,
29.49%,
1/22/24
..
88
7
991753916.UG.FTS.B,
29.49%,
1/22/24
..
574
573
991754101.UG.FTS.B,
29.49%,
1/22/24
..
14
14
991759109.UG.FTS.B,
29.49%,
1/22/24
..
8
8
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
117
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991765647.UG.FTS.B,
29.49%,
1/22/24
..
$
266
$
266
991766286.UG.FTS.B,
29.49%,
1/22/24
..
32
32
991772721.UG.FTS.B,
29.49%,
1/22/24
..
1,675
1,680
991777744.UG.FTS.B,
29.49%,
1/22/24
..
43
14
991778279.UG.FTS.B,
29.49%,
1/22/24
..
18
18
991781280.UG.FTS.B,
29.49%,
1/22/24
..
15
15
991784913.UG.FTS.B,
29.49%,
1/22/24
..
100
77
991786882.UG.FTS.B,
29.49%,
1/22/24
..
28
28
991788968.UG.FTS.B,
29.49%,
1/22/24
..
292
294
991796239.UG.FTS.B,
29.49%,
1/22/24
..
401
400
991804043.UG.FTS.B,
29.49%,
1/22/24
..
16
16
991808260.UG.FTS.B,
29.49%,
1/22/24
..
49
49
991809949.UG.FTS.B,
29.49%,
1/22/24
..
289
68
991749140.UG.FTS.B,
Zero
Cpn,
1/23/24
.
140
–
991662997.UG.FTS.B,
16.49%,
1/23/24
..
138
11
991676903.UG.FTS.B,
18.47%,
1/23/24
..
102
103
991685683.UG.FTS.B,
18.47%,
1/23/24
..
136
137
991774569.UG.FTS.B,
18.47%,
1/23/24
..
90
91
991658503.UG.FTS.B,
18.71%,
1/23/24
..
11
11
991741689.UG.FTS.B,
18.71%,
1/23/24
..
2
2
991629162.UG.FTS.B,
19.3%,
1/23/24
...
49
49
991642674.UG.FTS.B,
19.3%,
1/23/24
...
86
87
991643208.UG.FTS.B,
19.3%,
1/23/24
...
191
193
991784139.UG.FTS.B,
19.3%,
1/23/24
...
1,933
1,951
991785256.UG.FTS.B,
19.3%,
1/23/24
...
108
109
991810762.UG.FTS.B,
19.96%,
1/23/24
..
782
789
991646006.UG.FTS.B,
20.47%,
1/23/24
..
97
98
991684036.UG.FTS.B,
20.47%,
1/23/24
..
7
7
991772621.UG.FTS.B,
20.96%,
1/23/24
..
157
158
991802095.UG.FTS.B,
20.96%,
1/23/24
..
726
730
991651727.UG.FTS.B,
21.48%,
1/23/24
..
80
81
991730828.UG.FTS.B,
22.47%,
1/23/24
..
316
320
991739009.UG.FTS.B,
22.47%,
1/23/24
..
404
406
991668916.UG.FTS.B,
23.45%,
1/23/24
..
22
22
991678989.UG.FTS.B,
23.45%,
1/23/24
..
205
205
991738725.UG.FTS.B,
23.45%,
1/23/24
..
8
8
991764966.UG.FTS.B,
23.45%,
1/23/24
..
81
81
991805841.UG.FTS.B,
24.45%,
1/23/24
..
115
115
991649840.UG.FTS.B,
25.45%,
1/23/24
..
125
126
991663622.UG.FTS.B,
25.45%,
1/23/24
..
159
159
991818241.UG.FTS.B,
25.45%,
1/23/24
..
25
25
991637815.UG.FTS.B,
26.44%,
1/23/24
..
964
964
991725080.UG.FTS.B,
27.95%,
1/23/24
..
103
103
991767100.UG.FTS.B,
27.99%,
1/23/24
..
77
77
991818118.UG.FTS.B,
27.99%,
1/23/24
..
57
58
991631116.UG.FTS.B,
28.48%,
1/23/24
..
134
135
991686637.UG.FTS.B,
28.48%,
1/23/24
..
285
289
991692289.UG.FTS.B,
28.48%,
1/23/24
..
74
74
991710024.UG.FTS.B,
28.48%,
1/23/24
..
291
294
991710331.UG.FTS.B,
28.48%,
1/23/24
..
42
43
991730901.UG.FTS.B,
28.48%,
1/23/24
..
948
951
991743333.UG.FTS.B,
28.48%,
1/23/24
..
52
52
991761044.UG.FTS.B,
28.48%,
1/23/24
..
35
35
991798676.UG.FTS.B,
28.48%,
1/23/24
..
103
104
991635388.UG.FTS.B,
29.48%,
1/23/24
..
554
562
991661160.UG.FTS.B,
29.48%,
1/23/24
..
115
115
991661629.UG.FTS.B,
29.48%,
1/23/24
..
25
25
991678696.UG.FTS.B,
29.48%,
1/23/24
..
192
194
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991789898.UG.FTS.B,
29.48%,
1/23/24
..
$
30
$
30
991807034.UG.FTS.B,
29.48%,
1/23/24
..
138
139
991809474.UG.FTS.B,
29.48%,
1/23/24
..
163
165
991631438.UG.FTS.B,
29.49%,
1/23/24
..
27
28
991634459.UG.FTS.B,
29.49%,
1/23/24
..
404
410
991637143.UG.FTS.B,
29.49%,
1/23/24
..
166
170
991653477.UG.FTS.B,
29.49%,
1/23/24
..
127
128
991655971.UG.FTS.B,
29.49%,
1/23/24
..
140
144
991660994.UG.FTS.B,
29.49%,
1/23/24
..
91
91
991661636.UG.FTS.B,
29.49%,
1/23/24
..
64
65
991662802.UG.FTS.B,
29.49%,
1/23/24
..
1,321
1,325
991662886.UG.FTS.B,
29.49%,
1/23/24
..
48
48
991663431.UG.FTS.B,
29.49%,
1/23/24
..
105
105
991666530.UG.FTS.B,
29.49%,
1/23/24
..
305
24
991669440.UG.FTS.B,
29.49%,
1/23/24
..
36
37
991675288.UG.FTS.B,
29.49%,
1/23/24
..
243
245
991681725.UG.FTS.B,
29.49%,
1/23/24
..
80
82
991682766.UG.FTS.B,
29.49%,
1/23/24
..
304
231
991683741.UG.FTS.B,
29.49%,
1/23/24
..
29
5
991683781.UG.FTS.B,
29.49%,
1/23/24
..
34
30
991701176.UG.FTS.B,
29.49%,
1/23/24
..
98
99
991702141.UG.FTS.B,
29.49%,
1/23/24
..
42
43
991707605.UG.FTS.B,
29.49%,
1/23/24
..
17
18
991714113.UG.FTS.B,
29.49%,
1/23/24
..
38
38
991714944.UG.FTS.B,
29.49%,
1/23/24
..
109
110
991724292.UG.FTS.B,
29.49%,
1/23/24
..
344
83
991731407.UG.FTS.B,
29.49%,
1/23/24
..
1,603
1,639
991731683.UG.FTS.B,
29.49%,
1/23/24
..
641
654
991732340.UG.FTS.B,
29.49%,
1/23/24
..
137
138
991744187.UG.FTS.B,
29.49%,
1/23/24
..
156
157
991752739.UG.FTS.B,
29.49%,
1/23/24
..
26
26
991759990.UG.FTS.B,
29.49%,
1/23/24
..
63
65
991761329.UG.FTS.B,
29.49%,
1/23/24
..
41
42
991761841.UG.FTS.B,
29.49%,
1/23/24
..
40
40
991762468.UG.FTS.B,
29.49%,
1/23/24
..
19
19
991762601.UG.FTS.B,
29.49%,
1/23/24
..
31
31
991763034.UG.FTS.B,
29.49%,
1/23/24
..
38
39
991763609.UG.FTS.B,
29.49%,
1/23/24
..
29
29
991765579.UG.FTS.B,
29.49%,
1/23/24
..
183
183
991766223.UG.FTS.B,
29.49%,
1/23/24
..
14
14
991766725.UG.FTS.B,
29.49%,
1/23/24
..
44
44
991771610.UG.FTS.B,
29.49%,
1/23/24
..
294
296
991777333.UG.FTS.B,
29.49%,
1/23/24
..
147
147
991778091.UG.FTS.B,
29.49%,
1/23/24
..
5
5
991805214.UG.FTS.B,
29.49%,
1/23/24
..
33
34
991809214.UG.FTS.B,
29.49%,
1/23/24
..
174
142
991718916.UG.FTS.B,
29.98%,
1/23/24
..
18
18
991680616.UG.FTS.B,
Zero
Cpn,
1/24/24
.
28
–
991661331.UG.FTS.B,
16.49%,
1/24/24
..
116
118
991699066.UG.FTS.B,
16.49%,
1/24/24
..
1,471
1,498
991633382.UG.FTS.B,
17.49%,
1/24/24
..
312
317
991647079.UG.FTS.B,
18.71%,
1/24/24
..
16
16
991697456.UG.FTS.B,
18.71%,
1/24/24
..
78
58
991719938.UG.FTS.B,
18.71%,
1/24/24
..
183
186
991671413.UG.FTS.B,
19.99%,
1/24/24
..
38
38
991675898.UG.FTS.B,
19.99%,
1/24/24
..
13
13
991736791.UG.FTS.B,
19.99%,
1/24/24
..
372
272
991758673.UG.FTS.B,
19.99%,
1/24/24
..
348
352
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
118
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991678748.UG.FTS.B,
20.47%,
1/24/24
..
$
195
$
197
991784784.UG.FTS.B,
20.47%,
1/24/24
..
153
20
991697686.UG.FTS.B,
20.96%,
1/24/24
..
14
14
991756155.UG.FTS.B,
21.47%,
1/24/24
..
21
21
991675015.UG.FTS.B,
21.48%,
1/24/24
..
792
802
991693039.UG.FTS.B,
22.47%,
1/24/24
..
222
225
991676936.UG.FTS.B,
27.99%,
1/24/24
..
31
32
991655876.UG.FTS.B,
28.48%,
1/24/24
..
297
301
991679024.UG.FTS.B,
28.48%,
1/24/24
..
409
414
991683577.UG.FTS.B,
28.48%,
1/24/24
..
26
26
991757153.UG.FTS.B,
28.48%,
1/24/24
..
2
2
991758587.UG.FTS.B,
28.48%,
1/24/24
..
28
28
991803895.UG.FTS.B,
28.48%,
1/24/24
..
125
127
991804850.UG.FTS.B,
28.48%,
1/24/24
..
102
103
991583830.UG.FTS.B,
29.48%,
1/24/24
..
2
2
991595875.UG.FTS.B,
29.48%,
1/24/24
..
229
233
991636673.UG.FTS.B,
29.48%,
1/24/24
..
36
36
991666537.UG.FTS.B,
29.48%,
1/24/24
..
42
36
991795779.UG.FTS.B,
29.48%,
1/24/24
..
90
91
991818757.UG.FTS.B,
29.48%,
1/24/24
..
5
5
991575830.UG.FTS.B,
29.49%,
1/24/24
..
848
867
991576816.UG.FTS.B,
29.49%,
1/24/24
..
340
348
991578362.UG.FTS.B,
29.49%,
1/24/24
..
327
327
991578374.UG.FTS.B,
29.49%,
1/24/24
..
210
15
991578487.UG.FTS.B,
29.49%,
1/24/24
..
47
48
991578622.UG.FTS.B,
29.49%,
1/24/24
..
151
10
991591790.UG.FTS.B,
29.49%,
1/24/24
..
388
397
991591971.UG.FTS.B,
29.49%,
1/24/24
..
341
349
991597915.UG.FTS.B,
29.49%,
1/24/24
..
81
82
991619762.UG.FTS.B,
29.49%,
1/24/24
..
40
0
991628575.UG.FTS.B,
29.49%,
1/24/24
..
58
58
991636430.UG.FTS.B,
29.49%,
1/24/24
..
59
60
991638903.UG.FTS.B,
29.49%,
1/24/24
..
–
–
991643713.UG.FTS.B,
29.49%,
1/24/24
..
53
4
991648828.UG.FTS.B,
29.49%,
1/24/24
..
198
198
991650075.UG.FTS.B,
29.49%,
1/24/24
..
580
580
991656328.UG.FTS.B,
29.49%,
1/24/24
..
161
165
991661397.UG.FTS.B,
29.49%,
1/24/24
..
86
86
991664182.UG.FTS.B,
29.49%,
1/24/24
..
82
84
991664401.UG.FTS.B,
29.49%,
1/24/24
..
43
4
991665767.UG.FTS.B,
29.49%,
1/24/24
..
96
98
991668476.UG.FTS.B,
29.49%,
1/24/24
..
408
411
991672296.UG.FTS.B,
29.49%,
1/24/24
..
249
255
991677221.UG.FTS.B,
29.49%,
1/24/24
..
48
48
991677415.UG.FTS.B,
29.49%,
1/24/24
..
45
45
991680656.UG.FTS.B,
29.49%,
1/24/24
..
8
8
991683730.UG.FTS.B,
29.49%,
1/24/24
..
91
0
991685775.UG.FTS.B,
29.49%,
1/24/24
..
99
101
991686888.UG.FTS.B,
29.49%,
1/24/24
..
166
167
991688167.UG.FTS.B,
29.49%,
1/24/24
..
141
143
991694352.UG.FTS.B,
29.49%,
1/24/24
..
70
11
991697780.UG.FTS.B,
29.49%,
1/24/24
..
55
56
991700002.UG.FTS.B,
29.49%,
1/24/24
..
–
–
991700987.UG.FTS.B,
29.49%,
1/24/24
..
392
401
991706072.UG.FTS.B,
29.49%,
1/24/24
..
226
224
991706865.UG.FTS.B,
29.49%,
1/24/24
..
9
9
991711786.UG.FTS.B,
29.49%,
1/24/24
..
940
699
991715487.UG.FTS.B,
29.49%,
1/24/24
..
185
15
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991719521.UG.FTS.B,
29.49%,
1/24/24
..
$
241
$
245
991720702.UG.FTS.B,
29.49%,
1/24/24
..
398
399
991725620.UG.FTS.B,
29.49%,
1/24/24
..
10
10
991729920.UG.FTS.B,
29.49%,
1/24/24
..
86
85
991734337.UG.FTS.B,
29.49%,
1/24/24
..
12
12
991739712.UG.FTS.B,
29.49%,
1/24/24
..
79
81
991743723.UG.FTS.B,
29.49%,
1/24/24
..
5
5
991746557.UG.FTS.B,
29.49%,
1/24/24
..
222
224
991762599.UG.FTS.B,
29.49%,
1/24/24
..
44
45
991764921.UG.FTS.B,
29.49%,
1/24/24
..
36
37
991767615.UG.FTS.B,
29.49%,
1/24/24
..
516
520
991768107.UG.FTS.B,
29.49%,
1/24/24
..
172
171
991775830.UG.FTS.B,
29.49%,
1/24/24
..
123
123
991782107.UG.FTS.B,
29.49%,
1/24/24
..
13
13
991784482.UG.FTS.B,
29.49%,
1/24/24
..
124
125
991786686.UG.FTS.B,
29.49%,
1/24/24
..
12
12
991790063.UG.FTS.B,
29.49%,
1/24/24
..
45
46
991790699.UG.FTS.B,
29.49%,
1/24/24
..
131
131
991791554.UG.FTS.B,
29.49%,
1/24/24
..
24
(1)
991803237.UG.FTS.B,
29.49%,
1/24/24
..
112
(4)
991806718.UG.FTS.B,
29.49%,
1/24/24
..
35
36
991812021.UG.FTS.B,
29.49%,
1/24/24
..
85
85
991822948.UG.FTS.B,
29.49%,
1/24/24
..
26
26
991824433.UG.FTS.B,
29.49%,
1/24/24
..
25
26
991700376.UG.FTS.B,
29.98%,
1/24/24
..
–
–
991642218.UG.FTS.B,
29.99%,
1/24/24
..
86
86
991628742.UG.FTS.B,
15.47%,
1/25/24
..
–
–
991657024.UG.FTS.B,
15.47%,
1/25/24
..
38
39
991690086.UG.FTS.B,
16.49%,
1/25/24
..
368
375
991702421.UG.FTS.B,
16.49%,
1/25/24
..
92
93
991642537.UG.FTS.B,
18.47%,
1/25/24
..
112
114
991651820.UG.FTS.B,
18.47%,
1/25/24
..
15
15
991658713.UG.FTS.B,
18.47%,
1/25/24
..
138
140
991703387.UG.FTS.B,
18.47%,
1/25/24
..
154
11
991755580.UG.FTS.B,
18.47%,
1/25/24
..
150
150
991790759.UG.FTS.B,
18.47%,
1/25/24
..
84
85
991642255.UG.FTS.B,
18.71%,
1/25/24
..
151
153
991712687.UG.FTS.B,
19.3%,
1/25/24
...
156
157
991799549.UG.FTS.B,
19.3%,
1/25/24
...
52
52
991749971.UG.FTS.B,
19.96%,
1/25/24
..
46
47
991783607.UG.FTS.B,
19.96%,
1/25/24
..
160
11
991809710.UG.FTS.B,
19.99%,
1/25/24
..
47
47
991638927.UG.FTS.B,
20.96%,
1/25/24
..
163
165
991794499.UG.FTS.B,
20.96%,
1/25/24
..
28
29
991629183.UG.FTS.B,
21.48%,
1/25/24
..
28
28
991639306.UG.FTS.B,
21.48%,
1/25/24
..
74
75
991661968.UG.FTS.B,
21.48%,
1/25/24
..
298
302
991669996.UG.FTS.B,
21.48%,
1/25/24
..
20
20
991798991.UG.FTS.B,
21.48%,
1/25/24
..
51
52
991782511.UG.FTS.B,
22.45%,
1/25/24
..
350
24
991644518.UG.FTS.B,
22.47%,
1/25/24
..
135
136
991653049.UG.FTS.B,
22.47%,
1/25/24
..
245
248
991665257.UG.FTS.B,
22.47%,
1/25/24
..
105
105
991666345.UG.FTS.B,
22.47%,
1/25/24
..
1,474
1,480
991675457.UG.FTS.B,
22.47%,
1/25/24
..
111
113
991628803.UG.FTS.B,
25.44%,
1/25/24
..
177
178
991630129.UG.FTS.B,
25.45%,
1/25/24
..
62
4
991652053.UG.FTS.B,
26.44%,
1/25/24
..
93
94
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
119
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991677549.UG.FTS.B,
26.44%,
1/25/24
..
$
54
$
43
991741033.UG.FTS.B,
26.44%,
1/25/24
..
514
516
991729257.UG.FTS.B,
27.99%,
1/25/24
..
229
232
991787523.UG.FTS.B,
27.99%,
1/25/24
..
68
54
991631472.UG.FTS.B,
28.48%,
1/25/24
..
162
165
991642002.UG.FTS.B,
28.48%,
1/25/24
..
4
4
991651856.UG.FTS.B,
28.48%,
1/25/24
..
259
265
991668456.UG.FTS.B,
28.48%,
1/25/24
..
93
95
991686175.UG.FTS.B,
28.48%,
1/25/24
..
133
137
991710726.UG.FTS.B,
28.48%,
1/25/24
..
121
124
991766143.UG.FTS.B,
28.48%,
1/25/24
..
302
305
991778236.UG.FTS.B,
28.48%,
1/25/24
..
6
6
991808037.UG.FTS.B,
28.48%,
1/25/24
..
143
145
991808857.UG.FTS.B,
28.48%,
1/25/24
..
140
141
991606137.UG.FTS.B,
29.48%,
1/25/24
..
73
75
991616807.UG.FTS.B,
29.48%,
1/25/24
..
142
146
991677136.UG.FTS.B,
29.48%,
1/25/24
..
66
67
991583140.UG.FTS.B,
29.49%,
1/25/24
..
1,264
(40)
991585669.UG.FTS.B,
29.49%,
1/25/24
..
250
252
991586027.UG.FTS.B,
29.49%,
1/25/24
..
17
17
991589305.UG.FTS.B,
29.49%,
1/25/24
..
258
259
991590828.UG.FTS.B,
29.49%,
1/25/24
..
205
210
991591385.UG.FTS.B,
29.49%,
1/25/24
..
78
78
991599013.UG.FTS.B,
29.49%,
1/25/24
..
150
153
991604373.UG.FTS.B,
29.49%,
1/25/24
..
148
149
991608552.UG.FTS.B,
29.49%,
1/25/24
..
87
86
991612461.UG.FTS.B,
29.49%,
1/25/24
..
221
223
991613759.UG.FTS.B,
29.49%,
1/25/24
..
50
50
991619556.UG.FTS.B,
29.49%,
1/25/24
..
72
73
991630323.UG.FTS.B,
29.49%,
1/25/24
..
113
113
991633158.UG.FTS.B,
29.49%,
1/25/24
..
178
14
991633345.UG.FTS.B,
29.49%,
1/25/24
..
232
238
991633451.UG.FTS.B,
29.49%,
1/25/24
..
241
246
991633646.UG.FTS.B,
29.49%,
1/25/24
..
92
94
991641518.UG.FTS.B,
29.49%,
1/25/24
..
80
80
991644394.UG.FTS.B,
29.49%,
1/25/24
..
30
30
991644473.UG.FTS.B,
29.49%,
1/25/24
..
46
46
991644848.UG.FTS.B,
29.49%,
1/25/24
..
4
4
991645325.UG.FTS.B,
29.49%,
1/25/24
..
140
10
991649590.UG.FTS.B,
29.49%,
1/25/24
..
76
78
991651927.UG.FTS.B,
29.49%,
1/25/24
..
146
149
991654938.UG.FTS.B,
29.49%,
1/25/24
..
808
827
991656780.UG.FTS.B,
29.49%,
1/25/24
..
279
285
991663576.UG.FTS.B,
29.49%,
1/25/24
..
915
923
991671286.UG.FTS.B,
29.49%,
1/25/24
..
526
528
991674159.UG.FTS.B,
29.49%,
1/25/24
..
168
172
991678733.UG.FTS.B,
29.49%,
1/25/24
..
30
3
991679617.UG.FTS.B,
29.49%,
1/25/24
..
7
7
991679898.UG.FTS.B,
29.49%,
1/25/24
..
171
174
991679977.UG.FTS.B,
29.49%,
1/25/24
..
35
35
991686544.UG.FTS.B,
29.49%,
1/25/24
..
101
100
991686636.UG.FTS.B,
29.49%,
1/25/24
..
114
116
991700265.UG.FTS.B,
29.49%,
1/25/24
..
68
69
991700545.UG.FTS.B,
29.49%,
1/25/24
..
55
56
991700798.UG.FTS.B,
29.49%,
1/25/24
..
88
89
991701563.UG.FTS.B,
29.49%,
1/25/24
..
309
314
991703296.UG.FTS.B,
29.49%,
1/25/24
..
117
120
991706569.UG.FTS.B,
29.49%,
1/25/24
..
18
18
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991714482.UG.FTS.B,
29.49%,
1/25/24
..
$
171
$
172
991720724.UG.FTS.B,
29.49%,
1/25/24
..
321
328
991721326.UG.FTS.B,
29.49%,
1/25/24
..
322
326
991726761.UG.FTS.B,
29.49%,
1/25/24
..
423
426
991729432.UG.FTS.B,
29.49%,
1/25/24
..
344
347
991731126.UG.FTS.B,
29.49%,
1/25/24
..
22
3
991731430.UG.FTS.B,
29.49%,
1/25/24
..
119
121
991732382.UG.FTS.B,
29.49%,
1/25/24
..
118
119
991742074.UG.FTS.B,
29.49%,
1/25/24
..
122
122
991742486.UG.FTS.B,
29.49%,
1/25/24
..
113
83
991749150.UG.FTS.B,
29.49%,
1/25/24
..
240
246
991751813.UG.FTS.B,
29.49%,
1/25/24
..
289
289
991751821.UG.FTS.B,
29.49%,
1/25/24
..
133
135
991752680.UG.FTS.B,
29.49%,
1/25/24
..
20
20
991758703.UG.FTS.B,
29.49%,
1/25/24
..
165
166
991761336.UG.FTS.B,
29.49%,
1/25/24
..
103
103
991765463.UG.FTS.B,
29.49%,
1/25/24
..
96
8
991766815.UG.FTS.B,
29.49%,
1/25/24
..
153
153
991769017.UG.FTS.B,
29.49%,
1/25/24
..
134
135
991769275.UG.FTS.B,
29.49%,
1/25/24
..
16
15
991771771.UG.FTS.B,
29.49%,
1/25/24
..
84
84
991771821.UG.FTS.B,
29.49%,
1/25/24
..
501
506
991783583.UG.FTS.B,
29.49%,
1/25/24
..
160
161
991786634.UG.FTS.B,
29.49%,
1/25/24
..
290
292
991786828.UG.FTS.B,
29.49%,
1/25/24
..
73
73
991791507.UG.FTS.B,
29.49%,
1/25/24
..
93
94
991795056.UG.FTS.B,
29.49%,
1/25/24
..
141
142
991797438.UG.FTS.B,
29.49%,
1/25/24
..
19
19
991803082.UG.FTS.B,
29.49%,
1/25/24
..
47
14
991803621.UG.FTS.B,
29.49%,
1/25/24
..
190
191
991806034.UG.FTS.B,
29.49%,
1/25/24
..
66
67
991808090.UG.FTS.B,
29.49%,
1/25/24
..
40
39
991814291.UG.FTS.B,
29.49%,
1/25/24
..
27
27
991816232.UG.FTS.B,
29.49%,
1/25/24
..
76
77
991817482.UG.FTS.B,
29.49%,
1/25/24
..
24
25
991819217.UG.FTS.B,
29.49%,
1/25/24
..
33
33
991820253.UG.FTS.B,
29.49%,
1/25/24
..
77
78
991823032.UG.FTS.B,
29.49%,
1/25/24
..
10
10
991823201.UG.FTS.B,
29.49%,
1/25/24
..
236
237
991828617.UG.FTS.B,
29.49%,
1/25/24
..
71
73
991830948.UG.FTS.B,
29.49%,
1/25/24
..
59
59
991831119.UG.FTS.B,
29.49%,
1/25/24
..
55
55
991831257.UG.FTS.B,
29.49%,
1/25/24
..
15
15
991686043.UG.FTS.B,
29.99%,
1/25/24
..
97
99
991810154.UG.FTS.B,
15.47%,
1/26/24
..
362
365
991593609.UG.FTS.B,
16.49%,
1/26/24
..
140
142
991784174.UG.FTS.B,
16.49%,
1/26/24
..
205
207
991828622.UG.FTS.B,
16.49%,
1/26/24
..
170
172
991727853.UG.FTS.B,
18.47%,
1/26/24
..
30
30
991651717.UG.FTS.B,
19.3%,
1/26/24
...
624
634
991732138.UG.FTS.B,
19.3%,
1/26/24
...
46
46
991633662.UG.FTS.B,
19.96%,
1/26/24
..
160
161
991636818.UG.FTS.B,
19.96%,
1/26/24
..
81
82
991643141.UG.FTS.B,
19.96%,
1/26/24
..
716
722
991671753.UG.FTS.B,
19.96%,
1/26/24
..
205
209
991677228.UG.FTS.B,
19.96%,
1/26/24
..
272
274
991737882.UG.FTS.B,
19.96%,
1/26/24
..
37
38
991759419.UG.FTS.B,
19.96%,
1/26/24
..
137
138
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
120
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991590508.UG.FTS.B,
19.99%,
1/26/24
..
$
103
$
105
991671345.UG.FTS.B,
19.99%,
1/26/24
..
342
345
991679320.UG.FTS.B,
21.48%,
1/26/24
..
196
199
991694604.UG.FTS.B,
21.48%,
1/26/24
..
412
412
991749734.UG.FTS.B,
21.48%,
1/26/24
..
87
88
991633594.UG.FTS.B,
24.45%,
1/26/24
..
25
25
991690882.UG.FTS.B,
25.45%,
1/26/24
..
136
99
991761224.UG.FTS.B,
27.99%,
1/26/24
..
50
8
991782500.UG.FTS.B,
27.99%,
1/26/24
..
56
9
991620819.UG.FTS.B,
28.48%,
1/26/24
..
47
47
991650272.UG.FTS.B,
28.48%,
1/26/24
..
90
92
991660260.UG.FTS.B,
28.48%,
1/26/24
..
459
467
991661075.UG.FTS.B,
28.48%,
1/26/24
..
566
575
991692098.UG.FTS.B,
28.48%,
1/26/24
..
0
0
991699559.UG.FTS.B,
28.48%,
1/26/24
..
159
159
991700697.UG.FTS.B,
28.48%,
1/26/24
..
144
146
991706943.UG.FTS.B,
28.48%,
1/26/24
..
280
284
991719423.UG.FTS.B,
28.48%,
1/26/24
..
319
323
991725862.UG.FTS.B,
28.48%,
1/26/24
..
126
128
991728173.UG.FTS.B,
28.48%,
1/26/24
..
87
89
991737277.UG.FTS.B,
28.48%,
1/26/24
..
121
90
991740916.UG.FTS.B,
28.48%,
1/26/24
..
400
410
991742866.UG.FTS.B,
28.48%,
1/26/24
..
60
62
991795847.UG.FTS.B,
28.48%,
1/26/24
..
41
41
991801021.UG.FTS.B,
28.48%,
1/26/24
..
119
120
991802162.UG.FTS.B,
28.48%,
1/26/24
..
239
242
991826702.UG.FTS.B,
28.48%,
1/26/24
..
245
248
991834361.UG.FTS.B,
28.48%,
1/26/24
..
95
96
991651287.UG.FTS.B,
29.46%,
1/26/24
..
27
27
991620639.UG.FTS.B,
29.48%,
1/26/24
..
627
634
991681325.UG.FTS.B,
29.48%,
1/26/24
..
56
56
991717920.UG.FTS.B,
29.48%,
1/26/24
..
985
1,008
991731025.UG.FTS.B,
29.48%,
1/26/24
..
100
100
991775037.UG.FTS.B,
29.48%,
1/26/24
..
55
56
991589333.UG.FTS.B,
29.49%,
1/26/24
..
112
114
991591784.UG.FTS.B,
29.49%,
1/26/24
..
1,161
924
991592956.UG.FTS.B,
29.49%,
1/26/24
..
79
80
991595654.UG.FTS.B,
29.49%,
1/26/24
..
75
76
991598750.UG.FTS.B,
29.49%,
1/26/24
..
447
446
991599536.UG.FTS.B,
29.49%,
1/26/24
..
525
537
991606139.UG.FTS.B,
29.49%,
1/26/24
..
372
369
991618299.UG.FTS.B,
29.49%,
1/26/24
..
153
116
991622450.UG.FTS.B,
29.49%,
1/26/24
..
59
60
991629683.UG.FTS.B,
29.49%,
1/26/24
..
286
292
991633238.UG.FTS.B,
29.49%,
1/26/24
..
15
15
991633373.UG.FTS.B,
29.49%,
1/26/24
..
355
356
991633572.UG.FTS.B,
29.49%,
1/26/24
..
76
59
991633631.UG.FTS.B,
29.49%,
1/26/24
..
105
106
991636176.UG.FTS.B,
29.49%,
1/26/24
..
406
408
991636182.UG.FTS.B,
29.49%,
1/26/24
..
319
326
991637641.UG.FTS.B,
29.49%,
1/26/24
..
146
11
991638287.UG.FTS.B,
29.49%,
1/26/24
..
203
206
991640279.UG.FTS.B,
29.49%,
1/26/24
..
43
38
991640433.UG.FTS.B,
29.49%,
1/26/24
..
64
65
991642017.UG.FTS.B,
29.49%,
1/26/24
..
96
97
991642061.UG.FTS.B,
29.49%,
1/26/24
..
150
153
991648245.UG.FTS.B,
29.49%,
1/26/24
..
165
169
991649659.UG.FTS.B,
29.49%,
1/26/24
..
166
166
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991650388.UG.FTS.B,
29.49%,
1/26/24
..
$
51
$
52
991651864.UG.FTS.B,
29.49%,
1/26/24
..
130
12
991654092.UG.FTS.B,
29.49%,
1/26/24
..
88
89
991655891.UG.FTS.B,
29.49%,
1/26/24
..
61
62
991656430.UG.FTS.B,
29.49%,
1/26/24
..
1,617
1,653
991658296.UG.FTS.B,
29.49%,
1/26/24
..
282
288
991664323.UG.FTS.B,
29.49%,
1/26/24
..
29
29
991666721.UG.FTS.B,
29.49%,
1/26/24
..
357
286
991668513.UG.FTS.B,
29.49%,
1/26/24
..
77
79
991672124.UG.FTS.B,
29.49%,
1/26/24
..
95
23
991676577.UG.FTS.B,
29.49%,
1/26/24
..
1,402
1,412
991680461.UG.FTS.B,
29.49%,
1/26/24
..
29
29
991683106.UG.FTS.B,
29.49%,
1/26/24
..
218
223
991684450.UG.FTS.B,
29.49%,
1/26/24
..
9
9
991692922.UG.FTS.B,
29.49%,
1/26/24
..
586
595
991693788.UG.FTS.B,
29.49%,
1/26/24
..
825
68
991694879.UG.FTS.B,
29.49%,
1/26/24
..
42
42
991698192.UG.FTS.B,
29.49%,
1/26/24
..
102
103
991698685.UG.FTS.B,
29.49%,
1/26/24
..
3
3
991698773.UG.FTS.B,
29.49%,
1/26/24
..
13
13
991700118.UG.FTS.B,
29.49%,
1/26/24
..
34
34
991711289.UG.FTS.B,
29.49%,
1/26/24
..
0
0
991713721.UG.FTS.B,
29.49%,
1/26/24
..
127
129
991714223.UG.FTS.B,
29.49%,
1/26/24
..
124
127
991724129.UG.FTS.B,
29.49%,
1/26/24
..
70
69
991725699.UG.FTS.B,
29.49%,
1/26/24
..
763
766
991735482.UG.FTS.B,
29.49%,
1/26/24
..
52
4
991739566.UG.FTS.B,
29.49%,
1/26/24
..
769
595
991744088.UG.FTS.B,
29.49%,
1/26/24
..
76
77
991752959.UG.FTS.B,
29.49%,
1/26/24
..
92
93
991764433.UG.FTS.B,
29.49%,
1/26/24
..
92
93
991772508.UG.FTS.B,
29.49%,
1/26/24
..
215
17
991781162.UG.FTS.B,
29.49%,
1/26/24
..
124
126
991783352.UG.FTS.B,
29.49%,
1/26/24
..
27
27
991783361.UG.FTS.B,
29.49%,
1/26/24
..
160
161
991784306.UG.FTS.B,
29.49%,
1/26/24
..
72
72
991785847.UG.FTS.B,
29.49%,
1/26/24
..
17
17
991786723.UG.FTS.B,
29.49%,
1/26/24
..
132
132
991787533.UG.FTS.B,
29.49%,
1/26/24
..
76
77
991789913.UG.FTS.B,
29.49%,
1/26/24
..
10
10
991789983.UG.FTS.B,
29.49%,
1/26/24
..
37
38
991792014.UG.FTS.B,
29.49%,
1/26/24
..
49
8
991795277.UG.FTS.B,
29.49%,
1/26/24
..
85
85
991798511.UG.FTS.B,
29.49%,
1/26/24
..
44
44
991798804.UG.FTS.B,
29.49%,
1/26/24
..
77
77
991799361.UG.FTS.B,
29.49%,
1/26/24
..
47
47
991800458.UG.FTS.B,
29.49%,
1/26/24
..
63
64
991809910.UG.FTS.B,
29.49%,
1/26/24
..
263
266
991810101.UG.FTS.B,
29.49%,
1/26/24
..
21
21
991816323.UG.FTS.B,
29.49%,
1/26/24
..
85
85
991816344.UG.FTS.B,
29.49%,
1/26/24
..
29
29
991819010.UG.FTS.B,
29.49%,
1/26/24
..
124
125
991820058.UG.FTS.B,
29.49%,
1/26/24
..
119
89
991821437.UG.FTS.B,
29.49%,
1/26/24
..
197
199
991822268.UG.FTS.B,
29.49%,
1/26/24
..
9
9
991823297.UG.FTS.B,
29.49%,
1/26/24
..
82
82
991828909.UG.FTS.B,
29.49%,
1/26/24
..
48
49
991834987.UG.FTS.B,
29.49%,
1/26/24
..
254
37
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
121
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991835272.UG.FTS.B,
29.49%,
1/26/24
..
$
328
$
26
991836284.UG.FTS.B,
29.49%,
1/26/24
..
636
643
991836489.UG.FTS.B,
29.49%,
1/26/24
..
220
220
991593836.UG.FTS.B,
Zero
Cpn,
1/27/24
.
79
–
991598305.UG.FTS.B,
Zero
Cpn,
1/27/24
.
193
–
991691463.UG.FTS.B,
Zero
Cpn,
1/27/24
.
100
–
991842241.UG.FTS.B,
15.47%,
1/27/24
..
73
75
991622257.UG.FTS.B,
17.49%,
1/27/24
..
299
304
991706691.UG.FTS.B,
17.49%,
1/27/24
..
163
166
991606775.UG.FTS.B,
18.47%,
1/27/24
..
607
452
991601696.UG.FTS.B,
18.71%,
1/27/24
..
707
720
991697130.UG.FTS.B,
19.3%,
1/27/24
...
362
364
991633375.UG.FTS.B,
27.95%,
1/27/24
..
55
57
991609765.UG.FTS.B,
27.99%,
1/27/24
..
260
266
991680095.UG.FTS.B,
27.99%,
1/27/24
..
71
72
991593644.UG.FTS.B,
28.48%,
1/27/24
..
739
51
991595105.UG.FTS.B,
28.48%,
1/27/24
..
382
56
991601477.UG.FTS.B,
28.48%,
1/27/24
..
73
75
991615673.UG.FTS.B,
28.48%,
1/27/24
..
17
18
991618012.UG.FTS.B,
28.48%,
1/27/24
..
80
82
991619350.UG.FTS.B,
28.48%,
1/27/24
..
243
249
991621935.UG.FTS.B,
28.48%,
1/27/24
..
160
162
991626927.UG.FTS.B,
28.48%,
1/27/24
..
67
67
991630514.UG.FTS.B,
28.48%,
1/27/24
..
128
128
991630780.UG.FTS.B,
28.48%,
1/27/24
..
10
10
991632886.UG.FTS.B,
28.48%,
1/27/24
..
11
11
991633792.UG.FTS.B,
28.48%,
1/27/24
..
402
403
991637950.UG.FTS.B,
28.48%,
1/27/24
..
64
4
991638924.UG.FTS.B,
28.48%,
1/27/24
..
113
113
991639534.UG.FTS.B,
28.48%,
1/27/24
..
15
15
991652781.UG.FTS.B,
28.48%,
1/27/24
..
17
17
991659976.UG.FTS.B,
28.48%,
1/27/24
..
200
29
991661576.UG.FTS.B,
28.48%,
1/27/24
..
175
179
991664071.UG.FTS.B,
28.48%,
1/27/24
..
353
362
991667194.UG.FTS.B,
28.48%,
1/27/24
..
113
116
991673408.UG.FTS.B,
28.48%,
1/27/24
..
0
0
991686984.UG.FTS.B,
28.48%,
1/27/24
..
200
202
991694419.UG.FTS.B,
28.48%,
1/27/24
..
22
22
991698388.UG.FTS.B,
28.48%,
1/27/24
..
101
(3)
991711210.UG.FTS.B,
28.48%,
1/27/24
..
92
(3)
991711799.UG.FTS.B,
28.48%,
1/27/24
..
224
227
991712181.UG.FTS.B,
28.48%,
1/27/24
..
7
7
991723489.UG.FTS.B,
28.48%,
1/27/24
..
179
181
991728658.UG.FTS.B,
28.48%,
1/27/24
..
168
173
991741153.UG.FTS.B,
28.48%,
1/27/24
..
601
616
991782222.UG.FTS.B,
28.48%,
1/27/24
..
37
37
991782824.UG.FTS.B,
28.48%,
1/27/24
..
94
94
991801395.UG.FTS.B,
28.48%,
1/27/24
..
171
172
991596967.UG.FTS.B,
29.48%,
1/27/24
..
17
17
991605017.UG.FTS.B,
29.48%,
1/27/24
..
113
115
991611712.UG.FTS.B,
29.48%,
1/27/24
..
111
113
991613363.UG.FTS.B,
29.48%,
1/27/24
..
6
6
991614264.UG.FTS.B,
29.48%,
1/27/24
..
178
179
991616298.UG.FTS.B,
29.48%,
1/27/24
..
7
7
991624670.UG.FTS.B,
29.48%,
1/27/24
..
142
145
991629975.UG.FTS.B,
29.48%,
1/27/24
..
77
79
991638057.UG.FTS.B,
29.48%,
1/27/24
..
59
60
991659454.UG.FTS.B,
29.48%,
1/27/24
..
26
27
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991662934.UG.FTS.B,
29.48%,
1/27/24
..
$
0
$
0
991699163.UG.FTS.B,
29.48%,
1/27/24
..
381
390
991775532.UG.FTS.B,
29.48%,
1/27/24
..
280
283
991783452.UG.FTS.B,
29.48%,
1/27/24
..
79
80
991783483.UG.FTS.B,
29.48%,
1/27/24
..
341
341
991829618.UG.FTS.B,
29.48%,
1/27/24
..
30
27
991593706.UG.FTS.B,
29.49%,
1/27/24
..
55
(2)
991594179.UG.FTS.B,
29.49%,
1/27/24
..
11
11
991594915.UG.FTS.B,
29.49%,
1/27/24
..
125
128
991595161.UG.FTS.B,
29.49%,
1/27/24
..
272
(8)
991595187.UG.FTS.B,
29.49%,
1/27/24
..
27
24
991595329.UG.FTS.B,
29.49%,
1/27/24
..
31
27
991595594.UG.FTS.B,
29.49%,
1/27/24
..
235
239
991595863.UG.FTS.B,
29.49%,
1/27/24
..
428
433
991596029.UG.FTS.B,
29.49%,
1/27/24
..
890
898
991596068.UG.FTS.B,
29.49%,
1/27/24
..
45
3
991596137.UG.FTS.B,
29.49%,
1/27/24
..
84
13
991596373.UG.FTS.B,
29.49%,
1/27/24
..
144
147
991598172.UG.FTS.B,
29.49%,
1/27/24
..
72
74
991598421.UG.FTS.B,
29.49%,
1/27/24
..
81
82
991598762.UG.FTS.B,
29.49%,
1/27/24
..
1,048
74
991599198.UG.FTS.B,
29.49%,
1/27/24
..
648
663
991599753.UG.FTS.B,
29.49%,
1/27/24
..
131
131
991599797.UG.FTS.B,
29.49%,
1/27/24
..
148
150
991600426.UG.FTS.B,
29.49%,
1/27/24
..
1,350
95
991601187.UG.FTS.B,
29.49%,
1/27/24
..
1,627
1,664
991602939.UG.FTS.B,
29.49%,
1/27/24
..
119
121
991602960.UG.FTS.B,
29.49%,
1/27/24
..
117
120
991604657.UG.FTS.B,
29.49%,
1/27/24
..
36
36
991604986.UG.FTS.B,
29.49%,
1/27/24
..
80
81
991605049.UG.FTS.B,
29.49%,
1/27/24
..
121
123
991605352.UG.FTS.B,
29.49%,
1/27/24
..
330
331
991605361.UG.FTS.B,
29.49%,
1/27/24
..
81
83
991608000.UG.FTS.B,
29.49%,
1/27/24
..
229
21
991608430.UG.FTS.B,
29.49%,
1/27/24
..
–
–
991608728.UG.FTS.B,
29.49%,
1/27/24
..
26
26
991609433.UG.FTS.B,
29.49%,
1/27/24
..
147
147
991610027.UG.FTS.B,
29.49%,
1/27/24
..
81
83
991610884.UG.FTS.B,
29.49%,
1/27/24
..
92
93
991611090.UG.FTS.B,
29.49%,
1/27/24
..
4
4
991612751.UG.FTS.B,
29.49%,
1/27/24
..
312
319
991613209.UG.FTS.B,
29.49%,
1/27/24
..
27
28
991614170.UG.FTS.B,
29.49%,
1/27/24
..
11
11
991616128.UG.FTS.B,
29.49%,
1/27/24
..
70
72
991616667.UG.FTS.B,
29.49%,
1/27/24
..
78
5
991616968.UG.FTS.B,
29.49%,
1/27/24
..
35
3
991616984.UG.FTS.B,
29.49%,
1/27/24
..
55
56
991621060.UG.FTS.B,
29.49%,
1/27/24
..
28
28
991621387.UG.FTS.B,
29.49%,
1/27/24
..
112
115
991621529.UG.FTS.B,
29.49%,
1/27/24
..
28
27
991622856.UG.FTS.B,
29.49%,
1/27/24
..
5
5
991624123.UG.FTS.B,
29.49%,
1/27/24
..
99
15
991624973.UG.FTS.B,
29.49%,
1/27/24
..
59
4
991627130.UG.FTS.B,
29.49%,
1/27/24
..
329
337
991628054.UG.FTS.B,
29.49%,
1/27/24
..
23
23
991628990.UG.FTS.B,
29.49%,
1/27/24
..
2
2
991630132.UG.FTS.B,
29.49%,
1/27/24
..
102
104
991630928.UG.FTS.B,
29.49%,
1/27/24
..
78
80
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
122
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991630940.UG.FTS.B,
29.49%,
1/27/24
..
$
86
$
86
991631226.UG.FTS.B,
29.49%,
1/27/24
..
151
23
991633782.UG.FTS.B,
29.49%,
1/27/24
..
166
12
991634012.UG.FTS.B,
29.49%,
1/27/24
..
90
13
991637073.UG.FTS.B,
29.49%,
1/27/24
..
64
65
991637485.UG.FTS.B,
29.49%,
1/27/24
..
70
71
991638425.UG.FTS.B,
29.49%,
1/27/24
..
8
8
991639172.UG.FTS.B,
29.49%,
1/27/24
..
74
74
991641800.UG.FTS.B,
29.49%,
1/27/24
..
43
44
991642142.UG.FTS.B,
29.49%,
1/27/24
..
10
10
991645179.UG.FTS.B,
29.49%,
1/27/24
..
119
122
991645905.UG.FTS.B,
29.49%,
1/27/24
..
924
942
991646296.UG.FTS.B,
29.49%,
1/27/24
..
162
164
991648501.UG.FTS.B,
29.49%,
1/27/24
..
55
56
991649457.UG.FTS.B,
29.49%,
1/27/24
..
105
107
991649973.UG.FTS.B,
29.49%,
1/27/24
..
143
146
991651122.UG.FTS.B,
29.49%,
1/27/24
..
182
182
991651387.UG.FTS.B,
29.49%,
1/27/24
..
102
8
991653265.UG.FTS.B,
29.49%,
1/27/24
..
1,584
1,621
991653611.UG.FTS.B,
29.49%,
1/27/24
..
48
48
991654698.UG.FTS.B,
29.49%,
1/27/24
..
39
3
991655679.UG.FTS.B,
29.49%,
1/27/24
..
68
69
991656551.UG.FTS.B,
29.49%,
1/27/24
..
405
415
991658001.UG.FTS.B,
29.49%,
1/27/24
..
324
331
991659877.UG.FTS.B,
29.49%,
1/27/24
..
39
40
991661664.UG.FTS.B,
29.49%,
1/27/24
..
11
11
991662634.UG.FTS.B,
29.49%,
1/27/24
..
263
269
991664036.UG.FTS.B,
29.49%,
1/27/24
..
289
288
991664346.UG.FTS.B,
29.49%,
1/27/24
..
78
6
991668164.UG.FTS.B,
29.49%,
1/27/24
..
38
39
991670004.UG.FTS.B,
29.49%,
1/27/24
..
521
532
991670151.UG.FTS.B,
29.49%,
1/27/24
..
524
536
991671543.UG.FTS.B,
29.49%,
1/27/24
..
190
194
991674709.UG.FTS.B,
29.49%,
1/27/24
..
333
334
991675702.UG.FTS.B,
29.49%,
1/27/24
..
12
12
991675889.UG.FTS.B,
29.49%,
1/27/24
..
137
140
991676459.UG.FTS.B,
29.49%,
1/27/24
..
221
226
991680326.UG.FTS.B,
29.49%,
1/27/24
..
591
605
991680852.UG.FTS.B,
29.49%,
1/27/24
..
82
84
991681757.UG.FTS.B,
29.49%,
1/27/24
..
35
36
991682200.UG.FTS.B,
29.49%,
1/27/24
..
202
206
991683102.UG.FTS.B,
29.49%,
1/27/24
..
145
148
991684192.UG.FTS.B,
29.49%,
1/27/24
..
373
378
991685436.UG.FTS.B,
29.49%,
1/27/24
..
35
35
991687929.UG.FTS.B,
29.49%,
1/27/24
..
144
146
991688013.UG.FTS.B,
29.49%,
1/27/24
..
33
33
991688029.UG.FTS.B,
29.49%,
1/27/24
..
350
358
991688831.UG.FTS.B,
29.49%,
1/27/24
..
53
54
991691365.UG.FTS.B,
29.49%,
1/27/24
..
692
101
991691583.UG.FTS.B,
29.49%,
1/27/24
..
202
206
991692773.UG.FTS.B,
29.49%,
1/27/24
..
27
27
991693486.UG.FTS.B,
29.49%,
1/27/24
..
94
96
991695109.UG.FTS.B,
29.49%,
1/27/24
..
63
64
991695966.UG.FTS.B,
29.49%,
1/27/24
..
384
387
991698229.UG.FTS.B,
29.49%,
1/27/24
..
124
125
991700069.UG.FTS.B,
29.49%,
1/27/24
..
166
166
991701338.UG.FTS.B,
29.49%,
1/27/24
..
107
108
991703507.UG.FTS.B,
29.49%,
1/27/24
..
7
8
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991704857.UG.FTS.B,
29.49%,
1/27/24
..
$
385
$
395
991711124.UG.FTS.B,
29.49%,
1/27/24
..
103
16
991715767.UG.FTS.B,
29.49%,
1/27/24
..
136
139
991717234.UG.FTS.B,
29.49%,
1/27/24
..
149
156
991718168.UG.FTS.B,
29.49%,
1/27/24
..
41
41
991718270.UG.FTS.B,
29.49%,
1/27/24
..
25
25
991720808.UG.FTS.B,
29.49%,
1/27/24
..
299
306
991725524.UG.FTS.B,
29.49%,
1/27/24
..
26
26
991727581.UG.FTS.B,
29.49%,
1/27/24
..
65
66
991729063.UG.FTS.B,
29.49%,
1/27/24
..
28
28
991738263.UG.FTS.B,
29.49%,
1/27/24
..
35
36
991738930.UG.FTS.B,
29.49%,
1/27/24
..
83
7
991739164.UG.FTS.B,
29.49%,
1/27/24
..
805
822
991739656.UG.FTS.B,
29.49%,
1/27/24
..
883
896
991740040.UG.FTS.B,
29.49%,
1/27/24
..
630
645
991741014.UG.FTS.B,
29.49%,
1/27/24
..
402
411
991742873.UG.FTS.B,
29.49%,
1/27/24
..
54
54
991748403.UG.FTS.B,
29.49%,
1/27/24
..
101
104
991748625.UG.FTS.B,
29.49%,
1/27/24
..
55
5
991750772.UG.FTS.B,
29.49%,
1/27/24
..
183
185
991752695.UG.FTS.B,
29.49%,
1/27/24
..
8
8
991763575.UG.FTS.B,
29.49%,
1/27/24
..
107
108
991766023.UG.FTS.B,
29.49%,
1/27/24
..
104
106
991766758.UG.FTS.B,
29.49%,
1/27/24
..
–
–
991769140.UG.FTS.B,
29.49%,
1/27/24
..
117
118
991773350.UG.FTS.B,
29.49%,
1/27/24
..
570
575
991773994.UG.FTS.B,
29.49%,
1/27/24
..
107
108
991776905.UG.FTS.B,
29.49%,
1/27/24
..
10
10
991777765.UG.FTS.B,
29.49%,
1/27/24
..
52
4
991783640.UG.FTS.B,
29.49%,
1/27/24
..
2,495
172
991790283.UG.FTS.B,
29.49%,
1/27/24
..
62
(2)
991791557.UG.FTS.B,
29.49%,
1/27/24
..
86
87
991792738.UG.FTS.B,
29.49%,
1/27/24
..
80
81
991793121.UG.FTS.B,
29.49%,
1/27/24
..
160
161
991795549.UG.FTS.B,
29.49%,
1/27/24
..
12
12
991798612.UG.FTS.B,
29.49%,
1/27/24
..
6
6
991800070.UG.FTS.B,
29.49%,
1/27/24
..
49
50
991800781.UG.FTS.B,
29.49%,
1/27/24
..
30
30
991801330.UG.FTS.B,
29.49%,
1/27/24
..
120
121
991802537.UG.FTS.B,
29.49%,
1/27/24
..
60
62
991803320.UG.FTS.B,
29.49%,
1/27/24
..
75
76
991803812.UG.FTS.B,
29.49%,
1/27/24
..
58
59
991807698.UG.FTS.B,
29.49%,
1/27/24
..
110
111
991809457.UG.FTS.B,
29.49%,
1/27/24
..
545
550
991811048.UG.FTS.B,
29.49%,
1/27/24
..
199
201
991814988.UG.FTS.B,
29.49%,
1/27/24
..
9
9
991815602.UG.FTS.B,
29.49%,
1/27/24
..
98
98
991816828.UG.FTS.B,
29.49%,
1/27/24
..
6
6
991817049.UG.FTS.B,
29.49%,
1/27/24
..
495
497
991821267.UG.FTS.B,
29.49%,
1/27/24
..
43
44
991828639.UG.FTS.B,
29.49%,
1/27/24
..
24
23
991829097.UG.FTS.B,
29.49%,
1/27/24
..
575
574
991831813.UG.FTS.B,
29.49%,
1/27/24
..
86
87
991617189.UG.FTS.B,
16.49%,
1/28/24
..
110
112
991791227.UG.FTS.B,
16.49%,
1/28/24
..
84
86
991604496.UG.FTS.B,
17.49%,
1/28/24
..
95
96
991605888.UG.FTS.B,
17.49%,
1/28/24
..
288
290
991681664.UG.FTS.B,
15.47%,
1/29/24
..
140
143
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
123
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991827557.UG.FTS.B,
15.47%,
1/29/24
..
$
248
$
251
991615250.UG.FTS.B,
17.49%,
1/29/24
..
31
31
991826391.UG.FTS.B,
17.49%,
1/29/24
..
7
7
991638160.UG.FTS.B,
19.96%,
1/29/24
..
274
279
991751487.UG.FTS.B,
14.48%,
1/30/24
..
4
4
991851931.UG.FTS.B,
15.47%,
1/30/24
..
341
347
991677257.UG.FTS.B,
17.49%,
1/30/24
..
89
91
991754447.UG.FTS.B,
17.49%,
1/30/24
..
318
324
991810373.UG.FTS.B,
17.49%,
1/30/24
..
29
25
991633973.UG.FTS.B,
19.3%,
1/30/24
...
155
157
991632138.UG.FTS.B,
19.96%,
1/30/24
..
177
128
991695974.UG.FTS.B,
21.47%,
1/30/24
..
252
253
991641299.UG.FTS.B,
21.48%,
1/30/24
..
95
96
991688841.UG.FTS.B,
22.47%,
1/30/24
..
341
346
991668213.UG.FTS.B,
24.45%,
1/30/24
..
104
105
991800664.UG.FTS.B,
14.48%,
1/31/24
..
49
49
991692740.UG.FTS.B,
15.47%,
1/31/24
..
406
413
991732365.UG.FTS.B,
15.47%,
1/31/24
..
11
11
991857512.UG.FTS.B,
15.47%,
1/31/24
..
25
25
991820637.UG.FTS.B,
15.49%,
1/31/24
..
22
22
991631266.UG.FTS.B,
16.49%,
1/31/24
..
705
719
991635849.UG.FTS.B,
16.49%,
1/31/24
..
167
171
991642956.UG.FTS.B,
16.49%,
1/31/24
..
171
174
991658433.UG.FTS.B,
16.49%,
1/31/24
..
756
770
991677334.UG.FTS.B,
16.49%,
1/31/24
..
494
505
991705318.UG.FTS.B,
16.49%,
1/31/24
..
77
78
991741610.UG.FTS.B,
16.49%,
1/31/24
..
19
19
991747537.UG.FTS.B,
17.47%,
1/31/24
..
141
144
991759068.UG.FTS.B,
17.47%,
1/31/24
..
2,817
658
991637676.UG.FTS.B,
17.49%,
1/31/24
..
117
119
991637719.UG.FTS.B,
17.49%,
1/31/24
..
111
113
991639187.UG.FTS.B,
17.49%,
1/31/24
..
295
210
991642846.UG.FTS.B,
17.49%,
1/31/24
..
95
97
991654338.UG.FTS.B,
17.49%,
1/31/24
..
25
26
991741139.UG.FTS.B,
17.49%,
1/31/24
..
75
77
991742841.UG.FTS.B,
17.49%,
1/31/24
..
683
693
991748407.UG.FTS.B,
17.49%,
1/31/24
..
57
58
991780300.UG.FTS.B,
17.49%,
1/31/24
..
193
197
991835711.UG.FTS.B,
17.49%,
1/31/24
..
655
660
991856913.UG.FTS.B,
17.49%,
1/31/24
..
37
38
991869281.UG.FTS.B,
17.49%,
1/31/24
..
261
263
991798159.UG.FTS.B,
17.71%,
1/31/24
..
36
36
991727199.UG.FTS.B,
17.99%,
1/31/24
..
8
9
991655263.UG.FTS.B,
18.47%,
1/31/24
..
533
541
991676080.UG.FTS.B,
18.47%,
1/31/24
..
33
33
991661216.UG.FTS.B,
19.3%,
1/31/24
...
316
320
991686127.UG.FTS.B,
19.3%,
1/31/24
...
197
200
991687417.UG.FTS.B,
19.3%,
1/31/24
...
198
201
991628348.UG.FTS.B,
19.96%,
1/31/24
..
222
225
991642331.UG.FTS.B,
19.96%,
1/31/24
..
66
67
991651260.UG.FTS.B,
19.96%,
1/31/24
..
56
57
991672930.UG.FTS.B,
19.96%,
1/31/24
..
94
95
991681323.UG.FTS.B,
19.96%,
1/31/24
..
147
150
991710638.UG.FTS.B,
19.96%,
1/31/24
..
150
151
991713238.UG.FTS.B,
19.96%,
1/31/24
..
128
130
991650296.UG.FTS.B,
20.47%,
1/31/24
..
681
687
991668477.UG.FTS.B,
20.47%,
1/31/24
..
39
39
991702014.UG.FTS.B,
20.47%,
1/31/24
..
113
115
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991653552.UG.FTS.B,
21.48%,
1/31/24
..
$
104
$
104
991696310.UG.FTS.B,
21.48%,
1/31/24
..
64
65
991705966.UG.FTS.B,
21.48%,
1/31/24
..
122
123
991643834.UG.FTS.B,
22.45%,
1/31/24
..
104
105
991639414.UG.FTS.B,
22.47%,
1/31/24
..
288
293
991707815.UG.FTS.B,
22.47%,
1/31/24
..
55
56
991710192.UG.FTS.B,
22.47%,
1/31/24
..
98
98
991678923.UG.FTS.B,
23.45%,
1/31/24
..
545
547
991633530.UG.FTS.B,
25.45%,
1/31/24
..
93
94
991726930.UG.FTS.B,
15%,
2/01/24
.....
123
125
991764182.UG.FTS.B,
15.47%,
2/01/24
..
283
287
991713586.UG.FTS.B,
16.49%,
2/01/24
..
245
51
991724946.UG.FTS.B,
16.49%,
2/01/24
..
1,635
1,658
991807161.UG.FTS.B,
16.49%,
2/01/24
..
121
121
991668233.UG.FTS.B,
17.49%,
2/01/24
..
85
86
991669770.UG.FTS.B,
17.49%,
2/01/24
..
1,083
1,097
991677316.UG.FTS.B,
17.49%,
2/01/24
..
170
172
991708387.UG.FTS.B,
17.49%,
2/01/24
..
156
18
991721077.UG.FTS.B,
17.49%,
2/01/24
..
206
209
991785085.UG.FTS.B,
17.49%,
2/01/24
..
93
94
991869528.UG.FTS.B,
17.49%,
2/01/24
..
102
103
991667665.UG.FTS.B,
14.47%,
2/02/24
..
1,010
1,025
991678784.UG.FTS.B,
14.48%,
2/02/24
..
23
23
991722113.UG.FTS.B,
15.49%,
2/02/24
..
410
416
991668499.UG.FTS.B,
16.49%,
2/02/24
..
202
203
991679739.UG.FTS.B,
16.49%,
2/02/24
..
10
10
991684166.UG.FTS.B,
16.49%,
2/02/24
..
92
94
991682132.UG.FTS.B,
17.47%,
2/02/24
..
165
167
991688897.UG.FTS.B,
17.49%,
2/02/24
..
491
497
991733262.UG.FTS.B,
17.49%,
2/02/24
..
152
154
991734120.UG.FTS.B,
17.49%,
2/02/24
..
182
184
991656661.UG.FTS.B,
17.71%,
2/02/24
..
1,236
1,249
991681257.UG.FTS.B,
17.49%,
2/03/24
..
147
148
991865832.UG.FTS.B,
17.49%,
2/03/24
..
99
99
991729281.UG.FTS.B,
18.71%,
2/03/24
..
531
381
991695999.UG.FTS.B,
19.96%,
2/03/24
..
640
647
991693730.UG.FTS.B,
19.99%,
2/03/24
..
241
244
991695190.UG.FTS.B,
22.47%,
2/03/24
..
337
339
991891498.UG.FTS.B,
22.47%,
2/03/24
..
89
89
991913841.UG.FTS.B,
22.47%,
2/03/24
..
42
42
991693378.UG.FTS.B,
23.44%,
2/03/24
..
154
155
991702806.UG.FTS.B,
23.45%,
2/03/24
..
351
352
991711117.UG.FTS.B,
25.44%,
2/03/24
...
228
29
991912006.UG.FTS.B,
27.99%,
2/03/24
..
115
115
991680261.UG.FTS.B,
28.48%,
2/03/24
..
277
277
991690009.UG.FTS.B,
28.48%,
2/03/24
..
302
307
991874849.UG.FTS.B,
28.48%,
2/03/24
..
19
18
991901928.UG.FTS.B,
28.48%,
2/03/24
..
54
55
991904640.UG.FTS.B,
28.48%,
2/03/24
..
203
203
991910482.UG.FTS.B,
28.48%,
2/03/24
..
20
20
991681086.UG.FTS.B,
29.48%,
2/03/24
..
69
4
991704230.UG.FTS.B,
29.48%,
2/03/24
..
336
342
991705815.UG.FTS.B,
29.48%,
2/03/24
..
323
324
991900344.UG.FTS.B,
29.48%,
2/03/24
..
39
39
991659972.UG.FTS.B,
29.49%,
2/03/24
..
941
929
991678302.UG.FTS.B,
29.49%,
2/03/24
..
114
115
991680860.UG.FTS.B,
29.49%,
2/03/24
..
22
21
991687586.UG.FTS.B,
29.49%,
2/03/24
..
103
104
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
124
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991689928.UG.FTS.B,
29.49%,
2/03/24
..
$
101
$
102
991693809.UG.FTS.B,
29.49%,
2/03/24
..
95
96
991696571.UG.FTS.B,
29.49%,
2/03/24
..
37
3
991699949.UG.FTS.B,
29.49%,
2/03/24
..
139
137
991702908.UG.FTS.B,
29.49%,
2/03/24
..
125
31
991705235.UG.FTS.B,
29.49%,
2/03/24
..
16
16
991713394.UG.FTS.B,
29.49%,
2/03/24
..
183
186
991714413.UG.FTS.B,
29.49%,
2/03/24
..
44
44
991723826.UG.FTS.B,
29.49%,
2/03/24
..
42
42
991726593.UG.FTS.B,
29.49%,
2/03/24
..
56
56
991727796.UG.FTS.B,
29.49%,
2/03/24
..
26
25
991733227.UG.FTS.B,
29.49%,
2/03/24
..
1,078
1,089
991738598.UG.FTS.B,
29.49%,
2/03/24
..
44
14
991741241.UG.FTS.B,
29.49%,
2/03/24
..
105
13
991760491.UG.FTS.B,
29.49%,
2/03/24
..
23
9
991763674.UG.FTS.B,
29.49%,
2/03/24
..
41
41
991778703.UG.FTS.B,
29.49%,
2/03/24
..
533
526
991785226.UG.FTS.B,
29.49%,
2/03/24
..
136
136
991795299.UG.FTS.B,
29.49%,
2/03/24
..
225
226
991795649.UG.FTS.B,
29.49%,
2/03/24
..
175
11
991815788.UG.FTS.B,
29.49%,
2/03/24
..
114
115
991830693.UG.FTS.B,
29.49%,
2/03/24
..
16
16
991836116.UG.FTS.B,
29.49%,
2/03/24
..
383
388
991861447.UG.FTS.B,
29.49%,
2/03/24
..
74
75
991900126.UG.FTS.B,
29.49%,
2/03/24
..
3
3
991909011.UG.FTS.B,
29.49%,
2/03/24
..
6
6
991909246.UG.FTS.B,
29.49%,
2/03/24
..
247
247
991909536.UG.FTS.B,
29.49%,
2/03/24
..
13
12
991910436.UG.FTS.B,
29.49%,
2/03/24
..
15
15
991910992.UG.FTS.B,
29.49%,
2/03/24
..
35
5
991912648.UG.FTS.B,
29.49%,
2/03/24
..
1
1
991915208.UG.FTS.B,
29.49%,
2/03/24
..
31
(1)
991844970.UG.FTS.B,
15%,
2/04/24
.....
1,151
1,168
991776059.UG.FTS.B,
15.47%,
2/04/24
..
81
82
991854905.UG.FTS.B,
15.47%,
2/04/24
..
326
332
991754220.UG.FTS.B,
15.49%,
2/04/24
..
8
8
991687252.UG.FTS.B,
16.49%,
2/04/24
..
32
32
991705198.UG.FTS.B,
17.49%,
2/04/24
..
5
5
991686911.UG.FTS.B,
18.47%,
2/04/24
..
95
97
991685554.UG.FTS.B,
18.71%,
2/04/24
..
105
106
991768122.UG.FTS.B,
22.47%,
2/04/24
..
53
53
991726743.UG.FTS.B,
23.45%,
2/04/24
..
58
58
991856429.UG.FTS.B,
27.99%,
2/04/24
..
157
116
991702673.UG.FTS.B,
28.48%,
2/04/24
..
148
149
991742407.UG.FTS.B,
28.48%,
2/04/24
..
197
47
991875683.UG.FTS.B,
28.48%,
2/04/24
..
128
128
991919081.UG.FTS.B,
28.48%,
2/04/24
..
30
5
991924972.UG.FTS.B,
28.48%,
2/04/24
..
14
14
991688068.UG.FTS.B,
29.48%,
2/04/24
..
360
365
991711305.UG.FTS.B,
29.48%,
2/04/24
..
135
137
991737606.UG.FTS.B,
29.48%,
2/04/24
..
193
194
991842330.UG.FTS.B,
29.48%,
2/04/24
..
153
36
991879561.UG.FTS.B,
29.48%,
2/04/24
..
99
98
991892456.UG.FTS.B,
29.48%,
2/04/24
..
30
30
991687855.UG.FTS.B,
29.49%,
2/04/24
..
111
113
991690036.UG.FTS.B,
29.49%,
2/04/24
..
11
11
991700800.UG.FTS.B,
29.49%,
2/04/24
..
366
281
991700803.UG.FTS.B,
29.49%,
2/04/24
..
154
37
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991700847.UG.FTS.B,
29.49%,
2/04/24
..
$
1,060
$
257
991702984.UG.FTS.B,
29.49%,
2/04/24
..
107
107
991706472.UG.FTS.B,
29.49%,
2/04/24
..
98
98
991711192.UG.FTS.B,
29.49%,
2/04/24
..
102
(5)
991715507.UG.FTS.B,
29.49%,
2/04/24
..
47
47
991726705.UG.FTS.B,
29.49%,
2/04/24
..
98
97
991728226.UG.FTS.B,
29.49%,
2/04/24
..
1,693
1,711
991741073.UG.FTS.B,
29.49%,
2/04/24
..
138
10
991741875.UG.FTS.B,
29.49%,
2/04/24
..
235
237
991745008.UG.FTS.B,
29.49%,
2/04/24
..
67
5
991756664.UG.FTS.B,
29.49%,
2/04/24
..
143
144
991764301.UG.FTS.B,
29.49%,
2/04/24
..
106
106
991788801.UG.FTS.B,
29.49%,
2/04/24
..
169
169
991790411.UG.FTS.B,
29.49%,
2/04/24
..
140
138
991791030.UG.FTS.B,
29.49%,
2/04/24
..
236
17
991796108.UG.FTS.B,
29.49%,
2/04/24
..
49
49
991804405.UG.FTS.B,
29.49%,
2/04/24
..
126
125
991813259.UG.FTS.B,
29.49%,
2/04/24
..
597
604
991829699.UG.FTS.B,
29.49%,
2/04/24
..
60
60
991840498.UG.FTS.B,
29.49%,
2/04/24
..
151
(5)
991858925.UG.FTS.B,
29.49%,
2/04/24
..
189
189
991880139.UG.FTS.B,
29.49%,
2/04/24
..
113
112
991883553.UG.FTS.B,
29.49%,
2/04/24
..
15
15
991888221.UG.FTS.B,
29.49%,
2/04/24
..
99
98
991894355.UG.FTS.B,
29.49%,
2/04/24
..
141
141
991902885.UG.FTS.B,
29.49%,
2/04/24
..
0
0
991909049.UG.FTS.B,
29.49%,
2/04/24
..
85
85
991910876.UG.FTS.B,
29.49%,
2/04/24
..
428
425
991911528.UG.FTS.B,
29.49%,
2/04/24
..
286
285
991911662.UG.FTS.B,
29.49%,
2/04/24
..
26
26
991912074.UG.FTS.B,
29.49%,
2/04/24
..
44
44
991917056.UG.FTS.B,
29.49%,
2/04/24
..
341
338
991917798.UG.FTS.B,
29.49%,
2/04/24
..
12
12
991919941.UG.FTS.B,
29.49%,
2/04/24
..
19
19
991920191.UG.FTS.B,
29.49%,
2/04/24
..
5
5
991921603.UG.FTS.B,
29.49%,
2/04/24
..
40
39
991921668.UG.FTS.B,
29.49%,
2/04/24
..
17
16
991922017.UG.FTS.B,
29.49%,
2/04/24
..
11
11
991719169.UG.FTS.B,
18.71%,
2/05/24
..
116
116
991772760.UG.FTS.B,
18.71%,
2/05/24
..
278
285
991698328.UG.FTS.B,
19.3%,
2/05/24
...
49
49
991702868.UG.FTS.B,
19.3%,
2/05/24
...
145
145
991711452.UG.FTS.B,
19.96%,
2/05/24
..
179
181
991876008.UG.FTS.B,
19.96%,
2/05/24
..
37
37
991693126.UG.FTS.B,
19.99%,
2/05/24
..
114
116
991768477.UG.FTS.B,
19.99%,
2/05/24
..
39
39
991815229.UG.FTS.B,
19.99%,
2/05/24
..
49
49
991818135.UG.FTS.B,
19.99%,
2/05/24
..
34
34
991910371.UG.FTS.B,
19.99%,
2/05/24
..
19
19
991896939.UG.FTS.B,
20.47%,
2/05/24
..
787
790
991900869.UG.FTS.B,
20.96%,
2/05/24
..
80
81
991914493.UG.FTS.B,
20.96%,
2/05/24
..
17
17
991779478.UG.FTS.B,
21.48%,
2/05/24
..
344
347
991827138.UG.FTS.B,
21.48%,
2/05/24
..
92
93
991854090.UG.FTS.B,
21.48%,
2/05/24
..
190
192
991776899.UG.FTS.B,
22.47%,
2/05/24
..
89
89
991698945.UG.FTS.B,
23.45%,
2/05/24
..
225
226
991725398.UG.FTS.B,
23.45%,
2/05/24
..
73
73
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
125
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991938019.UG.FTS.B,
23.45%,
2/05/24
..
$
165
$
165
991809381.UG.FTS.B,
25.44%,
2/05/24
..
213
212
991700243.UG.FTS.B,
25.45%,
2/05/24
..
179
180
991866679.UG.FTS.B,
26.44%,
2/05/24
..
90
90
991823832.UG.FTS.B,
27.95%,
2/05/24
..
60
4
991679881.UG.FTS.B,
28.48%,
2/05/24
..
–
–
991697533.UG.FTS.B,
28.48%,
2/05/24
..
44
43
991705005.UG.FTS.B,
28.48%,
2/05/24
..
47
47
991712635.UG.FTS.B,
28.48%,
2/05/24
..
317
320
991713761.UG.FTS.B,
28.48%,
2/05/24
..
28
25
991735405.UG.FTS.B,
28.48%,
2/05/24
..
59
59
991738161.UG.FTS.B,
28.48%,
2/05/24
..
227
230
991739512.UG.FTS.B,
28.48%,
2/05/24
..
133
133
991744316.UG.FTS.B,
28.48%,
2/05/24
..
234
238
991751198.UG.FTS.B,
28.48%,
2/05/24
..
290
295
991756677.UG.FTS.B,
28.48%,
2/05/24
..
21
21
991756833.UG.FTS.B,
28.48%,
2/05/24
..
71
72
991766340.UG.FTS.B,
28.48%,
2/05/24
..
539
548
991773527.UG.FTS.B,
28.48%,
2/05/24
..
24
24
991780618.UG.FTS.B,
28.48%,
2/05/24
..
104
106
991783723.UG.FTS.B,
28.48%,
2/05/24
..
90
21
991785400.UG.FTS.B,
28.48%,
2/05/24
..
114
116
991818664.UG.FTS.B,
28.48%,
2/05/24
..
948
943
991819563.UG.FTS.B,
28.48%,
2/05/24
..
87
89
991829882.UG.FTS.B,
28.48%,
2/05/24
..
27
27
991835745.UG.FTS.B,
28.48%,
2/05/24
..
146
148
991837209.UG.FTS.B,
28.48%,
2/05/24
..
82
82
991845532.UG.FTS.B,
28.48%,
2/05/24
..
459
176
991852618.UG.FTS.B,
28.48%,
2/05/24
..
77
76
991874473.UG.FTS.B,
28.48%,
2/05/24
..
86
85
991886671.UG.FTS.B,
28.48%,
2/05/24
..
57
58
991898117.UG.FTS.B,
28.48%,
2/05/24
..
142
142
991901004.UG.FTS.B,
28.48%,
2/05/24
..
77
77
991916369.UG.FTS.B,
28.48%,
2/05/24
..
164
165
991919905.UG.FTS.B,
28.48%,
2/05/24
..
592
587
991805200.UG.FTS.B,
29.46%,
2/05/24
..
105
106
991697955.UG.FTS.B,
29.48%,
2/05/24
..
379
49
991700432.UG.FTS.B,
29.48%,
2/05/24
..
39
39
991701867.UG.FTS.B,
29.48%,
2/05/24
..
81
82
991702648.UG.FTS.B,
29.48%,
2/05/24
..
32
32
991709685.UG.FTS.B,
29.48%,
2/05/24
..
96
95
991714933.UG.FTS.B,
29.48%,
2/05/24
..
118
119
991716572.UG.FTS.B,
29.48%,
2/05/24
..
87
21
991725591.UG.FTS.B,
29.48%,
2/05/24
..
21
20
991733077.UG.FTS.B,
29.48%,
2/05/24
..
29
12
991747028.UG.FTS.B,
29.48%,
2/05/24
..
–
–
991754699.UG.FTS.B,
29.48%,
2/05/24
..
94
95
991755146.UG.FTS.B,
29.48%,
2/05/24
..
199
202
991768220.UG.FTS.B,
29.48%,
2/05/24
..
40
40
991779730.UG.FTS.B,
29.48%,
2/05/24
..
53
54
991781448.UG.FTS.B,
29.48%,
2/05/24
..
113
114
991792826.UG.FTS.B,
29.48%,
2/05/24
..
241
58
991797219.UG.FTS.B,
29.48%,
2/05/24
..
668
676
991799948.UG.FTS.B,
29.48%,
2/05/24
..
30
30
991833863.UG.FTS.B,
29.48%,
2/05/24
..
168
170
991838320.UG.FTS.B,
29.48%,
2/05/24
..
70
71
991854737.UG.FTS.B,
29.48%,
2/05/24
..
753
759
991864151.UG.FTS.B,
29.48%,
2/05/24
..
960
66
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991898289.UG.FTS.B,
29.48%,
2/05/24
..
$
82
$
83
991914626.UG.FTS.B,
29.48%,
2/05/24
..
45
45
991679707.UG.FTS.B,
29.49%,
2/05/24
..
294
297
991680432.UG.FTS.B,
29.49%,
2/05/24
..
89
88
991681844.UG.FTS.B,
29.49%,
2/05/24
..
851
859
991682447.UG.FTS.B,
29.49%,
2/05/24
..
847
858
991692055.UG.FTS.B,
29.49%,
2/05/24
..
295
295
991693089.UG.FTS.B,
29.49%,
2/05/24
..
135
135
991693747.UG.FTS.B,
29.49%,
2/05/24
..
97
(4)
991693783.UG.FTS.B,
29.49%,
2/05/24
..
67
68
991695845.UG.FTS.B,
29.49%,
2/05/24
..
34
(2)
991696162.UG.FTS.B,
29.49%,
2/05/24
..
105
106
991696616.UG.FTS.B,
29.49%,
2/05/24
..
258
261
991696879.UG.FTS.B,
29.49%,
2/05/24
..
518
525
991697144.UG.FTS.B,
29.49%,
2/05/24
..
90
90
991697343.UG.FTS.B,
29.49%,
2/05/24
..
32
32
991700056.UG.FTS.B,
29.49%,
2/05/24
..
599
147
991700549.UG.FTS.B,
29.49%,
2/05/24
..
3
3
991701473.UG.FTS.B,
29.49%,
2/05/24
..
278
282
991704518.UG.FTS.B,
29.49%,
2/05/24
..
62
63
991705344.UG.FTS.B,
29.49%,
2/05/24
..
73
73
991705462.UG.FTS.B,
29.49%,
2/05/24
..
253
252
991705465.UG.FTS.B,
29.49%,
2/05/24
..
95
96
991706846.UG.FTS.B,
29.49%,
2/05/24
..
172
175
991708749.UG.FTS.B,
29.49%,
2/05/24
..
35
35
991709555.UG.FTS.B,
29.49%,
2/05/24
..
33
33
991711063.UG.FTS.B,
29.49%,
2/05/24
..
121
121
991711180.UG.FTS.B,
29.49%,
2/05/24
..
–
–
991711397.UG.FTS.B,
29.49%,
2/05/24
..
422
428
991712546.UG.FTS.B,
29.49%,
2/05/24
..
88
89
991713122.UG.FTS.B,
29.49%,
2/05/24
..
57
4
991713288.UG.FTS.B,
29.49%,
2/05/24
..
63
63
991713498.UG.FTS.B,
29.49%,
2/05/24
..
77
77
991714141.UG.FTS.B,
29.49%,
2/05/24
..
33
33
991715806.UG.FTS.B,
29.49%,
2/05/24
..
12
12
991716267.UG.FTS.B,
29.49%,
2/05/24
..
94
95
991716734.UG.FTS.B,
29.49%,
2/05/24
..
187
185
991718017.UG.FTS.B,
29.49%,
2/05/24
..
106
107
991722519.UG.FTS.B,
29.49%,
2/05/24
..
–
–
991723083.UG.FTS.B,
29.49%,
2/05/24
..
169
172
991723420.UG.FTS.B,
29.49%,
2/05/24
..
84
84
991724092.UG.FTS.B,
29.49%,
2/05/24
..
70
70
991724906.UG.FTS.B,
29.49%,
2/05/24
..
12
12
991726322.UG.FTS.B,
29.49%,
2/05/24
..
49
49
991729272.UG.FTS.B,
29.49%,
2/05/24
..
101
101
991729702.UG.FTS.B,
29.49%,
2/05/24
..
339
336
991729824.UG.FTS.B,
29.49%,
2/05/24
..
277
36
991730567.UG.FTS.B,
29.49%,
2/05/24
..
99
89
991730878.UG.FTS.B,
29.49%,
2/05/24
..
325
75
991731157.UG.FTS.B,
29.49%,
2/05/24
..
155
159
991731679.UG.FTS.B,
29.49%,
2/05/24
..
23
23
991733469.UG.FTS.B,
29.49%,
2/05/24
..
31
30
991733625.UG.FTS.B,
29.49%,
2/05/24
..
24
24
991737989.UG.FTS.B,
29.49%,
2/05/24
..
67
67
991739387.UG.FTS.B,
29.49%,
2/05/24
..
634
644
991741149.UG.FTS.B,
29.49%,
2/05/24
..
216
214
991741214.UG.FTS.B,
29.49%,
2/05/24
..
43
43
991741933.UG.FTS.B,
29.49%,
2/05/24
..
171
169
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
126
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991742642.UG.FTS.B,
29.49%,
2/05/24
..
$
20
$
20
991743867.UG.FTS.B,
29.49%,
2/05/24
..
111
6
991744990.UG.FTS.B,
29.49%,
2/05/24
..
80
81
991745688.UG.FTS.B,
29.49%,
2/05/24
..
55
4
991750870.UG.FTS.B,
29.49%,
2/05/24
..
24
24
991751346.UG.FTS.B,
29.49%,
2/05/24
..
123
123
991752632.UG.FTS.B,
29.49%,
2/05/24
..
152
152
991757403.UG.FTS.B,
29.49%,
2/05/24
..
–
–
991757885.UG.FTS.B,
29.49%,
2/05/24
..
557
561
991757963.UG.FTS.B,
29.49%,
2/05/24
..
19
19
991760033.UG.FTS.B,
29.49%,
2/05/24
..
66
65
991760562.UG.FTS.B,
29.49%,
2/05/24
..
22
22
991760937.UG.FTS.B,
29.49%,
2/05/24
..
33
33
991762562.UG.FTS.B,
29.49%,
2/05/24
..
100
101
991762619.UG.FTS.B,
29.49%,
2/05/24
..
103
104
991763866.UG.FTS.B,
29.49%,
2/05/24
..
71
71
991773526.UG.FTS.B,
29.49%,
2/05/24
..
337
342
991773707.UG.FTS.B,
29.49%,
2/05/24
..
341
343
991775549.UG.FTS.B,
29.49%,
2/05/24
..
535
34
991776888.UG.FTS.B,
29.49%,
2/05/24
..
7
7
991777302.UG.FTS.B,
29.49%,
2/05/24
..
148
147
991779496.UG.FTS.B,
29.49%,
2/05/24
..
355
357
991779729.UG.FTS.B,
29.49%,
2/05/24
..
161
160
991783484.UG.FTS.B,
29.49%,
2/05/24
..
224
226
991785049.UG.FTS.B,
29.49%,
2/05/24
..
111
112
991786506.UG.FTS.B,
29.49%,
2/05/24
..
206
208
991786889.UG.FTS.B,
29.49%,
2/05/24
..
22
22
991787648.UG.FTS.B,
29.49%,
2/05/24
..
496
501
991788242.UG.FTS.B,
29.49%,
2/05/24
..
32
2
991788922.UG.FTS.B,
29.49%,
2/05/24
..
566
574
991790437.UG.FTS.B,
29.49%,
2/05/24
..
30
30
991791302.UG.FTS.B,
29.49%,
2/05/24
..
40
40
991794884.UG.FTS.B,
29.49%,
2/05/24
..
142
141
991795706.UG.FTS.B,
29.49%,
2/05/24
..
98
96
991796027.UG.FTS.B,
29.49%,
2/05/24
..
158
159
991797436.UG.FTS.B,
29.49%,
2/05/24
..
20
20
991798472.UG.FTS.B,
29.49%,
2/05/24
..
26
(1)
991799165.UG.FTS.B,
29.49%,
2/05/24
..
89
90
991801405.UG.FTS.B,
29.49%,
2/05/24
..
297
222
991804544.UG.FTS.B,
29.49%,
2/05/24
..
75
74
991805403.UG.FTS.B,
29.49%,
2/05/24
..
32
32
991805836.UG.FTS.B,
29.49%,
2/05/24
..
38
37
991807322.UG.FTS.B,
29.49%,
2/05/24
..
35
35
991807620.UG.FTS.B,
29.49%,
2/05/24
..
16
16
991808770.UG.FTS.B,
29.49%,
2/05/24
..
25
4
991810461.UG.FTS.B,
29.49%,
2/05/24
..
160
161
991815117.UG.FTS.B,
29.49%,
2/05/24
..
88
88
991816327.UG.FTS.B,
29.49%,
2/05/24
..
870
863
991816825.UG.FTS.B,
29.49%,
2/05/24
..
27
27
991821184.UG.FTS.B,
29.49%,
2/05/24
..
149
150
991825274.UG.FTS.B,
29.49%,
2/05/24
..
43
43
991827164.UG.FTS.B,
29.49%,
2/05/24
..
49
49
991827302.UG.FTS.B,
29.49%,
2/05/24
..
151
151
991831270.UG.FTS.B,
29.49%,
2/05/24
..
207
205
991833796.UG.FTS.B,
29.49%,
2/05/24
..
126
127
991835834.UG.FTS.B,
29.49%,
2/05/24
..
84
85
991837619.UG.FTS.B,
29.49%,
2/05/24
..
34
33
991839857.UG.FTS.B,
29.49%,
2/05/24
..
28
28
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991845124.UG.FTS.B,
29.49%,
2/05/24
..
$
170
$
10
991847475.UG.FTS.B,
29.49%,
2/05/24
..
47
47
991848440.UG.FTS.B,
29.49%,
2/05/24
..
29
28
991850514.UG.FTS.B,
29.49%,
2/05/24
..
211
211
991850797.UG.FTS.B,
29.49%,
2/05/24
..
66
65
991852272.UG.FTS.B,
29.49%,
2/05/24
..
78
78
991852368.UG.FTS.B,
29.49%,
2/05/24
..
0
0
991857846.UG.FTS.B,
29.49%,
2/05/24
..
19
19
991858745.UG.FTS.B,
29.49%,
2/05/24
..
263
267
991858849.UG.FTS.B,
29.49%,
2/05/24
..
47
47
991858897.UG.FTS.B,
29.49%,
2/05/24
..
53
53
991862959.UG.FTS.B,
29.49%,
2/05/24
..
418
424
991869449.UG.FTS.B,
29.49%,
2/05/24
..
42
42
991875810.UG.FTS.B,
29.49%,
2/05/24
..
169
168
991879388.UG.FTS.B,
29.49%,
2/05/24
..
76
76
991881786.UG.FTS.B,
29.49%,
2/05/24
..
58
58
991884438.UG.FTS.B,
29.49%,
2/05/24
..
22
22
991884613.UG.FTS.B,
29.49%,
2/05/24
..
6
6
991889487.UG.FTS.B,
29.49%,
2/05/24
..
84
83
991890862.UG.FTS.B,
29.49%,
2/05/24
..
26
26
991898184.UG.FTS.B,
29.49%,
2/05/24
..
69
68
991899976.UG.FTS.B,
29.49%,
2/05/24
..
127
126
991900038.UG.FTS.B,
29.49%,
2/05/24
..
43
43
991900410.UG.FTS.B,
29.49%,
2/05/24
..
36
36
991901626.UG.FTS.B,
29.49%,
2/05/24
..
235
231
991905879.UG.FTS.B,
29.49%,
2/05/24
..
103
102
991908519.UG.FTS.B,
29.49%,
2/05/24
..
84
83
991911294.UG.FTS.B,
29.49%,
2/05/24
..
76
76
991912151.UG.FTS.B,
29.49%,
2/05/24
..
285
282
991912389.UG.FTS.B,
29.49%,
2/05/24
..
14
14
991916372.UG.FTS.B,
29.49%,
2/05/24
..
7
7
991932077.UG.FTS.B,
29.49%,
2/05/24
..
14
14
991932864.UG.FTS.B,
29.49%,
2/05/24
..
66
66
991932898.UG.FTS.B,
29.49%,
2/05/24
..
607
602
991935172.UG.FTS.B,
29.49%,
2/05/24
..
89
13
991936900.UG.FTS.B,
29.49%,
2/05/24
..
83
83
991704421.UG.FTS.B,
18.47%,
2/06/24
..
21
9
991766242.UG.FTS.B,
18.47%,
2/06/24
..
173
175
991702860.UG.FTS.B,
18.71%,
2/06/24
..
151
108
991812725.UG.FTS.B,
18.71%,
2/06/24
..
–
–
991894070.UG.FTS.B,
19.96%,
2/06/24
..
231
232
991928651.UG.FTS.B,
19.96%,
2/06/24
..
615
619
991750813.UG.FTS.B,
19.99%,
2/06/24
..
112
114
991911467.UG.FTS.B,
19.99%,
2/06/24
..
63
64
991713559.UG.FTS.B,
20.47%,
2/06/24
..
36
3
991719716.UG.FTS.B,
20.47%,
2/06/24
..
375
379
991721661.UG.FTS.B,
20.47%,
2/06/24
..
3,865
271
991740030.UG.FTS.B,
20.47%,
2/06/24
..
202
204
991801406.UG.FTS.B,
20.47%,
2/06/24
..
100
7
991829360.UG.FTS.B,
20.47%,
2/06/24
..
25
25
991718257.UG.FTS.B,
20.96%,
2/06/24
..
146
147
991721853.UG.FTS.B,
20.96%,
2/06/24
..
151
151
991809389.UG.FTS.B,
20.96%,
2/06/24
..
349
352
991714545.UG.FTS.B,
21.48%,
2/06/24
..
218
218
991747919.UG.FTS.B,
21.48%,
2/06/24
..
86
86
991764160.UG.FTS.B,
21.48%,
2/06/24
..
146
148
991803770.UG.FTS.B,
21.48%,
2/06/24
..
44
14
991896635.UG.FTS.B,
21.48%,
2/06/24
..
497
497
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
127
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991704625.UG.FTS.B,
22.47%,
2/06/24
..
$
37
$
37
991735920.UG.FTS.B,
22.47%,
2/06/24
..
144
10
991770409.UG.FTS.B,
22.47%,
2/06/24
..
196
198
991818161.UG.FTS.B,
22.47%,
2/06/24
..
572
573
991858801.UG.FTS.B,
22.47%,
2/06/24
..
91
92
991713027.UG.FTS.B,
23.45%,
2/06/24
..
370
372
991795177.UG.FTS.B,
23.45%,
2/06/24
..
95
68
991908552.UG.FTS.B,
23.45%,
2/06/24
..
269
19
991734865.UG.FTS.B,
25.45%,
2/06/24
..
130
131
991690169.UG.FTS.B,
28.48%,
2/06/24
..
1,152
1,165
991700308.UG.FTS.B,
28.48%,
2/06/24
..
41
42
991702392.UG.FTS.B,
28.48%,
2/06/24
..
161
163
991704340.UG.FTS.B,
28.48%,
2/06/24
..
345
349
991705248.UG.FTS.B,
28.48%,
2/06/24
..
23
23
991708303.UG.FTS.B,
28.48%,
2/06/24
..
13
13
991709748.UG.FTS.B,
28.48%,
2/06/24
..
36
36
991711318.UG.FTS.B,
28.48%,
2/06/24
..
119
121
991713658.UG.FTS.B,
28.48%,
2/06/24
..
183
23
991716848.UG.FTS.B,
28.48%,
2/06/24
..
171
22
991719954.UG.FTS.B,
28.48%,
2/06/24
..
977
(42)
991724225.UG.FTS.B,
28.48%,
2/06/24
..
50
51
991726042.UG.FTS.B,
28.48%,
2/06/24
..
28
28
991729743.UG.FTS.B,
28.48%,
2/06/24
..
8
8
991730449.UG.FTS.B,
28.48%,
2/06/24
..
169
172
991738872.UG.FTS.B,
28.48%,
2/06/24
..
52
52
991740055.UG.FTS.B,
28.48%,
2/06/24
..
591
601
991741244.UG.FTS.B,
28.48%,
2/06/24
..
134
135
991756963.UG.FTS.B,
28.48%,
2/06/24
..
97
98
991758170.UG.FTS.B,
28.48%,
2/06/24
..
78
78
991766960.UG.FTS.B,
28.48%,
2/06/24
..
38
39
991778391.UG.FTS.B,
28.48%,
2/06/24
..
115
114
991780645.UG.FTS.B,
28.48%,
2/06/24
..
314
319
991785489.UG.FTS.B,
28.48%,
2/06/24
..
562
571
991787571.UG.FTS.B,
28.48%,
2/06/24
..
32
32
991791057.UG.FTS.B,
28.48%,
2/06/24
..
15
14
991803786.UG.FTS.B,
28.48%,
2/06/24
..
131
133
991827686.UG.FTS.B,
28.48%,
2/06/24
..
177
130
991831344.UG.FTS.B,
28.48%,
2/06/24
..
61
61
991833476.UG.FTS.B,
28.48%,
2/06/24
..
1,257
1,277
991833886.UG.FTS.B,
28.48%,
2/06/24
..
9
8
991853055.UG.FTS.B,
28.48%,
2/06/24
..
197
199
991853534.UG.FTS.B,
28.48%,
2/06/24
..
167
170
991895433.UG.FTS.B,
28.48%,
2/06/24
..
743
21
991896815.UG.FTS.B,
28.48%,
2/06/24
..
273
271
991699505.UG.FTS.B,
29.48%,
2/06/24
..
31
31
991702376.UG.FTS.B,
29.48%,
2/06/24
..
13
13
991704767.UG.FTS.B,
29.48%,
2/06/24
..
374
379
991711309.UG.FTS.B,
29.48%,
2/06/24
..
49
49
991711350.UG.FTS.B,
29.48%,
2/06/24
..
61
60
991725659.UG.FTS.B,
29.48%,
2/06/24
..
63
63
991726043.UG.FTS.B,
29.48%,
2/06/24
..
63
21
991739555.UG.FTS.B,
29.48%,
2/06/24
..
114
115
991772431.UG.FTS.B,
29.48%,
2/06/24
..
1,327
323
991781765.UG.FTS.B,
29.48%,
2/06/24
..
39
39
991793829.UG.FTS.B,
29.48%,
2/06/24
..
31
31
991798043.UG.FTS.B,
29.48%,
2/06/24
..
7
7
991819053.UG.FTS.B,
29.48%,
2/06/24
..
83
85
991832143.UG.FTS.B,
29.48%,
2/06/24
..
176
177
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991835222.UG.FTS.B,
29.48%,
2/06/24
..
$
671
$
676
991861015.UG.FTS.B,
29.48%,
2/06/24
..
46
47
991894999.UG.FTS.B,
29.48%,
2/06/24
..
584
585
991914678.UG.FTS.B,
29.48%,
2/06/24
..
215
216
991928677.UG.FTS.B,
29.48%,
2/06/24
..
166
167
991698911.UG.FTS.B,
29.49%,
2/06/24
..
129
130
991700169.UG.FTS.B,
29.49%,
2/06/24
..
195
197
991700219.UG.FTS.B,
29.49%,
2/06/24
..
88
87
991700772.UG.FTS.B,
29.49%,
2/06/24
..
259
69
991701271.UG.FTS.B,
29.49%,
2/06/24
..
193
25
991701514.UG.FTS.B,
29.49%,
2/06/24
..
14
14
991701883.UG.FTS.B,
29.49%,
2/06/24
..
1,332
1,345
991702589.UG.FTS.B,
29.49%,
2/06/24
..
15
14
991702835.UG.FTS.B,
29.49%,
2/06/24
..
199
202
991703003.UG.FTS.B,
29.49%,
2/06/24
..
57
17
991703043.UG.FTS.B,
29.49%,
2/06/24
..
68
68
991703094.UG.FTS.B,
29.49%,
2/06/24
..
59
59
991703613.UG.FTS.B,
29.49%,
2/06/24
..
47
46
991704277.UG.FTS.B,
29.49%,
2/06/24
..
512
32
991704372.UG.FTS.B,
29.49%,
2/06/24
..
113
114
991705086.UG.FTS.B,
29.49%,
2/06/24
..
82
82
991705673.UG.FTS.B,
29.49%,
2/06/24
..
40
40
991706376.UG.FTS.B,
29.49%,
2/06/24
..
131
133
991706434.UG.FTS.B,
29.49%,
2/06/24
..
294
297
991706794.UG.FTS.B,
29.49%,
2/06/24
..
99
99
991707005.UG.FTS.B,
29.49%,
2/06/24
..
534
35
991707306.UG.FTS.B,
29.49%,
2/06/24
..
768
779
991707852.UG.FTS.B,
29.49%,
2/06/24
..
80
80
991708729.UG.FTS.B,
29.49%,
2/06/24
..
28
27
991709169.UG.FTS.B,
29.49%,
2/06/24
..
100
101
991710056.UG.FTS.B,
29.49%,
2/06/24
..
23
23
991710659.UG.FTS.B,
29.49%,
2/06/24
..
66
18
991711265.UG.FTS.B,
29.49%,
2/06/24
..
186
188
991711897.UG.FTS.B,
29.49%,
2/06/24
..
81
20
991713731.UG.FTS.B,
29.49%,
2/06/24
..
82
83
991714822.UG.FTS.B,
29.49%,
2/06/24
..
160
159
991715112.UG.FTS.B,
29.49%,
2/06/24
..
100
98
991716404.UG.FTS.B,
29.49%,
2/06/24
..
12
12
991717036.UG.FTS.B,
29.49%,
2/06/24
..
6
6
991717524.UG.FTS.B,
29.49%,
2/06/24
..
193
195
991718539.UG.FTS.B,
29.49%,
2/06/24
..
75
76
991722299.UG.FTS.B,
29.49%,
2/06/24
..
120
121
991723140.UG.FTS.B,
29.49%,
2/06/24
..
254
257
991723291.UG.FTS.B,
29.49%,
2/06/24
..
19
19
991723907.UG.FTS.B,
29.49%,
2/06/24
..
318
314
991725101.UG.FTS.B,
29.49%,
2/06/24
..
51
51
991726212.UG.FTS.B,
29.49%,
2/06/24
..
0
0
991726361.UG.FTS.B,
29.49%,
2/06/24
..
640
648
991727080.UG.FTS.B,
29.49%,
2/06/24
..
49
49
991730343.UG.FTS.B,
29.49%,
2/06/24
..
212
215
991731423.UG.FTS.B,
29.49%,
2/06/24
..
123
123
991732799.UG.FTS.B,
29.49%,
2/06/24
..
230
228
991734017.UG.FTS.B,
29.49%,
2/06/24
..
247
248
991734953.UG.FTS.B,
29.49%,
2/06/24
..
216
214
991735402.UG.FTS.B,
29.49%,
2/06/24
..
93
93
991735997.UG.FTS.B,
29.49%,
2/06/24
..
153
153
991736969.UG.FTS.B,
29.49%,
2/06/24
..
182
183
991738288.UG.FTS.B,
29.49%,
2/06/24
..
170
171
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
128
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991738514.UG.FTS.B,
29.49%,
2/06/24
..
$
178
$
181
991738581.UG.FTS.B,
29.49%,
2/06/24
..
128
105
991739473.UG.FTS.B,
29.49%,
2/06/24
..
102
103
991741909.UG.FTS.B,
29.49%,
2/06/24
..
110
109
991743596.UG.FTS.B,
29.49%,
2/06/24
..
39
39
991750749.UG.FTS.B,
29.49%,
2/06/24
..
434
430
991754427.UG.FTS.B,
29.49%,
2/06/24
..
247
245
991754554.UG.FTS.B,
29.49%,
2/06/24
..
151
38
991756004.UG.FTS.B,
29.49%,
2/06/24
..
200
203
991756713.UG.FTS.B,
29.49%,
2/06/24
..
812
824
991757511.UG.FTS.B,
29.49%,
2/06/24
..
17
16
991760581.UG.FTS.B,
29.49%,
2/06/24
..
378
382
991762718.UG.FTS.B,
29.49%,
2/06/24
..
148
151
991763838.UG.FTS.B,
29.49%,
2/06/24
..
30
30
991766178.UG.FTS.B,
29.49%,
2/06/24
..
48
48
991766882.UG.FTS.B,
29.49%,
2/06/24
..
188
190
991767912.UG.FTS.B,
29.49%,
2/06/24
..
155
157
991768785.UG.FTS.B,
29.49%,
2/06/24
..
18
18
991769363.UG.FTS.B,
29.49%,
2/06/24
..
78
79
991775218.UG.FTS.B,
29.49%,
2/06/24
..
254
258
991780320.UG.FTS.B,
29.49%,
2/06/24
..
50
4
991780601.UG.FTS.B,
29.49%,
2/06/24
..
117
119
991787882.UG.FTS.B,
29.49%,
2/06/24
..
62
17
991791590.UG.FTS.B,
29.49%,
2/06/24
..
115
117
991792802.UG.FTS.B,
29.49%,
2/06/24
..
674
684
991796474.UG.FTS.B,
29.49%,
2/06/24
..
9
9
991797851.UG.FTS.B,
29.49%,
2/06/24
..
54
54
991798948.UG.FTS.B,
29.49%,
2/06/24
..
192
(9)
991800867.UG.FTS.B,
29.49%,
2/06/24
..
29
29
991800876.UG.FTS.B,
29.49%,
2/06/24
..
21
21
991802395.UG.FTS.B,
29.49%,
2/06/24
..
181
184
991802450.UG.FTS.B,
29.49%,
2/06/24
..
181
182
991802472.UG.FTS.B,
29.49%,
2/06/24
..
31
30
991803366.UG.FTS.B,
29.49%,
2/06/24
..
148
150
991804272.UG.FTS.B,
29.49%,
2/06/24
..
69
70
991807744.UG.FTS.B,
29.49%,
2/06/24
..
71
72
991807972.UG.FTS.B,
29.49%,
2/06/24
..
498
505
991809220.UG.FTS.B,
29.49%,
2/06/24
..
21
20
991811603.UG.FTS.B,
29.49%,
2/06/24
..
88
88
991811852.UG.FTS.B,
29.49%,
2/06/24
..
19
19
991812453.UG.FTS.B,
29.49%,
2/06/24
..
121
122
991815771.UG.FTS.B,
29.49%,
2/06/24
..
49
50
991821659.UG.FTS.B,
29.49%,
2/06/24
..
352
349
991824369.UG.FTS.B,
29.49%,
2/06/24
..
80
81
991834896.UG.FTS.B,
29.49%,
2/06/24
..
81
82
991838757.UG.FTS.B,
29.49%,
2/06/24
..
11
11
991841322.UG.FTS.B,
29.49%,
2/06/24
..
56
56
991843601.UG.FTS.B,
29.49%,
2/06/24
..
16
16
991845179.UG.FTS.B,
29.49%,
2/06/24
..
168
170
991847495.UG.FTS.B,
29.49%,
2/06/24
..
45
44
991847730.UG.FTS.B,
29.49%,
2/06/24
..
37
37
991848888.UG.FTS.B,
29.49%,
2/06/24
..
132
133
991851571.UG.FTS.B,
29.49%,
2/06/24
..
640
(34)
991854055.UG.FTS.B,
29.49%,
2/06/24
..
837
845
991854221.UG.FTS.B,
29.49%,
2/06/24
..
838
848
991857859.UG.FTS.B,
29.49%,
2/06/24
..
4
4
991863148.UG.FTS.B,
29.49%,
2/06/24
..
159
162
991863263.UG.FTS.B,
29.49%,
2/06/24
..
1,701
1,723
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991863348.UG.FTS.B,
29.49%,
2/06/24
..
$
251
$
255
991864157.UG.FTS.B,
29.49%,
2/06/24
..
195
195
991864784.UG.FTS.B,
29.49%,
2/06/24
..
181
177
991864872.UG.FTS.B,
29.49%,
2/06/24
..
33
33
991865672.UG.FTS.B,
29.49%,
2/06/24
..
294
297
991867936.UG.FTS.B,
29.49%,
2/06/24
..
48
48
991872797.UG.FTS.B,
29.49%,
2/06/24
..
0
0
991876619.UG.FTS.B,
29.49%,
2/06/24
..
30
29
991877592.UG.FTS.B,
29.49%,
2/06/24
..
753
751
991879365.UG.FTS.B,
29.49%,
2/06/24
..
266
265
991879983.UG.FTS.B,
29.49%,
2/06/24
..
33
13
991894974.UG.FTS.B,
29.49%,
2/06/24
..
499
495
991898707.UG.FTS.B,
29.49%,
2/06/24
..
83
83
991902326.UG.FTS.B,
29.49%,
2/06/24
..
46
46
991903049.UG.FTS.B,
29.49%,
2/06/24
..
69
70
991903768.UG.FTS.B,
29.49%,
2/06/24
..
2,003
1,994
991908232.UG.FTS.B,
29.49%,
2/06/24
..
83
83
991908563.UG.FTS.B,
29.49%,
2/06/24
..
116
114
991913163.UG.FTS.B,
29.49%,
2/06/24
..
96
96
991916003.UG.FTS.B,
29.49%,
2/06/24
..
302
299
991917005.UG.FTS.B,
29.49%,
2/06/24
..
123
123
991919051.UG.FTS.B,
29.49%,
2/06/24
..
47
47
991920035.UG.FTS.B,
29.49%,
2/06/24
..
93
93
991921170.UG.FTS.B,
29.49%,
2/06/24
..
0
0
991922749.UG.FTS.B,
29.49%,
2/06/24
..
37
37
991923870.UG.FTS.B,
29.49%,
2/06/24
..
300
39
991925585.UG.FTS.B,
29.49%,
2/06/24
..
251
250
991932100.UG.FTS.B,
29.49%,
2/06/24
..
39
39
991933341.UG.FTS.B,
29.49%,
2/06/24
..
78
77
991935855.UG.FTS.B,
29.49%,
2/06/24
..
51
4
991936718.UG.FTS.B,
29.49%,
2/06/24
..
19
19
991952896.UG.FTS.B,
17.49%,
2/07/24
..
814
822
991726829.UG.FTS.B,
18.47%,
2/07/24
..
221
223
991908299.UG.FTS.B,
18.47%,
2/07/24
..
82
83
991712054.UG.FTS.B,
18.48%,
2/07/24
..
26
26
991929945.UG.FTS.B,
18.71%,
2/07/24
..
49
50
991747268.UG.FTS.B,
19.96%,
2/07/24
..
157
158
991753959.UG.FTS.B,
19.99%,
2/07/24
..
53
52
991759455.UG.FTS.B,
19.99%,
2/07/24
..
318
318
991706118.UG.FTS.B,
20.47%,
2/07/24
..
35
35
991746536.UG.FTS.B,
20.47%,
2/07/24
..
432
435
991722216.UG.FTS.B,
20.96%,
2/07/24
..
162
163
991749666.UG.FTS.B,
20.96%,
2/07/24
..
146
148
991810606.UG.FTS.B,
20.96%,
2/07/24
..
1,987
2,008
991709699.UG.FTS.B,
21.48%,
2/07/24
..
54
(1)
991766296.UG.FTS.B,
21.48%,
2/07/24
..
225
227
991728476.UG.FTS.B,
22.45%,
2/07/24
..
271
271
991788399.UG.FTS.B,
22.45%,
2/07/24
..
126
127
991705944.UG.FTS.B,
22.47%,
2/07/24
..
631
632
991765791.UG.FTS.B,
22.47%,
2/07/24
..
163
165
991805714.UG.FTS.B,
22.47%,
2/07/24
..
85
85
991824365.UG.FTS.B,
22.47%,
2/07/24
..
139
140
991731634.UG.FTS.B,
23.45%,
2/07/24
..
185
185
991897674.UG.FTS.B,
23.45%,
2/07/24
..
44
44
991937198.UG.FTS.B,
24.45%,
2/07/24
..
390
390
991731317.UG.FTS.B,
25.45%,
2/07/24
..
32
32
991790087.UG.FTS.B,
25.45%,
2/07/24
..
69
69
991795146.UG.FTS.B,
25.45%,
2/07/24
..
320
75
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
129
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991725466.UG.FTS.B,
26.44%,
2/07/24
..
$
53
$
(1)
991742610.UG.FTS.B,
26.44%,
2/07/24
..
34
34
991831112.UG.FTS.B,
26.44%,
2/07/24
..
183
13
991938133.UG.FTS.B,
27.99%,
2/07/24
..
65
64
991706634.UG.FTS.B,
28.48%,
2/07/24
..
604
607
991710705.UG.FTS.B,
28.48%,
2/07/24
..
34
34
991714808.UG.FTS.B,
28.48%,
2/07/24
..
65
66
991731295.UG.FTS.B,
28.48%,
2/07/24
..
–
–
991731457.UG.FTS.B,
28.48%,
2/07/24
..
423
430
991741108.UG.FTS.B,
28.48%,
2/07/24
..
579
584
991756153.UG.FTS.B,
28.48%,
2/07/24
..
16
16
991758069.UG.FTS.B,
28.48%,
2/07/24
..
505
508
991758575.UG.FTS.B,
28.48%,
2/07/24
..
23
23
991759844.UG.FTS.B,
28.48%,
2/07/24
..
81
20
991764700.UG.FTS.B,
28.48%,
2/07/24
..
89
90
991778355.UG.FTS.B,
28.48%,
2/07/24
..
40
41
991799124.UG.FTS.B,
28.48%,
2/07/24
..
38
39
991803011.UG.FTS.B,
28.48%,
2/07/24
..
118
119
991815918.UG.FTS.B,
28.48%,
2/07/24
..
211
211
991818712.UG.FTS.B,
28.48%,
2/07/24
..
359
360
991822357.UG.FTS.B,
28.48%,
2/07/24
..
29
29
991850407.UG.FTS.B,
28.48%,
2/07/24
..
61
62
991860532.UG.FTS.B,
28.48%,
2/07/24
..
107
106
991917220.UG.FTS.B,
28.48%,
2/07/24
..
175
174
991930736.UG.FTS.B,
28.48%,
2/07/24
..
38
38
991707024.UG.FTS.B,
29.48%,
2/07/24
..
39
39
991709711.UG.FTS.B,
29.48%,
2/07/24
..
308
313
991710613.UG.FTS.B,
29.48%,
2/07/24
..
18
18
991711547.UG.FTS.B,
29.48%,
2/07/24
..
99
100
991715983.UG.FTS.B,
29.48%,
2/07/24
..
77
77
991717577.UG.FTS.B,
29.48%,
2/07/24
..
71
71
991728869.UG.FTS.B,
29.48%,
2/07/24
..
97
98
991729127.UG.FTS.B,
29.48%,
2/07/24
..
354
46
991731888.UG.FTS.B,
29.48%,
2/07/24
..
46
46
991734282.UG.FTS.B,
29.48%,
2/07/24
..
38
39
991736572.UG.FTS.B,
29.48%,
2/07/24
..
209
211
991739328.UG.FTS.B,
29.48%,
2/07/24
..
62
4
991742699.UG.FTS.B,
29.48%,
2/07/24
..
309
314
991751889.UG.FTS.B,
29.48%,
2/07/24
..
77
78
991758401.UG.FTS.B,
29.48%,
2/07/24
..
31
31
991760237.UG.FTS.B,
29.48%,
2/07/24
..
263
267
991761553.UG.FTS.B,
29.48%,
2/07/24
..
65
66
991769139.UG.FTS.B,
29.48%,
2/07/24
..
143
35
991797551.UG.FTS.B,
29.48%,
2/07/24
..
232
235
991803460.UG.FTS.B,
29.48%,
2/07/24
..
238
241
991810928.UG.FTS.B,
29.48%,
2/07/24
..
841
847
991813154.UG.FTS.B,
29.48%,
2/07/24
..
299
304
991819883.UG.FTS.B,
29.48%,
2/07/24
..
511
35
991824656.UG.FTS.B,
29.48%,
2/07/24
..
7
6
991840368.UG.FTS.B,
29.48%,
2/07/24
..
159
159
991923633.UG.FTS.B,
29.48%,
2/07/24
..
420
421
991705242.UG.FTS.B,
29.49%,
2/07/24
..
437
442
991705726.UG.FTS.B,
29.49%,
2/07/24
..
50
4
991705831.UG.FTS.B,
29.49%,
2/07/24
..
31
31
991705840.UG.FTS.B,
29.49%,
2/07/24
..
236
237
991707631.UG.FTS.B,
29.49%,
2/07/24
..
121
123
991707811.UG.FTS.B,
29.49%,
2/07/24
..
41
41
991709347.UG.FTS.B,
29.49%,
2/07/24
..
41
41
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991709349.UG.FTS.B,
29.49%,
2/07/24
..
$
26
$
26
991709436.UG.FTS.B,
29.49%,
2/07/24
..
34
34
991709556.UG.FTS.B,
29.49%,
2/07/24
..
78
79
991710918.UG.FTS.B,
29.49%,
2/07/24
..
56
8
991711441.UG.FTS.B,
29.49%,
2/07/24
..
71
70
991711765.UG.FTS.B,
29.49%,
2/07/24
..
445
450
991712265.UG.FTS.B,
29.49%,
2/07/24
..
120
121
991712289.UG.FTS.B,
29.49%,
2/07/24
..
125
127
991712442.UG.FTS.B,
29.49%,
2/07/24
..
262
264
991712942.UG.FTS.B,
29.49%,
2/07/24
..
137
138
991713532.UG.FTS.B,
29.49%,
2/07/24
..
26
26
991714110.UG.FTS.B,
29.49%,
2/07/24
..
151
153
991714291.UG.FTS.B,
29.49%,
2/07/24
..
31
31
991714530.UG.FTS.B,
29.49%,
2/07/24
..
137
139
991714627.UG.FTS.B,
29.49%,
2/07/24
..
252
33
991717559.UG.FTS.B,
29.49%,
2/07/24
..
92
94
991720763.UG.FTS.B,
29.49%,
2/07/24
..
212
215
991721981.UG.FTS.B,
29.49%,
2/07/24
..
127
129
991722386.UG.FTS.B,
29.49%,
2/07/24
..
133
99
991723169.UG.FTS.B,
29.49%,
2/07/24
..
197
(8)
991723256.UG.FTS.B,
29.49%,
2/07/24
..
16
16
991724085.UG.FTS.B,
29.49%,
2/07/24
..
212
28
991724317.UG.FTS.B,
29.49%,
2/07/24
..
36
36
991724940.UG.FTS.B,
29.49%,
2/07/24
..
400
98
991725077.UG.FTS.B,
29.49%,
2/07/24
..
44
44
991726634.UG.FTS.B,
29.49%,
2/07/24
..
275
276
991726842.UG.FTS.B,
29.49%,
2/07/24
..
93
93
991729154.UG.FTS.B,
29.49%,
2/07/24
..
525
532
991729259.UG.FTS.B,
29.49%,
2/07/24
..
254
258
991729859.UG.FTS.B,
29.49%,
2/07/24
..
412
412
991731671.UG.FTS.B,
29.49%,
2/07/24
..
42
42
991732502.UG.FTS.B,
29.49%,
2/07/24
..
168
169
991734122.UG.FTS.B,
29.49%,
2/07/24
..
18
18
991734419.UG.FTS.B,
29.49%,
2/07/24
..
119
120
991735127.UG.FTS.B,
29.49%,
2/07/24
..
4
3
991735481.UG.FTS.B,
29.49%,
2/07/24
..
35
34
991736007.UG.FTS.B,
29.49%,
2/07/24
..
146
118
991736235.UG.FTS.B,
29.49%,
2/07/24
..
35
35
991736257.UG.FTS.B,
29.49%,
2/07/24
..
177
179
991736904.UG.FTS.B,
29.49%,
2/07/24
..
79
62
991742022.UG.FTS.B,
29.49%,
2/07/24
..
188
191
991743504.UG.FTS.B,
29.49%,
2/07/24
..
447
31
991745483.UG.FTS.B,
29.49%,
2/07/24
..
566
570
991746695.UG.FTS.B,
29.49%,
2/07/24
..
86
86
991747730.UG.FTS.B,
29.49%,
2/07/24
..
97
96
991750233.UG.FTS.B,
29.49%,
2/07/24
..
241
32
991750279.UG.FTS.B,
29.49%,
2/07/24
..
31
31
991752944.UG.FTS.B,
29.49%,
2/07/24
..
27
27
991754760.UG.FTS.B,
29.49%,
2/07/24
..
73
72
991755183.UG.FTS.B,
29.49%,
2/07/24
..
94
12
991755836.UG.FTS.B,
29.49%,
2/07/24
..
80
6
991756174.UG.FTS.B,
29.49%,
2/07/24
..
289
293
991757757.UG.FTS.B,
29.49%,
2/07/24
..
87
88
991758636.UG.FTS.B,
29.49%,
2/07/24
..
54
4
991758864.UG.FTS.B,
29.49%,
2/07/24
..
184
184
991760583.UG.FTS.B,
29.49%,
2/07/24
..
182
181
991762212.UG.FTS.B,
29.49%,
2/07/24
..
562
563
991767246.UG.FTS.B,
29.49%,
2/07/24
..
122
123
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
130
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991768200.UG.FTS.B,
29.49%,
2/07/24
..
$
15
$
15
991768735.UG.FTS.B,
29.49%,
2/07/24
..
1,128
1,121
991772407.UG.FTS.B,
29.49%,
2/07/24
..
75
76
991775214.UG.FTS.B,
29.49%,
2/07/24
..
25
25
991776930.UG.FTS.B,
29.49%,
2/07/24
..
12
12
991779526.UG.FTS.B,
29.49%,
2/07/24
..
88
12
991779533.UG.FTS.B,
29.49%,
2/07/24
..
18
18
991780524.UG.FTS.B,
29.49%,
2/07/24
..
133
135
991781431.UG.FTS.B,
29.49%,
2/07/24
..
40
40
991781548.UG.FTS.B,
29.49%,
2/07/24
..
712
728
991782258.UG.FTS.B,
29.49%,
2/07/24
..
1,296
1,302
991782377.UG.FTS.B,
29.49%,
2/07/24
..
88
21
991786276.UG.FTS.B,
29.49%,
2/07/24
..
439
441
991787046.UG.FTS.B,
29.49%,
2/07/24
..
61
62
991788484.UG.FTS.B,
29.49%,
2/07/24
..
55
55
991794751.UG.FTS.B,
29.49%,
2/07/24
..
232
235
991795789.UG.FTS.B,
29.49%,
2/07/24
..
154
155
991799311.UG.FTS.B,
29.49%,
2/07/24
..
25
25
991800270.UG.FTS.B,
29.49%,
2/07/24
..
3
3
991802071.UG.FTS.B,
29.49%,
2/07/24
..
211
214
991804746.UG.FTS.B,
29.49%,
2/07/24
..
64
64
991805956.UG.FTS.B,
29.49%,
2/07/24
..
17
17
991813759.UG.FTS.B,
29.49%,
2/07/24
..
88
88
991814041.UG.FTS.B,
29.49%,
2/07/24
..
51
51
991814879.UG.FTS.B,
29.49%,
2/07/24
..
39
39
991817194.UG.FTS.B,
29.49%,
2/07/24
..
95
97
991817987.UG.FTS.B,
29.49%,
2/07/24
..
83
84
991822013.UG.FTS.B,
29.49%,
2/07/24
..
146
147
991823863.UG.FTS.B,
29.49%,
2/07/24
..
27
27
991823909.UG.FTS.B,
29.49%,
2/07/24
..
87
87
991826644.UG.FTS.B,
29.49%,
2/07/24
..
37
37
991828058.UG.FTS.B,
29.49%,
2/07/24
..
18
2
991829590.UG.FTS.B,
29.49%,
2/07/24
..
12
12
991833748.UG.FTS.B,
29.49%,
2/07/24
..
1,607
396
991835130.UG.FTS.B,
29.49%,
2/07/24
..
126
127
991838231.UG.FTS.B,
29.49%,
2/07/24
..
67
67
991838362.UG.FTS.B,
29.49%,
2/07/24
..
172
173
991839999.UG.FTS.B,
29.49%,
2/07/24
..
80
81
991840310.UG.FTS.B,
29.49%,
2/07/24
..
204
205
991842041.UG.FTS.B,
29.49%,
2/07/24
..
106
107
991844653.UG.FTS.B,
29.49%,
2/07/24
..
424
430
991845454.UG.FTS.B,
29.49%,
2/07/24
..
605
611
991846751.UG.FTS.B,
29.49%,
2/07/24
..
35
35
991847296.UG.FTS.B,
29.49%,
2/07/24
..
440
109
991849970.UG.FTS.B,
29.49%,
2/07/24
..
68
69
991850440.UG.FTS.B,
29.49%,
2/07/24
..
183
185
991852099.UG.FTS.B,
29.49%,
2/07/24
..
76
75
991852247.UG.FTS.B,
29.49%,
2/07/24
..
689
687
991852683.UG.FTS.B,
29.49%,
2/07/24
..
148
150
991852938.UG.FTS.B,
29.49%,
2/07/24
..
19
19
991858699.UG.FTS.B,
29.49%,
2/07/24
..
43
38
991860170.UG.FTS.B,
29.49%,
2/07/24
..
338
343
991860524.UG.FTS.B,
29.49%,
2/07/24
..
450
449
991862617.UG.FTS.B,
29.49%,
2/07/24
..
16
16
991866154.UG.FTS.B,
29.49%,
2/07/24
..
92
22
991871627.UG.FTS.B,
29.49%,
2/07/24
..
9
9
991874547.UG.FTS.B,
29.49%,
2/07/24
..
60
60
991877124.UG.FTS.B,
29.49%,
2/07/24
..
104
(5)
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991878603.UG.FTS.B,
29.49%,
2/07/24
..
$
36
$
3
991881568.UG.FTS.B,
29.49%,
2/07/24
..
258
261
991883582.UG.FTS.B,
29.49%,
2/07/24
..
35
35
991884351.UG.FTS.B,
29.49%,
2/07/24
..
64
4
991886611.UG.FTS.B,
29.49%,
2/07/24
..
110
14
991889120.UG.FTS.B,
29.49%,
2/07/24
..
260
260
991895135.UG.FTS.B,
29.49%,
2/07/24
..
115
115
991895535.UG.FTS.B,
29.49%,
2/07/24
..
237
235
991897062.UG.FTS.B,
29.49%,
2/07/24
..
56
56
991906492.UG.FTS.B,
29.49%,
2/07/24
..
1
1
991907860.UG.FTS.B,
29.49%,
2/07/24
..
135
18
991911201.UG.FTS.B,
29.49%,
2/07/24
..
385
381
991916558.UG.FTS.B,
29.49%,
2/07/24
..
36
36
991918742.UG.FTS.B,
29.49%,
2/07/24
..
125
125
991918817.UG.FTS.B,
29.49%,
2/07/24
..
119
118
991920447.UG.FTS.B,
29.49%,
2/07/24
..
69
70
991920714.UG.FTS.B,
29.49%,
2/07/24
..
117
117
991927650.UG.FTS.B,
29.49%,
2/07/24
..
97
7
991928006.UG.FTS.B,
29.49%,
2/07/24
..
90
12
991931612.UG.FTS.B,
29.49%,
2/07/24
..
3
3
991888412.UG.FTS.B,
14.48%,
2/09/24
..
93
95
991786830.UG.FTS.B,
15.47%,
2/09/24
..
30
31
991864002.UG.FTS.B,
15.49%,
2/09/24
..
55
4
991734323.UG.FTS.B,
16.49%,
2/09/24
..
196
199
991789542.UG.FTS.B,
29.49%,
4/24/24
..
82
7
991487037.UG.FTS.B,
14.98%,
1/13/25
..
1,584
1,617
991499314.UG.FTS.B,
16.99%,
1/14/25
..
377
385
991506497.UG.FTS.B,
15%,
1/15/25
.....
254
254
991508732.UG.FTS.B,
16.99%,
1/15/25
..
1,499
950
991512643.UG.FTS.B,
16.99%,
1/15/25
..
1,858
1,891
991514741.UG.FTS.B,
17.99%,
1/15/25
..
4,031
4,115
991515511.UG.FTS.B,
16.99%,
1/16/25
..
166
170
991534259.UG.FTS.B,
19.99%,
1/18/25
..
2,271
2,336
991540248.UG.FTS.B,
19.99%,
1/18/25
..
204
202
991542919.UG.FTS.B,
19.99%,
1/18/25
..
490
505
991543349.UG.FTS.B,
19.99%,
1/18/25
..
1,154
1,189
991569157.UG.FTS.B,
19.99%,
1/18/25
..
160
106
991596625.UG.FTS.B,
19.99%,
1/18/25
..
304
308
991613831.UG.FTS.B,
19.99%,
1/18/25
..
357
368
991670994.UG.FTS.B,
19.99%,
1/18/25
..
21
21
991738583.UG.FTS.B,
19.99%,
1/18/25
..
162
20
991741235.UG.FTS.B,
19.99%,
1/18/25
..
69
71
991745136.UG.FTS.B,
19.99%,
1/18/25
..
71
72
991764285.UG.FTS.B,
19.99%,
1/18/25
..
247
0
991535930.UG.FTS.B,
27.95%,
1/18/25
..
1,819
1,874
991541397.UG.FTS.B,
27.95%,
1/18/25
..
284
283
991553396.UG.FTS.B,
27.99%,
1/18/25
..
204
205
991536073.UG.FTS.B,
28.98%,
1/18/25
..
188
(7)
991537321.UG.FTS.B,
28.98%,
1/18/25
..
223
222
991538559.UG.FTS.B,
28.98%,
1/18/25
..
91
91
991541578.UG.FTS.B,
28.98%,
1/18/25
..
81
82
991541730.UG.FTS.B,
28.98%,
1/18/25
..
1,124
1,134
991547864.UG.FTS.B,
28.98%,
1/18/25
..
703
724
991548072.UG.FTS.B,
28.98%,
1/18/25
..
952
954
991553822.UG.FTS.B,
28.98%,
1/18/25
..
60
59
991563160.UG.FTS.B,
28.98%,
1/18/25
..
96
67
991564531.UG.FTS.B,
28.98%,
1/18/25
..
444
440
991567254.UG.FTS.B,
28.98%,
1/18/25
..
1,535
(60)
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
131
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991571658.UG.FTS.B,
28.98%,
1/18/25
..
$
165
$
111
991578090.UG.FTS.B,
28.98%,
1/18/25
..
–
–
991586801.UG.FTS.B,
28.98%,
1/18/25
..
230
233
991592026.UG.FTS.B,
28.98%,
1/18/25
..
197
203
991605601.UG.FTS.B,
28.98%,
1/18/25
..
79
78
991625562.UG.FTS.B,
28.98%,
1/18/25
..
91
65
991633024.UG.FTS.B,
28.98%,
1/18/25
..
182
181
991643127.UG.FTS.B,
28.98%,
1/18/25
..
180
183
991643598.UG.FTS.B,
28.98%,
1/18/25
..
158
163
991644065.UG.FTS.B,
28.98%,
1/18/25
..
823
837
991646974.UG.FTS.B,
28.98%,
1/18/25
..
202
207
991660042.UG.FTS.B,
28.98%,
1/18/25
..
186
189
991662279.UG.FTS.B,
28.98%,
1/18/25
..
119
121
991668582.UG.FTS.B,
28.98%,
1/18/25
..
374
28
991669237.UG.FTS.B,
28.98%,
1/18/25
..
86
88
991709695.UG.FTS.B,
28.98%,
1/18/25
..
61
60
991727934.UG.FTS.B,
28.98%,
1/18/25
..
329
23
991734107.UG.FTS.B,
28.98%,
1/18/25
..
65
66
991767339.UG.FTS.B,
28.98%,
1/18/25
..
51
51
991770623.UG.FTS.B,
28.98%,
1/18/25
..
786
799
991640372.UG.FTS.B,
29.45%,
1/18/25
..
589
598
991757891.UG.FTS.B,
29.45%,
1/18/25
..
40
40
991766780.UG.FTS.B,
29.45%,
1/18/25
..
153
155
991534976.UG.FTS.B,
29.46%,
1/18/25
..
1,282
1,312
991554221.UG.FTS.B,
29.46%,
1/18/25
..
2,770
2,797
991554391.UG.FTS.B,
29.46%,
1/18/25
..
599
605
991629920.UG.FTS.B,
29.46%,
1/18/25
..
94
94
991670069.UG.FTS.B,
29.46%,
1/18/25
..
557
573
991567035.UG.FTS.B,
29.48%,
1/18/25
..
577
594
991534418.UG.FTS.B,
29.49%,
1/18/25
..
165
11
991534713.UG.FTS.B,
29.49%,
1/18/25
..
391
399
991535459.UG.FTS.B,
29.49%,
1/18/25
..
242
250
991535708.UG.FTS.B,
29.49%,
1/18/25
..
134
136
991536072.UG.FTS.B,
29.49%,
1/18/25
..
452
466
991536876.UG.FTS.B,
29.49%,
1/18/25
..
284
287
991536929.UG.FTS.B,
29.49%,
1/18/25
..
1,374
1,387
991537021.UG.FTS.B,
29.49%,
1/18/25
..
179
184
991538752.UG.FTS.B,
29.49%,
1/18/25
..
29
29
991540546.UG.FTS.B,
29.49%,
1/18/25
..
104
107
991540582.UG.FTS.B,
29.49%,
1/18/25
..
1,662
1,676
991541260.UG.FTS.B,
29.49%,
1/18/25
..
105
109
991542221.UG.FTS.B,
29.49%,
1/18/25
..
253
261
991542253.UG.FTS.B,
29.49%,
1/18/25
..
348
351
991543638.UG.FTS.B,
29.49%,
1/18/25
..
141
143
991543705.UG.FTS.B,
29.49%,
1/18/25
..
46
46
991544799.UG.FTS.B,
29.49%,
1/18/25
..
247
249
991545277.UG.FTS.B,
29.49%,
1/18/25
..
370
381
991545704.UG.FTS.B,
29.49%,
1/18/25
..
205
203
991546622.UG.FTS.B,
29.49%,
1/18/25
..
1,095
1,126
991547229.UG.FTS.B,
29.49%,
1/18/25
..
445
456
991555804.UG.FTS.B,
29.49%,
1/18/25
..
71
71
991556476.UG.FTS.B,
29.49%,
1/18/25
..
707
723
991560367.UG.FTS.B,
29.49%,
1/18/25
..
532
540
991563121.UG.FTS.B,
29.49%,
1/18/25
..
1,048
1,079
991563278.UG.FTS.B,
29.49%,
1/18/25
..
217
224
991575618.UG.FTS.B,
29.49%,
1/18/25
..
70
69
991576670.UG.FTS.B,
29.49%,
1/18/25
..
113
112
991577286.UG.FTS.B,
29.49%,
1/18/25
..
586
603
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991580004.UG.FTS.B,
29.49%,
1/18/25
..
$
114
$
118
991584589.UG.FTS.B,
29.49%,
1/18/25
..
252
251
991608770.UG.FTS.B,
29.49%,
1/18/25
..
213
215
991612123.UG.FTS.B,
29.49%,
1/18/25
..
28
28
991620966.UG.FTS.B,
29.49%,
1/18/25
..
644
639
991624817.UG.FTS.B,
29.49%,
1/18/25
..
231
230
991636748.UG.FTS.B,
29.49%,
1/18/25
..
865
112
991637270.UG.FTS.B,
29.49%,
1/18/25
..
81
83
991641889.UG.FTS.B,
29.49%,
1/18/25
..
221
227
991654762.UG.FTS.B,
29.49%,
1/18/25
..
220
217
991692788.UG.FTS.B,
29.49%,
1/18/25
..
77
79
991703279.UG.FTS.B,
29.49%,
1/18/25
..
11
11
991705157.UG.FTS.B,
29.49%,
1/18/25
..
136
135
991757569.UG.FTS.B,
29.49%,
1/18/25
..
0
0
991757664.UG.FTS.B,
29.49%,
1/18/25
..
72
74
991764724.UG.FTS.B,
29.49%,
1/18/25
..
20
(1)
991765922.UG.FTS.B,
29.49%,
1/18/25
..
85
6
991765962.UG.FTS.B,
29.49%,
1/18/25
..
94
97
991766828.UG.FTS.B,
29.49%,
1/18/25
..
167
168
991768700.UG.FTS.B,
29.49%,
1/18/25
..
241
242
991768927.UG.FTS.B,
29.49%,
1/18/25
..
46
46
991770051.UG.FTS.B,
29.49%,
1/18/25
..
41
42
991771306.UG.FTS.B,
29.49%,
1/18/25
..
378
384
991613322.UG.FTS.B,
29.99%,
1/18/25
..
218
224
991664635.UG.FTS.B,
18.97%,
1/19/25
..
96
96
991713909.UG.FTS.B,
18.97%,
1/19/25
..
272
276
991547598.UG.FTS.B,
19.99%,
1/19/25
..
150
155
991553350.UG.FTS.B,
19.99%,
1/19/25
..
86
88
991556775.UG.FTS.B,
19.99%,
1/19/25
..
126
128
991558621.UG.FTS.B,
19.99%,
1/19/25
..
187
193
991577932.UG.FTS.B,
19.99%,
1/19/25
..
412
34
991593524.UG.FTS.B,
19.99%,
1/19/25
..
139
143
991610154.UG.FTS.B,
19.99%,
1/19/25
..
698
720
991615796.UG.FTS.B,
19.99%,
1/19/25
..
217
223
991617879.UG.FTS.B,
19.99%,
1/19/25
..
1,397
1,440
991640553.UG.FTS.B,
19.99%,
1/19/25
..
760
773
991650417.UG.FTS.B,
19.99%,
1/19/25
..
260
265
991706987.UG.FTS.B,
19.99%,
1/19/25
..
792
805
991713026.UG.FTS.B,
19.99%,
1/19/25
..
264
269
991713921.UG.FTS.B,
19.99%,
1/19/25
..
4
4
991720021.UG.FTS.B,
19.99%,
1/19/25
..
1,315
1,339
991729446.UG.FTS.B,
19.99%,
1/19/25
..
327
333
991764139.UG.FTS.B,
19.99%,
1/19/25
..
72
74
991766471.UG.FTS.B,
19.99%,
1/19/25
..
256
255
991774110.UG.FTS.B,
19.99%,
1/19/25
..
173
21
991698886.UG.FTS.B,
21.46%,
1/19/25
..
276
276
991775067.UG.FTS.B,
21.98%,
1/19/25
..
182
22
991690575.UG.FTS.B,
25.95%,
1/19/25
..
483
484
991777867.UG.FTS.B,
25.95%,
1/19/25
..
83
83
991775187.UG.FTS.B,
26.94%,
1/19/25
..
629
629
991570838.UG.FTS.B,
27.99%,
1/19/25
..
253
260
991721533.UG.FTS.B,
27.99%,
1/19/25
..
0
0
991779529.UG.FTS.B,
27.99%,
1/19/25
..
363
369
991542800.UG.FTS.B,
28.98%,
1/19/25
..
1,075
(15)
991544331.UG.FTS.B,
28.98%,
1/19/25
..
636
646
991547565.UG.FTS.B,
28.98%,
1/19/25
..
167
169
991555993.UG.FTS.B,
28.98%,
1/19/25
..
18
18
991556346.UG.FTS.B,
28.98%,
1/19/25
..
225
232
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
132
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991580652.UG.FTS.B,
28.98%,
1/19/25
..
$
108
$
111
991581396.UG.FTS.B,
28.98%,
1/19/25
..
888
915
991607962.UG.FTS.B,
28.98%,
1/19/25
..
138
(5)
991652010.UG.FTS.B,
28.98%,
1/19/25
..
344
349
991655625.UG.FTS.B,
28.98%,
1/19/25
..
241
160
991669072.UG.FTS.B,
28.98%,
1/19/25
..
265
270
991669843.UG.FTS.B,
28.98%,
1/19/25
..
146
147
991680250.UG.FTS.B,
28.98%,
1/19/25
..
440
447
991681134.UG.FTS.B,
28.98%,
1/19/25
..
145
147
991684419.UG.FTS.B,
28.98%,
1/19/25
..
721
734
991688747.UG.FTS.B,
28.98%,
1/19/25
..
110
112
991689404.UG.FTS.B,
28.98%,
1/19/25
..
194
196
991694508.UG.FTS.B,
28.98%,
1/19/25
..
295
300
991694833.UG.FTS.B,
28.98%,
1/19/25
..
128
127
991698089.UG.FTS.B,
28.98%,
1/19/25
..
159
161
991707908.UG.FTS.B,
28.98%,
1/19/25
..
179
181
991729327.UG.FTS.B,
28.98%,
1/19/25
..
128
130
991734745.UG.FTS.B,
28.98%,
1/19/25
..
419
426
991738232.UG.FTS.B,
28.98%,
1/19/25
..
51
52
991743451.UG.FTS.B,
28.98%,
1/19/25
..
96
68
991746200.UG.FTS.B,
28.98%,
1/19/25
..
479
488
991746728.UG.FTS.B,
28.98%,
1/19/25
..
104
107
991747421.UG.FTS.B,
28.98%,
1/19/25
..
73
74
991747495.UG.FTS.B,
28.98%,
1/19/25
..
35
34
991748030.UG.FTS.B,
28.98%,
1/19/25
..
142
144
991750526.UG.FTS.B,
28.98%,
1/19/25
..
621
631
991760907.UG.FTS.B,
28.98%,
1/19/25
..
281
285
991762526.UG.FTS.B,
28.98%,
1/19/25
..
452
459
991764374.UG.FTS.B,
28.98%,
1/19/25
..
19
19
991764450.UG.FTS.B,
28.98%,
1/19/25
..
65
(2)
991768667.UG.FTS.B,
28.98%,
1/19/25
..
12
11
991770244.UG.FTS.B,
28.98%,
1/19/25
..
591
600
991771314.UG.FTS.B,
28.98%,
1/19/25
..
42
3
991771984.UG.FTS.B,
28.98%,
1/19/25
..
704
716
991775019.UG.FTS.B,
28.98%,
1/19/25
..
440
447
991778450.UG.FTS.B,
28.98%,
1/19/25
..
81
83
991783038.UG.FTS.B,
28.98%,
1/19/25
..
520
528
991783620.UG.FTS.B,
28.98%,
1/19/25
..
352
358
991784176.UG.FTS.B,
28.98%,
1/19/25
..
330
335
991616379.UG.FTS.B,
29.45%,
1/19/25
..
286
286
991541493.UG.FTS.B,
29.46%,
1/19/25
..
230
228
991543182.UG.FTS.B,
29.46%,
1/19/25
..
1,135
1,161
991546906.UG.FTS.B,
29.46%,
1/19/25
..
11
11
991547157.UG.FTS.B,
29.46%,
1/19/25
..
821
827
991550875.UG.FTS.B,
29.47%,
1/19/25
..
1,801
1,855
991678239.UG.FTS.B,
29.47%,
1/19/25
..
176
(7)
991767247.UG.FTS.B,
29.47%,
1/19/25
..
553
560
991551878.UG.FTS.B,
29.48%,
1/19/25
..
1,025
1,018
991662418.UG.FTS.B,
29.48%,
1/19/25
..
21
21
991681269.UG.FTS.B,
29.48%,
1/19/25
..
208
210
991541636.UG.FTS.B,
29.49%,
1/19/25
..
18
18
991542015.UG.FTS.B,
29.49%,
1/19/25
..
372
381
991543258.UG.FTS.B,
29.49%,
1/19/25
..
650
646
991545568.UG.FTS.B,
29.49%,
1/19/25
..
1,331
1,363
991546526.UG.FTS.B,
29.49%,
1/19/25
..
70
70
991547193.UG.FTS.B,
29.49%,
1/19/25
..
165
169
991547744.UG.FTS.B,
29.49%,
1/19/25
..
186
40
991547832.UG.FTS.B,
29.49%,
1/19/25
..
259
263
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991548296.UG.FTS.B,
29.49%,
1/19/25
..
$
206
$
210
991553192.UG.FTS.B,
29.49%,
1/19/25
..
–
–
991553195.UG.FTS.B,
29.49%,
1/19/25
..
38
33
991556769.UG.FTS.B,
29.49%,
1/19/25
..
163
166
991557306.UG.FTS.B,
29.49%,
1/19/25
..
812
835
991559196.UG.FTS.B,
29.49%,
1/19/25
..
2,336
1,655
991563658.UG.FTS.B,
29.49%,
1/19/25
..
1,001
1,011
991567374.UG.FTS.B,
29.49%,
1/19/25
..
80
80
991567620.UG.FTS.B,
29.49%,
1/19/25
..
331
331
991569855.UG.FTS.B,
29.49%,
1/19/25
..
143
142
991571908.UG.FTS.B,
29.49%,
1/19/25
..
156
157
991572593.UG.FTS.B,
29.49%,
1/19/25
..
572
589
991575387.UG.FTS.B,
29.49%,
1/19/25
..
233
240
991579317.UG.FTS.B,
29.49%,
1/19/25
..
180
183
991587154.UG.FTS.B,
29.49%,
1/19/25
..
224
225
991587244.UG.FTS.B,
29.49%,
1/19/25
..
176
181
991589283.UG.FTS.B,
29.49%,
1/19/25
..
713
734
991589395.UG.FTS.B,
29.49%,
1/19/25
..
495
499
991590614.UG.FTS.B,
29.49%,
1/19/25
..
264
272
991616062.UG.FTS.B,
29.49%,
1/19/25
..
409
402
991624460.UG.FTS.B,
29.49%,
1/19/25
..
200
206
991631516.UG.FTS.B,
29.49%,
1/19/25
..
293
38
991647737.UG.FTS.B,
29.49%,
1/19/25
..
136
138
991662152.UG.FTS.B,
29.49%,
1/19/25
..
6
6
991663931.UG.FTS.B,
29.49%,
1/19/25
..
33
34
991666296.UG.FTS.B,
29.49%,
1/19/25
..
212
215
991668851.UG.FTS.B,
29.49%,
1/19/25
..
115
118
991669943.UG.FTS.B,
29.49%,
1/19/25
..
30
30
991676239.UG.FTS.B,
29.49%,
1/19/25
..
957
972
991684554.UG.FTS.B,
29.49%,
1/19/25
..
43
43
991688411.UG.FTS.B,
29.49%,
1/19/25
..
141
143
991698039.UG.FTS.B,
29.49%,
1/19/25
..
210
212
991700162.UG.FTS.B,
29.49%,
1/19/25
..
167
165
991701083.UG.FTS.B,
29.49%,
1/19/25
..
226
16
991710813.UG.FTS.B,
29.49%,
1/19/25
..
84
86
991719174.UG.FTS.B,
29.49%,
1/19/25
..
1,632
1,643
991721177.UG.FTS.B,
29.49%,
1/19/25
..
174
172
991721350.UG.FTS.B,
29.49%,
1/19/25
..
2,206
2,226
991732729.UG.FTS.B,
29.49%,
1/19/25
..
441
441
991741346.UG.FTS.B,
29.49%,
1/19/25
..
89
91
991742324.UG.FTS.B,
29.49%,
1/19/25
..
30
30
991755764.UG.FTS.B,
29.49%,
1/19/25
..
55
56
991764318.UG.FTS.B,
29.49%,
1/19/25
..
85
87
991765074.UG.FTS.B,
29.49%,
1/19/25
..
6
6
991765926.UG.FTS.B,
29.49%,
1/19/25
..
60
9
991766229.UG.FTS.B,
29.49%,
1/19/25
..
182
185
991767220.UG.FTS.B,
29.49%,
1/19/25
..
54
55
991769796.UG.FTS.B,
29.49%,
1/19/25
..
137
139
991771466.UG.FTS.B,
29.49%,
1/19/25
..
176
178
991771666.UG.FTS.B,
29.49%,
1/19/25
..
440
444
991772043.UG.FTS.B,
29.49%,
1/19/25
..
101
104
991772473.UG.FTS.B,
29.49%,
1/19/25
..
507
514
991773161.UG.FTS.B,
29.49%,
1/19/25
..
440
447
991773464.UG.FTS.B,
29.49%,
1/19/25
..
263
18
991773734.UG.FTS.B,
29.49%,
1/19/25
..
59
60
991773773.UG.FTS.B,
29.49%,
1/19/25
..
352
358
991776470.UG.FTS.B,
29.49%,
1/19/25
..
25
25
991778366.UG.FTS.B,
29.49%,
1/19/25
..
14
14
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
133
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991780141.UG.FTS.B,
29.49%,
1/19/25
..
$
75
$
77
991782580.UG.FTS.B,
29.49%,
1/19/25
..
105
106
991783428.UG.FTS.B,
29.49%,
1/19/25
..
1,761
1,790
991783464.UG.FTS.B,
29.49%,
1/19/25
..
1,577
1,567
991784214.UG.FTS.B,
29.49%,
1/19/25
..
5,455
(219)
991546483.UG.FTS.B,
Zero
Cpn,
1/20/25
.
635
–
991560712.UG.FTS.B,
Zero
Cpn,
1/20/25
.
200
–
991563516.UG.FTS.B,
Zero
Cpn,
1/20/25
.
83
6
991564331.UG.FTS.B,
Zero
Cpn,
1/20/25
.
253
–
991577046.UG.FTS.B,
Zero
Cpn,
1/20/25
.
140
10
991613801.UG.FTS.B,
Zero
Cpn,
1/20/25
.
2,221
–
991627022.UG.FTS.B,
Zero
Cpn,
1/20/25
.
100
7
991641940.UG.FTS.B,
Zero
Cpn,
1/20/25
.
923
–
991645061.UG.FTS.B,
Zero
Cpn,
1/20/25
.
58
–
991714675.UG.FTS.B,
Zero
Cpn,
1/20/25
.
36
–
991741194.UG.FTS.B,
Zero
Cpn,
1/20/25
.
245
–
991746253.UG.FTS.B,
Zero
Cpn,
1/20/25
.
130
–
991787423.UG.FTS.B,
14.98%,
1/20/25
..
626
630
991564814.UG.FTS.B,
16.99%,
1/20/25
..
857
884
991546373.UG.FTS.B,
19.99%,
1/20/25
..
71
71
991546444.UG.FTS.B,
19.99%,
1/20/25
..
29
29
991547018.UG.FTS.B,
19.99%,
1/20/25
..
163
20
991550110.UG.FTS.B,
19.99%,
1/20/25
..
352
363
991550463.UG.FTS.B,
19.99%,
1/20/25
..
1,761
1,817
991551168.UG.FTS.B,
19.99%,
1/20/25
..
2,102
2,161
991553785.UG.FTS.B,
19.99%,
1/20/25
..
248
159
991553870.UG.FTS.B,
19.99%,
1/20/25
..
55
56
991556459.UG.FTS.B,
19.99%,
1/20/25
..
491
507
991558664.UG.FTS.B,
19.99%,
1/20/25
..
410
417
991560098.UG.FTS.B,
19.99%,
1/20/25
..
195
202
991561880.UG.FTS.B,
19.99%,
1/20/25
..
36
36
991562687.UG.FTS.B,
19.99%,
1/20/25
..
138
10
991563863.UG.FTS.B,
19.99%,
1/20/25
..
364
370
991567021.UG.FTS.B,
19.99%,
1/20/25
..
482
497
991569516.UG.FTS.B,
19.99%,
1/20/25
..
1,013
1,044
991571519.UG.FTS.B,
19.99%,
1/20/25
..
97
96
991575551.UG.FTS.B,
19.99%,
1/20/25
..
1,186
1,223
991575610.UG.FTS.B,
19.99%,
1/20/25
..
2,470
2,478
991575708.UG.FTS.B,
19.99%,
1/20/25
..
186
191
991579043.UG.FTS.B,
19.99%,
1/20/25
..
1,825
1,839
991579154.UG.FTS.B,
19.99%,
1/20/25
..
179
184
991579762.UG.FTS.B,
19.99%,
1/20/25
..
290
298
991579907.UG.FTS.B,
19.99%,
1/20/25
..
293
298
991580041.UG.FTS.B,
19.99%,
1/20/25
..
403
413
991580804.UG.FTS.B,
19.99%,
1/20/25
..
145
144
991580969.UG.FTS.B,
19.99%,
1/20/25
..
1,384
1,427
991586791.UG.FTS.B,
19.99%,
1/20/25
..
280
289
991589726.UG.FTS.B,
19.99%,
1/20/25
..
68
69
991591112.UG.FTS.B,
19.99%,
1/20/25
..
342
353
991592818.UG.FTS.B,
19.99%,
1/20/25
..
49
50
991594976.UG.FTS.B,
19.99%,
1/20/25
..
1,042
1,038
991601962.UG.FTS.B,
19.99%,
1/20/25
..
1,209
1,241
991604556.UG.FTS.B,
19.99%,
1/20/25
..
324
334
991607111.UG.FTS.B,
19.99%,
1/20/25
..
2,618
186
991611311.UG.FTS.B,
19.99%,
1/20/25
..
57
58
991612039.UG.FTS.B,
19.99%,
1/20/25
..
168
171
991613122.UG.FTS.B,
19.99%,
1/20/25
..
238
245
991615000.UG.FTS.B,
19.99%,
1/20/25
..
462
476
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991615131.UG.FTS.B,
19.99%,
1/20/25
..
$
94
$
96
991626332.UG.FTS.B,
19.99%,
1/20/25
..
512
527
991627626.UG.FTS.B,
19.99%,
1/20/25
..
77
77
991633379.UG.FTS.B,
19.99%,
1/20/25
..
60
62
991633465.UG.FTS.B,
19.99%,
1/20/25
..
17
17
991635746.UG.FTS.B,
19.99%,
1/20/25
..
842
848
991642370.UG.FTS.B,
19.99%,
1/20/25
..
290
299
991643091.UG.FTS.B,
19.99%,
1/20/25
..
19
19
991646361.UG.FTS.B,
19.99%,
1/20/25
..
271
276
991648690.UG.FTS.B,
19.99%,
1/20/25
..
119
121
991650312.UG.FTS.B,
19.99%,
1/20/25
..
304
309
991666023.UG.FTS.B,
19.99%,
1/20/25
..
219
225
991674508.UG.FTS.B,
19.99%,
1/20/25
..
27
28
991676336.UG.FTS.B,
19.99%,
1/20/25
..
163
166
991679884.UG.FTS.B,
19.99%,
1/20/25
..
12
12
991699684.UG.FTS.B,
19.99%,
1/20/25
..
152
155
991713510.UG.FTS.B,
19.99%,
1/20/25
..
352
225
991737545.UG.FTS.B,
19.99%,
1/20/25
..
372
377
991751909.UG.FTS.B,
19.99%,
1/20/25
..
174
177
991756492.UG.FTS.B,
19.99%,
1/20/25
..
65
66
991700996.UG.FTS.B,
23.95%,
1/20/25
..
322
324
991674160.UG.FTS.B,
25.95%,
1/20/25
..
249
162
991717340.UG.FTS.B,
25.95%,
1/20/25
..
198
198
991545216.UG.FTS.B,
26.94%,
1/20/25
..
156
155
991546401.UG.FTS.B,
26.94%,
1/20/25
..
18
18
991552205.UG.FTS.B,
26.94%,
1/20/25
..
89
90
991557467.UG.FTS.B,
26.94%,
1/20/25
..
107
108
991696729.UG.FTS.B,
26.94%,
1/20/25
..
451
447
991548836.UG.FTS.B,
27.95%,
1/20/25
..
52
52
991555184.UG.FTS.B,
27.95%,
1/20/25
..
7
7
991571963.UG.FTS.B,
27.95%,
1/20/25
..
130
17
991600110.UG.FTS.B,
27.95%,
1/20/25
..
933
121
991693406.UG.FTS.B,
27.95%,
1/20/25
..
1,283
1,298
991743185.UG.FTS.B,
27.95%,
1/20/25
..
33
33
991552965.UG.FTS.B,
27.99%,
1/20/25
..
198
204
991560514.UG.FTS.B,
27.99%,
1/20/25
..
617
43
991567052.UG.FTS.B,
27.99%,
1/20/25
..
100
103
991622176.UG.FTS.B,
27.99%,
1/20/25
..
1
1
991626627.UG.FTS.B,
27.99%,
1/20/25
..
186
124
991633013.UG.FTS.B,
27.99%,
1/20/25
..
–
–
991636359.UG.FTS.B,
27.99%,
1/20/25
..
301
21
991646119.UG.FTS.B,
27.99%,
1/20/25
..
428
285
991653855.UG.FTS.B,
27.99%,
1/20/25
..
285
292
991682363.UG.FTS.B,
27.99%,
1/20/25
..
2,081
2,133
991723012.UG.FTS.B,
27.99%,
1/20/25
..
442
449
991744999.UG.FTS.B,
27.99%,
1/20/25
..
22
23
991544408.UG.FTS.B,
28.98%,
1/20/25
..
120
124
991544416.UG.FTS.B,
28.98%,
1/20/25
..
1,172
1,169
991544778.UG.FTS.B,
28.98%,
1/20/25
..
74
75
991544854.UG.FTS.B,
28.98%,
1/20/25
..
657
676
991545880.UG.FTS.B,
28.98%,
1/20/25
..
98
100
991545892.UG.FTS.B,
28.98%,
1/20/25
..
161
160
991546136.UG.FTS.B,
28.98%,
1/20/25
..
108
107
991546205.UG.FTS.B,
28.98%,
1/20/25
..
287
37
991546636.UG.FTS.B,
28.98%,
1/20/25
..
113
116
991546850.UG.FTS.B,
28.98%,
1/20/25
..
2,131
2,150
991547172.UG.FTS.B,
28.98%,
1/20/25
..
2,516
2,593
991547211.UG.FTS.B,
28.98%,
1/20/25
..
92
94
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
134
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991547409.UG.FTS.B,
28.98%,
1/20/25
..
$
100
$
103
991547592.UG.FTS.B,
28.98%,
1/20/25
..
5,180
3,226
991547593.UG.FTS.B,
28.98%,
1/20/25
..
316
326
991547613.UG.FTS.B,
28.98%,
1/20/25
..
–
–
991547657.UG.FTS.B,
28.98%,
1/20/25
..
1
1
991547777.UG.FTS.B,
28.98%,
1/20/25
..
254
256
991548016.UG.FTS.B,
28.98%,
1/20/25
..
134
138
991548849.UG.FTS.B,
28.98%,
1/20/25
..
141
93
991550332.UG.FTS.B,
28.98%,
1/20/25
..
214
220
991551896.UG.FTS.B,
28.98%,
1/20/25
..
173
178
991552067.UG.FTS.B,
28.98%,
1/20/25
..
78
80
991552315.UG.FTS.B,
28.98%,
1/20/25
..
1,345
1,386
991552893.UG.FTS.B,
28.98%,
1/20/25
..
534
548
991553649.UG.FTS.B,
28.98%,
1/20/25
..
1,352
1,393
991554237.UG.FTS.B,
28.98%,
1/20/25
..
97
100
991554385.UG.FTS.B,
28.98%,
1/20/25
..
343
353
991555935.UG.FTS.B,
28.98%,
1/20/25
..
207
27
991555984.UG.FTS.B,
28.98%,
1/20/25
..
43
44
991556127.UG.FTS.B,
28.98%,
1/20/25
..
478
480
991556261.UG.FTS.B,
28.98%,
1/20/25
..
1,008
1,038
991556547.UG.FTS.B,
28.98%,
1/20/25
..
146
150
991556570.UG.FTS.B,
28.98%,
1/20/25
..
493
64
991557051.UG.FTS.B,
28.98%,
1/20/25
..
205
212
991557666.UG.FTS.B,
28.98%,
1/20/25
..
1,355
1,396
991557793.UG.FTS.B,
28.98%,
1/20/25
..
450
458
991557809.UG.FTS.B,
28.98%,
1/20/25
..
117
121
991558124.UG.FTS.B,
28.98%,
1/20/25
..
38
38
991558482.UG.FTS.B,
28.98%,
1/20/25
..
1,780
1,834
991558522.UG.FTS.B,
28.98%,
1/20/25
..
180
185
991558703.UG.FTS.B,
28.98%,
1/20/25
..
969
999
991559055.UG.FTS.B,
28.98%,
1/20/25
..
4,120
4,163
991559325.UG.FTS.B,
28.98%,
1/20/25
..
334
23
991559725.UG.FTS.B,
28.98%,
1/20/25
..
765
788
991560150.UG.FTS.B,
28.98%,
1/20/25
..
114
117
991561317.UG.FTS.B,
28.98%,
1/20/25
..
27
27
991561334.UG.FTS.B,
28.98%,
1/20/25
..
480
493
991561686.UG.FTS.B,
28.98%,
1/20/25
..
235
237
991562097.UG.FTS.B,
28.98%,
1/20/25
..
30
30
991562215.UG.FTS.B,
28.98%,
1/20/25
..
10
10
991562380.UG.FTS.B,
28.98%,
1/20/25
..
225
232
991563193.UG.FTS.B,
28.98%,
1/20/25
..
446
449
991563837.UG.FTS.B,
28.98%,
1/20/25
..
719
741
991563880.UG.FTS.B,
28.98%,
1/20/25
..
102
104
991564330.UG.FTS.B,
28.98%,
1/20/25
..
129
133
991564566.UG.FTS.B,
28.98%,
1/20/25
..
84
86
991565562.UG.FTS.B,
28.98%,
1/20/25
..
963
979
991566285.UG.FTS.B,
28.98%,
1/20/25
..
265
273
991566522.UG.FTS.B,
28.98%,
1/20/25
..
1,795
1,851
991567188.UG.FTS.B,
28.98%,
1/20/25
..
102
105
991567575.UG.FTS.B,
28.98%,
1/20/25
..
101
104
991567576.UG.FTS.B,
28.98%,
1/20/25
..
147
31
991567739.UG.FTS.B,
28.98%,
1/20/25
..
18
18
991568378.UG.FTS.B,
28.98%,
1/20/25
..
323
329
991568849.UG.FTS.B,
28.98%,
1/20/25
..
166
171
991568936.UG.FTS.B,
28.98%,
1/20/25
..
315
325
991569159.UG.FTS.B,
28.98%,
1/20/25
..
82
84
991570565.UG.FTS.B,
28.98%,
1/20/25
..
140
144
991571433.UG.FTS.B,
28.98%,
1/20/25
..
184
189
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991572088.UG.FTS.B,
28.98%,
1/20/25
..
$
560
$
578
991572223.UG.FTS.B,
28.98%,
1/20/25
..
1,268
1,307
991572292.UG.FTS.B,
28.98%,
1/20/25
..
78
80
991572711.UG.FTS.B,
28.98%,
1/20/25
..
31
31
991572818.UG.FTS.B,
28.98%,
1/20/25
..
42
43
991575019.UG.FTS.B,
28.98%,
1/20/25
..
539
555
991575102.UG.FTS.B,
28.98%,
1/20/25
..
1,325
1,366
991575747.UG.FTS.B,
28.98%,
1/20/25
..
82
82
991576855.UG.FTS.B,
28.98%,
1/20/25
..
2,029
1,366
991578462.UG.FTS.B,
28.98%,
1/20/25
..
60
61
991578599.UG.FTS.B,
28.98%,
1/20/25
..
85
84
991579033.UG.FTS.B,
28.98%,
1/20/25
..
205
210
991580332.UG.FTS.B,
28.98%,
1/20/25
..
478
486
991580751.UG.FTS.B,
28.98%,
1/20/25
..
408
406
991581464.UG.FTS.B,
28.98%,
1/20/25
..
705
726
991581893.UG.FTS.B,
28.98%,
1/20/25
..
360
370
991582270.UG.FTS.B,
28.98%,
1/20/25
..
435
443
991582316.UG.FTS.B,
28.98%,
1/20/25
..
626
645
991583116.UG.FTS.B,
28.98%,
1/20/25
..
349
360
991583574.UG.FTS.B,
28.98%,
1/20/25
..
366
377
991583705.UG.FTS.B,
28.98%,
1/20/25
..
117
8
991584117.UG.FTS.B,
28.98%,
1/20/25
..
712
732
991585256.UG.FTS.B,
28.98%,
1/20/25
..
11
11
991586736.UG.FTS.B,
28.98%,
1/20/25
..
276
275
991588111.UG.FTS.B,
28.98%,
1/20/25
..
218
220
991589534.UG.FTS.B,
28.98%,
1/20/25
..
537
553
991589805.UG.FTS.B,
28.98%,
1/20/25
..
69
71
991590552.UG.FTS.B,
28.98%,
1/20/25
..
408
420
991591207.UG.FTS.B,
28.98%,
1/20/25
..
94
95
991591623.UG.FTS.B,
28.98%,
1/20/25
..
103
106
991592663.UG.FTS.B,
28.98%,
1/20/25
..
171
176
991593515.UG.FTS.B,
28.98%,
1/20/25
..
760
762
991593668.UG.FTS.B,
28.98%,
1/20/25
..
251
255
991593747.UG.FTS.B,
28.98%,
1/20/25
..
38
38
991594115.UG.FTS.B,
28.98%,
1/20/25
..
1,001
1,031
991594754.UG.FTS.B,
28.98%,
1/20/25
..
575
592
991594803.UG.FTS.B,
28.98%,
1/20/25
..
316
324
991598017.UG.FTS.B,
28.98%,
1/20/25
..
448
58
991598284.UG.FTS.B,
28.98%,
1/20/25
..
251
258
991598888.UG.FTS.B,
28.98%,
1/20/25
..
19
19
991599195.UG.FTS.B,
28.98%,
1/20/25
..
981
1,011
991600569.UG.FTS.B,
28.98%,
1/20/25
..
859
882
991601320.UG.FTS.B,
28.98%,
1/20/25
..
895
923
991602419.UG.FTS.B,
28.98%,
1/20/25
..
622
641
991602891.UG.FTS.B,
28.98%,
1/20/25
..
109
112
991603544.UG.FTS.B,
28.98%,
1/20/25
..
–
–
991603854.UG.FTS.B,
28.98%,
1/20/25
..
370
381
991604383.UG.FTS.B,
28.98%,
1/20/25
..
36
36
991604545.UG.FTS.B,
28.98%,
1/20/25
..
245
250
991604665.UG.FTS.B,
28.98%,
1/20/25
..
221
228
991605120.UG.FTS.B,
28.98%,
1/20/25
..
17
17
991606308.UG.FTS.B,
28.98%,
1/20/25
..
74
5
991606337.UG.FTS.B,
28.98%,
1/20/25
..
168
167
991607039.UG.FTS.B,
28.98%,
1/20/25
..
32
5
991607215.UG.FTS.B,
28.98%,
1/20/25
..
326
334
991608131.UG.FTS.B,
28.98%,
1/20/25
..
200
207
991608902.UG.FTS.B,
28.98%,
1/20/25
..
895
911
991609515.UG.FTS.B,
28.98%,
1/20/25
..
447
461
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
135
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991609600.UG.FTS.B,
28.98%,
1/20/25
..
$
1,333
$
1,333
991610945.UG.FTS.B,
28.98%,
1/20/25
..
28
29
991611805.UG.FTS.B,
28.98%,
1/20/25
..
1,348
1,386
991612372.UG.FTS.B,
28.98%,
1/20/25
..
24
24
991613998.UG.FTS.B,
28.98%,
1/20/25
..
538
554
991615084.UG.FTS.B,
28.98%,
1/20/25
..
543
538
991616232.UG.FTS.B,
28.98%,
1/20/25
..
164
167
991617276.UG.FTS.B,
28.98%,
1/20/25
..
5,850
6,024
991617883.UG.FTS.B,
28.98%,
1/20/25
..
1,340
1,381
991620442.UG.FTS.B,
28.98%,
1/20/25
..
24
24
991621078.UG.FTS.B,
28.98%,
1/20/25
..
295
298
991622012.UG.FTS.B,
28.98%,
1/20/25
..
48
48
991624075.UG.FTS.B,
28.98%,
1/20/25
..
248
256
991625260.UG.FTS.B,
28.98%,
1/20/25
..
133
137
991628122.UG.FTS.B,
28.98%,
1/20/25
..
109
112
991628873.UG.FTS.B,
28.98%,
1/20/25
..
287
296
991629144.UG.FTS.B,
28.98%,
1/20/25
..
627
644
991630278.UG.FTS.B,
28.98%,
1/20/25
..
249
256
991631399.UG.FTS.B,
28.98%,
1/20/25
..
1,496
1,520
991631946.UG.FTS.B,
28.98%,
1/20/25
..
193
197
991632637.UG.FTS.B,
28.98%,
1/20/25
..
59
60
991633593.UG.FTS.B,
28.98%,
1/20/25
..
71
73
991634045.UG.FTS.B,
28.98%,
1/20/25
..
160
164
991634258.UG.FTS.B,
28.98%,
1/20/25
..
712
734
991636177.UG.FTS.B,
28.98%,
1/20/25
..
67
68
991636767.UG.FTS.B,
28.98%,
1/20/25
..
22
22
991636848.UG.FTS.B,
28.98%,
1/20/25
..
249
248
991637075.UG.FTS.B,
28.98%,
1/20/25
..
26
26
991637880.UG.FTS.B,
28.98%,
1/20/25
..
65
66
991638060.UG.FTS.B,
28.98%,
1/20/25
..
100
99
991638685.UG.FTS.B,
28.98%,
1/20/25
..
150
155
991639978.UG.FTS.B,
28.98%,
1/20/25
..
189
193
991643294.UG.FTS.B,
28.98%,
1/20/25
..
180
183
991644226.UG.FTS.B,
28.98%,
1/20/25
..
52
52
991645700.UG.FTS.B,
28.98%,
1/20/25
..
1,239
1,251
991646775.UG.FTS.B,
28.98%,
1/20/25
..
98
101
991652664.UG.FTS.B,
28.98%,
1/20/25
..
165
165
991652792.UG.FTS.B,
28.98%,
1/20/25
..
80
81
991653273.UG.FTS.B,
28.98%,
1/20/25
..
158
163
991655177.UG.FTS.B,
28.98%,
1/20/25
..
735
757
991655284.UG.FTS.B,
28.98%,
1/20/25
..
83
85
991657177.UG.FTS.B,
28.98%,
1/20/25
..
2,755
2,838
991657299.UG.FTS.B,
28.98%,
1/20/25
..
3,562
3,670
991657792.UG.FTS.B,
28.98%,
1/20/25
..
223
15
991658226.UG.FTS.B,
28.98%,
1/20/25
..
891
907
991658495.UG.FTS.B,
28.98%,
1/20/25
..
193
25
991659478.UG.FTS.B,
28.98%,
1/20/25
..
1,658
118
991661646.UG.FTS.B,
28.98%,
1/20/25
..
387
399
991662576.UG.FTS.B,
28.98%,
1/20/25
..
430
437
991664351.UG.FTS.B,
28.98%,
1/20/25
..
270
274
991665002.UG.FTS.B,
28.98%,
1/20/25
..
1,115
1,149
991666441.UG.FTS.B,
28.98%,
1/20/25
..
445
458
991668194.UG.FTS.B,
28.98%,
1/20/25
..
536
552
991669494.UG.FTS.B,
28.98%,
1/20/25
..
363
369
991669957.UG.FTS.B,
28.98%,
1/20/25
..
51
52
991671299.UG.FTS.B,
28.98%,
1/20/25
..
28
28
991672473.UG.FTS.B,
28.98%,
1/20/25
..
296
302
991673011.UG.FTS.B,
28.98%,
1/20/25
..
139
10
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991674562.UG.FTS.B,
28.98%,
1/20/25
..
$
637
$
44
991677509.UG.FTS.B,
28.98%,
1/20/25
..
299
303
991678497.UG.FTS.B,
28.98%,
1/20/25
..
98
68
991681420.UG.FTS.B,
28.98%,
1/20/25
..
74
73
991681601.UG.FTS.B,
28.98%,
1/20/25
..
363
369
991683543.UG.FTS.B,
28.98%,
1/20/25
..
2,067
2,069
991683658.UG.FTS.B,
28.98%,
1/20/25
..
79
81
991683859.UG.FTS.B,
28.98%,
1/20/25
..
25
25
991684690.UG.FTS.B,
28.98%,
1/20/25
..
355
365
991685455.UG.FTS.B,
28.98%,
1/20/25
..
219
226
991685698.UG.FTS.B,
28.98%,
1/20/25
..
651
670
991686339.UG.FTS.B,
28.98%,
1/20/25
..
215
219
991687748.UG.FTS.B,
28.98%,
1/20/25
..
10
10
991688152.UG.FTS.B,
28.98%,
1/20/25
..
177
182
991688819.UG.FTS.B,
28.98%,
1/20/25
..
382
388
991691824.UG.FTS.B,
28.98%,
1/20/25
..
133
137
991695244.UG.FTS.B,
28.98%,
1/20/25
..
70
72
991699863.UG.FTS.B,
28.98%,
1/20/25
..
35
35
991700400.UG.FTS.B,
28.98%,
1/20/25
..
24
24
991703498.UG.FTS.B,
28.98%,
1/20/25
..
263
267
991704850.UG.FTS.B,
28.98%,
1/20/25
..
141
144
991704987.UG.FTS.B,
28.98%,
1/20/25
..
92
94
991708940.UG.FTS.B,
28.98%,
1/20/25
..
76
77
991709725.UG.FTS.B,
28.98%,
1/20/25
..
90
92
991711174.UG.FTS.B,
28.98%,
1/20/25
..
93
96
991714721.UG.FTS.B,
28.98%,
1/20/25
..
43
43
991715023.UG.FTS.B,
28.98%,
1/20/25
..
121
123
991719591.UG.FTS.B,
28.98%,
1/20/25
..
442
450
991720648.UG.FTS.B,
28.98%,
1/20/25
..
708
720
991720930.UG.FTS.B,
28.98%,
1/20/25
..
661
47
991721888.UG.FTS.B,
28.98%,
1/20/25
..
955
623
991727362.UG.FTS.B,
28.98%,
1/20/25
..
212
215
991731657.UG.FTS.B,
28.98%,
1/20/25
..
530
539
991731747.UG.FTS.B,
28.98%,
1/20/25
..
708
719
991734822.UG.FTS.B,
28.98%,
1/20/25
..
30
31
991736469.UG.FTS.B,
28.98%,
1/20/25
..
67
68
991737941.UG.FTS.B,
28.98%,
1/20/25
..
89
91
991738665.UG.FTS.B,
28.98%,
1/20/25
..
126
129
991740124.UG.FTS.B,
28.98%,
1/20/25
..
133
135
991740572.UG.FTS.B,
28.98%,
1/20/25
..
206
134
991741386.UG.FTS.B,
28.98%,
1/20/25
..
18
18
991743913.UG.FTS.B,
28.98%,
1/20/25
..
76
78
991744428.UG.FTS.B,
28.98%,
1/20/25
..
26
27
991744832.UG.FTS.B,
28.98%,
1/20/25
..
397
404
991745775.UG.FTS.B,
28.98%,
1/20/25
..
186
186
991746760.UG.FTS.B,
28.98%,
1/20/25
..
74
73
991750085.UG.FTS.B,
28.98%,
1/20/25
..
104
107
991752117.UG.FTS.B,
28.98%,
1/20/25
..
229
233
991760438.UG.FTS.B,
28.98%,
1/20/25
..
99
102
991764409.UG.FTS.B,
28.98%,
1/20/25
..
15
14
991766308.UG.FTS.B,
28.98%,
1/20/25
..
49
49
991772528.UG.FTS.B,
28.98%,
1/20/25
..
250
253
991772749.UG.FTS.B,
28.98%,
1/20/25
..
329
23
991773470.UG.FTS.B,
28.98%,
1/20/25
..
103
106
991773598.UG.FTS.B,
28.98%,
1/20/25
..
295
292
991773610.UG.FTS.B,
28.98%,
1/20/25
..
1,321
1,343
991773912.UG.FTS.B,
28.98%,
1/20/25
..
202
206
991774014.UG.FTS.B,
28.98%,
1/20/25
..
1,091
1,099
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
136
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991775137.UG.FTS.B,
28.98%,
1/20/25
..
$
3,769
$
3,796
991775579.UG.FTS.B,
28.98%,
1/20/25
..
176
179
991775768.UG.FTS.B,
28.98%,
1/20/25
..
122
124
991784171.UG.FTS.B,
28.98%,
1/20/25
..
434
442
991544384.UG.FTS.B,
29.45%,
1/20/25
..
45
45
991544892.UG.FTS.B,
29.45%,
1/20/25
..
860
886
991546469.UG.FTS.B,
29.45%,
1/20/25
..
321
331
991590390.UG.FTS.B,
29.45%,
1/20/25
..
141
145
991598067.UG.FTS.B,
29.45%,
1/20/25
..
67
67
991658510.UG.FTS.B,
29.45%,
1/20/25
..
175
174
991661056.UG.FTS.B,
29.45%,
1/20/25
..
–
–
991703938.UG.FTS.B,
29.45%,
1/20/25
..
45
44
991708297.UG.FTS.B,
29.45%,
1/20/25
..
50
51
991749201.UG.FTS.B,
29.45%,
1/20/25
..
883
891
991760144.UG.FTS.B,
29.45%,
1/20/25
..
54
54
991546140.UG.FTS.B,
29.46%,
1/20/25
..
454
461
991552999.UG.FTS.B,
29.46%,
1/20/25
..
104
106
991554451.UG.FTS.B,
29.46%,
1/20/25
..
721
742
991556638.UG.FTS.B,
29.46%,
1/20/25
..
34
34
991556833.UG.FTS.B,
29.46%,
1/20/25
..
397
403
991558641.UG.FTS.B,
29.46%,
1/20/25
..
1,492
1,530
991572725.UG.FTS.B,
29.46%,
1/20/25
..
117
119
991577119.UG.FTS.B,
29.46%,
1/20/25
..
147
20
991588559.UG.FTS.B,
29.46%,
1/20/25
..
82
84
991607542.UG.FTS.B,
29.46%,
1/20/25
..
945
972
991638849.UG.FTS.B,
29.46%,
1/20/25
..
303
311
991649368.UG.FTS.B,
29.46%,
1/20/25
..
89
92
991666110.UG.FTS.B,
29.46%,
1/20/25
..
120
121
991715745.UG.FTS.B,
29.46%,
1/20/25
..
175
23
991559050.UG.FTS.B,
29.47%,
1/20/25
..
876
117
991559721.UG.FTS.B,
29.47%,
1/20/25
..
37
37
991561124.UG.FTS.B,
29.47%,
1/20/25
..
1,142
1,140
991570910.UG.FTS.B,
29.47%,
1/20/25
..
142
143
991584353.UG.FTS.B,
29.47%,
1/20/25
..
347
357
991584440.UG.FTS.B,
29.47%,
1/20/25
..
344
355
991649992.UG.FTS.B,
29.47%,
1/20/25
..
136
135
991658968.UG.FTS.B,
29.47%,
1/20/25
..
187
191
991702923.UG.FTS.B,
29.47%,
1/20/25
..
307
316
991544542.UG.FTS.B,
29.48%,
1/20/25
..
853
878
991544991.UG.FTS.B,
29.48%,
1/20/25
..
327
330
991545016.UG.FTS.B,
29.48%,
1/20/25
..
686
707
991545229.UG.FTS.B,
29.48%,
1/20/25
..
202
199
991545300.UG.FTS.B,
29.48%,
1/20/25
..
62
62
991546098.UG.FTS.B,
29.48%,
1/20/25
..
831
116
991546168.UG.FTS.B,
29.48%,
1/20/25
..
262
269
991547692.UG.FTS.B,
29.48%,
1/20/25
..
105
108
991551664.UG.FTS.B,
29.48%,
1/20/25
..
98
97
991554905.UG.FTS.B,
29.48%,
1/20/25
..
29
29
991555928.UG.FTS.B,
29.48%,
1/20/25
..
240
168
991556918.UG.FTS.B,
29.48%,
1/20/25
..
44
44
991567953.UG.FTS.B,
29.48%,
1/20/25
..
142
146
991581207.UG.FTS.B,
29.48%,
1/20/25
..
99
102
991612799.UG.FTS.B,
29.48%,
1/20/25
..
244
17
991620084.UG.FTS.B,
29.48%,
1/20/25
..
326
324
991622988.UG.FTS.B,
29.48%,
1/20/25
..
130
134
991638084.UG.FTS.B,
29.48%,
1/20/25
..
34
33
991638325.UG.FTS.B,
29.48%,
1/20/25
..
2,793
2,828
991642455.UG.FTS.B,
29.48%,
1/20/25
..
110
15
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991643179.UG.FTS.B,
29.48%,
1/20/25
..
$
12
$
12
991647957.UG.FTS.B,
29.48%,
1/20/25
..
42
3
991674255.UG.FTS.B,
29.48%,
1/20/25
..
1,422
1,464
991674402.UG.FTS.B,
29.48%,
1/20/25
..
930
124
991723769.UG.FTS.B,
29.48%,
1/20/25
..
72
73
991758718.UG.FTS.B,
29.48%,
1/20/25
..
221
224
991768186.UG.FTS.B,
29.48%,
1/20/25
..
393
389
991544296.UG.FTS.B,
29.49%,
1/20/25
..
279
288
991544466.UG.FTS.B,
29.49%,
1/20/25
..
324
331
991544749.UG.FTS.B,
29.49%,
1/20/25
..
882
901
991544865.UG.FTS.B,
29.49%,
1/20/25
..
384
383
991544945.UG.FTS.B,
29.49%,
1/20/25
..
399
410
991545269.UG.FTS.B,
29.49%,
1/20/25
..
1,984
2,045
991545817.UG.FTS.B,
29.49%,
1/20/25
..
87
87
991545907.UG.FTS.B,
29.49%,
1/20/25
..
224
231
991546088.UG.FTS.B,
29.49%,
1/20/25
..
19
19
991546174.UG.FTS.B,
29.49%,
1/20/25
..
1,645
1,660
991546669.UG.FTS.B,
29.49%,
1/20/25
..
235
234
991547043.UG.FTS.B,
29.49%,
1/20/25
..
51
4
991547049.UG.FTS.B,
29.49%,
1/20/25
..
177
182
991547329.UG.FTS.B,
29.49%,
1/20/25
..
130
134
991547440.UG.FTS.B,
29.49%,
1/20/25
..
175
177
991547641.UG.FTS.B,
29.49%,
1/20/25
..
200
205
991547872.UG.FTS.B,
29.49%,
1/20/25
..
686
696
991547921.UG.FTS.B,
29.49%,
1/20/25
..
138
94
991547930.UG.FTS.B,
29.49%,
1/20/25
..
72
74
991548160.UG.FTS.B,
29.49%,
1/20/25
..
53
53
991548200.UG.FTS.B,
29.49%,
1/20/25
..
565
566
991549021.UG.FTS.B,
29.49%,
1/20/25
..
204
14
991549440.UG.FTS.B,
29.49%,
1/20/25
..
469
62
991549454.UG.FTS.B,
29.49%,
1/20/25
..
631
650
991549497.UG.FTS.B,
29.49%,
1/20/25
..
55
56
991549674.UG.FTS.B,
29.49%,
1/20/25
..
3,069
(85)
991550974.UG.FTS.B,
29.49%,
1/20/25
..
200
14
991551039.UG.FTS.B,
29.49%,
1/20/25
..
2,475
2,550
991551274.UG.FTS.B,
29.49%,
1/20/25
..
4
4
991551322.UG.FTS.B,
29.49%,
1/20/25
..
48
48
991551944.UG.FTS.B,
29.49%,
1/20/25
..
112
8
991552397.UG.FTS.B,
29.49%,
1/20/25
..
179
185
991552851.UG.FTS.B,
29.49%,
1/20/25
..
87
90
991552919.UG.FTS.B,
29.49%,
1/20/25
..
140
144
991553011.UG.FTS.B,
29.49%,
1/20/25
..
6
6
991553040.UG.FTS.B,
29.49%,
1/20/25
..
25
25
991553132.UG.FTS.B,
29.49%,
1/20/25
..
180
184
991553203.UG.FTS.B,
29.49%,
1/20/25
..
23
23
991553377.UG.FTS.B,
29.49%,
1/20/25
..
277
285
991553440.UG.FTS.B,
29.49%,
1/20/25
..
35
36
991553561.UG.FTS.B,
29.49%,
1/20/25
..
18
18
991553841.UG.FTS.B,
29.49%,
1/20/25
..
144
146
991553912.UG.FTS.B,
29.49%,
1/20/25
..
113
116
991554000.UG.FTS.B,
29.49%,
1/20/25
..
9
9
991554242.UG.FTS.B,
29.49%,
1/20/25
..
173
178
991554925.UG.FTS.B,
29.49%,
1/20/25
..
37
37
991555165.UG.FTS.B,
29.49%,
1/20/25
..
196
202
991555210.UG.FTS.B,
29.49%,
1/20/25
..
536
(20)
991555378.UG.FTS.B,
29.49%,
1/20/25
..
114
77
991555653.UG.FTS.B,
29.49%,
1/20/25
..
2,386
2,459
991555703.UG.FTS.B,
29.49%,
1/20/25
..
256
18
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
137
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991556119.UG.FTS.B,
29.49%,
1/20/25
..
$
101
$
104
991556192.UG.FTS.B,
29.49%,
1/20/25
..
27
27
991556485.UG.FTS.B,
29.49%,
1/20/25
..
153
11
991556819.UG.FTS.B,
29.49%,
1/20/25
..
241
247
991556896.UG.FTS.B,
29.49%,
1/20/25
..
681
684
991557327.UG.FTS.B,
29.49%,
1/20/25
..
901
928
991557621.UG.FTS.B,
29.49%,
1/20/25
..
957
974
991557786.UG.FTS.B,
29.49%,
1/20/25
..
1,511
1,556
991559618.UG.FTS.B,
29.49%,
1/20/25
..
61
62
991559863.UG.FTS.B,
29.49%,
1/20/25
..
315
324
991560412.UG.FTS.B,
29.49%,
1/20/25
..
980
1,000
991561412.UG.FTS.B,
29.49%,
1/20/25
..
1,134
1,164
991561533.UG.FTS.B,
29.49%,
1/20/25
..
167
12
991561593.UG.FTS.B,
29.49%,
1/20/25
..
86
6
991561854.UG.FTS.B,
29.49%,
1/20/25
..
61
62
991562352.UG.FTS.B,
29.49%,
1/20/25
..
78
79
991562399.UG.FTS.B,
29.49%,
1/20/25
..
117
117
991562464.UG.FTS.B,
29.49%,
1/20/25
..
692
48
991562787.UG.FTS.B,
29.49%,
1/20/25
..
2,222
2,277
991562985.UG.FTS.B,
29.49%,
1/20/25
..
307
317
991563089.UG.FTS.B,
29.49%,
1/20/25
..
6
6
991563323.UG.FTS.B,
29.49%,
1/20/25
..
39
40
991563493.UG.FTS.B,
29.49%,
1/20/25
..
190
196
991563554.UG.FTS.B,
29.49%,
1/20/25
..
90
91
991563558.UG.FTS.B,
29.49%,
1/20/25
..
52
52
991564043.UG.FTS.B,
29.49%,
1/20/25
..
106
105
991564059.UG.FTS.B,
29.49%,
1/20/25
..
739
756
991564184.UG.FTS.B,
29.49%,
1/20/25
..
–
–
991564267.UG.FTS.B,
29.49%,
1/20/25
..
443
454
991564542.UG.FTS.B,
29.49%,
1/20/25
..
5
5
991565182.UG.FTS.B,
29.49%,
1/20/25
..
2,009
2,002
991565422.UG.FTS.B,
29.49%,
1/20/25
..
119
122
991565868.UG.FTS.B,
29.49%,
1/20/25
..
520
535
991566926.UG.FTS.B,
29.49%,
1/20/25
..
1,349
1,391
991567540.UG.FTS.B,
29.49%,
1/20/25
..
174
179
991568109.UG.FTS.B,
29.49%,
1/20/25
..
62
61
991568535.UG.FTS.B,
29.49%,
1/20/25
..
633
649
991568889.UG.FTS.B,
29.49%,
1/20/25
..
25
24
991568891.UG.FTS.B,
29.49%,
1/20/25
..
48
48
991569010.UG.FTS.B,
29.49%,
1/20/25
..
55
56
991569026.UG.FTS.B,
29.49%,
1/20/25
..
63
65
991569591.UG.FTS.B,
29.49%,
1/20/25
..
35
35
991569715.UG.FTS.B,
29.49%,
1/20/25
..
5
5
991570132.UG.FTS.B,
29.49%,
1/20/25
..
191
189
991570147.UG.FTS.B,
29.49%,
1/20/25
..
29
29
991570228.UG.FTS.B,
29.49%,
1/20/25
..
159
164
991570854.UG.FTS.B,
29.49%,
1/20/25
..
215
219
991571176.UG.FTS.B,
29.49%,
1/20/25
..
139
142
991571596.UG.FTS.B,
29.49%,
1/20/25
..
20
20
991572440.UG.FTS.B,
29.49%,
1/20/25
..
161
161
991573246.UG.FTS.B,
29.49%,
1/20/25
..
6
6
991573331.UG.FTS.B,
29.49%,
1/20/25
..
116
116
991573625.UG.FTS.B,
29.49%,
1/20/25
..
461
473
991574790.UG.FTS.B,
29.49%,
1/20/25
..
899
927
991575006.UG.FTS.B,
29.49%,
1/20/25
..
112
115
991575245.UG.FTS.B,
29.49%,
1/20/25
..
401
273
991575963.UG.FTS.B,
29.49%,
1/20/25
..
158
161
991576324.UG.FTS.B,
29.49%,
1/20/25
..
2,759
2,840
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991576385.UG.FTS.B,
29.49%,
1/20/25
..
$
224
$
146
991576865.UG.FTS.B,
29.49%,
1/20/25
..
91
92
991577211.UG.FTS.B,
29.49%,
1/20/25
..
236
236
991577516.UG.FTS.B,
29.49%,
1/20/25
..
253
252
991577542.UG.FTS.B,
29.49%,
1/20/25
..
78
80
991577951.UG.FTS.B,
29.49%,
1/20/25
..
14
14
991578455.UG.FTS.B,
29.49%,
1/20/25
..
523
538
991578944.UG.FTS.B,
29.49%,
1/20/25
..
192
197
991579364.UG.FTS.B,
29.49%,
1/20/25
..
674
46
991579988.UG.FTS.B,
29.49%,
1/20/25
..
155
103
991581013.UG.FTS.B,
29.49%,
1/20/25
..
43
44
991581102.UG.FTS.B,
29.49%,
1/20/25
..
66
66
991581619.UG.FTS.B,
29.49%,
1/20/25
..
91
93
991581659.UG.FTS.B,
29.49%,
1/20/25
..
898
926
991582174.UG.FTS.B,
29.49%,
1/20/25
..
179
185
991582980.UG.FTS.B,
29.49%,
1/20/25
..
217
222
991583081.UG.FTS.B,
29.49%,
1/20/25
..
135
139
991583340.UG.FTS.B,
29.49%,
1/20/25
..
145
149
991583430.UG.FTS.B,
29.49%,
1/20/25
..
346
356
991583502.UG.FTS.B,
29.49%,
1/20/25
..
53
54
991584191.UG.FTS.B,
29.49%,
1/20/25
..
1,201
1,238
991584247.UG.FTS.B,
29.49%,
1/20/25
..
701
722
991584881.UG.FTS.B,
29.49%,
1/20/25
..
183
188
991585152.UG.FTS.B,
29.49%,
1/20/25
..
112
115
991585266.UG.FTS.B,
29.49%,
1/20/25
..
43
44
991585812.UG.FTS.B,
29.49%,
1/20/25
..
85
87
991586560.UG.FTS.B,
29.49%,
1/20/25
..
151
153
991586849.UG.FTS.B,
29.49%,
1/20/25
..
20
20
991586964.UG.FTS.B,
29.49%,
1/20/25
..
172
177
991587322.UG.FTS.B,
29.49%,
1/20/25
..
42
3
991587665.UG.FTS.B,
29.49%,
1/20/25
..
164
167
991587677.UG.FTS.B,
29.49%,
1/20/25
..
696
728
991588325.UG.FTS.B,
29.49%,
1/20/25
..
210
213
991588365.UG.FTS.B,
29.49%,
1/20/25
..
977
135
991588371.UG.FTS.B,
29.49%,
1/20/25
..
566
77
991590187.UG.FTS.B,
29.49%,
1/20/25
..
27
27
991590941.UG.FTS.B,
29.49%,
1/20/25
..
58
58
991591604.UG.FTS.B,
29.49%,
1/20/25
..
19
19
991591634.UG.FTS.B,
29.49%,
1/20/25
..
61
(2)
991591834.UG.FTS.B,
29.49%,
1/20/25
..
193
199
991592214.UG.FTS.B,
29.49%,
1/20/25
..
237
240
991592285.UG.FTS.B,
29.49%,
1/20/25
..
184
189
991592560.UG.FTS.B,
29.49%,
1/20/25
..
226
233
991592747.UG.FTS.B,
29.49%,
1/20/25
..
80
80
991593701.UG.FTS.B,
29.49%,
1/20/25
..
41
41
991593970.UG.FTS.B,
29.49%,
1/20/25
..
1,095
1,128
991594735.UG.FTS.B,
29.49%,
1/20/25
..
400
404
991595841.UG.FTS.B,
29.49%,
1/20/25
..
160
165
991596754.UG.FTS.B,
29.49%,
1/20/25
..
180
183
991596930.UG.FTS.B,
29.49%,
1/20/25
..
222
227
991597202.UG.FTS.B,
29.49%,
1/20/25
..
55
55
991597280.UG.FTS.B,
29.49%,
1/20/25
..
20
20
991598360.UG.FTS.B,
29.49%,
1/20/25
..
207
213
991598583.UG.FTS.B,
29.49%,
1/20/25
..
104
72
991598790.UG.FTS.B,
29.49%,
1/20/25
..
320
321
991600631.UG.FTS.B,
29.49%,
1/20/25
..
271
279
991601559.UG.FTS.B,
29.49%,
1/20/25
..
448
462
991601783.UG.FTS.B,
29.49%,
1/20/25
..
210
208
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
138
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991601943.UG.FTS.B,
29.49%,
1/20/25
..
$
45
$
45
991603035.UG.FTS.B,
29.49%,
1/20/25
..
316
324
991604392.UG.FTS.B,
29.49%,
1/20/25
..
–
–
991604441.UG.FTS.B,
29.49%,
1/20/25
..
43
3
991604598.UG.FTS.B,
29.49%,
1/20/25
..
45
46
991605838.UG.FTS.B,
29.49%,
1/20/25
..
32
31
991605866.UG.FTS.B,
29.49%,
1/20/25
..
398
410
991605989.UG.FTS.B,
29.49%,
1/20/25
..
16
16
991606116.UG.FTS.B,
29.49%,
1/20/25
..
185
190
991606376.UG.FTS.B,
29.49%,
1/20/25
..
32
32
991606518.UG.FTS.B,
29.49%,
1/20/25
..
–
–
991606975.UG.FTS.B,
29.49%,
1/20/25
..
135
137
991607008.UG.FTS.B,
29.49%,
1/20/25
..
244
250
991607405.UG.FTS.B,
29.49%,
1/20/25
..
234
234
991608556.UG.FTS.B,
29.49%,
1/20/25
..
69
70
991609620.UG.FTS.B,
29.49%,
1/20/25
..
458
470
991610063.UG.FTS.B,
29.49%,
1/20/25
..
537
554
991611813.UG.FTS.B,
29.49%,
1/20/25
..
26
27
991612642.UG.FTS.B,
29.49%,
1/20/25
..
71
72
991612971.UG.FTS.B,
29.49%,
1/20/25
..
148
152
991613184.UG.FTS.B,
29.49%,
1/20/25
..
15
15
991614076.UG.FTS.B,
29.49%,
1/20/25
..
1,159
1,194
991614750.UG.FTS.B,
29.49%,
1/20/25
..
280
283
991615755.UG.FTS.B,
29.49%,
1/20/25
..
178
184
991616553.UG.FTS.B,
29.49%,
1/20/25
..
126
130
991617017.UG.FTS.B,
29.49%,
1/20/25
..
37
37
991617103.UG.FTS.B,
29.49%,
1/20/25
..
329
(12)
991617166.UG.FTS.B,
29.49%,
1/20/25
..
895
908
991617238.UG.FTS.B,
29.49%,
1/20/25
..
430
442
991617328.UG.FTS.B,
29.49%,
1/20/25
..
2,237
2,305
991617793.UG.FTS.B,
29.49%,
1/20/25
..
215
221
991618653.UG.FTS.B,
29.49%,
1/20/25
..
4,027
4,149
991619887.UG.FTS.B,
29.49%,
1/20/25
..
180
186
991620217.UG.FTS.B,
29.49%,
1/20/25
..
99
102
991620724.UG.FTS.B,
29.49%,
1/20/25
..
675
676
991620842.UG.FTS.B,
29.49%,
1/20/25
..
503
338
991621016.UG.FTS.B,
29.49%,
1/20/25
..
72
(1)
991621352.UG.FTS.B,
29.49%,
1/20/25
..
395
407
991621428.UG.FTS.B,
29.49%,
1/20/25
..
30
30
991621515.UG.FTS.B,
29.49%,
1/20/25
..
14
14
991624706.UG.FTS.B,
29.49%,
1/20/25
..
325
335
991624810.UG.FTS.B,
29.49%,
1/20/25
..
326
334
991625388.UG.FTS.B,
29.49%,
1/20/25
..
–
–
991625976.UG.FTS.B,
29.49%,
1/20/25
..
179
184
991626310.UG.FTS.B,
29.49%,
1/20/25
..
256
260
991628720.UG.FTS.B,
29.49%,
1/20/25
..
84
86
991629054.UG.FTS.B,
29.49%,
1/20/25
..
145
149
991629363.UG.FTS.B,
29.49%,
1/20/25
..
77
5
991629958.UG.FTS.B,
29.49%,
1/20/25
..
30
30
991631113.UG.FTS.B,
29.49%,
1/20/25
..
155
159
991631672.UG.FTS.B,
29.49%,
1/20/25
..
48
48
991632109.UG.FTS.B,
29.49%,
1/20/25
..
155
105
991632522.UG.FTS.B,
29.49%,
1/20/25
..
65
66
991633281.UG.FTS.B,
29.49%,
1/20/25
..
171
175
991638517.UG.FTS.B,
29.49%,
1/20/25
..
188
14
991639454.UG.FTS.B,
29.49%,
1/20/25
..
59
59
991644250.UG.FTS.B,
29.49%,
1/20/25
..
82
84
991646997.UG.FTS.B,
29.49%,
1/20/25
..
24
24
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991647202.UG.FTS.B,
29.49%,
1/20/25
..
$
17
$
17
991648065.UG.FTS.B,
29.49%,
1/20/25
..
211
218
991654187.UG.FTS.B,
29.49%,
1/20/25
..
207
209
991654599.UG.FTS.B,
29.49%,
1/20/25
..
68
10
991654619.UG.FTS.B,
29.49%,
1/20/25
..
891
918
991654755.UG.FTS.B,
29.49%,
1/20/25
..
270
270
991655092.UG.FTS.B,
29.49%,
1/20/25
..
810
827
991655178.UG.FTS.B,
29.49%,
1/20/25
..
238
17
991655877.UG.FTS.B,
29.49%,
1/20/25
..
116
119
991656048.UG.FTS.B,
29.49%,
1/20/25
..
294
303
991656357.UG.FTS.B,
29.49%,
1/20/25
..
558
376
991656434.UG.FTS.B,
29.49%,
1/20/25
..
493
502
991657357.UG.FTS.B,
29.49%,
1/20/25
..
1,694
1,744
991658873.UG.FTS.B,
29.49%,
1/20/25
..
32
32
991659587.UG.FTS.B,
29.49%,
1/20/25
..
205
207
991660055.UG.FTS.B,
29.49%,
1/20/25
..
37
37
991660718.UG.FTS.B,
29.49%,
1/20/25
..
363
374
991662133.UG.FTS.B,
29.49%,
1/20/25
..
43
43
991663116.UG.FTS.B,
29.49%,
1/20/25
..
68
10
991663176.UG.FTS.B,
29.49%,
1/20/25
..
124
126
991663567.UG.FTS.B,
29.49%,
1/20/25
..
223
220
991665207.UG.FTS.B,
29.49%,
1/20/25
..
116
8
991666604.UG.FTS.B,
29.49%,
1/20/25
..
891
917
991668579.UG.FTS.B,
29.49%,
1/20/25
..
167
169
991668949.UG.FTS.B,
29.49%,
1/20/25
..
83
85
991670007.UG.FTS.B,
29.49%,
1/20/25
..
213
(4)
991670103.UG.FTS.B,
29.49%,
1/20/25
..
899
925
991672222.UG.FTS.B,
29.49%,
1/20/25
..
444
457
991672277.UG.FTS.B,
29.49%,
1/20/25
..
67
68
991673903.UG.FTS.B,
29.49%,
1/20/25
..
1,233
89
991674593.UG.FTS.B,
29.49%,
1/20/25
..
704
50
991676079.UG.FTS.B,
29.49%,
1/20/25
..
363
374
991678111.UG.FTS.B,
29.49%,
1/20/25
..
478
477
991679088.UG.FTS.B,
29.49%,
1/20/25
..
606
615
991681019.UG.FTS.B,
29.49%,
1/20/25
..
1,332
1,371
991681230.UG.FTS.B,
29.49%,
1/20/25
..
14
14
991682846.UG.FTS.B,
29.49%,
1/20/25
..
177
182
991686039.UG.FTS.B,
29.49%,
1/20/25
..
344
350
991689785.UG.FTS.B,
29.49%,
1/20/25
..
200
200
991690090.UG.FTS.B,
29.49%,
1/20/25
..
245
249
991691908.UG.FTS.B,
29.49%,
1/20/25
..
711
732
991692117.UG.FTS.B,
29.49%,
1/20/25
..
117
79
991692295.UG.FTS.B,
29.49%,
1/20/25
..
184
182
991692468.UG.FTS.B,
29.49%,
1/20/25
..
193
196
991692717.UG.FTS.B,
29.49%,
1/20/25
..
112
116
991693352.UG.FTS.B,
29.49%,
1/20/25
..
82
84
991693696.UG.FTS.B,
29.49%,
1/20/25
..
317
327
991696161.UG.FTS.B,
29.49%,
1/20/25
..
271
279
991698984.UG.FTS.B,
29.49%,
1/20/25
..
39
40
991702622.UG.FTS.B,
29.49%,
1/20/25
..
122
126
991703149.UG.FTS.B,
29.49%,
1/20/25
..
270
(11)
991703172.UG.FTS.B,
29.49%,
1/20/25
..
14
14
991703844.UG.FTS.B,
29.49%,
1/20/25
..
14
14
991704174.UG.FTS.B,
29.49%,
1/20/25
..
108
110
991704331.UG.FTS.B,
29.49%,
1/20/25
..
109
113
991704554.UG.FTS.B,
29.49%,
1/20/25
..
123
125
991705000.UG.FTS.B,
29.49%,
1/20/25
..
48
48
991706369.UG.FTS.B,
29.49%,
1/20/25
..
117
121
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
139
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991706493.UG.FTS.B,
29.49%,
1/20/25
..
$
65
$
64
991706803.UG.FTS.B,
29.49%,
1/20/25
..
99
98
991708117.UG.FTS.B,
29.49%,
1/20/25
..
1,590
1,616
991709703.UG.FTS.B,
29.49%,
1/20/25
..
139
140
991710790.UG.FTS.B,
29.49%,
1/20/25
..
345
346
991712356.UG.FTS.B,
29.49%,
1/20/25
..
724
504
991714458.UG.FTS.B,
29.49%,
1/20/25
..
315
319
991715213.UG.FTS.B,
29.49%,
1/20/25
..
99
102
991715284.UG.FTS.B,
29.49%,
1/20/25
..
22
22
991716502.UG.FTS.B,
29.49%,
1/20/25
..
1,048
1,064
991716698.UG.FTS.B,
29.49%,
1/20/25
..
248
250
991717405.UG.FTS.B,
29.49%,
1/20/25
..
402
408
991717440.UG.FTS.B,
29.49%,
1/20/25
..
39
34
991718671.UG.FTS.B,
29.49%,
1/20/25
..
266
268
991718693.UG.FTS.B,
29.49%,
1/20/25
..
177
180
991718755.UG.FTS.B,
29.49%,
1/20/25
..
133
134
991720466.UG.FTS.B,
29.49%,
1/20/25
..
218
221
991724082.UG.FTS.B,
29.49%,
1/20/25
..
152
153
991724668.UG.FTS.B,
29.49%,
1/20/25
..
106
107
991724684.UG.FTS.B,
29.49%,
1/20/25
..
98
100
991726588.UG.FTS.B,
29.49%,
1/20/25
..
43
44
991726589.UG.FTS.B,
29.49%,
1/20/25
..
118
118
991729024.UG.FTS.B,
29.49%,
1/20/25
..
189
191
991729282.UG.FTS.B,
29.49%,
1/20/25
..
405
411
991729967.UG.FTS.B,
29.49%,
1/20/25
..
401
407
991730560.UG.FTS.B,
29.49%,
1/20/25
..
1,032
1,021
991731119.UG.FTS.B,
29.49%,
1/20/25
..
2,337
2,368
991731378.UG.FTS.B,
29.49%,
1/20/25
..
106
107
991731411.UG.FTS.B,
29.49%,
1/20/25
..
682
686
991731675.UG.FTS.B,
29.49%,
1/20/25
..
101
104
991733097.UG.FTS.B,
29.49%,
1/20/25
..
107
109
991733527.UG.FTS.B,
29.49%,
1/20/25
..
128
90
991734979.UG.FTS.B,
29.49%,
1/20/25
..
201
203
991735905.UG.FTS.B,
29.49%,
1/20/25
..
124
125
991736419.UG.FTS.B,
29.49%,
1/20/25
..
110
112
991737012.UG.FTS.B,
29.49%,
1/20/25
..
211
214
991739576.UG.FTS.B,
29.49%,
1/20/25
..
925
631
991740285.UG.FTS.B,
29.49%,
1/20/25
..
510
513
991740302.UG.FTS.B,
29.49%,
1/20/25
..
193
195
991740404.UG.FTS.B,
29.49%,
1/20/25
..
100
7
991740432.UG.FTS.B,
29.49%,
1/20/25
..
313
318
991740760.UG.FTS.B,
29.49%,
1/20/25
..
113
8
991740817.UG.FTS.B,
29.49%,
1/20/25
..
60
4
991742409.UG.FTS.B,
29.49%,
1/20/25
..
59
60
991742496.UG.FTS.B,
29.49%,
1/20/25
..
96
99
991743758.UG.FTS.B,
29.49%,
1/20/25
..
–
–
991744452.UG.FTS.B,
29.49%,
1/20/25
..
202
14
991744616.UG.FTS.B,
29.49%,
1/20/25
..
79
80
991745338.UG.FTS.B,
29.49%,
1/20/25
..
132
134
991746498.UG.FTS.B,
29.49%,
1/20/25
..
106
75
991749257.UG.FTS.B,
29.49%,
1/20/25
..
133
135
991749486.UG.FTS.B,
29.49%,
1/20/25
..
243
32
991749746.UG.FTS.B,
29.49%,
1/20/25
..
884
891
991753458.UG.FTS.B,
29.49%,
1/20/25
..
211
213
991754900.UG.FTS.B,
29.49%,
1/20/25
..
21
3
991754938.UG.FTS.B,
29.49%,
1/20/25
..
148
151
991757492.UG.FTS.B,
29.49%,
1/20/25
..
4
4
991757760.UG.FTS.B,
29.49%,
1/20/25
..
532
539
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991758540.UG.FTS.B,
29.49%,
1/20/25
..
$
146
$
148
991758753.UG.FTS.B,
29.49%,
1/20/25
..
107
72
991760132.UG.FTS.B,
29.49%,
1/20/25
..
65
67
991760331.UG.FTS.B,
29.49%,
1/20/25
..
7
7
991762243.UG.FTS.B,
29.49%,
1/20/25
..
163
164
991766510.UG.FTS.B,
29.49%,
1/20/25
..
115
115
991766938.UG.FTS.B,
29.49%,
1/20/25
..
238
242
991769449.UG.FTS.B,
29.49%,
1/20/25
..
229
227
991769491.UG.FTS.B,
29.49%,
1/20/25
..
181
178
991770982.UG.FTS.B,
29.49%,
1/20/25
..
14
14
991771072.UG.FTS.B,
29.49%,
1/20/25
..
288
38
991771215.UG.FTS.B,
29.49%,
1/20/25
..
188
191
991771844.UG.FTS.B,
29.49%,
1/20/25
..
123
124
991772041.UG.FTS.B,
29.49%,
1/20/25
..
368
48
991772146.UG.FTS.B,
29.49%,
1/20/25
..
108
109
991772216.UG.FTS.B,
29.49%,
1/20/25
..
176
179
991772619.UG.FTS.B,
29.49%,
1/20/25
..
2,203
2,221
991772908.UG.FTS.B,
29.49%,
1/20/25
..
705
716
991774147.UG.FTS.B,
29.49%,
1/20/25
..
1,075
75
991775501.UG.FTS.B,
29.49%,
1/20/25
..
364
365
991779911.UG.FTS.B,
29.49%,
1/20/25
..
42
42
991781628.UG.FTS.B,
29.49%,
1/20/25
..
216
16
991782254.UG.FTS.B,
29.49%,
1/20/25
..
1,321
1,342
991783396.UG.FTS.B,
29.49%,
1/20/25
..
440
447
991783888.UG.FTS.B,
29.49%,
1/20/25
..
83
85
991700678.UG.FTS.B,
Zero
Cpn,
1/21/25
.
147
–
991679126.UG.FTS.B,
14.98%,
1/21/25
..
276
281
991713284.UG.FTS.B,
15.97%,
1/21/25
..
139
142
991771238.UG.FTS.B,
16.99%,
1/21/25
..
735
747
991655053.UG.FTS.B,
17.99%,
1/21/25
..
7,391
7,552
991793260.UG.FTS.B,
17.99%,
1/21/25
..
8,641
8,782
991697530.UG.FTS.B,
18.97%,
1/21/25
..
24
24
991749616.UG.FTS.B,
18.97%,
1/21/25
..
2,166
2,198
991764938.UG.FTS.B,
18.97%,
1/21/25
..
235
238
991691763.UG.FTS.B,
19.8%,
1/21/25
...
1,086
1,095
991749978.UG.FTS.B,
19.8%,
1/21/25
...
303
307
991780817.UG.FTS.B,
19.8%,
1/21/25
...
313
316
991699882.UG.FTS.B,
19.99%,
1/21/25
..
141
143
991716662.UG.FTS.B,
19.99%,
1/21/25
..
360
367
991722265.UG.FTS.B,
19.99%,
1/21/25
..
1,525
1,540
991757333.UG.FTS.B,
19.99%,
1/21/25
..
17
17
991757989.UG.FTS.B,
19.99%,
1/21/25
..
218
222
991761939.UG.FTS.B,
19.99%,
1/21/25
..
37
38
991700316.UG.FTS.B,
20.46%,
1/21/25
..
112
113
991762170.UG.FTS.B,
20.46%,
1/21/25
..
1,008
1,014
991653165.UG.FTS.B,
20.97%,
1/21/25
..
3,983
4,026
991676203.UG.FTS.B,
21.46%,
1/21/25
..
235
237
991697508.UG.FTS.B,
21.46%,
1/21/25
..
97
98
991700341.UG.FTS.B,
21.46%,
1/21/25
..
274
277
991756734.UG.FTS.B,
21.46%,
1/21/25
..
81
82
991757729.UG.FTS.B,
21.46%,
1/21/25
..
34
34
991739544.UG.FTS.B,
21.97%,
1/21/25
..
437
439
991658893.UG.FTS.B,
21.98%,
1/21/25
..
603
608
991660381.UG.FTS.B,
21.98%,
1/21/25
..
277
34
991707819.UG.FTS.B,
21.98%,
1/21/25
..
20
20
991715801.UG.FTS.B,
21.98%,
1/21/25
..
88
89
991720329.UG.FTS.B,
21.98%,
1/21/25
..
43
43
991737499.UG.FTS.B,
21.98%,
1/21/25
..
359
362
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
140
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991673663.UG.FTS.B,
22.97%,
1/21/25
..
$
877
$
889
991673933.UG.FTS.B,
23.95%,
1/21/25
..
123
9
991689993.UG.FTS.B,
25.95%,
1/21/25
..
20
3
991776759.UG.FTS.B,
26.94%,
1/21/25
..
30
31
991703323.UG.FTS.B,
27.99%,
1/21/25
..
1,322
1,345
991728532.UG.FTS.B,
27.99%,
1/21/25
..
699
701
991729071.UG.FTS.B,
27.99%,
1/21/25
..
14
14
991741785.UG.FTS.B,
27.99%,
1/21/25
..
215
218
991758747.UG.FTS.B,
27.99%,
1/21/25
..
89
89
991771747.UG.FTS.B,
27.99%,
1/21/25
..
341
342
991629524.UG.FTS.B,
28.98%,
1/21/25
..
298
20
991642567.UG.FTS.B,
28.98%,
1/21/25
..
415
422
991662823.UG.FTS.B,
28.98%,
1/21/25
..
304
309
991664049.UG.FTS.B,
28.98%,
1/21/25
..
112
111
991665576.UG.FTS.B,
28.98%,
1/21/25
..
623
643
991665938.UG.FTS.B,
28.98%,
1/21/25
..
262
266
991665964.UG.FTS.B,
28.98%,
1/21/25
..
118
122
991669520.UG.FTS.B,
28.98%,
1/21/25
..
44
44
991670622.UG.FTS.B,
28.98%,
1/21/25
..
545
558
991671300.UG.FTS.B,
28.98%,
1/21/25
..
350
357
991672054.UG.FTS.B,
28.98%,
1/21/25
..
–
–
991672619.UG.FTS.B,
28.98%,
1/21/25
..
25
25
991675079.UG.FTS.B,
28.98%,
1/21/25
..
798
812
991678858.UG.FTS.B,
28.98%,
1/21/25
..
173
178
991680869.UG.FTS.B,
28.98%,
1/21/25
..
24
24
991680977.UG.FTS.B,
28.98%,
1/21/25
..
1,075
1,085
991681162.UG.FTS.B,
28.98%,
1/21/25
..
15
15
991681791.UG.FTS.B,
28.98%,
1/21/25
..
888
916
991682680.UG.FTS.B,
28.98%,
1/21/25
..
311
321
991683019.UG.FTS.B,
28.98%,
1/21/25
..
356
367
991684086.UG.FTS.B,
28.98%,
1/21/25
..
40
41
991686463.UG.FTS.B,
28.98%,
1/21/25
..
569
586
991687816.UG.FTS.B,
28.98%,
1/21/25
..
533
550
991687989.UG.FTS.B,
28.98%,
1/21/25
..
66
65
991694207.UG.FTS.B,
28.98%,
1/21/25
..
195
198
991694819.UG.FTS.B,
28.98%,
1/21/25
..
816
830
991695760.UG.FTS.B,
28.98%,
1/21/25
..
15
15
991698062.UG.FTS.B,
28.98%,
1/21/25
..
177
182
991698321.UG.FTS.B,
28.98%,
1/21/25
..
36
36
991700702.UG.FTS.B,
28.98%,
1/21/25
..
1,591
207
991700940.UG.FTS.B,
28.98%,
1/21/25
..
322
332
991701470.UG.FTS.B,
28.98%,
1/21/25
..
407
415
991704902.UG.FTS.B,
28.98%,
1/21/25
..
57
57
991705041.UG.FTS.B,
28.98%,
1/21/25
..
177
180
991705300.UG.FTS.B,
28.98%,
1/21/25
..
504
505
991705981.UG.FTS.B,
28.98%,
1/21/25
..
42
42
991706808.UG.FTS.B,
28.98%,
1/21/25
..
667
675
991708246.UG.FTS.B,
28.98%,
1/21/25
..
431
444
991713492.UG.FTS.B,
28.98%,
1/21/25
..
5
5
991715240.UG.FTS.B,
28.98%,
1/21/25
..
159
162
991716289.UG.FTS.B,
28.98%,
1/21/25
..
1,077
1,096
991719757.UG.FTS.B,
28.98%,
1/21/25
..
133
136
991720924.UG.FTS.B,
28.98%,
1/21/25
..
140
140
991721447.UG.FTS.B,
28.98%,
1/21/25
..
288
288
991725073.UG.FTS.B,
28.98%,
1/21/25
..
121
124
991728243.UG.FTS.B,
28.98%,
1/21/25
..
23
23
991728724.UG.FTS.B,
28.98%,
1/21/25
..
–
–
991731033.UG.FTS.B,
28.98%,
1/21/25
..
393
27
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991731239.UG.FTS.B,
28.98%,
1/21/25
..
$
95
$
90
991733515.UG.FTS.B,
28.98%,
1/21/25
..
126
128
991734989.UG.FTS.B,
28.98%,
1/21/25
..
18
18
991736947.UG.FTS.B,
28.98%,
1/21/25
..
38
38
991737585.UG.FTS.B,
28.98%,
1/21/25
..
378
380
991740411.UG.FTS.B,
28.98%,
1/21/25
..
119
121
991740862.UG.FTS.B,
28.98%,
1/21/25
..
221
225
991741623.UG.FTS.B,
28.98%,
1/21/25
..
495
497
991742798.UG.FTS.B,
28.98%,
1/21/25
..
77
11
991744527.UG.FTS.B,
28.98%,
1/21/25
..
34
34
991749837.UG.FTS.B,
28.98%,
1/21/25
..
3,535
3,597
991756054.UG.FTS.B,
28.98%,
1/21/25
..
1,066
1,069
991761552.UG.FTS.B,
28.98%,
1/21/25
..
108
110
991761801.UG.FTS.B,
28.98%,
1/21/25
..
189
191
991767899.UG.FTS.B,
28.98%,
1/21/25
..
236
236
991770039.UG.FTS.B,
28.98%,
1/21/25
..
387
394
991784133.UG.FTS.B,
28.98%,
1/21/25
..
529
538
991788631.UG.FTS.B,
28.98%,
1/21/25
..
139
141
991638900.UG.FTS.B,
29.47%,
1/21/25
..
70
71
991633592.UG.FTS.B,
29.49%,
1/21/25
..
4
4
991633606.UG.FTS.B,
29.49%,
1/21/25
..
279
285
991638245.UG.FTS.B,
29.49%,
1/21/25
..
261
18
991642900.UG.FTS.B,
29.49%,
1/21/25
..
359
368
991644999.UG.FTS.B,
29.49%,
1/21/25
..
116
8
991663276.UG.FTS.B,
29.49%,
1/21/25
..
42
37
991663912.UG.FTS.B,
29.49%,
1/21/25
..
143
142
991664093.UG.FTS.B,
29.49%,
1/21/25
..
769
790
991664305.UG.FTS.B,
29.49%,
1/21/25
..
256
263
991664625.UG.FTS.B,
29.49%,
1/21/25
..
17
17
991665032.UG.FTS.B,
29.49%,
1/21/25
..
178
184
991665122.UG.FTS.B,
29.49%,
1/21/25
..
981
1,012
991666036.UG.FTS.B,
29.49%,
1/21/25
..
664
681
991666720.UG.FTS.B,
29.49%,
1/21/25
..
131
135
991668339.UG.FTS.B,
29.49%,
1/21/25
..
315
(12)
991669205.UG.FTS.B,
29.49%,
1/21/25
..
180
186
991670006.UG.FTS.B,
29.49%,
1/21/25
..
91
94
991670187.UG.FTS.B,
29.49%,
1/21/25
..
192
198
991671549.UG.FTS.B,
29.49%,
1/21/25
..
36
3
991671756.UG.FTS.B,
29.49%,
1/21/25
..
11
11
991672196.UG.FTS.B,
29.49%,
1/21/25
..
102
105
991674812.UG.FTS.B,
29.49%,
1/21/25
..
450
31
991674869.UG.FTS.B,
29.49%,
1/21/25
..
59
59
991675229.UG.FTS.B,
29.49%,
1/21/25
..
87
88
991678184.UG.FTS.B,
29.49%,
1/21/25
..
77
79
991678591.UG.FTS.B,
29.49%,
1/21/25
..
192
194
991679078.UG.FTS.B,
29.49%,
1/21/25
..
36
(1)
991681470.UG.FTS.B,
29.49%,
1/21/25
..
65
67
991681529.UG.FTS.B,
29.49%,
1/21/25
..
60
61
991683560.UG.FTS.B,
29.49%,
1/21/25
..
128
132
991684294.UG.FTS.B,
29.49%,
1/21/25
..
281
284
991685142.UG.FTS.B,
29.49%,
1/21/25
..
55
55
991687042.UG.FTS.B,
29.49%,
1/21/25
..
339
335
991687977.UG.FTS.B,
29.49%,
1/21/25
..
98
7
991688094.UG.FTS.B,
29.49%,
1/21/25
..
1,155
1,185
991688964.UG.FTS.B,
29.49%,
1/21/25
..
52
(2)
991689406.UG.FTS.B,
29.49%,
1/21/25
..
32
32
991689751.UG.FTS.B,
29.49%,
1/21/25
..
285
294
991690159.UG.FTS.B,
29.49%,
1/21/25
..
2,668
2,750
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
141
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991690545.UG.FTS.B,
29.49%,
1/21/25
..
$
60
$
59
991690832.UG.FTS.B,
29.49%,
1/21/25
..
133
137
991691552.UG.FTS.B,
29.49%,
1/21/25
..
159
163
991691912.UG.FTS.B,
29.49%,
1/21/25
..
230
235
991693012.UG.FTS.B,
29.49%,
1/21/25
..
246
253
991694190.UG.FTS.B,
29.49%,
1/21/25
..
248
255
991695343.UG.FTS.B,
29.49%,
1/21/25
..
30
30
991695921.UG.FTS.B,
29.49%,
1/21/25
..
889
916
991699221.UG.FTS.B,
29.49%,
1/21/25
..
–
–
991699877.UG.FTS.B,
29.49%,
1/21/25
..
247
251
991700813.UG.FTS.B,
29.49%,
1/21/25
..
374
381
991700885.UG.FTS.B,
29.49%,
1/21/25
..
9
9
991701385.UG.FTS.B,
29.49%,
1/21/25
..
19
19
991704244.UG.FTS.B,
29.49%,
1/21/25
..
517
36
991706026.UG.FTS.B,
29.49%,
1/21/25
..
137
140
991709042.UG.FTS.B,
29.49%,
1/21/25
..
329
333
991710343.UG.FTS.B,
29.49%,
1/21/25
..
550
558
991711411.UG.FTS.B,
29.49%,
1/21/25
..
67
69
991712502.UG.FTS.B,
29.49%,
1/21/25
..
139
10
991712669.UG.FTS.B,
29.49%,
1/21/25
..
139
137
991713287.UG.FTS.B,
29.49%,
1/21/25
..
377
378
991714196.UG.FTS.B,
29.49%,
1/21/25
..
82
82
991715882.UG.FTS.B,
29.49%,
1/21/25
..
1,452
1,475
991716170.UG.FTS.B,
29.49%,
1/21/25
..
79
81
991717859.UG.FTS.B,
29.49%,
1/21/25
..
443
450
991717914.UG.FTS.B,
29.49%,
1/21/25
..
479
487
991718350.UG.FTS.B,
29.49%,
1/21/25
..
266
270
991719451.UG.FTS.B,
29.49%,
1/21/25
..
355
365
991720068.UG.FTS.B,
29.49%,
1/21/25
..
2,138
2,168
991721365.UG.FTS.B,
29.49%,
1/21/25
..
132
136
991721576.UG.FTS.B,
29.49%,
1/21/25
..
84
86
991721973.UG.FTS.B,
29.49%,
1/21/25
..
124
126
991722825.UG.FTS.B,
29.49%,
1/21/25
..
621
631
991723176.UG.FTS.B,
29.49%,
1/21/25
..
266
270
991728056.UG.FTS.B,
29.49%,
1/21/25
..
205
134
991728328.UG.FTS.B,
29.49%,
1/21/25
..
164
165
991731609.UG.FTS.B,
29.49%,
1/21/25
..
106
108
991731739.UG.FTS.B,
29.49%,
1/21/25
..
194
197
991732982.UG.FTS.B,
29.49%,
1/21/25
..
58
60
991736128.UG.FTS.B,
29.49%,
1/21/25
..
84
83
991738527.UG.FTS.B,
29.49%,
1/21/25
..
67
53
991738714.UG.FTS.B,
29.49%,
1/21/25
..
356
362
991739901.UG.FTS.B,
29.49%,
1/21/25
..
152
(6)
991740248.UG.FTS.B,
29.49%,
1/21/25
..
310
314
991740528.UG.FTS.B,
29.49%,
1/21/25
..
2,655
2,698
991740944.UG.FTS.B,
29.49%,
1/21/25
..
239
241
991741010.UG.FTS.B,
29.49%,
1/21/25
..
156
158
991742356.UG.FTS.B,
29.49%,
1/21/25
..
33
33
991743923.UG.FTS.B,
29.49%,
1/21/25
..
599
603
991743959.UG.FTS.B,
29.49%,
1/21/25
..
364
369
991746026.UG.FTS.B,
29.49%,
1/21/25
..
217
219
991749631.UG.FTS.B,
29.49%,
1/21/25
..
183
181
991750066.UG.FTS.B,
29.49%,
1/21/25
..
354
359
991750973.UG.FTS.B,
29.49%,
1/21/25
..
34
35
991751329.UG.FTS.B,
29.49%,
1/21/25
..
22
22
991751558.UG.FTS.B,
29.49%,
1/21/25
..
3,282
3,332
991753629.UG.FTS.B,
29.49%,
1/21/25
..
11
11
991755245.UG.FTS.B,
29.49%,
1/21/25
..
33
34
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991755790.UG.FTS.B,
29.49%,
1/21/25
..
$
91
$
90
991757964.UG.FTS.B,
29.49%,
1/21/25
..
258
262
991758072.UG.FTS.B,
29.49%,
1/21/25
..
23
23
991758421.UG.FTS.B,
29.49%,
1/21/25
..
163
166
991759963.UG.FTS.B,
29.49%,
1/21/25
..
37
37
991759964.UG.FTS.B,
29.49%,
1/21/25
..
81
61
991761177.UG.FTS.B,
29.49%,
1/21/25
..
112
114
991761241.UG.FTS.B,
29.49%,
1/21/25
..
71
72
991763850.UG.FTS.B,
29.49%,
1/21/25
..
40
41
991765747.UG.FTS.B,
29.49%,
1/21/25
..
59
60
991771018.UG.FTS.B,
29.49%,
1/21/25
..
53
(2)
991771877.UG.FTS.B,
29.49%,
1/21/25
..
1,147
1,166
991773308.UG.FTS.B,
29.49%,
1/21/25
..
110
110
991773655.UG.FTS.B,
29.49%,
1/21/25
..
265
269
991774166.UG.FTS.B,
29.49%,
1/21/25
..
82
84
991774371.UG.FTS.B,
29.49%,
1/21/25
..
180
12
991774631.UG.FTS.B,
29.49%,
1/21/25
..
331
334
991774945.UG.FTS.B,
29.49%,
1/21/25
..
440
292
991776264.UG.FTS.B,
29.49%,
1/21/25
..
365
362
991777444.UG.FTS.B,
29.49%,
1/21/25
..
134
135
991777636.UG.FTS.B,
29.49%,
1/21/25
..
142
144
991779204.UG.FTS.B,
29.49%,
1/21/25
..
117
119
991780986.UG.FTS.B,
29.49%,
1/21/25
..
78
5
991783537.UG.FTS.B,
29.49%,
1/21/25
..
184
25
991784118.UG.FTS.B,
29.49%,
1/21/25
..
524
531
991784986.UG.FTS.B,
29.49%,
1/21/25
..
171
174
991785876.UG.FTS.B,
29.49%,
1/21/25
..
362
366
991786017.UG.FTS.B,
29.49%,
1/21/25
..
573
582
991792227.UG.FTS.B,
29.49%,
1/21/25
..
450
456
991635837.UG.FTS.B,
Zero
Cpn,
1/22/25
.
168
–
991667360.UG.FTS.B,
Zero
Cpn,
1/22/25
.
106
–
991683198.UG.FTS.B,
14.98%,
1/22/25
..
122
123
991718275.UG.FTS.B,
14.98%,
1/22/25
..
1,725
1,764
991737948.UG.FTS.B,
14.98%,
1/22/25
..
573
582
991790203.UG.FTS.B,
14.98%,
1/22/25
..
161
164
991756518.UG.FTS.B,
15%,
1/22/25
.....
232
236
991690554.UG.FTS.B,
15.97%,
1/22/25
..
1,775
1,811
991754215.UG.FTS.B,
15.97%,
1/22/25
..
202
205
991801345.UG.FTS.B,
15.97%,
1/22/25
..
865
880
991720895.UG.FTS.B,
16.99%,
1/22/25
..
4,443
4,549
991775455.UG.FTS.B,
16.99%,
1/22/25
..
1,209
1,230
991802447.UG.FTS.B,
16.99%,
1/22/25
..
4,329
4,404
991698551.UG.FTS.B,
17.99%,
1/22/25
..
561
573
991737072.UG.FTS.B,
17.99%,
1/22/25
..
646
657
991737115.UG.FTS.B,
17.99%,
1/22/25
..
607
616
991634646.UG.FTS.B,
18.97%,
1/22/25
..
437
447
991687893.UG.FTS.B,
18.97%,
1/22/25
..
860
873
991707935.UG.FTS.B,
18.97%,
1/22/25
..
413
420
991718040.UG.FTS.B,
18.97%,
1/22/25
..
264
270
991647527.UG.FTS.B,
19.21%,
1/22/25
..
19
19
991685413.UG.FTS.B,
19.21%,
1/22/25
..
185
188
991691716.UG.FTS.B,
19.21%,
1/22/25
..
2,178
2,222
991705742.UG.FTS.B,
19.21%,
1/22/25
..
1,515
1,546
991719610.UG.FTS.B,
19.21%,
1/22/25
..
1,744
1,780
991789966.UG.FTS.B,
19.8%,
1/22/25
...
248
251
991643928.UG.FTS.B,
19.97%,
1/22/25
..
137
140
991683557.UG.FTS.B,
19.99%,
1/22/25
..
2,621
2,708
991699543.UG.FTS.B,
19.99%,
1/22/25
..
141
140
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
142
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991756568.UG.FTS.B,
19.99%,
1/22/25
..
$
224
$
228
991788027.UG.FTS.B,
19.99%,
1/22/25
..
220
224
991798308.UG.FTS.B,
19.99%,
1/22/25
..
49
50
991760190.UG.FTS.B,
20.46%,
1/22/25
..
13
13
991662768.UG.FTS.B,
20.97%,
1/22/25
..
123
124
991725447.UG.FTS.B,
20.97%,
1/22/25
..
72
73
991656133.UG.FTS.B,
21.46%,
1/22/25
..
436
443
991695092.UG.FTS.B,
21.46%,
1/22/25
..
387
389
991754484.UG.FTS.B,
21.46%,
1/22/25
..
157
158
991637211.UG.FTS.B,
21.97%,
1/22/25
..
197
200
991678173.UG.FTS.B,
21.98%,
1/22/25
..
113
113
991710476.UG.FTS.B,
21.98%,
1/22/25
..
34
34
991682011.UG.FTS.B,
22.97%,
1/22/25
..
297
297
991801534.UG.FTS.B,
22.97%,
1/22/25
..
134
135
991671050.UG.FTS.B,
23.95%,
1/22/25
..
121
123
991672498.UG.FTS.B,
23.95%,
1/22/25
..
152
154
991676913.UG.FTS.B,
23.95%,
1/22/25
..
1,762
1,786
991709833.UG.FTS.B,
23.95%,
1/22/25
..
9
9
991629369.UG.FTS.B,
26.94%,
1/22/25
..
107
108
991652030.UG.FTS.B,
26.94%,
1/22/25
..
155
157
991664671.UG.FTS.B,
26.94%,
1/22/25
..
164
165
991701628.UG.FTS.B,
27.99%,
1/22/25
..
20
21
991629638.UG.FTS.B,
28.98%,
1/22/25
..
222
229
991632809.UG.FTS.B,
28.98%,
1/22/25
..
140
144
991638269.UG.FTS.B,
28.98%,
1/22/25
..
22
22
991653648.UG.FTS.B,
28.98%,
1/22/25
..
64
66
991654067.UG.FTS.B,
28.98%,
1/22/25
..
1,060
1,088
991655233.UG.FTS.B,
28.98%,
1/22/25
..
245
253
991655297.UG.FTS.B,
28.98%,
1/22/25
..
232
237
991655490.UG.FTS.B,
28.98%,
1/22/25
..
1,817
238
991655916.UG.FTS.B,
28.98%,
1/22/25
..
202
207
991657460.UG.FTS.B,
28.98%,
1/22/25
..
450
465
991662161.UG.FTS.B,
28.98%,
1/22/25
..
15
15
991662231.UG.FTS.B,
28.98%,
1/22/25
..
115
117
991662724.UG.FTS.B,
28.98%,
1/22/25
..
49
50
991675418.UG.FTS.B,
28.98%,
1/22/25
..
57
57
991678788.UG.FTS.B,
28.98%,
1/22/25
..
350
350
991683610.UG.FTS.B,
28.98%,
1/22/25
..
128
132
991694072.UG.FTS.B,
28.98%,
1/22/25
..
740
763
991698065.UG.FTS.B,
28.98%,
1/22/25
..
422
424
991701337.UG.FTS.B,
28.98%,
1/22/25
..
–
–
991709563.UG.FTS.B,
28.98%,
1/22/25
..
18
18
991711153.UG.FTS.B,
28.98%,
1/22/25
..
60
62
991718046.UG.FTS.B,
28.98%,
1/22/25
..
709
731
991720046.UG.FTS.B,
28.98%,
1/22/25
..
48
48
991722351.UG.FTS.B,
28.98%,
1/22/25
..
886
915
991723958.UG.FTS.B,
28.98%,
1/22/25
..
69
68
991758512.UG.FTS.B,
28.98%,
1/22/25
..
64
65
991763204.UG.FTS.B,
28.98%,
1/22/25
..
680
692
991766379.UG.FTS.B,
28.98%,
1/22/25
..
39
38
991777107.UG.FTS.B,
28.98%,
1/22/25
..
42
3
991783308.UG.FTS.B,
28.98%,
1/22/25
..
242
241
991802680.UG.FTS.B,
28.98%,
1/22/25
..
151
154
991628550.UG.FTS.B,
29.49%,
1/22/25
..
91
94
991632487.UG.FTS.B,
29.49%,
1/22/25
..
160
22
991633634.UG.FTS.B,
29.49%,
1/22/25
..
112
116
991634002.UG.FTS.B,
29.49%,
1/22/25
..
4,532
4,624
991634061.UG.FTS.B,
29.49%,
1/22/25
..
222
229
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991634393.UG.FTS.B,
29.49%,
1/22/25
..
$
3,009
$
3,063
991636661.UG.FTS.B,
29.49%,
1/22/25
..
2,435
2,512
991642369.UG.FTS.B,
29.49%,
1/22/25
..
18
18
991642874.UG.FTS.B,
29.49%,
1/22/25
..
94
97
991643689.UG.FTS.B,
29.49%,
1/22/25
..
198
14
991644780.UG.FTS.B,
29.49%,
1/22/25
..
23
23
991644808.UG.FTS.B,
29.49%,
1/22/25
..
82
84
991646259.UG.FTS.B,
29.49%,
1/22/25
..
640
660
991647696.UG.FTS.B,
29.49%,
1/22/25
..
9
9
991649926.UG.FTS.B,
29.49%,
1/22/25
..
553
556
991650009.UG.FTS.B,
29.49%,
1/22/25
..
45
46
991650045.UG.FTS.B,
29.49%,
1/22/25
..
144
10
991653804.UG.FTS.B,
29.49%,
1/22/25
..
470
485
991658593.UG.FTS.B,
29.49%,
1/22/25
..
164
166
991661478.UG.FTS.B,
29.49%,
1/22/25
..
1,286
88
991663564.UG.FTS.B,
29.49%,
1/22/25
..
1,390
1,424
991664068.UG.FTS.B,
29.49%,
1/22/25
..
152
10
991665961.UG.FTS.B,
29.49%,
1/22/25
..
6
6
991671251.UG.FTS.B,
29.49%,
1/22/25
..
30
30
991672394.UG.FTS.B,
29.49%,
1/22/25
..
97
100
991678636.UG.FTS.B,
29.49%,
1/22/25
..
123
125
991679933.UG.FTS.B,
29.49%,
1/22/25
..
42
42
991682094.UG.FTS.B,
29.49%,
1/22/25
..
711
734
991688247.UG.FTS.B,
29.49%,
1/22/25
..
133
138
991710294.UG.FTS.B,
29.49%,
1/22/25
..
84
86
991713002.UG.FTS.B,
29.49%,
1/22/25
..
15
3
991713706.UG.FTS.B,
29.49%,
1/22/25
..
127
129
991718289.UG.FTS.B,
29.49%,
1/22/25
..
1,073
1,103
991718290.UG.FTS.B,
29.49%,
1/22/25
..
168
171
991720578.UG.FTS.B,
29.49%,
1/22/25
..
252
258
991736296.UG.FTS.B,
29.49%,
1/22/25
..
115
116
991746532.UG.FTS.B,
29.49%,
1/22/25
..
1,290
1,310
991747337.UG.FTS.B,
29.49%,
1/22/25
..
49
50
991749787.UG.FTS.B,
29.49%,
1/22/25
..
310
312
991751645.UG.FTS.B,
29.49%,
1/22/25
..
107
108
991752337.UG.FTS.B,
29.49%,
1/22/25
..
333
45
991752883.UG.FTS.B,
29.49%,
1/22/25
..
47
40
991755018.UG.FTS.B,
29.49%,
1/22/25
..
188
191
991758600.UG.FTS.B,
29.49%,
1/22/25
..
27
27
991758788.UG.FTS.B,
29.49%,
1/22/25
..
288
293
991764307.UG.FTS.B,
29.49%,
1/22/25
..
18
18
991765455.UG.FTS.B,
29.49%,
1/22/25
..
309
314
991765762.UG.FTS.B,
29.49%,
1/22/25
..
2
2
991773156.UG.FTS.B,
29.49%,
1/22/25
..
467
314
991774923.UG.FTS.B,
29.49%,
1/22/25
..
140
141
991779420.UG.FTS.B,
29.49%,
1/22/25
..
369
365
991783612.UG.FTS.B,
29.49%,
1/22/25
..
2,875
(105)
991783625.UG.FTS.B,
29.49%,
1/22/25
..
124
125
991784478.UG.FTS.B,
29.49%,
1/22/25
..
25
26
991787661.UG.FTS.B,
29.49%,
1/22/25
..
48
49
991792431.UG.FTS.B,
29.49%,
1/22/25
..
1,177
1,165
991792565.UG.FTS.B,
29.49%,
1/22/25
..
34
6
991794136.UG.FTS.B,
29.49%,
1/22/25
..
175
176
991798587.UG.FTS.B,
29.49%,
1/22/25
..
35
35
991802876.UG.FTS.B,
29.49%,
1/22/25
..
440
445
991806840.UG.FTS.B,
29.49%,
1/22/25
..
–
–
991808836.UG.FTS.B,
29.49%,
1/22/25
..
31
31
991778465.UG.FTS.B,
29.99%,
1/22/25
..
35
36
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
143
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991748353.UG.FTS.B,
Zero
Cpn,
1/23/25
.
$
250
$
–
991636779.UG.FTS.B,
14.98%,
1/23/25
..
136
138
991673294.UG.FTS.B,
14.98%,
1/23/25
..
4,812
4,904
991685301.UG.FTS.B,
14.98%,
1/23/25
..
1,213
1,241
991810697.UG.FTS.B,
14.98%,
1/23/25
..
1,289
1,310
991640768.UG.FTS.B,
15%,
1/23/25
.....
320
324
991669666.UG.FTS.B,
15.97%,
1/23/25
..
218
223
991720270.UG.FTS.B,
16.99%,
1/23/25
..
763
780
991743124.UG.FTS.B,
16.99%,
1/23/25
..
285
289
991724639.UG.FTS.B,
17.99%,
1/23/25
..
90
91
991732570.UG.FTS.B,
17.99%,
1/23/25
..
394
28
991806652.UG.FTS.B,
17.99%,
1/23/25
..
354
358
991713762.UG.FTS.B,
18.21%,
1/23/25
..
237
238
991807503.UG.FTS.B,
18.21%,
1/23/25
..
32
32
991629464.UG.FTS.B,
18.97%,
1/23/25
..
116
117
991633176.UG.FTS.B,
18.97%,
1/23/25
..
4,177
781
991634874.UG.FTS.B,
18.97%,
1/23/25
..
1,744
1,780
991637138.UG.FTS.B,
18.97%,
1/23/25
..
593
606
991652563.UG.FTS.B,
18.97%,
1/23/25
..
1,618
1,652
991654901.UG.FTS.B,
18.97%,
1/23/25
..
8,737
8,922
991665228.UG.FTS.B,
18.97%,
1/23/25
..
786
802
991732049.UG.FTS.B,
18.97%,
1/23/25
..
1,431
1,453
991802570.UG.FTS.B,
18.97%,
1/23/25
..
943
957
991655628.UG.FTS.B,
19.21%,
1/23/25
..
432
441
991700455.UG.FTS.B,
19.21%,
1/23/25
..
380
388
991720395.UG.FTS.B,
19.21%,
1/23/25
..
522
533
991723070.UG.FTS.B,
19.21%,
1/23/25
..
1,741
1,776
991774744.UG.FTS.B,
19.21%,
1/23/25
..
13,018
13,203
991801084.UG.FTS.B,
19.21%,
1/23/25
..
852
861
991658233.UG.FTS.B,
19.8%,
1/23/25
...
875
892
991666998.UG.FTS.B,
19.8%,
1/23/25
...
191
118
991681904.UG.FTS.B,
19.8%,
1/23/25
...
766
472
991772614.UG.FTS.B,
19.8%,
1/23/25
...
3,128
3,167
991792267.UG.FTS.B,
19.8%,
1/23/25
...
1,988
1,995
991793572.UG.FTS.B,
19.8%,
1/23/25
...
1,736
1,758
991817217.UG.FTS.B,
19.8%,
1/23/25
...
60
61
991632705.UG.FTS.B,
19.99%,
1/23/25
..
2,367
2,446
991655150.UG.FTS.B,
19.99%,
1/23/25
..
756
770
991671970.UG.FTS.B,
19.99%,
1/23/25
..
317
327
991679224.UG.FTS.B,
19.99%,
1/23/25
..
272
276
991811950.UG.FTS.B,
19.99%,
1/23/25
..
169
170
991634057.UG.FTS.B,
20.46%,
1/23/25
..
19
19
991665786.UG.FTS.B,
20.46%,
1/23/25
..
259
264
991701667.UG.FTS.B,
20.46%,
1/23/25
..
169
172
991718868.UG.FTS.B,
20.46%,
1/23/25
..
286
291
991722899.UG.FTS.B,
20.46%,
1/23/25
..
262
267
991735353.UG.FTS.B,
20.97%,
1/23/25
..
74
75
991705904.UG.FTS.B,
20.98%,
1/23/25
..
98
99
991638426.UG.FTS.B,
21.46%,
1/23/25
..
1,280
1,291
991653986.UG.FTS.B,
21.46%,
1/23/25
..
311
311
991661446.UG.FTS.B,
21.46%,
1/23/25
..
110
112
991677495.UG.FTS.B,
21.46%,
1/23/25
..
166
168
991688517.UG.FTS.B,
21.46%,
1/23/25
..
385
389
991693269.UG.FTS.B,
21.46%,
1/23/25
..
121
123
991700214.UG.FTS.B,
21.46%,
1/23/25
..
284
289
991710233.UG.FTS.B,
21.46%,
1/23/25
..
570
579
991745840.UG.FTS.B,
21.46%,
1/23/25
..
571
575
991760990.UG.FTS.B,
21.46%,
1/23/25
..
63
63
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991666562.UG.FTS.B,
21.97%,
1/23/25
..
$
351
$
357
991639095.UG.FTS.B,
21.98%,
1/23/25
..
203
206
991641726.UG.FTS.B,
21.98%,
1/23/25
..
975
983
991759715.UG.FTS.B,
21.98%,
1/23/25
..
525
530
991786528.UG.FTS.B,
21.98%,
1/23/25
..
160
161
991698290.UG.FTS.B,
22.97%,
1/23/25
..
1,204
91
991644696.UG.FTS.B,
23.95%,
1/23/25
..
155
156
991788954.UG.FTS.B,
23.95%,
1/23/25
..
5
5
991784495.UG.FTS.B,
25.98%,
1/23/25
..
197
199
991666003.UG.FTS.B,
26.94%,
1/23/25
..
150
151
991693097.UG.FTS.B,
26.94%,
1/23/25
..
480
481
991629548.UG.FTS.B,
28.98%,
1/23/25
..
381
393
991631431.UG.FTS.B,
28.98%,
1/23/25
..
207
14
991635693.UG.FTS.B,
28.98%,
1/23/25
..
179
184
991636074.UG.FTS.B,
28.98%,
1/23/25
..
756
778
991636843.UG.FTS.B,
28.98%,
1/23/25
..
496
505
991643376.UG.FTS.B,
28.98%,
1/23/25
..
0
0
991644625.UG.FTS.B,
28.98%,
1/23/25
..
189
195
991644719.UG.FTS.B,
28.98%,
1/23/25
..
824
839
991655367.UG.FTS.B,
28.98%,
1/23/25
..
888
917
991656845.UG.FTS.B,
28.98%,
1/23/25
..
178
184
991662149.UG.FTS.B,
28.98%,
1/23/25
..
392
393
991665357.UG.FTS.B,
28.98%,
1/23/25
..
1,962
2,002
991665490.UG.FTS.B,
28.98%,
1/23/25
..
446
460
991667605.UG.FTS.B,
28.98%,
1/23/25
..
599
618
991667673.UG.FTS.B,
28.98%,
1/23/25
..
135
18
991667998.UG.FTS.B,
28.98%,
1/23/25
..
1,534
1,527
991671053.UG.FTS.B,
28.98%,
1/23/25
..
32
32
991671248.UG.FTS.B,
28.98%,
1/23/25
..
170
175
991671791.UG.FTS.B,
28.98%,
1/23/25
..
294
297
991675411.UG.FTS.B,
28.98%,
1/23/25
..
761
769
991677694.UG.FTS.B,
28.98%,
1/23/25
..
1,096
1,113
991679075.UG.FTS.B,
28.98%,
1/23/25
..
75
77
991693174.UG.FTS.B,
28.98%,
1/23/25
..
223
230
991693333.UG.FTS.B,
28.98%,
1/23/25
..
254
260
991695544.UG.FTS.B,
28.98%,
1/23/25
..
210
217
991696216.UG.FTS.B,
28.98%,
1/23/25
..
28
29
991700691.UG.FTS.B,
28.98%,
1/23/25
..
62
64
991713738.UG.FTS.B,
28.98%,
1/23/25
..
3
3
991714226.UG.FTS.B,
28.98%,
1/23/25
..
152
154
991719766.UG.FTS.B,
28.98%,
1/23/25
..
444
458
991720618.UG.FTS.B,
28.98%,
1/23/25
..
111
114
991722435.UG.FTS.B,
28.98%,
1/23/25
..
984
68
991725624.UG.FTS.B,
28.98%,
1/23/25
..
118
121
991734227.UG.FTS.B,
28.98%,
1/23/25
..
244
247
991736765.UG.FTS.B,
28.98%,
1/23/25
..
188
188
991739642.UG.FTS.B,
28.98%,
1/23/25
..
86
88
991740876.UG.FTS.B,
28.98%,
1/23/25
..
4,103
4,158
991743895.UG.FTS.B,
28.98%,
1/23/25
..
278
283
991755793.UG.FTS.B,
28.98%,
1/23/25
..
241
242
991760215.UG.FTS.B,
28.98%,
1/23/25
..
91
93
991762827.UG.FTS.B,
28.98%,
1/23/25
..
3
3
991764530.UG.FTS.B,
28.98%,
1/23/25
..
156
156
991768579.UG.FTS.B,
28.98%,
1/23/25
..
43
43
991768584.UG.FTS.B,
28.98%,
1/23/25
..
55
56
991772947.UG.FTS.B,
28.98%,
1/23/25
..
878
894
991772955.UG.FTS.B,
28.98%,
1/23/25
..
144
(2)
991774877.UG.FTS.B,
28.98%,
1/23/25
..
168
171
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
144
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991779183.UG.FTS.B,
28.98%,
1/23/25
..
$
944
$
939
991782023.UG.FTS.B,
28.98%,
1/23/25
..
437
445
991782074.UG.FTS.B,
28.98%,
1/23/25
..
350
355
991782508.UG.FTS.B,
28.98%,
1/23/25
..
265
270
991785616.UG.FTS.B,
28.98%,
1/23/25
..
57
58
991795129.UG.FTS.B,
28.98%,
1/23/25
..
25
25
991797774.UG.FTS.B,
28.98%,
1/23/25
..
440
448
991807448.UG.FTS.B,
28.98%,
1/23/25
..
328
334
991807581.UG.FTS.B,
28.98%,
1/23/25
..
91
93
991717633.UG.FTS.B,
29.46%,
1/23/25
..
6
6
991787803.UG.FTS.B,
29.46%,
1/23/25
..
93
93
991798404.UG.FTS.B,
29.47%,
1/23/25
..
55
8
991632479.UG.FTS.B,
29.49%,
1/23/25
..
732
743
991634115.UG.FTS.B,
29.49%,
1/23/25
..
281
38
991635514.UG.FTS.B,
29.49%,
1/23/25
..
3,498
3,604
991635734.UG.FTS.B,
29.49%,
1/23/25
..
327
338
991640308.UG.FTS.B,
29.49%,
1/23/25
..
447
454
991640354.UG.FTS.B,
29.49%,
1/23/25
..
369
381
991640844.UG.FTS.B,
29.49%,
1/23/25
..
79
81
991643437.UG.FTS.B,
29.49%,
1/23/25
..
157
162
991646303.UG.FTS.B,
29.49%,
1/23/25
..
207
28
991646401.UG.FTS.B,
29.49%,
1/23/25
..
44
38
991648051.UG.FTS.B,
29.49%,
1/23/25
..
456
471
991649488.UG.FTS.B,
29.49%,
1/23/25
..
259
267
991650076.UG.FTS.B,
29.49%,
1/23/25
..
74
75
991650094.UG.FTS.B,
29.49%,
1/23/25
..
132
136
991651099.UG.FTS.B,
29.49%,
1/23/25
..
118
121
991652096.UG.FTS.B,
29.49%,
1/23/25
..
0
0
991654911.UG.FTS.B,
29.49%,
1/23/25
..
225
15
991655169.UG.FTS.B,
29.49%,
1/23/25
..
179
185
991659040.UG.FTS.B,
29.49%,
1/23/25
..
73
74
991659984.UG.FTS.B,
29.49%,
1/23/25
..
57
58
991660183.UG.FTS.B,
29.49%,
1/23/25
..
246
18
991660204.UG.FTS.B,
29.49%,
1/23/25
..
128
130
991661550.UG.FTS.B,
29.49%,
1/23/25
..
146
148
991662010.UG.FTS.B,
29.49%,
1/23/25
..
211
218
991662703.UG.FTS.B,
29.49%,
1/23/25
..
68
68
991664752.UG.FTS.B,
29.49%,
1/23/25
..
1,329
1,352
991664791.UG.FTS.B,
29.49%,
1/23/25
..
205
212
991667627.UG.FTS.B,
29.49%,
1/23/25
..
198
203
991669123.UG.FTS.B,
29.49%,
1/23/25
..
384
391
991669828.UG.FTS.B,
29.49%,
1/23/25
..
272
281
991670618.UG.FTS.B,
29.49%,
1/23/25
..
308
317
991672381.UG.FTS.B,
29.49%,
1/23/25
..
460
473
991672410.UG.FTS.B,
29.49%,
1/23/25
..
10
10
991672472.UG.FTS.B,
29.49%,
1/23/25
..
163
169
991674428.UG.FTS.B,
29.49%,
1/23/25
..
1,242
1,282
991678185.UG.FTS.B,
29.49%,
1/23/25
..
95
97
991678811.UG.FTS.B,
29.49%,
1/23/25
..
557
575
991680942.UG.FTS.B,
29.49%,
1/23/25
..
450
465
991682804.UG.FTS.B,
29.49%,
1/23/25
..
369
371
991684286.UG.FTS.B,
29.49%,
1/23/25
..
24
24
991684319.UG.FTS.B,
29.49%,
1/23/25
..
88
90
991684915.UG.FTS.B,
29.49%,
1/23/25
..
179
24
991685294.UG.FTS.B,
29.49%,
1/23/25
..
418
417
991685999.UG.FTS.B,
29.49%,
1/23/25
..
72
73
991686992.UG.FTS.B,
29.49%,
1/23/25
..
19
19
991687091.UG.FTS.B,
29.49%,
1/23/25
..
12
12
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991688415.UG.FTS.B,
29.49%,
1/23/25
..
$
592
$
597
991688858.UG.FTS.B,
29.49%,
1/23/25
..
196
199
991692660.UG.FTS.B,
29.49%,
1/23/25
..
21
21
991693141.UG.FTS.B,
29.49%,
1/23/25
..
76
78
991694241.UG.FTS.B,
29.49%,
1/23/25
..
129
132
991695744.UG.FTS.B,
29.49%,
1/23/25
..
115
8
991700061.UG.FTS.B,
29.49%,
1/23/25
..
40
40
991701192.UG.FTS.B,
29.49%,
1/23/25
..
145
10
991701242.UG.FTS.B,
29.49%,
1/23/25
..
15
15
991705948.UG.FTS.B,
29.49%,
1/23/25
..
95
98
991707157.UG.FTS.B,
29.49%,
1/23/25
..
634
44
991710464.UG.FTS.B,
29.49%,
1/23/25
..
143
144
991713650.UG.FTS.B,
29.49%,
1/23/25
..
1,368
184
991714208.UG.FTS.B,
29.49%,
1/23/25
..
35
35
991718098.UG.FTS.B,
29.49%,
1/23/25
..
212
144
991719609.UG.FTS.B,
29.49%,
1/23/25
..
115
8
991725741.UG.FTS.B,
29.49%,
1/23/25
..
182
24
991727898.UG.FTS.B,
29.49%,
1/23/25
..
138
140
991731138.UG.FTS.B,
29.49%,
1/23/25
..
114
113
991732421.UG.FTS.B,
29.49%,
1/23/25
..
10
10
991740952.UG.FTS.B,
29.49%,
1/23/25
..
195
197
991749819.UG.FTS.B,
29.49%,
1/23/25
..
195
197
991749836.UG.FTS.B,
29.49%,
1/23/25
..
1,763
1,792
991753605.UG.FTS.B,
29.49%,
1/23/25
..
5
5
991758368.UG.FTS.B,
29.49%,
1/23/25
..
338
344
991759014.UG.FTS.B,
29.49%,
1/23/25
..
137
138
991762640.UG.FTS.B,
29.49%,
1/23/25
..
141
143
991762816.UG.FTS.B,
29.49%,
1/23/25
..
113
115
991763398.UG.FTS.B,
29.49%,
1/23/25
..
115
117
991763664.UG.FTS.B,
29.49%,
1/23/25
..
37
38
991764778.UG.FTS.B,
29.49%,
1/23/25
..
149
151
991764948.UG.FTS.B,
29.49%,
1/23/25
..
73
74
991766961.UG.FTS.B,
29.49%,
1/23/25
..
–
–
991768207.UG.FTS.B,
29.49%,
1/23/25
..
26
26
991768574.UG.FTS.B,
29.49%,
1/23/25
..
47
47
991773008.UG.FTS.B,
29.49%,
1/23/25
..
133
136
991777722.UG.FTS.B,
29.49%,
1/23/25
..
12
12
991778351.UG.FTS.B,
29.49%,
1/23/25
..
7
7
991779628.UG.FTS.B,
29.49%,
1/23/25
..
51
52
991779677.UG.FTS.B,
29.49%,
1/23/25
..
34
30
991781006.UG.FTS.B,
29.49%,
1/23/25
..
49
8
991781870.UG.FTS.B,
29.49%,
1/23/25
..
329
332
991782329.UG.FTS.B,
29.49%,
1/23/25
..
126
85
991783407.UG.FTS.B,
29.49%,
1/23/25
..
263
267
991787630.UG.FTS.B,
29.49%,
1/23/25
..
92
95
991789258.UG.FTS.B,
29.49%,
1/23/25
..
2
2
991791018.UG.FTS.B,
29.49%,
1/23/25
..
155
154
991792329.UG.FTS.B,
29.49%,
1/23/25
..
396
402
991792570.UG.FTS.B,
29.49%,
1/23/25
..
441
446
991792684.UG.FTS.B,
29.49%,
1/23/25
..
992
993
991795096.UG.FTS.B,
29.49%,
1/23/25
..
832
842
991795103.UG.FTS.B,
29.49%,
1/23/25
..
69
70
991798958.UG.FTS.B,
29.49%,
1/23/25
..
643
646
991816343.UG.FTS.B,
29.49%,
1/23/25
..
142
144
991816545.UG.FTS.B,
29.49%,
1/23/25
..
149
151
991817291.UG.FTS.B,
29.49%,
1/23/25
..
397
399
991576117.UG.FTS.B,
Zero
Cpn,
1/24/25
.
230
–
991631216.UG.FTS.B,
Zero
Cpn,
1/24/25
.
228
–
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
145
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991638769.UG.FTS.B,
Zero
Cpn,
1/24/25
.
$
47
$
–
991656882.UG.FTS.B,
14.98%,
1/24/25
..
354
362
991755553.UG.FTS.B,
14.98%,
1/24/25
..
333
339
991648853.UG.FTS.B,
15%,
1/24/25
.....
4,418
4,512
991708919.UG.FTS.B,
15%,
1/24/25
.....
45
45
991800979.UG.FTS.B,
15.97%,
1/24/25
..
6,032
6,140
991636992.UG.FTS.B,
16.99%,
1/24/25
..
201
202
991638528.UG.FTS.B,
16.99%,
1/24/25
..
420
430
991642911.UG.FTS.B,
16.99%,
1/24/25
..
333
340
991708759.UG.FTS.B,
17.99%,
1/24/25
..
1,949
1,992
991734778.UG.FTS.B,
17.99%,
1/24/25
..
131
133
991746840.UG.FTS.B,
17.99%,
1/24/25
..
1,580
1,600
991799064.UG.FTS.B,
17.99%,
1/24/25
..
793
807
991690303.UG.FTS.B,
18.97%,
1/24/25
..
698
713
991699954.UG.FTS.B,
18.97%,
1/24/25
..
120
123
991702242.UG.FTS.B,
18.97%,
1/24/25
..
64
65
991708811.UG.FTS.B,
18.97%,
1/24/25
..
872
886
991704768.UG.FTS.B,
19.21%,
1/24/25
..
691
704
991656757.UG.FTS.B,
19.46%,
1/24/25
..
3,658
3,697
991632438.UG.FTS.B,
19.8%,
1/24/25
...
1,675
1,686
991697824.UG.FTS.B,
19.8%,
1/24/25
...
131
132
991806310.UG.FTS.B,
19.97%,
1/24/25
..
462
34
991575290.UG.FTS.B,
19.99%,
1/24/25
..
157
162
991576025.UG.FTS.B,
19.99%,
1/24/25
..
166
170
991581472.UG.FTS.B,
19.99%,
1/24/25
..
112
115
991585928.UG.FTS.B,
19.99%,
1/24/25
..
26
26
991598140.UG.FTS.B,
19.99%,
1/24/25
..
135
139
991608248.UG.FTS.B,
19.99%,
1/24/25
..
87
12
991629457.UG.FTS.B,
19.99%,
1/24/25
..
666
688
991642292.UG.FTS.B,
19.99%,
1/24/25
..
180
184
991650113.UG.FTS.B,
19.99%,
1/24/25
..
2,495
2,516
991651074.UG.FTS.B,
19.99%,
1/24/25
..
67
68
991653352.UG.FTS.B,
19.99%,
1/24/25
..
143
148
991799920.UG.FTS.B,
19.99%,
1/24/25
..
1,871
1,906
991801704.UG.FTS.B,
19.99%,
1/24/25
..
1,588
1,608
991805172.UG.FTS.B,
19.99%,
1/24/25
..
106
109
991805637.UG.FTS.B,
19.99%,
1/24/25
..
230
234
991807354.UG.FTS.B,
19.99%,
1/24/25
..
99
100
991813869.UG.FTS.B,
19.99%,
1/24/25
..
111
111
991722377.UG.FTS.B,
20.46%,
1/24/25
..
2,620
2,669
991745755.UG.FTS.B,
20.46%,
1/24/25
..
454
459
991781421.UG.FTS.B,
20.46%,
1/24/25
..
326
330
991786433.UG.FTS.B,
20.46%,
1/24/25
..
148
150
991699313.UG.FTS.B,
20.97%,
1/24/25
..
548
554
991631506.UG.FTS.B,
21.46%,
1/24/25
..
299
304
991749758.UG.FTS.B,
21.46%,
1/24/25
..
5,214
5,256
991786125.UG.FTS.B,
21.46%,
1/24/25
..
164
166
991806077.UG.FTS.B,
21.97%,
1/24/25
..
116
116
991691604.UG.FTS.B,
21.98%,
1/24/25
..
439
446
991722423.UG.FTS.B,
21.98%,
1/24/25
..
3,942
4,004
991748280.UG.FTS.B,
21.98%,
1/24/25
..
99
100
991801295.UG.FTS.B,
21.98%,
1/24/25
..
871
878
991717329.UG.FTS.B,
22.97%,
1/24/25
..
2,160
2,193
991792960.UG.FTS.B,
23.95%,
1/24/25
..
563
43
991706518.UG.FTS.B,
24.95%,
1/24/25
..
1,191
1,205
991812772.UG.FTS.B,
25.94%,
1/24/25
..
22
20
991644078.UG.FTS.B,
25.95%,
1/24/25
..
712
719
991700887.UG.FTS.B,
25.95%,
1/24/25
..
171
173
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991635736.UG.FTS.B,
26.94%,
1/24/25
..
$
350
$
75
991780248.UG.FTS.B,
27.95%,
1/24/25
..
98
100
991788761.UG.FTS.B,
27.95%,
1/24/25
..
12
12
991680442.UG.FTS.B,
27.99%,
1/24/25
..
49
50
991575668.UG.FTS.B,
28.98%,
1/24/25
..
51
51
991575802.UG.FTS.B,
28.98%,
1/24/25
..
1,568
1,564
991577230.UG.FTS.B,
28.98%,
1/24/25
..
180
186
991577662.UG.FTS.B,
28.98%,
1/24/25
..
319
323
991578086.UG.FTS.B,
28.98%,
1/24/25
..
160
166
991578656.UG.FTS.B,
28.98%,
1/24/25
..
1,139
1,155
991578983.UG.FTS.B,
28.98%,
1/24/25
..
1,307
874
991583017.UG.FTS.B,
28.98%,
1/24/25
..
377
389
991586355.UG.FTS.B,
28.98%,
1/24/25
..
179
184
991592816.UG.FTS.B,
28.98%,
1/24/25
..
26
26
991595786.UG.FTS.B,
28.98%,
1/24/25
..
123
127
991596284.UG.FTS.B,
28.98%,
1/24/25
..
759
762
991628863.UG.FTS.B,
28.98%,
1/24/25
..
722
476
991629929.UG.FTS.B,
28.98%,
1/24/25
..
333
332
991632674.UG.FTS.B,
28.98%,
1/24/25
..
124
128
991634826.UG.FTS.B,
28.98%,
1/24/25
..
672
694
991639159.UG.FTS.B,
28.98%,
1/24/25
..
106
109
991640485.UG.FTS.B,
28.98%,
1/24/25
..
1,342
1,369
991640929.UG.FTS.B,
28.98%,
1/24/25
..
53
53
991643556.UG.FTS.B,
28.98%,
1/24/25
..
588
(6)
991644552.UG.FTS.B,
28.98%,
1/24/25
..
33
34
991645339.UG.FTS.B,
28.98%,
1/24/25
..
551
555
991649512.UG.FTS.B,
28.98%,
1/24/25
..
177
181
991649611.UG.FTS.B,
28.98%,
1/24/25
..
228
235
991651901.UG.FTS.B,
28.98%,
1/24/25
..
741
765
991659856.UG.FTS.B,
28.98%,
1/24/25
..
130
134
991662614.UG.FTS.B,
28.98%,
1/24/25
..
72
74
991664144.UG.FTS.B,
28.98%,
1/24/25
..
62
63
991665878.UG.FTS.B,
28.98%,
1/24/25
..
393
406
991667154.UG.FTS.B,
28.98%,
1/24/25
..
619
616
991669337.UG.FTS.B,
28.98%,
1/24/25
..
109
110
991670648.UG.FTS.B,
28.98%,
1/24/25
..
147
150
991671947.UG.FTS.B,
28.98%,
1/24/25
..
494
510
991673929.UG.FTS.B,
28.98%,
1/24/25
..
357
368
991677444.UG.FTS.B,
28.98%,
1/24/25
..
22
23
991681258.UG.FTS.B,
28.98%,
1/24/25
..
1,254
1,272
991685641.UG.FTS.B,
28.98%,
1/24/25
..
341
347
991688160.UG.FTS.B,
28.98%,
1/24/25
..
2,774
368
991689399.UG.FTS.B,
28.98%,
1/24/25
..
154
157
991692103.UG.FTS.B,
28.98%,
1/24/25
..
534
552
991699090.UG.FTS.B,
28.98%,
1/24/25
..
11
11
991703547.UG.FTS.B,
28.98%,
1/24/25
..
338
347
991710310.UG.FTS.B,
28.98%,
1/24/25
..
228
227
991713017.UG.FTS.B,
28.98%,
1/24/25
..
199
205
991713085.UG.FTS.B,
28.98%,
1/24/25
..
306
312
991724136.UG.FTS.B,
28.98%,
1/24/25
..
142
146
991725698.UG.FTS.B,
28.98%,
1/24/25
..
298
304
991733516.UG.FTS.B,
28.98%,
1/24/25
..
361
368
991738430.UG.FTS.B,
28.98%,
1/24/25
..
326
332
991745188.UG.FTS.B,
28.98%,
1/24/25
..
1,303
89
991754574.UG.FTS.B,
28.98%,
1/24/25
..
5
5
991754851.UG.FTS.B,
28.98%,
1/24/25
..
113
115
991759330.UG.FTS.B,
28.98%,
1/24/25
..
80
11
991762575.UG.FTS.B,
28.98%,
1/24/25
..
708
721
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
146
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991766240.UG.FTS.B,
28.98%,
1/24/25
..
$
15
$
15
991776412.UG.FTS.B,
28.98%,
1/24/25
..
915
930
991777910.UG.FTS.B,
28.98%,
1/24/25
..
236
241
991780022.UG.FTS.B,
28.98%,
1/24/25
..
261
266
991780591.UG.FTS.B,
28.98%,
1/24/25
..
223
226
991781561.UG.FTS.B,
28.98%,
1/24/25
..
0
0
991781585.UG.FTS.B,
28.98%,
1/24/25
..
79
81
991781826.UG.FTS.B,
28.98%,
1/24/25
..
586
588
991782375.UG.FTS.B,
28.98%,
1/24/25
..
177
180
991783185.UG.FTS.B,
28.98%,
1/24/25
..
124
126
991783742.UG.FTS.B,
28.98%,
1/24/25
..
865
880
991783823.UG.FTS.B,
28.98%,
1/24/25
..
1,883
129
991785319.UG.FTS.B,
28.98%,
1/24/25
..
587
598
991789793.UG.FTS.B,
28.98%,
1/24/25
..
1,380
1,406
991789906.UG.FTS.B,
28.98%,
1/24/25
..
221
225
991791199.UG.FTS.B,
28.98%,
1/24/25
..
316
320
991791520.UG.FTS.B,
28.98%,
1/24/25
..
95
98
991795762.UG.FTS.B,
28.98%,
1/24/25
..
127
130
991797202.UG.FTS.B,
28.98%,
1/24/25
..
50
50
991800778.UG.FTS.B,
28.98%,
1/24/25
..
28
28
991808380.UG.FTS.B,
28.98%,
1/24/25
..
127
130
991814864.UG.FTS.B,
28.98%,
1/24/25
..
80
82
991817525.UG.FTS.B,
28.98%,
1/24/25
..
19
19
991821037.UG.FTS.B,
28.98%,
1/24/25
..
346
353
991822816.UG.FTS.B,
28.98%,
1/24/25
..
6
6
991576301.UG.FTS.B,
29.49%,
1/24/25
..
2,631
2,720
991576654.UG.FTS.B,
29.49%,
1/24/25
..
28
1
991577400.UG.FTS.B,
29.49%,
1/24/25
..
675
682
991577993.UG.FTS.B,
29.49%,
1/24/25
..
705
723
991579123.UG.FTS.B,
29.49%,
1/24/25
..
205
212
991580987.UG.FTS.B,
29.49%,
1/24/25
..
897
904
991581435.UG.FTS.B,
29.49%,
1/24/25
..
294
303
991585851.UG.FTS.B,
29.49%,
1/24/25
..
292
301
991589214.UG.FTS.B,
29.49%,
1/24/25
..
772
794
991589686.UG.FTS.B,
29.49%,
1/24/25
..
127
9
991596515.UG.FTS.B,
29.49%,
1/24/25
..
988
69
991598092.UG.FTS.B,
29.49%,
1/24/25
..
146
149
991598173.UG.FTS.B,
29.49%,
1/24/25
..
397
410
991612456.UG.FTS.B,
29.49%,
1/24/25
..
259
267
991613106.UG.FTS.B,
29.49%,
1/24/25
..
463
40
991623495.UG.FTS.B,
29.49%,
1/24/25
..
63
65
991630195.UG.FTS.B,
29.49%,
1/24/25
..
151
153
991631439.UG.FTS.B,
29.49%,
1/24/25
..
76
75
991633359.UG.FTS.B,
29.49%,
1/24/25
..
652
664
991635775.UG.FTS.B,
29.49%,
1/24/25
..
291
300
991636237.UG.FTS.B,
29.49%,
1/24/25
..
21
21
991637080.UG.FTS.B,
29.49%,
1/24/25
..
119
123
991638820.UG.FTS.B,
29.49%,
1/24/25
..
17
17
991638944.UG.FTS.B,
29.49%,
1/24/25
..
62
63
991644228.UG.FTS.B,
29.49%,
1/24/25
..
437
445
991644506.UG.FTS.B,
29.49%,
1/24/25
..
436
450
991644916.UG.FTS.B,
29.49%,
1/24/25
..
245
253
991645022.UG.FTS.B,
29.49%,
1/24/25
..
110
113
991646526.UG.FTS.B,
29.49%,
1/24/25
..
598
609
991648884.UG.FTS.B,
29.49%,
1/24/25
..
166
168
991650579.UG.FTS.B,
29.49%,
1/24/25
..
566
584
991651346.UG.FTS.B,
29.49%,
1/24/25
..
26
26
991653841.UG.FTS.B,
29.49%,
1/24/25
..
88
7
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991654006.UG.FTS.B,
29.49%,
1/24/25
..
$
152
$
154
991654015.UG.FTS.B,
29.49%,
1/24/25
..
42
42
991658417.UG.FTS.B,
29.49%,
1/24/25
..
687
710
991658664.UG.FTS.B,
29.49%,
1/24/25
..
201
207
991658973.UG.FTS.B,
29.49%,
1/24/25
..
377
390
991660665.UG.FTS.B,
29.49%,
1/24/25
..
473
481
991661860.UG.FTS.B,
29.49%,
1/24/25
..
228
227
991662002.UG.FTS.B,
29.49%,
1/24/25
..
535
553
991662006.UG.FTS.B,
29.49%,
1/24/25
..
35
36
991663979.UG.FTS.B,
29.49%,
1/24/25
..
89
91
991669322.UG.FTS.B,
29.49%,
1/24/25
..
288
20
991670699.UG.FTS.B,
29.49%,
1/24/25
..
70
70
991671992.UG.FTS.B,
29.49%,
1/24/25
..
806
832
991675138.UG.FTS.B,
29.49%,
1/24/25
..
196
202
991678769.UG.FTS.B,
29.49%,
1/24/25
..
24
24
991679391.UG.FTS.B,
29.49%,
1/24/25
..
28
29
991679445.UG.FTS.B,
29.49%,
1/24/25
..
137
141
991679552.UG.FTS.B,
29.49%,
1/24/25
..
190
13
991680577.UG.FTS.B,
29.49%,
1/24/25
..
58
57
991682018.UG.FTS.B,
29.49%,
1/24/25
..
52
53
991682353.UG.FTS.B,
29.49%,
1/24/25
..
981
1,013
991684029.UG.FTS.B,
29.49%,
1/24/25
..
139
143
991684181.UG.FTS.B,
29.49%,
1/24/25
..
770
795
991685612.UG.FTS.B,
29.49%,
1/24/25
..
342
349
991685762.UG.FTS.B,
29.49%,
1/24/25
..
60
60
991692375.UG.FTS.B,
29.49%,
1/24/25
..
38
38
991692427.UG.FTS.B,
29.49%,
1/24/25
..
577
574
991692536.UG.FTS.B,
29.49%,
1/24/25
..
342
353
991693340.UG.FTS.B,
29.49%,
1/24/25
..
168
115
991694080.UG.FTS.B,
29.49%,
1/24/25
..
88
91
991697044.UG.FTS.B,
29.49%,
1/24/25
..
282
291
991697265.UG.FTS.B,
29.49%,
1/24/25
..
34
34
991700205.UG.FTS.B,
29.49%,
1/24/25
..
423
430
991701529.UG.FTS.B,
29.49%,
1/24/25
..
198
204
991706610.UG.FTS.B,
29.49%,
1/24/25
..
60
61
991709442.UG.FTS.B,
29.49%,
1/24/25
..
215
17
991714607.UG.FTS.B,
29.49%,
1/24/25
..
311
314
991714756.UG.FTS.B,
29.49%,
1/24/25
..
65
65
991714762.UG.FTS.B,
29.49%,
1/24/25
..
137
138
991715066.UG.FTS.B,
29.49%,
1/24/25
..
130
131
991715483.UG.FTS.B,
29.49%,
1/24/25
..
308
21
991723894.UG.FTS.B,
29.49%,
1/24/25
..
300
308
991726881.UG.FTS.B,
29.49%,
1/24/25
..
245
250
991727546.UG.FTS.B,
29.49%,
1/24/25
..
75
76
991732404.UG.FTS.B,
29.49%,
1/24/25
..
33
34
991734029.UG.FTS.B,
29.49%,
1/24/25
..
18
18
991735728.UG.FTS.B,
29.49%,
1/24/25
..
–
–
991736234.UG.FTS.B,
29.49%,
1/24/25
..
395
400
991736519.UG.FTS.B,
29.49%,
1/24/25
..
204
205
991738330.UG.FTS.B,
29.49%,
1/24/25
..
115
119
991741387.UG.FTS.B,
29.49%,
1/24/25
..
213
216
991742301.UG.FTS.B,
29.49%,
1/24/25
..
43
43
991742733.UG.FTS.B,
29.49%,
1/24/25
..
77
58
991742865.UG.FTS.B,
29.49%,
1/24/25
..
632
642
991746950.UG.FTS.B,
29.49%,
1/24/25
..
193
196
991758058.UG.FTS.B,
29.49%,
1/24/25
..
882
897
991759873.UG.FTS.B,
29.49%,
1/24/25
..
41
42
991768368.UG.FTS.B,
29.49%,
1/24/25
..
72
74
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
147
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991774946.UG.FTS.B,
29.49%,
1/24/25
..
$
885
$
900
991776695.UG.FTS.B,
29.49%,
1/24/25
..
167
169
991779451.UG.FTS.B,
29.49%,
1/24/25
..
44
43
991781667.UG.FTS.B,
29.49%,
1/24/25
..
97
100
991782230.UG.FTS.B,
29.49%,
1/24/25
..
148
150
991784434.UG.FTS.B,
29.49%,
1/24/25
..
48
49
991784942.UG.FTS.B,
29.49%,
1/24/25
..
71
55
991787292.UG.FTS.B,
29.49%,
1/24/25
..
118
(2)
991787532.UG.FTS.B,
29.49%,
1/24/25
..
18
18
991787620.UG.FTS.B,
29.49%,
1/24/25
..
76
(1)
991788566.UG.FTS.B,
29.49%,
1/24/25
..
114
116
991788656.UG.FTS.B,
29.49%,
1/24/25
..
38
34
991791861.UG.FTS.B,
29.49%,
1/24/25
..
265
270
991795947.UG.FTS.B,
29.49%,
1/24/25
..
65
66
991797472.UG.FTS.B,
29.49%,
1/24/25
..
24
25
991799040.UG.FTS.B,
29.49%,
1/24/25
..
204
207
991799608.UG.FTS.B,
29.49%,
1/24/25
..
0
0
991802616.UG.FTS.B,
29.49%,
1/24/25
..
180
184
991803911.UG.FTS.B,
29.49%,
1/24/25
..
238
33
991804458.UG.FTS.B,
29.49%,
1/24/25
..
–
–
991804599.UG.FTS.B,
29.49%,
1/24/25
..
42
43
991807220.UG.FTS.B,
29.49%,
1/24/25
..
64
65
991817555.UG.FTS.B,
29.49%,
1/24/25
..
26
26
991818233.UG.FTS.B,
29.49%,
1/24/25
..
120
120
991820257.UG.FTS.B,
29.49%,
1/24/25
..
12
12
991821225.UG.FTS.B,
29.49%,
1/24/25
..
–
–
991823070.UG.FTS.B,
29.49%,
1/24/25
..
1,088
1,089
991744460.UG.FTS.B,
29.99%,
1/24/25
..
121
123
991680606.UG.FTS.B,
Zero
Cpn,
1/25/25
.
588
–
991663336.UG.FTS.B,
14.97%,
1/25/25
..
910
577
991722200.UG.FTS.B,
14.98%,
1/25/25
..
345
353
991723338.UG.FTS.B,
14.98%,
1/25/25
..
1,890
1,915
991785631.UG.FTS.B,
14.98%,
1/25/25
..
146
149
991685938.UG.FTS.B,
15.97%,
1/25/25
..
139
142
991691336.UG.FTS.B,
15.97%,
1/25/25
..
16,097
16,472
991719427.UG.FTS.B,
15.97%,
1/25/25
..
325
332
991706579.UG.FTS.B,
16.99%,
1/25/25
..
135
136
991647158.UG.FTS.B,
17.99%,
1/25/25
..
14
14
991708991.UG.FTS.B,
17.99%,
1/25/25
..
2,428
2,481
991730945.UG.FTS.B,
17.99%,
1/25/25
..
51
52
991658411.UG.FTS.B,
18.97%,
1/25/25
..
792
806
991710839.UG.FTS.B,
18.97%,
1/25/25
..
395
397
991749481.UG.FTS.B,
18.97%,
1/25/25
..
681
692
991813671.UG.FTS.B,
18.97%,
1/25/25
..
106
69
991639650.UG.FTS.B,
19.21%,
1/25/25
..
2,933
2,964
991648674.UG.FTS.B,
19.21%,
1/25/25
..
10
10
991667139.UG.FTS.B,
19.21%,
1/25/25
..
427
435
991690379.UG.FTS.B,
19.21%,
1/25/25
..
403
407
991783060.UG.FTS.B,
19.21%,
1/25/25
..
434
440
991811906.UG.FTS.B,
19.46%,
1/25/25
..
149
151
991771874.UG.FTS.B,
19.8%,
1/25/25
...
217
220
991583020.UG.FTS.B,
19.99%,
1/25/25
..
210
217
991596563.UG.FTS.B,
19.99%,
1/25/25
..
281
286
991598409.UG.FTS.B,
19.99%,
1/25/25
..
819
847
991639145.UG.FTS.B,
19.99%,
1/25/25
..
197
204
991639253.UG.FTS.B,
19.99%,
1/25/25
..
81
83
991647962.UG.FTS.B,
19.99%,
1/25/25
..
309
315
991655538.UG.FTS.B,
19.99%,
1/25/25
..
328
334
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991660509.UG.FTS.B,
19.99%,
1/25/25
..
$
194
$
24
991664526.UG.FTS.B,
19.99%,
1/25/25
..
210
15
991671306.UG.FTS.B,
19.99%,
1/25/25
..
135
139
991702336.UG.FTS.B,
19.99%,
1/25/25
..
143
148
991730145.UG.FTS.B,
19.99%,
1/25/25
..
960
991
991733405.UG.FTS.B,
19.99%,
1/25/25
..
132
137
991751611.UG.FTS.B,
19.99%,
1/25/25
..
211
216
991754276.UG.FTS.B,
19.99%,
1/25/25
..
378
385
991768443.UG.FTS.B,
19.99%,
1/25/25
..
34
35
991783018.UG.FTS.B,
19.99%,
1/25/25
..
79
81
991810011.UG.FTS.B,
19.99%,
1/25/25
..
694
708
991811163.UG.FTS.B,
19.99%,
1/25/25
..
2,514
2,550
991647666.UG.FTS.B,
20.46%,
1/25/25
..
6,774
6,857
991701511.UG.FTS.B,
20.46%,
1/25/25
..
1,398
1,415
991659246.UG.FTS.B,
21.46%,
1/25/25
..
149
149
991693560.UG.FTS.B,
21.46%,
1/25/25
..
796
803
991697266.UG.FTS.B,
21.46%,
1/25/25
..
278
281
991702030.UG.FTS.B,
21.46%,
1/25/25
..
1,951
1,982
991709381.UG.FTS.B,
21.46%,
1/25/25
..
163
163
991667459.UG.FTS.B,
21.98%,
1/25/25
..
24
24
991696210.UG.FTS.B,
21.98%,
1/25/25
..
131
9
991699663.UG.FTS.B,
21.98%,
1/25/25
..
126
128
991721907.UG.FTS.B,
21.98%,
1/25/25
..
1,052
1,069
991773306.UG.FTS.B,
21.98%,
1/25/25
..
538
542
991781998.UG.FTS.B,
21.98%,
1/25/25
..
180
181
991643275.UG.FTS.B,
22.97%,
1/25/25
..
2,080
2,112
991717168.UG.FTS.B,
22.97%,
1/25/25
..
3,870
3,897
991728109.UG.FTS.B,
22.97%,
1/25/25
..
336
336
991696083.UG.FTS.B,
23.95%,
1/25/25
..
483
489
991678927.UG.FTS.B,
25.95%,
1/25/25
..
137
137
991589474.UG.FTS.B,
27.99%,
1/25/25
..
970
971
991642707.UG.FTS.B,
27.99%,
1/25/25
..
159
12
991650195.UG.FTS.B,
27.99%,
1/25/25
..
216
223
991676736.UG.FTS.B,
27.99%,
1/25/25
..
83
86
991691761.UG.FTS.B,
27.99%,
1/25/25
..
908
934
991716330.UG.FTS.B,
27.99%,
1/25/25
..
812
108
991824491.UG.FTS.B,
27.99%,
1/25/25
..
1,691
1,722
991583001.UG.FTS.B,
28.98%,
1/25/25
..
0
0
991585948.UG.FTS.B,
28.98%,
1/25/25
..
1,084
1,096
991585964.UG.FTS.B,
28.98%,
1/25/25
..
653
675
991586398.UG.FTS.B,
28.98%,
1/25/25
..
2,525
2,594
991586821.UG.FTS.B,
28.98%,
1/25/25
..
3,133
3,229
991588444.UG.FTS.B,
28.98%,
1/25/25
..
278
287
991590950.UG.FTS.B,
28.98%,
1/25/25
..
731
746
991591061.UG.FTS.B,
28.98%,
1/25/25
..
71
73
991596420.UG.FTS.B,
28.98%,
1/25/25
..
533
543
991597262.UG.FTS.B,
28.98%,
1/25/25
..
308
314
991604576.UG.FTS.B,
28.98%,
1/25/25
..
95
13
991606681.UG.FTS.B,
28.98%,
1/25/25
..
122
121
991606958.UG.FTS.B,
28.98%,
1/25/25
..
257
256
991610850.UG.FTS.B,
28.98%,
1/25/25
..
298
307
991619741.UG.FTS.B,
28.98%,
1/25/25
..
269
278
991628889.UG.FTS.B,
28.98%,
1/25/25
..
37
38
991629059.UG.FTS.B,
28.98%,
1/25/25
..
29
29
991629093.UG.FTS.B,
28.98%,
1/25/25
..
457
472
991630315.UG.FTS.B,
28.98%,
1/25/25
..
369
244
991632477.UG.FTS.B,
28.98%,
1/25/25
..
138
142
991633492.UG.FTS.B,
28.98%,
1/25/25
..
297
297
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
148
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991636211.UG.FTS.B,
28.98%,
1/25/25
..
$
1,061
$
1,079
991638258.UG.FTS.B,
28.98%,
1/25/25
..
0
0
991639961.UG.FTS.B,
28.98%,
1/25/25
..
37
37
991640090.UG.FTS.B,
28.98%,
1/25/25
..
19
19
991643813.UG.FTS.B,
28.98%,
1/25/25
..
312
317
991645264.UG.FTS.B,
28.98%,
1/25/25
..
143
148
991645484.UG.FTS.B,
28.98%,
1/25/25
..
24
24
991645836.UG.FTS.B,
28.98%,
1/25/25
..
207
14
991646347.UG.FTS.B,
28.98%,
1/25/25
..
409
89
991649479.UG.FTS.B,
28.98%,
1/25/25
..
957
988
991652825.UG.FTS.B,
28.98%,
1/25/25
..
58
59
991653559.UG.FTS.B,
28.98%,
1/25/25
..
0
0
991654044.UG.FTS.B,
28.98%,
1/25/25
..
30
30
991654157.UG.FTS.B,
28.98%,
1/25/25
..
90
92
991655781.UG.FTS.B,
28.98%,
1/25/25
..
1,457
(48)
991655910.UG.FTS.B,
28.98%,
1/25/25
..
204
208
991662696.UG.FTS.B,
28.98%,
1/25/25
..
73
75
991663409.UG.FTS.B,
28.98%,
1/25/25
..
42
43
991664838.UG.FTS.B,
28.98%,
1/25/25
..
134
138
991665362.UG.FTS.B,
28.98%,
1/25/25
..
1
1
991665672.UG.FTS.B,
28.98%,
1/25/25
..
876
893
991666507.UG.FTS.B,
28.98%,
1/25/25
..
210
217
991674166.UG.FTS.B,
28.98%,
1/25/25
..
428
441
991680531.UG.FTS.B,
28.98%,
1/25/25
..
33
33
991680544.UG.FTS.B,
28.98%,
1/25/25
..
27
27
991681316.UG.FTS.B,
28.98%,
1/25/25
..
90
90
991684431.UG.FTS.B,
28.98%,
1/25/25
..
377
390
991687378.UG.FTS.B,
28.98%,
1/25/25
..
204
208
991700245.UG.FTS.B,
28.98%,
1/25/25
..
715
729
991700250.UG.FTS.B,
28.98%,
1/25/25
..
347
353
991702318.UG.FTS.B,
28.98%,
1/25/25
..
126
130
991703212.UG.FTS.B,
28.98%,
1/25/25
..
56
56
991706205.UG.FTS.B,
28.98%,
1/25/25
..
82
6
991707057.UG.FTS.B,
28.98%,
1/25/25
..
79
81
991708850.UG.FTS.B,
28.98%,
1/25/25
..
293
297
991711013.UG.FTS.B,
28.98%,
1/25/25
..
478
480
991711184.UG.FTS.B,
28.98%,
1/25/25
..
1,011
657
991711440.UG.FTS.B,
28.98%,
1/25/25
..
81
83
991713337.UG.FTS.B,
28.98%,
1/25/25
..
61
61
991717265.UG.FTS.B,
28.98%,
1/25/25
..
113
115
991721843.UG.FTS.B,
28.98%,
1/25/25
..
3,900
4,021
991739770.UG.FTS.B,
28.98%,
1/25/25
..
208
207
991741956.UG.FTS.B,
28.98%,
1/25/25
..
301
300
991744587.UG.FTS.B,
28.98%,
1/25/25
..
195
201
991751144.UG.FTS.B,
28.98%,
1/25/25
..
288
291
991759069.UG.FTS.B,
28.98%,
1/25/25
..
256
35
991760796.UG.FTS.B,
28.98%,
1/25/25
..
1,334
1,360
991761945.UG.FTS.B,
28.98%,
1/25/25
..
92
(3)
991762497.UG.FTS.B,
28.98%,
1/25/25
..
96
99
991763443.UG.FTS.B,
28.98%,
1/25/25
..
9
9
991764057.UG.FTS.B,
28.98%,
1/25/25
..
82
84
991767844.UG.FTS.B,
28.98%,
1/25/25
..
150
153
991776835.UG.FTS.B,
28.98%,
1/25/25
..
175
178
991782171.UG.FTS.B,
28.98%,
1/25/25
..
48
49
991782809.UG.FTS.B,
28.98%,
1/25/25
..
256
260
991783323.UG.FTS.B,
28.98%,
1/25/25
..
498
502
991789094.UG.FTS.B,
28.98%,
1/25/25
..
133
136
991790856.UG.FTS.B,
28.98%,
1/25/25
..
817
832
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991791903.UG.FTS.B,
28.98%,
1/25/25
..
$
208
$
212
991801025.UG.FTS.B,
28.98%,
1/25/25
..
115
15
991801847.UG.FTS.B,
28.98%,
1/25/25
..
182
186
991801875.UG.FTS.B,
28.98%,
1/25/25
..
160
12
991804347.UG.FTS.B,
28.98%,
1/25/25
..
407
407
991804771.UG.FTS.B,
28.98%,
1/25/25
..
516
522
991805979.UG.FTS.B,
28.98%,
1/25/25
..
40
40
991811893.UG.FTS.B,
28.98%,
1/25/25
..
46
47
991813711.UG.FTS.B,
28.98%,
1/25/25
..
1,314
1,337
991816486.UG.FTS.B,
28.98%,
1/25/25
..
380
387
991825899.UG.FTS.B,
28.98%,
1/25/25
..
338
25
991826324.UG.FTS.B,
28.98%,
1/25/25
..
565
561
991829842.UG.FTS.B,
28.98%,
1/25/25
..
–
–
991831218.UG.FTS.B,
28.98%,
1/25/25
..
6
6
991832332.UG.FTS.B,
28.98%,
1/25/25
..
220
225
991583030.UG.FTS.B,
29.49%,
1/25/25
..
796
799
991583154.UG.FTS.B,
29.49%,
1/25/25
..
662
684
991583347.UG.FTS.B,
29.49%,
1/25/25
..
235
243
991583685.UG.FTS.B,
29.49%,
1/25/25
..
1,138
1,159
991583696.UG.FTS.B,
29.49%,
1/25/25
..
182
185
991584343.UG.FTS.B,
29.49%,
1/25/25
..
2,070
2,098
991584718.UG.FTS.B,
29.49%,
1/25/25
..
1,221
1,253
991584908.UG.FTS.B,
29.49%,
1/25/25
..
2,272
2,348
991584971.UG.FTS.B,
29.49%,
1/25/25
..
165
170
991586459.UG.FTS.B,
29.49%,
1/25/25
..
31
31
991586667.UG.FTS.B,
29.49%,
1/25/25
..
178
184
991586992.UG.FTS.B,
29.49%,
1/25/25
..
106
109
991588105.UG.FTS.B,
29.49%,
1/25/25
..
658
476
991588166.UG.FTS.B,
29.49%,
1/25/25
..
323
333
991588361.UG.FTS.B,
29.49%,
1/25/25
..
30
30
991588873.UG.FTS.B,
29.49%,
1/25/25
..
399
413
991591035.UG.FTS.B,
29.49%,
1/25/25
..
699
701
991591302.UG.FTS.B,
29.49%,
1/25/25
..
870
197
991591360.UG.FTS.B,
29.49%,
1/25/25
..
718
742
991592156.UG.FTS.B,
29.49%,
1/25/25
..
107
108
991592411.UG.FTS.B,
29.49%,
1/25/25
..
112
112
991592874.UG.FTS.B,
29.49%,
1/25/25
..
536
367
991594707.UG.FTS.B,
29.49%,
1/25/25
..
206
212
991595877.UG.FTS.B,
29.49%,
1/25/25
..
212
219
991595953.UG.FTS.B,
29.49%,
1/25/25
..
899
929
991597020.UG.FTS.B,
29.49%,
1/25/25
..
544
553
991597092.UG.FTS.B,
29.49%,
1/25/25
..
238
244
991597703.UG.FTS.B,
29.49%,
1/25/25
..
248
(9)
991598369.UG.FTS.B,
29.49%,
1/25/25
..
203
205
991598825.UG.FTS.B,
29.49%,
1/25/25
..
831
829
991604309.UG.FTS.B,
29.49%,
1/25/25
..
111
113
991607899.UG.FTS.B,
29.49%,
1/25/25
..
36
35
991611906.UG.FTS.B,
29.49%,
1/25/25
..
395
408
991617012.UG.FTS.B,
29.49%,
1/25/25
..
289
298
991625116.UG.FTS.B,
29.49%,
1/25/25
..
1,069
1,101
991630215.UG.FTS.B,
29.49%,
1/25/25
..
30
30
991631036.UG.FTS.B,
29.49%,
1/25/25
..
421
434
991633564.UG.FTS.B,
29.49%,
1/25/25
..
44
44
991634734.UG.FTS.B,
29.49%,
1/25/25
..
109
111
991635396.UG.FTS.B,
29.49%,
1/25/25
..
179
185
991637663.UG.FTS.B,
29.49%,
1/25/25
..
254
262
991638246.UG.FTS.B,
29.49%,
1/25/25
..
152
156
991638937.UG.FTS.B,
29.49%,
1/25/25
..
77
78
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
149
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991639720.UG.FTS.B,
29.49%,
1/25/25
..
$
1,421
$
1,446
991640031.UG.FTS.B,
29.49%,
1/25/25
..
38
38
991640216.UG.FTS.B,
29.49%,
1/25/25
..
547
563
991640235.UG.FTS.B,
29.49%,
1/25/25
..
2,480
1,682
991640515.UG.FTS.B,
29.49%,
1/25/25
..
54
55
991641283.UG.FTS.B,
29.49%,
1/25/25
..
58
59
991641385.UG.FTS.B,
29.49%,
1/25/25
..
1,065
1,095
991641968.UG.FTS.B,
29.49%,
1/25/25
..
167
172
991642393.UG.FTS.B,
29.49%,
1/25/25
..
46
47
991642638.UG.FTS.B,
29.49%,
1/25/25
..
170
115
991642788.UG.FTS.B,
29.49%,
1/25/25
..
130
134
991643136.UG.FTS.B,
29.49%,
1/25/25
..
453
460
991645077.UG.FTS.B,
29.49%,
1/25/25
..
78
80
991645432.UG.FTS.B,
29.49%,
1/25/25
..
107
111
991645478.UG.FTS.B,
29.49%,
1/25/25
..
26
26
991647702.UG.FTS.B,
29.49%,
1/25/25
..
27
4
991647792.UG.FTS.B,
29.49%,
1/25/25
..
115
119
991651364.UG.FTS.B,
29.49%,
1/25/25
..
26
26
991653933.UG.FTS.B,
29.49%,
1/25/25
..
43
43
991655935.UG.FTS.B,
29.49%,
1/25/25
..
1,103
1,117
991656796.UG.FTS.B,
29.49%,
1/25/25
..
380
254
991658814.UG.FTS.B,
29.49%,
1/25/25
..
93
7
991659437.UG.FTS.B,
29.49%,
1/25/25
..
149
153
991659871.UG.FTS.B,
29.49%,
1/25/25
..
13
13
991659953.UG.FTS.B,
29.49%,
1/25/25
..
82
84
991660244.UG.FTS.B,
29.49%,
1/25/25
..
19
19
991660574.UG.FTS.B,
29.49%,
1/25/25
..
58
59
991663537.UG.FTS.B,
29.49%,
1/25/25
..
48
4
991663552.UG.FTS.B,
29.49%,
1/25/25
..
182
189
991666619.UG.FTS.B,
29.49%,
1/25/25
..
33
33
991670639.UG.FTS.B,
29.49%,
1/25/25
..
573
584
991670995.UG.FTS.B,
29.49%,
1/25/25
..
154
159
991675825.UG.FTS.B,
29.49%,
1/25/25
..
62
63
991676449.UG.FTS.B,
29.49%,
1/25/25
..
448
463
991679229.UG.FTS.B,
29.49%,
1/25/25
..
121
125
991679419.UG.FTS.B,
29.49%,
1/25/25
..
513
530
991680840.UG.FTS.B,
29.49%,
1/25/25
..
68
10
991681203.UG.FTS.B,
29.49%,
1/25/25
..
968
994
991684325.UG.FTS.B,
29.49%,
1/25/25
..
19
19
991684401.UG.FTS.B,
29.49%,
1/25/25
..
59
60
991684610.UG.FTS.B,
29.49%,
1/25/25
..
212
143
991686520.UG.FTS.B,
29.49%,
1/25/25
..
428
439
991693307.UG.FTS.B,
29.49%,
1/25/25
..
276
285
991694763.UG.FTS.B,
29.49%,
1/25/25
..
902
914
991695356.UG.FTS.B,
29.49%,
1/25/25
..
338
345
991697889.UG.FTS.B,
29.49%,
1/25/25
..
263
271
991699956.UG.FTS.B,
29.49%,
1/25/25
..
109
112
991700008.UG.FTS.B,
29.49%,
1/25/25
..
24
24
991700911.UG.FTS.B,
29.49%,
1/25/25
..
40
40
991702263.UG.FTS.B,
29.49%,
1/25/25
..
98
(3)
991703126.UG.FTS.B,
29.49%,
1/25/25
..
324
334
991703545.UG.FTS.B,
29.49%,
1/25/25
..
322
325
991704347.UG.FTS.B,
29.49%,
1/25/25
..
5
5
991705543.UG.FTS.B,
29.49%,
1/25/25
..
637
639
991706117.UG.FTS.B,
29.49%,
1/25/25
..
140
144
991706527.UG.FTS.B,
29.49%,
1/25/25
..
287
296
991706986.UG.FTS.B,
29.49%,
1/25/25
..
26
26
991708160.UG.FTS.B,
29.49%,
1/25/25
..
–
–
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991714470.UG.FTS.B,
29.49%,
1/25/25
..
$
480
$
488
991716801.UG.FTS.B,
29.49%,
1/25/25
..
197
199
991717980.UG.FTS.B,
29.49%,
1/25/25
..
311
321
991718230.UG.FTS.B,
29.49%,
1/25/25
..
94
94
991719114.UG.FTS.B,
29.49%,
1/25/25
..
132
131
991719533.UG.FTS.B,
29.49%,
1/25/25
..
65
5
991719643.UG.FTS.B,
29.49%,
1/25/25
..
150
156
991721073.UG.FTS.B,
29.49%,
1/25/25
..
303
312
991721100.UG.FTS.B,
29.49%,
1/25/25
..
310
320
991722230.UG.FTS.B,
29.49%,
1/25/25
..
206
205
991727305.UG.FTS.B,
29.49%,
1/25/25
..
889
917
991727344.UG.FTS.B,
29.49%,
1/25/25
..
199
198
991728108.UG.FTS.B,
29.49%,
1/25/25
..
127
18
991729230.UG.FTS.B,
29.49%,
1/25/25
..
1,665
1,665
991729680.UG.FTS.B,
29.49%,
1/25/25
..
312
21
991730081.UG.FTS.B,
29.49%,
1/25/25
..
533
550
991730401.UG.FTS.B,
29.49%,
1/25/25
..
73
75
991732943.UG.FTS.B,
29.49%,
1/25/25
..
194
195
991733186.UG.FTS.B,
29.49%,
1/25/25
..
555
562
991734934.UG.FTS.B,
29.49%,
1/25/25
..
340
338
991735159.UG.FTS.B,
29.49%,
1/25/25
..
4
4
991735215.UG.FTS.B,
29.49%,
1/25/25
..
148
149
991737501.UG.FTS.B,
29.49%,
1/25/25
..
224
231
991742424.UG.FTS.B,
29.49%,
1/25/25
..
660
50
991742587.UG.FTS.B,
29.49%,
1/25/25
..
78
80
991742823.UG.FTS.B,
29.49%,
1/25/25
..
438
442
991744513.UG.FTS.B,
29.49%,
1/25/25
..
49
49
991746419.UG.FTS.B,
29.49%,
1/25/25
..
295
40
991750890.UG.FTS.B,
29.49%,
1/25/25
..
241
244
991754317.UG.FTS.B,
29.49%,
1/25/25
..
43
43
991756609.UG.FTS.B,
29.49%,
1/25/25
..
632
640
991758553.UG.FTS.B,
29.49%,
1/25/25
..
210
212
991759900.UG.FTS.B,
29.49%,
1/25/25
..
262
265
991762455.UG.FTS.B,
29.49%,
1/25/25
..
1,550
1,570
991764053.UG.FTS.B,
29.49%,
1/25/25
..
299
304
991765575.UG.FTS.B,
29.49%,
1/25/25
..
–
–
991768411.UG.FTS.B,
29.49%,
1/25/25
..
40
40
991772741.UG.FTS.B,
29.49%,
1/25/25
..
55
55
991773006.UG.FTS.B,
29.49%,
1/25/25
..
550
556
991777926.UG.FTS.B,
29.49%,
1/25/25
..
110
112
991778023.UG.FTS.B,
29.49%,
1/25/25
..
114
116
991778333.UG.FTS.B,
29.49%,
1/25/25
..
5
5
991779723.UG.FTS.B,
29.49%,
1/25/25
..
71
73
991781861.UG.FTS.B,
29.49%,
1/25/25
..
798
810
991783032.UG.FTS.B,
29.49%,
1/25/25
..
219
223
991783087.UG.FTS.B,
29.49%,
1/25/25
..
389
396
991783334.UG.FTS.B,
29.49%,
1/25/25
..
81
83
991783420.UG.FTS.B,
29.49%,
1/25/25
..
119
121
991783815.UG.FTS.B,
29.49%,
1/25/25
..
177
179
991784811.UG.FTS.B,
29.49%,
1/25/25
..
–
0
991787734.UG.FTS.B,
29.49%,
1/25/25
..
575
585
991788573.UG.FTS.B,
29.49%,
1/25/25
..
222
225
991789248.UG.FTS.B,
29.49%,
1/25/25
..
170
173
991789795.UG.FTS.B,
29.49%,
1/25/25
..
384
388
991790037.UG.FTS.B,
29.49%,
1/25/25
..
163
36
991790746.UG.FTS.B,
29.49%,
1/25/25
..
121
123
991792086.UG.FTS.B,
29.49%,
1/25/25
..
1,503
1,517
991792282.UG.FTS.B,
29.49%,
1/25/25
..
442
450
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
150
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991795623.UG.FTS.B,
29.49%,
1/25/25
..
$
40
$
40
991796444.UG.FTS.B,
29.49%,
1/25/25
..
68
69
991798150.UG.FTS.B,
29.49%,
1/25/25
..
811
823
991798152.UG.FTS.B,
29.49%,
1/25/25
..
62
63
991798398.UG.FTS.B,
29.49%,
1/25/25
..
99
102
991800376.UG.FTS.B,
29.49%,
1/25/25
..
549
557
991801570.UG.FTS.B,
29.49%,
1/25/25
..
911
923
991803714.UG.FTS.B,
29.49%,
1/25/25
..
168
171
991809008.UG.FTS.B,
29.49%,
1/25/25
..
90
89
991811394.UG.FTS.B,
29.49%,
1/25/25
..
166
170
991812847.UG.FTS.B,
29.49%,
1/25/25
..
90
93
991813221.UG.FTS.B,
29.49%,
1/25/25
..
158
160
991813928.UG.FTS.B,
29.49%,
1/25/25
..
165
109
991814046.UG.FTS.B,
29.49%,
1/25/25
..
43
44
991819908.UG.FTS.B,
29.49%,
1/25/25
..
170
114
991820086.UG.FTS.B,
29.49%,
1/25/25
..
11
11
991822276.UG.FTS.B,
29.49%,
1/25/25
..
233
236
991824971.UG.FTS.B,
29.49%,
1/25/25
..
33
33
991828099.UG.FTS.B,
29.49%,
1/25/25
..
17
17
991828430.UG.FTS.B,
29.49%,
1/25/25
..
269
19
991829201.UG.FTS.B,
29.49%,
1/25/25
..
2,297
311
991831947.UG.FTS.B,
29.49%,
1/25/25
..
92
95
991764505.UG.FTS.B,
29.99%,
1/25/25
..
35
36
991666350.UG.FTS.B,
Zero
Cpn,
1/26/25
.
141
–
991791858.UG.FTS.B,
Zero
Cpn,
1/26/25
.
112
–
991799314.UG.FTS.B,
Zero
Cpn,
1/26/25
.
81
–
991705574.UG.FTS.B,
14.98%,
1/26/25
..
678
693
991763100.UG.FTS.B,
15%,
1/26/25
.....
56
56
991844506.UG.FTS.B,
15.97%,
1/26/25
..
2,582
2,631
991588990.UG.FTS.B,
16.99%,
1/26/25
..
2,078
2,121
991594194.UG.FTS.B,
16.99%,
1/26/25
..
7
7
991662447.UG.FTS.B,
16.99%,
1/26/25
..
174
175
991666502.UG.FTS.B,
16.99%,
1/26/25
..
564
349
991739565.UG.FTS.B,
16.99%,
1/26/25
..
6,069
6,206
991631242.UG.FTS.B,
17.99%,
1/26/25
..
568
580
991635395.UG.FTS.B,
17.99%,
1/26/25
..
690
705
991730063.UG.FTS.B,
17.99%,
1/26/25
..
3,477
3,554
991787242.UG.FTS.B,
17.99%,
1/26/25
..
1,405
107
991806807.UG.FTS.B,
17.99%,
1/26/25
..
550
559
991630337.UG.FTS.B,
18.97%,
1/26/25
..
112
114
991639126.UG.FTS.B,
18.97%,
1/26/25
..
194
197
991792817.UG.FTS.B,
18.97%,
1/26/25
..
862
876
991629418.UG.FTS.B,
19.21%,
1/26/25
..
839
528
991638998.UG.FTS.B,
19.21%,
1/26/25
..
66
66
991650331.UG.FTS.B,
19.21%,
1/26/25
..
30
27
991706919.UG.FTS.B,
19.21%,
1/26/25
..
114
116
991791869.UG.FTS.B,
19.21%,
1/26/25
..
260
264
991693301.UG.FTS.B,
19.8%,
1/26/25
...
212
216
991594697.UG.FTS.B,
19.99%,
1/26/25
..
352
364
991623713.UG.FTS.B,
19.99%,
1/26/25
..
956
955
991664112.UG.FTS.B,
19.99%,
1/26/25
..
938
955
991666842.UG.FTS.B,
19.99%,
1/26/25
..
669
690
991684874.UG.FTS.B,
19.99%,
1/26/25
..
150
152
991686652.UG.FTS.B,
19.99%,
1/26/25
..
299
1
991687274.UG.FTS.B,
19.99%,
1/26/25
..
254
259
991712940.UG.FTS.B,
19.99%,
1/26/25
..
24
24
991721988.UG.FTS.B,
19.99%,
1/26/25
..
94
0
991725855.UG.FTS.B,
19.99%,
1/26/25
..
407
412
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991726295.UG.FTS.B,
19.99%,
1/26/25
..
$
1,113
$
1,128
991747371.UG.FTS.B,
19.99%,
1/26/25
..
266
275
991753153.UG.FTS.B,
19.99%,
1/26/25
..
72
74
991815429.UG.FTS.B,
19.99%,
1/26/25
..
845
861
991818136.UG.FTS.B,
19.99%,
1/26/25
..
175
178
991679000.UG.FTS.B,
20.46%,
1/26/25
..
877
893
991722451.UG.FTS.B,
20.46%,
1/26/25
..
830
846
991691649.UG.FTS.B,
20.97%,
1/26/25
..
659
666
991689234.UG.FTS.B,
21.46%,
1/26/25
..
209
212
991804044.UG.FTS.B,
21.46%,
1/26/25
..
62
63
991683377.UG.FTS.B,
21.97%,
1/26/25
..
205
208
991690970.UG.FTS.B,
21.98%,
1/26/25
..
1,319
1,340
991718023.UG.FTS.B,
22.97%,
1/26/25
..
1,318
1,338
991774735.UG.FTS.B,
22.97%,
1/26/25
..
1,342
(14)
991792398.UG.FTS.B,
22.97%,
1/26/25
..
174
175
991634009.UG.FTS.B,
23.95%,
1/26/25
..
130
131
991661911.UG.FTS.B,
23.95%,
1/26/25
..
786
796
991671848.UG.FTS.B,
23.95%,
1/26/25
..
27
27
991719060.UG.FTS.B,
23.95%,
1/26/25
..
3,081
3,123
991722234.UG.FTS.B,
23.95%,
1/26/25
..
669
7
991812444.UG.FTS.B,
23.95%,
1/26/25
..
733
94
991662693.UG.FTS.B,
24.95%,
1/26/25
..
82
83
991655277.UG.FTS.B,
25.95%,
1/26/25
..
205
206
991702170.UG.FTS.B,
26.94%,
1/26/25
..
218
220
991629535.UG.FTS.B,
27.99%,
1/26/25
..
18
3
991637426.UG.FTS.B,
27.99%,
1/26/25
..
53
54
991644445.UG.FTS.B,
27.99%,
1/26/25
..
120
124
991662668.UG.FTS.B,
27.99%,
1/26/25
..
318
328
991665705.UG.FTS.B,
27.99%,
1/26/25
..
147
152
991799474.UG.FTS.B,
27.99%,
1/26/25
..
472
480
991589081.UG.FTS.B,
28.98%,
1/26/25
..
321
330
991590920.UG.FTS.B,
28.98%,
1/26/25
..
17
17
991592909.UG.FTS.B,
28.98%,
1/26/25
..
296
305
991593236.UG.FTS.B,
28.98%,
1/26/25
..
314
317
991593526.UG.FTS.B,
28.98%,
1/26/25
..
280
289
991593781.UG.FTS.B,
28.98%,
1/26/25
..
149
154
991594391.UG.FTS.B,
28.98%,
1/26/25
..
233
240
991598258.UG.FTS.B,
28.98%,
1/26/25
..
259
18
991602284.UG.FTS.B,
28.98%,
1/26/25
..
2,062
2,085
991604693.UG.FTS.B,
28.98%,
1/26/25
..
1,213
(44)
991604950.UG.FTS.B,
28.98%,
1/26/25
..
138
143
991607010.UG.FTS.B,
28.98%,
1/26/25
..
488
485
991611008.UG.FTS.B,
28.98%,
1/26/25
..
538
553
991611456.UG.FTS.B,
28.98%,
1/26/25
..
73
73
991618996.UG.FTS.B,
28.98%,
1/26/25
..
93
93
991629035.UG.FTS.B,
28.98%,
1/26/25
..
223
230
991634636.UG.FTS.B,
28.98%,
1/26/25
..
471
486
991636455.UG.FTS.B,
28.98%,
1/26/25
..
119
121
991638710.UG.FTS.B,
28.98%,
1/26/25
..
239
246
991638977.UG.FTS.B,
28.98%,
1/26/25
..
310
315
991641894.UG.FTS.B,
28.98%,
1/26/25
..
165
169
991653899.UG.FTS.B,
28.98%,
1/26/25
..
120
124
991656180.UG.FTS.B,
28.98%,
1/26/25
..
268
277
991658925.UG.FTS.B,
28.98%,
1/26/25
..
201
206
991660853.UG.FTS.B,
28.98%,
1/26/25
..
54
53
991661348.UG.FTS.B,
28.98%,
1/26/25
..
1,255
1,290
991661921.UG.FTS.B,
28.98%,
1/26/25
..
187
186
991662390.UG.FTS.B,
28.98%,
1/26/25
..
215
221
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
151
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991663166.UG.FTS.B,
28.98%,
1/26/25
..
$
14
$
14
991663523.UG.FTS.B,
28.98%,
1/26/25
..
28
28
991664416.UG.FTS.B,
28.98%,
1/26/25
..
391
399
991665591.UG.FTS.B,
28.98%,
1/26/25
..
1,341
1,385
991665770.UG.FTS.B,
28.98%,
1/26/25
..
900
194
991665929.UG.FTS.B,
28.98%,
1/26/25
..
84
87
991668688.UG.FTS.B,
28.98%,
1/26/25
..
602
621
991676711.UG.FTS.B,
28.98%,
1/26/25
..
542
549
991678461.UG.FTS.B,
28.98%,
1/26/25
..
179
182
991682612.UG.FTS.B,
28.98%,
1/26/25
..
893
911
991685049.UG.FTS.B,
28.98%,
1/26/25
..
93
95
991686492.UG.FTS.B,
28.98%,
1/26/25
..
41
42
991688671.UG.FTS.B,
28.98%,
1/26/25
..
259
264
991698131.UG.FTS.B,
28.98%,
1/26/25
..
574
572
991701049.UG.FTS.B,
28.98%,
1/26/25
..
351
352
991701435.UG.FTS.B,
28.98%,
1/26/25
..
298
308
991702578.UG.FTS.B,
28.98%,
1/26/25
..
44
45
991703821.UG.FTS.B,
28.98%,
1/26/25
..
220
227
991707561.UG.FTS.B,
28.98%,
1/26/25
..
289
290
991711212.UG.FTS.B,
28.98%,
1/26/25
..
95
98
991716060.UG.FTS.B,
28.98%,
1/26/25
..
1,013
1,046
991718057.UG.FTS.B,
28.98%,
1/26/25
..
995
1,016
991743995.UG.FTS.B,
28.98%,
1/26/25
..
226
230
991745922.UG.FTS.B,
28.98%,
1/26/25
..
128
128
991747643.UG.FTS.B,
28.98%,
1/26/25
..
112
114
991748077.UG.FTS.B,
28.98%,
1/26/25
..
76
78
991750713.UG.FTS.B,
28.98%,
1/26/25
..
69
70
991750931.UG.FTS.B,
28.98%,
1/26/25
..
135
(4)
991753802.UG.FTS.B,
28.98%,
1/26/25
..
202
203
991759756.UG.FTS.B,
28.98%,
1/26/25
..
98
99
991764630.UG.FTS.B,
28.98%,
1/26/25
..
80
82
991774958.UG.FTS.B,
28.98%,
1/26/25
..
36
6
991778410.UG.FTS.B,
28.98%,
1/26/25
..
44
44
991779766.UG.FTS.B,
28.98%,
1/26/25
..
312
314
991781688.UG.FTS.B,
28.98%,
1/26/25
..
41
42
991783517.UG.FTS.B,
28.98%,
1/26/25
..
220
47
991784008.UG.FTS.B,
28.98%,
1/26/25
..
5,410
5,515
991788301.UG.FTS.B,
28.98%,
1/26/25
..
311
317
991788973.UG.FTS.B,
28.98%,
1/26/25
..
450
458
991792397.UG.FTS.B,
28.98%,
1/26/25
..
1,834
1,827
991803660.UG.FTS.B,
28.98%,
1/26/25
..
6
6
991804080.UG.FTS.B,
28.98%,
1/26/25
..
123
125
991805176.UG.FTS.B,
28.98%,
1/26/25
..
10
10
991808600.UG.FTS.B,
28.98%,
1/26/25
..
314
314
991808749.UG.FTS.B,
28.98%,
1/26/25
..
60
61
991817075.UG.FTS.B,
28.98%,
1/26/25
..
234
235
991818761.UG.FTS.B,
28.98%,
1/26/25
..
152
154
991820024.UG.FTS.B,
28.98%,
1/26/25
..
180
(8)
991820446.UG.FTS.B,
28.98%,
1/26/25
..
139
142
991822639.UG.FTS.B,
28.98%,
1/26/25
..
36
36
991823991.UG.FTS.B,
28.98%,
1/26/25
..
65
66
991826236.UG.FTS.B,
28.98%,
1/26/25
..
729
743
991826545.UG.FTS.B,
28.98%,
1/26/25
..
23
23
991828591.UG.FTS.B,
28.98%,
1/26/25
..
44
45
991828828.UG.FTS.B,
28.98%,
1/26/25
..
3
3
991831863.UG.FTS.B,
28.98%,
1/26/25
..
591
599
991833990.UG.FTS.B,
28.98%,
1/26/25
..
440
448
991834277.UG.FTS.B,
28.98%,
1/26/25
..
440
449
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991834362.UG.FTS.B,
28.98%,
1/26/25
..
$
388
$
395
991834597.UG.FTS.B,
28.98%,
1/26/25
..
3,829
3,902
991835056.UG.FTS.B,
28.98%,
1/26/25
..
3,945
4,019
991603387.UG.FTS.B,
29.45%,
1/26/25
..
356
354
991628939.UG.FTS.B,
29.45%,
1/26/25
..
25
25
991671164.UG.FTS.B,
29.45%,
1/26/25
..
31
31
991712881.UG.FTS.B,
29.46%,
1/26/25
..
694
716
991588896.UG.FTS.B,
29.49%,
1/26/25
..
545
562
991589080.UG.FTS.B,
29.49%,
1/26/25
..
521
528
991589676.UG.FTS.B,
29.49%,
1/26/25
..
1,054
1,089
991589741.UG.FTS.B,
29.49%,
1/26/25
..
98
101
991589757.UG.FTS.B,
29.49%,
1/26/25
..
449
448
991589763.UG.FTS.B,
29.49%,
1/26/25
..
203
209
991591083.UG.FTS.B,
29.49%,
1/26/25
..
346
355
991591418.UG.FTS.B,
29.49%,
1/26/25
..
378
388
991592122.UG.FTS.B,
29.49%,
1/26/25
..
406
420
991592192.UG.FTS.B,
29.49%,
1/26/25
..
202
209
991594206.UG.FTS.B,
29.49%,
1/26/25
..
15
15
991594647.UG.FTS.B,
29.49%,
1/26/25
..
143
144
991596813.UG.FTS.B,
29.49%,
1/26/25
..
39
39
991598816.UG.FTS.B,
29.49%,
1/26/25
..
176
181
991606181.UG.FTS.B,
29.49%,
1/26/25
..
323
331
991607097.UG.FTS.B,
29.49%,
1/26/25
..
373
382
991607495.UG.FTS.B,
29.49%,
1/26/25
..
1,874
(58)
991611773.UG.FTS.B,
29.49%,
1/26/25
..
175
24
991612147.UG.FTS.B,
29.49%,
1/26/25
..
116
120
991613744.UG.FTS.B,
29.49%,
1/26/25
..
231
235
991614201.UG.FTS.B,
29.49%,
1/26/25
..
46
47
991615222.UG.FTS.B,
29.49%,
1/26/25
..
51
50
991616010.UG.FTS.B,
29.49%,
1/26/25
..
1,509
1,559
991616526.UG.FTS.B,
29.49%,
1/26/25
..
217
224
991616810.UG.FTS.B,
29.49%,
1/26/25
..
478
493
991622618.UG.FTS.B,
29.49%,
1/26/25
..
220
225
991629066.UG.FTS.B,
29.49%,
1/26/25
..
35
35
991629685.UG.FTS.B,
29.49%,
1/26/25
..
65
66
991630176.UG.FTS.B,
29.49%,
1/26/25
..
251
249
991631883.UG.FTS.B,
29.49%,
1/26/25
..
235
242
991635157.UG.FTS.B,
29.49%,
1/26/25
..
166
11
991635627.UG.FTS.B,
29.49%,
1/26/25
..
193
199
991637203.UG.FTS.B,
29.49%,
1/26/25
..
241
249
991637588.UG.FTS.B,
29.49%,
1/26/25
..
474
484
991637756.UG.FTS.B,
29.49%,
1/26/25
..
1,426
1,443
991638709.UG.FTS.B,
29.49%,
1/26/25
..
187
192
991638773.UG.FTS.B,
29.49%,
1/26/25
..
57
4
991640409.UG.FTS.B,
29.49%,
1/26/25
..
138
142
991640808.UG.FTS.B,
29.49%,
1/26/25
..
446
61
991641553.UG.FTS.B,
29.49%,
1/26/25
..
164
169
991642753.UG.FTS.B,
29.49%,
1/26/25
..
57
58
991642902.UG.FTS.B,
29.49%,
1/26/25
..
20
20
991643392.UG.FTS.B,
29.49%,
1/26/25
..
0
0
991644594.UG.FTS.B,
29.49%,
1/26/25
..
403
417
991644850.UG.FTS.B,
29.49%,
1/26/25
..
356
367
991645076.UG.FTS.B,
29.49%,
1/26/25
..
42
42
991645315.UG.FTS.B,
29.49%,
1/26/25
..
107
109
991645424.UG.FTS.B,
29.49%,
1/26/25
..
166
172
991647827.UG.FTS.B,
29.49%,
1/26/25
..
148
150
991649950.UG.FTS.B,
29.49%,
1/26/25
..
211
217
991650260.UG.FTS.B,
29.49%,
1/26/25
..
1,091
1,126
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
152
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991653296.UG.FTS.B,
29.49%,
1/26/25
..
$
12
$
12
991656366.UG.FTS.B,
29.49%,
1/26/25
..
383
262
991656936.UG.FTS.B,
29.49%,
1/26/25
..
259
257
991657417.UG.FTS.B,
29.49%,
1/26/25
..
2,565
2,647
991659414.UG.FTS.B,
29.49%,
1/26/25
..
191
193
991662234.UG.FTS.B,
29.49%,
1/26/25
..
146
151
991663167.UG.FTS.B,
29.49%,
1/26/25
..
57
56
991663623.UG.FTS.B,
29.49%,
1/26/25
..
155
161
991663670.UG.FTS.B,
29.49%,
1/26/25
..
113
116
991663804.UG.FTS.B,
29.49%,
1/26/25
..
1,424
1,434
991664371.UG.FTS.B,
29.49%,
1/26/25
..
417
421
991665870.UG.FTS.B,
29.49%,
1/26/25
..
122
122
991668133.UG.FTS.B,
29.49%,
1/26/25
..
135
138
991668328.UG.FTS.B,
29.49%,
1/26/25
..
129
132
991669118.UG.FTS.B,
29.49%,
1/26/25
..
9
9
991669892.UG.FTS.B,
29.49%,
1/26/25
..
129
130
991670459.UG.FTS.B,
29.49%,
1/26/25
..
473
488
991671099.UG.FTS.B,
29.49%,
1/26/25
..
352
48
991673737.UG.FTS.B,
29.49%,
1/26/25
..
4,290
4,430
991674155.UG.FTS.B,
29.49%,
1/26/25
..
183
25
991674354.UG.FTS.B,
29.49%,
1/26/25
..
1
1
991674552.UG.FTS.B,
29.49%,
1/26/25
..
254
262
991676362.UG.FTS.B,
29.49%,
1/26/25
..
104
103
991676951.UG.FTS.B,
29.49%,
1/26/25
..
142
19
991677158.UG.FTS.B,
29.49%,
1/26/25
..
249
257
991678960.UG.FTS.B,
29.49%,
1/26/25
..
103
103
991679458.UG.FTS.B,
29.49%,
1/26/25
..
322
324
991680335.UG.FTS.B,
29.49%,
1/26/25
..
1,805
1,804
991682957.UG.FTS.B,
29.49%,
1/26/25
..
1,162
1,200
991683363.UG.FTS.B,
29.49%,
1/26/25
..
412
28
991683869.UG.FTS.B,
29.49%,
1/26/25
..
33
33
991686193.UG.FTS.B,
29.49%,
1/26/25
..
69
55
991686518.UG.FTS.B,
29.49%,
1/26/25
..
260
263
991686747.UG.FTS.B,
29.49%,
1/26/25
..
46
46
991686882.UG.FTS.B,
29.49%,
1/26/25
..
325
336
991686956.UG.FTS.B,
29.49%,
1/26/25
..
164
11
991688295.UG.FTS.B,
29.49%,
1/26/25
..
112
116
991688387.UG.FTS.B,
29.49%,
1/26/25
..
1,002
1,027
991695029.UG.FTS.B,
29.49%,
1/26/25
..
74
75
991695946.UG.FTS.B,
29.49%,
1/26/25
..
575
585
991696562.UG.FTS.B,
29.49%,
1/26/25
..
50
42
991698577.UG.FTS.B,
29.49%,
1/26/25
..
524
529
991703021.UG.FTS.B,
29.49%,
1/26/25
..
54
54
991704585.UG.FTS.B,
29.49%,
1/26/25
..
288
292
991707041.UG.FTS.B,
29.49%,
1/26/25
..
96
99
991710350.UG.FTS.B,
29.49%,
1/26/25
..
74
57
991710670.UG.FTS.B,
29.49%,
1/26/25
..
543
560
991711068.UG.FTS.B,
29.49%,
1/26/25
..
87
90
991714720.UG.FTS.B,
29.49%,
1/26/25
..
647
659
991714874.UG.FTS.B,
29.49%,
1/26/25
..
0
0
991722546.UG.FTS.B,
29.49%,
1/26/25
..
47
48
991727706.UG.FTS.B,
29.49%,
1/26/25
..
41
7
991727832.UG.FTS.B,
29.49%,
1/26/25
..
304
313
991730690.UG.FTS.B,
29.49%,
1/26/25
..
2,476
188
991731015.UG.FTS.B,
29.49%,
1/26/25
..
84
62
991742213.UG.FTS.B,
29.49%,
1/26/25
..
1,393
1,438
991742808.UG.FTS.B,
29.49%,
1/26/25
..
515
518
991744262.UG.FTS.B,
29.49%,
1/26/25
..
72
57
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991747285.UG.FTS.B,
29.49%,
1/26/25
..
$
28
$
28
991748382.UG.FTS.B,
29.49%,
1/26/25
..
622
642
991749224.UG.FTS.B,
29.49%,
1/26/25
..
109
112
991756106.UG.FTS.B,
29.49%,
1/26/25
..
208
215
991757929.UG.FTS.B,
29.49%,
1/26/25
..
63
10
991766090.UG.FTS.B,
29.49%,
1/26/25
..
25
25
991771654.UG.FTS.B,
29.49%,
1/26/25
..
1,000
224
991772896.UG.FTS.B,
29.49%,
1/26/25
..
2,650
2,697
991775324.UG.FTS.B,
29.49%,
1/26/25
..
570
576
991777453.UG.FTS.B,
29.49%,
1/26/25
..
45
46
991779497.UG.FTS.B,
29.49%,
1/26/25
..
347
353
991782801.UG.FTS.B,
29.49%,
1/26/25
..
2,586
2,622
991783902.UG.FTS.B,
29.49%,
1/26/25
..
294
298
991784217.UG.FTS.B,
29.49%,
1/26/25
..
95
66
991784518.UG.FTS.B,
29.49%,
1/26/25
..
977
994
991791204.UG.FTS.B,
29.49%,
1/26/25
..
107
109
991791950.UG.FTS.B,
29.49%,
1/26/25
..
679
691
991793797.UG.FTS.B,
29.49%,
1/26/25
..
272
274
991795404.UG.FTS.B,
29.49%,
1/26/25
..
138
9
991798670.UG.FTS.B,
29.49%,
1/26/25
..
–
–
991801746.UG.FTS.B,
29.49%,
1/26/25
..
487
495
991804476.UG.FTS.B,
29.49%,
1/26/25
..
113
114
991806530.UG.FTS.B,
29.49%,
1/26/25
..
175
178
991817678.UG.FTS.B,
29.49%,
1/26/25
..
203
203
991817875.UG.FTS.B,
29.49%,
1/26/25
..
97
(3)
991820442.UG.FTS.B,
29.49%,
1/26/25
..
148
150
991823773.UG.FTS.B,
29.49%,
1/26/25
..
10
10
991824166.UG.FTS.B,
29.49%,
1/26/25
..
227
17
991824900.UG.FTS.B,
29.49%,
1/26/25
..
81
82
991825508.UG.FTS.B,
29.49%,
1/26/25
..
47
47
991826343.UG.FTS.B,
29.49%,
1/26/25
..
638
650
991827132.UG.FTS.B,
29.49%,
1/26/25
..
133
135
991828521.UG.FTS.B,
29.49%,
1/26/25
..
35
35
991829394.UG.FTS.B,
29.49%,
1/26/25
..
1,791
1,793
991832099.UG.FTS.B,
29.49%,
1/26/25
..
74
76
991835725.UG.FTS.B,
29.49%,
1/26/25
..
1,498
1,524
991835985.UG.FTS.B,
29.49%,
1/26/25
..
1,410
1,432
991836703.UG.FTS.B,
29.49%,
1/26/25
..
101
102
991836743.UG.FTS.B,
29.49%,
1/26/25
..
89
91
991607358.UG.FTS.B,
Zero
Cpn,
1/27/25
.
52
–
991608738.UG.FTS.B,
Zero
Cpn,
1/27/25
.
103
–
991608840.UG.FTS.B,
Zero
Cpn,
1/27/25
.
65
–
991624480.UG.FTS.B,
Zero
Cpn,
1/27/25
.
171
–
991626406.UG.FTS.B,
Zero
Cpn,
1/27/25
.
150
–
991627673.UG.FTS.B,
Zero
Cpn,
1/27/25
.
41
–
991663633.UG.FTS.B,
Zero
Cpn,
1/27/25
.
26
–
991673173.UG.FTS.B,
Zero
Cpn,
1/27/25
.
67
–
991649409.UG.FTS.B,
14.98%,
1/27/25
..
853
874
991681455.UG.FTS.B,
15%,
1/27/25
.....
733
746
991594447.UG.FTS.B,
16.99%,
1/27/25
..
5,888
5,997
991653237.UG.FTS.B,
16.99%,
1/27/25
..
388
395
991653768.UG.FTS.B,
16.99%,
1/27/25
..
202
207
991630296.UG.FTS.B,
18.97%,
1/27/25
..
217
17
991594369.UG.FTS.B,
19.99%,
1/27/25
..
311
316
991595612.UG.FTS.B,
19.99%,
1/27/25
..
48
49
991603461.UG.FTS.B,
19.99%,
1/27/25
..
727
753
991604169.UG.FTS.B,
19.99%,
1/27/25
..
27
2
991604490.UG.FTS.B,
19.99%,
1/27/25
..
167
172
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
153
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991604987.UG.FTS.B,
19.99%,
1/27/25
..
$
353
$
365
991606626.UG.FTS.B,
19.99%,
1/27/25
..
351
364
991606748.UG.FTS.B,
19.99%,
1/27/25
..
237
242
991607069.UG.FTS.B,
19.99%,
1/27/25
..
–
–
991610646.UG.FTS.B,
19.99%,
1/27/25
..
181
188
991613039.UG.FTS.B,
19.99%,
1/27/25
..
744
769
991613609.UG.FTS.B,
19.99%,
1/27/25
..
189
193
991616276.UG.FTS.B,
19.99%,
1/27/25
..
306
317
991622510.UG.FTS.B,
19.99%,
1/27/25
..
62
64
991629277.UG.FTS.B,
19.99%,
1/27/25
..
59
60
991630205.UG.FTS.B,
19.99%,
1/27/25
..
46
4
991634123.UG.FTS.B,
19.99%,
1/27/25
..
1,473
994
991639649.UG.FTS.B,
19.99%,
1/27/25
..
1,727
1,157
991653534.UG.FTS.B,
19.99%,
1/27/25
..
183
189
991656462.UG.FTS.B,
19.99%,
1/27/25
..
148
153
991665857.UG.FTS.B,
19.99%,
1/27/25
..
214
221
991670504.UG.FTS.B,
19.99%,
1/27/25
..
121
121
991679362.UG.FTS.B,
19.99%,
1/27/25
..
84
86
991687385.UG.FTS.B,
19.99%,
1/27/25
..
277
286
991734391.UG.FTS.B,
19.99%,
1/27/25
..
53
54
991740576.UG.FTS.B,
19.99%,
1/27/25
..
436
451
991742004.UG.FTS.B,
19.99%,
1/27/25
..
90
93
991787817.UG.FTS.B,
19.99%,
1/27/25
..
139
142
991790958.UG.FTS.B,
19.99%,
1/27/25
..
32
28
991836470.UG.FTS.B,
19.99%,
1/27/25
..
148
150
991611207.UG.FTS.B,
22.95%,
1/27/25
..
809
812
991666052.UG.FTS.B,
25.98%,
1/27/25
..
100
69
991599071.UG.FTS.B,
26.49%,
1/27/25
..
341
351
991620473.UG.FTS.B,
27.95%,
1/27/25
..
226
18
991593388.UG.FTS.B,
27.99%,
1/27/25
..
91
93
991598032.UG.FTS.B,
27.99%,
1/27/25
..
224
230
991612981.UG.FTS.B,
27.99%,
1/27/25
..
36
37
991629247.UG.FTS.B,
27.99%,
1/27/25
..
219
223
991629950.UG.FTS.B,
27.99%,
1/27/25
..
33
29
991784579.UG.FTS.B,
27.99%,
1/27/25
..
73
74
991809385.UG.FTS.B,
27.99%,
1/27/25
..
75
6
991593683.UG.FTS.B,
28.98%,
1/27/25
..
21
21
991593724.UG.FTS.B,
28.98%,
1/27/25
..
454
454
991594281.UG.FTS.B,
28.98%,
1/27/25
..
481
479
991594298.UG.FTS.B,
28.98%,
1/27/25
..
228
229
991594312.UG.FTS.B,
28.98%,
1/27/25
..
596
608
991594818.UG.FTS.B,
28.98%,
1/27/25
..
211
31
991594933.UG.FTS.B,
28.98%,
1/27/25
..
1,483
1,521
991594966.UG.FTS.B,
28.98%,
1/27/25
..
69
70
991595331.UG.FTS.B,
28.98%,
1/27/25
..
84
85
991595486.UG.FTS.B,
28.98%,
1/27/25
..
1,452
111
991595661.UG.FTS.B,
28.98%,
1/27/25
..
49
50
991595696.UG.FTS.B,
28.98%,
1/27/25
..
85
87
991596135.UG.FTS.B,
28.98%,
1/27/25
..
68
69
991596423.UG.FTS.B,
28.98%,
1/27/25
..
1,171
1,202
991596472.UG.FTS.B,
28.98%,
1/27/25
..
386
397
991596874.UG.FTS.B,
28.98%,
1/27/25
..
217
224
991596979.UG.FTS.B,
28.98%,
1/27/25
..
844
862
991597253.UG.FTS.B,
28.98%,
1/27/25
..
65
66
991597711.UG.FTS.B,
28.98%,
1/27/25
..
165
171
991597724.UG.FTS.B,
28.98%,
1/27/25
..
52
53
991597802.UG.FTS.B,
28.98%,
1/27/25
..
23
23
991597854.UG.FTS.B,
28.98%,
1/27/25
..
467
36
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991598054.UG.FTS.B,
28.98%,
1/27/25
..
$
462
$
462
991598602.UG.FTS.B,
28.98%,
1/27/25
..
185
192
991598783.UG.FTS.B,
28.98%,
1/27/25
..
1,198
1,228
991599313.UG.FTS.B,
28.98%,
1/27/25
..
450
465
991599468.UG.FTS.B,
28.98%,
1/27/25
..
262
263
991600295.UG.FTS.B,
28.98%,
1/27/25
..
180
186
991601203.UG.FTS.B,
28.98%,
1/27/25
..
2,315
2,392
991601850.UG.FTS.B,
28.98%,
1/27/25
..
1,800
1,862
991602414.UG.FTS.B,
28.98%,
1/27/25
..
180
186
991602564.UG.FTS.B,
28.98%,
1/27/25
..
83
86
991602821.UG.FTS.B,
28.98%,
1/27/25
..
1,700
1,753
991602932.UG.FTS.B,
28.98%,
1/27/25
..
817
834
991603572.UG.FTS.B,
28.98%,
1/27/25
..
1,654
1,704
991604001.UG.FTS.B,
28.98%,
1/27/25
..
234
242
991604438.UG.FTS.B,
28.98%,
1/27/25
..
8
8
991604766.UG.FTS.B,
28.98%,
1/27/25
..
659
673
991605311.UG.FTS.B,
28.98%,
1/27/25
..
105
108
991605868.UG.FTS.B,
28.98%,
1/27/25
..
331
342
991606158.UG.FTS.B,
28.98%,
1/27/25
..
152
155
991607306.UG.FTS.B,
28.98%,
1/27/25
..
104
107
991607985.UG.FTS.B,
28.98%,
1/27/25
..
32
3
991608665.UG.FTS.B,
28.98%,
1/27/25
..
578
598
991609082.UG.FTS.B,
28.98%,
1/27/25
..
174
116
991609616.UG.FTS.B,
28.98%,
1/27/25
..
350
361
991611663.UG.FTS.B,
28.98%,
1/27/25
..
336
337
991613097.UG.FTS.B,
28.98%,
1/27/25
..
193
199
991614181.UG.FTS.B,
28.98%,
1/27/25
..
354
355
991614332.UG.FTS.B,
28.98%,
1/27/25
..
–
–
991615115.UG.FTS.B,
28.98%,
1/27/25
..
241
17
991615144.UG.FTS.B,
28.98%,
1/27/25
..
187
194
991615331.UG.FTS.B,
28.98%,
1/27/25
..
176
181
991615612.UG.FTS.B,
28.98%,
1/27/25
..
122
8
991615892.UG.FTS.B,
28.98%,
1/27/25
..
659
681
991616336.UG.FTS.B,
28.98%,
1/27/25
..
171
174
991617077.UG.FTS.B,
28.98%,
1/27/25
..
270
276
991617118.UG.FTS.B,
28.98%,
1/27/25
..
361
365
991617463.UG.FTS.B,
28.98%,
1/27/25
..
1,730
1,762
991618978.UG.FTS.B,
28.98%,
1/27/25
..
240
158
991620210.UG.FTS.B,
28.98%,
1/27/25
..
161
167
991620222.UG.FTS.B,
28.98%,
1/27/25
..
120
122
991620928.UG.FTS.B,
28.98%,
1/27/25
..
106
109
991621129.UG.FTS.B,
28.98%,
1/27/25
..
586
606
991623327.UG.FTS.B,
28.98%,
1/27/25
..
54
55
991623357.UG.FTS.B,
28.98%,
1/27/25
..
266
274
991623437.UG.FTS.B,
28.98%,
1/27/25
..
383
396
991624157.UG.FTS.B,
28.98%,
1/27/25
..
148
153
991627111.UG.FTS.B,
28.98%,
1/27/25
..
4,491
4,643
991628534.UG.FTS.B,
28.98%,
1/27/25
..
60
60
991630700.UG.FTS.B,
28.98%,
1/27/25
..
367
379
991630885.UG.FTS.B,
28.98%,
1/27/25
..
422
424
991630973.UG.FTS.B,
28.98%,
1/27/25
..
138
9
991631171.UG.FTS.B,
28.98%,
1/27/25
..
327
334
991631807.UG.FTS.B,
28.98%,
1/27/25
..
283
293
991632093.UG.FTS.B,
28.98%,
1/27/25
..
409
422
991632344.UG.FTS.B,
28.98%,
1/27/25
..
119
123
991632516.UG.FTS.B,
28.98%,
1/27/25
..
293
302
991633180.UG.FTS.B,
28.98%,
1/27/25
..
65
10
991633929.UG.FTS.B,
28.98%,
1/27/25
..
609
629
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
154
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991634644.UG.FTS.B,
28.98%,
1/27/25
..
$
139
$
141
991635049.UG.FTS.B,
28.98%,
1/27/25
..
574
583
991635121.UG.FTS.B,
28.98%,
1/27/25
..
897
928
991635670.UG.FTS.B,
28.98%,
1/27/25
..
897
928
991635758.UG.FTS.B,
28.98%,
1/27/25
..
2,081
143
991636408.UG.FTS.B,
28.98%,
1/27/25
..
494
500
991637847.UG.FTS.B,
28.98%,
1/27/25
..
134
139
991639732.UG.FTS.B,
28.98%,
1/27/25
..
61
62
991641059.UG.FTS.B,
28.98%,
1/27/25
..
18
18
991643120.UG.FTS.B,
28.98%,
1/27/25
..
513
523
991643233.UG.FTS.B,
28.98%,
1/27/25
..
42
43
991643359.UG.FTS.B,
28.98%,
1/27/25
..
309
198
991644066.UG.FTS.B,
28.98%,
1/27/25
..
86
86
991644433.UG.FTS.B,
28.98%,
1/27/25
..
11
11
991645234.UG.FTS.B,
28.98%,
1/27/25
..
117
120
991645498.UG.FTS.B,
28.98%,
1/27/25
..
292
298
991645642.UG.FTS.B,
28.98%,
1/27/25
..
123
127
991646436.UG.FTS.B,
28.98%,
1/27/25
..
362
374
991646530.UG.FTS.B,
28.98%,
1/27/25
..
819
834
991647805.UG.FTS.B,
28.98%,
1/27/25
..
83
7
991649491.UG.FTS.B,
28.98%,
1/27/25
..
224
231
991651616.UG.FTS.B,
28.98%,
1/27/25
..
96
99
991652055.UG.FTS.B,
28.98%,
1/27/25
..
48
49
991653209.UG.FTS.B,
28.98%,
1/27/25
..
2,862
2,956
991653220.UG.FTS.B,
28.98%,
1/27/25
..
232
233
991654533.UG.FTS.B,
28.98%,
1/27/25
..
241
248
991654856.UG.FTS.B,
28.98%,
1/27/25
..
582
601
991655594.UG.FTS.B,
28.98%,
1/27/25
..
228
236
991657182.UG.FTS.B,
28.98%,
1/27/25
..
1,791
1,851
991658220.UG.FTS.B,
28.98%,
1/27/25
..
935
967
991659123.UG.FTS.B,
28.98%,
1/27/25
..
120
124
991659335.UG.FTS.B,
28.98%,
1/27/25
..
395
409
991660335.UG.FTS.B,
28.98%,
1/27/25
..
231
236
991660768.UG.FTS.B,
28.98%,
1/27/25
..
24
24
991663420.UG.FTS.B,
28.98%,
1/27/25
..
2,035
2,104
991664621.UG.FTS.B,
28.98%,
1/27/25
..
197
203
991664680.UG.FTS.B,
28.98%,
1/27/25
..
446
461
991666634.UG.FTS.B,
28.98%,
1/27/25
..
156
161
991670133.UG.FTS.B,
28.98%,
1/27/25
..
218
225
991671149.UG.FTS.B,
28.98%,
1/27/25
..
113
117
991672421.UG.FTS.B,
28.98%,
1/27/25
..
358
365
991672456.UG.FTS.B,
28.98%,
1/27/25
..
212
216
991672656.UG.FTS.B,
28.98%,
1/27/25
..
130
134
991679811.UG.FTS.B,
28.98%,
1/27/25
..
106
110
991681733.UG.FTS.B,
28.98%,
1/27/25
..
234
242
991683425.UG.FTS.B,
28.98%,
1/27/25
..
600
41
991684060.UG.FTS.B,
28.98%,
1/27/25
..
1,211
1,220
991684799.UG.FTS.B,
28.98%,
1/27/25
..
165
171
991684873.UG.FTS.B,
28.98%,
1/27/25
..
105
108
991686238.UG.FTS.B,
28.98%,
1/27/25
..
47
48
991687201.UG.FTS.B,
28.98%,
1/27/25
..
252
260
991687469.UG.FTS.B,
28.98%,
1/27/25
..
590
47
991687681.UG.FTS.B,
28.98%,
1/27/25
..
139
140
991687939.UG.FTS.B,
28.98%,
1/27/25
..
5
5
991688929.UG.FTS.B,
28.98%,
1/27/25
..
37
37
991689096.UG.FTS.B,
28.98%,
1/27/25
..
307
(5)
991691453.UG.FTS.B,
28.98%,
1/27/25
..
601
613
991693260.UG.FTS.B,
28.98%,
1/27/25
..
234
236
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991693305.UG.FTS.B,
28.98%,
1/27/25
..
$
1,248
$
1,276
991693530.UG.FTS.B,
28.98%,
1/27/25
..
170
176
991697703.UG.FTS.B,
28.98%,
1/27/25
..
32
32
991698813.UG.FTS.B,
28.98%,
1/27/25
..
1,230
(25)
991699112.UG.FTS.B,
28.98%,
1/27/25
..
135
139
991699849.UG.FTS.B,
28.98%,
1/27/25
..
47
48
991699852.UG.FTS.B,
28.98%,
1/27/25
..
295
305
991700924.UG.FTS.B,
28.98%,
1/27/25
..
145
(4)
991703924.UG.FTS.B,
28.98%,
1/27/25
..
39
40
991707195.UG.FTS.B,
28.98%,
1/27/25
..
81
82
991711538.UG.FTS.B,
28.98%,
1/27/25
..
60
61
991714759.UG.FTS.B,
28.98%,
1/27/25
..
151
156
991716555.UG.FTS.B,
28.98%,
1/27/25
..
76
78
991719023.UG.FTS.B,
28.98%,
1/27/25
..
445
460
991721854.UG.FTS.B,
28.98%,
1/27/25
..
430
438
991722576.UG.FTS.B,
28.98%,
1/27/25
..
79
81
991722842.UG.FTS.B,
28.98%,
1/27/25
..
968
990
991725390.UG.FTS.B,
28.98%,
1/27/25
..
99
99
991728459.UG.FTS.B,
28.98%,
1/27/25
..
10
10
991730761.UG.FTS.B,
28.98%,
1/27/25
..
153
158
991731180.UG.FTS.B,
28.98%,
1/27/25
..
19
19
991731267.UG.FTS.B,
28.98%,
1/27/25
..
146
149
991732352.UG.FTS.B,
28.98%,
1/27/25
..
64
65
991732403.UG.FTS.B,
28.98%,
1/27/25
..
31
32
991732810.UG.FTS.B,
28.98%,
1/27/25
..
66
67
991733750.UG.FTS.B,
28.98%,
1/27/25
..
29
29
991737000.UG.FTS.B,
28.98%,
1/27/25
..
1,777
1,836
991740609.UG.FTS.B,
28.98%,
1/27/25
..
272
274
991741365.UG.FTS.B,
28.98%,
1/27/25
..
12
12
991741558.UG.FTS.B,
28.98%,
1/27/25
..
80
80
991746915.UG.FTS.B,
28.98%,
1/27/25
..
404
412
991747891.UG.FTS.B,
28.98%,
1/27/25
..
149
153
991749644.UG.FTS.B,
28.98%,
1/27/25
..
68
68
991751444.UG.FTS.B,
28.98%,
1/27/25
..
46
47
991753884.UG.FTS.B,
28.98%,
1/27/25
..
46
46
991756720.UG.FTS.B,
28.98%,
1/27/25
..
82
84
991757043.UG.FTS.B,
28.98%,
1/27/25
..
373
377
991761383.UG.FTS.B,
28.98%,
1/27/25
..
15
15
991761556.UG.FTS.B,
28.98%,
1/27/25
..
87
89
991765825.UG.FTS.B,
28.98%,
1/27/25
..
85
(3)
991770756.UG.FTS.B,
28.98%,
1/27/25
..
459
467
991771149.UG.FTS.B,
28.98%,
1/27/25
..
37
37
991772210.UG.FTS.B,
28.98%,
1/27/25
..
3,543
3,612
991772279.UG.FTS.B,
28.98%,
1/27/25
..
886
904
991772315.UG.FTS.B,
28.98%,
1/27/25
..
887
904
991776277.UG.FTS.B,
28.98%,
1/27/25
..
45
45
991785235.UG.FTS.B,
28.98%,
1/27/25
..
423
431
991790040.UG.FTS.B,
28.98%,
1/27/25
..
131
134
991792181.UG.FTS.B,
28.98%,
1/27/25
..
2,211
2,254
991792500.UG.FTS.B,
28.98%,
1/27/25
..
221
225
991796141.UG.FTS.B,
28.98%,
1/27/25
..
83
85
991797980.UG.FTS.B,
28.98%,
1/27/25
..
42
43
991798281.UG.FTS.B,
28.98%,
1/27/25
..
72
55
991801251.UG.FTS.B,
28.98%,
1/27/25
..
251
253
991802009.UG.FTS.B,
28.98%,
1/27/25
..
325
332
991811211.UG.FTS.B,
28.98%,
1/27/25
..
254
259
991812993.UG.FTS.B,
28.98%,
1/27/25
..
540
539
991814953.UG.FTS.B,
28.98%,
1/27/25
..
93
94
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
155
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991820015.UG.FTS.B,
28.98%,
1/27/25
..
$
420
$
428
991822961.UG.FTS.B,
28.98%,
1/27/25
..
335
339
991831848.UG.FTS.B,
28.98%,
1/27/25
..
62
63
991832201.UG.FTS.B,
28.98%,
1/27/25
..
2,354
2,381
991832387.UG.FTS.B,
28.98%,
1/27/25
..
881
898
991835142.UG.FTS.B,
28.98%,
1/27/25
..
6,131
6,249
991662323.UG.FTS.B,
29.47%,
1/27/25
..
65
67
991593828.UG.FTS.B,
29.49%,
1/27/25
..
313
317
991594192.UG.FTS.B,
29.49%,
1/27/25
..
323
334
991594200.UG.FTS.B,
29.49%,
1/27/25
..
129
131
991594626.UG.FTS.B,
29.49%,
1/27/25
..
90
92
991594952.UG.FTS.B,
29.49%,
1/27/25
..
1,254
1,296
991596178.UG.FTS.B,
29.49%,
1/27/25
..
1,176
163
991596209.UG.FTS.B,
29.49%,
1/27/25
..
1,186
1,226
991596228.UG.FTS.B,
29.49%,
1/27/25
..
221
229
991596267.UG.FTS.B,
29.49%,
1/27/25
..
60
61
991596346.UG.FTS.B,
29.49%,
1/27/25
..
60
61
991596886.UG.FTS.B,
29.49%,
1/27/25
..
198
201
991596983.UG.FTS.B,
29.49%,
1/27/25
..
129
133
991597322.UG.FTS.B,
29.49%,
1/27/25
..
55
54
991597441.UG.FTS.B,
29.49%,
1/27/25
..
431
443
991597657.UG.FTS.B,
29.49%,
1/27/25
..
152
154
991598580.UG.FTS.B,
29.49%,
1/27/25
..
146
151
991598640.UG.FTS.B,
29.49%,
1/27/25
..
65
66
991598870.UG.FTS.B,
29.49%,
1/27/25
..
47
48
991598931.UG.FTS.B,
29.49%,
1/27/25
..
208
214
991599464.UG.FTS.B,
29.49%,
1/27/25
..
300
21
991600051.UG.FTS.B,
29.49%,
1/27/25
..
139
10
991600353.UG.FTS.B,
29.49%,
1/27/25
..
257
257
991600440.UG.FTS.B,
29.49%,
1/27/25
..
535
553
991600674.UG.FTS.B,
29.49%,
1/27/25
..
107
111
991600794.UG.FTS.B,
29.49%,
1/27/25
..
117
(4)
991601393.UG.FTS.B,
29.49%,
1/27/25
..
2,295
2,359
991601553.UG.FTS.B,
29.49%,
1/27/25
..
1,294
1,322
991601649.UG.FTS.B,
29.49%,
1/27/25
..
482
501
991602782.UG.FTS.B,
29.49%,
1/27/25
..
85
87
991602892.UG.FTS.B,
29.49%,
1/27/25
..
83
85
991603339.UG.FTS.B,
29.49%,
1/27/25
..
148
153
991603347.UG.FTS.B,
29.49%,
1/27/25
..
104
0
991603573.UG.FTS.B,
29.49%,
1/27/25
..
852
119
991604512.UG.FTS.B,
29.49%,
1/27/25
..
155
159
991604744.UG.FTS.B,
29.49%,
1/27/25
..
80
82
991604802.UG.FTS.B,
29.49%,
1/27/25
..
83
85
991605074.UG.FTS.B,
29.49%,
1/27/25
..
253
252
991605178.UG.FTS.B,
29.49%,
1/27/25
..
339
350
991605218.UG.FTS.B,
29.49%,
1/27/25
..
45
46
991605251.UG.FTS.B,
29.49%,
1/27/25
..
65
66
991605906.UG.FTS.B,
29.49%,
1/27/25
..
320
328
991605991.UG.FTS.B,
29.49%,
1/27/25
..
176
12
991606053.UG.FTS.B,
29.49%,
1/27/25
..
27
24
991606270.UG.FTS.B,
29.49%,
1/27/25
..
791
818
991606464.UG.FTS.B,
29.49%,
1/27/25
..
17
17
991606487.UG.FTS.B,
29.49%,
1/27/25
..
465
481
991606996.UG.FTS.B,
29.49%,
1/27/25
..
81
83
991607077.UG.FTS.B,
29.49%,
1/27/25
..
1,088
1,124
991607258.UG.FTS.B,
29.49%,
1/27/25
..
409
423
991607365.UG.FTS.B,
29.49%,
1/27/25
..
673
92
991608429.UG.FTS.B,
29.49%,
1/27/25
..
216
222
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991608526.UG.FTS.B,
29.49%,
1/27/25
..
$
357
$
370
991609046.UG.FTS.B,
29.49%,
1/27/25
..
268
278
991609085.UG.FTS.B,
29.49%,
1/27/25
..
90
67
991609299.UG.FTS.B,
29.49%,
1/27/25
..
1,846
1,910
991609655.UG.FTS.B,
29.49%,
1/27/25
..
275
284
991611049.UG.FTS.B,
29.49%,
1/27/25
..
272
282
991611862.UG.FTS.B,
29.49%,
1/27/25
..
178
184
991612657.UG.FTS.B,
29.49%,
1/27/25
..
333
344
991613226.UG.FTS.B,
29.49%,
1/27/25
..
296
300
991613342.UG.FTS.B,
29.49%,
1/27/25
..
204
211
991613792.UG.FTS.B,
29.49%,
1/27/25
..
23
23
991613806.UG.FTS.B,
29.49%,
1/27/25
..
3,862
3,936
991613940.UG.FTS.B,
29.49%,
1/27/25
..
101
105
991614453.UG.FTS.B,
29.49%,
1/27/25
..
505
506
991614526.UG.FTS.B,
29.49%,
1/27/25
..
–
–
991614668.UG.FTS.B,
29.49%,
1/27/25
..
101
104
991614695.UG.FTS.B,
29.49%,
1/27/25
..
66
67
991614714.UG.FTS.B,
29.49%,
1/27/25
..
67
68
991615077.UG.FTS.B,
29.49%,
1/27/25
..
57
58
991615133.UG.FTS.B,
29.49%,
1/27/25
..
40
40
991615454.UG.FTS.B,
29.49%,
1/27/25
..
282
291
991615614.UG.FTS.B,
29.49%,
1/27/25
..
38
39
991616666.UG.FTS.B,
29.49%,
1/27/25
..
36
35
991616915.UG.FTS.B,
29.49%,
1/27/25
..
243
248
991617030.UG.FTS.B,
29.49%,
1/27/25
..
107
110
991617119.UG.FTS.B,
29.49%,
1/27/25
..
932
964
991617295.UG.FTS.B,
29.49%,
1/27/25
..
990
1,024
991618276.UG.FTS.B,
29.49%,
1/27/25
..
828
839
991618551.UG.FTS.B,
29.49%,
1/27/25
..
0
0
991619030.UG.FTS.B,
29.49%,
1/27/25
..
182
185
991619817.UG.FTS.B,
29.49%,
1/27/25
..
689
711
991620641.UG.FTS.B,
29.49%,
1/27/25
..
179
183
991621900.UG.FTS.B,
29.49%,
1/27/25
..
298
308
991622015.UG.FTS.B,
29.49%,
1/27/25
..
6
6
991623857.UG.FTS.B,
29.49%,
1/27/25
..
36
12
991623935.UG.FTS.B,
29.49%,
1/27/25
..
3
3
991624512.UG.FTS.B,
29.49%,
1/27/25
..
160
165
991624910.UG.FTS.B,
29.49%,
1/27/25
..
105
108
991626868.UG.FTS.B,
29.49%,
1/27/25
..
141
143
991627500.UG.FTS.B,
29.49%,
1/27/25
..
128
9
991627621.UG.FTS.B,
29.49%,
1/27/25
..
125
130
991628233.UG.FTS.B,
29.49%,
1/27/25
..
72
73
991628707.UG.FTS.B,
29.49%,
1/27/25
..
915
945
991629351.UG.FTS.B,
29.49%,
1/27/25
..
30
31
991629829.UG.FTS.B,
29.49%,
1/27/25
..
87
(3)
991630575.UG.FTS.B,
29.49%,
1/27/25
..
255
263
991630944.UG.FTS.B,
29.49%,
1/27/25
..
94
96
991633038.UG.FTS.B,
29.49%,
1/27/25
..
1,182
1,207
991633389.UG.FTS.B,
29.49%,
1/27/25
..
311
42
991633884.UG.FTS.B,
29.49%,
1/27/25
..
567
562
991635104.UG.FTS.B,
29.49%,
1/27/25
..
149
152
991636506.UG.FTS.B,
29.49%,
1/27/25
..
1,244
1,280
991636871.UG.FTS.B,
29.49%,
1/27/25
..
1,236
95
991637021.UG.FTS.B,
29.49%,
1/27/25
..
818
822
991637168.UG.FTS.B,
29.49%,
1/27/25
..
149
154
991637194.UG.FTS.B,
29.49%,
1/27/25
..
23
23
991637328.UG.FTS.B,
29.49%,
1/27/25
..
208
215
991639078.UG.FTS.B,
29.49%,
1/27/25
..
28
28
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
156
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991639949.UG.FTS.B,
29.49%,
1/27/25
..
$
14
$
14
991643691.UG.FTS.B,
29.49%,
1/27/25
..
253
257
991643756.UG.FTS.B,
29.49%,
1/27/25
..
39
34
991643995.UG.FTS.B,
29.49%,
1/27/25
..
415
429
991645667.UG.FTS.B,
29.49%,
1/27/25
..
163
168
991645861.UG.FTS.B,
29.49%,
1/27/25
..
458
(20)
991646515.UG.FTS.B,
29.49%,
1/27/25
..
32
29
991647854.UG.FTS.B,
29.49%,
1/27/25
..
139
143
991648038.UG.FTS.B,
29.49%,
1/27/25
..
0
0
991648775.UG.FTS.B,
29.49%,
1/27/25
..
2,619
2,707
991648967.UG.FTS.B,
29.49%,
1/27/25
..
135
140
991649572.UG.FTS.B,
29.49%,
1/27/25
..
94
95
991650190.UG.FTS.B,
29.49%,
1/27/25
..
300
214
991650614.UG.FTS.B,
29.49%,
1/27/25
..
95
7
991651629.UG.FTS.B,
29.49%,
1/27/25
..
121
125
991652619.UG.FTS.B,
29.49%,
1/27/25
..
126
28
991653136.UG.FTS.B,
29.49%,
1/27/25
..
48
15
991653371.UG.FTS.B,
29.49%,
1/27/25
..
279
289
991654240.UG.FTS.B,
29.49%,
1/27/25
..
84
87
991654331.UG.FTS.B,
29.49%,
1/27/25
..
346
357
991657968.UG.FTS.B,
29.49%,
1/27/25
..
2,244
2,282
991658758.UG.FTS.B,
29.49%,
1/27/25
..
100
103
991659287.UG.FTS.B,
29.49%,
1/27/25
..
241
248
991659586.UG.FTS.B,
29.49%,
1/27/25
..
39
39
991660024.UG.FTS.B,
29.49%,
1/27/25
..
80
82
991660396.UG.FTS.B,
29.49%,
1/27/25
..
7
7
991663020.UG.FTS.B,
29.49%,
1/27/25
..
87
89
991664709.UG.FTS.B,
29.49%,
1/27/25
..
180
12
991665944.UG.FTS.B,
29.49%,
1/27/25
..
2,335
1,545
991667009.UG.FTS.B,
29.49%,
1/27/25
..
64
5
991667522.UG.FTS.B,
29.49%,
1/27/25
..
21
21
991668002.UG.FTS.B,
29.49%,
1/27/25
..
195
202
991668359.UG.FTS.B,
29.49%,
1/27/25
..
512
515
991668952.UG.FTS.B,
29.49%,
1/27/25
..
159
11
991669942.UG.FTS.B,
29.49%,
1/27/25
..
71
73
991670220.UG.FTS.B,
29.49%,
1/27/25
..
70
72
991670777.UG.FTS.B,
29.49%,
1/27/25
..
–
–
991670891.UG.FTS.B,
29.49%,
1/27/25
..
35
35
991672322.UG.FTS.B,
29.49%,
1/27/25
..
265
272
991675189.UG.FTS.B,
29.49%,
1/27/25
..
82
61
991678623.UG.FTS.B,
29.49%,
1/27/25
..
93
96
991680945.UG.FTS.B,
29.49%,
1/27/25
..
365
369
991682834.UG.FTS.B,
29.49%,
1/27/25
..
267
276
991683132.UG.FTS.B,
29.49%,
1/27/25
..
1,162
1,202
991683393.UG.FTS.B,
29.49%,
1/27/25
..
914
624
991687025.UG.FTS.B,
29.49%,
1/27/25
..
28
28
991687934.UG.FTS.B,
29.49%,
1/27/25
..
23
24
991688414.UG.FTS.B,
29.49%,
1/27/25
..
37
37
991688605.UG.FTS.B,
29.49%,
1/27/25
..
166
169
991689965.UG.FTS.B,
29.49%,
1/27/25
..
229
237
991690240.UG.FTS.B,
29.49%,
1/27/25
..
44
44
991691306.UG.FTS.B,
29.49%,
1/27/25
..
221
228
991691664.UG.FTS.B,
29.49%,
1/27/25
..
1,371
1,413
991692639.UG.FTS.B,
29.49%,
1/27/25
..
32
32
991693933.UG.FTS.B,
29.49%,
1/27/25
..
149
10
991695052.UG.FTS.B,
29.49%,
1/27/25
..
88
90
991695728.UG.FTS.B,
29.49%,
1/27/25
..
642
664
991696481.UG.FTS.B,
29.49%,
1/27/25
..
557
575
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991696634.UG.FTS.B,
29.49%,
1/27/25
..
$
53
$
4
991696793.UG.FTS.B,
29.49%,
1/27/25
..
222
221
991698282.UG.FTS.B,
29.49%,
1/27/25
..
68
69
991698507.UG.FTS.B,
29.49%,
1/27/25
..
121
122
991701480.UG.FTS.B,
29.49%,
1/27/25
..
642
663
991702188.UG.FTS.B,
29.49%,
1/27/25
..
142
146
991703342.UG.FTS.B,
29.49%,
1/27/25
..
181
186
991703436.UG.FTS.B,
29.49%,
1/27/25
..
10
10
991705606.UG.FTS.B,
29.49%,
1/27/25
..
62
62
991705617.UG.FTS.B,
29.49%,
1/27/25
..
322
324
991705770.UG.FTS.B,
29.49%,
1/27/25
..
6
6
991709075.UG.FTS.B,
29.49%,
1/27/25
..
391
396
991709652.UG.FTS.B,
29.49%,
1/27/25
..
227
234
991710104.UG.FTS.B,
29.49%,
1/27/25
..
76
78
991710576.UG.FTS.B,
29.49%,
1/27/25
..
220
222
991712616.UG.FTS.B,
29.49%,
1/27/25
..
1,081
1,117
991715908.UG.FTS.B,
29.49%,
1/27/25
..
502
519
991716296.UG.FTS.B,
29.49%,
1/27/25
..
478
485
991717015.UG.FTS.B,
29.49%,
1/27/25
..
133
138
991717864.UG.FTS.B,
29.49%,
1/27/25
..
267
276
991717964.UG.FTS.B,
29.49%,
1/27/25
..
76
77
991718575.UG.FTS.B,
29.49%,
1/27/25
..
160
166
991718785.UG.FTS.B,
29.49%,
1/27/25
..
267
276
991720299.UG.FTS.B,
29.49%,
1/27/25
..
802
829
991722603.UG.FTS.B,
29.49%,
1/27/25
..
302
41
991726868.UG.FTS.B,
29.49%,
1/27/25
..
738
755
991727056.UG.FTS.B,
29.49%,
1/27/25
..
1,021
1,029
991728566.UG.FTS.B,
29.49%,
1/27/25
..
227
235
991728654.UG.FTS.B,
29.49%,
1/27/25
..
104
7
991729561.UG.FTS.B,
29.49%,
1/27/25
..
236
239
991729760.UG.FTS.B,
29.49%,
1/27/25
..
30
31
991730240.UG.FTS.B,
29.49%,
1/27/25
..
278
284
991731570.UG.FTS.B,
29.49%,
1/27/25
..
90
91
991731887.UG.FTS.B,
29.49%,
1/27/25
..
26
26
991732661.UG.FTS.B,
29.49%,
1/27/25
..
106
110
991737584.UG.FTS.B,
29.49%,
1/27/25
..
113
116
991740591.UG.FTS.B,
29.49%,
1/27/25
..
909
935
991742966.UG.FTS.B,
29.49%,
1/27/25
..
598
597
991743785.UG.FTS.B,
29.49%,
1/27/25
..
142
147
991747094.UG.FTS.B,
29.49%,
1/27/25
..
34
35
991747252.UG.FTS.B,
29.49%,
1/27/25
..
268
273
991747625.UG.FTS.B,
29.49%,
1/27/25
..
7
7
991747954.UG.FTS.B,
29.49%,
1/27/25
..
12
0
991749269.UG.FTS.B,
29.49%,
1/27/25
..
338
348
991749414.UG.FTS.B,
29.49%,
1/27/25
..
164
168
991749510.UG.FTS.B,
29.49%,
1/27/25
..
263
269
991750553.UG.FTS.B,
29.49%,
1/27/25
..
118
117
991752239.UG.FTS.B,
29.49%,
1/27/25
..
425
439
991752832.UG.FTS.B,
29.49%,
1/27/25
..
200
199
991753656.UG.FTS.B,
29.49%,
1/27/25
..
46
47
991754719.UG.FTS.B,
29.49%,
1/27/25
..
227
233
991754815.UG.FTS.B,
29.49%,
1/27/25
..
88
91
991756435.UG.FTS.B,
29.49%,
1/27/25
..
469
484
991757095.UG.FTS.B,
29.49%,
1/27/25
..
263
270
991759684.UG.FTS.B,
29.49%,
1/27/25
..
1,309
1,333
991765894.UG.FTS.B,
29.49%,
1/27/25
..
83
12
991766642.UG.FTS.B,
29.49%,
1/27/25
..
121
8
991770465.UG.FTS.B,
29.49%,
1/27/25
..
111
115
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
157
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991774020.UG.FTS.B,
29.49%,
1/27/25
..
$
443
$
451
991775557.UG.FTS.B,
29.49%,
1/27/25
..
554
560
991777410.UG.FTS.B,
29.49%,
1/27/25
..
62
63
991780499.UG.FTS.B,
29.49%,
1/27/25
..
436
444
991780894.UG.FTS.B,
29.49%,
1/27/25
..
8
8
991781410.UG.FTS.B,
29.49%,
1/27/25
..
115
117
991782255.UG.FTS.B,
29.49%,
1/27/25
..
43
43
991783368.UG.FTS.B,
29.49%,
1/27/25
..
34
35
991783887.UG.FTS.B,
29.49%,
1/27/25
..
171
172
991784000.UG.FTS.B,
29.49%,
1/27/25
..
204
207
991788344.UG.FTS.B,
29.49%,
1/27/25
..
85
64
991789576.UG.FTS.B,
29.49%,
1/27/25
..
96
13
991792296.UG.FTS.B,
29.49%,
1/27/25
..
883
899
991793044.UG.FTS.B,
29.49%,
1/27/25
..
762
774
991793218.UG.FTS.B,
29.49%,
1/27/25
..
443
447
991793271.UG.FTS.B,
29.49%,
1/27/25
..
265
270
991793324.UG.FTS.B,
29.49%,
1/27/25
..
172
175
991793360.UG.FTS.B,
29.49%,
1/27/25
..
442
448
991793422.UG.FTS.B,
29.49%,
1/27/25
..
175
25
991794872.UG.FTS.B,
29.49%,
1/27/25
..
–
–
991798454.UG.FTS.B,
29.49%,
1/27/25
..
55
54
991800672.UG.FTS.B,
29.49%,
1/27/25
..
127
129
991802443.UG.FTS.B,
29.49%,
1/27/25
..
353
358
991803603.UG.FTS.B,
29.49%,
1/27/25
..
783
778
991804585.UG.FTS.B,
29.49%,
1/27/25
..
70
72
991807085.UG.FTS.B,
29.49%,
1/27/25
..
65
66
991810829.UG.FTS.B,
29.49%,
1/27/25
..
83
85
991812381.UG.FTS.B,
29.49%,
1/27/25
..
149
150
991814263.UG.FTS.B,
29.49%,
1/27/25
..
30
30
991814678.UG.FTS.B,
29.49%,
1/27/25
..
123
124
991822092.UG.FTS.B,
29.49%,
1/27/25
..
119
120
991828515.UG.FTS.B,
29.49%,
1/27/25
..
18
18
991828600.UG.FTS.B,
29.49%,
1/27/25
..
104
105
991829288.UG.FTS.B,
29.49%,
1/27/25
..
–
–
991832224.UG.FTS.B,
29.49%,
1/27/25
..
74
76
991833226.UG.FTS.B,
29.49%,
1/27/25
..
2,645
2,694
991836282.UG.FTS.B,
29.49%,
1/27/25
..
4,536
4,554
991689747.UG.FTS.B,
14%,
1/28/25
.....
451
458
991603028.UG.FTS.B,
15%,
1/28/25
.....
390
392
991633143.UG.FTS.B,
15%,
1/28/25
.....
15
15
991791316.UG.FTS.B,
15%,
1/28/25
.....
1,938
1,964
991606397.UG.FTS.B,
15.97%,
1/28/25
..
544
557
991606845.UG.FTS.B,
15.97%,
1/28/25
..
92
92
991619717.UG.FTS.B,
15.97%,
1/28/25
..
340
349
991791151.UG.FTS.B,
15.97%,
1/28/25
..
292
293
991800530.UG.FTS.B,
15.97%,
1/28/25
..
661
674
991838313.UG.FTS.B,
15.97%,
1/28/25
..
1,631
1,664
991610101.UG.FTS.B,
16.99%,
1/28/25
..
1,901
1,962
991617374.UG.FTS.B,
16.99%,
1/28/25
..
3,058
3,130
991638172.UG.FTS.B,
16.99%,
1/28/25
..
219
224
991748718.UG.FTS.B,
16.99%,
1/28/25
..
1,733
1,775
991766525.UG.FTS.B,
16.99%,
1/28/25
..
130
133
991799999.UG.FTS.B,
16.99%,
1/28/25
..
110
113
991854471.UG.FTS.B,
16.99%,
1/28/25
..
7,315
7,451
991613370.UG.FTS.B,
17.99%,
1/28/25
..
317
325
991621866.UG.FTS.B,
17.99%,
1/28/25
..
145
147
991661885.UG.FTS.B,
17.99%,
1/28/25
..
25
25
991716911.UG.FTS.B,
17.99%,
1/28/25
..
484
493
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991720766.UG.FTS.B,
17.99%,
1/28/25
..
$
870
$
891
991727531.UG.FTS.B,
17.99%,
1/28/25
..
162
165
991809155.UG.FTS.B,
17.99%,
1/28/25
..
881
897
991843689.UG.FTS.B,
17.99%,
1/28/25
..
6,052
6,159
991613901.UG.FTS.B,
18.97%,
1/28/25
..
673
674
991605066.UG.FTS.B,
19.8%,
1/28/25
...
875
108
991692051.UG.FTS.B,
20.46%,
1/28/25
..
460
466
991653436.UG.FTS.B,
20.97%,
1/28/25
..
873
878
991622578.UG.FTS.B,
22.97%,
1/28/25
..
216
217
991614133.UG.FTS.B,
14.98%,
1/29/25
..
690
701
991621915.UG.FTS.B,
14.98%,
1/29/25
..
372
381
991647560.UG.FTS.B,
14.98%,
1/29/25
..
1,520
1,557
991671798.UG.FTS.B,
14.98%,
1/29/25
..
170
174
991864236.UG.FTS.B,
14.98%,
1/29/25
..
8,588
8,746
991669610.UG.FTS.B,
15.97%,
1/29/25
..
551
565
991716164.UG.FTS.B,
15.97%,
1/29/25
..
455
466
991717732.UG.FTS.B,
15.97%,
1/29/25
..
150
154
991733949.UG.FTS.B,
15.97%,
1/29/25
..
194
197
991811428.UG.FTS.B,
15.97%,
1/29/25
..
259
264
991670873.UG.FTS.B,
16.99%,
1/29/25
..
240
246
991748418.UG.FTS.B,
16.99%,
1/29/25
..
2,967
3,033
991632718.UG.FTS.B,
17.99%,
1/29/25
..
115
117
991669723.UG.FTS.B,
17.99%,
1/29/25
..
236
241
991688664.UG.FTS.B,
17.99%,
1/29/25
..
505
517
991842042.UG.FTS.B,
17.99%,
1/29/25
..
1,965
1,995
991619308.UG.FTS.B,
18.97%,
1/29/25
..
1,817
1,859
991654581.UG.FTS.B,
18.97%,
1/29/25
..
346
354
991667776.UG.FTS.B,
18.97%,
1/29/25
..
1,578
1,614
991623640.UG.FTS.B,
19.21%,
1/29/25
..
523
535
991628531.UG.FTS.B,
19.21%,
1/29/25
..
89
91
991667796.UG.FTS.B,
19.21%,
1/29/25
..
345
350
991612495.UG.FTS.B,
19.8%,
1/29/25
...
389
398
991629575.UG.FTS.B,
20.46%,
1/29/25
..
576
588
991682711.UG.FTS.B,
20.97%,
1/29/25
..
1,083
1,086
991614428.UG.FTS.B,
21.46%,
1/29/25
..
3,511
3,576
991612595.UG.FTS.B,
21.98%,
1/29/25
..
1,200
1,222
991613877.UG.FTS.B,
21.98%,
1/29/25
..
608
387
991631756.UG.FTS.B,
21.98%,
1/29/25
..
59
60
991693755.UG.FTS.B,
21.98%,
1/29/25
..
0
0
991666414.UG.FTS.B,
14.98%,
1/30/25
..
1,730
1,772
991681003.UG.FTS.B,
14.98%,
1/30/25
..
786
805
991748200.UG.FTS.B,
14.98%,
1/30/25
..
167
171
991633765.UG.FTS.B,
15%,
1/30/25
.....
1,257
1,290
991686296.UG.FTS.B,
15%,
1/30/25
.....
27
27
991703656.UG.FTS.B,
15.97%,
1/30/25
..
1,128
1,138
991871721.UG.FTS.B,
16.99%,
1/30/25
..
213
216
991624393.UG.FTS.B,
17.99%,
1/30/25
..
411
418
991710060.UG.FTS.B,
17.99%,
1/30/25
..
205
210
991775041.UG.FTS.B,
17.99%,
1/30/25
..
1,468
1,502
991783304.UG.FTS.B,
17.99%,
1/30/25
..
868
889
991788920.UG.FTS.B,
17.99%,
1/30/25
..
346
355
991627597.UG.FTS.B,
18.97%,
1/30/25
..
327
331
991673375.UG.FTS.B,
18.97%,
1/30/25
..
175
179
991651806.UG.FTS.B,
19.8%,
1/30/25
...
185
188
991685892.UG.FTS.B,
20.46%,
1/30/25
..
286
292
991659919.UG.FTS.B,
20.97%,
1/30/25
..
140
143
991706022.UG.FTS.B,
20.97%,
1/30/25
..
137
140
991619303.UG.FTS.B,
21.46%,
1/30/25
..
170
173
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
158
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991632156.UG.FTS.B,
21.46%,
1/30/25
..
$
96
$
98
991623550.UG.FTS.B,
21.98%,
1/30/25
..
24
24
991625186.UG.FTS.B,
21.98%,
1/30/25
..
472
473
991666898.UG.FTS.B,
21.98%,
1/30/25
..
76
77
991620571.UG.FTS.B,
22.97%,
1/30/25
..
475
475
991684639.UG.FTS.B,
14.97%,
1/31/25
..
284
290
991832705.UG.FTS.B,
14.97%,
1/31/25
..
266
270
991685973.UG.FTS.B,
14.98%,
1/31/25
..
1,360
1,386
991718191.UG.FTS.B,
14.98%,
1/31/25
..
445
453
991726744.UG.FTS.B,
14.98%,
1/31/25
..
323
331
991831913.UG.FTS.B,
14.98%,
1/31/25
..
93
96
991851449.UG.FTS.B,
14.98%,
1/31/25
..
78
80
991646701.UG.FTS.B,
15%,
1/31/25
.....
742
756
991659852.UG.FTS.B,
15%,
1/31/25
.....
1,056
1,070
991692599.UG.FTS.B,
15%,
1/31/25
.....
2,648
2,676
991805365.UG.FTS.B,
15%,
1/31/25
.....
501
507
991853717.UG.FTS.B,
15%,
1/31/25
.....
1,327
1,352
991863517.UG.FTS.B,
15%,
1/31/25
.....
672
675
991870576.UG.FTS.B,
15%,
1/31/25
.....
32
33
991638888.UG.FTS.B,
15.97%,
1/31/25
..
130
133
991649795.UG.FTS.B,
15.97%,
1/31/25
..
238
239
991653361.UG.FTS.B,
15.97%,
1/31/25
..
422
428
991666372.UG.FTS.B,
15.97%,
1/31/25
..
8,947
9,124
991746713.UG.FTS.B,
15.97%,
1/31/25
..
248
252
991754483.UG.FTS.B,
15.97%,
1/31/25
..
262
267
991755429.UG.FTS.B,
15.97%,
1/31/25
..
32
33
991757099.UG.FTS.B,
15.97%,
1/31/25
..
133
137
991809317.UG.FTS.B,
15.97%,
1/31/25
..
2,010
2,036
991815664.UG.FTS.B,
15.97%,
1/31/25
..
569
578
991852833.UG.FTS.B,
15.97%,
1/31/25
..
–
–
991711633.UG.FTS.B,
15.99%,
1/31/25
..
58
58
991740681.UG.FTS.B,
15.99%,
1/31/25
..
649
653
991638718.UG.FTS.B,
16.99%,
1/31/25
..
359
367
991642283.UG.FTS.B,
16.99%,
1/31/25
..
195
200
991662857.UG.FTS.B,
16.99%,
1/31/25
..
2,604
2,632
991704534.UG.FTS.B,
16.99%,
1/31/25
..
1,080
1,101
991753549.UG.FTS.B,
16.99%,
1/31/25
..
271
276
991757606.UG.FTS.B,
16.99%,
1/31/25
..
435
444
991762445.UG.FTS.B,
16.99%,
1/31/25
..
66
67
991784043.UG.FTS.B,
16.99%,
1/31/25
..
111
111
991805820.UG.FTS.B,
16.99%,
1/31/25
..
108
110
991814268.UG.FTS.B,
16.99%,
1/31/25
..
24
24
991836242.UG.FTS.B,
16.99%,
1/31/25
..
4,323
4,404
991856848.UG.FTS.B,
16.99%,
1/31/25
..
189
192
991675482.UG.FTS.B,
17.97%,
1/31/25
..
535
544
991628020.UG.FTS.B,
17.99%,
1/31/25
..
856
877
991628247.UG.FTS.B,
17.99%,
1/31/25
..
793
55
991636165.UG.FTS.B,
17.99%,
1/31/25
..
601
616
991640620.UG.FTS.B,
17.99%,
1/31/25
..
703
720
991642242.UG.FTS.B,
17.99%,
1/31/25
..
182
185
991646047.UG.FTS.B,
17.99%,
1/31/25
..
1,338
1,369
991649852.UG.FTS.B,
17.99%,
1/31/25
..
175
179
991651359.UG.FTS.B,
17.99%,
1/31/25
..
278
283
991659616.UG.FTS.B,
17.99%,
1/31/25
..
411
413
991664214.UG.FTS.B,
17.99%,
1/31/25
..
200
203
991682270.UG.FTS.B,
17.99%,
1/31/25
..
254
260
991696738.UG.FTS.B,
17.99%,
1/31/25
..
134
137
991698361.UG.FTS.B,
17.99%,
1/31/25
..
140
143
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991706638.UG.FTS.B,
17.99%,
1/31/25
..
$
211
$
23
991709244.UG.FTS.B,
17.99%,
1/31/25
..
131
134
991711488.UG.FTS.B,
17.99%,
1/31/25
..
28
28
991712841.UG.FTS.B,
17.99%,
1/31/25
..
554
563
991713828.UG.FTS.B,
17.99%,
1/31/25
..
5,450
5,580
991743801.UG.FTS.B,
17.99%,
1/31/25
..
782
801
991748611.UG.FTS.B,
17.99%,
1/31/25
..
434
444
991754758.UG.FTS.B,
17.99%,
1/31/25
..
1,251
1,273
991759257.UG.FTS.B,
17.99%,
1/31/25
..
135
139
991772768.UG.FTS.B,
17.99%,
1/31/25
..
132
134
991822192.UG.FTS.B,
17.99%,
1/31/25
..
1,341
1,362
991635799.UG.FTS.B,
18.97%,
1/31/25
..
1,012
1,035
991641148.UG.FTS.B,
18.97%,
1/31/25
..
548
109
991646069.UG.FTS.B,
18.97%,
1/31/25
..
264
269
991693691.UG.FTS.B,
18.97%,
1/31/25
..
522
529
991702370.UG.FTS.B,
18.97%,
1/31/25
..
177
180
991704685.UG.FTS.B,
18.97%,
1/31/25
..
29
29
991705454.UG.FTS.B,
18.97%,
1/31/25
..
1,114
1,133
991639577.UG.FTS.B,
19.21%,
1/31/25
..
274
280
991642378.UG.FTS.B,
19.21%,
1/31/25
..
45
45
991654842.UG.FTS.B,
19.21%,
1/31/25
..
239
243
991660673.UG.FTS.B,
19.21%,
1/31/25
..
1,139
1,166
991684344.UG.FTS.B,
19.21%,
1/31/25
..
386
395
991696599.UG.FTS.B,
19.21%,
1/31/25
..
190
193
991663410.UG.FTS.B,
19.8%,
1/31/25
...
3,509
3,536
991666877.UG.FTS.B,
19.8%,
1/31/25
...
98
22
991708296.UG.FTS.B,
19.8%,
1/31/25
...
342
347
991655586.UG.FTS.B,
20.46%,
1/31/25
..
541
548
991648537.UG.FTS.B,
20.97%,
1/31/25
..
204
206
991653526.UG.FTS.B,
20.97%,
1/31/25
..
414
419
991653644.UG.FTS.B,
20.97%,
1/31/25
..
–
–
991661887.UG.FTS.B,
20.97%,
1/31/25
..
230
233
991683502.UG.FTS.B,
20.97%,
1/31/25
..
474
483
991630777.UG.FTS.B,
21.46%,
1/31/25
..
504
513
991656715.UG.FTS.B,
21.46%,
1/31/25
..
2,717
2,746
991693835.UG.FTS.B,
21.46%,
1/31/25
..
813
821
991702530.UG.FTS.B,
21.46%,
1/31/25
..
0
0
991672382.UG.FTS.B,
21.97%,
1/31/25
..
6,652
6,777
991697711.UG.FTS.B,
21.98%,
1/31/25
..
16
16
991704918.UG.FTS.B,
21.98%,
1/31/25
..
362
367
991707602.UG.FTS.B,
21.98%,
1/31/25
..
1,109
70
991648500.UG.FTS.B,
23.95%,
1/31/25
..
942
947
991661661.UG.FTS.B,
23.95%,
1/31/25
..
255
259
991667507.UG.FTS.B,
23.95%,
1/31/25
..
242
54
991799359.UG.FTS.B,
14%,
2/01/25
.....
63
63
991883831.UG.FTS.B,
14%,
2/01/25
.....
272
273
991745640.UG.FTS.B,
14.97%,
2/01/25
..
509
519
991833353.UG.FTS.B,
14.98%,
2/01/25
..
681
694
991836618.UG.FTS.B,
15%,
2/01/25
.....
1,118
1,137
991680366.UG.FTS.B,
15.97%,
2/01/25
..
3,757
3,830
991656115.UG.FTS.B,
15.99%,
2/01/25
..
895
913
991666265.UG.FTS.B,
16.99%,
2/01/25
..
736
750
991722252.UG.FTS.B,
16.99%,
2/01/25
..
715
729
991801511.UG.FTS.B,
16.99%,
2/01/25
..
267
272
991660996.UG.FTS.B,
17.97%,
2/01/25
..
540
38
991668427.UG.FTS.B,
17.97%,
2/01/25
..
444
446
991716411.UG.FTS.B,
17.99%,
2/01/25
..
66
65
991761791.UG.FTS.B,
17.99%,
2/01/25
..
926
943
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
159
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991817210.UG.FTS.B,
17.99%,
2/01/25
..
$
1,520
$
281
991657231.UG.FTS.B,
13.97%,
2/02/25
..
5,350
5,456
991655483.UG.FTS.B,
14%,
2/02/25
.....
10,678
10,887
991693291.UG.FTS.B,
14%,
2/02/25
.....
213
217
991724492.UG.FTS.B,
14%,
2/02/25
.....
123
125
991725692.UG.FTS.B,
14%,
2/02/25
.....
304
309
991771266.UG.FTS.B,
14%,
2/02/25
.....
192
196
991834440.UG.FTS.B,
14%,
2/02/25
.....
291
295
991651238.UG.FTS.B,
14.97%,
2/02/25
..
17
17
991687949.UG.FTS.B,
14.98%,
2/02/25
..
314
320
991658184.UG.FTS.B,
15%,
2/02/25
.....
4,201
4,280
991681442.UG.FTS.B,
15%,
2/02/25
.....
77
77
991773277.UG.FTS.B,
15%,
2/02/25
.....
861
876
991670102.UG.FTS.B,
15.97%,
2/02/25
..
692
706
991670480.UG.FTS.B,
15.97%,
2/02/25
..
59
60
991705627.UG.FTS.B,
15.97%,
2/02/25
..
1,082
1,104
991712581.UG.FTS.B,
15.97%,
2/02/25
..
114
116
991760625.UG.FTS.B,
15.97%,
2/02/25
..
352
359
991763118.UG.FTS.B,
15.97%,
2/02/25
..
770
785
991783832.UG.FTS.B,
15.97%,
2/02/25
..
269
274
991848002.UG.FTS.B,
15.97%,
2/02/25
..
96
98
991884423.UG.FTS.B,
15.97%,
2/02/25
..
–
–
991655255.UG.FTS.B,
15.99%,
2/02/25
..
6,271
6,391
991849575.UG.FTS.B,
15.99%,
2/02/25
..
89
91
991650925.UG.FTS.B,
16.99%,
2/02/25
..
381
386
991666008.UG.FTS.B,
16.99%,
2/02/25
..
583
594
991676165.UG.FTS.B,
16.99%,
2/02/25
..
287
292
991679270.UG.FTS.B,
16.99%,
2/02/25
..
335
341
991689542.UG.FTS.B,
16.99%,
2/02/25
..
656
668
991781369.UG.FTS.B,
16.99%,
2/02/25
..
864
880
991793383.UG.FTS.B,
16.99%,
2/02/25
..
4,457
4,538
991803768.UG.FTS.B,
16.99%,
2/02/25
..
402
406
991844255.UG.FTS.B,
16.99%,
2/02/25
..
4,445
4,528
991867793.UG.FTS.B,
16.99%,
2/02/25
..
34
34
991868233.UG.FTS.B,
16.99%,
2/02/25
..
3,430
3,476
991871017.UG.FTS.B,
16.99%,
2/02/25
..
1,420
1,439
991667408.UG.FTS.B,
17.97%,
2/02/25
..
181
184
991682242.UG.FTS.B,
17.97%,
2/02/25
..
403
409
991689544.UG.FTS.B,
17.97%,
2/02/25
..
151
154
991657130.UG.FTS.B,
17.99%,
2/02/25
..
99
101
991671206.UG.FTS.B,
17.99%,
2/02/25
..
867
873
991683457.UG.FTS.B,
17.99%,
2/02/25
..
47
47
991688111.UG.FTS.B,
17.99%,
2/02/25
..
4
4
991719523.UG.FTS.B,
17.99%,
2/02/25
..
1,017
632
991731323.UG.FTS.B,
17.99%,
2/02/25
..
369
376
991788137.UG.FTS.B,
17.99%,
2/02/25
..
369
376
991817155.UG.FTS.B,
17.99%,
2/02/25
..
0
0
991880297.UG.FTS.B,
17.99%,
2/02/25
..
438
443
991878726.UG.FTS.B,
14.98%,
2/03/25
..
604
612
991676136.UG.FTS.B,
16.99%,
2/03/25
..
551
559
991886549.UG.FTS.B,
16.99%,
2/03/25
..
92
94
991907914.UG.FTS.B,
17.99%,
2/03/25
..
178
180
991861030.UG.FTS.B,
19.21%,
2/03/25
..
88
87
991689885.UG.FTS.B,
19.99%,
2/03/25
..
757
776
991696135.UG.FTS.B,
19.99%,
2/03/25
..
50
49
991714434.UG.FTS.B,
19.99%,
2/03/25
..
458
468
991714848.UG.FTS.B,
19.99%,
2/03/25
..
168
171
991717613.UG.FTS.B,
19.99%,
2/03/25
..
59
58
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991747696.UG.FTS.B,
19.99%,
2/03/25
..
$
458
$
466
991826636.UG.FTS.B,
19.99%,
2/03/25
..
775
777
991859515.UG.FTS.B,
19.99%,
2/03/25
..
304
307
991913936.UG.FTS.B,
21.46%,
2/03/25
..
239
240
991914992.UG.FTS.B,
21.97%,
2/03/25
..
78
78
991702146.UG.FTS.B,
21.98%,
2/03/25
..
405
408
991885990.UG.FTS.B,
21.98%,
2/03/25
..
152
153
991705607.UG.FTS.B,
23.95%,
2/03/25
..
671
666
991676444.UG.FTS.B,
26.94%,
2/03/25
..
111
112
991684537.UG.FTS.B,
27.99%,
2/03/25
..
188
192
991709780.UG.FTS.B,
27.99%,
2/03/25
..
250
30
991744807.UG.FTS.B,
27.99%,
2/03/25
..
230
235
991680701.UG.FTS.B,
28.98%,
2/03/25
..
295
302
991680912.UG.FTS.B,
28.98%,
2/03/25
..
280
(14)
991686623.UG.FTS.B,
28.98%,
2/03/25
..
3,054
3,129
991688155.UG.FTS.B,
28.98%,
2/03/25
..
431
441
991694975.UG.FTS.B,
28.98%,
2/03/25
..
2,041
2,088
991699673.UG.FTS.B,
28.98%,
2/03/25
..
231
233
991700745.UG.FTS.B,
28.98%,
2/03/25
..
4,703
4,809
991704352.UG.FTS.B,
28.98%,
2/03/25
..
440
451
991707660.UG.FTS.B,
28.98%,
2/03/25
..
156
(7)
991708472.UG.FTS.B,
28.98%,
2/03/25
..
92
94
991712501.UG.FTS.B,
28.98%,
2/03/25
..
168
171
991713283.UG.FTS.B,
28.98%,
2/03/25
..
116
114
991713626.UG.FTS.B,
28.98%,
2/03/25
..
228
234
991715244.UG.FTS.B,
28.98%,
2/03/25
..
193
198
991716236.UG.FTS.B,
28.98%,
2/03/25
..
143
147
991716314.UG.FTS.B,
28.98%,
2/03/25
..
2,100
2,142
991717783.UG.FTS.B,
28.98%,
2/03/25
..
56
57
991720594.UG.FTS.B,
28.98%,
2/03/25
..
512
519
991726591.UG.FTS.B,
28.98%,
2/03/25
..
239
241
991743871.UG.FTS.B,
28.98%,
2/03/25
..
292
298
991771151.UG.FTS.B,
28.98%,
2/03/25
..
598
605
991777700.UG.FTS.B,
28.98%,
2/03/25
..
963
971
991813632.UG.FTS.B,
28.98%,
2/03/25
..
1
1
991827774.UG.FTS.B,
28.98%,
2/03/25
..
72
74
991881261.UG.FTS.B,
28.98%,
2/03/25
..
45
45
991882827.UG.FTS.B,
28.98%,
2/03/25
..
211
213
991910619.UG.FTS.B,
28.98%,
2/03/25
..
518
522
991911258.UG.FTS.B,
28.98%,
2/03/25
..
113
113
991911288.UG.FTS.B,
28.98%,
2/03/25
..
92
93
991911379.UG.FTS.B,
28.98%,
2/03/25
..
36
36
991915303.UG.FTS.B,
28.98%,
2/03/25
..
44
44
991916599.UG.FTS.B,
28.98%,
2/03/25
..
110
111
991660241.UG.FTS.B,
29.49%,
2/03/25
..
749
46
991675513.UG.FTS.B,
29.49%,
2/03/25
..
13
13
991675854.UG.FTS.B,
29.49%,
2/03/25
..
271
277
991676586.UG.FTS.B,
29.49%,
2/03/25
..
217
217
991678160.UG.FTS.B,
29.49%,
2/03/25
..
35
35
991678637.UG.FTS.B,
29.49%,
2/03/25
..
205
208
991679875.UG.FTS.B,
29.49%,
2/03/25
..
142
145
991679959.UG.FTS.B,
29.49%,
2/03/25
..
278
(13)
991689327.UG.FTS.B,
29.49%,
2/03/25
..
713
728
991703345.UG.FTS.B,
29.49%,
2/03/25
..
429
439
991711271.UG.FTS.B,
29.49%,
2/03/25
..
45
3
991711847.UG.FTS.B,
29.49%,
2/03/25
..
485
477
991712984.UG.FTS.B,
29.49%,
2/03/25
..
28
12
991716229.UG.FTS.B,
29.49%,
2/03/25
..
6
6
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
160
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991722488.UG.FTS.B,
29.49%,
2/03/25
..
$
224
$
229
991742223.UG.FTS.B,
29.49%,
2/03/25
..
18
18
991747483.UG.FTS.B,
29.49%,
2/03/25
..
598
588
991748169.UG.FTS.B,
29.49%,
2/03/25
..
224
14
991749363.UG.FTS.B,
29.49%,
2/03/25
..
169
(8)
991756506.UG.FTS.B,
29.49%,
2/03/25
..
169
171
991763055.UG.FTS.B,
29.49%,
2/03/25
..
186
190
991769654.UG.FTS.B,
29.49%,
2/03/25
..
73
73
991770245.UG.FTS.B,
29.49%,
2/03/25
..
497
506
991795655.UG.FTS.B,
29.49%,
2/03/25
..
53
53
991803788.UG.FTS.B,
29.49%,
2/03/25
..
42
42
991805657.UG.FTS.B,
29.49%,
2/03/25
..
504
506
991821197.UG.FTS.B,
29.49%,
2/03/25
..
13
13
991852488.UG.FTS.B,
29.49%,
2/03/25
..
162
162
991864584.UG.FTS.B,
29.49%,
2/03/25
..
135
29
991883418.UG.FTS.B,
29.49%,
2/03/25
..
160
161
991891229.UG.FTS.B,
29.49%,
2/03/25
..
25
25
991902227.UG.FTS.B,
29.49%,
2/03/25
..
381
261
991909211.UG.FTS.B,
29.49%,
2/03/25
..
36
35
991909621.UG.FTS.B,
29.49%,
2/03/25
..
23
22
991912447.UG.FTS.B,
29.49%,
2/03/25
..
457
451
991912585.UG.FTS.B,
29.49%,
2/03/25
..
52
53
991916903.UG.FTS.B,
29.49%,
2/03/25
..
252
251
991917239.UG.FTS.B,
29.49%,
2/03/25
..
286
288
991917590.UG.FTS.B,
29.49%,
2/03/25
..
61
17
991918490.UG.FTS.B,
29.49%,
2/03/25
..
212
213
991694525.UG.FTS.B,
14.98%,
2/04/25
..
871
888
991775705.UG.FTS.B,
14.98%,
2/04/25
..
199
203
991871765.UG.FTS.B,
14.98%,
2/04/25
..
310
316
991692937.UG.FTS.B,
15%,
2/04/25
.....
134
135
991717885.UG.FTS.B,
15.97%,
2/04/25
..
1,207
1,232
991728662.UG.FTS.B,
15.97%,
2/04/25
..
1
1
991772223.UG.FTS.B,
15.97%,
2/04/25
..
1,337
1,365
991809306.UG.FTS.B,
15.97%,
2/04/25
..
308
315
991700340.UG.FTS.B,
16.99%,
2/04/25
..
313
318
991713871.UG.FTS.B,
16.99%,
2/04/25
..
15
15
991741062.UG.FTS.B,
16.99%,
2/04/25
..
333
339
991803848.UG.FTS.B,
16.99%,
2/04/25
..
624
637
991809198.UG.FTS.B,
16.99%,
2/04/25
..
574
586
991816473.UG.FTS.B,
16.99%,
2/04/25
..
1,185
1,201
991834171.UG.FTS.B,
16.99%,
2/04/25
..
8,895
9,072
991800894.UG.FTS.B,
17.97%,
2/04/25
..
846
862
991761530.UG.FTS.B,
17.99%,
2/04/25
..
435
443
991807834.UG.FTS.B,
17.99%,
2/04/25
..
181
185
991752793.UG.FTS.B,
18.97%,
2/04/25
..
528
530
991729245.UG.FTS.B,
19.8%,
2/04/25
...
145
147
991685630.UG.FTS.B,
19.99%,
2/04/25
..
492
498
991732723.UG.FTS.B,
19.99%,
2/04/25
..
1,042
1,067
991744504.UG.FTS.B,
19.99%,
2/04/25
..
183
183
991796758.UG.FTS.B,
19.99%,
2/04/25
..
53
52
991889300.UG.FTS.B,
19.99%,
2/04/25
..
184
185
991913677.UG.FTS.B,
19.99%,
2/04/25
..
200
202
991919104.UG.FTS.B,
19.99%,
2/04/25
..
378
250
991703863.UG.FTS.B,
20.46%,
2/04/25
..
505
504
991915319.UG.FTS.B,
20.46%,
2/04/25
..
190
190
991697789.UG.FTS.B,
20.97%,
2/04/25
..
886
899
991687138.UG.FTS.B,
21.46%,
2/04/25
..
36
35
991925637.UG.FTS.B,
21.46%,
2/04/25
..
58
59
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991705959.UG.FTS.B,
21.98%,
2/04/25
..
$
636
$
42
991712275.UG.FTS.B,
22.97%,
2/04/25
..
494
99
991918054.UG.FTS.B,
22.97%,
2/04/25
..
1,789
1,793
991695448.UG.FTS.B,
25.95%,
2/04/25
..
283
284
991724012.UG.FTS.B,
27.99%,
2/04/25
..
245
251
991911625.UG.FTS.B,
27.99%,
2/04/25
..
1,552
1,564
991687579.UG.FTS.B,
28.98%,
2/04/25
..
730
50
991689281.UG.FTS.B,
28.98%,
2/04/25
..
349
345
991696574.UG.FTS.B,
28.98%,
2/04/25
..
157
161
991697057.UG.FTS.B,
28.98%,
2/04/25
..
324
320
991700907.UG.FTS.B,
28.98%,
2/04/25
..
225
231
991702129.UG.FTS.B,
28.98%,
2/04/25
..
62
4
991704302.UG.FTS.B,
28.98%,
2/04/25
..
189
38
991709788.UG.FTS.B,
28.98%,
2/04/25
..
10
10
991713631.UG.FTS.B,
28.98%,
2/04/25
..
120
25
991714612.UG.FTS.B,
28.98%,
2/04/25
..
0
0
991714817.UG.FTS.B,
28.98%,
2/04/25
..
163
166
991714934.UG.FTS.B,
28.98%,
2/04/25
..
412
410
991728564.UG.FTS.B,
28.98%,
2/04/25
..
144
(5)
991735164.UG.FTS.B,
28.98%,
2/04/25
..
1,429
1,419
991736129.UG.FTS.B,
28.98%,
2/04/25
..
119
26
991738402.UG.FTS.B,
28.98%,
2/04/25
..
93
95
991738710.UG.FTS.B,
28.98%,
2/04/25
..
237
243
991754102.UG.FTS.B,
28.98%,
2/04/25
..
43
6
991765630.UG.FTS.B,
28.98%,
2/04/25
..
93
95
991777966.UG.FTS.B,
28.98%,
2/04/25
..
54
45
991784708.UG.FTS.B,
28.98%,
2/04/25
..
206
25
991786787.UG.FTS.B,
28.98%,
2/04/25
..
182
184
991787733.UG.FTS.B,
28.98%,
2/04/25
..
112
113
991805373.UG.FTS.B,
28.98%,
2/04/25
..
139
141
991808487.UG.FTS.B,
28.98%,
2/04/25
..
438
434
991812064.UG.FTS.B,
28.98%,
2/04/25
..
44
44
991821966.UG.FTS.B,
28.98%,
2/04/25
..
15
14
991824710.UG.FTS.B,
28.98%,
2/04/25
..
782
789
991831192.UG.FTS.B,
28.98%,
2/04/25
..
87
6
991836806.UG.FTS.B,
28.98%,
2/04/25
..
132
133
991867830.UG.FTS.B,
28.98%,
2/04/25
..
51
52
991876641.UG.FTS.B,
28.98%,
2/04/25
..
108
107
991900572.UG.FTS.B,
28.98%,
2/04/25
..
118
119
991909297.UG.FTS.B,
28.98%,
2/04/25
..
226
16
991911859.UG.FTS.B,
28.98%,
2/04/25
..
116
117
991914147.UG.FTS.B,
28.98%,
2/04/25
..
229
27
991916161.UG.FTS.B,
28.98%,
2/04/25
..
21
21
991922928.UG.FTS.B,
28.98%,
2/04/25
..
217
218
991926669.UG.FTS.B,
28.98%,
2/04/25
..
86
87
991669669.UG.FTS.B,
29.49%,
2/04/25
..
1,171
1,156
991684601.UG.FTS.B,
29.49%,
2/04/25
..
46
47
991685240.UG.FTS.B,
29.49%,
2/04/25
..
1,477
1,507
991685368.UG.FTS.B,
29.49%,
2/04/25
..
248
53
991686694.UG.FTS.B,
29.49%,
2/04/25
..
196
200
991686783.UG.FTS.B,
29.49%,
2/04/25
..
101
103
991686979.UG.FTS.B,
29.49%,
2/04/25
..
758
772
991687371.UG.FTS.B,
29.49%,
2/04/25
..
199
198
991687443.UG.FTS.B,
29.49%,
2/04/25
..
40
40
991688627.UG.FTS.B,
29.49%,
2/04/25
..
146
144
991693725.UG.FTS.B,
29.49%,
2/04/25
..
409
417
991694653.UG.FTS.B,
29.49%,
2/04/25
..
593
598
991700247.UG.FTS.B,
29.49%,
2/04/25
..
242
243
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
161
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991700295.UG.FTS.B,
29.49%,
2/04/25
..
$
492
$
503
991700897.UG.FTS.B,
29.49%,
2/04/25
..
60
61
991703156.UG.FTS.B,
29.49%,
2/04/25
..
124
122
991703311.UG.FTS.B,
29.49%,
2/04/25
..
212
(10)
991707526.UG.FTS.B,
29.49%,
2/04/25
..
848
833
991708261.UG.FTS.B,
29.49%,
2/04/25
..
749
766
991708603.UG.FTS.B,
29.49%,
2/04/25
..
311
318
991709190.UG.FTS.B,
29.49%,
2/04/25
..
97
99
991711629.UG.FTS.B,
29.49%,
2/04/25
..
1,257
1,284
991713833.UG.FTS.B,
29.49%,
2/04/25
..
762
767
991714621.UG.FTS.B,
29.49%,
2/04/25
..
173
37
991717127.UG.FTS.B,
29.49%,
2/04/25
..
195
200
991717208.UG.FTS.B,
29.49%,
2/04/25
..
464
473
991726663.UG.FTS.B,
29.49%,
2/04/25
..
350
343
991737055.UG.FTS.B,
29.49%,
2/04/25
..
794
798
991738154.UG.FTS.B,
29.49%,
2/04/25
..
224
221
991746074.UG.FTS.B,
29.49%,
2/04/25
..
1,172
822
991756930.UG.FTS.B,
29.49%,
2/04/25
..
411
419
991758431.UG.FTS.B,
29.49%,
2/04/25
..
118
119
991758842.UG.FTS.B,
29.49%,
2/04/25
..
512
515
991763162.UG.FTS.B,
29.49%,
2/04/25
..
109
111
991763796.UG.FTS.B,
29.49%,
2/04/25
..
203
205
991767029.UG.FTS.B,
29.49%,
2/04/25
..
66
66
991769405.UG.FTS.B,
29.49%,
2/04/25
..
51
51
991774935.UG.FTS.B,
29.49%,
2/04/25
..
1,220
1,242
991781478.UG.FTS.B,
29.49%,
2/04/25
..
278
34
991786330.UG.FTS.B,
29.49%,
2/04/25
..
1,220
1,232
991786752.UG.FTS.B,
29.49%,
2/04/25
..
126
128
991788127.UG.FTS.B,
29.49%,
2/04/25
..
3,149
3,148
991807327.UG.FTS.B,
29.49%,
2/04/25
..
256
257
991808732.UG.FTS.B,
29.49%,
2/04/25
..
133
136
991813794.UG.FTS.B,
29.49%,
2/04/25
..
280
276
991814134.UG.FTS.B,
29.49%,
2/04/25
..
46
45
991839430.UG.FTS.B,
29.49%,
2/04/25
..
210
210
991841367.UG.FTS.B,
29.49%,
2/04/25
..
12
12
991847043.UG.FTS.B,
29.49%,
2/04/25
..
790
786
991847289.UG.FTS.B,
29.49%,
2/04/25
..
124
126
991848466.UG.FTS.B,
29.49%,
2/04/25
..
95
97
991849560.UG.FTS.B,
29.49%,
2/04/25
..
102
105
991867247.UG.FTS.B,
29.49%,
2/04/25
..
222
218
991876144.UG.FTS.B,
29.49%,
2/04/25
..
131
132
991878368.UG.FTS.B,
29.49%,
2/04/25
..
225
225
991878459.UG.FTS.B,
29.49%,
2/04/25
..
176
22
991879607.UG.FTS.B,
29.49%,
2/04/25
..
252
251
991884671.UG.FTS.B,
29.49%,
2/04/25
..
89
88
991889761.UG.FTS.B,
29.49%,
2/04/25
..
99
12
991892265.UG.FTS.B,
29.49%,
2/04/25
..
160
(5)
991901138.UG.FTS.B,
29.49%,
2/04/25
..
287
287
991909249.UG.FTS.B,
29.49%,
2/04/25
..
141
142
991910520.UG.FTS.B,
29.49%,
2/04/25
..
217
46
991912907.UG.FTS.B,
29.49%,
2/04/25
..
121
8
991915109.UG.FTS.B,
29.49%,
2/04/25
..
20
19
991915193.UG.FTS.B,
29.49%,
2/04/25
..
107
107
991915888.UG.FTS.B,
29.49%,
2/04/25
..
261
261
991916695.UG.FTS.B,
29.49%,
2/04/25
..
98
22
991916727.UG.FTS.B,
29.49%,
2/04/25
..
74
74
991917180.UG.FTS.B,
29.49%,
2/04/25
..
217
218
991918511.UG.FTS.B,
29.49%,
2/04/25
..
2,289
2,299
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991919432.UG.FTS.B,
29.49%,
2/04/25
..
$
35
$
35
991922941.UG.FTS.B,
29.49%,
2/04/25
..
13
13
991923244.UG.FTS.B,
29.49%,
2/04/25
..
82
5
991923655.UG.FTS.B,
29.49%,
2/04/25
..
44
44
991924956.UG.FTS.B,
29.49%,
2/04/25
..
1
1
991925717.UG.FTS.B,
29.49%,
2/04/25
..
166
166
991712920.UG.FTS.B,
18.97%,
2/05/25
..
–
–
991720650.UG.FTS.B,
18.97%,
2/05/25
..
1,811
1,847
991707817.UG.FTS.B,
19.21%,
2/05/25
..
22
22
991717423.UG.FTS.B,
19.21%,
2/05/25
..
72
73
991788298.UG.FTS.B,
19.21%,
2/05/25
..
271
272
991861184.UG.FTS.B,
19.21%,
2/05/25
..
213
217
991721206.UG.FTS.B,
19.8%,
2/05/25
...
25
25
991787524.UG.FTS.B,
19.8%,
2/05/25
...
0
0
991682958.UG.FTS.B,
19.99%,
2/05/25
..
2,594
2,649
991692919.UG.FTS.B,
19.99%,
2/05/25
..
121
119
991693229.UG.FTS.B,
19.99%,
2/05/25
..
103
105
991693967.UG.FTS.B,
19.99%,
2/05/25
..
258
264
991693994.UG.FTS.B,
19.99%,
2/05/25
..
132
135
991700959.UG.FTS.B,
19.99%,
2/05/25
..
40
35
991705785.UG.FTS.B,
19.99%,
2/05/25
..
338
339
991709370.UG.FTS.B,
19.99%,
2/05/25
..
114
114
991710161.UG.FTS.B,
19.99%,
2/05/25
..
102
103
991719379.UG.FTS.B,
19.99%,
2/05/25
..
258
265
991725525.UG.FTS.B,
19.99%,
2/05/25
..
455
463
991726938.UG.FTS.B,
19.99%,
2/05/25
..
128
131
991735635.UG.FTS.B,
19.99%,
2/05/25
..
129
132
991739604.UG.FTS.B,
19.99%,
2/05/25
..
1,482
1,518
991754294.UG.FTS.B,
19.99%,
2/05/25
..
908
931
991772904.UG.FTS.B,
19.99%,
2/05/25
..
188
193
991783330.UG.FTS.B,
19.99%,
2/05/25
..
170
12
991785468.UG.FTS.B,
19.99%,
2/05/25
..
23
23
991805088.UG.FTS.B,
19.99%,
2/05/25
..
–
–
991809104.UG.FTS.B,
19.99%,
2/05/25
..
–
–
991812813.UG.FTS.B,
19.99%,
2/05/25
..
37
38
991817784.UG.FTS.B,
19.99%,
2/05/25
..
171
172
991831360.UG.FTS.B,
19.99%,
2/05/25
..
859
880
991832671.UG.FTS.B,
19.99%,
2/05/25
..
282
282
991840614.UG.FTS.B,
19.99%,
2/05/25
..
15
15
991855671.UG.FTS.B,
19.99%,
2/05/25
..
65
66
991895791.UG.FTS.B,
19.99%,
2/05/25
..
81
82
991915152.UG.FTS.B,
19.99%,
2/05/25
..
540
534
991915604.UG.FTS.B,
19.99%,
2/05/25
..
17
17
991915773.UG.FTS.B,
19.99%,
2/05/25
..
51
52
991918916.UG.FTS.B,
19.99%,
2/05/25
..
67
66
991930448.UG.FTS.B,
19.99%,
2/05/25
..
34
34
991936396.UG.FTS.B,
19.99%,
2/05/25
..
24
24
991938588.UG.FTS.B,
19.99%,
2/05/25
..
–
–
991713079.UG.FTS.B,
20.46%,
2/05/25
..
563
572
991758665.UG.FTS.B,
20.46%,
2/05/25
..
374
377
991786575.UG.FTS.B,
20.46%,
2/05/25
..
–
–
991841527.UG.FTS.B,
20.46%,
2/05/25
..
1,254
1,271
991707903.UG.FTS.B,
20.97%,
2/05/25
..
140
142
991715134.UG.FTS.B,
20.97%,
2/05/25
..
294
298
991715412.UG.FTS.B,
20.97%,
2/05/25
..
301
305
991832676.UG.FTS.B,
20.97%,
2/05/25
..
11,211
11,374
991835755.UG.FTS.B,
20.97%,
2/05/25
..
536
541
991872851.UG.FTS.B,
20.98%,
2/05/25
..
376
378
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
162
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991693565.UG.FTS.B,
21.46%,
2/05/25
..
$
235
$
234
991798372.UG.FTS.B,
21.46%,
2/05/25
..
578
585
991834692.UG.FTS.B,
21.46%,
2/05/25
..
1,078
1,091
991840414.UG.FTS.B,
21.46%,
2/05/25
..
439
444
991869250.UG.FTS.B,
21.46%,
2/05/25
..
1,747
1,750
991909294.UG.FTS.B,
21.46%,
2/05/25
..
44
44
991910043.UG.FTS.B,
21.46%,
2/05/25
..
1,585
1,587
991721018.UG.FTS.B,
21.98%,
2/05/25
..
786
791
991755283.UG.FTS.B,
21.98%,
2/05/25
..
612
610
991911356.UG.FTS.B,
21.98%,
2/05/25
..
203
203
991708641.UG.FTS.B,
22.97%,
2/05/25
..
749
758
991713571.UG.FTS.B,
22.97%,
2/05/25
..
1,270
1,266
991743501.UG.FTS.B,
22.97%,
2/05/25
..
591
597
991748087.UG.FTS.B,
22.97%,
2/05/25
..
29
30
991783388.UG.FTS.B,
22.97%,
2/05/25
..
452
457
991794589.UG.FTS.B,
22.97%,
2/05/25
..
166
168
991924883.UG.FTS.B,
23.95%,
2/05/25
..
94
21
991703789.UG.FTS.B,
24.95%,
2/05/25
..
223
221
991804301.UG.FTS.B,
25.94%,
2/05/25
..
227
228
991707914.UG.FTS.B,
25.95%,
2/05/25
..
170
171
991743591.UG.FTS.B,
25.95%,
2/05/25
..
437
441
991755942.UG.FTS.B,
26.94%,
2/05/25
..
775
772
991737282.UG.FTS.B,
27.95%,
2/05/25
..
137
140
991693154.UG.FTS.B,
27.99%,
2/05/25
..
73
72
991696029.UG.FTS.B,
27.99%,
2/05/25
..
291
298
991705622.UG.FTS.B,
27.99%,
2/05/25
..
270
276
991706774.UG.FTS.B,
27.99%,
2/05/25
..
35
35
991717022.UG.FTS.B,
27.99%,
2/05/25
..
253
259
991747914.UG.FTS.B,
27.99%,
2/05/25
..
2,971
3,041
991750448.UG.FTS.B,
27.99%,
2/05/25
..
222
218
991806478.UG.FTS.B,
27.99%,
2/05/25
..
51
52
991936016.UG.FTS.B,
27.99%,
2/05/25
..
257
253
991675164.UG.FTS.B,
28.98%,
2/05/25
..
1,612
343
991677817.UG.FTS.B,
28.98%,
2/05/25
..
1,659
1,665
991680083.UG.FTS.B,
28.98%,
2/05/25
..
74
75
991683489.UG.FTS.B,
28.98%,
2/05/25
..
2,620
2,674
991692903.UG.FTS.B,
28.98%,
2/05/25
..
12
12
991693091.UG.FTS.B,
28.98%,
2/05/25
..
200
59
991693710.UG.FTS.B,
28.98%,
2/05/25
..
1,843
223
991693898.UG.FTS.B,
28.98%,
2/05/25
..
62
63
991694863.UG.FTS.B,
28.98%,
2/05/25
..
60
59
991695593.UG.FTS.B,
28.98%,
2/05/25
..
42
42
991696502.UG.FTS.B,
28.98%,
2/05/25
..
801
819
991696534.UG.FTS.B,
28.98%,
2/05/25
..
295
36
991700269.UG.FTS.B,
28.98%,
2/05/25
..
183
188
991702659.UG.FTS.B,
28.98%,
2/05/25
..
609
623
991702705.UG.FTS.B,
28.98%,
2/05/25
..
0
0
991702789.UG.FTS.B,
28.98%,
2/05/25
..
625
637
991702826.UG.FTS.B,
28.98%,
2/05/25
..
149
153
991703007.UG.FTS.B,
28.98%,
2/05/25
..
172
173
991704666.UG.FTS.B,
28.98%,
2/05/25
..
427
438
991704688.UG.FTS.B,
28.98%,
2/05/25
..
9
9
991704721.UG.FTS.B,
28.98%,
2/05/25
..
89
20
991705577.UG.FTS.B,
28.98%,
2/05/25
..
66
65
991705698.UG.FTS.B,
28.98%,
2/05/25
..
91
93
991705736.UG.FTS.B,
28.98%,
2/05/25
..
152
153
991706202.UG.FTS.B,
28.98%,
2/05/25
..
407
417
991706300.UG.FTS.B,
28.98%,
2/05/25
..
380
386
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991706343.UG.FTS.B,
28.98%,
2/05/25
..
$
104
$
103
991706346.UG.FTS.B,
28.98%,
2/05/25
..
2,253
2,308
991706382.UG.FTS.B,
28.98%,
2/05/25
..
173
177
991706721.UG.FTS.B,
28.98%,
2/05/25
..
42
42
991706981.UG.FTS.B,
28.98%,
2/05/25
..
19
19
991707064.UG.FTS.B,
28.98%,
2/05/25
..
784
779
991708055.UG.FTS.B,
28.98%,
2/05/25
..
218
224
991708168.UG.FTS.B,
28.98%,
2/05/25
..
298
299
991708239.UG.FTS.B,
28.98%,
2/05/25
..
206
211
991708288.UG.FTS.B,
28.98%,
2/05/25
..
434
429
991708354.UG.FTS.B,
28.98%,
2/05/25
..
200
198
991708535.UG.FTS.B,
28.98%,
2/05/25
..
48
48
991709411.UG.FTS.B,
28.98%,
2/05/25
..
229
227
991710032.UG.FTS.B,
28.98%,
2/05/25
..
108
106
991710420.UG.FTS.B,
28.98%,
2/05/25
..
522
534
991710514.UG.FTS.B,
28.98%,
2/05/25
..
56
45
991710560.UG.FTS.B,
28.98%,
2/05/25
..
775
794
991711890.UG.FTS.B,
28.98%,
2/05/25
..
540
547
991712219.UG.FTS.B,
28.98%,
2/05/25
..
896
605
991712458.UG.FTS.B,
28.98%,
2/05/25
..
154
154
991713972.UG.FTS.B,
28.98%,
2/05/25
..
339
41
991714493.UG.FTS.B,
28.98%,
2/05/25
..
143
147
991715735.UG.FTS.B,
28.98%,
2/05/25
..
102
71
991716101.UG.FTS.B,
28.98%,
2/05/25
..
225
226
991716179.UG.FTS.B,
28.98%,
2/05/25
..
229
234
991717401.UG.FTS.B,
28.98%,
2/05/25
..
263
268
991717488.UG.FTS.B,
28.98%,
2/05/25
..
214
219
991718026.UG.FTS.B,
28.98%,
2/05/25
..
638
649
991718944.UG.FTS.B,
28.98%,
2/05/25
..
907
929
991719300.UG.FTS.B,
28.98%,
2/05/25
..
91
21
991721024.UG.FTS.B,
28.98%,
2/05/25
..
818
837
991721186.UG.FTS.B,
28.98%,
2/05/25
..
936
199
991724571.UG.FTS.B,
28.98%,
2/05/25
..
203
208
991724730.UG.FTS.B,
28.98%,
2/05/25
..
873
894
991726806.UG.FTS.B,
28.98%,
2/05/25
..
151
152
991728132.UG.FTS.B,
28.98%,
2/05/25
..
887
903
991729399.UG.FTS.B,
28.98%,
2/05/25
..
3,539
767
991729522.UG.FTS.B,
28.98%,
2/05/25
..
73
74
991730611.UG.FTS.B,
28.98%,
2/05/25
..
916
939
991732445.UG.FTS.B,
28.98%,
2/05/25
..
19
17
991732989.UG.FTS.B,
28.98%,
2/05/25
..
371
380
991733966.UG.FTS.B,
28.98%,
2/05/25
..
92
94
991734130.UG.FTS.B,
28.98%,
2/05/25
..
83
85
991734853.UG.FTS.B,
28.98%,
2/05/25
..
133
136
991735560.UG.FTS.B,
28.98%,
2/05/25
..
120
123
991736771.UG.FTS.B,
28.98%,
2/05/25
..
247
250
991737214.UG.FTS.B,
28.98%,
2/05/25
..
212
217
991737532.UG.FTS.B,
28.98%,
2/05/25
..
1,919
1,947
991737652.UG.FTS.B,
28.98%,
2/05/25
..
430
440
991739073.UG.FTS.B,
28.98%,
2/05/25
..
298
302
991739154.UG.FTS.B,
28.98%,
2/05/25
..
3,024
3,099
991739980.UG.FTS.B,
28.98%,
2/05/25
..
367
376
991740474.UG.FTS.B,
28.98%,
2/05/25
..
298
(14)
991742001.UG.FTS.B,
28.98%,
2/05/25
..
90
11
991742979.UG.FTS.B,
28.98%,
2/05/25
..
107
109
991743138.UG.FTS.B,
28.98%,
2/05/25
..
393
(10)
991743526.UG.FTS.B,
28.98%,
2/05/25
..
292
299
991744726.UG.FTS.B,
28.98%,
2/05/25
..
353
349
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
163
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991745601.UG.FTS.B,
28.98%,
2/05/25
..
$
354
$
361
991745801.UG.FTS.B,
28.98%,
2/05/25
..
20
9
991746873.UG.FTS.B,
28.98%,
2/05/25
..
223
227
991747299.UG.FTS.B,
28.98%,
2/05/25
..
105
108
991747647.UG.FTS.B,
28.98%,
2/05/25
..
7
6
991749552.UG.FTS.B,
28.98%,
2/05/25
..
310
66
991751338.UG.FTS.B,
28.98%,
2/05/25
..
65
64
991753087.UG.FTS.B,
28.98%,
2/05/25
..
79
79
991755981.UG.FTS.B,
28.98%,
2/05/25
..
294
301
991759228.UG.FTS.B,
28.98%,
2/05/25
..
64
50
991759687.UG.FTS.B,
28.98%,
2/05/25
..
314
321
991761917.UG.FTS.B,
28.98%,
2/05/25
..
208
213
991762144.UG.FTS.B,
28.98%,
2/05/25
..
201
202
991762262.UG.FTS.B,
28.98%,
2/05/25
..
173
173
991763374.UG.FTS.B,
28.98%,
2/05/25
..
751
52
991764086.UG.FTS.B,
28.98%,
2/05/25
..
90
92
991764922.UG.FTS.B,
28.98%,
2/05/25
..
167
171
991765246.UG.FTS.B,
28.98%,
2/05/25
..
12
12
991769018.UG.FTS.B,
28.98%,
2/05/25
..
346
354
991769355.UG.FTS.B,
28.98%,
2/05/25
..
21
21
991769429.UG.FTS.B,
28.98%,
2/05/25
..
106
109
991772451.UG.FTS.B,
28.98%,
2/05/25
..
1,095
1,122
991773886.UG.FTS.B,
28.98%,
2/05/25
..
836
829
991775732.UG.FTS.B,
28.98%,
2/05/25
..
752
769
991776821.UG.FTS.B,
28.98%,
2/05/25
..
120
123
991776933.UG.FTS.B,
28.98%,
2/05/25
..
372
379
991783383.UG.FTS.B,
28.98%,
2/05/25
..
1,942
1,273
991783771.UG.FTS.B,
28.98%,
2/05/25
..
1,136
1,163
991784786.UG.FTS.B,
28.98%,
2/05/25
..
70
71
991785271.UG.FTS.B,
28.98%,
2/05/25
..
11
11
991788735.UG.FTS.B,
28.98%,
2/05/25
..
487
499
991789109.UG.FTS.B,
28.98%,
2/05/25
..
330
338
991790367.UG.FTS.B,
28.98%,
2/05/25
..
1,586
1,617
991796763.UG.FTS.B,
28.98%,
2/05/25
..
77
78
991796983.UG.FTS.B,
28.98%,
2/05/25
..
32
32
991802238.UG.FTS.B,
28.98%,
2/05/25
..
193
192
991805668.UG.FTS.B,
28.98%,
2/05/25
..
130
132
991807068.UG.FTS.B,
28.98%,
2/05/25
..
409
275
991808450.UG.FTS.B,
28.98%,
2/05/25
..
155
159
991810934.UG.FTS.B,
28.98%,
2/05/25
..
2,277
2,332
991811477.UG.FTS.B,
28.98%,
2/05/25
..
911
933
991813874.UG.FTS.B,
28.98%,
2/05/25
..
152
156
991815656.UG.FTS.B,
28.98%,
2/05/25
..
30
30
991819745.UG.FTS.B,
28.98%,
2/05/25
..
81
82
991819751.UG.FTS.B,
28.98%,
2/05/25
..
786
798
991820191.UG.FTS.B,
28.98%,
2/05/25
..
98
100
991825331.UG.FTS.B,
28.98%,
2/05/25
..
7
7
991829108.UG.FTS.B,
28.98%,
2/05/25
..
795
802
991833246.UG.FTS.B,
28.98%,
2/05/25
..
454
465
991833444.UG.FTS.B,
28.98%,
2/05/25
..
318
322
991833938.UG.FTS.B,
28.98%,
2/05/25
..
118
14
991835118.UG.FTS.B,
28.98%,
2/05/25
..
2,940
2,947
991836188.UG.FTS.B,
28.98%,
2/05/25
..
217
219
991836325.UG.FTS.B,
28.98%,
2/05/25
..
688
692
991836344.UG.FTS.B,
28.98%,
2/05/25
..
178
177
991837760.UG.FTS.B,
28.98%,
2/05/25
..
575
588
991842297.UG.FTS.B,
28.98%,
2/05/25
..
118
121
991842364.UG.FTS.B,
28.98%,
2/05/25
..
1,400
1,421
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991844958.UG.FTS.B,
28.98%,
2/05/25
..
$
905
$
913
991848636.UG.FTS.B,
28.98%,
2/05/25
..
142
10
991851738.UG.FTS.B,
28.98%,
2/05/25
..
39
39
991853185.UG.FTS.B,
28.98%,
2/05/25
..
46
47
991853554.UG.FTS.B,
28.98%,
2/05/25
..
0
0
991853573.UG.FTS.B,
28.98%,
2/05/25
..
907
928
991853603.UG.FTS.B,
28.98%,
2/05/25
..
353
362
991854725.UG.FTS.B,
28.98%,
2/05/25
..
1,277
(59)
991855938.UG.FTS.B,
28.98%,
2/05/25
..
322
330
991857568.UG.FTS.B,
28.98%,
2/05/25
..
498
510
991857619.UG.FTS.B,
28.98%,
2/05/25
..
211
213
991863657.UG.FTS.B,
28.98%,
2/05/25
..
136
139
991865740.UG.FTS.B,
28.98%,
2/05/25
..
122
125
991868870.UG.FTS.B,
28.98%,
2/05/25
..
56
56
991879738.UG.FTS.B,
28.98%,
2/05/25
..
304
306
991881109.UG.FTS.B,
28.98%,
2/05/25
..
166
167
991884917.UG.FTS.B,
28.98%,
2/05/25
..
512
516
991886097.UG.FTS.B,
28.98%,
2/05/25
..
51
52
991886335.UG.FTS.B,
28.98%,
2/05/25
..
359
363
991889830.UG.FTS.B,
28.98%,
2/05/25
..
403
407
991893126.UG.FTS.B,
28.98%,
2/05/25
..
56
57
991894894.UG.FTS.B,
28.98%,
2/05/25
..
1,627
1,642
991897007.UG.FTS.B,
28.98%,
2/05/25
..
138
92
991897083.UG.FTS.B,
28.98%,
2/05/25
..
59
58
991900228.UG.FTS.B,
28.98%,
2/05/25
..
122
16
991900834.UG.FTS.B,
28.98%,
2/05/25
..
35
35
991901365.UG.FTS.B,
28.98%,
2/05/25
..
904
911
991903733.UG.FTS.B,
28.98%,
2/05/25
..
52
53
991908584.UG.FTS.B,
28.98%,
2/05/25
..
113
114
991910714.UG.FTS.B,
28.98%,
2/05/25
..
14
14
991911562.UG.FTS.B,
28.98%,
2/05/25
..
373
374
991914304.UG.FTS.B,
28.98%,
2/05/25
..
144
146
991914967.UG.FTS.B,
28.98%,
2/05/25
..
13
12
991916054.UG.FTS.B,
28.98%,
2/05/25
..
225
(10)
991916809.UG.FTS.B,
28.98%,
2/05/25
..
82
83
991918327.UG.FTS.B,
28.98%,
2/05/25
..
86
87
991918392.UG.FTS.B,
28.98%,
2/05/25
..
138
29
991921265.UG.FTS.B,
28.98%,
2/05/25
..
122
123
991922743.UG.FTS.B,
28.98%,
2/05/25
..
98
100
991935662.UG.FTS.B,
28.98%,
2/05/25
..
27
27
991937156.UG.FTS.B,
28.98%,
2/05/25
..
143
9
991937493.UG.FTS.B,
28.98%,
2/05/25
..
806
813
991937565.UG.FTS.B,
28.98%,
2/05/25
..
342
337
991938119.UG.FTS.B,
28.98%,
2/05/25
..
1,621
1,636
991681542.UG.FTS.B,
29.45%,
2/05/25
..
146
145
991857451.UG.FTS.B,
29.45%,
2/05/25
..
48
47
991896785.UG.FTS.B,
29.47%,
2/05/25
..
4,353
4,372
991692669.UG.FTS.B,
29.48%,
2/05/25
..
647
658
991701928.UG.FTS.B,
29.48%,
2/05/25
..
48
4
991770647.UG.FTS.B,
29.48%,
2/05/25
..
135
132
991680433.UG.FTS.B,
29.49%,
2/05/25
..
290
289
991693084.UG.FTS.B,
29.49%,
2/05/25
..
115
118
991693368.UG.FTS.B,
29.49%,
2/05/25
..
28
28
991694002.UG.FTS.B,
29.49%,
2/05/25
..
56
55
991694063.UG.FTS.B,
29.49%,
2/05/25
..
32
32
991694154.UG.FTS.B,
29.49%,
2/05/25
..
1,107
1,112
991694848.UG.FTS.B,
29.49%,
2/05/25
..
1,417
1,448
991694938.UG.FTS.B,
29.49%,
2/05/25
..
12
12
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
164
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991695320.UG.FTS.B,
29.49%,
2/05/25
..
$
107
$
109
991695596.UG.FTS.B,
29.49%,
2/05/25
..
75
(4)
991695648.UG.FTS.B,
29.49%,
2/05/25
..
201
25
991695683.UG.FTS.B,
29.49%,
2/05/25
..
5
5
991695684.UG.FTS.B,
29.49%,
2/05/25
..
401
399
991695911.UG.FTS.B,
29.49%,
2/05/25
..
44
43
991696008.UG.FTS.B,
29.49%,
2/05/25
..
43
43
991696026.UG.FTS.B,
29.49%,
2/05/25
..
23
23
991696109.UG.FTS.B,
29.49%,
2/05/25
..
66
67
991696191.UG.FTS.B,
29.49%,
2/05/25
..
119
15
991696894.UG.FTS.B,
29.49%,
2/05/25
..
17
17
991697114.UG.FTS.B,
29.49%,
2/05/25
..
244
15
991697129.UG.FTS.B,
29.49%,
2/05/25
..
128
126
991697214.UG.FTS.B,
29.49%,
2/05/25
..
189
193
991697402.UG.FTS.B,
29.49%,
2/05/25
..
253
259
991697674.UG.FTS.B,
29.49%,
2/05/25
..
33
2
991697838.UG.FTS.B,
29.49%,
2/05/25
..
101
22
991698261.UG.FTS.B,
29.49%,
2/05/25
..
130
128
991699635.UG.FTS.B,
29.49%,
2/05/25
..
54
54
991700073.UG.FTS.B,
29.49%,
2/05/25
..
244
250
991700153.UG.FTS.B,
29.49%,
2/05/25
..
459
466
991700408.UG.FTS.B,
29.49%,
2/05/25
..
203
207
991700616.UG.FTS.B,
29.49%,
2/05/25
..
541
(29)
991700758.UG.FTS.B,
29.49%,
2/05/25
..
426
439
991701153.UG.FTS.B,
29.49%,
2/05/25
..
39
3
991701975.UG.FTS.B,
29.49%,
2/05/25
..
163
161
991702103.UG.FTS.B,
29.49%,
2/05/25
..
237
240
991702149.UG.FTS.B,
29.49%,
2/05/25
..
345
351
991702168.UG.FTS.B,
29.49%,
2/05/25
..
0
0
991702693.UG.FTS.B,
29.49%,
2/05/25
..
150
102
991702737.UG.FTS.B,
29.49%,
2/05/25
..
125
27
991703134.UG.FTS.B,
29.49%,
2/05/25
..
88
87
991703611.UG.FTS.B,
29.49%,
2/05/25
..
135
137
991704018.UG.FTS.B,
29.49%,
2/05/25
..
22
22
991704269.UG.FTS.B,
29.49%,
2/05/25
..
134
133
991704411.UG.FTS.B,
29.49%,
2/05/25
..
803
787
991704434.UG.FTS.B,
29.49%,
2/05/25
..
28
2
991704532.UG.FTS.B,
29.49%,
2/05/25
..
369
79
991704974.UG.FTS.B,
29.49%,
2/05/25
..
182
181
991705010.UG.FTS.B,
29.49%,
2/05/25
..
1,294
1,321
991705084.UG.FTS.B,
29.49%,
2/05/25
..
92
94
991705304.UG.FTS.B,
29.49%,
2/05/25
..
940
922
991706770.UG.FTS.B,
29.49%,
2/05/25
..
176
180
991707286.UG.FTS.B,
29.49%,
2/05/25
..
70
71
991707576.UG.FTS.B,
29.49%,
2/05/25
..
116
14
991707666.UG.FTS.B,
29.49%,
2/05/25
..
44
44
991707844.UG.FTS.B,
29.49%,
2/05/25
..
79
78
991708468.UG.FTS.B,
29.49%,
2/05/25
..
528
113
991708918.UG.FTS.B,
29.49%,
2/05/25
..
887
892
991709106.UG.FTS.B,
29.49%,
2/05/25
..
31
32
991709219.UG.FTS.B,
29.49%,
2/05/25
..
94
96
991709454.UG.FTS.B,
29.49%,
2/05/25
..
270
277
991710089.UG.FTS.B,
29.49%,
2/05/25
..
268
267
991710338.UG.FTS.B,
29.49%,
2/05/25
..
75
76
991710782.UG.FTS.B,
29.49%,
2/05/25
..
1,193
1,217
991711354.UG.FTS.B,
29.49%,
2/05/25
..
42
42
991711446.UG.FTS.B,
29.49%,
2/05/25
..
68
68
991711609.UG.FTS.B,
29.49%,
2/05/25
..
321
22
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991712242.UG.FTS.B,
29.49%,
2/05/25
..
$
239
$
241
991713293.UG.FTS.B,
29.49%,
2/05/25
..
148
151
991713639.UG.FTS.B,
29.49%,
2/05/25
..
324
328
991713769.UG.FTS.B,
29.49%,
2/05/25
..
56
57
991714061.UG.FTS.B,
29.49%,
2/05/25
..
32
32
991714180.UG.FTS.B,
29.49%,
2/05/25
..
337
344
991714380.UG.FTS.B,
29.49%,
2/05/25
..
1,256
856
991714508.UG.FTS.B,
29.49%,
2/05/25
..
40
40
991714617.UG.FTS.B,
29.49%,
2/05/25
..
142
141
991714620.UG.FTS.B,
29.49%,
2/05/25
..
382
47
991715331.UG.FTS.B,
29.49%,
2/05/25
..
230
233
991715444.UG.FTS.B,
29.49%,
2/05/25
..
1,095
1,094
991715800.UG.FTS.B,
29.49%,
2/05/25
..
185
190
991716657.UG.FTS.B,
29.49%,
2/05/25
..
63
63
991717220.UG.FTS.B,
29.49%,
2/05/25
..
37
37
991717555.UG.FTS.B,
29.49%,
2/05/25
..
6
6
991718850.UG.FTS.B,
29.49%,
2/05/25
..
801
800
991719235.UG.FTS.B,
29.49%,
2/05/25
..
331
333
991719314.UG.FTS.B,
29.49%,
2/05/25
..
29
29
991719551.UG.FTS.B,
29.49%,
2/05/25
..
274
280
991720302.UG.FTS.B,
29.49%,
2/05/25
..
1,842
1,877
991722607.UG.FTS.B,
29.49%,
2/05/25
..
56
56
991722812.UG.FTS.B,
29.49%,
2/05/25
..
266
273
991722885.UG.FTS.B,
29.49%,
2/05/25
..
385
83
991723913.UG.FTS.B,
29.49%,
2/05/25
..
82
83
991723921.UG.FTS.B,
29.49%,
2/05/25
..
120
122
991724720.UG.FTS.B,
29.49%,
2/05/25
..
211
216
991724744.UG.FTS.B,
29.49%,
2/05/25
..
31
30
991725533.UG.FTS.B,
29.49%,
2/05/25
..
237
241
991725800.UG.FTS.B,
29.49%,
2/05/25
..
287
289
991726118.UG.FTS.B,
29.49%,
2/05/25
..
36
33
991727032.UG.FTS.B,
29.49%,
2/05/25
..
178
182
991727200.UG.FTS.B,
29.49%,
2/05/25
..
335
330
991727290.UG.FTS.B,
29.49%,
2/05/25
..
46
46
991728298.UG.FTS.B,
29.49%,
2/05/25
..
111
114
991728509.UG.FTS.B,
29.49%,
2/05/25
..
92
94
991729131.UG.FTS.B,
29.49%,
2/05/25
..
15
15
991730414.UG.FTS.B,
29.49%,
2/05/25
..
800
792
991731697.UG.FTS.B,
29.49%,
2/05/25
..
234
160
991732180.UG.FTS.B,
29.49%,
2/05/25
..
46
3
991732282.UG.FTS.B,
29.49%,
2/05/25
..
161
164
991732719.UG.FTS.B,
29.49%,
2/05/25
..
275
273
991732976.UG.FTS.B,
29.49%,
2/05/25
..
192
197
991733288.UG.FTS.B,
29.49%,
2/05/25
..
22
22
991733824.UG.FTS.B,
29.49%,
2/05/25
..
1,807
1,846
991734685.UG.FTS.B,
29.49%,
2/05/25
..
135
133
991736873.UG.FTS.B,
29.49%,
2/05/25
..
509
514
991737308.UG.FTS.B,
29.49%,
2/05/25
..
479
478
991738913.UG.FTS.B,
29.49%,
2/05/25
..
42
43
991741465.UG.FTS.B,
29.49%,
2/05/25
..
126
129
991741813.UG.FTS.B,
29.49%,
2/05/25
..
108
110
991741984.UG.FTS.B,
29.49%,
2/05/25
..
370
80
991743309.UG.FTS.B,
29.49%,
2/05/25
..
295
61
991743763.UG.FTS.B,
29.49%,
2/05/25
..
217
26
991743811.UG.FTS.B,
29.49%,
2/05/25
..
112
114
991744524.UG.FTS.B,
29.49%,
2/05/25
..
219
221
991745068.UG.FTS.B,
29.49%,
2/05/25
..
6,442
6,597
991745294.UG.FTS.B,
29.49%,
2/05/25
..
159
163
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
165
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991745434.UG.FTS.B,
29.49%,
2/05/25
..
$
69
$
69
991745495.UG.FTS.B,
29.49%,
2/05/25
..
87
88
991745512.UG.FTS.B,
29.49%,
2/05/25
..
43
3
991745604.UG.FTS.B,
29.49%,
2/05/25
..
112
110
991746165.UG.FTS.B,
29.49%,
2/05/25
..
268
274
991747390.UG.FTS.B,
29.49%,
2/05/25
..
5
5
991747447.UG.FTS.B,
29.49%,
2/05/25
..
704
721
991747616.UG.FTS.B,
29.49%,
2/05/25
..
57
(3)
991747772.UG.FTS.B,
29.49%,
2/05/25
..
118
116
991748176.UG.FTS.B,
29.49%,
2/05/25
..
139
141
991748448.UG.FTS.B,
29.49%,
2/05/25
..
1,324
1,335
991748911.UG.FTS.B,
29.49%,
2/05/25
..
600
42
991750763.UG.FTS.B,
29.49%,
2/05/25
..
359
367
991751122.UG.FTS.B,
29.49%,
2/05/25
..
362
371
991751856.UG.FTS.B,
29.49%,
2/05/25
..
71
72
991752282.UG.FTS.B,
29.49%,
2/05/25
..
355
361
991752383.UG.FTS.B,
29.49%,
2/05/25
..
181
186
991752972.UG.FTS.B,
29.49%,
2/05/25
..
12
12
991753004.UG.FTS.B,
29.49%,
2/05/25
..
299
309
991753363.UG.FTS.B,
29.49%,
2/05/25
..
29
29
991753604.UG.FTS.B,
29.49%,
2/05/25
..
308
315
991754108.UG.FTS.B,
29.49%,
2/05/25
..
155
158
991754505.UG.FTS.B,
29.49%,
2/05/25
..
73
10
991754738.UG.FTS.B,
29.49%,
2/05/25
..
1,449
315
991755735.UG.FTS.B,
29.49%,
2/05/25
..
699
695
991756003.UG.FTS.B,
29.49%,
2/05/25
..
288
295
991756132.UG.FTS.B,
29.49%,
2/05/25
..
172
176
991756904.UG.FTS.B,
29.49%,
2/05/25
..
62
62
991757074.UG.FTS.B,
29.49%,
2/05/25
..
124
126
991757175.UG.FTS.B,
29.49%,
2/05/25
..
0
0
991757533.UG.FTS.B,
29.49%,
2/05/25
..
155
156
991758179.UG.FTS.B,
29.49%,
2/05/25
..
42
3
991759609.UG.FTS.B,
29.49%,
2/05/25
..
17
17
991761070.UG.FTS.B,
29.49%,
2/05/25
..
8
7
991761533.UG.FTS.B,
29.49%,
2/05/25
..
562
557
991766625.UG.FTS.B,
29.49%,
2/05/25
..
190
194
991767013.UG.FTS.B,
29.49%,
2/05/25
..
165
169
991768291.UG.FTS.B,
29.49%,
2/05/25
..
128
130
991768347.UG.FTS.B,
29.49%,
2/05/25
..
13
12
991769834.UG.FTS.B,
29.49%,
2/05/25
..
359
354
991770008.UG.FTS.B,
29.49%,
2/05/25
..
133
133
991770185.UG.FTS.B,
29.49%,
2/05/25
..
149
151
991770513.UG.FTS.B,
29.49%,
2/05/25
..
109
112
991770583.UG.FTS.B,
29.49%,
2/05/25
..
621
628
991775351.UG.FTS.B,
29.49%,
2/05/25
..
841
859
991777615.UG.FTS.B,
29.49%,
2/05/25
..
101
99
991778245.UG.FTS.B,
29.49%,
2/05/25
..
16
16
991779274.UG.FTS.B,
29.49%,
2/05/25
..
61
61
991779367.UG.FTS.B,
29.49%,
2/05/25
..
458
468
991779678.UG.FTS.B,
29.49%,
2/05/25
..
172
175
991781231.UG.FTS.B,
29.49%,
2/05/25
..
49
48
991781254.UG.FTS.B,
29.49%,
2/05/25
..
83
20
991781338.UG.FTS.B,
29.49%,
2/05/25
..
1,072
1,091
991781343.UG.FTS.B,
29.49%,
2/05/25
..
59
60
991781377.UG.FTS.B,
29.49%,
2/05/25
..
611
607
991783476.UG.FTS.B,
29.49%,
2/05/25
..
1,574
1,599
991783713.UG.FTS.B,
29.49%,
2/05/25
..
456
466
991786645.UG.FTS.B,
29.49%,
2/05/25
..
1,035
1,058
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991786827.UG.FTS.B,
29.49%,
2/05/25
..
$
101
$
104
991787593.UG.FTS.B,
29.49%,
2/05/25
..
2,667
175
991788833.UG.FTS.B,
29.49%,
2/05/25
..
428
438
991790182.UG.FTS.B,
29.49%,
2/05/25
..
133
136
991791010.UG.FTS.B,
29.49%,
2/05/25
..
4
4
991792046.UG.FTS.B,
29.49%,
2/05/25
..
93
95
991792427.UG.FTS.B,
29.49%,
2/05/25
..
274
280
991793437.UG.FTS.B,
29.49%,
2/05/25
..
571
378
991794941.UG.FTS.B,
29.49%,
2/05/25
..
37
37
991795036.UG.FTS.B,
29.49%,
2/05/25
..
11
11
991795791.UG.FTS.B,
29.49%,
2/05/25
..
71
72
991796894.UG.FTS.B,
29.49%,
2/05/25
..
770
787
991798321.UG.FTS.B,
29.49%,
2/05/25
..
956
202
991800020.UG.FTS.B,
29.49%,
2/05/25
..
187
40
991805103.UG.FTS.B,
29.49%,
2/05/25
..
141
99
991805106.UG.FTS.B,
29.49%,
2/05/25
..
453
456
991810808.UG.FTS.B,
29.49%,
2/05/25
..
380
26
991811197.UG.FTS.B,
29.49%,
2/05/25
..
309
313
991811424.UG.FTS.B,
29.49%,
2/05/25
..
677
487
991812577.UG.FTS.B,
29.49%,
2/05/25
..
158
34
991812942.UG.FTS.B,
29.49%,
2/05/25
..
63
64
991813904.UG.FTS.B,
29.49%,
2/05/25
..
18
17
991814320.UG.FTS.B,
29.49%,
2/05/25
..
429
285
991814652.UG.FTS.B,
29.49%,
2/05/25
..
100
102
991814933.UG.FTS.B,
29.49%,
2/05/25
..
200
202
991815312.UG.FTS.B,
29.49%,
2/05/25
..
309
316
991815686.UG.FTS.B,
29.49%,
2/05/25
..
141
143
991816202.UG.FTS.B,
29.49%,
2/05/25
..
38
38
991817091.UG.FTS.B,
29.49%,
2/05/25
..
64
9
991819334.UG.FTS.B,
29.49%,
2/05/25
..
462
58
991819739.UG.FTS.B,
29.49%,
2/05/25
..
1,115
1,141
991819909.UG.FTS.B,
29.49%,
2/05/25
..
67
68
991820737.UG.FTS.B,
29.49%,
2/05/25
..
234
234
991820976.UG.FTS.B,
29.49%,
2/05/25
..
528
538
991822456.UG.FTS.B,
29.49%,
2/05/25
..
110
112
991823481.UG.FTS.B,
29.49%,
2/05/25
..
181
185
991826495.UG.FTS.B,
29.49%,
2/05/25
..
49
48
991826970.UG.FTS.B,
29.49%,
2/05/25
..
23
23
991827783.UG.FTS.B,
29.49%,
2/05/25
..
113
24
991830265.UG.FTS.B,
29.49%,
2/05/25
..
16
15
991831731.UG.FTS.B,
29.49%,
2/05/25
..
249
250
991834388.UG.FTS.B,
29.49%,
2/05/25
..
265
270
991834538.UG.FTS.B,
29.49%,
2/05/25
..
279
62
991839936.UG.FTS.B,
29.49%,
2/05/25
..
424
415
991841623.UG.FTS.B,
29.49%,
2/05/25
..
910
927
991841707.UG.FTS.B,
29.49%,
2/05/25
..
17
17
991842723.UG.FTS.B,
29.49%,
2/05/25
..
161
165
991844850.UG.FTS.B,
29.49%,
2/05/25
..
135
139
991845675.UG.FTS.B,
29.49%,
2/05/25
..
146
147
991847860.UG.FTS.B,
29.49%,
2/05/25
..
185
186
991848236.UG.FTS.B,
29.49%,
2/05/25
..
374
26
991850751.UG.FTS.B,
29.49%,
2/05/25
..
260
266
991853314.UG.FTS.B,
29.49%,
2/05/25
..
155
155
991857355.UG.FTS.B,
29.49%,
2/05/25
..
131
133
991857557.UG.FTS.B,
29.49%,
2/05/25
..
71
70
991857721.UG.FTS.B,
29.49%,
2/05/25
..
111
73
991857915.UG.FTS.B,
29.49%,
2/05/25
..
508
509
991860099.UG.FTS.B,
29.49%,
2/05/25
..
94
92
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
166
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991860989.UG.FTS.B,
29.49%,
2/05/25
..
$
97
$
(5)
991862114.UG.FTS.B,
29.49%,
2/05/25
..
46
(2)
991862214.UG.FTS.B,
29.49%,
2/05/25
..
67
68
991863815.UG.FTS.B,
29.49%,
2/05/25
..
295
(14)
991865130.UG.FTS.B,
29.49%,
2/05/25
..
609
608
991865694.UG.FTS.B,
29.49%,
2/05/25
..
189
129
991871757.UG.FTS.B,
29.49%,
2/05/25
..
113
110
991872236.UG.FTS.B,
29.49%,
2/05/25
..
293
298
991872516.UG.FTS.B,
29.49%,
2/05/25
..
42
42
991872591.UG.FTS.B,
29.49%,
2/05/25
..
19
19
991875302.UG.FTS.B,
29.49%,
2/05/25
..
134
135
991880803.UG.FTS.B,
29.49%,
2/05/25
..
72
72
991883714.UG.FTS.B,
29.49%,
2/05/25
..
30
30
991884966.UG.FTS.B,
29.49%,
2/05/25
..
292
293
991887118.UG.FTS.B,
29.49%,
2/05/25
..
14
2
991887195.UG.FTS.B,
29.49%,
2/05/25
..
106
78
991891596.UG.FTS.B,
29.49%,
2/05/25
..
63
64
991892017.UG.FTS.B,
29.49%,
2/05/25
..
8
8
991896775.UG.FTS.B,
29.49%,
2/05/25
..
133
133
991898216.UG.FTS.B,
29.49%,
2/05/25
..
294
(14)
991898315.UG.FTS.B,
29.49%,
2/05/25
..
271
273
991899621.UG.FTS.B,
29.49%,
2/05/25
..
127
9
991900161.UG.FTS.B,
29.49%,
2/05/25
..
31
31
991900261.UG.FTS.B,
29.49%,
2/05/25
..
203
203
991902380.UG.FTS.B,
29.49%,
2/05/25
..
52
52
991902591.UG.FTS.B,
29.49%,
2/05/25
..
413
413
991904220.UG.FTS.B,
29.49%,
2/05/25
..
19
19
991906360.UG.FTS.B,
29.49%,
2/05/25
..
167
168
991906894.UG.FTS.B,
29.49%,
2/05/25
..
8
8
991907497.UG.FTS.B,
29.49%,
2/05/25
..
720
467
991907892.UG.FTS.B,
29.49%,
2/05/25
..
81
79
991908115.UG.FTS.B,
29.49%,
2/05/25
..
86
88
991908155.UG.FTS.B,
29.49%,
2/05/25
..
307
307
991908665.UG.FTS.B,
29.49%,
2/05/25
..
316
316
991909242.UG.FTS.B,
29.49%,
2/05/25
..
42
14
991915996.UG.FTS.B,
29.49%,
2/05/25
..
10
10
991917308.UG.FTS.B,
29.49%,
2/05/25
..
278
279
991917746.UG.FTS.B,
29.49%,
2/05/25
..
156
155
991919187.UG.FTS.B,
29.49%,
2/05/25
..
247
247
991920123.UG.FTS.B,
29.49%,
2/05/25
..
54
55
991920849.UG.FTS.B,
29.49%,
2/05/25
..
214
44
991921228.UG.FTS.B,
29.49%,
2/05/25
..
86
87
991923291.UG.FTS.B,
29.49%,
2/05/25
..
64
9
991923888.UG.FTS.B,
29.49%,
2/05/25
..
31
31
991924046.UG.FTS.B,
29.49%,
2/05/25
..
21
21
991924454.UG.FTS.B,
29.49%,
2/05/25
..
13
13
991925238.UG.FTS.B,
29.49%,
2/05/25
..
66
65
991925421.UG.FTS.B,
29.49%,
2/05/25
..
91
90
991927325.UG.FTS.B,
29.49%,
2/05/25
..
30
30
991929728.UG.FTS.B,
29.49%,
2/05/25
..
727
730
991931394.UG.FTS.B,
29.49%,
2/05/25
..
9
9
991934337.UG.FTS.B,
29.49%,
2/05/25
..
74
74
991936527.UG.FTS.B,
29.49%,
2/05/25
..
35
13
991937053.UG.FTS.B,
29.49%,
2/05/25
..
451
454
991937470.UG.FTS.B,
29.49%,
2/05/25
..
94
70
991938113.UG.FTS.B,
29.49%,
2/05/25
..
451
454
991692513.UG.FTS.B,
29.99%,
2/05/25
..
2,038
2,048
991822957.UG.FTS.B,
14%,
2/06/25
.....
574
586
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991945741.UG.FTS.B,
15.97%,
2/06/25
..
$
518
$
526
991941061.UG.FTS.B,
17.99%,
2/06/25
..
443
449
991700171.UG.FTS.B,
18.97%,
2/06/25
..
649
660
991705387.UG.FTS.B,
18.97%,
2/06/25
..
3,702
3,771
991710536.UG.FTS.B,
18.97%,
2/06/25
..
797
811
991762048.UG.FTS.B,
18.97%,
2/06/25
..
179
182
991789990.UG.FTS.B,
18.97%,
2/06/25
..
759
773
991810503.UG.FTS.B,
18.97%,
2/06/25
..
1,343
1,368
991873192.UG.FTS.B,
18.97%,
2/06/25
..
144
147
991699734.UG.FTS.B,
19.21%,
2/06/25
..
320
325
991716319.UG.FTS.B,
19.21%,
2/06/25
..
615
626
991786750.UG.FTS.B,
19.21%,
2/06/25
..
234
239
991820502.UG.FTS.B,
19.21%,
2/06/25
..
35
34
991854466.UG.FTS.B,
19.21%,
2/06/25
..
447
455
991883800.UG.FTS.B,
19.21%,
2/06/25
..
1,288
1,302
991701533.UG.FTS.B,
19.8%,
2/06/25
...
358
364
991710752.UG.FTS.B,
19.8%,
2/06/25
...
489
497
991721799.UG.FTS.B,
19.8%,
2/06/25
...
1,258
1,266
991723663.UG.FTS.B,
19.8%,
2/06/25
...
965
981
991724397.UG.FTS.B,
19.8%,
2/06/25
...
130
130
991724990.UG.FTS.B,
19.8%,
2/06/25
...
166
169
991725148.UG.FTS.B,
19.8%,
2/06/25
...
94
95
991734064.UG.FTS.B,
19.8%,
2/06/25
...
3,008
558
991754615.UG.FTS.B,
19.8%,
2/06/25
...
1
1
991689655.UG.FTS.B,
19.99%,
2/06/25
..
1,346
1,380
991698898.UG.FTS.B,
19.99%,
2/06/25
..
1,678
1,714
991701103.UG.FTS.B,
19.99%,
2/06/25
..
197
14
991701760.UG.FTS.B,
19.99%,
2/06/25
..
84
85
991709462.UG.FTS.B,
19.99%,
2/06/25
..
18
17
991710118.UG.FTS.B,
19.99%,
2/06/25
..
499
35
991711306.UG.FTS.B,
19.99%,
2/06/25
..
107
109
991716026.UG.FTS.B,
19.99%,
2/06/25
..
45
3
991725114.UG.FTS.B,
19.99%,
2/06/25
..
424
433
991725688.UG.FTS.B,
19.99%,
2/06/25
..
63
64
991742036.UG.FTS.B,
19.99%,
2/06/25
..
719
142
991747737.UG.FTS.B,
19.99%,
2/06/25
..
605
43
991748014.UG.FTS.B,
19.99%,
2/06/25
..
90
89
991752021.UG.FTS.B,
19.99%,
2/06/25
..
390
399
991755348.UG.FTS.B,
19.99%,
2/06/25
..
135
138
991767533.UG.FTS.B,
19.99%,
2/06/25
..
110
112
991802156.UG.FTS.B,
19.99%,
2/06/25
..
920
182
991853035.UG.FTS.B,
19.99%,
2/06/25
..
506
506
991883651.UG.FTS.B,
19.99%,
2/06/25
..
8
8
991919722.UG.FTS.B,
19.99%,
2/06/25
..
60
61
991938218.UG.FTS.B,
19.99%,
2/06/25
..
801
809
991710953.UG.FTS.B,
20.46%,
2/06/25
..
170
173
991712370.UG.FTS.B,
20.46%,
2/06/25
..
150
152
991714002.UG.FTS.B,
20.46%,
2/06/25
..
935
950
991720350.UG.FTS.B,
20.46%,
2/06/25
..
271
275
991721249.UG.FTS.B,
20.46%,
2/06/25
..
226
229
991754233.UG.FTS.B,
20.46%,
2/06/25
..
220
223
991784049.UG.FTS.B,
20.46%,
2/06/25
..
9,643
654
991801256.UG.FTS.B,
20.46%,
2/06/25
..
539
548
991829259.UG.FTS.B,
20.46%,
2/06/25
..
233
236
991863415.UG.FTS.B,
20.46%,
2/06/25
..
984
1,000
991879525.UG.FTS.B,
20.46%,
2/06/25
..
40
40
991915062.UG.FTS.B,
20.46%,
2/06/25
..
214
216
991718934.UG.FTS.B,
20.97%,
2/06/25
..
363
369
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
167
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991699332.UG.FTS.B,
21.46%,
2/06/25
..
$
1,208
$
1,221
991714495.UG.FTS.B,
21.46%,
2/06/25
..
128
129
991728603.UG.FTS.B,
21.46%,
2/06/25
..
62
5
991746397.UG.FTS.B,
21.46%,
2/06/25
..
165
165
991751167.UG.FTS.B,
21.46%,
2/06/25
..
49
49
991820455.UG.FTS.B,
21.46%,
2/06/25
..
437
443
991860678.UG.FTS.B,
21.46%,
2/06/25
..
138
139
991907835.UG.FTS.B,
21.46%,
2/06/25
..
393
395
991907895.UG.FTS.B,
21.97%,
2/06/25
..
6,214
6,216
991726288.UG.FTS.B,
21.98%,
2/06/25
..
233
236
991741410.UG.FTS.B,
21.98%,
2/06/25
..
390
394
991773383.UG.FTS.B,
21.98%,
2/06/25
..
722
461
991792953.UG.FTS.B,
21.98%,
2/06/25
..
4,517
4,578
991807809.UG.FTS.B,
21.98%,
2/06/25
..
3,371
3,372
991845918.UG.FTS.B,
21.98%,
2/06/25
..
438
438
991869067.UG.FTS.B,
21.98%,
2/06/25
..
915
926
991922957.UG.FTS.B,
21.98%,
2/06/25
..
264
264
991793250.UG.FTS.B,
22.95%,
2/06/25
..
509
(10)
991713412.UG.FTS.B,
22.97%,
2/06/25
..
65
65
991730286.UG.FTS.B,
22.97%,
2/06/25
..
4,573
4,634
991768595.UG.FTS.B,
22.97%,
2/06/25
..
92
93
991871370.UG.FTS.B,
22.97%,
2/06/25
..
7,411
7,493
991897550.UG.FTS.B,
22.97%,
2/06/25
..
1,120
1,124
991927310.UG.FTS.B,
22.97%,
2/06/25
..
72
73
991740335.UG.FTS.B,
23.95%,
2/06/25
..
1,175
1,186
991769602.UG.FTS.B,
23.95%,
2/06/25
..
1,333
1,344
991773651.UG.FTS.B,
23.95%,
2/06/25
..
680
686
991793223.UG.FTS.B,
23.95%,
2/06/25
..
726
726
991916415.UG.FTS.B,
23.95%,
2/06/25
..
43
44
991936216.UG.FTS.B,
23.95%,
2/06/25
..
89
89
991700777.UG.FTS.B,
24.95%,
2/06/25
..
31
2
991892879.UG.FTS.B,
25.94%,
2/06/25
..
64
64
991699886.UG.FTS.B,
26.94%,
2/06/25
..
333
40
991832916.UG.FTS.B,
26.94%,
2/06/25
..
700
5
991733615.UG.FTS.B,
27.95%,
2/06/25
..
1,442
1,458
991690190.UG.FTS.B,
27.99%,
2/06/25
..
2,882
352
991703334.UG.FTS.B,
27.99%,
2/06/25
..
426
437
991714465.UG.FTS.B,
27.99%,
2/06/25
..
25
25
991759445.UG.FTS.B,
27.99%,
2/06/25
..
303
310
991765902.UG.FTS.B,
27.99%,
2/06/25
..
951
973
991830443.UG.FTS.B,
27.99%,
2/06/25
..
158
162
991842368.UG.FTS.B,
27.99%,
2/06/25
..
279
57
991851167.UG.FTS.B,
27.99%,
2/06/25
..
86
88
991691439.UG.FTS.B,
28.98%,
2/06/25
..
1,213
1,214
991691947.UG.FTS.B,
28.98%,
2/06/25
..
1,996
2,051
991699864.UG.FTS.B,
28.98%,
2/06/25
..
2,365
2,423
991699874.UG.FTS.B,
28.98%,
2/06/25
..
25
25
991700105.UG.FTS.B,
28.98%,
2/06/25
..
127
130
991700313.UG.FTS.B,
28.98%,
2/06/25
..
174
178
991700622.UG.FTS.B,
28.98%,
2/06/25
..
228
234
991701200.UG.FTS.B,
28.98%,
2/06/25
..
117
120
991701698.UG.FTS.B,
28.98%,
2/06/25
..
229
230
991702034.UG.FTS.B,
28.98%,
2/06/25
..
16
16
991702178.UG.FTS.B,
28.98%,
2/06/25
..
124
127
991702303.UG.FTS.B,
28.98%,
2/06/25
..
165
163
991703127.UG.FTS.B,
28.98%,
2/06/25
..
618
631
991703634.UG.FTS.B,
28.98%,
2/06/25
..
355
363
991704099.UG.FTS.B,
28.98%,
2/06/25
..
293
301
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991705083.UG.FTS.B,
28.98%,
2/06/25
..
$
125
$
27
991705630.UG.FTS.B,
28.98%,
2/06/25
..
29
29
991705923.UG.FTS.B,
28.98%,
2/06/25
..
282
35
991705947.UG.FTS.B,
28.98%,
2/06/25
..
47
40
991706049.UG.FTS.B,
28.98%,
2/06/25
..
209
210
991706891.UG.FTS.B,
28.98%,
2/06/25
..
106
109
991707488.UG.FTS.B,
28.98%,
2/06/25
..
509
504
991707490.UG.FTS.B,
28.98%,
2/06/25
..
330
338
991707890.UG.FTS.B,
28.98%,
2/06/25
..
99
22
991707982.UG.FTS.B,
28.98%,
2/06/25
..
116
8
991708571.UG.FTS.B,
28.98%,
2/06/25
..
295
303
991708764.UG.FTS.B,
28.98%,
2/06/25
..
39
3
991709000.UG.FTS.B,
28.98%,
2/06/25
..
256
262
991709010.UG.FTS.B,
28.98%,
2/06/25
..
615
628
991709238.UG.FTS.B,
28.98%,
2/06/25
..
204
209
991710098.UG.FTS.B,
28.98%,
2/06/25
..
142
146
991710180.UG.FTS.B,
28.98%,
2/06/25
..
92
91
991710683.UG.FTS.B,
28.98%,
2/06/25
..
30
30
991711651.UG.FTS.B,
28.98%,
2/06/25
..
151
154
991711745.UG.FTS.B,
28.98%,
2/06/25
..
194
199
991712375.UG.FTS.B,
28.98%,
2/06/25
..
292
293
991712875.UG.FTS.B,
28.98%,
2/06/25
..
98
100
991713622.UG.FTS.B,
28.98%,
2/06/25
..
294
36
991713874.UG.FTS.B,
28.98%,
2/06/25
..
55
(2)
991715031.UG.FTS.B,
28.98%,
2/06/25
..
69
70
991715578.UG.FTS.B,
28.98%,
2/06/25
..
104
23
991715996.UG.FTS.B,
28.98%,
2/06/25
..
7
7
991716099.UG.FTS.B,
28.98%,
2/06/25
..
88
87
991716198.UG.FTS.B,
28.98%,
2/06/25
..
64
63
991716238.UG.FTS.B,
28.98%,
2/06/25
..
220
47
991716642.UG.FTS.B,
28.98%,
2/06/25
..
75
10
991717052.UG.FTS.B,
28.98%,
2/06/25
..
577
591
991717387.UG.FTS.B,
28.98%,
2/06/25
..
7
7
991718117.UG.FTS.B,
28.98%,
2/06/25
..
2,000
138
991718507.UG.FTS.B,
28.98%,
2/06/25
..
266
272
991718999.UG.FTS.B,
28.98%,
2/06/25
..
276
274
991719099.UG.FTS.B,
28.98%,
2/06/25
..
1,320
163
991720359.UG.FTS.B,
28.98%,
2/06/25
..
129
133
991722251.UG.FTS.B,
28.98%,
2/06/25
..
479
312
991724096.UG.FTS.B,
28.98%,
2/06/25
..
218
223
991725784.UG.FTS.B,
28.98%,
2/06/25
..
193
198
991725860.UG.FTS.B,
28.98%,
2/06/25
..
105
107
991726289.UG.FTS.B,
28.98%,
2/06/25
..
153
156
991726688.UG.FTS.B,
28.98%,
2/06/25
..
114
116
991728368.UG.FTS.B,
28.98%,
2/06/25
..
6
6
991728916.UG.FTS.B,
28.98%,
2/06/25
..
195
198
991729001.UG.FTS.B,
28.98%,
2/06/25
..
98
12
991729192.UG.FTS.B,
28.98%,
2/06/25
..
764
782
991729721.UG.FTS.B,
28.98%,
2/06/25
..
472
478
991731064.UG.FTS.B,
28.98%,
2/06/25
..
156
160
991731987.UG.FTS.B,
28.98%,
2/06/25
..
365
368
991732224.UG.FTS.B,
28.98%,
2/06/25
..
748
740
991733686.UG.FTS.B,
28.98%,
2/06/25
..
216
221
991734751.UG.FTS.B,
28.98%,
2/06/25
..
1,278
1,295
991734815.UG.FTS.B,
28.98%,
2/06/25
..
270
276
991735985.UG.FTS.B,
28.98%,
2/06/25
..
2,091
2,142
991736387.UG.FTS.B,
28.98%,
2/06/25
..
138
138
991736719.UG.FTS.B,
28.98%,
2/06/25
..
294
305
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
168
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991736995.UG.FTS.B,
28.98%,
2/06/25
..
$
7
$
6
991737065.UG.FTS.B,
28.98%,
2/06/25
..
244
250
991737546.UG.FTS.B,
28.98%,
2/06/25
..
545
555
991738197.UG.FTS.B,
28.98%,
2/06/25
..
108
109
991738225.UG.FTS.B,
28.98%,
2/06/25
..
207
131
991739880.UG.FTS.B,
28.98%,
2/06/25
..
185
189
991740319.UG.FTS.B,
28.98%,
2/06/25
..
635
648
991740410.UG.FTS.B,
28.98%,
2/06/25
..
183
188
991741472.UG.FTS.B,
28.98%,
2/06/25
..
267
181
991742233.UG.FTS.B,
28.98%,
2/06/25
..
11
10
991742281.UG.FTS.B,
28.98%,
2/06/25
..
203
202
991742629.UG.FTS.B,
28.98%,
2/06/25
..
1,184
(50)
991743323.UG.FTS.B,
28.98%,
2/06/25
..
158
162
991743445.UG.FTS.B,
28.98%,
2/06/25
..
246
252
991744380.UG.FTS.B,
28.98%,
2/06/25
..
405
401
991744500.UG.FTS.B,
28.98%,
2/06/25
..
99
100
991745127.UG.FTS.B,
28.98%,
2/06/25
..
24
23
991745719.UG.FTS.B,
28.98%,
2/06/25
..
338
346
991746697.UG.FTS.B,
28.98%,
2/06/25
..
1,249
1,279
991748713.UG.FTS.B,
28.98%,
2/06/25
..
1,579
1,576
991749171.UG.FTS.B,
28.98%,
2/06/25
..
1,459
1,480
991750190.UG.FTS.B,
28.98%,
2/06/25
..
1,069
1,054
991750900.UG.FTS.B,
28.98%,
2/06/25
..
53
53
991751750.UG.FTS.B,
28.98%,
2/06/25
..
272
272
991752424.UG.FTS.B,
28.98%,
2/06/25
..
152
156
991752920.UG.FTS.B,
28.98%,
2/06/25
..
7
7
991753935.UG.FTS.B,
28.98%,
2/06/25
..
661
669
991755479.UG.FTS.B,
28.98%,
2/06/25
..
382
391
991756671.UG.FTS.B,
28.98%,
2/06/25
..
1,563
1,023
991756880.UG.FTS.B,
28.98%,
2/06/25
..
71
71
991756884.UG.FTS.B,
28.98%,
2/06/25
..
325
332
991757545.UG.FTS.B,
28.98%,
2/06/25
..
195
128
991758045.UG.FTS.B,
28.98%,
2/06/25
..
761
780
991758100.UG.FTS.B,
28.98%,
2/06/25
..
78
80
991760146.UG.FTS.B,
28.98%,
2/06/25
..
39
39
991760751.UG.FTS.B,
28.98%,
2/06/25
..
22
22
991762162.UG.FTS.B,
28.98%,
2/06/25
..
297
304
991762368.UG.FTS.B,
28.98%,
2/06/25
..
334
341
991763442.UG.FTS.B,
28.98%,
2/06/25
..
53
54
991765550.UG.FTS.B,
28.98%,
2/06/25
..
3
3
991765700.UG.FTS.B,
28.98%,
2/06/25
..
146
31
991766105.UG.FTS.B,
28.98%,
2/06/25
..
511
523
991766220.UG.FTS.B,
28.98%,
2/06/25
..
42
3
991766305.UG.FTS.B,
28.98%,
2/06/25
..
500
512
991766721.UG.FTS.B,
28.98%,
2/06/25
..
1,214
1,243
991770800.UG.FTS.B,
28.98%,
2/06/25
..
147
151
991773150.UG.FTS.B,
28.98%,
2/06/25
..
114
117
991773209.UG.FTS.B,
28.98%,
2/06/25
..
274
281
991773450.UG.FTS.B,
28.98%,
2/06/25
..
638
634
991773829.UG.FTS.B,
28.98%,
2/06/25
..
133
137
991776146.UG.FTS.B,
28.98%,
2/06/25
..
250
256
991777528.UG.FTS.B,
28.98%,
2/06/25
..
1,257
1,288
991779405.UG.FTS.B,
28.98%,
2/06/25
..
131
134
991780600.UG.FTS.B,
28.98%,
2/06/25
..
–
–
991781129.UG.FTS.B,
28.98%,
2/06/25
..
97
67
991787120.UG.FTS.B,
28.98%,
2/06/25
..
21
21
991787293.UG.FTS.B,
28.98%,
2/06/25
..
145
147
991790950.UG.FTS.B,
28.98%,
2/06/25
..
1,328
1,360
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991793041.UG.FTS.B,
28.98%,
2/06/25
..
$
51
$
43
991794977.UG.FTS.B,
28.98%,
2/06/25
..
108
111
991795976.UG.FTS.B,
28.98%,
2/06/25
..
114
24
991805892.UG.FTS.B,
28.98%,
2/06/25
..
281
185
991811061.UG.FTS.B,
28.98%,
2/06/25
..
1,365
1,398
991813823.UG.FTS.B,
28.98%,
2/06/25
..
187
191
991815125.UG.FTS.B,
28.98%,
2/06/25
..
1,425
1,438
991815323.UG.FTS.B,
28.98%,
2/06/25
..
113
115
991815975.UG.FTS.B,
28.98%,
2/06/25
..
535
548
991817047.UG.FTS.B,
28.98%,
2/06/25
..
841
862
991817713.UG.FTS.B,
28.98%,
2/06/25
..
899
916
991820156.UG.FTS.B,
28.98%,
2/06/25
..
933
956
991823294.UG.FTS.B,
28.98%,
2/06/25
..
332
338
991823324.UG.FTS.B,
28.98%,
2/06/25
..
1,742
1,745
991826493.UG.FTS.B,
28.98%,
2/06/25
..
120
122
991826871.UG.FTS.B,
28.98%,
2/06/25
..
38
39
991830029.UG.FTS.B,
28.98%,
2/06/25
..
18
18
991832318.UG.FTS.B,
28.98%,
2/06/25
..
127
130
991832752.UG.FTS.B,
28.98%,
2/06/25
..
682
699
991834196.UG.FTS.B,
28.98%,
2/06/25
..
185
187
991836050.UG.FTS.B,
28.98%,
2/06/25
..
273
279
991836125.UG.FTS.B,
28.98%,
2/06/25
..
868
889
991836302.UG.FTS.B,
28.98%,
2/06/25
..
595
41
991837625.UG.FTS.B,
28.98%,
2/06/25
..
175
175
991839546.UG.FTS.B,
28.98%,
2/06/25
..
18
18
991842664.UG.FTS.B,
28.98%,
2/06/25
..
178
182
991846276.UG.FTS.B,
28.98%,
2/06/25
..
85
87
991848649.UG.FTS.B,
28.98%,
2/06/25
..
7
7
991850883.UG.FTS.B,
28.98%,
2/06/25
..
453
464
991851940.UG.FTS.B,
28.98%,
2/06/25
..
35
35
991852569.UG.FTS.B,
28.98%,
2/06/25
..
90
92
991854897.UG.FTS.B,
28.98%,
2/06/25
..
686
146
991855239.UG.FTS.B,
28.98%,
2/06/25
..
734
733
991857509.UG.FTS.B,
28.98%,
2/06/25
..
200
42
991861556.UG.FTS.B,
28.98%,
2/06/25
..
194
196
991862138.UG.FTS.B,
28.98%,
2/06/25
..
31
31
991862866.UG.FTS.B,
28.98%,
2/06/25
..
3,597
3,630
991863321.UG.FTS.B,
28.98%,
2/06/25
..
272
279
991867036.UG.FTS.B,
28.98%,
2/06/25
..
67
68
991867184.UG.FTS.B,
28.98%,
2/06/25
..
129
132
991868227.UG.FTS.B,
28.98%,
2/06/25
..
780
798
991868577.UG.FTS.B,
28.98%,
2/06/25
..
253
259
991871855.UG.FTS.B,
28.98%,
2/06/25
..
125
128
991878519.UG.FTS.B,
28.98%,
2/06/25
..
78
79
991882701.UG.FTS.B,
28.98%,
2/06/25
..
240
(10)
991893183.UG.FTS.B,
28.98%,
2/06/25
..
30
30
991896380.UG.FTS.B,
28.98%,
2/06/25
..
6,776
6,780
991908332.UG.FTS.B,
28.98%,
2/06/25
..
52
53
991910683.UG.FTS.B,
28.98%,
2/06/25
..
85
87
991912584.UG.FTS.B,
28.98%,
2/06/25
..
451
455
991914850.UG.FTS.B,
28.98%,
2/06/25
..
242
243
991917174.UG.FTS.B,
28.98%,
2/06/25
..
226
228
991917177.UG.FTS.B,
28.98%,
2/06/25
..
271
273
991917185.UG.FTS.B,
28.98%,
2/06/25
..
208
208
991919417.UG.FTS.B,
28.98%,
2/06/25
..
167
168
991926157.UG.FTS.B,
28.98%,
2/06/25
..
243
245
991928832.UG.FTS.B,
28.98%,
2/06/25
..
144
9
991930551.UG.FTS.B,
28.98%,
2/06/25
..
405
409
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
169
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991933531.UG.FTS.B,
28.98%,
2/06/25
..
$
69
$
5
991934063.UG.FTS.B,
28.98%,
2/06/25
..
96
98
991704035.UG.FTS.B,
29.45%,
2/06/25
..
288
295
991742902.UG.FTS.B,
29.45%,
2/06/25
..
582
40
991848757.UG.FTS.B,
29.45%,
2/06/25
..
2,869
2,942
991712510.UG.FTS.B,
29.47%,
2/06/25
..
326
334
991734284.UG.FTS.B,
29.48%,
2/06/25
..
106
7
991830702.UG.FTS.B,
29.48%,
2/06/25
..
166
169
991690486.UG.FTS.B,
29.49%,
2/06/25
..
1,336
1,338
991690939.UG.FTS.B,
29.49%,
2/06/25
..
1,381
1,414
991699172.UG.FTS.B,
29.49%,
2/06/25
..
697
712
991699796.UG.FTS.B,
29.49%,
2/06/25
..
116
118
991700095.UG.FTS.B,
29.49%,
2/06/25
..
272
276
991700490.UG.FTS.B,
29.49%,
2/06/25
..
173
12
991700916.UG.FTS.B,
29.49%,
2/06/25
..
1,496
1,532
991700980.UG.FTS.B,
29.49%,
2/06/25
..
600
599
991701070.UG.FTS.B,
29.49%,
2/06/25
..
105
107
991701181.UG.FTS.B,
29.49%,
2/06/25
..
321
20
991701366.UG.FTS.B,
29.49%,
2/06/25
..
707
723
991701414.UG.FTS.B,
29.49%,
2/06/25
..
908
929
991702235.UG.FTS.B,
29.49%,
2/06/25
..
58
59
991702407.UG.FTS.B,
29.49%,
2/06/25
..
80
5
991702911.UG.FTS.B,
29.49%,
2/06/25
..
438
443
991703608.UG.FTS.B,
29.49%,
2/06/25
..
547
555
991704096.UG.FTS.B,
29.49%,
2/06/25
..
279
281
991704162.UG.FTS.B,
29.49%,
2/06/25
..
635
648
991704419.UG.FTS.B,
29.49%,
2/06/25
..
311
319
991704540.UG.FTS.B,
29.49%,
2/06/25
..
–
–
991704708.UG.FTS.B,
29.49%,
2/06/25
..
324
332
991705336.UG.FTS.B,
29.49%,
2/06/25
..
44
43
991705352.UG.FTS.B,
29.49%,
2/06/25
..
140
143
991705514.UG.FTS.B,
29.49%,
2/06/25
..
321
22
991705729.UG.FTS.B,
29.49%,
2/06/25
..
190
42
991706683.UG.FTS.B,
29.49%,
2/06/25
..
123
123
991707173.UG.FTS.B,
29.49%,
2/06/25
..
16
16
991707371.UG.FTS.B,
29.49%,
2/06/25
..
47
46
991707381.UG.FTS.B,
29.49%,
2/06/25
..
347
349
991707701.UG.FTS.B,
29.49%,
2/06/25
..
147
10
991707856.UG.FTS.B,
29.49%,
2/06/25
..
243
243
991707874.UG.FTS.B,
29.49%,
2/06/25
..
81
6
991708109.UG.FTS.B,
29.49%,
2/06/25
..
193
198
991708178.UG.FTS.B,
29.49%,
2/06/25
..
528
65
991708283.UG.FTS.B,
29.49%,
2/06/25
..
108
111
991708927.UG.FTS.B,
29.49%,
2/06/25
..
236
239
991709014.UG.FTS.B,
29.49%,
2/06/25
..
222
227
991709200.UG.FTS.B,
29.49%,
2/06/25
..
210
214
991709403.UG.FTS.B,
29.49%,
2/06/25
..
285
291
991709656.UG.FTS.B,
29.49%,
2/06/25
..
758
776
991711919.UG.FTS.B,
29.49%,
2/06/25
..
194
198
991712017.UG.FTS.B,
29.49%,
2/06/25
..
449
460
991712333.UG.FTS.B,
29.49%,
2/06/25
..
160
164
991712710.UG.FTS.B,
29.49%,
2/06/25
..
452
31
991712745.UG.FTS.B,
29.49%,
2/06/25
..
142
145
991713213.UG.FTS.B,
29.49%,
2/06/25
..
9
9
991713234.UG.FTS.B,
29.49%,
2/06/25
..
32
32
991713273.UG.FTS.B,
29.49%,
2/06/25
..
1,981
1,975
991714038.UG.FTS.B,
29.49%,
2/06/25
..
510
522
991714489.UG.FTS.B,
29.49%,
2/06/25
..
270
277
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991714501.UG.FTS.B,
29.49%,
2/06/25
..
$
19
$
19
991714529.UG.FTS.B,
29.49%,
2/06/25
..
260
263
991715228.UG.FTS.B,
29.49%,
2/06/25
..
230
234
991715596.UG.FTS.B,
29.49%,
2/06/25
..
1,451
1,452
991715690.UG.FTS.B,
29.49%,
2/06/25
..
141
10
991715711.UG.FTS.B,
29.49%,
2/06/25
..
1,852
1,882
991716208.UG.FTS.B,
29.49%,
2/06/25
..
341
347
991717099.UG.FTS.B,
29.49%,
2/06/25
..
80
81
991717494.UG.FTS.B,
29.49%,
2/06/25
..
70
69
991717801.UG.FTS.B,
29.49%,
2/06/25
..
16
16
991718002.UG.FTS.B,
29.49%,
2/06/25
..
184
188
991719310.UG.FTS.B,
29.49%,
2/06/25
..
525
537
991719419.UG.FTS.B,
29.49%,
2/06/25
..
368
377
991720196.UG.FTS.B,
29.49%,
2/06/25
..
138
141
991721139.UG.FTS.B,
29.49%,
2/06/25
..
276
282
991721483.UG.FTS.B,
29.49%,
2/06/25
..
88
89
991721909.UG.FTS.B,
29.49%,
2/06/25
..
95
94
991721992.UG.FTS.B,
29.49%,
2/06/25
..
368
376
991723599.UG.FTS.B,
29.49%,
2/06/25
..
110
113
991724717.UG.FTS.B,
29.49%,
2/06/25
..
213
214
991724986.UG.FTS.B,
29.49%,
2/06/25
..
48
48
991725507.UG.FTS.B,
29.49%,
2/06/25
..
355
363
991725736.UG.FTS.B,
29.49%,
2/06/25
..
104
106
991725769.UG.FTS.B,
29.49%,
2/06/25
..
43
43
991725939.UG.FTS.B,
29.49%,
2/06/25
..
42
(2)
991725959.UG.FTS.B,
29.49%,
2/06/25
..
789
807
991728154.UG.FTS.B,
29.49%,
2/06/25
..
167
21
991728380.UG.FTS.B,
29.49%,
2/06/25
..
254
260
991728473.UG.FTS.B,
29.49%,
2/06/25
..
1,439
1,474
991729497.UG.FTS.B,
29.49%,
2/06/25
..
52
16
991729831.UG.FTS.B,
29.49%,
2/06/25
..
261
267
991730113.UG.FTS.B,
29.49%,
2/06/25
..
270
277
991730563.UG.FTS.B,
29.49%,
2/06/25
..
459
471
991731325.UG.FTS.B,
29.49%,
2/06/25
..
671
683
991731574.UG.FTS.B,
29.49%,
2/06/25
..
–
–
991734435.UG.FTS.B,
29.49%,
2/06/25
..
151
154
991735284.UG.FTS.B,
29.49%,
2/06/25
..
211
216
991735384.UG.FTS.B,
29.49%,
2/06/25
..
418
428
991736261.UG.FTS.B,
29.49%,
2/06/25
..
51
15
991736461.UG.FTS.B,
29.49%,
2/06/25
..
1,237
1,264
991737002.UG.FTS.B,
29.49%,
2/06/25
..
94
96
991737780.UG.FTS.B,
29.49%,
2/06/25
..
89
90
991738035.UG.FTS.B,
29.49%,
2/06/25
..
114
117
991738100.UG.FTS.B,
29.49%,
2/06/25
..
421
29
991738990.UG.FTS.B,
29.49%,
2/06/25
..
842
857
991739099.UG.FTS.B,
29.49%,
2/06/25
..
100
98
991742896.UG.FTS.B,
29.49%,
2/06/25
..
491
501
991743392.UG.FTS.B,
29.49%,
2/06/25
..
213
216
991743460.UG.FTS.B,
29.49%,
2/06/25
..
46
47
991744011.UG.FTS.B,
29.49%,
2/06/25
..
406
(8)
991744447.UG.FTS.B,
29.49%,
2/06/25
..
786
805
991744630.UG.FTS.B,
29.49%,
2/06/25
..
77
78
991746112.UG.FTS.B,
29.49%,
2/06/25
..
658
673
991746825.UG.FTS.B,
29.49%,
2/06/25
..
117
120
991746952.UG.FTS.B,
29.49%,
2/06/25
..
374
381
991747607.UG.FTS.B,
29.49%,
2/06/25
..
190
194
991749163.UG.FTS.B,
29.49%,
2/06/25
..
110
14
991749942.UG.FTS.B,
29.49%,
2/06/25
..
458
469
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
170
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991752731.UG.FTS.B,
29.49%,
2/06/25
..
$
112
$
114
991752852.UG.FTS.B,
29.49%,
2/06/25
..
401
25
991753304.UG.FTS.B,
29.49%,
2/06/25
..
205
202
991753936.UG.FTS.B,
29.49%,
2/06/25
..
6
6
991754744.UG.FTS.B,
29.49%,
2/06/25
..
265
267
991755020.UG.FTS.B,
29.49%,
2/06/25
..
–
–
991755326.UG.FTS.B,
29.49%,
2/06/25
..
77
78
991755928.UG.FTS.B,
29.49%,
2/06/25
..
268
271
991756090.UG.FTS.B,
29.49%,
2/06/25
..
169
11
991757142.UG.FTS.B,
29.49%,
2/06/25
..
266
262
991757240.UG.FTS.B,
29.49%,
2/06/25
..
681
697
991757332.UG.FTS.B,
29.49%,
2/06/25
..
183
179
991759741.UG.FTS.B,
29.49%,
2/06/25
..
373
381
991764353.UG.FTS.B,
29.49%,
2/06/25
..
54
54
991765175.UG.FTS.B,
29.49%,
2/06/25
..
195
200
991766972.UG.FTS.B,
29.49%,
2/06/25
..
97
99
991766995.UG.FTS.B,
29.49%,
2/06/25
..
76
75
991767120.UG.FTS.B,
29.49%,
2/06/25
..
113
115
991767625.UG.FTS.B,
29.49%,
2/06/25
..
54
54
991767728.UG.FTS.B,
29.49%,
2/06/25
..
210
215
991769688.UG.FTS.B,
29.49%,
2/06/25
..
411
421
991769928.UG.FTS.B,
29.49%,
2/06/25
..
462
473
991771068.UG.FTS.B,
29.49%,
2/06/25
..
132
134
991772651.UG.FTS.B,
29.49%,
2/06/25
..
83
82
991772871.UG.FTS.B,
29.49%,
2/06/25
..
1,169
75
991774875.UG.FTS.B,
29.49%,
2/06/25
..
88
89
991775565.UG.FTS.B,
29.49%,
2/06/25
..
279
61
991775752.UG.FTS.B,
29.49%,
2/06/25
..
–
–
991782029.UG.FTS.B,
29.49%,
2/06/25
..
64
63
991782369.UG.FTS.B,
29.49%,
2/06/25
..
190
13
991783769.UG.FTS.B,
29.49%,
2/06/25
..
20
20
991784966.UG.FTS.B,
29.49%,
2/06/25
..
62
62
991787239.UG.FTS.B,
29.49%,
2/06/25
..
109
7
991788076.UG.FTS.B,
29.49%,
2/06/25
..
47
(2)
991789710.UG.FTS.B,
29.49%,
2/06/25
..
444
438
991791088.UG.FTS.B,
29.49%,
2/06/25
..
61
61
991791167.UG.FTS.B,
29.49%,
2/06/25
..
102
13
991793532.UG.FTS.B,
29.49%,
2/06/25
..
731
748
991796673.UG.FTS.B,
29.49%,
2/06/25
..
361
360
991797405.UG.FTS.B,
29.49%,
2/06/25
..
134
136
991798596.UG.FTS.B,
29.49%,
2/06/25
..
208
209
991800849.UG.FTS.B,
29.49%,
2/06/25
..
87
89
991801191.UG.FTS.B,
29.49%,
2/06/25
..
1,245
1,273
991801380.UG.FTS.B,
29.49%,
2/06/25
..
440
30
991803989.UG.FTS.B,
29.49%,
2/06/25
..
643
642
991804605.UG.FTS.B,
29.49%,
2/06/25
..
111
108
991806859.UG.FTS.B,
29.49%,
2/06/25
..
52
52
991809701.UG.FTS.B,
29.49%,
2/06/25
..
385
(23)
991812212.UG.FTS.B,
29.49%,
2/06/25
..
174
175
991812264.UG.FTS.B,
29.49%,
2/06/25
..
74
73
991812301.UG.FTS.B,
29.49%,
2/06/25
..
105
105
991812574.UG.FTS.B,
29.49%,
2/06/25
..
136
138
991815396.UG.FTS.B,
29.49%,
2/06/25
..
161
165
991815674.UG.FTS.B,
29.49%,
2/06/25
..
474
485
991816101.UG.FTS.B,
29.49%,
2/06/25
..
204
209
991818985.UG.FTS.B,
29.49%,
2/06/25
..
80
81
991820441.UG.FTS.B,
29.49%,
2/06/25
..
1,494
1,529
991821554.UG.FTS.B,
29.49%,
2/06/25
..
131
28
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991825654.UG.FTS.B,
29.49%,
2/06/25
..
$
218
$
223
991826190.UG.FTS.B,
29.49%,
2/06/25
..
100
100
991826917.UG.FTS.B,
29.49%,
2/06/25
..
581
595
991827252.UG.FTS.B,
29.49%,
2/06/25
..
78
60
991830903.UG.FTS.B,
29.49%,
2/06/25
..
32
31
991834402.UG.FTS.B,
29.49%,
2/06/25
..
122
124
991834986.UG.FTS.B,
29.49%,
2/06/25
..
455
464
991835940.UG.FTS.B,
29.49%,
2/06/25
..
187
190
991836161.UG.FTS.B,
29.49%,
2/06/25
..
125
88
991836634.UG.FTS.B,
29.49%,
2/06/25
..
260
261
991838708.UG.FTS.B,
29.49%,
2/06/25
..
74
75
991842608.UG.FTS.B,
29.49%,
2/06/25
..
197
25
991844028.UG.FTS.B,
29.49%,
2/06/25
..
2,579
2,621
991848072.UG.FTS.B,
29.49%,
2/06/25
..
173
177
991848970.UG.FTS.B,
29.49%,
2/06/25
..
228
49
991849574.UG.FTS.B,
29.49%,
2/06/25
..
30
30
991850107.UG.FTS.B,
29.49%,
2/06/25
..
68
68
991852176.UG.FTS.B,
29.49%,
2/06/25
..
136
140
991854157.UG.FTS.B,
29.49%,
2/06/25
..
454
465
991855511.UG.FTS.B,
29.49%,
2/06/25
..
73
74
991860077.UG.FTS.B,
29.49%,
2/06/25
..
197
199
991862203.UG.FTS.B,
29.49%,
2/06/25
..
73
71
991862795.UG.FTS.B,
29.49%,
2/06/25
..
1,362
1,378
991863987.UG.FTS.B,
29.49%,
2/06/25
..
1,000
984
991865117.UG.FTS.B,
29.49%,
2/06/25
..
410
419
991865504.UG.FTS.B,
29.49%,
2/06/25
..
50
50
991865882.UG.FTS.B,
29.49%,
2/06/25
..
30
30
991869807.UG.FTS.B,
29.49%,
2/06/25
..
161
164
991869815.UG.FTS.B,
29.49%,
2/06/25
..
20
20
991870451.UG.FTS.B,
29.49%,
2/06/25
..
133
88
991871207.UG.FTS.B,
29.49%,
2/06/25
..
167
165
991873395.UG.FTS.B,
29.49%,
2/06/25
..
70
69
991873746.UG.FTS.B,
29.49%,
2/06/25
..
79
80
991874981.UG.FTS.B,
29.49%,
2/06/25
..
341
344
991875332.UG.FTS.B,
29.49%,
2/06/25
..
164
167
991877935.UG.FTS.B,
29.49%,
2/06/25
..
60
61
991881388.UG.FTS.B,
29.49%,
2/06/25
..
90
(4)
991886716.UG.FTS.B,
29.49%,
2/06/25
..
129
130
991887900.UG.FTS.B,
29.49%,
2/06/25
..
43
43
991892060.UG.FTS.B,
29.49%,
2/06/25
..
475
(10)
991895260.UG.FTS.B,
29.49%,
2/06/25
..
566
69
991896068.UG.FTS.B,
29.49%,
2/06/25
..
86
87
991899452.UG.FTS.B,
29.49%,
2/06/25
..
104
106
991904775.UG.FTS.B,
29.49%,
2/06/25
..
102
104
991907617.UG.FTS.B,
29.49%,
2/06/25
..
75
76
991908329.UG.FTS.B,
29.49%,
2/06/25
..
292
63
991908415.UG.FTS.B,
29.49%,
2/06/25
..
86
88
991910134.UG.FTS.B,
29.49%,
2/06/25
..
12
12
991914064.UG.FTS.B,
29.49%,
2/06/25
..
112
8
991914065.UG.FTS.B,
29.49%,
2/06/25
..
177
178
991915931.UG.FTS.B,
29.49%,
2/06/25
..
0
0
991919465.UG.FTS.B,
29.49%,
2/06/25
..
67
67
991921869.UG.FTS.B,
29.49%,
2/06/25
..
33
33
991922466.UG.FTS.B,
29.49%,
2/06/25
..
92
93
991928851.UG.FTS.B,
29.49%,
2/06/25
..
2,258
2,269
991930716.UG.FTS.B,
29.49%,
2/06/25
..
16
16
991933771.UG.FTS.B,
29.49%,
2/06/25
..
268
267
991934546.UG.FTS.B,
29.49%,
2/06/25
..
158
156
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
171
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991936500.UG.FTS.B,
29.49%,
2/06/25
..
$
18
$
17
991938491.UG.FTS.B,
29.49%,
2/06/25
..
631
635
991736213.UG.FTS.B,
14.98%,
2/07/25
..
456
462
991738550.UG.FTS.B,
17.99%,
2/07/25
..
412
414
991860327.UG.FTS.B,
17.99%,
2/07/25
..
1,106
1,120
991875162.UG.FTS.B,
17.99%,
2/07/25
..
231
233
991884424.UG.FTS.B,
17.99%,
2/07/25
..
402
405
991933227.UG.FTS.B,
17.99%,
2/07/25
..
82
83
991729679.UG.FTS.B,
18.97%,
2/07/25
..
505
514
991827281.UG.FTS.B,
18.97%,
2/07/25
..
134
135
991905123.UG.FTS.B,
18.97%,
2/07/25
..
152
153
991708830.UG.FTS.B,
19.21%,
2/07/25
..
610
621
991727309.UG.FTS.B,
19.21%,
2/07/25
..
593
598
991748413.UG.FTS.B,
19.21%,
2/07/25
..
686
692
991770029.UG.FTS.B,
19.21%,
2/07/25
..
162
165
991783290.UG.FTS.B,
19.21%,
2/07/25
..
353
359
991818350.UG.FTS.B,
19.21%,
2/07/25
..
20
20
991874943.UG.FTS.B,
19.21%,
2/07/25
..
277
280
991924115.UG.FTS.B,
19.21%,
2/07/25
..
112
114
991774364.UG.FTS.B,
19.8%,
2/07/25
...
140
139
991834369.UG.FTS.B,
19.8%,
2/07/25
...
448
455
991867288.UG.FTS.B,
19.8%,
2/07/25
...
26
2
991875028.UG.FTS.B,
19.97%,
2/07/25
..
16
16
991706099.UG.FTS.B,
19.99%,
2/07/25
..
0
0
991733738.UG.FTS.B,
19.99%,
2/07/25
..
67
67
991740094.UG.FTS.B,
19.99%,
2/07/25
..
236
28
991744988.UG.FTS.B,
19.99%,
2/07/25
..
525
527
991751600.UG.FTS.B,
19.99%,
2/07/25
..
0
0
991766821.UG.FTS.B,
19.99%,
2/07/25
..
255
262
991783186.UG.FTS.B,
19.99%,
2/07/25
..
37
37
991790462.UG.FTS.B,
19.99%,
2/07/25
..
85
(1)
991808111.UG.FTS.B,
19.99%,
2/07/25
..
57
57
991810153.UG.FTS.B,
19.99%,
2/07/25
..
180
184
991821055.UG.FTS.B,
19.99%,
2/07/25
..
170
34
991849041.UG.FTS.B,
19.99%,
2/07/25
..
22
22
991856601.UG.FTS.B,
19.99%,
2/07/25
..
409
419
991902788.UG.FTS.B,
19.99%,
2/07/25
..
32
33
991929262.UG.FTS.B,
19.99%,
2/07/25
..
130
131
991929426.UG.FTS.B,
19.99%,
2/07/25
..
77
76
991929766.UG.FTS.B,
19.99%,
2/07/25
..
193
195
991770272.UG.FTS.B,
20.46%,
2/07/25
..
630
640
991868003.UG.FTS.B,
20.46%,
2/07/25
..
308
312
991705613.UG.FTS.B,
21.46%,
2/07/25
..
10
10
991714732.UG.FTS.B,
21.46%,
2/07/25
..
53
54
991758807.UG.FTS.B,
21.46%,
2/07/25
..
125
25
991922854.UG.FTS.B,
21.46%,
2/07/25
..
72
73
991711288.UG.FTS.B,
21.98%,
2/07/25
..
211
213
991715117.UG.FTS.B,
21.98%,
2/07/25
..
665
673
991724052.UG.FTS.B,
21.98%,
2/07/25
..
564
570
991794656.UG.FTS.B,
21.98%,
2/07/25
..
387
386
991802598.UG.FTS.B,
21.98%,
2/07/25
..
2,222
1,459
991843735.UG.FTS.B,
21.98%,
2/07/25
..
539
546
991736467.UG.FTS.B,
22.97%,
2/07/25
..
445
450
991721816.UG.FTS.B,
23.95%,
2/07/25
..
330
23
991772252.UG.FTS.B,
23.95%,
2/07/25
..
1,813
1,830
991762975.UG.FTS.B,
25.95%,
2/07/25
..
461
465
991772013.UG.FTS.B,
26.94%,
2/07/25
..
273
275
991709714.UG.FTS.B,
27.99%,
2/07/25
..
87
65
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991748191.UG.FTS.B,
27.99%,
2/07/25
..
$
247
$
253
991785599.UG.FTS.B,
27.99%,
2/07/25
..
646
644
991797259.UG.FTS.B,
27.99%,
2/07/25
..
22
22
991800353.UG.FTS.B,
27.99%,
2/07/25
..
106
108
991828120.UG.FTS.B,
27.99%,
2/07/25
..
40
40
991880949.UG.FTS.B,
27.99%,
2/07/25
..
89
91
991901076.UG.FTS.B,
27.99%,
2/07/25
..
434
430
991902001.UG.FTS.B,
27.99%,
2/07/25
..
201
202
991697103.UG.FTS.B,
28.98%,
2/07/25
..
494
501
991697441.UG.FTS.B,
28.98%,
2/07/25
..
217
215
991705668.UG.FTS.B,
28.98%,
2/07/25
..
35
35
991705793.UG.FTS.B,
28.98%,
2/07/25
..
607
620
991705973.UG.FTS.B,
28.98%,
2/07/25
..
220
226
991706644.UG.FTS.B,
28.98%,
2/07/25
..
33
33
991706813.UG.FTS.B,
28.98%,
2/07/25
..
502
515
991707116.UG.FTS.B,
28.98%,
2/07/25
..
150
97
991707358.UG.FTS.B,
28.98%,
2/07/25
..
131
134
991707661.UG.FTS.B,
28.98%,
2/07/25
..
237
242
991707843.UG.FTS.B,
28.98%,
2/07/25
..
166
170
991708677.UG.FTS.B,
28.98%,
2/07/25
..
1,036
1,049
991708937.UG.FTS.B,
28.98%,
2/07/25
..
238
240
991708989.UG.FTS.B,
28.98%,
2/07/25
..
329
334
991709240.UG.FTS.B,
28.98%,
2/07/25
..
63
64
991710256.UG.FTS.B,
28.98%,
2/07/25
..
75
75
991710379.UG.FTS.B,
28.98%,
2/07/25
..
296
304
991710718.UG.FTS.B,
28.98%,
2/07/25
..
137
29
991710868.UG.FTS.B,
28.98%,
2/07/25
..
252
258
991712303.UG.FTS.B,
28.98%,
2/07/25
..
200
205
991712542.UG.FTS.B,
28.98%,
2/07/25
..
96
98
991712781.UG.FTS.B,
28.98%,
2/07/25
..
177
182
991712922.UG.FTS.B,
28.98%,
2/07/25
..
150
154
991712958.UG.FTS.B,
28.98%,
2/07/25
..
217
223
991714026.UG.FTS.B,
28.98%,
2/07/25
..
25
25
991715098.UG.FTS.B,
28.98%,
2/07/25
..
220
(10)
991716458.UG.FTS.B,
28.98%,
2/07/25
..
115
118
991716650.UG.FTS.B,
28.98%,
2/07/25
..
92
94
991716695.UG.FTS.B,
28.98%,
2/07/25
..
796
(35)
991717771.UG.FTS.B,
28.98%,
2/07/25
..
353
358
991718206.UG.FTS.B,
28.98%,
2/07/25
..
110
113
991720672.UG.FTS.B,
28.98%,
2/07/25
..
4,597
4,712
991722674.UG.FTS.B,
28.98%,
2/07/25
..
151
99
991722877.UG.FTS.B,
28.98%,
2/07/25
..
184
188
991724076.UG.FTS.B,
28.98%,
2/07/25
..
110
113
991724273.UG.FTS.B,
28.98%,
2/07/25
..
1,528
1,566
991724529.UG.FTS.B,
28.98%,
2/07/25
..
1,722
1,763
991725039.UG.FTS.B,
28.98%,
2/07/25
..
401
(14)
991727635.UG.FTS.B,
28.98%,
2/07/25
..
292
299
991727947.UG.FTS.B,
28.98%,
2/07/25
..
498
106
991728955.UG.FTS.B,
28.98%,
2/07/25
..
474
477
991731435.UG.FTS.B,
28.98%,
2/07/25
..
230
235
991732874.UG.FTS.B,
28.98%,
2/07/25
..
321
22
991733251.UG.FTS.B,
28.98%,
2/07/25
..
18
18
991733369.UG.FTS.B,
28.98%,
2/07/25
..
38
38
991735485.UG.FTS.B,
28.98%,
2/07/25
..
165
169
991739386.UG.FTS.B,
28.98%,
2/07/25
..
369
377
991740286.UG.FTS.B,
28.98%,
2/07/25
..
918
941
991740991.UG.FTS.B,
28.98%,
2/07/25
..
696
701
991743968.UG.FTS.B,
28.98%,
2/07/25
..
525
538
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
172
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991744414.UG.FTS.B,
28.98%,
2/07/25
..
$
170
$
174
991747615.UG.FTS.B,
28.98%,
2/07/25
..
642
658
991747846.UG.FTS.B,
28.98%,
2/07/25
..
117
116
991748215.UG.FTS.B,
28.98%,
2/07/25
..
12
11
991751480.UG.FTS.B,
28.98%,
2/07/25
..
81
83
991753200.UG.FTS.B,
28.98%,
2/07/25
..
34
34
991755398.UG.FTS.B,
28.98%,
2/07/25
..
123
126
991755903.UG.FTS.B,
28.98%,
2/07/25
..
238
243
991755938.UG.FTS.B,
28.98%,
2/07/25
..
363
371
991757521.UG.FTS.B,
28.98%,
2/07/25
..
33
33
991758513.UG.FTS.B,
28.98%,
2/07/25
..
568
582
991760350.UG.FTS.B,
28.98%,
2/07/25
..
436
435
991760736.UG.FTS.B,
28.98%,
2/07/25
..
23
23
991762771.UG.FTS.B,
28.98%,
2/07/25
..
58
16
991763088.UG.FTS.B,
28.98%,
2/07/25
..
147
9
991764432.UG.FTS.B,
28.98%,
2/07/25
..
78
58
991765812.UG.FTS.B,
28.98%,
2/07/25
..
21
21
991767054.UG.FTS.B,
28.98%,
2/07/25
..
157
98
991769852.UG.FTS.B,
28.98%,
2/07/25
..
199
14
991771163.UG.FTS.B,
28.98%,
2/07/25
..
18
18
991772287.UG.FTS.B,
28.98%,
2/07/25
..
458
469
991773314.UG.FTS.B,
28.98%,
2/07/25
..
707
724
991774768.UG.FTS.B,
28.98%,
2/07/25
..
2,690
2,724
991776937.UG.FTS.B,
28.98%,
2/07/25
..
194
12
991782506.UG.FTS.B,
28.98%,
2/07/25
..
4,572
4,685
991783617.UG.FTS.B,
28.98%,
2/07/25
..
393
402
991784791.UG.FTS.B,
28.98%,
2/07/25
..
320
328
991790869.UG.FTS.B,
28.98%,
2/07/25
..
165
(7)
991792045.UG.FTS.B,
28.98%,
2/07/25
..
948
116
991792456.UG.FTS.B,
28.98%,
2/07/25
..
77
78
991793298.UG.FTS.B,
28.98%,
2/07/25
..
135
88
991794634.UG.FTS.B,
28.98%,
2/07/25
..
1,724
1,760
991795969.UG.FTS.B,
28.98%,
2/07/25
..
24
24
991796824.UG.FTS.B,
28.98%,
2/07/25
..
342
343
991796956.UG.FTS.B,
28.98%,
2/07/25
..
119
122
991797267.UG.FTS.B,
28.98%,
2/07/25
..
72
0
991799326.UG.FTS.B,
28.98%,
2/07/25
..
675
686
991799442.UG.FTS.B,
28.98%,
2/07/25
..
1,154
1,168
991800973.UG.FTS.B,
28.98%,
2/07/25
..
1,192
1,201
991801184.UG.FTS.B,
28.98%,
2/07/25
..
2,559
2,613
991801935.UG.FTS.B,
28.98%,
2/07/25
..
4,839
4,958
991803039.UG.FTS.B,
28.98%,
2/07/25
..
885
906
991803197.UG.FTS.B,
28.98%,
2/07/25
..
23
23
991805259.UG.FTS.B,
28.98%,
2/07/25
..
204
208
991805595.UG.FTS.B,
28.98%,
2/07/25
..
83
85
991806653.UG.FTS.B,
28.98%,
2/07/25
..
296
298
991807039.UG.FTS.B,
28.98%,
2/07/25
..
370
378
991807123.UG.FTS.B,
28.98%,
2/07/25
..
593
607
991809459.UG.FTS.B,
28.98%,
2/07/25
..
80
81
991810591.UG.FTS.B,
28.98%,
2/07/25
..
139
138
991811191.UG.FTS.B,
28.98%,
2/07/25
..
2,098
2,150
991814223.UG.FTS.B,
28.98%,
2/07/25
..
165
169
991817529.UG.FTS.B,
28.98%,
2/07/25
..
203
(9)
991818819.UG.FTS.B,
28.98%,
2/07/25
..
31
31
991820194.UG.FTS.B,
28.98%,
2/07/25
..
52
4
991823342.UG.FTS.B,
28.98%,
2/07/25
..
437
448
991830675.UG.FTS.B,
28.98%,
2/07/25
..
210
216
991834970.UG.FTS.B,
28.98%,
2/07/25
..
1,000
69
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991835648.UG.FTS.B,
28.98%,
2/07/25
..
$
182
$
186
991836592.UG.FTS.B,
28.98%,
2/07/25
..
1,728
1,716
991838148.UG.FTS.B,
28.98%,
2/07/25
..
847
854
991838996.UG.FTS.B,
28.98%,
2/07/25
..
235
237
991840095.UG.FTS.B,
28.98%,
2/07/25
..
76
77
991843451.UG.FTS.B,
28.98%,
2/07/25
..
59
60
991844258.UG.FTS.B,
28.98%,
2/07/25
..
197
(9)
991847936.UG.FTS.B,
28.98%,
2/07/25
..
41
41
991849419.UG.FTS.B,
28.98%,
2/07/25
..
560
573
991851782.UG.FTS.B,
28.98%,
2/07/25
..
524
537
991852115.UG.FTS.B,
28.98%,
2/07/25
..
321
328
991852363.UG.FTS.B,
28.98%,
2/07/25
..
93
95
991854042.UG.FTS.B,
28.98%,
2/07/25
..
227
232
991854543.UG.FTS.B,
28.98%,
2/07/25
..
207
44
991862171.UG.FTS.B,
28.98%,
2/07/25
..
16
15
991863331.UG.FTS.B,
28.98%,
2/07/25
..
353
75
991864821.UG.FTS.B,
28.98%,
2/07/25
..
17
17
991875987.UG.FTS.B,
28.98%,
2/07/25
..
393
395
991876954.UG.FTS.B,
28.98%,
2/07/25
..
38
39
991882872.UG.FTS.B,
28.98%,
2/07/25
..
345
348
991884000.UG.FTS.B,
28.98%,
2/07/25
..
1,172
1,180
991889023.UG.FTS.B,
28.98%,
2/07/25
..
172
(8)
991891982.UG.FTS.B,
28.98%,
2/07/25
..
23
23
991892302.UG.FTS.B,
28.98%,
2/07/25
..
84
85
991897778.UG.FTS.B,
28.98%,
2/07/25
..
561
371
991905767.UG.FTS.B,
28.98%,
2/07/25
..
230
232
991907273.UG.FTS.B,
28.98%,
2/07/25
..
452
456
991912825.UG.FTS.B,
28.98%,
2/07/25
..
22
22
991917980.UG.FTS.B,
28.98%,
2/07/25
..
115
24
991920069.UG.FTS.B,
28.98%,
2/07/25
..
155
156
991922521.UG.FTS.B,
28.98%,
2/07/25
..
23
23
991922608.UG.FTS.B,
28.98%,
2/07/25
..
318
314
991927729.UG.FTS.B,
28.98%,
2/07/25
..
903
912
991935487.UG.FTS.B,
28.98%,
2/07/25
..
133
134
991937488.UG.FTS.B,
28.98%,
2/07/25
..
829
826
991727371.UG.FTS.B,
29.46%,
2/07/25
..
147
150
991705149.UG.FTS.B,
29.47%,
2/07/25
..
22
22
991872197.UG.FTS.B,
29.47%,
2/07/25
..
167
170
991709575.UG.FTS.B,
29.48%,
2/07/25
..
324
331
991745671.UG.FTS.B,
29.48%,
2/07/25
..
52
53
991693038.UG.FTS.B,
29.49%,
2/07/25
..
2,423
2,466
991695755.UG.FTS.B,
29.49%,
2/07/25
..
206
206
991705076.UG.FTS.B,
29.49%,
2/07/25
..
564
72
991705451.UG.FTS.B,
29.49%,
2/07/25
..
344
341
991705974.UG.FTS.B,
29.49%,
2/07/25
..
881
880
991705983.UG.FTS.B,
29.49%,
2/07/25
..
149
152
991706291.UG.FTS.B,
29.49%,
2/07/25
..
204
14
991706339.UG.FTS.B,
29.49%,
2/07/25
..
5
5
991706403.UG.FTS.B,
29.49%,
2/07/25
..
477
(22)
991706407.UG.FTS.B,
29.49%,
2/07/25
..
306
305
991707049.UG.FTS.B,
29.49%,
2/07/25
..
218
222
991707186.UG.FTS.B,
29.49%,
2/07/25
..
365
365
991707394.UG.FTS.B,
29.49%,
2/07/25
..
775
769
991707574.UG.FTS.B,
29.49%,
2/07/25
..
167
165
991708039.UG.FTS.B,
29.49%,
2/07/25
..
478
490
991708832.UG.FTS.B,
29.49%,
2/07/25
..
152
155
991709327.UG.FTS.B,
29.49%,
2/07/25
..
385
394
991709591.UG.FTS.B,
29.49%,
2/07/25
..
48
16
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
173
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991709608.UG.FTS.B,
29.49%,
2/07/25
..
$
305
$
304
991709721.UG.FTS.B,
29.49%,
2/07/25
..
102
23
991709722.UG.FTS.B,
29.49%,
2/07/25
..
669
685
991709884.UG.FTS.B,
29.49%,
2/07/25
..
918
115
991710141.UG.FTS.B,
29.49%,
2/07/25
..
58
59
991710253.UG.FTS.B,
29.49%,
2/07/25
..
53
45
991710479.UG.FTS.B,
29.49%,
2/07/25
..
89
6
991710655.UG.FTS.B,
29.49%,
2/07/25
..
1,795
1,203
991710674.UG.FTS.B,
29.49%,
2/07/25
..
67
68
991710709.UG.FTS.B,
29.49%,
2/07/25
..
175
179
991710764.UG.FTS.B,
29.49%,
2/07/25
..
355
25
991710835.UG.FTS.B,
29.49%,
2/07/25
..
209
213
991711259.UG.FTS.B,
29.49%,
2/07/25
..
187
191
991711386.UG.FTS.B,
29.49%,
2/07/25
..
160
36
991712449.UG.FTS.B,
29.49%,
2/07/25
..
193
197
991712587.UG.FTS.B,
29.49%,
2/07/25
..
664
142
991712867.UG.FTS.B,
29.49%,
2/07/25
..
427
422
991712892.UG.FTS.B,
29.49%,
2/07/25
..
578
589
991713180.UG.FTS.B,
29.49%,
2/07/25
..
2,034
2,077
991713198.UG.FTS.B,
29.49%,
2/07/25
..
74
75
991713851.UG.FTS.B,
29.49%,
2/07/25
..
118
121
991714825.UG.FTS.B,
29.49%,
2/07/25
..
89
90
991715086.UG.FTS.B,
29.49%,
2/07/25
..
153
157
991715322.UG.FTS.B,
29.49%,
2/07/25
..
126
27
991715818.UG.FTS.B,
29.49%,
2/07/25
..
137
140
991716025.UG.FTS.B,
29.49%,
2/07/25
..
533
116
991716358.UG.FTS.B,
29.49%,
2/07/25
..
328
324
991717217.UG.FTS.B,
29.49%,
2/07/25
..
61
60
991717280.UG.FTS.B,
29.49%,
2/07/25
..
239
31
991717516.UG.FTS.B,
29.49%,
2/07/25
..
10
10
991717543.UG.FTS.B,
29.49%,
2/07/25
..
192
196
991717657.UG.FTS.B,
29.49%,
2/07/25
..
2,040
1,391
991718167.UG.FTS.B,
29.49%,
2/07/25
..
138
141
991718305.UG.FTS.B,
29.49%,
2/07/25
..
198
25
991718456.UG.FTS.B,
29.49%,
2/07/25
..
375
383
991719583.UG.FTS.B,
29.49%,
2/07/25
..
736
754
991720106.UG.FTS.B,
29.49%,
2/07/25
..
623
78
991720150.UG.FTS.B,
29.49%,
2/07/25
..
542
546
991720898.UG.FTS.B,
29.49%,
2/07/25
..
293
293
991721040.UG.FTS.B,
29.49%,
2/07/25
..
138
141
991721496.UG.FTS.B,
29.49%,
2/07/25
..
124
127
991723502.UG.FTS.B,
29.49%,
2/07/25
..
61
62
991723604.UG.FTS.B,
29.49%,
2/07/25
..
426
426
991724007.UG.FTS.B,
29.49%,
2/07/25
..
21
9
991724083.UG.FTS.B,
29.49%,
2/07/25
..
16
16
991726856.UG.FTS.B,
29.49%,
2/07/25
..
75
76
991728336.UG.FTS.B,
29.49%,
2/07/25
..
88
89
991728768.UG.FTS.B,
29.49%,
2/07/25
..
38
38
991728796.UG.FTS.B,
29.49%,
2/07/25
..
7
7
991728920.UG.FTS.B,
29.49%,
2/07/25
..
75
19
991729210.UG.FTS.B,
29.49%,
2/07/25
..
898
915
991729366.UG.FTS.B,
29.49%,
2/07/25
..
80
81
991729425.UG.FTS.B,
29.49%,
2/07/25
..
45
45
991729445.UG.FTS.B,
29.49%,
2/07/25
..
102
104
991729754.UG.FTS.B,
29.49%,
2/07/25
..
1,351
1,383
991729898.UG.FTS.B,
29.49%,
2/07/25
..
97
99
991730072.UG.FTS.B,
29.49%,
2/07/25
..
1,332
1,356
991730120.UG.FTS.B,
29.49%,
2/07/25
..
24
24
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991730418.UG.FTS.B,
29.49%,
2/07/25
..
$
1,597
$
1,627
991730860.UG.FTS.B,
29.49%,
2/07/25
..
249
(11)
991731024.UG.FTS.B,
29.49%,
2/07/25
..
151
154
991732059.UG.FTS.B,
29.49%,
2/07/25
..
17
17
991732414.UG.FTS.B,
29.49%,
2/07/25
..
72
19
991732638.UG.FTS.B,
29.49%,
2/07/25
..
29
28
991733105.UG.FTS.B,
29.49%,
2/07/25
..
39
39
991733135.UG.FTS.B,
29.49%,
2/07/25
..
4,067
4,125
991733378.UG.FTS.B,
29.49%,
2/07/25
..
837
840
991733725.UG.FTS.B,
29.49%,
2/07/25
..
52
52
991734115.UG.FTS.B,
29.49%,
2/07/25
..
192
196
991734242.UG.FTS.B,
29.49%,
2/07/25
..
267
270
991734487.UG.FTS.B,
29.49%,
2/07/25
..
336
343
991734566.UG.FTS.B,
29.49%,
2/07/25
..
175
22
991734975.UG.FTS.B,
29.49%,
2/07/25
..
99
101
991735394.UG.FTS.B,
29.49%,
2/07/25
..
29
28
991735546.UG.FTS.B,
29.49%,
2/07/25
..
20
20
991735633.UG.FTS.B,
29.49%,
2/07/25
..
21
21
991735751.UG.FTS.B,
29.49%,
2/07/25
..
151
155
991735777.UG.FTS.B,
29.49%,
2/07/25
..
64
65
991735915.UG.FTS.B,
29.49%,
2/07/25
..
351
359
991736571.UG.FTS.B,
29.49%,
2/07/25
..
272
270
991736815.UG.FTS.B,
29.49%,
2/07/25
..
1,565
1,601
991736846.UG.FTS.B,
29.49%,
2/07/25
..
17
17
991736857.UG.FTS.B,
29.49%,
2/07/25
..
1,546
1,582
991737147.UG.FTS.B,
29.49%,
2/07/25
..
100
102
991737666.UG.FTS.B,
29.49%,
2/07/25
..
291
292
991738244.UG.FTS.B,
29.49%,
2/07/25
..
625
621
991738742.UG.FTS.B,
29.49%,
2/07/25
..
84
85
991739032.UG.FTS.B,
29.49%,
2/07/25
..
10
10
991740733.UG.FTS.B,
29.49%,
2/07/25
..
48
47
991741355.UG.FTS.B,
29.49%,
2/07/25
..
87
88
991741747.UG.FTS.B,
29.49%,
2/07/25
..
694
48
991743169.UG.FTS.B,
29.49%,
2/07/25
..
19
9
991743733.UG.FTS.B,
29.49%,
2/07/25
..
137
141
991744573.UG.FTS.B,
29.49%,
2/07/25
..
40
40
991745513.UG.FTS.B,
29.49%,
2/07/25
..
353
355
991745593.UG.FTS.B,
29.49%,
2/07/25
..
615
629
991745877.UG.FTS.B,
29.49%,
2/07/25
..
337
345
991746220.UG.FTS.B,
29.49%,
2/07/25
..
314
322
991747234.UG.FTS.B,
29.49%,
2/07/25
..
50
15
991747662.UG.FTS.B,
29.49%,
2/07/25
..
372
381
991747738.UG.FTS.B,
29.49%,
2/07/25
..
162
160
991747860.UG.FTS.B,
29.49%,
2/07/25
..
73
74
991748947.UG.FTS.B,
29.49%,
2/07/25
..
46
46
991749700.UG.FTS.B,
29.49%,
2/07/25
..
83
84
991750239.UG.FTS.B,
29.49%,
2/07/25
..
61
17
991751851.UG.FTS.B,
29.49%,
2/07/25
..
81
82
991754591.UG.FTS.B,
29.49%,
2/07/25
..
142
145
991755174.UG.FTS.B,
29.49%,
2/07/25
..
196
201
991756073.UG.FTS.B,
29.49%,
2/07/25
..
293
19
991759359.UG.FTS.B,
29.49%,
2/07/25
..
681
697
991759641.UG.FTS.B,
29.49%,
2/07/25
..
185
190
991759993.UG.FTS.B,
29.49%,
2/07/25
..
268
274
991760081.UG.FTS.B,
29.49%,
2/07/25
..
177
180
991760619.UG.FTS.B,
29.49%,
2/07/25
..
15
15
991761102.UG.FTS.B,
29.49%,
2/07/25
..
288
189
991761633.UG.FTS.B,
29.49%,
2/07/25
..
150
154
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
174
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991762218.UG.FTS.B,
29.49%,
2/07/25
..
$
221
$
221
991762808.UG.FTS.B,
29.49%,
2/07/25
..
94
96
991763762.UG.FTS.B,
29.49%,
2/07/25
..
94
95
991763819.UG.FTS.B,
29.49%,
2/07/25
..
26
(1)
991765277.UG.FTS.B,
29.49%,
2/07/25
..
42
41
991765430.UG.FTS.B,
29.49%,
2/07/25
..
33
33
991766156.UG.FTS.B,
29.49%,
2/07/25
..
61
60
991766666.UG.FTS.B,
29.49%,
2/07/25
..
89
88
991767510.UG.FTS.B,
29.49%,
2/07/25
..
52
51
991767771.UG.FTS.B,
29.49%,
2/07/25
..
619
633
991769715.UG.FTS.B,
29.49%,
2/07/25
..
358
366
991770508.UG.FTS.B,
29.49%,
2/07/25
..
365
45
991770714.UG.FTS.B,
29.49%,
2/07/25
..
178
40
991770778.UG.FTS.B,
29.49%,
2/07/25
..
88
90
991771123.UG.FTS.B,
29.49%,
2/07/25
..
248
252
991771328.UG.FTS.B,
29.49%,
2/07/25
..
204
143
991771961.UG.FTS.B,
29.49%,
2/07/25
..
183
187
991773370.UG.FTS.B,
29.49%,
2/07/25
..
230
234
991773390.UG.FTS.B,
29.49%,
2/07/25
..
4,574
4,675
991774019.UG.FTS.B,
29.49%,
2/07/25
..
55
55
991774573.UG.FTS.B,
29.49%,
2/07/25
..
111
110
991777257.UG.FTS.B,
29.49%,
2/07/25
..
164
168
991778724.UG.FTS.B,
29.49%,
2/07/25
..
210
213
991778729.UG.FTS.B,
29.49%,
2/07/25
..
97
99
991778741.UG.FTS.B,
29.49%,
2/07/25
..
739
728
991780427.UG.FTS.B,
29.49%,
2/07/25
..
2,768
(123)
991781324.UG.FTS.B,
29.49%,
2/07/25
..
151
154
991782212.UG.FTS.B,
29.49%,
2/07/25
..
418
420
991782217.UG.FTS.B,
29.49%,
2/07/25
..
138
10
991783819.UG.FTS.B,
29.49%,
2/07/25
..
369
376
991783921.UG.FTS.B,
29.49%,
2/07/25
..
437
442
991784149.UG.FTS.B,
29.49%,
2/07/25
..
668
449
991784501.UG.FTS.B,
29.49%,
2/07/25
..
105
107
991787156.UG.FTS.B,
29.49%,
2/07/25
..
68
69
991787510.UG.FTS.B,
29.49%,
2/07/25
..
184
131
991787617.UG.FTS.B,
29.49%,
2/07/25
..
107
109
991788685.UG.FTS.B,
29.49%,
2/07/25
..
854
855
991789088.UG.FTS.B,
29.49%,
2/07/25
..
279
36
991790908.UG.FTS.B,
29.49%,
2/07/25
..
772
788
991791306.UG.FTS.B,
29.49%,
2/07/25
..
175
174
991791504.UG.FTS.B,
29.49%,
2/07/25
..
108
111
991792140.UG.FTS.B,
29.49%,
2/07/25
..
31
31
991792553.UG.FTS.B,
29.49%,
2/07/25
..
349
75
991792599.UG.FTS.B,
29.49%,
2/07/25
..
1,071
(67)
991794167.UG.FTS.B,
29.49%,
2/07/25
..
45
45
991794594.UG.FTS.B,
29.49%,
2/07/25
..
91
91
991795473.UG.FTS.B,
29.49%,
2/07/25
..
640
651
991795942.UG.FTS.B,
29.49%,
2/07/25
..
29
29
991796624.UG.FTS.B,
29.49%,
2/07/25
..
664
678
991799844.UG.FTS.B,
29.49%,
2/07/25
..
91
92
991799981.UG.FTS.B,
29.49%,
2/07/25
..
196
13
991805572.UG.FTS.B,
29.49%,
2/07/25
..
42
42
991807111.UG.FTS.B,
29.49%,
2/07/25
..
203
200
991808521.UG.FTS.B,
29.49%,
2/07/25
..
625
636
991808743.UG.FTS.B,
29.49%,
2/07/25
..
12
12
991809177.UG.FTS.B,
29.49%,
2/07/25
..
351
350
991809318.UG.FTS.B,
29.49%,
2/07/25
..
154
158
991809911.UG.FTS.B,
29.49%,
2/07/25
..
55
55
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991810854.UG.FTS.B,
29.49%,
2/07/25
..
$
855
$
873
991813864.UG.FTS.B,
29.49%,
2/07/25
..
81
82
991814673.UG.FTS.B,
29.49%,
2/07/25
..
74
74
991815028.UG.FTS.B,
29.49%,
2/07/25
..
27
27
991815263.UG.FTS.B,
29.49%,
2/07/25
..
372
381
991815974.UG.FTS.B,
29.49%,
2/07/25
..
126
129
991818057.UG.FTS.B,
29.49%,
2/07/25
..
192
194
991819733.UG.FTS.B,
29.49%,
2/07/25
..
63
64
991819951.UG.FTS.B,
29.49%,
2/07/25
..
138
(6)
991822050.UG.FTS.B,
29.49%,
2/07/25
..
35
35
991826734.UG.FTS.B,
29.49%,
2/07/25
..
42
43
991827340.UG.FTS.B,
29.49%,
2/07/25
..
1,313
1,339
991828168.UG.FTS.B,
29.49%,
2/07/25
..
8
8
991829607.UG.FTS.B,
29.49%,
2/07/25
..
16
16
991831480.UG.FTS.B,
29.49%,
2/07/25
..
478
60
991832087.UG.FTS.B,
29.49%,
2/07/25
..
146
149
991832403.UG.FTS.B,
29.49%,
2/07/25
..
12
11
991833579.UG.FTS.B,
29.49%,
2/07/25
..
142
18
991834751.UG.FTS.B,
29.49%,
2/07/25
..
76
77
991835035.UG.FTS.B,
29.49%,
2/07/25
..
273
279
991835670.UG.FTS.B,
29.49%,
2/07/25
..
182
186
991836016.UG.FTS.B,
29.49%,
2/07/25
..
3,955
872
991836017.UG.FTS.B,
29.49%,
2/07/25
..
123
126
991836204.UG.FTS.B,
29.49%,
2/07/25
..
800
(26)
991837440.UG.FTS.B,
29.49%,
2/07/25
..
849
869
991841270.UG.FTS.B,
29.49%,
2/07/25
..
44
44
991842138.UG.FTS.B,
29.49%,
2/07/25
..
243
248
991842171.UG.FTS.B,
29.49%,
2/07/25
..
2
2
991842816.UG.FTS.B,
29.49%,
2/07/25
..
226
231
991843151.UG.FTS.B,
29.49%,
2/07/25
..
873
893
991843726.UG.FTS.B,
29.49%,
2/07/25
..
682
698
991843750.UG.FTS.B,
29.49%,
2/07/25
..
83
84
991845816.UG.FTS.B,
29.49%,
2/07/25
..
6
6
991846574.UG.FTS.B,
29.49%,
2/07/25
..
47
47
991848358.UG.FTS.B,
29.49%,
2/07/25
..
319
325
991848794.UG.FTS.B,
29.49%,
2/07/25
..
82
83
991851198.UG.FTS.B,
29.49%,
2/07/25
..
7
7
991852183.UG.FTS.B,
29.49%,
2/07/25
..
72
71
991852313.UG.FTS.B,
29.49%,
2/07/25
..
70
69
991852346.UG.FTS.B,
29.49%,
2/07/25
..
227
232
991852677.UG.FTS.B,
29.49%,
2/07/25
..
97
22
991853938.UG.FTS.B,
29.49%,
2/07/25
..
2,729
2,788
991857024.UG.FTS.B,
29.49%,
2/07/25
..
297
295
991857497.UG.FTS.B,
29.49%,
2/07/25
..
1
1
991858094.UG.FTS.B,
29.49%,
2/07/25
..
272
278
991858162.UG.FTS.B,
29.49%,
2/07/25
..
20
3
991860322.UG.FTS.B,
29.49%,
2/07/25
..
168
172
991868612.UG.FTS.B,
29.49%,
2/07/25
..
308
315
991868656.UG.FTS.B,
29.49%,
2/07/25
..
204
44
991880489.UG.FTS.B,
29.49%,
2/07/25
..
130
134
991883200.UG.FTS.B,
29.49%,
2/07/25
..
624
639
991883658.UG.FTS.B,
29.49%,
2/07/25
..
225
230
991884754.UG.FTS.B,
29.49%,
2/07/25
..
17
17
991885250.UG.FTS.B,
29.49%,
2/07/25
..
14
14
991885580.UG.FTS.B,
29.49%,
2/07/25
..
41
41
991887494.UG.FTS.B,
29.49%,
2/07/25
..
122
123
991887497.UG.FTS.B,
29.49%,
2/07/25
..
1,004
1,011
991889105.UG.FTS.B,
29.49%,
2/07/25
..
37
37
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
175
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991889654.UG.FTS.B,
29.49%,
2/07/25
..
$
45
$
45
991895165.UG.FTS.B,
29.49%,
2/07/25
..
21
21
991895721.UG.FTS.B,
29.49%,
2/07/25
..
257
258
991896283.UG.FTS.B,
29.49%,
2/07/25
..
1,194
768
991902084.UG.FTS.B,
29.49%,
2/07/25
..
25
25
991905008.UG.FTS.B,
29.49%,
2/07/25
..
33
34
991905127.UG.FTS.B,
29.49%,
2/07/25
..
31
(1)
991905470.UG.FTS.B,
29.49%,
2/07/25
..
46
2
991906662.UG.FTS.B,
29.49%,
2/07/25
..
40
40
991906939.UG.FTS.B,
29.49%,
2/07/25
..
1,177
1,176
991908268.UG.FTS.B,
29.49%,
2/07/25
..
181
181
991910701.UG.FTS.B,
29.49%,
2/07/25
..
37
36
991910987.UG.FTS.B,
29.49%,
2/07/25
..
12
12
991912493.UG.FTS.B,
29.49%,
2/07/25
..
969
972
991913150.UG.FTS.B,
29.49%,
2/07/25
..
10
10
991913870.UG.FTS.B,
29.49%,
2/07/25
..
1,784
1,772
991914240.UG.FTS.B,
29.49%,
2/07/25
..
429
421
991918574.UG.FTS.B,
29.49%,
2/07/25
..
389
390
991918681.UG.FTS.B,
29.49%,
2/07/25
..
464
467
991918743.UG.FTS.B,
29.49%,
2/07/25
..
824
824
991919279.UG.FTS.B,
29.49%,
2/07/25
..
8
7
991920075.UG.FTS.B,
29.49%,
2/07/25
..
6
6
991920887.UG.FTS.B,
29.49%,
2/07/25
..
121
8
991921344.UG.FTS.B,
29.49%,
2/07/25
..
44
44
991924425.UG.FTS.B,
29.49%,
2/07/25
..
174
21
991924576.UG.FTS.B,
29.49%,
2/07/25
..
247
247
991924888.UG.FTS.B,
29.49%,
2/07/25
..
171
37
991925769.UG.FTS.B,
29.49%,
2/07/25
..
19
19
991927085.UG.FTS.B,
29.49%,
2/07/25
..
181
182
991928399.UG.FTS.B,
29.49%,
2/07/25
..
212
15
991928759.UG.FTS.B,
29.49%,
2/07/25
..
113
111
991930298.UG.FTS.B,
29.49%,
2/07/25
..
16
16
991930808.UG.FTS.B,
29.49%,
2/07/25
..
819
810
991932639.UG.FTS.B,
29.49%,
2/07/25
..
57
1
991740615.UG.FTS.B,
29.99%,
2/07/25
..
146
97
991782534.UG.FTS.B,
14.97%,
2/08/25
..
952
972
991714655.UG.FTS.B,
14.98%,
2/08/25
..
6,824
749
991783643.UG.FTS.B,
14.98%,
2/08/25
..
1,779
1,816
991895441.UG.FTS.B,
14.98%,
2/08/25
..
911
576
991946691.UG.FTS.B,
14.98%,
2/08/25
..
87
88
991711757.UG.FTS.B,
15.97%,
2/08/25
..
556
568
991729261.UG.FTS.B,
15.97%,
2/08/25
..
110
110
991800861.UG.FTS.B,
15.97%,
2/08/25
..
7
7
991802379.UG.FTS.B,
15.97%,
2/08/25
..
446
455
991834646.UG.FTS.B,
15.97%,
2/08/25
..
2,403
2,454
991855467.UG.FTS.B,
15.97%,
2/08/25
..
37
38
991904951.UG.FTS.B,
15.97%,
2/08/25
..
304
309
991908489.UG.FTS.B,
15.97%,
2/08/25
..
443
453
991917251.UG.FTS.B,
15.97%,
2/08/25
..
354
360
991723142.UG.FTS.B,
16.99%,
2/08/25
..
449
458
991771363.UG.FTS.B,
16.99%,
2/08/25
..
2,237
2,283
991784207.UG.FTS.B,
16.99%,
2/08/25
..
268
274
991894055.UG.FTS.B,
16.99%,
2/08/25
..
268
273
991905481.UG.FTS.B,
16.99%,
2/08/25
..
182
184
991721411.UG.FTS.B,
17.99%,
2/08/25
..
896
914
991726915.UG.FTS.B,
17.99%,
2/08/25
..
39
33
991731306.UG.FTS.B,
17.99%,
2/08/25
..
13,907
14,186
991746485.UG.FTS.B,
17.99%,
2/08/25
..
74
75
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991868983.UG.FTS.B,
17.99%,
2/08/25
..
$
365
$
372
991717470.UG.FTS.B,
19.21%,
2/08/25
..
481
489
991723395.UG.FTS.B,
19.21%,
2/08/25
..
180
184
991715823.UG.FTS.B,
19.8%,
2/08/25
...
169
169
991729717.UG.FTS.B,
19.8%,
2/08/25
...
59
59
991716580.UG.FTS.B,
20.46%,
2/08/25
..
573
582
991724960.UG.FTS.B,
20.46%,
2/08/25
..
315
319
991753267.UG.FTS.B,
20.97%,
2/08/25
..
556
564
991716118.UG.FTS.B,
21.46%,
2/08/25
..
836
15
991721352.UG.FTS.B,
21.46%,
2/08/25
..
1,683
30
991726248.UG.FTS.B,
21.46%,
2/08/25
..
179
181
991716805.UG.FTS.B,
22.97%,
2/08/25
..
428
433
991752542.UG.FTS.B,
25.95%,
2/08/25
..
557
561
991722256.UG.FTS.B,
14.98%,
2/09/25
..
1,340
1,368
991809543.UG.FTS.B,
14.98%,
2/09/25
..
291
297
991724869.UG.FTS.B,
15%,
2/09/25
.....
1,142
1,166
991746108.UG.FTS.B,
15%,
2/09/25
.....
371
377
991746306.UG.FTS.B,
15%,
2/09/25
.....
2,199
2,238
991862382.UG.FTS.B,
15%,
2/09/25
.....
134
137
991908452.UG.FTS.B,
15%,
2/09/25
.....
2,657
2,712
991929779.UG.FTS.B,
15%,
2/09/25
.....
83
84
991737086.UG.FTS.B,
15.97%,
2/09/25
..
288
295
991749134.UG.FTS.B,
15.97%,
2/09/25
..
4,471
4,569
991755733.UG.FTS.B,
15.97%,
2/09/25
..
34
35
991775066.UG.FTS.B,
15.97%,
2/09/25
..
134
137
991781627.UG.FTS.B,
15.97%,
2/09/25
..
490
500
991719973.UG.FTS.B,
16.99%,
2/09/25
..
269
275
991721989.UG.FTS.B,
16.99%,
2/09/25
..
538
550
991778289.UG.FTS.B,
16.99%,
2/09/25
..
1,028
1,050
991783787.UG.FTS.B,
16.99%,
2/09/25
..
895
913
991784826.UG.FTS.B,
16.99%,
2/09/25
..
942
956
991863273.UG.FTS.B,
16.99%,
2/09/25
..
1,336
1,364
991741247.UG.FTS.B,
17.97%,
2/09/25
..
905
922
991724932.UG.FTS.B,
17.99%,
2/09/25
..
75
76
991732999.UG.FTS.B,
17.99%,
2/09/25
..
169
169
991764270.UG.FTS.B,
17.99%,
2/09/25
..
460
470
991785523.UG.FTS.B,
17.99%,
2/09/25
..
177
181
991806884.UG.FTS.B,
17.99%,
2/09/25
..
201
205
991830380.UG.FTS.B,
17.99%,
2/09/25
..
206
210
991867276.UG.FTS.B,
17.99%,
2/09/25
..
242
244
991693195.UG.FTS.B,
29.49%,
3/22/25
..
22
22
991732334.UG.FTS.B,
29.49%,
4/07/25
..
217
47
991658250.UG.FTS.B,
16.99%,
1/20/27
..
2,255
2,283
991607046.UG.FTS.B,
21.99%,
1/20/27
..
4,283
4,364
991630410.UG.FTS.B,
22.36%,
1/26/27
..
1,007
1,037
991784156.UG.FTS.B,
22.36%,
1/26/27
..
784
808
991624255.UG.FTS.B,
16.99%,
1/28/27
..
272
281
991611832.UG.FTS.B,
16.99%,
1/29/27
..
1,318
1,348
991624113.UG.FTS.B,
17.99%,
1/29/27
..
877
880
991610886.UG.FTS.B,
18.98%,
1/29/27
..
2,316
2,392
991664785.UG.FTS.B,
18.98%,
1/29/27
..
311
321
991859032.UG.FTS.B,
16.99%,
1/31/27
..
44
45
991678457.UG.FTS.B,
19.99%,
1/31/27
..
517
529
991663324.UG.FTS.B,
22.36%,
1/31/27
..
181
187
991676761.UG.FTS.B,
16.99%,
2/02/27
..
2,157
2,162
991721939.UG.FTS.B,
16.99%,
2/02/27
..
1,331
1,365
991734117.UG.FTS.B,
17.99%,
2/02/27
..
485
492
991734377.UG.FTS.B,
17.99%,
2/02/27
..
90
92
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
176
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991684567.UG.FTS.B,
15.99%,
2/03/27
..
$
519
$
531
991894965.UG.FTS.B,
16.99%,
2/03/27
..
5,654
5,751
991649343.UG.FTS.B,
28.98%,
2/17/27
..
–
–
991729693.UG.FTS.B,
28.98%,
2/17/27
..
–
–
991615148.UG.FTS.B,
29.49%,
2/17/27
..
–
–
991798578.UG.FTS.B,
29.49%,
2/18/27
..
–
–
991809578.UG.FTS.B,
15.97%,
2/20/27
..
–
–
991698689.UG.FTS.B,
28.98%,
2/20/27
..
–
–
991788603.UG.FTS.B,
29.49%,
2/20/27
..
–
–
991588921.UG.FTS.B,
29.49%,
2/22/27
..
–
–
991596716.UG.FTS.B,
29.49%,
2/22/27
..
–
–
991697854.UG.FTS.B,
28.98%,
2/23/27
..
–
–
991620282.UG.FTS.B,
29.49%,
2/24/27
..
–
–
991680207.UG.FTS.B,
29.49%,
2/24/27
..
–
–
991790453.UG.FTS.B,
22.97%,
3/05/27
..
–
–
991701716.UG.FTS.B,
29.49%,
3/05/27
..
8
8
991914738.UG.FTS.B,
29.49%,
3/05/27
..
–
–
991919978.UG.FTS.B,
29.49%,
3/05/27
..
–
–
991715282.UG.FTS.B,
29.49%,
3/06/27
..
4
4
991936111.UG.FTS.B,
29.49%,
3/06/27
..
–
–
991709783.UG.FTS.B,
28.48%,
3/07/27
..
–
–
991823142.UG.FTS.B,
29.48%,
3/07/27
..
–
–
991713395.UG.FTS.B,
29.49%,
3/07/27
..
–
–
991763220.UG.FTS.B,
29.49%,
3/07/27
..
17
17
991904002.UG.FTS.B,
29.49%,
3/07/27
..
4
0
991567877.UG.FTS.B,
29.49%,
3/17/27
..
–
–
991732498.UG.FTS.B,
29.49%,
3/18/27
..
–
–
991750559.UG.FTS.B,
21.48%,
3/19/27
..
–
–
991779985.UG.FTS.B,
28.98%,
3/19/27
..
–
–
991636909.UG.FTS.B,
Zero
Cpn,
3/21/27
.
5
–
991762668.UG.FTS.B,
29.49%,
3/21/27
..
9
1
991738317.UG.FTS.B,
19.96%,
3/22/27
..
4
2
991697928.UG.FTS.B,
28.98%,
3/23/27
..
–
–
991715184.UG.FTS.B,
19.99%,
3/24/27
..
–
–
991787639.UG.FTS.B,
29.49%,
3/24/27
..
8
1
991711901.UG.FTS.B,
17.49%,
4/02/27
..
–
–
991911647.UG.FTS.B,
28.48%,
4/04/27
..
–
–
991710044.UG.FTS.B,
29.49%,
4/05/27
..
6
0
991723292.UG.FTS.B,
29.49%,
4/05/27
..
4
0
991733536.UG.FTS.B,
29.49%,
4/05/27
..
–
–
991758534.UG.FTS.B,
29.49%,
4/05/27
..
0
0
991874787.UG.FTS.B,
29.49%,
4/05/27
..
7
7
991915147.UG.FTS.B,
21.98%,
4/07/27
..
–
–
991757784.UG.FTS.B,
28.98%,
4/07/27
..
–
–
991816335.UG.FTS.B,
29.49%,
4/07/27
..
–
–
991838891.UG.FTS.B,
29.49%,
4/07/27
..
–
–
991561540.UG.FTS.B,
28.98%,
4/17/27
..
–
–
991785018.UG.FTS.B,
28.98%,
4/17/27
..
–
–
991619761.UG.FTS.B,
29.49%,
4/17/27
..
–
–
991697511.UG.FTS.B,
29.49%,
4/17/27
..
8
1
991732828.UG.FTS.B,
29.49%,
4/17/27
..
–
–
991753910.UG.FTS.B,
29.49%,
4/17/27
..
10
1
991763282.UG.FTS.B,
29.49%,
4/17/27
..
–
–
991745741.UG.FTS.B,
29.49%,
4/18/27
..
–
–
991734556.UG.FTS.B,
28.98%,
4/19/27
..
7
1
991754104.UG.FTS.B,
28.98%,
4/20/27
..
10
1
991756695.UG.FTS.B,
29.49%,
4/20/27
..
1
0
991653485.UG.FTS.B,
26.44%,
4/21/27
..
9
1
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991633395.UG.FTS.B,
29.49%,
4/21/27
..
$
–
$
–
991795777.UG.FTS.B,
23.95%,
4/22/27
..
–
–
991662195.UG.FTS.B,
29.48%,
4/22/27
..
0
0
991698521.UG.FTS.B,
29.49%,
4/22/27
..
–
–
991789129.UG.FTS.B,
29.49%,
4/22/27
..
6
0
991808764.UG.FTS.B,
29.49%,
4/22/27
..
10
6
991824667.UG.FTS.B,
29.49%,
4/22/27
..
–
–
991650399.UG.FTS.B,
29.49%,
4/23/27
..
10
1
991736045.UG.FTS.B,
Zero
Cpn,
4/24/27
.
11
–
991796193.UG.FTS.B,
28.98%,
4/24/27
..
11
1
991630177.UG.FTS.B,
29.49%,
4/24/27
..
–
–
991717432.UG.FTS.B,
29.49%,
4/24/27
..
–
–
991789231.UG.FTS.B,
29.49%,
4/24/27
..
–
–
991919206.UG.FTS.B,
29.48%,
5/04/27
..
4
0
991909408.UG.FTS.B,
29.49%,
5/04/27
..
6
0
991738536.UG.FTS.B,
21.48%,
5/05/27
..
–
–
991850769.UG.FTS.B,
28.48%,
5/05/27
..
–
–
991806750.UG.FTS.B,
28.98%,
5/05/27
..
–
–
991697717.UG.FTS.B,
29.49%,
5/05/27
..
0
–
991709421.UG.FTS.B,
29.49%,
5/05/27
..
13
1
991741449.UG.FTS.B,
29.49%,
5/05/27
..
–
–
991781803.UG.FTS.B,
29.49%,
5/05/27
..
–
–
991793748.UG.FTS.B,
29.49%,
5/05/27
..
0
0
991831076.UG.FTS.B,
29.49%,
5/05/27
..
5
0
991919428.UG.FTS.B,
29.49%,
5/05/27
..
–
–
991708422.UG.FTS.B,
21.48%,
5/06/27
..
0
0
991706318.UG.FTS.B,
28.98%,
5/06/27
..
0
0
991704970.UG.FTS.B,
29.49%,
5/06/27
..
10
1
991736041.UG.FTS.B,
29.49%,
5/06/27
..
0
–
991746943.UG.FTS.B,
29.49%,
5/06/27
..
9
0
991842615.UG.FTS.B,
29.49%,
5/06/27
..
5
0
991870610.UG.FTS.B,
29.49%,
5/06/27
..
11
1
991924386.UG.FTS.B,
29.49%,
5/06/27
..
–
–
991932599.UG.FTS.B,
29.49%,
5/06/27
..
3
3
991751093.UG.FTS.B,
29.49%,
5/07/27
..
–
–
991767072.UG.FTS.B,
29.49%,
5/07/27
..
–
–
991770671.UG.FTS.B,
29.49%,
5/07/27
..
0
0
991779626.UG.FTS.B,
29.49%,
5/07/27
..
0
0
991855962.UG.FTS.B,
29.49%,
5/07/27
..
7
1
991781696.UG.FTS.B,
28.98%,
5/16/27
..
5
0
991581155.UG.FTS.B,
28.48%,
5/17/27
..
11
1
991554163.UG.FTS.B,
29.47%,
5/17/27
..
–
–
991553917.UG.FTS.B,
29.49%,
5/17/27
..
0
0
991622322.UG.FTS.B,
29.49%,
5/17/27
..
0
0
991659030.UG.FTS.B,
29.49%,
5/18/27
..
0
0
991688544.UG.FTS.B,
29.49%,
5/18/27
..
–
–
991702297.UG.FTS.B,
19.99%,
5/19/27
..
12
1
991667684.UG.FTS.B,
29.49%,
5/19/27
..
–
–
991697953.UG.FTS.B,
29.49%,
5/19/27
..
9
0
991680563.UG.FTS.B,
29.49%,
5/22/27
..
0
0
991692232.UG.FTS.B,
29.49%,
5/23/27
..
12
12
991695824.UG.FTS.B,
29.49%,
5/23/27
..
–
–
991788738.UG.FTS.B,
29.49%,
5/23/27
..
7
7
991597405.UG.FTS.B,
29.49%,
5/24/27
..
0
0
991697772.UG.FTS.B,
29.49%,
5/24/27
..
13
6
991698730.UG.FTS.B,
25.45%,
5/29/27
..
0
0
991644537.UG.FTS.B,
18.71%,
5/30/27
..
–
–
991908977.UG.FTS.B,
19.99%,
6/04/27
..
10
10
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
177
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991709552.UG.FTS.B,
28.98%,
6/04/27
..
$
–
$
–
991878692.UG.FTS.B,
29.49%,
6/04/27
..
–
–
991706592.UG.FTS.B,
28.98%,
6/05/27
..
–
–
991702452.UG.FTS.B,
29.49%,
6/05/27
..
0
0
991717197.UG.FTS.B,
29.49%,
6/05/27
..
–
–
991797889.UG.FTS.B,
29.49%,
6/05/27
..
14
0
991703738.UG.FTS.B,
27.95%,
6/06/27
..
0
0
991800465.UG.FTS.B,
28.98%,
6/06/27
..
8
0
991885361.UG.FTS.B,
28.98%,
6/06/27
..
–
–
991847597.UG.FTS.B,
29.49%,
6/06/27
..
14
1
991868498.UG.FTS.B,
29.49%,
6/06/27
..
0
0
991868697.UG.FTS.B,
29.49%,
6/06/27
..
–
–
991909030.UG.FTS.B,
29.49%,
6/06/27
..
0
0
991883358.UG.FTS.B,
19.99%,
6/07/27
..
18
1
991729541.UG.FTS.B,
28.98%,
6/07/27
..
2
2
991805475.UG.FTS.B,
29.49%,
6/07/27
..
0
0
991809194.UG.FTS.B,
29.49%,
6/07/27
..
–
–
991875316.UG.FTS.B,
29.49%,
6/07/27
..
–
–
991649143.UG.FTS.B,
28.98%,
6/17/27
..
–
–
991630221.UG.FTS.B,
29.49%,
6/17/27
..
13
0
991653283.UG.FTS.B,
22.47%,
6/19/27
..
0
0
991752444.UG.FTS.B,
28.98%,
6/19/27
..
–
–
991635800.UG.FTS.B,
29.49%,
6/19/27
..
10
10
991680516.UG.FTS.B,
29.49%,
6/21/27
..
10
10
991700654.UG.FTS.B,
29.49%,
6/21/27
..
7
1
991797212.UG.FTS.B,
29.49%,
6/21/27
..
2
0
991710299.UG.FTS.B,
28.98%,
6/22/27
..
8
1
991661586.UG.FTS.B,
29.49%,
6/22/27
..
0
0
991756199.UG.FTS.B,
29.49%,
6/22/27
..
11
0
991796553.UG.FTS.B,
29.49%,
6/22/27
..
0
0
991680628.UG.FTS.B,
15.97%,
6/23/27
..
0
0
991741524.UG.FTS.B,
23.95%,
6/23/27
..
16
15
991652783.UG.FTS.B,
28.48%,
6/24/27
..
10
0
991796318.UG.FTS.B,
28.48%,
6/24/27
..
2
0
991596778.UG.FTS.B,
28.98%,
6/24/27
..
–
–
991598203.UG.FTS.B,
29.49%,
6/24/27
..
23
2
991605901.UG.FTS.B,
29.49%,
6/24/27
..
0
0
991614149.UG.FTS.B,
29.49%,
6/24/27
..
0
0
991819648.UG.FTS.B,
21.98%,
7/05/27
..
1
1
991885330.UG.FTS.B,
24.45%,
7/05/27
..
16
0
991704158.UG.FTS.B,
29.49%,
7/05/27
..
14
0
991788436.UG.FTS.B,
29.49%,
7/05/27
..
–
–
991704077.UG.FTS.B,
29.49%,
7/06/27
..
22
2
991924009.UG.FTS.B,
29.49%,
7/06/27
..
4
4
991707047.UG.FTS.B,
29.49%,
7/07/27
..
0
0
991710309.UG.FTS.B,
29.49%,
7/07/27
..
3
1
991716440.UG.FTS.B,
29.49%,
7/07/27
..
22
2
991798099.UG.FTS.B,
29.49%,
7/07/27
..
0
0
991870198.UG.FTS.B,
29.49%,
7/07/27
..
–
–
991875785.UG.FTS.B,
29.49%,
7/07/27
..
3
1
991723700.UG.FTS.B,
28.48%,
7/17/27
..
–
–
991594316.UG.FTS.B,
29.48%,
7/17/27
..
0
0
991597971.UG.FTS.B,
29.49%,
7/17/27
..
0
0
991704271.UG.FTS.B,
29.49%,
7/18/27
..
9
1
991765180.UG.FTS.B,
29.49%,
7/18/27
..
4
4
991651882.UG.FTS.B,
Zero
Cpn,
7/19/27
.
25
–
991752703.UG.FTS.B,
29.49%,
7/19/27
..
7
2
991807031.UG.FTS.B,
29.49%,
7/20/27
..
18
0
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991791542.UG.FTS.B,
28.48%,
7/21/27
..
$
2
$
2
991820655.UG.FTS.B,
28.98%,
7/21/27
..
2
2
991637028.UG.FTS.B,
29.49%,
7/21/27
..
–
–
991653590.UG.FTS.B,
29.49%,
7/21/27
..
1
1
991653674.UG.FTS.B,
29.49%,
7/21/27
..
7
1
991764023.UG.FTS.B,
29.49%,
7/21/27
..
2
2
991823358.UG.FTS.B,
29.49%,
7/21/27
..
22
2
991776786.UG.FTS.B,
28.48%,
7/22/27
..
0
0
991677216.UG.FTS.B,
29.49%,
7/22/27
..
0
0
991687275.UG.FTS.B,
29.49%,
7/23/27
..
3
0
991822749.UG.FTS.B,
29.49%,
7/23/27
..
2
2
991625464.UG.FTS.B,
29.49%,
7/24/27
..
16
0
991628410.UG.FTS.B,
29.49%,
7/24/27
..
0
0
991639724.UG.FTS.B,
29.49%,
7/24/27
..
2
2
991761682.UG.FTS.B,
29.49%,
7/24/27
..
0
0
991747700.UG.FTS.B,
16.99%,
7/27/27
..
–
–
991902514.UG.FTS.B,
28.48%,
8/03/27
..
18
1
991923764.UG.FTS.B,
28.48%,
8/04/27
..
2
2
991913016.UG.FTS.B,
28.98%,
8/04/27
..
4
4
991710955.UG.FTS.B,
28.48%,
8/05/27
..
0
0
991762452.UG.FTS.B,
28.98%,
8/05/27
..
3
3
991816597.UG.FTS.B,
28.98%,
8/05/27
..
2
2
991913216.UG.FTS.B,
28.98%,
8/05/27
..
3
3
991694163.UG.FTS.B,
29.49%,
8/05/27
..
0
0
991694654.UG.FTS.B,
29.49%,
8/05/27
..
0
0
991697001.UG.FTS.B,
29.49%,
8/05/27
..
0
0
991697660.UG.FTS.B,
29.49%,
8/05/27
..
16
1
991753863.UG.FTS.B,
29.49%,
8/05/27
..
4
4
991759355.UG.FTS.B,
29.49%,
8/05/27
..
4
4
991763730.UG.FTS.B,
29.49%,
8/05/27
..
3
3
991790422.UG.FTS.B,
29.49%,
8/05/27
..
3
3
991791466.UG.FTS.B,
29.49%,
8/05/27
..
2
2
991815549.UG.FTS.B,
29.49%,
8/05/27
..
0
0
991817172.UG.FTS.B,
29.49%,
8/05/27
..
2
2
991853715.UG.FTS.B,
29.49%,
8/05/27
..
2
2
991811958.UG.FTS.B,
18.97%,
8/06/27
..
3
3
991890872.UG.FTS.B,
19.3%,
8/06/27
...
1
1
991921415.UG.FTS.B,
25.95%,
8/06/27
..
7
4
991742510.UG.FTS.B,
28.48%,
8/06/27
..
2
2
991700935.UG.FTS.B,
28.98%,
8/06/27
..
23
2
991769774.UG.FTS.B,
28.98%,
8/06/27
..
4
4
991818846.UG.FTS.B,
28.98%,
8/06/27
..
0
0
991702425.UG.FTS.B,
29.49%,
8/06/27
..
3
3
991707720.UG.FTS.B,
29.49%,
8/06/27
..
4
4
991736136.UG.FTS.B,
29.49%,
8/06/27
..
3
3
991745817.UG.FTS.B,
29.49%,
8/06/27
..
3
3
991746488.UG.FTS.B,
29.49%,
8/06/27
..
1
1
991766314.UG.FTS.B,
29.49%,
8/06/27
..
1
1
991867168.UG.FTS.B,
29.49%,
8/06/27
..
1
1
991904739.UG.FTS.B,
29.49%,
8/06/27
..
3
3
991909273.UG.FTS.B,
29.49%,
8/06/27
..
1
1
991924889.UG.FTS.B,
29.49%,
8/06/27
..
13
2
991766916.UG.FTS.B,
19.99%,
8/07/27
..
3
3
991847618.UG.FTS.B,
28.98%,
8/07/27
..
1
1
991925661.UG.FTS.B,
28.98%,
8/07/27
..
4
4
991789076.UG.FTS.B,
29.48%,
8/07/27
..
2
2
991738948.UG.FTS.B,
29.49%,
8/07/27
..
8
4
991745332.UG.FTS.B,
29.49%,
8/07/27
..
4
4
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
178
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upgrade,
Inc.
-
Card
(continued)
991753589.UG.FTS.B,
29.49%,
8/07/27
..
$
15
$
1
991763879.UG.FTS.B,
29.49%,
8/07/27
..
16
16
991788681.UG.FTS.B,
29.49%,
8/07/27
..
6
6
991793731.UG.FTS.B,
29.49%,
8/07/27
..
1
1
991799243.UG.FTS.B,
29.49%,
8/07/27
..
2
2
991814326.UG.FTS.B,
29.49%,
8/07/27
..
15
1
991824448.UG.FTS.B,
29.49%,
8/07/27
..
1
1
991911466.UG.FTS.B,
29.49%,
8/07/27
..
1
1
991931872.UG.FTS.B,
29.49%,
8/07/27
..
3
3
991933297.UG.FTS.B,
29.49%,
8/07/27
..
19
2
991560549.UG.FTS.B,
28.98%,
8/15/27
..
3
3
991765835.UG.FTS.B,
29.49%,
8/16/27
..
4
4
991567614.UG.FTS.B,
28.48%,
8/17/27
..
8
8
991568042.UG.FTS.B,
28.98%,
8/17/27
..
0
0
991695993.UG.FTS.B,
28.98%,
8/17/27
..
1
1
991789273.UG.FTS.B,
29.48%,
8/17/27
..
0
0
991575634.UG.FTS.B,
29.49%,
8/17/27
..
5
5
991580712.UG.FTS.B,
29.49%,
8/17/27
..
0
0
991709088.UG.FTS.B,
29.49%,
8/17/27
..
3
3
991714396.UG.FTS.B,
29.49%,
8/17/27
..
2
2
991748138.UG.FTS.B,
29.49%,
8/17/27
..
30
2
991777439.UG.FTS.B,
19.99%,
8/18/27
..
4
4
991744039.UG.FTS.B,
28.48%,
8/18/27
..
1
1
991752961.UG.FTS.B,
28.98%,
8/18/27
..
3
3
991761078.UG.FTS.B,
28.98%,
8/18/27
..
1
1
991702147.UG.FTS.B,
29.48%,
8/18/27
..
3
3
991755823.UG.FTS.B,
29.48%,
8/18/27
..
2
2
991741197.UG.FTS.B,
29.49%,
8/18/27
..
5
5
991762054.UG.FTS.B,
29.49%,
8/18/27
..
0
0
991781479.UG.FTS.B,
29.49%,
8/18/27
..
5
5
991634052.UG.FTS.B,
19.99%,
8/19/27
..
4
4
991671088.UG.FTS.B,
29.49%,
8/19/27
..
28
2
991792404.UG.FTS.B,
29.49%,
8/19/27
..
2
2
991800189.UG.FTS.B,
19.21%,
8/20/27
..
1
1
991786741.UG.FTS.B,
20.46%,
8/20/27
..
1
1
991799351.UG.FTS.B,
21.46%,
8/20/27
..
4
4
991678715.UG.FTS.B,
28.48%,
8/20/27
..
0
0
991789218.UG.FTS.B,
28.98%,
8/20/27
..
0
0
991758649.UG.FTS.B,
29.49%,
8/20/27
..
2
2
991778406.UG.FTS.B,
29.49%,
8/20/27
..
5
5
991779238.UG.FTS.B,
29.49%,
8/20/27
..
1
1
991796436.UG.FTS.B,
29.49%,
8/20/27
..
12
2
991807699.UG.FTS.B,
29.49%,
8/20/27
..
4
4
991741186.UG.FTS.B,
21.98%,
8/21/27
..
1
1
991671831.UG.FTS.B,
28.98%,
8/21/27
..
3
3
991768508.UG.FTS.B,
28.98%,
8/21/27
..
4
4
991760359.UG.FTS.B,
29.49%,
8/21/27
..
28
2
991793833.UG.FTS.B,
29.49%,
8/21/27
..
1
1
991796004.UG.FTS.B,
29.49%,
8/21/27
..
1
1
991812293.UG.FTS.B,
29.49%,
8/21/27
..
1
1
991752837.UG.FTS.B,
28.48%,
8/22/27
..
3
3
991679560.UG.FTS.B,
28.98%,
8/22/27
..
10
2
991644386.UG.FTS.B,
29.49%,
8/22/27
..
0
0
991756247.UG.FTS.B,
29.49%,
8/22/27
..
6
6
991637645.UG.FTS.B,
21.98%,
8/23/27
..
2
2
991758211.UG.FTS.B,
28.98%,
8/23/27
..
6
6
991661177.UG.FTS.B,
29.48%,
8/23/27
..
2
2
991591592.UG.FTS.B,
29.49%,
8/23/27
..
2
2
Description
Principal
Amount
Value
Upgrade,
Inc.
-
Card
(continued)
991631666.UG.FTS.B,
29.49%,
8/23/27
..
$
3
$
3
991700115.UG.FTS.B,
29.49%,
8/23/27
..
17
16
991753841.UG.FTS.B,
29.49%,
8/23/27
..
7
7
991636043.UG.FTS.B,
19.99%,
8/24/27
..
0
0
991679850.UG.FTS.B,
29.48%,
8/24/27
..
3
3
991750294.UG.FTS.B,
29.48%,
8/24/27
..
0
0
991802964.UG.FTS.B,
29.48%,
8/24/27
..
3
3
991595101.UG.FTS.B,
29.49%,
8/24/27
..
11
2
991616252.UG.FTS.B,
29.49%,
8/24/27
..
3
3
991643172.UG.FTS.B,
29.49%,
8/24/27
..
9
9
991653219.UG.FTS.B,
29.49%,
8/24/27
..
3
3
991663149.UG.FTS.B,
29.49%,
8/24/27
..
3
3
991692805.UG.FTS.B,
29.49%,
8/24/27
..
9
9
991731874.UG.FTS.B,
29.49%,
8/24/27
..
0
0
991743859.UG.FTS.B,
15.97%,
8/27/27
..
3
3
2,527,739
Upstart
Network,
Inc.
L1668275.UP.FTS.B,
5.93%,
9/14/24
....
2,367
2,346
L1708965.UP.FTS.B,
6.03%,
9/14/24
....
1,258
1,247
L1711338.UP.FTS.B,
7.31%,
9/14/24
.....
5,695
5,643
FW1711179.UP.FTS.B,
8.08%,
9/14/24
...
6,339
6,285
L1710504.UP.FTS.B,
8.16%,
9/14/24
....
3,876
3,653
L1710349.UP.FTS.B,
8.75%,
9/14/24
....
3,738
3,707
L1709609.UP.FTS.B,
9.38%,
9/14/24
....
4,487
4,448
L1710286.UP.FTS.B,
10.59%,
9/14/24
....
9,034
8,957
L1709477.UP.FTS.B,
10.67%,
9/14/24
....
2,336
2,203
L1709911.UP.FTS.B,
11.09%,
9/14/24
....
4,508
4,469
L1711863.UP.FTS.B,
11.39%,
9/14/24
....
2,643
2,620
L1709151.UP.FTS.B,
12.24%,
9/14/24
....
13,634
13,519
L1709495.UP.FTS.B,
12.77%,
9/14/24
....
1,915
1,897
L1711024.UP.FTS.B,
12.98%,
9/14/24
....
2,354
2,335
L1708601.UP.FTS.B,
13.04%,
9/14/24
....
5,318
5,273
L1709421.UP.FTS.B,
13.37%,
9/14/24
....
3,021
2,995
L1709684.UP.FTS.B,
13.76%,
9/14/24
....
1,521
1,508
FW1710146.UP.FTS.B,
13.91%,
9/14/24
..
2,286
2,264
L1709615.UP.FTS.B,
14.35%,
9/14/24
....
2,020
1,991
L1709128.UP.FTS.B,
16.69%,
9/14/24
....
770
762
L1710058.UP.FTS.B,
17.29%,
9/14/24
....
2,951
2,917
FW1708870.UP.FTS.B,
17.81%,
9/14/24
..
3,101
3,065
L1710277.UP.FTS.B,
18.02%,
9/14/24
....
11,597
11,483
L1711489.UP.FTS.B,
18.07%,
9/14/24
....
3,872
3,826
L1693265.UP.FTS.B,
18.16%,
9/14/24
....
1,160
1,149
L1708735.UP.FTS.B,
18.16%,
9/14/24
....
3,870
3,824
L1710205.UP.FTS.B,
18.33%,
9/14/24
....
3,870
3,832
L1712571.UP.FTS.B,
19.22%,
9/14/24
....
1,164
1,153
L1710755.UP.FTS.B,
19.46%,
9/14/24
....
3,900
3,854
L1711631.UP.FTS.B,
20.05%,
9/14/24
....
1,635
1,612
L1709586.UP.FTS.B,
20.13%,
9/14/24
....
785
776
L1709921.UP.FTS.B,
20.29%,
9/14/24
....
779
771
L1710054.UP.FTS.B,
20.94%,
9/14/24
....
23,425
23,194
L1701584.UP.FTS.B,
21.4%,
9/14/24
....
1,877
1,850
L1709086.UP.FTS.B,
21.87%,
9/14/24
....
5,456
5,377
L1709006.UP.FTS.B,
22.7%,
9/14/24
....
2,354
2,320
L1712071.UP.FTS.B,
22.99%,
9/14/24
....
1,730
1,705
L1711537.UP.FTS.B,
23.1%,
9/14/24
.....
1,416
1,402
L1711075.UP.FTS.B,
23.16%,
9/14/24
....
1,180
1,163
L1709547.UP.FTS.B,
23.36%,
9/14/24
....
5,196
5,123
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
179
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
L1706779.UP.FTS.B,
23.41%,
9/14/24
....
$
1,417
$
1,397
L1711142.UP.FTS.B,
23.72%,
9/14/24
....
858
845
L1709631.UP.FTS.B,
24.23%,
9/14/24
....
4,736
4,668
FW1710630.UP.FTS.B,
24.53%,
9/14/24
..
5,530
5,451
FW1709769.UP.FTS.B,
24.54%,
9/14/24
..
3,193
3,144
FW1710815.UP.FTS.B,
26.35%,
9/14/24
..
783
771
FW1710161.UP.FTS.B,
26.64%,
9/14/24
..
8,210
8,045
FW1709118.UP.FTS.B,
27.71%,
9/14/24
..
1,596
1,573
FW1710819.UP.FTS.B,
27.74%,
9/14/24
..
2,686
39
FW1709444.UP.FTS.B,
27.86%,
9/14/24
..
2,421
2,384
FW1710922.UP.FTS.B,
28.53%,
9/14/24
..
800
789
FW1710689.UP.FTS.B,
28.87%,
9/14/24
..
2,998
448
FW1710694.UP.FTS.B,
29.46%,
9/14/24
..
16,045
15,815
FW1710062.UP.FTS.B,
30.06%,
9/14/24
..
1,447
1,427
FW1711508.UP.FTS.B,
30.59%,
9/14/24
..
5,104
5,022
L1874342.UP.FTS.B,
5.92%,
10/18/24
....
11,833
11,735
L1873274.UP.FTS.B,
6.44%,
10/18/24
....
5,374
5,330
L1873054.UP.FTS.B,
6.73%,
10/18/24
....
13,447
13,338
L1874011.UP.FTS.B,
6.93%,
10/18/24
....
7,690
7,627
FW1874507.UP.FTS.B,
7.36%,
10/18/24
..
2,310
2,292
L1874340.UP.FTS.B,
7.48%,
10/18/24
....
12,250
12,150
L1873016.UP.FTS.B,
8.3%,
10/18/24
....
3,090
3,065
L1873058.UP.FTS.B,
8.3%,
10/18/24
....
3,848
3,816
L1873371.UP.FTS.B,
8.48%,
10/18/24
....
9,277
9,202
L1873862.UP.FTS.B,
8.52%,
10/18/24
....
1,546
1,534
L1873876.UP.FTS.B,
8.87%,
10/18/24
....
12,135
3,228
FW1874503.UP.FTS.B,
9.4%,
10/18/24
...
6,690
6,633
L1873457.UP.FTS.B,
9.58%,
10/18/24
....
776
770
L1873276.UP.FTS.B,
10.26%,
10/18/24
...
6,222
6,172
L1873969.UP.FTS.B,
10.92%,
10/18/24
...
780
773
L1873212.UP.FTS.B,
11.39%,
10/18/24
...
13,044
12,321
L1873534.UP.FTS.B,
11.86%,
10/18/24
...
685
677
L1872565.UP.FTS.B,
13.63%,
10/18/24
...
3,933
3,902
FW1873666.UP.FTS.B,
14.61%,
10/18/24
.
1,355
1,341
L1873890.UP.FTS.B,
14.95%,
10/18/24
...
1,738
1,721
L1873908.UP.FTS.B,
15.55%,
10/18/24
...
1,187
1,176
L1874133.UP.FTS.B,
16.04%,
10/18/24
...
4,070
3,845
L1873474.UP.FTS.B,
16.06%,
10/18/24
...
2,219
2,198
L1873316.UP.FTS.B,
16.33%,
10/18/24
...
2,616
2,591
L1873998.UP.FTS.B,
16.56%,
10/18/24
...
4,764
4,718
L1873542.UP.FTS.B,
16.72%,
10/18/24
...
181
178
FW1873500.UP.FTS.B,
17.14%,
10/18/24
.
828
229
L1873175.UP.FTS.B,
17.39%,
10/18/24
...
1,592
1,577
FW1873590.UP.FTS.B,
17.67%,
10/18/24
.
7,163
7,094
FW1874334.UP.FTS.B,
18.25%,
10/18/24
.
6,784
6,719
L1873935.UP.FTS.B,
18.25%,
10/18/24
...
2,376
2,352
FW1874411.UP.FTS.B,
18.35%,
10/18/24
.
8,701
8,618
L1873189.UP.FTS.B,
18.36%,
10/18/24
...
4,790
4,745
L1869487.UP.FTS.B,
18.66%,
10/18/24
...
4,795
4,749
L1873369.UP.FTS.B,
18.74%,
10/18/24
...
11,984
11,869
L1874319.UP.FTS.B,
19.26%,
10/18/24
...
4,986
4,707
L1873329.UP.FTS.B,
19.32%,
10/18/24
...
2,402
2,379
L1874232.UP.FTS.B,
19.37%,
10/18/24
...
9,628
9,486
FW1859012.UP.FTS.B,
19.54%,
10/18/24
.
12,019
11,858
L1873978.UP.FTS.B,
20.05%,
10/18/24
...
826
779
L1873964.UP.FTS.B,
20.13%,
10/18/24
...
3,379
3,341
L1873264.UP.FTS.B,
20.49%,
10/18/24
...
1,447
1,427
FW1873354.UP.FTS.B,
20.69%,
10/18/24
.
1,275
368
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
L1873242.UP.FTS.B,
21.35%,
10/18/24
...
$
2,518
$
2,482
L1873872.UP.FTS.B,
21.59%,
10/18/24
...
1,278
1,265
L1872932.UP.FTS.B,
21.9%,
10/18/24
....
15,586
15,366
L1873288.UP.FTS.B,
21.91%,
10/18/24
...
4,433
681
L1871398.UP.FTS.B,
22.03%,
10/18/24
...
1,674
1,579
L1873912.UP.FTS.B,
22.05%,
10/18/24
...
3,633
3,584
L1873367.UP.FTS.B,
22.09%,
10/18/24
...
1,126
1,111
L1873736.UP.FTS.B,
22.12%,
10/18/24
...
8,075
7,967
L1873171.UP.FTS.B,
22.25%,
10/18/24
...
1,616
1,594
FW1873087.UP.FTS.B,
22.36%,
10/18/24
.
1,616
1,601
FW1872256.UP.FTS.B,
22.75%,
10/18/24
.
4,271
1,239
L1873179.UP.FTS.B,
22.76%,
10/18/24
...
1,618
1,596
L1874384.UP.FTS.B,
23.32%,
10/18/24
...
1,540
1,520
FW1873765.UP.FTS.B,
23.44%,
10/18/24
.
4,792
4,724
L1874136.UP.FTS.B,
23.45%,
10/18/24
...
2,533
2,497
L1874372.UP.FTS.B,
23.49%,
10/18/24
...
3,147
3,090
FW1873053.UP.FTS.B,
23.65%,
10/18/24
.
1,785
1,761
L1872590.UP.FTS.B,
23.91%,
10/18/24
...
2,399
2,365
FW1874061.UP.FTS.B,
24.44%,
10/18/24
.
813
802
L1873402.UP.FTS.B,
25.1%,
10/18/24
....
5,136
5,060
FW1874297.UP.FTS.B,
25.54%,
10/18/24
.
5,057
4,989
FW1874479.UP.FTS.B,
26.04%,
10/18/24
.
2,937
2,771
FW1873281.UP.FTS.B,
26.17%,
10/18/24
.
3,697
263
FW1873991.UP.FTS.B,
27.32%,
10/18/24
.
2,459
2,426
FW1866558.UP.FTS.B,
27.33%,
10/18/24
.
4,099
4,044
FW1873999.UP.FTS.B,
27.39%,
10/18/24
.
1,698
1,674
FW1874223.UP.FTS.B,
27.57%,
10/18/24
.
580
569
FW1873437.UP.FTS.B,
27.74%,
10/18/24
.
103
101
FW1873960.UP.FTS.B,
28.04%,
10/18/24
.
4,268
4,188
FW1873200.UP.FTS.B,
28.1%,
10/18/24
..
2,054
2,026
FW1870326.UP.FTS.B,
28.36%,
10/18/24
.
8,221
8,111
FW1874036.UP.FTS.B,
28.84%,
10/18/24
.
1,976
1,949
FW1873257.UP.FTS.B,
28.88%,
10/18/24
.
952
280
FW1873386.UP.FTS.B,
29.18%,
10/18/24
.
824
813
FW1874537.UP.FTS.B,
29.48%,
10/18/24
.
4,744
337
L2009164.UP.FTS.B,
7.47%,
11/09/24
....
7,964
7,898
L2007742.UP.FTS.B,
8.31%,
11/09/24
....
1,996
1,979
L2005982.UP.FTS.B,
8.37%,
11/09/24
....
6,389
6,333
L2009147.UP.FTS.B,
8.62%,
11/09/24
....
1,598
1,584
FW2006255.UP.FTS.B,
8.72%,
11/09/24
..
2,078
2,060
L2006066.UP.FTS.B,
9.09%,
11/09/24
....
800
793
L2006429.UP.FTS.B,
9.93%,
11/09/24
....
40,116
39,766
L2006357.UP.FTS.B,
10.1%,
11/09/24
....
1,606
1,592
FW2005536.UP.FTS.B,
10.27%,
11/09/24
.
3,213
3,185
L2009057.UP.FTS.B,
10.3%,
11/09/24
....
9,639
9,555
L2007334.UP.FTS.B,
10.62%,
11/09/24
...
4,020
3,986
FW2006816.UP.FTS.B,
10.79%,
11/09/24
.
6,665
6,600
L2007501.UP.FTS.B,
10.81%,
11/09/24
...
4,990
2,731
FW2008742.UP.FTS.B,
11.03%,
11/09/24
.
8,050
7,976
L2009390.UP.FTS.B,
11.11%,
11/09/24
...
5,475
5,425
L2007022.UP.FTS.B,
11.29%,
11/09/24
...
1,611
1,596
FW1975632.UP.FTS.B,
11.37%,
11/09/24
.
2,498
2,475
L2009109.UP.FTS.B,
11.99%,
11/09/24
...
4,024
3,989
L1980258.UP.FTS.B,
12.16%,
11/09/24
...
17,606
17,455
L2010096.UP.FTS.B,
12.85%,
11/09/24
...
9,638
495
L2008566.UP.FTS.B,
13.59%,
11/09/24
...
811
804
L2008572.UP.FTS.B,
13.72%,
11/09/24
...
4,665
4,620
L2000304.UP.FTS.B,
13.97%,
11/09/24
...
3,328
3,299
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
180
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
L2008598.UP.FTS.B,
14.12%,
11/09/24
...
$
2,437
$
2,415
L2009526.UP.FTS.B,
14.46%,
11/09/24
...
3,372
1,961
L2009600.UP.FTS.B,
14.49%,
11/09/24
...
4,066
4,017
L2007591.UP.FTS.B,
14.78%,
11/09/24
...
2,039
2,020
L2007212.UP.FTS.B,
15.12%,
11/09/24
...
5,326
5,255
FW2004099.UP.FTS.B,
15.18%,
11/09/24
.
2,444
2,414
L2007837.UP.FTS.B,
15.4%,
11/09/24
....
3,555
515
L2009870.UP.FTS.B,
15.75%,
11/09/24
...
2,448
2,426
L2005874.UP.FTS.B,
15.93%,
11/09/24
...
13,878
13,710
L1964575.UP.FTS.B,
16.42%,
11/09/24
...
1,645
1,624
L2006407.UP.FTS.B,
16.56%,
11/09/24
...
6,543
6,464
L2009557.UP.FTS.B,
16.56%,
11/09/24
...
4,906
4,847
L2010209.UP.FTS.B,
16.76%,
11/09/24
...
3,555
510
FW2006915.UP.FTS.B,
17.05%,
11/09/24
.
1,638
1,618
L2008387.UP.FTS.B,
17.08%,
11/09/24
...
3,849
3,803
FW2008245.UP.FTS.B,
17.41%,
11/09/24
.
4,098
4,049
L2009227.UP.FTS.B,
17.41%,
11/09/24
...
2,869
2,834
L2007287.UP.FTS.B,
17.58%,
11/09/24
...
9,841
9,723
FW2006977.UP.FTS.B,
17.62%,
11/09/24
.
4,101
4,051
FW2008456.UP.FTS.B,
17.88%,
11/09/24
.
8,224
8,115
L2008995.UP.FTS.B,
18.45%,
11/09/24
...
104
54
L2004862.UP.FTS.B,
18.66%,
11/09/24
...
19,206
1,398
L2006019.UP.FTS.B,
18.67%,
11/09/24
...
2,465
2,436
L2006884.UP.FTS.B,
18.86%,
11/09/24
...
7,369
7,279
FW2008385.UP.FTS.B,
19.08%,
11/09/24
.
2,072
2,045
L2008991.UP.FTS.B,
19.31%,
11/09/24
...
8,239
8,141
FW2009194.UP.FTS.B,
19.65%,
11/09/24
.
2,474
2,445
L2007944.UP.FTS.B,
19.85%,
11/09/24
...
2,970
2,922
L2004937.UP.FTS.B,
19.9%,
11/09/24
....
5,501
5,428
L2007765.UP.FTS.B,
19.9%,
11/09/24
....
5,622
5,548
L2005921.UP.FTS.B,
19.92%,
11/09/24
...
3,324
3,280
L2009435.UP.FTS.B,
20.15%,
11/09/24
...
13,625
13,403
L2004417.UP.FTS.B,
20.16%,
11/09/24
...
2,478
2,449
FW2008873.UP.FTS.B,
20.22%,
11/09/24
.
2,921
2,876
L2008874.UP.FTS.B,
20.27%,
11/09/24
...
8,236
8,101
L2007505.UP.FTS.B,
20.32%,
11/09/24
...
2,644
2,612
L2006510.UP.FTS.B,
20.49%,
11/09/24
...
4,546
4,492
L2007014.UP.FTS.B,
20.64%,
11/09/24
...
3,757
3,702
L2005439.UP.FTS.B,
20.7%,
11/09/24
....
1,496
1,470
L2010279.UP.FTS.B,
20.87%,
11/09/24
...
3,297
3,235
L2008398.UP.FTS.B,
20.91%,
11/09/24
...
2,482
2,442
L2004915.UP.FTS.B,
21%,
11/09/24
.....
8,279
8,144
L2009328.UP.FTS.B,
21.06%,
11/09/24
...
1,407
1,391
FW2010100.UP.FTS.B,
21.34%,
11/09/24
.
4,122
4,054
L2009663.UP.FTS.B,
21.46%,
11/09/24
...
4,143
4,076
L2008515.UP.FTS.B,
21.79%,
11/09/24
...
7,464
7,343
L2006419.UP.FTS.B,
22.06%,
11/09/24
...
824
814
L2008922.UP.FTS.B,
22.21%,
11/09/24
...
1,660
1,634
L2009367.UP.FTS.B,
22.33%,
11/09/24
...
7,474
7,354
L2009655.UP.FTS.B,
22.54%,
11/09/24
...
3,309
3,255
L2010143.UP.FTS.B,
22.58%,
11/09/24
...
1,838
1,806
L2009735.UP.FTS.B,
22.61%,
11/09/24
...
4,747
2,857
L2004913.UP.FTS.B,
22.66%,
11/09/24
...
6,624
6,515
FW2003014.UP.FTS.B,
22.75%,
11/09/24
.
14,550
14,315
L2009465.UP.FTS.B,
22.87%,
11/09/24
...
4,199
4,129
L2006957.UP.FTS.B,
23.01%,
11/09/24
...
1,165
1,146
L2007564.UP.FTS.B,
23.08%,
11/09/24
...
5,165
5,073
L2009173.UP.FTS.B,
23.31%,
11/09/24
...
4,899
349
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
L2008674.UP.FTS.B,
23.54%,
11/09/24
...
$
4,153
$
4,085
FW2008479.UP.FTS.B,
24.13%,
11/09/24
.
4,441
4,356
FW2007173.UP.FTS.B,
24.62%,
11/09/24
.
829
819
FW2009937.UP.FTS.B,
26.34%,
11/09/24
.
3,910
3,841
FW2009505.UP.FTS.B,
26.53%,
11/09/24
.
2,519
2,479
FW2009640.UP.FTS.B,
26.74%,
11/09/24
.
7,369
524
FW2005459.UP.FTS.B,
26.79%,
11/09/24
.
827
813
FW2005316.UP.FTS.B,
26.93%,
11/09/24
.
840
827
FW2007706.UP.FTS.B,
28.18%,
11/09/24
.
1,264
1,244
FW2008048.UP.FTS.B,
28.27%,
11/09/24
.
843
830
FW2008337.UP.FTS.B,
28.31%,
11/09/24
.
3,373
3,320
FW2009522.UP.FTS.B,
28.31%,
11/09/24
.
7,600
7,472
FW2008582.UP.FTS.B,
28.77%,
11/09/24
.
938
562
FW2008565.UP.FTS.B,
28.92%,
11/09/24
.
3,397
3,340
FW2004867.UP.FTS.B,
29.1%,
11/09/24
..
5,110
3,066
L2079356.UP.FTS.B,
6.34%,
11/19/24
....
15,841
15,719
L2077512.UP.FTS.B,
6.51%,
11/19/24
....
3,970
3,940
L2077314.UP.FTS.B,
7.63%,
11/19/24
....
4,781
4,745
L2079482.UP.FTS.B,
7.7%,
11/19/24
.....
5,180
5,140
FW2078418.UP.FTS.B,
7.82%,
11/19/24
..
39,844
39,536
L2077413.UP.FTS.B,
8.09%,
11/19/24
....
3,442
3,413
L2077593.UP.FTS.B,
8.69%,
11/19/24
....
3,997
3,966
L2077781.UP.FTS.B,
10.54%,
11/19/24
...
1,763
1,750
L2078215.UP.FTS.B,
10.8%,
11/19/24
....
5,953
5,908
L2077816.UP.FTS.B,
11%,
11/19/24
.....
966
959
L2077041.UP.FTS.B,
11.38%,
11/19/24
...
4,014
3,984
L2080776.UP.FTS.B,
11.71%,
11/19/24
...
7,711
7,654
FW2077955.UP.FTS.B,
11.92%,
11/19/24
.
2,421
2,403
L2078813.UP.FTS.B,
13.69%,
11/19/24
...
7,066
6,974
L2076941.UP.FTS.B,
13.71%,
11/19/24
...
8,401
7,934
L2078440.UP.FTS.B,
13.79%,
11/19/24
...
3,488
3,460
L2072646.UP.FTS.B,
15.11%,
11/19/24
...
2,443
2,420
L2077920.UP.FTS.B,
15.31%,
11/19/24
...
4,075
4,036
L2080157.UP.FTS.B,
15.6%,
11/19/24
....
4,784
4,619
L2076486.UP.FTS.B,
15.67%,
11/19/24
...
2,202
2,182
L2076313.UP.FTS.B,
15.86%,
11/19/24
...
1,061
1,051
L2079064.UP.FTS.B,
15.95%,
11/19/24
...
4,086
4,042
FW2076817.UP.FTS.B,
16.69%,
11/19/24
.
1,227
1,216
L2077907.UP.FTS.B,
17.76%,
11/19/24
...
3,468
965
L2077340.UP.FTS.B,
17.78%,
11/19/24
...
6,564
6,503
L2076392.UP.FTS.B,
18.07%,
11/19/24
...
4,048
3,822
L2077616.UP.FTS.B,
18.56%,
11/19/24
...
5,116
1,425
FW2078600.UP.FTS.B,
18.83%,
11/19/24
.
823
815
L2076288.UP.FTS.B,
19.02%,
11/19/24
...
3,128
3,099
L2080023.UP.FTS.B,
19.49%,
11/19/24
...
7,402
7,332
L2077669.UP.FTS.B,
19.72%,
11/19/24
...
783
774
FW2078328.UP.FTS.B,
19.87%,
11/19/24
.
4,096
4,058
FW2076493.UP.FTS.B,
20.14%,
11/19/24
.
2,064
2,045
L2070757.UP.FTS.B,
20.15%,
11/19/24
...
1,486
1,473
L2077506.UP.FTS.B,
20.58%,
11/19/24
...
4,911
4,846
L2077765.UP.FTS.B,
21.13%,
11/19/24
...
829
820
L2080270.UP.FTS.B,
21.47%,
11/19/24
...
3,315
3,284
FW2078088.UP.FTS.B,
22.1%,
11/19/24
..
1,660
1,639
L2077458.UP.FTS.B,
22.17%,
11/19/24
...
5,970
5,639
L2073213.UP.FTS.B,
22.2%,
11/19/24
....
875
254
FW2079771.UP.FTS.B,
22.21%,
11/19/24
.
4,151
4,113
L2068552.UP.FTS.B,
22.21%,
11/19/24
...
1,993
1,967
L2079118.UP.FTS.B,
22.29%,
11/19/24
...
8,304
8,198
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
181
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
L2077140.UP.FTS.B,
22.69%,
11/19/24
...
$
5,053
$
4,989
L2077284.UP.FTS.B,
22.9%,
11/19/24
....
6,238
6,159
L2077715.UP.FTS.B,
23.03%,
11/19/24
...
1,248
1,237
L2074944.UP.FTS.B,
23.05%,
11/19/24
...
3,765
3,710
FW2079002.UP.FTS.B,
23.06%,
11/19/24
.
1,676
13
L2076512.UP.FTS.B,
23.14%,
11/19/24
...
4,432
675
L2079686.UP.FTS.B,
23.16%,
11/19/24
...
1,286
30
FW2076824.UP.FTS.B,
23.23%,
11/19/24
.
2,664
2,639
L2077061.UP.FTS.B,
23.44%,
11/19/24
...
2,839
2,800
FW2078990.UP.FTS.B,
23.53%,
11/19/24
.
3,749
3,701
FW2078899.UP.FTS.B,
24.04%,
11/19/24
.
5,783
5,462
FW2080736.UP.FTS.B,
25.04%,
11/19/24
.
1,672
1,644
L2076355.UP.FTS.B,
25.17%,
11/19/24
...
5,678
5,606
FW2080449.UP.FTS.B,
25.53%,
11/19/24
.
5,861
5,787
FW2073639.UP.FTS.B,
25.65%,
11/19/24
.
2,476
2,443
FW2030197.UP.FTS.B,
26.12%,
11/19/24
.
7,585
544
FW2080418.UP.FTS.B,
26.74%,
11/19/24
.
1,680
1,659
FW2077101.UP.FTS.B,
27.6%,
11/19/24
..
3,358
989
FW2077958.UP.FTS.B,
27.77%,
11/19/24
.
8,419
8,314
FW2077645.UP.FTS.B,
27.94%,
11/19/24
.
2,081
2,054
FW2077222.UP.FTS.B,
28.34%,
11/19/24
.
5,059
4,995
FW2076539.UP.FTS.B,
29.12%,
11/19/24
.
959
946
FW2080054.UP.FTS.B,
30.2%,
11/19/24
..
2,470
2,427
L2197817.UP.FTS.B,
6.54%,
12/07/24
....
4,922
4,880
L2197814.UP.FTS.B,
6.94%,
12/07/24
....
1,643
1,628
L2192487.UP.FTS.B,
8.02%,
12/07/24
....
16,474
16,319
FW2198636.UP.FTS.B,
11.41%,
12/07/24
.
4,155
4,113
FW2196231.UP.FTS.B,
11.5%,
12/07/24
..
9,974
9,874
L2196723.UP.FTS.B,
12.12%,
12/07/24
...
5,411
5,357
L2196919.UP.FTS.B,
12.98%,
12/07/24
...
2,770
2,742
L2199259.UP.FTS.B,
13.19%,
12/07/24
...
3,756
3,719
FW2199236.UP.FTS.B,
13.4%,
12/07/24
..
1,253
1,240
L2152837.UP.FTS.B,
14.7%,
12/07/24
....
6,284
6,196
FW2196253.UP.FTS.B,
15.31%,
12/07/24
.
1,259
1,241
L2199973.UP.FTS.B,
16.17%,
12/07/24
...
2,523
2,487
L2196295.UP.FTS.B,
16.26%,
12/07/24
...
4,537
4,473
L2197093.UP.FTS.B,
16.43%,
12/07/24
...
4,450
4,383
L2198109.UP.FTS.B,
16.63%,
12/07/24
...
842
830
L2197668.UP.FTS.B,
17.17%,
12/07/24
...
2,107
2,078
FW2197769.UP.FTS.B,
17.83%,
12/07/24
.
2,125
2,094
L2196102.UP.FTS.B,
17.88%,
12/07/24
...
9,198
9,063
L2186564.UP.FTS.B,
18.32%,
12/07/24
...
9,136
1,300
L2199581.UP.FTS.B,
19.33%,
12/07/24
...
1,525
1,504
FW2200254.UP.FTS.B,
19.34%,
12/07/24
.
1,695
1,671
FW2199717.UP.FTS.B,
20.13%,
12/07/24
.
4,245
4,166
L2195358.UP.FTS.B,
20.15%,
12/07/24
...
849
837
L2195122.UP.FTS.B,
20.26%,
12/07/24
...
4,598
4,530
L2198118.UP.FTS.B,
20.43%,
12/07/24
...
1,699
1,675
L2198032.UP.FTS.B,
20.55%,
12/07/24
...
3,399
3,336
L2196647.UP.FTS.B,
21.51%,
12/07/24
...
5,110
5,038
L2199295.UP.FTS.B,
21.7%,
12/07/24
....
2,130
2,091
L2199073.UP.FTS.B,
21.87%,
12/07/24
...
2,131
2,101
L2195775.UP.FTS.B,
22.71%,
12/07/24
...
1,281
1,257
L2197271.UP.FTS.B,
22.76%,
12/07/24
...
7,687
7,545
FW2198017.UP.FTS.B,
23.08%,
12/07/24
.
2,564
2,517
L2199437.UP.FTS.B,
23.33%,
12/07/24
...
6,648
473
L2196613.UP.FTS.B,
23.35%,
12/07/24
...
5,710
5,605
FW2195695.UP.FTS.B,
24.83%,
12/07/24
.
4,278
4,199
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
FW2195888.UP.FTS.B,
24.84%,
12/07/24
.
$
816
$
800
FW2199208.UP.FTS.B,
25.58%,
12/07/24
.
3,438
3,374
FW2195682.UP.FTS.B,
26.39%,
12/07/24
.
2,926
209
FW2195724.UP.FTS.B,
27.53%,
12/07/24
.
2,312
335
FW2198393.UP.FTS.B,
27.56%,
12/07/24
.
3,107
3,050
FW2198291.UP.FTS.B,
28.01%,
12/07/24
.
16,044
548
FW2196720.UP.FTS.B,
29.15%,
12/07/24
.
3,860
272
L2201298.UP.FTS.B,
6.04%,
12/08/24
....
1,535
1,522
L2203520.UP.FTS.B,
6.61%,
12/08/24
....
15,098
14,974
FW2201265.UP.FTS.B,
7.44%,
12/08/24
..
5,757
5,705
L2200896.UP.FTS.B,
7.68%,
12/08/24
....
5,761
5,709
L2204703.UP.FTS.B,
8.41%,
12/08/24
....
168
166
L2150213.UP.FTS.B,
8.58%,
12/08/24
....
5,109
5,060
L2200163.UP.FTS.B,
8.73%,
12/08/24
....
6,189
6,134
L2204262.UP.FTS.B,
8.78%,
12/08/24
....
1,651
1,636
L2202574.UP.FTS.B,
9.1%,
12/08/24
....
6,195
6,140
FW2206887.UP.FTS.B,
9.22%,
12/08/24
..
8,263
8,190
L2202371.UP.FTS.B,
9.29%,
12/08/24
....
1,240
1,229
L2202647.UP.FTS.B,
9.47%,
12/08/24
....
2,793
2,767
L2206982.UP.FTS.B,
9.5%,
12/08/24
....
827
820
L2201633.UP.FTS.B,
10.05%,
12/08/24
...
8,032
7,962
L2202275.UP.FTS.B,
10.28%,
12/08/24
...
16,572
16,426
L2206909.UP.FTS.B,
11.8%,
12/08/24
....
2,495
2,471
L2205399.UP.FTS.B,
11.81%,
12/08/24
...
830
822
L2201373.UP.FTS.B,
12.48%,
12/08/24
...
2,500
2,476
L2201983.UP.FTS.B,
12.68%,
12/08/24
...
6,670
6,607
L2206888.UP.FTS.B,
12.72%,
12/08/24
...
6,670
6,608
L2202614.UP.FTS.B,
12.88%,
12/08/24
...
6,673
6,611
L2200458.UP.FTS.B,
12.89%,
12/08/24
...
5,193
5,141
L2200431.UP.FTS.B,
13.28%,
12/08/24
...
4,592
4,549
L2205143.UP.FTS.B,
13.35%,
12/08/24
...
2,505
2,482
L2202863.UP.FTS.B,
13.37%,
12/08/24
...
4,999
4,952
L2204453.UP.FTS.B,
13.74%,
12/08/24
...
2,508
2,484
L2204038.UP.FTS.B,
14.23%,
12/08/24
...
8,340
8,262
FW2200839.UP.FTS.B,
14.26%,
12/08/24
.
5,879
5,824
L2201794.UP.FTS.B,
14.37%,
12/08/24
...
7,117
7,023
L2204310.UP.FTS.B,
14.38%,
12/08/24
...
837
830
L2203131.UP.FTS.B,
15.07%,
12/08/24
...
3,246
3,194
FW2198905.UP.FTS.B,
15.38%,
12/08/24
.
4,197
4,142
L2203403.UP.FTS.B,
15.5%,
12/08/24
....
13,696
1,006
L2192030.UP.FTS.B,
15.79%,
12/08/24
...
6,385
6,302
L2205721.UP.FTS.B,
15.97%,
12/08/24
...
5,325
1,451
L2202823.UP.FTS.B,
16.25%,
12/08/24
...
1,916
1,886
L2199002.UP.FTS.B,
16.29%,
12/08/24
...
2,019
1,992
L2201862.UP.FTS.B,
17%,
12/08/24
.....
4,213
4,158
L2204481.UP.FTS.B,
17.12%,
12/08/24
...
6,406
6,322
L2201197.UP.FTS.B,
17.52%,
12/08/24
...
5,072
727
L2200703.UP.FTS.B,
17.76%,
12/08/24
...
646
634
L2202850.UP.FTS.B,
17.99%,
12/08/24
...
1,610
1,587
L2200495.UP.FTS.B,
18.21%,
12/08/24
...
5,749
417
FW2202930.UP.FTS.B,
18.22%,
12/08/24
.
2,113
2,085
L2202296.UP.FTS.B,
18.33%,
12/08/24
...
1,618
1,595
FW2201612.UP.FTS.B,
18.99%,
12/08/24
.
1,693
1,671
L2206681.UP.FTS.B,
19.32%,
12/08/24
...
3,247
3,202
L2204182.UP.FTS.B,
19.36%,
12/08/24
...
7,627
7,528
L2204390.UP.FTS.B,
19.52%,
12/08/24
...
6,782
6,694
L2203811.UP.FTS.B,
19.85%,
12/08/24
...
2,557
2,522
L2201390.UP.FTS.B,
19.92%,
12/08/24
...
10,184
10,053
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
182
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
L2201524.UP.FTS.B,
19.94%,
12/08/24
...
$
5,082
$
4,995
FW2206245.UP.FTS.B,
20.03%,
12/08/24
.
1,317
764
L2203066.UP.FTS.B,
20.07%,
12/08/24
...
14,684
14,495
FW2201021.UP.FTS.B,
20.28%,
12/08/24
.
770
758
FW2201750.UP.FTS.B,
20.37%,
12/08/24
.
1,699
1,677
L2201072.UP.FTS.B,
20.37%,
12/08/24
...
2,973
2,935
L2202128.UP.FTS.B,
20.41%,
12/08/24
...
3,228
3,186
FW2205926.UP.FTS.B,
21.09%,
12/08/24
.
2,145
1,238
FW2203151.UP.FTS.B,
21.13%,
12/08/24
.
3,574
3,512
L2206755.UP.FTS.B,
21.25%,
12/08/24
...
1,447
1,428
L2192296.UP.FTS.B,
21.33%,
12/08/24
...
3,495
2,095
L2202392.UP.FTS.B,
21.41%,
12/08/24
...
3,832
3,766
L2206735.UP.FTS.B,
21.46%,
12/08/24
...
4,258
4,203
L2180897.UP.FTS.B,
21.81%,
12/08/24
...
6,822
6,705
FW2201886.UP.FTS.B,
21.86%,
12/08/24
.
1,593
1,569
L2203505.UP.FTS.B,
22.57%,
12/08/24
...
14,015
8,400
FW2206827.UP.FTS.B,
22.71%,
12/08/24
.
4,270
4,197
L2202066.UP.FTS.B,
22.88%,
12/08/24
...
1,538
1,511
L2202398.UP.FTS.B,
23.19%,
12/08/24
...
5,984
5,882
FW2206155.UP.FTS.B,
23.2%,
12/08/24
..
1,609
1,579
L2200082.UP.FTS.B,
23.29%,
12/08/24
...
2,724
2,677
L2201277.UP.FTS.B,
23.37%,
12/08/24
...
2,839
2,789
L2201431.UP.FTS.B,
23.43%,
12/08/24
...
5,558
5,448
FW2202263.UP.FTS.B,
23.94%,
12/08/24
.
1,285
1,263
FW2206719.UP.FTS.B,
24.2%,
12/08/24
..
10,245
10,068
FW2203344.UP.FTS.B,
24.4%,
12/08/24
..
2,822
34
FW2202564.UP.FTS.B,
24.94%,
12/08/24
.
1,963
142
L2202471.UP.FTS.B,
24.95%,
12/08/24
...
10,660
10,477
FW2200630.UP.FTS.B,
25.74%,
12/08/24
.
7,222
7,099
FW2176932.UP.FTS.B,
25.88%,
12/08/24
.
2,174
2,137
FW2202124.UP.FTS.B,
26.35%,
12/08/24
.
3,877
3,809
FW2203707.UP.FTS.B,
26.53%,
12/08/24
.
3,397
3,338
FW2201104.UP.FTS.B,
26.62%,
12/08/24
.
862
847
FW2202611.UP.FTS.B,
27.15%,
12/08/24
.
6,472
465
FW2201792.UP.FTS.B,
27.21%,
12/08/24
.
3,019
2,967
FW2201445.UP.FTS.B,
27.41%,
12/08/24
.
4,570
1,318
FW2204267.UP.FTS.B,
28.46%,
12/08/24
.
1,395
100
FW2201560.UP.FTS.B,
28.51%,
12/08/24
.
1,816
1,786
FW2204026.UP.FTS.B,
28.52%,
12/08/24
.
6,919
6,802
FW2205860.UP.FTS.B,
28.57%,
12/08/24
.
1,902
551
FW2202524.UP.FTS.B,
28.64%,
12/08/24
.
1,556
1,530
FW2201579.UP.FTS.B,
28.82%,
12/08/24
.
2,683
2,638
FW2201851.UP.FTS.B,
28.82%,
12/08/24
.
1,558
1,532
FW2205439.UP.FTS.B,
29.01%,
12/08/24
.
2,771
2,725
L2382768.UP.FTS.B,
5.08%,
1/11/25
.....
1,290
1,279
L2413126.UP.FTS.B,
5.21%,
1/11/25
.....
3,375
3,349
L2411924.UP.FTS.B,
5.26%,
1/11/25
.....
5,063
5,023
L2411777.UP.FTS.B,
5.56%,
1/11/25
.....
7,600
7,541
L2411090.UP.FTS.B,
5.74%,
1/11/25
.....
5,914
5,867
L2412107.UP.FTS.B,
6.11%,
1/11/25
.....
2,537
2,517
L2413813.UP.FTS.B,
6.18%,
1/11/25
.....
2,537
2,517
L2413053.UP.FTS.B,
6.21%,
1/11/25
.....
5,074
5,035
L2408176.UP.FTS.B,
6.75%,
1/11/25
.....
827
820
L2412917.UP.FTS.B,
6.87%,
1/11/25
.....
2,541
2,521
L2410038.UP.FTS.B,
6.92%,
1/11/25
.....
2,965
2,942
L2411645.UP.FTS.B,
6.95%,
1/11/25
.....
3,821
3,792
L2412167.UP.FTS.B,
7.12%,
1/11/25
.....
3,390
3,363
FW2409367.UP.FTS.B,
7.16%,
1/11/25
...
1,798
453
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
L2407024.UP.FTS.B,
7.25%,
1/11/25
.....
$
3,632
$
3,604
L2410776.UP.FTS.B,
7.38%,
1/11/25
.....
5,088
5,044
FW2411155.UP.FTS.B,
7.59%,
1/11/25
...
3,219
3,194
L2413637.UP.FTS.B,
7.76%,
1/11/25
.....
2,495
2,473
L2402281.UP.FTS.B,
7.89%,
1/11/25
.....
16,934
16,802
FW2408203.UP.FTS.B,
8.04%,
1/11/25
...
2,549
2,527
L2407274.UP.FTS.B,
8.11%,
1/11/25
.....
1,836
1,820
FW2413171.UP.FTS.B,
8.15%,
1/11/25
...
2,548
2,526
L2413751.UP.FTS.B,
8.33%,
1/11/25
.....
2,120
2,102
L2402983.UP.FTS.B,
8.56%,
1/11/25
.....
2,296
2,276
L2412008.UP.FTS.B,
8.58%,
1/11/25
.....
8,503
8,430
FW2408763.UP.FTS.B,
8.69%,
1/11/25
...
5,453
5,406
FW2413095.UP.FTS.B,
8.74%,
1/11/25
...
3,140
3,105
L2407827.UP.FTS.B,
8.84%,
1/11/25
.....
3,059
3,033
L2410161.UP.FTS.B,
9.06%,
1/11/25
.....
1,702
1,688
L2407027.UP.FTS.B,
9.18%,
1/11/25
.....
3,831
3,799
L2411609.UP.FTS.B,
9.19%,
1/11/25
.....
1,703
1,688
L2408028.UP.FTS.B,
9.2%,
1/11/25
......
2,971
2,945
L2405780.UP.FTS.B,
9.56%,
1/11/25
.....
1,875
1,859
L2413288.UP.FTS.B,
9.72%,
1/11/25
.....
951
59
L2412291.UP.FTS.B,
10.18%,
1/11/25
....
1,707
1,692
FW2412135.UP.FTS.B,
10.19%,
1/11/25
..
1,704
1,690
L2413510.UP.FTS.B,
10.29%,
1/11/25
....
14,083
13,962
L2411555.UP.FTS.B,
10.32%,
1/11/25
....
3,841
3,808
L2408096.UP.FTS.B,
10.52%,
1/11/25
....
3,539
3,507
FW2412813.UP.FTS.B,
10.67%,
1/11/25
..
854
847
L2411669.UP.FTS.B,
10.84%,
1/11/25
....
1,709
1,693
FW2410432.UP.FTS.B,
10.89%,
1/11/25
..
4,273
4,234
L2411242.UP.FTS.B,
10.89%,
1/11/25
....
2,649
2,627
L2413320.UP.FTS.B,
11.28%,
1/11/25
....
17,107
16,961
L2405109.UP.FTS.B,
11.47%,
1/11/25
....
1,284
1,272
FW2412630.UP.FTS.B,
12.03%,
1/11/25
..
2,570
2,547
FW2409055.UP.FTS.B,
12.38%,
1/11/25
..
907
898
L2412366.UP.FTS.B,
12.6%,
1/11/25
.....
858
850
L2408103.UP.FTS.B,
12.61%,
1/11/25
....
2,145
2,125
FW2412082.UP.FTS.B,
12.62%,
1/11/25
..
4,532
4,488
FW2412930.UP.FTS.B,
12.99%,
1/11/25
..
4,141
4,103
L2410850.UP.FTS.B,
13.07%,
1/11/25
....
1,288
1,276
L2412558.UP.FTS.B,
13.17%,
1/11/25
....
1,288
1,277
L2410120.UP.FTS.B,
14.05%,
1/11/25
....
1,721
1,705
FW2412033.UP.FTS.B,
14.09%,
1/11/25
..
3,012
2,984
L2410413.UP.FTS.B,
14.16%,
1/11/25
....
12,910
12,741
L2412221.UP.FTS.B,
14.17%,
1/11/25
....
19,524
1,356
L2409499.UP.FTS.B,
14.28%,
1/11/25
....
6,026
5,971
L2397480.UP.FTS.B,
15.09%,
1/11/25
....
8,637
8,564
L2408428.UP.FTS.B,
15.76%,
1/11/25
....
8,642
8,524
L2410798.UP.FTS.B,
15.99%,
1/11/25
....
8,639
8,527
FW2413230.UP.FTS.B,
16.04%,
1/11/25
..
5,702
5,628
FW2413492.UP.FTS.B,
16.11%,
1/11/25
..
1,291
1,274
FW2411395.UP.FTS.B,
16.37%,
1/11/25
..
2,592
2,558
L2407096.UP.FTS.B,
16.55%,
1/11/25
....
20,326
20,060
L2409614.UP.FTS.B,
17.29%,
1/11/25
....
5,284
5,215
L2411442.UP.FTS.B,
17.42%,
1/11/25
....
16,463
16,248
L2409234.UP.FTS.B,
17.51%,
1/11/25
....
2,600
2,566
L2407062.UP.FTS.B,
17.52%,
1/11/25
....
1,473
1,454
L2411946.UP.FTS.B,
17.59%,
1/11/25
....
7,541
7,442
L2402752.UP.FTS.B,
18.22%,
1/11/25
....
36
35
L2405533.UP.FTS.B,
18.22%,
1/11/25
....
8,681
8,567
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
183
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
L2412453.UP.FTS.B,
19.73%,
1/11/25
....
$
27,747
$
27,350
L2412506.UP.FTS.B,
19.8%,
1/11/25
.....
8,184
8,077
L2407256.UP.FTS.B,
20.21%,
1/11/25
....
6,099
5,996
L2411253.UP.FTS.B,
20.46%,
1/11/25
....
1,743
1,721
FW2410096.UP.FTS.B,
20.55%,
1/11/25
..
868
856
L2413715.UP.FTS.B,
20.58%,
1/11/25
....
872
861
FW2407665.UP.FTS.B,
20.61%,
1/11/25
..
21,800
21,433
L2412369.UP.FTS.B,
20.63%,
1/11/25
....
3,100
224
FW2410127.UP.FTS.B,
20.85%,
1/11/25
..
879
864
FW2388641.UP.FTS.B,
21.09%,
1/11/25
..
873
861
FW2411559.UP.FTS.B,
21.14%,
1/11/25
..
2,182
2,154
L2401534.UP.FTS.B,
21.34%,
1/11/25
....
10,459
10,321
L2413329.UP.FTS.B,
21.38%,
1/11/25
....
13,431
8,059
FW2410280.UP.FTS.B,
22.2%,
1/11/25
...
1,574
1,548
L2410058.UP.FTS.B,
22.27%,
1/11/25
....
9,448
9,324
L2411551.UP.FTS.B,
22.31%,
1/11/25
....
3,012
447
L2413428.UP.FTS.B,
23.28%,
1/11/25
....
1,139
1,120
L2407636.UP.FTS.B,
23.33%,
1/11/25
....
1,052
1,034
FW2411472.UP.FTS.B,
24.01%,
1/11/25
..
7,903
7,770
FW2408676.UP.FTS.B,
24.16%,
1/11/25
..
3,894
3,829
FW2411482.UP.FTS.B,
24.41%,
1/11/25
..
6,625
6,511
FW2410949.UP.FTS.B,
25.16%,
1/11/25
..
1,319
1,297
FW2408865.UP.FTS.B,
25.5%,
1/11/25
...
2,106
2,061
L2410557.UP.FTS.B,
26.28%,
1/11/25
....
2,203
2,166
FW2409120.UP.FTS.B,
26.65%,
1/11/25
..
4,410
4,335
FW2412539.UP.FTS.B,
27.71%,
1/11/25
..
4,418
4,343
FW2411088.UP.FTS.B,
28.45%,
1/11/25
..
1,770
1,740
FW2412560.UP.FTS.B,
28.48%,
1/11/25
..
4,778
4,698
FW2412871.UP.FTS.B,
28.66%,
1/11/25
..
1,770
1,740
FW2410693.UP.FTS.B,
28.78%,
1/11/25
..
8,080
7,940
FW2413084.UP.FTS.B,
29.03%,
1/11/25
..
1,970
1,938
FW2412449.UP.FTS.B,
29.08%,
1/11/25
..
25,651
25,189
FW2408892.UP.FTS.B,
33.73%,
1/11/25
..
4,196
4,125
L2415563.UP.FTS.B,
5.17%,
1/12/25
....
6,328
6,281
L2415408.UP.FTS.B,
5.38%,
1/12/25
....
8,135
8,073
L2398487.UP.FTS.B,
5.43%,
1/12/25
....
29,524
29,305
L2418369.UP.FTS.B,
5.69%,
1/12/25
....
1,267
1,258
L2414426.UP.FTS.B,
5.8%,
1/12/25
.....
1,267
1,258
FW2419630.UP.FTS.B,
6.3%,
1/12/25
....
872
466
FW2417903.UP.FTS.B,
6.38%,
1/12/25
...
2,115
2,100
L2420304.UP.FTS.B,
6.48%,
1/12/25
....
2,121
2,107
L2419347.UP.FTS.B,
6.78%,
1/12/25
....
7,199
7,146
L2416428.UP.FTS.B,
6.81%,
1/12/25
....
1,694
1,681
FW2414692.UP.FTS.B,
6.84%,
1/12/25
...
1,694
1,682
L2418759.UP.FTS.B,
6.94%,
1/12/25
....
7,540
7,484
L2419328.UP.FTS.B,
7.52%,
1/12/25
....
5,938
5,895
L2415914.UP.FTS.B,
7.64%,
1/12/25
....
2,970
2,946
L2419517.UP.FTS.B,
7.68%,
1/12/25
....
5,105
5,065
FW2418816.UP.FTS.B,
7.73%,
1/12/25
...
5,092
5,052
L2419589.UP.FTS.B,
7.74%,
1/12/25
....
12,730
12,628
L2416890.UP.FTS.B,
7.78%,
1/12/25
....
5,347
5,304
FW2417431.UP.FTS.B,
7.8%,
1/12/25
....
9,177
2,313
L2419183.UP.FTS.B,
8%,
1/12/25
.......
2,717
2,698
FW2416518.UP.FTS.B,
8.11%,
1/12/25
...
4,247
4,213
L2417943.UP.FTS.B,
8.11%,
1/12/25
.....
4,247
4,213
L2417004.UP.FTS.B,
8.72%,
1/12/25
....
4,253
4,222
L2414073.UP.FTS.B,
8.79%,
1/12/25
....
1,865
1,851
L2415019.UP.FTS.B,
8.85%,
1/12/25
....
1,702
1,688
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
L2415625.UP.FTS.B,
8.97%,
1/12/25
....
$
2,717
$
2,695
L2416430.UP.FTS.B,
9.01%,
1/12/25
....
4,256
4,222
L2414074.UP.FTS.B,
9.04%,
1/12/25
....
12,767
12,667
FW2416507.UP.FTS.B,
9.11%,
1/12/25
...
4,086
4,054
L2417145.UP.FTS.B,
9.34%,
1/12/25
....
937
930
FW2418164.UP.FTS.B,
9.41%,
1/12/25
...
2,130
2,113
L2417687.UP.FTS.B,
9.43%,
1/12/25
....
1,166
168
L2415812.UP.FTS.B,
9.44%,
1/12/25
....
4,589
4,552
L2417726.UP.FTS.B,
9.57%,
1/12/25
....
4,262
4,229
L2414740.UP.FTS.B,
9.6%,
1/12/25
.....
1,278
1,268
FW2413836.UP.FTS.B,
10.39%,
1/12/25
..
2,127
2,110
L2396686.UP.FTS.B,
10.42%,
1/12/25
....
4,269
4,236
FW2419415.UP.FTS.B,
10.5%,
1/12/25
...
1,708
1,695
FW2416931.UP.FTS.B,
10.8%,
1/12/25
...
9,399
9,322
L2414847.UP.FTS.B,
11.02%,
1/12/25
....
9,404
9,326
L2414221.UP.FTS.B,
11.17%,
1/12/25
....
4,276
4,241
L2417964.UP.FTS.B,
11.38%,
1/12/25
....
4,643
651
FW2416547.UP.FTS.B,
11.39%,
1/12/25
..
2,481
2,461
L2420369.UP.FTS.B,
11.76%,
1/12/25
....
15,963
15,812
L2415059.UP.FTS.B,
12.06%,
1/12/25
....
1,322
738
L2413961.UP.FTS.B,
13.69%,
1/12/25
....
3,300
3,271
L2414544.UP.FTS.B,
14.43%,
1/12/25
....
2,213
1,236
L2411232.UP.FTS.B,
15.21%,
1/12/25
....
25,014
24,816
L2419075.UP.FTS.B,
17.01%,
1/12/25
....
1,731
1,711
L2418199.UP.FTS.B,
17.24%,
1/12/25
....
538
528
L2417700.UP.FTS.B,
17.92%,
1/12/25
....
3,469
3,429
FW2417716.UP.FTS.B,
18.03%,
1/12/25
..
2,166
2,141
FW2417625.UP.FTS.B,
18.19%,
1/12/25
..
2,430
2,411
FW2416853.UP.FTS.B,
18.35%,
1/12/25
..
6,069
5,998
L2418715.UP.FTS.B,
19.25%,
1/12/25
....
4,348
4,298
L2419498.UP.FTS.B,
19.45%,
1/12/25
....
8,733
8,629
L2417349.UP.FTS.B,
20.05%,
1/12/25
....
1,729
1,708
FW2416638.UP.FTS.B,
22.19%,
1/12/25
..
8,746
8,615
L2417218.UP.FTS.B,
22.21%,
1/12/25
....
3,366
3,324
L2414519.UP.FTS.B,
22.88%,
1/12/25
....
2,890
2,847
L2418909.UP.FTS.B,
22.9%,
1/12/25
....
1,146
1,124
L2414032.UP.FTS.B,
23.21%,
1/12/25
....
2,432
2,404
L2352635.UP.FTS.B,
23.27%,
1/12/25
....
6,573
6,475
FW2414761.UP.FTS.B,
23.39%,
1/12/25
..
875
862
L2412538.UP.FTS.B,
23.48%,
1/12/25
....
3,516
3,463
FW2417500.UP.FTS.B,
23.65%,
1/12/25
..
1,674
1,647
FW2414957.UP.FTS.B,
23.71%,
1/12/25
..
10,469
10,348
FW2414041.UP.FTS.B,
23.78%,
1/12/25
..
3,509
3,457
FW2416686.UP.FTS.B,
24.84%,
1/12/25
..
2,122
2,091
FW2418415.UP.FTS.B,
26.15%,
1/12/25
..
13,217
13,022
FW2411570.UP.FTS.B,
26.6%,
1/12/25
...
2,469
2,433
FW2414169.UP.FTS.B,
26.75%,
1/12/25
..
5,167
1,501
FW2415083.UP.FTS.B,
27.47%,
1/12/25
..
5,539
1,621
FW2414437.UP.FTS.B,
27.76%,
1/12/25
..
2,651
2,612
FW2417137.UP.FTS.B,
28.46%,
1/12/25
..
8,752
8,619
FW2415206.UP.FTS.B,
28.53%,
1/12/25
..
9,053
5,444
FW2414944.UP.FTS.B,
29.31%,
1/12/25
..
2,305
2,271
FW2417255.UP.FTS.B,
33.33%,
1/12/25
..
2,600
392
FW2635737.UP.FTS.B,
5.82%,
2/15/25
...
3,051
3,032
L2636718.UP.FTS.B,
6.51%,
2/15/25
....
830
824
L2631679.UP.FTS.B,
6.61%,
2/15/25
....
4,357
4,327
L2632890.UP.FTS.B,
6.77%,
2/15/25
....
8,718
8,657
L2634175.UP.FTS.B,
6.95%,
2/15/25
....
7,857
7,803
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
184
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
L2634671.UP.FTS.B,
8.48%,
2/15/25
....
$
30,636
$
30,403
L2634533.UP.FTS.B,
8.5%,
2/15/25
.....
17,507
17,374
L2634613.UP.FTS.B,
8.55%,
2/15/25
....
6,126
6,080
FW2634820.UP.FTS.B,
9.15%,
2/15/25
...
6,047
6,001
L2633581.UP.FTS.B,
9.23%,
2/15/25
....
1,838
1,824
FW2634377.UP.FTS.B,
10%,
2/15/25
....
878
871
L2634177.UP.FTS.B,
15.21%,
2/15/25
....
1,949
1,926
L2636760.UP.FTS.B,
15.98%,
2/15/25
....
11,962
11,299
FW2634284.UP.FTS.B,
16.22%,
2/15/25
..
8,873
8,769
L2634751.UP.FTS.B,
16.31%,
2/15/25
....
1,686
1,673
L2631912.UP.FTS.B,
16.39%,
2/15/25
....
5,325
5,263
L2636882.UP.FTS.B,
16.54%,
2/15/25
....
4,883
4,826
L2632664.UP.FTS.B,
17.32%,
2/15/25
....
889
879
L2635618.UP.FTS.B,
17.92%,
2/15/25
....
3,114
3,078
L2633074.UP.FTS.B,
18.31%,
2/15/25
....
4,196
4,125
L2634161.UP.FTS.B,
18.39%,
2/15/25
....
3,740
3,696
L2631294.UP.FTS.B,
19.11%,
2/15/25
....
892
881
L2632627.UP.FTS.B,
20.79%,
2/15/25
....
8,940
8,807
L2634669.UP.FTS.B,
20.85%,
2/15/25
....
9,298
9,160
L2631763.UP.FTS.B,
20.93%,
2/15/25
....
7,773
7,681
FW2636107.UP.FTS.B,
21.14%,
2/15/25
..
8,942
8,789
L2635526.UP.FTS.B,
21.85%,
2/15/25
....
680
670
FW2631365.UP.FTS.B,
21.86%,
2/15/25
..
5,821
5,734
FW2637244.UP.FTS.B,
22.65%,
2/15/25
..
897
883
L2635358.UP.FTS.B,
24.79%,
2/15/25
....
6,674
6,288
FW2633708.UP.FTS.B,
25.99%,
2/15/25
..
5,857
5,770
FW2631136.UP.FTS.B,
27.13%,
2/15/25
..
1,695
1,667
FW2631651.UP.FTS.B,
27.52%,
2/15/25
..
5,871
5,783
FW2635191.UP.FTS.B,
29%,
2/15/25
....
3,586
1,051
FW2634333.UP.FTS.B,
29.01%,
2/15/25
..
34,394
33,880
FW2631826.UP.FTS.B,
31.23%,
2/15/25
..
4,836
4,760
L2639657.UP.FTS.B,
5.92%,
2/16/25
....
1,307
1,298
L2639334.UP.FTS.B,
6.42%,
2/16/25
....
6,867
6,814
FW2638680.UP.FTS.B,
7.01%,
2/16/25
...
1,920
1,908
L2639360.UP.FTS.B,
7.14%,
2/16/25
....
11,463
11,373
L2643179.UP.FTS.B,
7.28%,
2/16/25
....
4,263
4,235
L2637484.UP.FTS.B,
7.65%,
2/16/25
....
3,758
3,734
L2639542.UP.FTS.B,
8.21%,
2/16/25
....
2,165
2,149
L2638987.UP.FTS.B,
9.25%,
2/16/25
....
2,056
2,040
L2642308.UP.FTS.B,
10.18%,
2/16/25
....
8,780
8,721
FW2644636.UP.FTS.B,
10.31%,
2/16/25
..
876
870
L2640736.UP.FTS.B,
10.49%,
2/16/25
....
1,318
1,309
FW2639791.UP.FTS.B,
11.24%,
2/16/25
..
4,399
4,368
FW2644605.UP.FTS.B,
13.5%,
2/16/25
...
8,832
8,771
FW2640049.UP.FTS.B,
13.66%,
2/16/25
..
9,453
9,388
FW2641858.UP.FTS.B,
14.06%,
2/16/25
..
4,831
4,779
FW2640344.UP.FTS.B,
14.17%,
2/16/25
..
2,183
2,167
L2644835.UP.FTS.B,
14.27%,
2/16/25
....
11,497
11,419
L2639914.UP.FTS.B,
14.3%,
2/16/25
....
6,191
6,126
L2573704.UP.FTS.B,
14.5%,
2/16/25
....
3,539
3,502
FW2642814.UP.FTS.B,
15.64%,
2/16/25
..
4,888
4,837
L2644825.UP.FTS.B,
15.86%,
2/16/25
....
1,657
1,630
FW2642902.UP.FTS.B,
16.38%,
2/16/25
..
7,526
2,083
L2640305.UP.FTS.B,
16.68%,
2/16/25
....
5,773
5,714
FW2644294.UP.FTS.B,
16.92%,
2/16/25
..
2,931
2,901
FW2639338.UP.FTS.B,
17.66%,
2/16/25
..
8,903
8,812
FW2639899.UP.FTS.B,
18.71%,
2/16/25
..
9,134
8,633
L2641019.UP.FTS.B,
18.97%,
2/16/25
....
13,370
13,234
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
L2639930.UP.FTS.B,
19.1%,
2/16/25
....
$
1,961
$
1,941
L2644145.UP.FTS.B,
19.28%,
2/16/25
....
2,286
2,161
L2637891.UP.FTS.B,
19.29%,
2/16/25
....
6,941
6,864
FW2639706.UP.FTS.B,
19.94%,
2/16/25
..
5,713
5,639
L2641952.UP.FTS.B,
19.98%,
2/16/25
....
3,928
3,889
L2641810.UP.FTS.B,
22.34%,
2/16/25
....
1,695
1,675
FW2643292.UP.FTS.B,
23.05%,
2/16/25
..
4,396
4,339
L2639553.UP.FTS.B,
23.86%,
2/16/25
....
10,060
9,931
FW2639697.UP.FTS.B,
24.32%,
2/16/25
..
1,564
1,478
FW2638912.UP.FTS.B,
24.71%,
2/16/25
..
2,159
2,131
FW2643827.UP.FTS.B,
25.41%,
2/16/25
..
4,502
4,444
FW2643384.UP.FTS.B,
26.02%,
2/16/25
..
3,843
3,791
FW2639247.UP.FTS.B,
27.74%,
2/16/25
..
6,776
6,691
L2627901.UP.FTS.B,
28.31%,
2/16/25
....
12,749
12,589
L2644671.UP.FTS.B,
5.08%,
2/17/25
....
8,696
8,640
L2645028.UP.FTS.B,
11.5%,
2/17/25
.....
3,080
3,059
FW2645054.UP.FTS.B,
11.7%,
2/17/25
...
6,975
6,733
L2604120.UP.FTS.B,
17.7%,
2/17/25
....
8,895
8,807
FW2645759.UP.FTS.B,
24.75%,
2/17/25
..
8,994
8,883
FW2645634.UP.FTS.B,
29.15%,
2/17/25
..
2,022
307
L1869314.UP.FTS.B,
21.8%,
3/18/25
....
4,261
4,197
FW1872890.UP.FTS.B,
24.47%,
3/18/25
..
865
852
L2006292.UP.FTS.B,
11.48%,
4/09/25
....
2,173
2,156
L2006010.UP.FTS.B,
18.05%,
4/09/25
....
1,128
651
L2006605.UP.FTS.B,
21.13%,
4/09/25
....
9,250
1,319
L2009467.UP.FTS.B,
22.96%,
4/09/25
....
2,988
1,785
L2078933.UP.FTS.B,
22.16%,
4/19/25
....
10,161
10,043
L2197032.UP.FTS.B,
22.34%,
5/07/25
....
1,822
1,791
L2205597.UP.FTS.B,
19.53%,
5/08/25
....
1,864
1,072
L2204817.UP.FTS.B,
21.24%,
5/08/25
....
4,473
4,398
FW2408831.UP.FTS.B,
10.24%,
6/11/25
..
3,741
3,719
FW2631536.UP.FTS.B,
18.63%,
7/15/25
..
1,096
1,083
FW1873996.UP.FTS.B,
28.24%,
8/18/25
..
4,602
4,543
FW1872459.UP.FTS.B,
28.31%,
8/18/25
..
828
816
L1708948.UP.FTS.B,
7.47%,
9/14/26
....
7,721
7,671
L1709252.UP.FTS.B,
8.33%,
9/14/26
....
8,605
8,550
L1711804.UP.FTS.B,
9.08%,
9/14/26
.....
8,628
8,573
L1709773.UP.FTS.B,
9.1%,
9/14/26
.....
1,726
1,715
L1709466.UP.FTS.B,
9.12%,
9/14/26
....
9,487
9,426
L1711063.UP.FTS.B,
9.57%,
9/14/26
.....
12,100
12,023
L1711325.UP.FTS.B,
9.58%,
9/14/26
.....
14,694
14,600
L1710250.UP.FTS.B,
9.72%,
9/14/26
....
6,918
6,858
L1710722.UP.FTS.B,
9.73%,
9/14/26
....
17,296
17,186
L1709358.UP.FTS.B,
10.97%,
9/14/26
....
36,969
36,639
L1711260.UP.FTS.B,
11.26%,
9/14/26
....
1,741
1,726
L1709982.UP.FTS.B,
11.59%,
9/14/26
....
10,444
10,353
FW1711975.UP.FTS.B,
11.76%,
9/14/26
..
23,513
23,307
L1711112.UP.FTS.B,
12.03%,
9/14/26
....
17,456
17,301
FW1709227.UP.FTS.B,
12.04%,
9/14/26
..
1,499
1,483
L1711960.UP.FTS.B,
12.48%,
9/14/26
....
2,619
2,596
L1708544.UP.FTS.B,
12.57%,
9/14/26
....
3,482
3,451
L1709990.UP.FTS.B,
12.82%,
9/14/26
....
2,185
2,166
FW1709162.UP.FTS.B,
13.06%,
9/14/26
..
7,871
7,803
L1709442.UP.FTS.B,
13.19%,
9/14/26
....
43,748
43,366
L1712219.UP.FTS.B,
13.34%,
9/14/26
....
3,216
3,184
L1711120.UP.FTS.B,
13.48%,
9/14/26
....
5,605
5,556
L1711626.UP.FTS.B,
13.98%,
9/14/26
....
17,544
17,391
L1712525.UP.FTS.B,
14.32%,
9/14/26
....
3,441
3,319
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
185
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
L1705354.UP.FTS.B,
14.33%,
9/14/26
....
$
21,077
$
20,894
L1709686.UP.FTS.B,
14.5%,
9/14/26
....
17,574
17,421
L1712030.UP.FTS.B,
15.05%,
9/14/26
....
2,641
2,608
L1709833.UP.FTS.B,
15.27%,
9/14/26
....
10,570
10,439
FW1711888.UP.FTS.B,
15.29%,
9/14/26
..
8,809
8,700
L1711759.UP.FTS.B,
15.35%,
9/14/26
....
8,785
8,675
L1711137.UP.FTS.B,
15.58%,
9/14/26
....
2,719
730
FW1710596.UP.FTS.B,
15.85%,
9/14/26
..
4,412
4,358
L1710000.UP.FTS.B,
16.05%,
9/14/26
....
17,659
17,441
FW1711241.UP.FTS.B,
16.08%,
9/14/26
..
3,532
3,489
L1707201.UP.FTS.B,
16.24%,
9/14/26
....
13,252
13,089
FW1710711.UP.FTS.B,
16.48%,
9/14/26
..
2,210
2,183
L1708685.UP.FTS.B,
16.63%,
9/14/26
....
2,652
2,629
L1708577.UP.FTS.B,
16.66%,
9/14/26
....
6,181
6,095
L1711658.UP.FTS.B,
16.72%,
9/14/26
....
2,574
2,540
L1710867.UP.FTS.B,
16.91%,
9/14/26
....
3,541
3,497
FW1709135.UP.FTS.B,
16.99%,
9/14/26
..
4,428
4,373
L1709613.UP.FTS.B,
17.03%,
9/14/26
....
2,657
2,624
FW1710769.UP.FTS.B,
17.16%,
9/14/26
..
5,316
5,250
L1711610.UP.FTS.B,
17.32%,
9/14/26
....
22,159
21,826
L1708807.UP.FTS.B,
17.72%,
9/14/26
....
8,874
8,765
L1711190.UP.FTS.B,
17.79%,
9/14/26
....
5,770
5,683
L1710981.UP.FTS.B,
17.81%,
9/14/26
....
8,922
8,785
L1710421.UP.FTS.B,
18.12%,
9/14/26
....
13,744
13,519
L1710484.UP.FTS.B,
18.16%,
9/14/26
....
7,109
7,002
FW1712049.UP.FTS.B,
18.25%,
9/14/26
..
4,800
4,728
FW1709424.UP.FTS.B,
18.79%,
9/14/26
..
13,354
13,189
FW1709134.UP.FTS.B,
18.89%,
9/14/26
..
8,905
8,771
L1710731.UP.FTS.B,
18.91%,
9/14/26
....
2,672
2,631
L1712201.UP.FTS.B,
18.94%,
9/14/26
....
2,223
2,189
L1709877.UP.FTS.B,
19.26%,
9/14/26
....
4,458
4,391
FW1711268.UP.FTS.B,
19.32%,
9/14/26
..
6,689
6,588
L1711904.UP.FTS.B,
19.49%,
9/14/26
....
17,767
17,625
L1711008.UP.FTS.B,
19.81%,
9/14/26
....
8,929
8,860
L1711215.UP.FTS.B,
19.91%,
9/14/26
....
5,368
5,321
L1709643.UP.FTS.B,
20.04%,
9/14/26
....
3,574
3,520
FW1709115.UP.FTS.B,
20.14%,
9/14/26
..
4,453
4,385
L1708842.UP.FTS.B,
20.24%,
9/14/26
....
7,092
7,034
FW1711645.UP.FTS.B,
20.26%,
9/14/26
..
24,271
23,900
L1712297.UP.FTS.B,
20.36%,
9/14/26
....
8,943
8,808
FW1712011.UP.FTS.B,
20.57%,
9/14/26
..
4,922
4,847
L1708429.UP.FTS.B,
20.63%,
9/14/26
....
2,685
2,664
L1710126.UP.FTS.B,
20.84%,
9/14/26
....
6,267
6,218
L1708585.UP.FTS.B,
20.86%,
9/14/26
....
26,757
26,542
L1711983.UP.FTS.B,
20.92%,
9/14/26
....
4,633
1,302
FW1711817.UP.FTS.B,
20.95%,
9/14/26
..
4,300
4,266
L1711180.UP.FTS.B,
21%,
9/14/26
......
21,513
21,347
L1711790.UP.FTS.B,
21.29%,
9/14/26
....
1,226
1,212
FW1708681.UP.FTS.B,
21.58%,
9/14/26
..
864
848
FW1712143.UP.FTS.B,
21.68%,
9/14/26
..
4,488
4,453
FW1704691.UP.FTS.B,
21.96%,
9/14/26
..
8,920
8,782
L1709159.UP.FTS.B,
22.01%,
9/14/26
....
13,605
13,399
L1707499.UP.FTS.B,
22.03%,
9/14/26
....
8,950
8,878
L1710829.UP.FTS.B,
22.11%,
9/14/26
....
4,493
4,438
L1709427.UP.FTS.B,
22.21%,
9/14/26
....
3,596
3,568
L1711058.UP.FTS.B,
22.48%,
9/14/26
....
7,696
7,630
L1710706.UP.FTS.B,
22.62%,
9/14/26
....
2,774
2,751
L1711276.UP.FTS.B,
23.33%,
9/14/26
....
1,984
1,968
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
FW1708581.UP.FTS.B,
23.53%,
9/14/26
..
$
13,140
$
13,020
L1712099.UP.FTS.B,
23.67%,
9/14/26
....
1,985
1,970
L1704673.UP.FTS.B,
23.71%,
9/14/26
....
9,928
9,850
L1710184.UP.FTS.B,
24.03%,
9/14/26
....
1,616
1,591
L1709189.UP.FTS.B,
24.05%,
9/14/26
....
31,616
31,368
FW1709337.UP.FTS.B,
24.31%,
9/14/26
..
22,598
22,421
L1712413.UP.FTS.B,
24.71%,
9/14/26
....
1,176
1,162
L1709924.UP.FTS.B,
24.74%,
9/14/26
....
1,345
1,334
L1710379.UP.FTS.B,
24.83%,
9/14/26
....
1,177
1,167
FW1710506.UP.FTS.B,
24.97%,
9/14/26
..
5,109
5,060
L1710592.UP.FTS.B,
25.03%,
9/14/26
....
1,177
1,168
L1706788.UP.FTS.B,
25.12%,
9/14/26
....
1,631
1,618
FW1712236.UP.FTS.B,
25.24%,
9/14/26
..
7,249
7,192
L1710759.UP.FTS.B,
25.29%,
9/14/26
....
997
989
L1711889.UP.FTS.B,
25.29%,
9/14/26
....
3,057
887
L1712021.UP.FTS.B,
25.29%,
9/14/26
....
2,900
2,877
L1712197.UP.FTS.B,
25.34%,
9/14/26
....
366
360
L1710443.UP.FTS.B,
25.38%,
9/14/26
....
490
482
L1708413.UP.FTS.B,
25.44%,
9/14/26
....
1,190
1,180
L1709050.UP.FTS.B,
25.44%,
9/14/26
....
2,720
2,698
L1712014.UP.FTS.B,
25.46%,
9/14/26
....
1,541
1,529
FW1707014.UP.FTS.B,
25.47%,
9/14/26
..
12,538
11,873
L1710375.UP.FTS.B,
25.49%,
9/14/26
....
1,812
1,797
L1707815.UP.FTS.B,
25.5%,
9/14/26
....
6,418
6,365
L1682631.UP.FTS.B,
25.57%,
9/14/26
....
46,350
44,432
FW1712366.UP.FTS.B,
25.67%,
9/14/26
..
2,749
2,727
L1709036.UP.FTS.B,
25.69%,
9/14/26
....
6,169
6,120
L1709217.UP.FTS.B,
25.78%,
9/14/26
....
22,592
21,403
L1711582.UP.FTS.B,
25.87%,
9/14/26
....
23,899
23,683
L1712466.UP.FTS.B,
25.9%,
9/14/26
....
2,837
2,688
L1709668.UP.FTS.B,
25.91%,
9/14/26
....
1,361
1,341
L1708800.UP.FTS.B,
25.93%,
9/14/26
....
4,357
4,323
L1710004.UP.FTS.B,
26.05%,
9/14/26
....
9,172
9,096
L1711668.UP.FTS.B,
26.18%,
9/14/26
....
4,269
4,235
L1704675.UP.FTS.B,
26.55%,
9/14/26
....
6,110
12
L1708367.UP.FTS.B,
26.76%,
9/14/26
....
2,963
2,937
FW1711474.UP.FTS.B,
26.77%,
9/14/26
..
5,212
37
FW1711990.UP.FTS.B,
26.83%,
9/14/26
..
8,370
8,303
FW1711419.UP.FTS.B,
27.05%,
9/14/26
..
3,345
3,170
FW1711816.UP.FTS.B,
27.5%,
9/14/26
...
1,373
1,361
FW1712397.UP.FTS.B,
27.52%,
9/14/26
..
2,734
2,712
FW1711280.UP.FTS.B,
28.58%,
9/14/26
..
19,125
18,968
FW1712164.UP.FTS.B,
28.97%,
9/14/26
..
3,185
3,158
FW1712431.UP.FTS.B,
29.12%,
9/14/26
..
2,744
2,722
FW1711078.UP.FTS.B,
29.28%,
9/14/26
..
3,664
3,635
FW1701558.UP.FTS.B,
29.38%,
9/14/26
..
10,971
10,883
FW1708838.UP.FTS.B,
29.45%,
9/14/26
..
905
264
FW1711953.UP.FTS.B,
29.73%,
9/14/26
..
2,417
2,312
FW1711740.UP.FTS.B,
29.78%,
9/14/26
..
12,277
3,603
FW1709270.UP.FTS.B,
29.95%,
9/14/26
..
4,950
4,911
FW1711943.UP.FTS.B,
30.23%,
9/14/26
..
4,747
4,498
FW1708445.UP.FTS.B,
30.24%,
9/14/26
..
2,134
151
FW1711057.UP.FTS.B,
30.36%,
9/14/26
..
1,661
485
FW1709895.UP.FTS.B,
30.37%,
9/14/26
..
3,574
3,386
FW1709566.UP.FTS.B,
30.55%,
9/14/26
..
1,528
228
FW1708159.UP.FTS.B,
30.6%,
9/14/26
...
1,747
1,729
FW1710725.UP.FTS.B,
30.72%,
9/14/26
..
3,116
3,091
FW1712184.UP.FTS.B,
30.77%,
9/14/26
..
5,231
5,189
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
186
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
FW1712361.UP.FTS.B,
30.85%,
9/14/26
..
$
4,062
$
(31)
FW1708283.UP.FTS.B,
30.95%,
9/14/26
..
3,674
3,645
FW1710730.UP.FTS.B,
31.01%,
9/14/26
..
2,732
193
FW1709045.UP.FTS.B,
31.04%,
9/14/26
..
2,756
2,734
FW1711778.UP.FTS.B,
31.18%,
9/14/26
..
3,034
3,009
FW1709334.UP.FTS.B,
31.22%,
9/14/26
..
1,563
1,550
FW1709206.UP.FTS.B,
31.24%,
9/14/26
..
1,287
1,276
FW1709237.UP.FTS.B,
31.24%,
9/14/26
..
4,596
4,559
FW1687516.UP.FTS.B,
31.34%,
9/14/26
..
27,582
27,360
FW1712567.UP.FTS.B,
31.44%,
9/14/26
..
2,667
2,645
FW1711131.UP.FTS.B,
31.51%,
9/14/26
..
2,122
2,104
FW1708209.UP.FTS.B,
31.55%,
9/14/26
..
6,442
6,390
FW1709680.UP.FTS.B,
31.93%,
9/14/26
..
4,435
115
FW1708897.UP.FTS.B,
32.27%,
9/14/26
..
2,645
2,622
FW1709995.UP.FTS.B,
32.33%,
9/14/26
..
13,268
13,161
FW1705277.UP.FTS.B,
32.78%,
9/14/26
..
38,663
38,351
FW1707590.UP.FTS.B,
32.85%,
9/14/26
..
4,409
4,364
L1873953.UP.FTS.B,
6.89%,
10/18/26
....
43,483
43,225
FW1872946.UP.FTS.B,
7.02%,
10/18/26
..
5,663
5,630
FW1873265.UP.FTS.B,
7.52%,
10/18/26
..
2,618
2,603
L1873658.UP.FTS.B,
8.56%,
10/18/26
....
31,960
31,773
FW1873694.UP.FTS.B,
8.87%,
10/18/26
..
1,753
1,743
L1873576.UP.FTS.B,
10.5%,
10/18/26
....
9,437
8,880
FW1872040.UP.FTS.B,
10.7%,
10/18/26
..
190
188
L1871496.UP.FTS.B,
10.72%,
10/18/26
...
16,310
16,216
L1873797.UP.FTS.B,
10.87%,
10/18/26
...
4,399
4,363
L1874550.UP.FTS.B,
10.94%,
10/18/26
...
7,071
7,014
L1873178.UP.FTS.B,
11.12%,
10/18/26
...
6,973
6,917
L1873001.UP.FTS.B,
11.14%,
10/18/26
...
6,621
6,567
L1872155.UP.FTS.B,
11.36%,
10/18/26
...
1,748
1,732
L1873842.UP.FTS.B,
11.7%,
10/18/26
....
15,386
15,262
L1873090.UP.FTS.B,
11.9%,
10/18/26
....
1,327
1,317
L1873798.UP.FTS.B,
12.44%,
10/18/26
...
3,545
3,517
L1873392.UP.FTS.B,
12.58%,
10/18/26
...
11,349
11,258
L1874099.UP.FTS.B,
12.59%,
10/18/26
...
15,978
15,848
L1873896.UP.FTS.B,
12.61%,
10/18/26
...
4,877
4,838
L1873977.UP.FTS.B,
12.66%,
10/18/26
...
11,248
11,158
L1872876.UP.FTS.B,
13.07%,
10/18/26
...
2,220
2,202
L1874284.UP.FTS.B,
13.39%,
10/18/26
...
7,110
7,053
L1873391.UP.FTS.B,
13.44%,
10/18/26
...
8,889
8,818
L1873434.UP.FTS.B,
13.54%,
10/18/26
...
2,667
2,645
FW1873975.UP.FTS.B,
13.55%,
10/18/26
.
5,779
5,733
L1862693.UP.FTS.B,
13.59%,
10/18/26
...
7,128
7,070
FW1874302.UP.FTS.B,
13.81%,
10/18/26
.
44,305
43,946
L1873174.UP.FTS.B,
13.86%,
10/18/26
...
15,306
15,173
L1874369.UP.FTS.B,
14.32%,
10/18/26
...
7,139
7,056
L1874287.UP.FTS.B,
14.37%,
10/18/26
...
14,260
14,147
FW1874328.UP.FTS.B,
14.8%,
10/18/26
..
8,924
8,822
L1860167.UP.FTS.B,
14.86%,
10/18/26
...
1,517
1,500
L1874015.UP.FTS.B,
15.07%,
10/18/26
...
14,111
13,951
L1873885.UP.FTS.B,
15.48%,
10/18/26
...
16,988
16,853
L1874280.UP.FTS.B,
15.62%,
10/18/26
...
27,361
25,750
L1873194.UP.FTS.B,
15.66%,
10/18/26
...
2,345
2,207
L1873835.UP.FTS.B,
15.93%,
10/18/26
...
8,952
8,850
L1873166.UP.FTS.B,
16.01%,
10/18/26
...
17,909
17,705
L1872550.UP.FTS.B,
16.04%,
10/18/26
...
4,478
4,427
L1872814.UP.FTS.B,
16.38%,
10/18/26
...
13,376
13,221
L1874290.UP.FTS.B,
16.39%,
10/18/26
...
3,021
2,995
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
L1873320.UP.FTS.B,
16.64%,
10/18/26
...
$
1,794
$
1,774
L1873808.UP.FTS.B,
16.88%,
10/18/26
...
4,937
4,868
L1874262.UP.FTS.B,
17.04%,
10/18/26
...
5,865
5,791
L1873419.UP.FTS.B,
17.21%,
10/18/26
...
4,492
4,441
L1873707.UP.FTS.B,
17.21%,
10/18/26
...
10,783
10,661
L1874383.UP.FTS.B,
17.27%,
10/18/26
...
8,266
8,152
L1874238.UP.FTS.B,
17.32%,
10/18/26
...
4,493
4,431
L1873745.UP.FTS.B,
17.46%,
10/18/26
...
8,991
8,866
FW1869707.UP.FTS.B,
17.52%,
10/18/26
.
13,487
13,300
FW1874259.UP.FTS.B,
17.55%,
10/18/26
.
29,405
29,072
FW1873390.UP.FTS.B,
17.6%,
10/18/26
..
10,792
10,642
L1873345.UP.FTS.B,
17.63%,
10/18/26
...
5,417
5,342
FW1874335.UP.FTS.B,
17.64%,
10/18/26
.
36,146
35,856
L1874163.UP.FTS.B,
17.64%,
10/18/26
...
6,285
6,198
FW1874438.UP.FTS.B,
18.01%,
10/18/26
.
6,295
6,177
L1868602.UP.FTS.B,
18.18%,
10/18/26
...
3,153
3,109
L1873867.UP.FTS.B,
18.28%,
10/18/26
...
15,154
4,239
L1872889.UP.FTS.B,
18.38%,
10/18/26
...
18,024
17,774
FW1873109.UP.FTS.B,
18.49%,
10/18/26
.
8,564
8,445
L1872957.UP.FTS.B,
18.56%,
10/18/26
...
11,624
11,459
L1874018.UP.FTS.B,
18.78%,
10/18/26
...
4,900
4,830
L1874471.UP.FTS.B,
18.86%,
10/18/26
...
1,293
1,273
L1872626.UP.FTS.B,
19.06%,
10/18/26
...
6,500
6,410
L1873648.UP.FTS.B,
19.32%,
10/18/26
...
4,066
4,010
L1873350.UP.FTS.B,
19.42%,
10/18/26
...
10,557
10,403
FW1874119.UP.FTS.B,
19.46%,
10/18/26
.
13,557
13,369
L1873155.UP.FTS.B,
19.56%,
10/18/26
...
2,985
2,943
L1874021.UP.FTS.B,
19.56%,
10/18/26
...
18,080
17,829
L1873356.UP.FTS.B,
19.63%,
10/18/26
...
1,537
1,527
L1873176.UP.FTS.B,
19.77%,
10/18/26
...
13,568
13,476
FW1873722.UP.FTS.B,
19.81%,
10/18/26
.
6,332
6,244
L1872983.UP.FTS.B,
19.88%,
10/18/26
...
5,501
5,175
FW1873856.UP.FTS.B,
20.15%,
10/18/26
.
5,433
5,357
L1874118.UP.FTS.B,
20.23%,
10/18/26
...
30,309
28,735
L1873825.UP.FTS.B,
20.43%,
10/18/26
...
45,302
44,995
L1873221.UP.FTS.B,
20.79%,
10/18/26
...
1,814
1,789
L1873225.UP.FTS.B,
21.05%,
10/18/26
...
6,370
6,321
L1872967.UP.FTS.B,
21.07%,
10/18/26
...
5,864
5,822
L1866820.UP.FTS.B,
21.37%,
10/18/26
...
22,705
22,551
L1874536.UP.FTS.B,
21.47%,
10/18/26
...
4,906
4,850
L1870017.UP.FTS.B,
21.59%,
10/18/26
...
5,616
5,328
FW1874313.UP.FTS.B,
21.61%,
10/18/26
.
3,401
246
L1873820.UP.FTS.B,
21.93%,
10/18/26
...
3,092
3,071
L1872738.UP.FTS.B,
21.97%,
10/18/26
...
1,365
1,355
L1872849.UP.FTS.B,
21.97%,
10/18/26
...
2,168
2,135
L1873278.UP.FTS.B,
21.98%,
10/18/26
...
5,366
5,330
FW1873100.UP.FTS.B,
22%,
10/18/26
...
1,348
97
L1873489.UP.FTS.B,
22.12%,
10/18/26
...
13,649
13,556
L1872778.UP.FTS.B,
22.26%,
10/18/26
...
3,541
3,512
L1872381.UP.FTS.B,
22.4%,
10/18/26
....
2,276
2,261
L1872881.UP.FTS.B,
22.46%,
10/18/26
...
35,456
35,172
L1872904.UP.FTS.B,
22.48%,
10/18/26
...
4,553
4,522
L1873504.UP.FTS.B,
22.55%,
10/18/26
...
1,218
1,207
L1874352.UP.FTS.B,
22.6%,
10/18/26
....
29,788
29,585
L1874034.UP.FTS.B,
22.67%,
10/18/26
...
2,004
1,991
L1873496.UP.FTS.B,
22.72%,
10/18/26
...
14,856
14,755
L1874070.UP.FTS.B,
22.83%,
10/18/26
...
5,715
135
FW1873464.UP.FTS.B,
22.91%,
10/18/26
.
2,735
2,716
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
187
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
L1873741.UP.FTS.B,
22.96%,
10/18/26
...
$
1,541
$
1,530
L1873138.UP.FTS.B,
23.11%,
10/18/26
...
4,763
108
FW1873716.UP.FTS.B,
23.2%,
10/18/26
..
5,675
5,632
L1873047.UP.FTS.B,
23.35%,
10/18/26
...
4,793
1,408
L1874467.UP.FTS.B,
23.73%,
10/18/26
...
15,985
15,876
L1873651.UP.FTS.B,
23.74%,
10/18/26
...
8,122
8,066
L1873307.UP.FTS.B,
23.79%,
10/18/26
...
1,370
1,361
L1873349.UP.FTS.B,
23.8%,
10/18/26
....
1,764
1,749
L1872931.UP.FTS.B,
23.85%,
10/18/26
...
4,569
4,537
L1873067.UP.FTS.B,
23.95%,
10/18/26
...
9,611
2,800
L1873492.UP.FTS.B,
23.95%,
10/18/26
...
15,873
15,756
L1874063.UP.FTS.B,
24.01%,
10/18/26
...
6,398
6,354
L1873180.UP.FTS.B,
24.02%,
10/18/26
...
914
908
L1872601.UP.FTS.B,
24.04%,
10/18/26
...
4,571
4,540
L1838915.UP.FTS.B,
24.09%,
10/18/26
...
22,855
22,699
L1873408.UP.FTS.B,
24.34%,
10/18/26
...
2,744
2,726
L1874373.UP.FTS.B,
24.41%,
10/18/26
...
1,320
386
FW1873441.UP.FTS.B,
24.5%,
10/18/26
..
10,087
10,010
L1873035.UP.FTS.B,
24.5%,
10/18/26
....
5,950
427
L1872511.UP.FTS.B,
24.58%,
10/18/26
...
6,910
2,020
L1873660.UP.FTS.B,
24.58%,
10/18/26
...
9,527
1,450
L1873696.UP.FTS.B,
24.62%,
10/18/26
...
4,120
4,092
L1870381.UP.FTS.B,
24.72%,
10/18/26
...
6,368
6,323
L1873373.UP.FTS.B,
24.83%,
10/18/26
...
4,582
4,546
L1868887.UP.FTS.B,
24.97%,
10/18/26
...
13,560
13,456
L1872882.UP.FTS.B,
24.99%,
10/18/26
...
2,290
2,275
L1873659.UP.FTS.B,
25.01%,
10/18/26
...
1,283
375
L1872784.UP.FTS.B,
25.04%,
10/18/26
...
5,956
5,915
L1874475.UP.FTS.B,
25.04%,
10/18/26
...
2,107
2,093
L1873877.UP.FTS.B,
25.05%,
10/18/26
...
4,126
4,095
L1874065.UP.FTS.B,
25.09%,
10/18/26
...
8,888
8,828
L1872998.UP.FTS.B,
25.1%,
10/18/26
....
917
904
FW1874269.UP.FTS.B,
25.11%,
10/18/26
.
4,582
4,550
L1873308.UP.FTS.B,
25.11%,
10/18/26
...
1,439
1,416
L1872896.UP.FTS.B,
25.12%,
10/18/26
...
14,005
13,909
L1873304.UP.FTS.B,
25.15%,
10/18/26
...
1,559
1,547
L1873657.UP.FTS.B,
25.16%,
10/18/26
...
7,495
7,112
FW1873516.UP.FTS.B,
25.23%,
10/18/26
.
13,811
13,708
L1872941.UP.FTS.B,
25.23%,
10/18/26
...
1,467
1,457
FW1872050.UP.FTS.B,
25.29%,
10/18/26
.
3,664
3,639
FW1873077.UP.FTS.B,
25.29%,
10/18/26
.
2,750
2,731
L1870436.UP.FTS.B,
25.29%,
10/18/26
...
2,567
2,549
L1872920.UP.FTS.B,
25.29%,
10/18/26
...
2,838
2,818
L1874211.UP.FTS.B,
25.29%,
10/18/26
...
917
911
L1873318.UP.FTS.B,
25.3%,
10/18/26
....
1,721
122
L1873438.UP.FTS.B,
25.33%,
10/18/26
...
1,185
1,177
L1873627.UP.FTS.B,
25.33%,
10/18/26
...
917
911
L1805232.UP.FTS.B,
25.36%,
10/18/26
...
5,043
5,009
L1872764.UP.FTS.B,
25.4%,
10/18/26
....
1,376
1,366
L1869327.UP.FTS.B,
25.42%,
10/18/26
...
2,782
2,640
L1872094.UP.FTS.B,
25.42%,
10/18/26
...
3,668
3,643
L1873079.UP.FTS.B,
25.43%,
10/18/26
...
1,307
1,296
L1873235.UP.FTS.B,
25.45%,
10/18/26
...
6,037
5,994
L1874416.UP.FTS.B,
25.46%,
10/18/26
...
27,188
26,987
L1873049.UP.FTS.B,
25.47%,
10/18/26
...
4,494
4,463
L1874151.UP.FTS.B,
25.48%,
10/18/26
...
1,009
1,002
L1873818.UP.FTS.B,
25.5%,
10/18/26
....
1,723
1,667
L1874395.UP.FTS.B,
25.5%,
10/18/26
....
7,524
2,215
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
L1873121.UP.FTS.B,
25.53%,
10/18/26
...
$
7,645
$
108
FW1874455.UP.FTS.B,
25.58%,
10/18/26
.
13,763
13,669
L1873873.UP.FTS.B,
25.66%,
10/18/26
...
5,492
834
L1873528.UP.FTS.B,
25.71%,
10/18/26
...
6,791
6,744
L1874370.UP.FTS.B,
25.71%,
10/18/26
...
4,928
4,893
L1873151.UP.FTS.B,
25.86%,
10/18/26
...
2,185
2,169
L1873025.UP.FTS.B,
25.87%,
10/18/26
...
1,924
35
L1874250.UP.FTS.B,
25.87%,
10/18/26
...
9,887
9,809
L1874041.UP.FTS.B,
26.01%,
10/18/26
...
6,883
6,829
FW1874338.UP.FTS.B,
26.12%,
10/18/26
.
9,185
9,122
L1870887.UP.FTS.B,
26.18%,
10/18/26
...
1,562
1,551
L1872603.UP.FTS.B,
26.26%,
10/18/26
...
5,697
5,658
L1874047.UP.FTS.B,
26.3%,
10/18/26
....
919
913
L1873838.UP.FTS.B,
26.46%,
10/18/26
...
3,857
3,830
FW1872913.UP.FTS.B,
26.55%,
10/18/26
.
11,382
1,728
FW1873971.UP.FTS.B,
26.57%,
10/18/26
.
5,631
1,653
FW1874080.UP.FTS.B,
26.63%,
10/18/26
.
1,810
1,795
FW1873253.UP.FTS.B,
26.73%,
10/18/26
.
4,568
4,535
FW1874049.UP.FTS.B,
26.74%,
10/18/26
.
9,202
9,139
FW1872024.UP.FTS.B,
27.02%,
10/18/26
.
3,148
2,986
FW1874429.UP.FTS.B,
27.19%,
10/18/26
.
3,499
3,475
FW1873145.UP.FTS.B,
27.24%,
10/18/26
.
9,155
9,088
L1873149.UP.FTS.B,
27.32%,
10/18/26
...
5,575
5,290
FW1874433.UP.FTS.B,
27.4%,
10/18/26
..
7,708
7,593
FW1874152.UP.FTS.B,
27.49%,
10/18/26
.
9,229
9,159
FW1872377.UP.FTS.B,
27.5%,
10/18/26
..
4,598
34
FW1873640.UP.FTS.B,
27.67%,
10/18/26
.
32,262
32,040
FW1874252.UP.FTS.B,
27.67%,
10/18/26
.
7,373
7,323
FW1873344.UP.FTS.B,
27.72%,
10/18/26
.
12,905
12,816
FW1874126.UP.FTS.B,
27.94%,
10/18/26
.
4,677
4,437
FW1873866.UP.FTS.B,
28.25%,
10/18/26
.
920
913
FW1872622.UP.FTS.B,
28.59%,
10/18/26
.
2,762
2,742
FW1873950.UP.FTS.B,
28.68%,
10/18/26
.
2,034
2,018
FW1874206.UP.FTS.B,
28.74%,
10/18/26
.
2,473
375
FW1874321.UP.FTS.B,
28.99%,
10/18/26
.
1,479
1,469
FW1874251.UP.FTS.B,
29.26%,
10/18/26
.
4,625
4,593
FW1874208.UP.FTS.B,
29.47%,
10/18/26
.
3,238
3,216
FW1873452.UP.FTS.B,
29.54%,
10/18/26
.
9,290
9,221
FW1860558.UP.FTS.B,
29.76%,
10/18/26
.
5,351
5,313
FW1873160.UP.FTS.B,
30.04%,
10/18/26
.
2,138
2,122
FW1874215.UP.FTS.B,
30.05%,
10/18/26
.
16,303
16,191
FW1874445.UP.FTS.B,
30.14%,
10/18/26
.
3,706
3,681
FW1873788.UP.FTS.B,
30.2%,
10/18/26
..
4,649
4,614
FW1869470.UP.FTS.B,
30.44%,
10/18/26
.
1,907
289
FW1873268.UP.FTS.B,
30.52%,
10/18/26
.
1,669
1,658
FW1872558.UP.FTS.B,
30.55%,
10/18/26
.
1,205
1,197
FW1872779.UP.FTS.B,
30.59%,
10/18/26
.
1,853
1,840
FW1873577.UP.FTS.B,
30.59%,
10/18/26
.
5,564
5,526
FW1872937.UP.FTS.B,
30.6%,
10/18/26
..
3,697
3,671
FW1872183.UP.FTS.B,
30.61%,
10/18/26
.
928
921
FW1873256.UP.FTS.B,
30.68%,
10/18/26
.
1,669
1,658
FW1872032.UP.FTS.B,
30.69%,
10/18/26
.
1,209
356
FW1873026.UP.FTS.B,
30.69%,
10/18/26
.
759
748
FW1873917.UP.FTS.B,
30.73%,
10/18/26
.
1,206
1,198
FW1873110.UP.FTS.B,
30.82%,
10/18/26
.
3,897
3,870
FW1873983.UP.FTS.B,
30.83%,
10/18/26
.
2,135
2,121
FW1873629.UP.FTS.B,
30.84%,
10/18/26
.
3,263
3,096
FW1873543.UP.FTS.B,
30.85%,
10/18/26
.
6,054
6,001
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
188
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
FW1873168.UP.FTS.B,
30.88%,
10/18/26
.
$
3,433
$
3,410
FW1873196.UP.FTS.B,
30.96%,
10/18/26
.
7,115
6,752
FW1865333.UP.FTS.B,
31%,
10/18/26
...
2,785
2,766
FW1873018.UP.FTS.B,
31%,
10/18/26
...
1,021
1,014
FW1874190.UP.FTS.B,
31.02%,
10/18/26
.
17,741
17,613
FW1873583.UP.FTS.B,
31.05%,
10/18/26
.
1,207
1,198
FW1874435.UP.FTS.B,
31.05%,
10/18/26
.
1,671
1,659
FW1873245.UP.FTS.B,
31.06%,
10/18/26
.
1,300
1,291
FW1873234.UP.FTS.B,
31.11%,
10/18/26
.
4,072
4,043
FW1873980.UP.FTS.B,
31.12%,
10/18/26
.
2,267
2,249
FW1873675.UP.FTS.B,
31.14%,
10/18/26
.
20,595
20,376
FW1873932.UP.FTS.B,
31.15%,
10/18/26
.
3,132
3,108
FW1860483.UP.FTS.B,
31.16%,
10/18/26
.
5,292
5,255
FW1874112.UP.FTS.B,
31.18%,
10/18/26
.
4,550
4,518
FW1873036.UP.FTS.B,
31.2%,
10/18/26
..
2,972
2,951
FW1872735.UP.FTS.B,
31.24%,
10/18/26
.
7,471
2,212
FW1873805.UP.FTS.B,
31.46%,
10/18/26
.
1,925
20
FW1874120.UP.FTS.B,
31.52%,
10/18/26
.
3,810
3,760
FW1872988.UP.FTS.B,
31.65%,
10/18/26
.
2,883
200
FW1865754.UP.FTS.B,
31.71%,
10/18/26
.
1,662
1,638
FW1872966.UP.FTS.B,
31.83%,
10/18/26
.
4,276
4,247
FW1872975.UP.FTS.B,
32.03%,
10/18/26
.
2,883
2,863
FW2008579.UP.FTS.B,
5.93%,
11/09/26
..
44,129
43,964
L2010047.UP.FTS.B,
7.23%,
11/09/26
....
8,858
8,804
L2005604.UP.FTS.B,
7.24%,
11/09/26
....
21,272
21,143
L1947969.UP.FTS.B,
8.25%,
11/09/26
....
2,756
2,739
L2004931.UP.FTS.B,
8.92%,
11/09/26
....
16,921
16,821
FW2005584.UP.FTS.B,
8.98%,
11/09/26
..
14,252
14,168
L2009940.UP.FTS.B,
9.06%,
11/09/26
....
30,291
30,113
L2009771.UP.FTS.B,
9.73%,
11/09/26
....
4,463
4,425
L2010120.UP.FTS.B,
9.74%,
11/09/26
....
17,852
17,748
L1982018.UP.FTS.B,
9.85%,
11/09/26
....
4,464
4,438
L2005005.UP.FTS.B,
9.85%,
11/09/26
....
17,818
17,663
L2007402.UP.FTS.B,
10.3%,
11/09/26
....
8,931
8,879
L2008329.UP.FTS.B,
10.3%,
11/09/26
....
5,364
5,333
L2008701.UP.FTS.B,
10.48%,
11/09/26
...
6,102
6,047
L2009188.UP.FTS.B,
10.68%,
11/09/26
...
23,588
23,378
L2008677.UP.FTS.B,
10.77%,
11/09/26
...
8,933
8,856
L2009665.UP.FTS.B,
10.88%,
11/09/26
...
7,611
7,546
L2008105.UP.FTS.B,
10.89%,
11/09/26
...
26,326
26,037
L2006261.UP.FTS.B,
10.9%,
11/09/26
....
4,925
4,883
L2008894.UP.FTS.B,
11.02%,
11/09/26
...
5,375
5,329
L2009417.UP.FTS.B,
11.04%,
11/09/26
...
4,373
4,334
L2004983.UP.FTS.B,
11.09%,
11/09/26
...
22,403
22,275
L2010138.UP.FTS.B,
11.14%,
11/09/26
...
17,921
17,768
L2009190.UP.FTS.B,
11.31%,
11/09/26
...
17,827
17,674
FW2004999.UP.FTS.B,
11.35%,
11/09/26
.
7,175
7,114
L2006518.UP.FTS.B,
11.38%,
11/09/26
...
3,053
3,025
L1977043.UP.FTS.B,
11.43%,
11/09/26
...
4,842
4,801
FW2006974.UP.FTS.B,
11.44%,
11/09/26
.
11,210
11,114
FW2007489.UP.FTS.B,
11.63%,
11/09/26
.
6,315
6,262
L2005122.UP.FTS.B,
12.01%,
11/09/26
...
7,397
7,336
L2008088.UP.FTS.B,
12.1%,
11/09/26
....
9,433
9,353
L2007707.UP.FTS.B,
12.19%,
11/09/26
...
13,425
13,311
L2005904.UP.FTS.B,
12.3%,
11/09/26
....
2,337
2,324
L2006131.UP.FTS.B,
12.37%,
11/09/26
...
18,430
18,274
L1991534.UP.FTS.B,
12.48%,
11/09/26
...
6,005
5,950
L2005066.UP.FTS.B,
12.51%,
11/09/26
...
13,490
13,376
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
L2007649.UP.FTS.B,
12.88%,
11/09/26
...
$
9,002
$
8,927
FW2009636.UP.FTS.B,
13.06%,
11/09/26
.
5,404
5,358
L2009536.UP.FTS.B,
13.07%,
11/09/26
...
5,404
5,359
FW2005799.UP.FTS.B,
13.39%,
11/09/26
.
22,535
22,347
L2008181.UP.FTS.B,
13.51%,
11/09/26
...
1,533
1,520
L2009639.UP.FTS.B,
13.58%,
11/09/26
...
13,528
13,415
L2009960.UP.FTS.B,
13.6%,
11/09/26
....
2,706
2,683
FW2004957.UP.FTS.B,
13.66%,
11/09/26
.
2,255
2,236
L2006397.UP.FTS.B,
13.66%,
11/09/26
...
9,020
8,945
L2008524.UP.FTS.B,
14.03%,
11/09/26
...
17,990
17,839
L2008113.UP.FTS.B,
14.06%,
11/09/26
...
19,413
19,252
L2009683.UP.FTS.B,
14.08%,
11/09/26
...
5,414
5,369
L2009362.UP.FTS.B,
14.1%,
11/09/26
....
4,515
4,478
FW2007197.UP.FTS.B,
14.12%,
11/09/26
.
1,761
1,746
FW2007818.UP.FTS.B,
14.38%,
11/09/26
.
23,963
3,271
L2008435.UP.FTS.B,
14.4%,
11/09/26
....
6,793
6,737
L2009234.UP.FTS.B,
14.43%,
11/09/26
...
13,556
13,444
L2004932.UP.FTS.B,
14.45%,
11/09/26
...
10,772
10,683
L2008618.UP.FTS.B,
14.73%,
11/09/26
...
5,427
5,382
L2009287.UP.FTS.B,
14.91%,
11/09/26
...
5,248
5,205
L2006623.UP.FTS.B,
15.18%,
11/09/26
...
10,025
9,901
FW2009310.UP.FTS.B,
15.19%,
11/09/26
.
4,402
4,364
L2004642.UP.FTS.B,
15.31%,
11/09/26
...
9,470
9,388
L2009277.UP.FTS.B,
15.37%,
11/09/26
...
8,877
8,762
L2008691.UP.FTS.B,
15.38%,
11/09/26
...
4,530
4,492
L2008772.UP.FTS.B,
15.55%,
11/09/26
...
9,063
8,950
L2008089.UP.FTS.B,
15.65%,
11/09/26
...
4,533
4,476
L2007900.UP.FTS.B,
15.91%,
11/09/26
...
2,721
2,687
L2009243.UP.FTS.B,
15.94%,
11/09/26
...
9,072
8,959
FW2006940.UP.FTS.B,
15.96%,
11/09/26
.
2,908
2,861
FW1985810.UP.FTS.B,
16.01%,
11/09/26
.
9,074
8,961
FW2006699.UP.FTS.B,
16.1%,
11/09/26
..
9,077
9,003
L2005019.UP.FTS.B,
16.29%,
11/09/26
...
10,123
5,608
L2009814.UP.FTS.B,
16.29%,
11/09/26
...
9,080
9,006
L2006713.UP.FTS.B,
16.47%,
11/09/26
...
10,900
10,812
L2009219.UP.FTS.B,
16.5%,
11/09/26
....
22,582
22,298
FW2010280.UP.FTS.B,
16.52%,
11/09/26
.
14,536
14,356
L2009783.UP.FTS.B,
16.53%,
11/09/26
...
1,370
1,359
FW2010216.UP.FTS.B,
16.55%,
11/09/26
.
8,177
8,110
L2009879.UP.FTS.B,
16.56%,
11/09/26
...
9,046
8,972
L2008001.UP.FTS.B,
16.67%,
11/09/26
...
13,632
13,522
L2009464.UP.FTS.B,
16.7%,
11/09/26
....
17,954
17,736
L2006903.UP.FTS.B,
16.71%,
11/09/26
...
7,293
7,203
FW2009372.UP.FTS.B,
16.77%,
11/09/26
.
13,635
13,466
L2010173.UP.FTS.B,
16.8%,
11/09/26
....
7,273
7,183
L2009631.UP.FTS.B,
16.91%,
11/09/26
...
6,337
6,257
L2005313.UP.FTS.B,
17.04%,
11/09/26
...
45,479
44,917
L2008272.UP.FTS.B,
17.06%,
11/09/26
...
18,193
17,969
L2008918.UP.FTS.B,
17.09%,
11/09/26
...
6,732
6,649
FW2008938.UP.FTS.B,
17.12%,
11/09/26
.
7,125
7,034
L2005207.UP.FTS.B,
17.16%,
11/09/26
...
10,918
10,783
L2009326.UP.FTS.B,
17.33%,
11/09/26
...
2,146
2,121
L2007404.UP.FTS.B,
17.35%,
11/09/26
...
4,096
4,063
L2006868.UP.FTS.B,
17.53%,
11/09/26
...
14,937
14,755
L2004100.UP.FTS.B,
17.61%,
11/09/26
...
7,815
7,718
FW2008501.UP.FTS.B,
17.65%,
11/09/26
.
9,340
2,505
FW2003971.UP.FTS.B,
17.71%,
11/09/26
.
25,055
24,746
L2005978.UP.FTS.B,
17.84%,
11/09/26
...
3,558
3,512
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
189
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
L2006918.UP.FTS.B,
18.03%,
11/09/26
...
$
30,634
$
30,165
L2008937.UP.FTS.B,
18.22%,
11/09/26
...
5,473
5,406
L2008467.UP.FTS.B,
18.23%,
11/09/26
...
9,123
9,011
L2009319.UP.FTS.B,
18.37%,
11/09/26
...
1,551
1,532
FW2005538.UP.FTS.B,
18.4%,
11/09/26
..
5,483
5,399
L2009332.UP.FTS.B,
18.58%,
11/09/26
...
2,278
2,243
FW2005908.UP.FTS.B,
18.71%,
11/09/26
.
4,109
4,047
L2006524.UP.FTS.B,
18.79%,
11/09/26
...
4,568
4,498
FW2009511.UP.FTS.B,
18.82%,
11/09/26
.
5,481
5,397
L2007568.UP.FTS.B,
18.85%,
11/09/26
...
2,740
2,707
L2006460.UP.FTS.B,
18.86%,
11/09/26
...
3,217
3,178
FW2002309.UP.FTS.B,
18.9%,
11/09/26
..
2,010
1,985
L2006384.UP.FTS.B,
18.95%,
11/09/26
...
9,895
9,774
L2004618.UP.FTS.B,
18.96%,
11/09/26
...
5,482
5,399
L2007966.UP.FTS.B,
18.98%,
11/09/26
...
1,828
1,800
L2007377.UP.FTS.B,
19.06%,
11/09/26
...
15,537
15,347
FW2009189.UP.FTS.B,
19.33%,
11/09/26
.
6,173
6,107
L2009659.UP.FTS.B,
19.37%,
11/09/26
...
12,102
11,954
L2009757.UP.FTS.B,
19.37%,
11/09/26
...
38,412
37,826
L2005634.UP.FTS.B,
19.48%,
11/09/26
...
4,591
4,521
L2006942.UP.FTS.B,
19.57%,
11/09/26
...
14,021
3,615
L2010300.UP.FTS.B,
19.58%,
11/09/26
...
915
901
L2003306.UP.FTS.B,
19.59%,
11/09/26
...
21,138
20,880
FW2008197.UP.FTS.B,
19.77%,
11/09/26
.
18,308
18,141
L2008422.UP.FTS.B,
19.84%,
11/09/26
...
5,036
4,959
FW2006347.UP.FTS.B,
19.88%,
11/09/26
.
5,995
5,923
L2005543.UP.FTS.B,
19.91%,
11/09/26
...
2,204
566
FW2006154.UP.FTS.B,
19.93%,
11/09/26
.
9,588
473
L1983361.UP.FTS.B,
20.01%,
11/09/26
...
8,063
1,161
L2006201.UP.FTS.B,
20.05%,
11/09/26
...
22,973
22,625
L2007782.UP.FTS.B,
20.17%,
11/09/26
...
10,995
10,828
L2007099.UP.FTS.B,
20.26%,
11/09/26
...
30,621
30,338
L2009922.UP.FTS.B,
20.26%,
11/09/26
...
3,574
3,520
L2008551.UP.FTS.B,
20.27%,
11/09/26
...
19,795
19,615
FW2008378.UP.FTS.B,
20.35%,
11/09/26
.
5,044
4,983
L2008219.UP.FTS.B,
20.5%,
11/09/26
....
1,767
1,737
L2009017.UP.FTS.B,
20.52%,
11/09/26
...
6,296
1,708
L2009434.UP.FTS.B,
20.62%,
11/09/26
...
1,834
1,807
L2006982.UP.FTS.B,
20.66%,
11/09/26
...
4,586
4,545
L2009697.UP.FTS.B,
20.69%,
11/09/26
...
4,587
4,517
FW2004995.UP.FTS.B,
21%,
11/09/26
...
5,324
5,243
FW2007433.UP.FTS.B,
21.02%,
11/09/26
.
6,885
6,822
FW2009325.UP.FTS.B,
21.04%,
11/09/26
.
5,875
5,786
FW2006513.UP.FTS.B,
21.09%,
11/09/26
.
1,839
1,811
FW2008076.UP.FTS.B,
21.13%,
11/09/26
.
2,295
2,261
L2005679.UP.FTS.B,
21.2%,
11/09/26
....
22,959
22,681
L2007766.UP.FTS.B,
21.29%,
11/09/26
...
3,289
914
L2009584.UP.FTS.B,
21.3%,
11/09/26
....
10,449
10,353
L2006375.UP.FTS.B,
21.38%,
11/09/26
...
3,684
3,648
L2008251.UP.FTS.B,
21.4%,
11/09/26
....
4,594
4,524
FW2004906.UP.FTS.B,
21.42%,
11/09/26
.
11,831
11,647
FW2006624.UP.FTS.B,
21.63%,
11/09/26
.
37,898
22,557
FW2008069.UP.FTS.B,
21.82%,
11/09/26
.
10,024
9,933
L2009406.UP.FTS.B,
21.82%,
11/09/26
...
4,230
4,192
L2009250.UP.FTS.B,
21.88%,
11/09/26
...
3,857
3,811
L2007361.UP.FTS.B,
21.89%,
11/09/26
...
3,943
3,896
L2008476.UP.FTS.B,
21.9%,
11/09/26
....
13,888
13,678
L2008942.UP.FTS.B,
21.92%,
11/09/26
...
3,035
3,008
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
L2004302.UP.FTS.B,
21.93%,
11/09/26
...
$
2,943
$
2,917
L2008042.UP.FTS.B,
22%,
11/09/26
.....
9,659
9,513
L2009653.UP.FTS.B,
22.08%,
11/09/26
...
916
902
L2005261.UP.FTS.B,
22.11%,
11/09/26
...
8,945
8,854
L2009041.UP.FTS.B,
22.15%,
11/09/26
...
8,836
8,756
FW2009886.UP.FTS.B,
22.16%,
11/09/26
.
3,681
3,625
L2009468.UP.FTS.B,
22.18%,
11/09/26
...
11,964
11,856
L2009034.UP.FTS.B,
22.22%,
11/09/26
...
6,392
6,331
FW2009198.UP.FTS.B,
22.28%,
11/09/26
.
921
912
L2005434.UP.FTS.B,
22.32%,
11/09/26
...
1,861
1,844
L2008599.UP.FTS.B,
22.35%,
11/09/26
...
1,841
1,814
L2004674.UP.FTS.B,
22.44%,
11/09/26
...
8,037
7,954
FW1986141.UP.FTS.B,
22.72%,
11/09/26
.
5,694
831
FW2009282.UP.FTS.B,
22.76%,
11/09/26
.
5,728
822
L2007307.UP.FTS.B,
22.83%,
11/09/26
...
4,439
4,392
L2008298.UP.FTS.B,
22.83%,
11/09/26
...
3,223
1,920
L2008480.UP.FTS.B,
22.94%,
11/09/26
...
13,827
13,703
L2009304.UP.FTS.B,
23.03%,
11/09/26
...
3,319
3,279
L2007937.UP.FTS.B,
23.09%,
11/09/26
...
13,831
13,623
L2007252.UP.FTS.B,
23.46%,
11/09/26
...
7,752
7,682
L2005478.UP.FTS.B,
23.62%,
11/09/26
...
16,616
16,467
L2004813.UP.FTS.B,
23.68%,
11/09/26
...
5,539
5,490
L2009454.UP.FTS.B,
23.92%,
11/09/26
...
6,992
6,928
FW2007802.UP.FTS.B,
23.93%,
11/09/26
.
32,514
32,210
FW2009613.UP.FTS.B,
23.97%,
11/09/26
.
11,979
11,871
FW2009403.UP.FTS.B,
24.22%,
11/09/26
.
6,427
6,367
L2007056.UP.FTS.B,
24.37%,
11/09/26
...
2,219
2,199
FW2009608.UP.FTS.B,
24.41%,
11/09/26
.
19,416
19,244
L2008806.UP.FTS.B,
24.53%,
11/09/26
...
6,845
6,773
FW2008259.UP.FTS.B,
24.66%,
11/09/26
.
2,575
184
L2006560.UP.FTS.B,
24.67%,
11/09/26
...
6,516
6,441
L2008130.UP.FTS.B,
24.71%,
11/09/26
...
1,203
1,185
L2008990.UP.FTS.B,
24.79%,
11/09/26
...
663
651
L2007154.UP.FTS.B,
24.83%,
11/09/26
...
3,848
3,808
L2009932.UP.FTS.B,
24.83%,
11/09/26
...
3,216
3,186
FW2005842.UP.FTS.B,
24.84%,
11/09/26
.
2,366
682
L2006617.UP.FTS.B,
24.88%,
11/09/26
...
1,290
370
L2008148.UP.FTS.B,
24.89%,
11/09/26
...
955
140
L2009896.UP.FTS.B,
24.89%,
11/09/26
...
2,776
2,752
L2010117.UP.FTS.B,
24.96%,
11/09/26
...
3,703
3,670
FW2006718.UP.FTS.B,
24.97%,
11/09/26
.
4,628
4,587
L2008954.UP.FTS.B,
24.98%,
11/09/26
...
2,865
420
FW2008266.UP.FTS.B,
25.01%,
11/09/26
.
5,554
5,505
L2008356.UP.FTS.B,
25.02%,
11/09/26
...
4,633
4,592
L2009544.UP.FTS.B,
25.03%,
11/09/26
...
926
918
L2007001.UP.FTS.B,
25.04%,
11/09/26
...
1,389
1,368
L2009387.UP.FTS.B,
25.09%,
11/09/26
...
4,481
4,440
L2009811.UP.FTS.B,
25.09%,
11/09/26
...
3,820
275
L2006100.UP.FTS.B,
25.1%,
11/09/26
....
3,423
3,372
L2009837.UP.FTS.B,
25.1%,
11/09/26
....
1,389
1,377
L2006519.UP.FTS.B,
25.11%,
11/09/26
...
2,037
2,019
L1992164.UP.FTS.B,
25.12%,
11/09/26
...
3,148
3,120
L2008646.UP.FTS.B,
25.12%,
11/09/26
...
1,204
1,193
L2008062.UP.FTS.B,
25.15%,
11/09/26
...
1,296
1,277
L2005357.UP.FTS.B,
25.2%,
11/09/26
....
4,630
4,589
L2008993.UP.FTS.B,
25.21%,
11/09/26
...
8,789
8,710
FW2006444.UP.FTS.B,
25.24%,
11/09/26
.
5,528
5,477
L2005412.UP.FTS.B,
25.25%,
11/09/26
...
2,336
2,315
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
190
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
L2009535.UP.FTS.B,
25.27%,
11/09/26
...
$
13,878
$
2,044
L2009909.UP.FTS.B,
25.28%,
11/09/26
...
3,798
3,764
L2009998.UP.FTS.B,
25.28%,
11/09/26
...
1,111
1,102
L2009664.UP.FTS.B,
25.29%,
11/09/26
...
1,368
1,354
L2009157.UP.FTS.B,
25.31%,
11/09/26
...
1,943
31
L2009595.UP.FTS.B,
25.31%,
11/09/26
...
3,983
3,924
L2006252.UP.FTS.B,
25.33%,
11/09/26
...
7,369
7,301
L2005350.UP.FTS.B,
25.34%,
11/09/26
...
761
436
L2007046.UP.FTS.B,
25.34%,
11/09/26
...
1,667
1,653
FW2009941.UP.FTS.B,
25.35%,
11/09/26
.
7,755
7,684
L2009460.UP.FTS.B,
25.35%,
11/09/26
...
2,872
2,846
L2005437.UP.FTS.B,
25.37%,
11/09/26
...
926
918
L2007369.UP.FTS.B,
25.4%,
11/09/26
....
1,575
1,561
L2009364.UP.FTS.B,
25.41%,
11/09/26
...
4,657
4,613
L2009802.UP.FTS.B,
25.42%,
11/09/26
...
7,051
6,983
L2007026.UP.FTS.B,
25.44%,
11/09/26
...
1,668
1,653
L2008862.UP.FTS.B,
25.44%,
11/09/26
...
3,150
3,122
L1976857.UP.FTS.B,
25.45%,
11/09/26
...
7,412
7,347
L2008185.UP.FTS.B,
25.45%,
11/09/26
...
3,706
3,673
L2008393.UP.FTS.B,
25.47%,
11/09/26
...
9,930
9,835
L2005075.UP.FTS.B,
25.48%,
11/09/26
...
2,156
2,130
L2009842.UP.FTS.B,
25.48%,
11/09/26
...
2,849
2,819
L2007493.UP.FTS.B,
25.49%,
11/09/26
...
4,541
4,498
FW2005949.UP.FTS.B,
25.57%,
11/09/26
.
8,341
8,267
FW2009730.UP.FTS.B,
25.57%,
11/09/26
.
13,901
13,778
L2004971.UP.FTS.B,
25.6%,
11/09/26
....
9,254
9,171
L2005577.UP.FTS.B,
25.63%,
11/09/26
...
5,561
5,512
L2007383.UP.FTS.B,
25.64%,
11/09/26
...
3,615
3,583
L2009541.UP.FTS.B,
25.69%,
11/09/26
...
3,893
3,859
FW2007372.UP.FTS.B,
25.7%,
11/09/26
..
3,708
3,675
L2009877.UP.FTS.B,
25.76%,
11/09/26
...
6,993
6,929
L2009064.UP.FTS.B,
25.78%,
11/09/26
...
7,118
1,040
FW2006387.UP.FTS.B,
25.89%,
11/09/26
.
3,313
959
L2004832.UP.FTS.B,
25.91%,
11/09/26
...
3,607
3,563
L2008285.UP.FTS.B,
25.92%,
11/09/26
...
5,194
5,148
FW2007502.UP.FTS.B,
25.93%,
11/09/26
.
9,297
9,209
L2006111.UP.FTS.B,
26.01%,
11/09/26
...
9,100
9,013
FW2009267.UP.FTS.B,
26.03%,
11/09/26
.
14,199
4,097
L2008078.UP.FTS.B,
26.04%,
11/09/26
...
4,638
4,597
L2007533.UP.FTS.B,
26.06%,
11/09/26
...
13,176
13,079
FW2007576.UP.FTS.B,
26.1%,
11/09/26
..
6,494
6,437
L2009167.UP.FTS.B,
26.14%,
11/09/26
...
9,278
9,196
L2005548.UP.FTS.B,
26.19%,
11/09/26
...
6,124
6,070
FW1993820.UP.FTS.B,
26.38%,
11/09/26
.
5,570
5,521
FW2006658.UP.FTS.B,
26.38%,
11/09/26
.
5,570
5,487
FW2006782.UP.FTS.B,
26.4%,
11/09/26
..
18,566
18,403
FW1997017.UP.FTS.B,
26.42%,
11/09/26
.
3,249
3,220
L2008324.UP.FTS.B,
26.43%,
11/09/26
...
4,981
4,935
L2008169.UP.FTS.B,
26.64%,
11/09/26
...
17,181
17,030
L1999796.UP.FTS.B,
26.73%,
11/09/26
...
4,608
4,543
FW2005890.UP.FTS.B,
26.88%,
11/09/26
.
11,751
841
L2007687.UP.FTS.B,
26.89%,
11/09/26
...
18,116
10,815
FW2008915.UP.FTS.B,
27.18%,
11/09/26
.
1,395
1,382
FW2008080.UP.FTS.B,
27.3%,
11/09/26
..
1,395
1,383
FW2009450.UP.FTS.B,
27.39%,
11/09/26
.
7,938
7,865
FW2008423.UP.FTS.B,
27.57%,
11/09/26
.
6,281
6,216
FW2007457.UP.FTS.B,
27.58%,
11/09/26
.
2,791
2,767
FW2007274.UP.FTS.B,
27.62%,
11/09/26
.
2,304
2,283
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
FW2009180.UP.FTS.B,
27.72%,
11/09/26
.
$
16,194
$
16,052
FW2007864.UP.FTS.B,
27.83%,
11/09/26
.
4,654
4,614
FW2006870.UP.FTS.B,
27.89%,
11/09/26
.
6,041
5,988
FW2005768.UP.FTS.B,
27.98%,
11/09/26
.
1,412
1,399
FW2008745.UP.FTS.B,
28.05%,
11/09/26
.
5,544
5,493
FW2009329.UP.FTS.B,
28.05%,
11/09/26
.
3,911
3,877
FW2008777.UP.FTS.B,
28.16%,
11/09/26
.
2,797
2,773
FW2005435.UP.FTS.B,
28.32%,
11/09/26
.
13,976
13,854
FW2006392.UP.FTS.B,
28.34%,
11/09/26
.
2,023
1,994
FW2008944.UP.FTS.B,
28.36%,
11/09/26
.
4,007
3,972
FW2005859.UP.FTS.B,
28.42%,
11/09/26
.
12,115
12,009
FW2009975.UP.FTS.B,
28.52%,
11/09/26
.
985
972
FW2006618.UP.FTS.B,
28.54%,
11/09/26
.
4,295
4,249
FW2009953.UP.FTS.B,
28.59%,
11/09/26
.
4,195
4,158
FW2007255.UP.FTS.B,
28.65%,
11/09/26
.
5,594
5,545
FW2005558.UP.FTS.B,
28.68%,
11/09/26
.
44,967
(151)
FW2008764.UP.FTS.B,
28.69%,
11/09/26
.
15,633
1,091
FW2006396.UP.FTS.B,
28.95%,
11/09/26
.
933
925
FW2009473.UP.FTS.B,
29.09%,
11/09/26
.
5,598
5,550
FW2005194.UP.FTS.B,
29.14%,
11/09/26
.
5,633
5,582
FW2008122.UP.FTS.B,
29.26%,
11/09/26
.
974
958
FW2006599.UP.FTS.B,
29.3%,
11/09/26
..
5,134
5,089
FW2007779.UP.FTS.B,
29.31%,
11/09/26
.
4,615
4,571
FW2009478.UP.FTS.B,
29.32%,
11/09/26
.
1,321
383
FW2006016.UP.FTS.B,
29.35%,
11/09/26
.
2,879
419
FW2006841.UP.FTS.B,
29.42%,
11/09/26
.
3,921
3,887
FW2009538.UP.FTS.B,
29.42%,
11/09/26
.
2,894
2,869
FW2006288.UP.FTS.B,
29.51%,
11/09/26
.
25,206
7,310
FW2007207.UP.FTS.B,
29.52%,
11/09/26
.
1,452
(9)
FW2009687.UP.FTS.B,
29.61%,
11/09/26
.
5,616
5,564
FW2007420.UP.FTS.B,
29.73%,
11/09/26
.
1,775
1,760
FW2009107.UP.FTS.B,
29.81%,
11/09/26
.
3,383
3,352
FW2009414.UP.FTS.B,
30.01%,
11/09/26
.
11,402
11,303
FW2009044.UP.FTS.B,
30.03%,
11/09/26
.
2,894
842
FW2006189.UP.FTS.B,
30.04%,
11/09/26
.
3,179
3,143
FW2008625.UP.FTS.B,
30.09%,
11/09/26
.
3,448
241
FW2006892.UP.FTS.B,
30.2%,
11/09/26
..
7,481
7,416
FW2005344.UP.FTS.B,
30.24%,
11/09/26
.
3,856
2,304
FW2006342.UP.FTS.B,
30.28%,
11/09/26
.
2,877
1,719
FW2005550.UP.FTS.B,
30.37%,
11/09/26
.
1,467
2
FW2005675.UP.FTS.B,
30.41%,
11/09/26
.
1,692
1,671
FW2007884.UP.FTS.B,
30.51%,
11/09/26
.
2,806
2,782
FW2006157.UP.FTS.B,
30.64%,
11/09/26
.
2,211
646
FW2009773.UP.FTS.B,
30.66%,
11/09/26
.
7,846
3
FW2009221.UP.FTS.B,
30.79%,
11/09/26
.
12,566
12,451
FW2008923.UP.FTS.B,
30.84%,
11/09/26
.
2,714
2,691
FW2009706.UP.FTS.B,
30.84%,
11/09/26
.
1,518
910
FW2006156.UP.FTS.B,
30.87%,
11/09/26
.
1,404
1,392
FW2007936.UP.FTS.B,
30.89%,
11/09/26
.
3,838
3,805
FW2006562.UP.FTS.B,
30.93%,
11/09/26
.
2,424
2,402
FW2006359.UP.FTS.B,
30.96%,
11/09/26
.
1,870
1,849
FW2007277.UP.FTS.B,
30.98%,
11/09/26
.
1,040
623
FW1996714.UP.FTS.B,
30.99%,
11/09/26
.
953
277
FW2010168.UP.FTS.B,
30.99%,
11/09/26
.
10,827
3,144
FW1985263.UP.FTS.B,
31.02%,
11/09/26
.
1,498
1,485
FW2008799.UP.FTS.B,
31.02%,
11/09/26
.
1,124
1,114
FW2005025.UP.FTS.B,
31.15%,
11/09/26
.
6,938
6,879
FW2006312.UP.FTS.B,
31.16%,
11/09/26
.
1,334
388
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
191
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
FW2007426.UP.FTS.B,
31.18%,
11/09/26
.
$
2,248
$
2,228
FW2008914.UP.FTS.B,
31.18%,
11/09/26
.
3,256
3,226
FW2009028.UP.FTS.B,
31.18%,
11/09/26
.
2,248
2,228
FW2009431.UP.FTS.B,
31.19%,
11/09/26
.
1,780
1,765
FW2008461.UP.FTS.B,
31.23%,
11/09/26
.
1,841
269
FW2008432.UP.FTS.B,
31.3%,
11/09/26
..
4,124
4,088
FW2008400.UP.FTS.B,
31.31%,
11/09/26
.
3,185
3,158
FW2005541.UP.FTS.B,
31.38%,
11/09/26
.
7,437
7,369
FW2007815.UP.FTS.B,
31.39%,
11/09/26
.
5,324
376
FW2005395.UP.FTS.B,
31.42%,
11/09/26
.
14,389
4,190
FW2009323.UP.FTS.B,
31.47%,
11/09/26
.
5,656
5,606
FW2009592.UP.FTS.B,
31.5%,
11/09/26
..
2,979
2,941
FW2007089.UP.FTS.B,
31.52%,
11/09/26
.
7,028
6,968
FW2009331.UP.FTS.B,
31.54%,
11/09/26
.
4,702
4,660
FW2010080.UP.FTS.B,
31.58%,
11/09/26
.
5,620
397
FW2010067.UP.FTS.B,
31.59%,
11/09/26
.
3,005
(42)
FW2008689.UP.FTS.B,
31.62%,
11/09/26
.
2,179
1,307
FW2009217.UP.FTS.B,
31.81%,
11/09/26
.
7,247
504
FW2008358.UP.FTS.B,
31.88%,
11/09/26
.
4,634
327
FW2009736.UP.FTS.B,
31.9%,
11/09/26
..
7,314
1,060
FW2009952.UP.FTS.B,
32.63%,
11/09/26
.
16,084
31
L2077746.UP.FTS.B,
6%,
11/19/26
......
4,987
4,941
L2076380.UP.FTS.B,
7.8%,
11/19/26
.....
13,316
13,246
L2076555.UP.FTS.B,
9.38%,
11/19/26
....
6,242
6,210
FW2075880.UP.FTS.B,
9.48%,
11/19/26
..
12,934
12,867
FW2079511.UP.FTS.B,
9.94%,
11/19/26
..
5,807
5,777
L2077362.UP.FTS.B,
10.03%,
11/19/26
...
17,867
17,775
L2077278.UP.FTS.B,
10.24%,
11/19/26
...
1,912
1,902
L2079683.UP.FTS.B,
10.46%,
11/19/26
...
4,000
3,970
L2078817.UP.FTS.B,
10.96%,
11/19/26
...
41,199
40,897
L2077229.UP.FTS.B,
11.22%,
11/19/26
...
17,925
17,794
L2079790.UP.FTS.B,
11.54%,
11/19/26
...
7,625
7,569
L2078831.UP.FTS.B,
11.67%,
11/19/26
...
1,747
1,734
L2079809.UP.FTS.B,
11.68%,
11/19/26
...
6,281
6,236
L2075431.UP.FTS.B,
11.87%,
11/19/26
...
20,649
20,499
L2077619.UP.FTS.B,
12.17%,
11/19/26
...
992
984
FW2079744.UP.FTS.B,
12.58%,
11/19/26
.
4,947
4,911
L2077342.UP.FTS.B,
12.81%,
11/19/26
...
3,600
3,574
L2069545.UP.FTS.B,
12.88%,
11/19/26
...
5,401
5,362
L2078850.UP.FTS.B,
13.23%,
11/19/26
...
4,302
4,268
FW2076618.UP.FTS.B,
13.72%,
11/19/26
.
20,750
20,601
L2077586.UP.FTS.B,
13.74%,
11/19/26
...
5,033
4,739
L2079340.UP.FTS.B,
14.05%,
11/19/26
...
2,618
2,600
L2078387.UP.FTS.B,
14.26%,
11/19/26
...
2,530
2,511
L2080759.UP.FTS.B,
14.39%,
11/19/26
...
13,466
13,367
L2046091.UP.FTS.B,
14.56%,
11/19/26
...
1,909
268
FW2078825.UP.FTS.B,
14.72%,
11/19/26
.
18,994
18,859
L2079956.UP.FTS.B,
14.89%,
11/19/26
...
6,334
6,268
L2077934.UP.FTS.B,
15.05%,
11/19/26
...
6,789
6,741
L2079762.UP.FTS.B,
15.07%,
11/19/26
...
4,526
4,479
L2078364.UP.FTS.B,
15.16%,
11/19/26
...
5,433
5,376
L2080441.UP.FTS.B,
15.17%,
11/19/26
...
8,304
7,825
L2077585.UP.FTS.B,
15.3%,
11/19/26
....
6,983
6,578
L2080377.UP.FTS.B,
15.37%,
11/19/26
...
8,153
8,068
L2080290.UP.FTS.B,
15.38%,
11/19/26
...
5,969
5,623
L2078013.UP.FTS.B,
15.44%,
11/19/26
...
12,102
12,016
L2078145.UP.FTS.B,
15.54%,
11/19/26
...
2,199
2,183
FW2078232.UP.FTS.B,
15.58%,
11/19/26
.
22,906
22,732
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
L2076773.UP.FTS.B,
15.83%,
11/19/26
...
$
4,901
$
4,850
L2076923.UP.FTS.B,
15.84%,
11/19/26
...
15,872
15,761
L2080905.UP.FTS.B,
15.91%,
11/19/26
...
14,689
14,574
L2078858.UP.FTS.B,
16.1%,
11/19/26
....
16,298
16,119
L2076549.UP.FTS.B,
16.3%,
11/19/26
....
2,206
2,190
L2077446.UP.FTS.B,
16.31%,
11/19/26
...
5,902
5,841
L2080949.UP.FTS.B,
16.51%,
11/19/26
...
6,862
6,782
L2077345.UP.FTS.B,
16.52%,
11/19/26
...
2,453
2,436
L2078556.UP.FTS.B,
16.55%,
11/19/26
...
4,360
4,311
L2077624.UP.FTS.B,
16.62%,
11/19/26
...
40,892
40,468
L2078462.UP.FTS.B,
16.62%,
11/19/26
...
9,375
9,283
L2077136.UP.FTS.B,
16.73%,
11/19/26
...
9,089
8,995
FW2080998.UP.FTS.B,
16.87%,
11/19/26
.
884
875
FW2078513.UP.FTS.B,
16.88%,
11/19/26
.
16,367
16,198
L2079147.UP.FTS.B,
16.93%,
11/19/26
...
15,430
15,269
L2076368.UP.FTS.B,
16.96%,
11/19/26
...
13,642
13,501
L2080104.UP.FTS.B,
16.97%,
11/19/26
...
46,171
43,503
L2080899.UP.FTS.B,
17.22%,
11/19/26
...
5,460
5,422
FW2079044.UP.FTS.B,
17.32%,
11/19/26
.
1,434
58
L2073789.UP.FTS.B,
17.39%,
11/19/26
...
2,731
2,703
L2077275.UP.FTS.B,
17.44%,
11/19/26
...
5,995
5,648
L2078117.UP.FTS.B,
17.47%,
11/19/26
...
2,823
2,794
L2078785.UP.FTS.B,
17.53%,
11/19/26
...
9,107
8,990
L2079161.UP.FTS.B,
17.64%,
11/19/26
...
5,373
5,315
FW2077194.UP.FTS.B,
17.96%,
11/19/26
.
9,029
8,932
L2077305.UP.FTS.B,
17.97%,
11/19/26
...
17,178
652
L2079526.UP.FTS.B,
17.98%,
11/19/26
...
3,464
3,440
FW2077428.UP.FTS.B,
18.23%,
11/19/26
.
9,122
9,005
L2078320.UP.FTS.B,
18.26%,
11/19/26
...
3,791
3,764
L2077316.UP.FTS.B,
18.51%,
11/19/26
...
6,390
6,308
L2078541.UP.FTS.B,
18.53%,
11/19/26
...
3,195
3,154
L2078767.UP.FTS.B,
18.54%,
11/19/26
...
913
903
FW2080677.UP.FTS.B,
18.72%,
11/19/26
.
15,525
15,366
L2080184.UP.FTS.B,
19.05%,
11/19/26
...
4,998
4,965
FW2078252.UP.FTS.B,
19.1%,
11/19/26
..
1,692
1,667
L2079089.UP.FTS.B,
19.11%,
11/19/26
...
5,450
5,393
L2077889.UP.FTS.B,
19.41%,
11/19/26
...
6,768
6,682
L2078380.UP.FTS.B,
19.51%,
11/19/26
...
14,638
14,488
L1966479.UP.FTS.B,
19.7%,
11/19/26
....
10,532
10,398
L2079136.UP.FTS.B,
19.7%,
11/19/26
....
15,102
15,011
FW2078808.UP.FTS.B,
19.87%,
11/19/26
.
22,890
22,599
L2077834.UP.FTS.B,
19.87%,
11/19/26
...
13,797
13,623
FW2076082.UP.FTS.B,
20.04%,
11/19/26
.
18,320
18,087
L2078706.UP.FTS.B,
20.11%,
11/19/26
...
7,329
7,236
L2080653.UP.FTS.B,
20.24%,
11/19/26
...
4,124
4,071
L2077864.UP.FTS.B,
20.33%,
11/19/26
...
20,165
19,909
L2080091.UP.FTS.B,
20.35%,
11/19/26
...
2,373
345
L2076559.UP.FTS.B,
20.51%,
11/19/26
...
9,871
9,740
L2075161.UP.FTS.B,
20.64%,
11/19/26
...
32,103
31,776
L2079005.UP.FTS.B,
20.71%,
11/19/26
...
3,324
507
L2076267.UP.FTS.B,
20.73%,
11/19/26
...
13,743
13,568
L2077767.UP.FTS.B,
20.73%,
11/19/26
...
9,174
9,119
FW2079399.UP.FTS.B,
20.8%,
11/19/26
..
16,492
16,392
FW2077930.UP.FTS.B,
20.81%,
11/19/26
.
9,175
9,120
L2076291.UP.FTS.B,
21.19%,
11/19/26
...
1,960
140
L2051484.UP.FTS.B,
21.26%,
11/19/26
...
1,837
1,814
L2078669.UP.FTS.B,
21.32%,
11/19/26
...
9,186
9,093
FW2080621.UP.FTS.B,
21.61%,
11/19/26
.
9,887
1,508
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
192
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
L2076499.UP.FTS.B,
21.61%,
11/19/26
...
$
1,668
$
121
L2077511.UP.FTS.B,
21.66%,
11/19/26
...
4,137
4,113
L2076870.UP.FTS.B,
21.71%,
11/19/26
...
5,500
5,444
L2076557.UP.FTS.B,
21.86%,
11/19/26
...
22,440
22,306
FW2080860.UP.FTS.B,
21.93%,
11/19/26
.
18,205
18,083
L2080901.UP.FTS.B,
21.94%,
11/19/26
...
9,934
9,875
FW2076510.UP.FTS.B,
22.17%,
11/19/26
.
36,811
36,347
L2080597.UP.FTS.B,
22.59%,
11/19/26
...
2,026
2,014
L2078089.UP.FTS.B,
22.76%,
11/19/26
...
18,429
18,197
FW2080174.UP.FTS.B,
22.97%,
11/19/26
.
5,501
394
FW2080574.UP.FTS.B,
23.09%,
11/19/26
.
5,131
5,099
L2077002.UP.FTS.B,
23.1%,
11/19/26
....
9,410
8,939
FW2078029.UP.FTS.B,
23.15%,
11/19/26
.
4,334
4,309
FW2077484.UP.FTS.B,
23.29%,
11/19/26
.
13,837
13,755
L2078079.UP.FTS.B,
23.52%,
11/19/26
...
4,615
4,557
L2078431.UP.FTS.B,
23.7%,
11/19/26
....
2,768
2,661
L2078747.UP.FTS.B,
23.9%,
11/19/26
....
3,177
65
L2076582.UP.FTS.B,
24.04%,
11/19/26
...
19,116
18,912
L2079001.UP.FTS.B,
24.08%,
11/19/26
...
14,504
14,405
L2077380.UP.FTS.B,
24.14%,
11/19/26
...
4,428
4,402
FW2076263.UP.FTS.B,
24.18%,
11/19/26
.
2,865
2,836
FW2047900.UP.FTS.B,
24.6%,
11/19/26
..
6,593
6,217
FW2079138.UP.FTS.B,
24.71%,
11/19/26
.
14,219
2,112
L2051923.UP.FTS.B,
24.73%,
11/19/26
...
1,736
1,721
L2077667.UP.FTS.B,
24.74%,
11/19/26
...
1,810
1,797
L2078023.UP.FTS.B,
24.89%,
11/19/26
...
5,418
30
L2077386.UP.FTS.B,
24.97%,
11/19/26
...
1,039
305
L2073677.UP.FTS.B,
24.99%,
11/19/26
...
13,983
13,897
L2077893.UP.FTS.B,
25.04%,
11/19/26
...
2,857
201
FW2078855.UP.FTS.B,
25.07%,
11/19/26
.
4,629
4,602
L2075615.UP.FTS.B,
25.09%,
11/19/26
...
2,222
2,209
L2078549.UP.FTS.B,
25.1%,
11/19/26
....
926
914
L2080336.UP.FTS.B,
25.14%,
11/19/26
...
1,852
1,841
FW2076803.UP.FTS.B,
25.16%,
11/19/26
.
40,891
2,931
FW2078837.UP.FTS.B,
25.18%,
11/19/26
.
2,408
2,378
L2077756.UP.FTS.B,
25.18%,
11/19/26
...
1,111
1,105
L2079113.UP.FTS.B,
25.21%,
11/19/26
...
1,738
122
L2080819.UP.FTS.B,
25.23%,
11/19/26
...
1,575
1,565
L2080926.UP.FTS.B,
25.26%,
11/19/26
...
3,567
57
L2080514.UP.FTS.B,
25.27%,
11/19/26
...
2,038
2,026
L2075929.UP.FTS.B,
25.33%,
11/19/26
...
2,497
2,465
L2055608.UP.FTS.B,
25.35%,
11/19/26
...
1,482
1,473
L2077452.UP.FTS.B,
25.36%,
11/19/26
...
2,427
172
FW2077604.UP.FTS.B,
25.4%,
11/19/26
..
3,521
3,500
L2078857.UP.FTS.B,
25.44%,
11/19/26
...
1,575
1,566
L2078465.UP.FTS.B,
25.48%,
11/19/26
...
4,549
4,519
L2079168.UP.FTS.B,
25.49%,
11/19/26
...
10,100
10,041
L2079636.UP.FTS.B,
25.5%,
11/19/26
....
2,317
2,303
L2080869.UP.FTS.B,
25.5%,
11/19/26
....
2,437
173
L2080879.UP.FTS.B,
25.51%,
11/19/26
...
3,892
3,869
FW2079109.UP.FTS.B,
25.53%,
11/19/26
.
5,560
5,528
FW2080532.UP.FTS.B,
25.55%,
11/19/26
.
18,563
18,331
FW2076607.UP.FTS.B,
25.56%,
11/19/26
.
18,536
18,427
FW2076520.UP.FTS.B,
25.58%,
11/19/26
.
1,854
1,843
L2080301.UP.FTS.B,
25.61%,
11/19/26
...
3,693
3,670
FW2078739.UP.FTS.B,
25.62%,
11/19/26
.
1,912
292
FW2077257.UP.FTS.B,
25.78%,
11/19/26
.
5,563
5,530
L2076428.UP.FTS.B,
25.82%,
11/19/26
...
7,792
7,746
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
L2076758.UP.FTS.B,
25.84%,
11/19/26
...
$
4,266
$
4,241
L2077747.UP.FTS.B,
25.84%,
11/19/26
...
6,677
6,637
FW2075811.UP.FTS.B,
25.85%,
11/19/26
.
1,020
1,007
L2076862.UP.FTS.B,
25.93%,
11/19/26
...
5,750
5,716
L2080433.UP.FTS.B,
25.97%,
11/19/26
...
2,226
2,198
L2075052.UP.FTS.B,
25.99%,
11/19/26
...
4,545
4,518
L2078570.UP.FTS.B,
26.02%,
11/19/26
...
14,062
13,361
FW2076721.UP.FTS.B,
26.13%,
11/19/26
.
7,033
6,682
FW2080275.UP.FTS.B,
26.15%,
11/19/26
.
3,247
3,228
FW2075118.UP.FTS.B,
26.16%,
11/19/26
.
2,272
2,159
L2076228.UP.FTS.B,
26.28%,
11/19/26
...
3,255
3,233
FW2057769.UP.FTS.B,
26.4%,
11/19/26
..
5,739
1,694
FW2078057.UP.FTS.B,
26.47%,
11/19/26
.
1,951
1,940
FW2079458.UP.FTS.B,
26.51%,
11/19/26
.
3,980
3,934
L2080156.UP.FTS.B,
26.56%,
11/19/26
...
2,786
2,770
L2077173.UP.FTS.B,
26.59%,
11/19/26
...
11,081
11,012
FW2076617.UP.FTS.B,
26.67%,
11/19/26
.
27,121
26,962
L2076223.UP.FTS.B,
26.74%,
11/19/26
...
9,691
9,630
FW2079015.UP.FTS.B,
26.82%,
11/19/26
.
3,961
282
FW2074690.UP.FTS.B,
26.87%,
11/19/26
.
6,523
6,482
FW2070515.UP.FTS.B,
26.89%,
11/19/26
.
4,181
4,157
FW2077979.UP.FTS.B,
26.91%,
11/19/26
.
2,982
213
L2075827.UP.FTS.B,
27%,
11/19/26
.....
8,643
8,593
FW2079469.UP.FTS.B,
27.02%,
11/19/26
.
18,699
1,333
FW2073062.UP.FTS.B,
27.11%,
11/19/26
.
13,944
13,863
FW2076319.UP.FTS.B,
27.45%,
11/19/26
.
3,721
3,699
FW2077691.UP.FTS.B,
28%,
11/19/26
...
7,449
7,406
FW2079292.UP.FTS.B,
28.03%,
11/19/26
.
1,862
1,852
FW2078778.UP.FTS.B,
28.26%,
11/19/26
.
9,316
9,262
FW2076337.UP.FTS.B,
28.51%,
11/19/26
.
5,757
(14)
FW2077308.UP.FTS.B,
28.64%,
11/19/26
.
2,849
2,708
FW2079210.UP.FTS.B,
28.66%,
11/19/26
.
4,755
4,727
FW2079921.UP.FTS.B,
29.67%,
11/19/26
.
2,803
2,787
FW2072591.UP.FTS.B,
29.87%,
11/19/26
.
2,897
2,880
FW2076316.UP.FTS.B,
29.92%,
11/19/26
.
4,485
4,460
FW2077221.UP.FTS.B,
29.97%,
11/19/26
.
879
871
FW2077632.UP.FTS.B,
30.15%,
11/19/26
.
9,349
9,295
FW2077700.UP.FTS.B,
30.18%,
11/19/26
.
7,477
7,434
FW2078856.UP.FTS.B,
30.22%,
11/19/26
.
1,863
1,852
FW2078927.UP.FTS.B,
30.32%,
11/19/26
.
5,800
887
FW2078425.UP.FTS.B,
30.41%,
11/19/26
.
3,710
1,102
FW2077874.UP.FTS.B,
30.42%,
11/19/26
.
6,734
6,696
FW2076199.UP.FTS.B,
30.58%,
11/19/26
.
93
92
FW2078643.UP.FTS.B,
30.58%,
11/19/26
.
1,581
1,527
FW2078839.UP.FTS.B,
30.61%,
11/19/26
.
936
931
FW2077363.UP.FTS.B,
30.77%,
11/19/26
.
4,668
4,438
FW2075779.UP.FTS.B,
30.81%,
11/19/26
.
1,711
1,690
FW2075839.UP.FTS.B,
30.81%,
11/19/26
.
4,928
342
FW2077993.UP.FTS.B,
30.84%,
11/19/26
.
2,614
2,599
FW2076598.UP.FTS.B,
31.11%,
11/19/26
.
936
931
FW2074352.UP.FTS.B,
31.13%,
11/19/26
.
1,030
1,024
FW2077684.UP.FTS.B,
31.19%,
11/19/26
.
2,121
324
FW2075287.UP.FTS.B,
31.46%,
11/19/26
.
7,941
7,865
FW2076836.UP.FTS.B,
31.47%,
11/19/26
.
7,247
6,890
FW2076209.UP.FTS.B,
31.48%,
11/19/26
.
3,000
2,983
FW2076436.UP.FTS.B,
31.81%,
11/19/26
.
2,200
155
FW2080557.UP.FTS.B,
31.96%,
11/19/26
.
10,490
(225)
L2198358.UP.FTS.B,
7.09%,
12/07/26
....
3,474
3,445
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
193
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
L2196810.UP.FTS.B,
7.42%,
12/07/26
....
$
5,408
$
5,373
L2195818.UP.FTS.B,
7.43%,
12/07/26
....
874
866
L2198501.UP.FTS.B,
8.94%,
12/07/26
....
3,619
3,596
L2195995.UP.FTS.B,
9.12%,
12/07/26
....
3,892
3,867
L2199695.UP.FTS.B,
9.66%,
12/07/26
....
5,438
5,403
L2199924.UP.FTS.B,
9.76%,
12/07/26
....
6,346
6,306
L2198890.UP.FTS.B,
10.21%,
12/07/26
...
1,361
1,353
FW2200013.UP.FTS.B,
10.26%,
12/07/26
.
12,707
12,589
L2197080.UP.FTS.B,
10.27%,
12/07/26
...
9,580
553
L2199199.UP.FTS.B,
10.28%,
12/07/26
...
8,714
8,633
L2198751.UP.FTS.B,
10.42%,
12/07/26
...
7,264
7,196
L2199240.UP.FTS.B,
10.7%,
12/07/26
....
7,451
7,403
L2198973.UP.FTS.B,
10.91%,
12/07/26
...
5,363
391
L2196100.UP.FTS.B,
10.99%,
12/07/26
...
1,455
1,446
FW2198003.UP.FTS.B,
11.06%,
12/07/26
.
8,220
8,145
L2193649.UP.FTS.B,
11.13%,
12/07/26
...
2,729
2,703
L2197856.UP.FTS.B,
11.23%,
12/07/26
...
4,913
4,867
L2197172.UP.FTS.B,
11.42%,
12/07/26
...
9,102
9,017
FW2195774.UP.FTS.B,
11.53%,
12/07/26
.
28,221
27,959
L2196592.UP.FTS.B,
11.62%,
12/07/26
...
4,917
4,871
L2197038.UP.FTS.B,
12.26%,
12/07/26
...
3,648
3,614
FW2199260.UP.FTS.B,
12.51%,
12/07/26
.
22,355
22,148
L2199654.UP.FTS.B,
12.66%,
12/07/26
...
5,452
5,400
L2200204.UP.FTS.B,
12.79%,
12/07/26
...
11,870
11,760
FW2198067.UP.FTS.B,
12.9%,
12/07/26
..
5,480
5,429
L2198086.UP.FTS.B,
13.28%,
12/07/26
...
9,188
9,105
L2200250.UP.FTS.B,
13.28%,
12/07/26
...
4,570
4,528
FW2197303.UP.FTS.B,
13.29%,
12/07/26
.
3,656
3,622
L2197068.UP.FTS.B,
13.32%,
12/07/26
...
9,141
9,057
L2197658.UP.FTS.B,
13.72%,
12/07/26
...
4,575
4,533
L2196150.UP.FTS.B,
13.9%,
12/07/26
....
11,350
11,246
FW2198165.UP.FTS.B,
14.07%,
12/07/26
.
1,282
1,270
FW2198593.UP.FTS.B,
14.12%,
12/07/26
.
5,495
5,444
L2197131.UP.FTS.B,
14.14%,
12/07/26
...
1,007
998
L2199997.UP.FTS.B,
14.15%,
12/07/26
...
3,389
3,357
L2196542.UP.FTS.B,
14.21%,
12/07/26
...
6,412
6,353
L2196035.UP.FTS.B,
14.38%,
12/07/26
...
4,950
4,904
L2196588.UP.FTS.B,
14.6%,
12/07/26
....
9,624
9,531
L2196864.UP.FTS.B,
14.96%,
12/07/26
...
6,422
6,363
L2195767.UP.FTS.B,
15.08%,
12/07/26
...
2,799
1,467
L2198350.UP.FTS.B,
15.19%,
12/07/26
...
894
886
L2196739.UP.FTS.B,
15.37%,
12/07/26
...
13,683
13,557
L2197260.UP.FTS.B,
15.37%,
12/07/26
...
2,480
2,457
L2197143.UP.FTS.B,
15.39%,
12/07/26
...
9,184
9,058
L2197650.UP.FTS.B,
15.41%,
12/07/26
...
6,888
6,825
L2196913.UP.FTS.B,
15.42%,
12/07/26
...
47,722
6,481
FW2199121.UP.FTS.B,
15.58%,
12/07/26
.
16,972
8,914
L2200040.UP.FTS.B,
15.69%,
12/07/26
...
427
421
FW2198673.UP.FTS.B,
15.71%,
12/07/26
.
18,842
10,438
FW2200360.UP.FTS.B,
15.93%,
12/07/26
.
767
758
L2199860.UP.FTS.B,
16.1%,
12/07/26
....
13,796
13,606
L2197234.UP.FTS.B,
16.24%,
12/07/26
...
18,295
9,598
L2199879.UP.FTS.B,
16.31%,
12/07/26
...
13,315
13,185
FW2197646.UP.FTS.B,
16.34%,
12/07/26
.
8,815
8,727
L2198446.UP.FTS.B,
16.58%,
12/07/26
...
45,765
45,137
L2199625.UP.FTS.B,
16.62%,
12/07/26
...
9,208
9,082
L2199675.UP.FTS.B,
16.72%,
12/07/26
...
13,815
13,625
L2198880.UP.FTS.B,
16.74%,
12/07/26
...
3,458
3,406
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
L2200134.UP.FTS.B,
16.87%,
12/07/26
...
$
25,796
$
25,442
L2199844.UP.FTS.B,
16.94%,
12/07/26
...
9,214
9,129
L2198467.UP.FTS.B,
16.99%,
12/07/26
...
18,430
18,120
L2197174.UP.FTS.B,
17.08%,
12/07/26
...
13,869
13,682
L2195329.UP.FTS.B,
17.11%,
12/07/26
...
4,768
4,702
FW2197380.UP.FTS.B,
17.12%,
12/07/26
.
2,765
2,727
L2198345.UP.FTS.B,
17.18%,
12/07/26
...
21,940
21,640
L2195192.UP.FTS.B,
17.22%,
12/07/26
...
3,042
3,001
L2199351.UP.FTS.B,
17.39%,
12/07/26
...
1,854
1,829
L2198376.UP.FTS.B,
17.42%,
12/07/26
...
20,297
19,956
FW2200209.UP.FTS.B,
17.47%,
12/07/26
.
6,949
6,856
L2197047.UP.FTS.B,
17.47%,
12/07/26
...
11,069
10,918
L2195638.UP.FTS.B,
17.49%,
12/07/26
...
9,225
9,098
L2194879.UP.FTS.B,
17.51%,
12/07/26
...
18,015
17,774
L2192178.UP.FTS.B,
17.53%,
12/07/26
...
6,919
6,824
L2200243.UP.FTS.B,
17.54%,
12/07/26
...
923
910
FW2196193.UP.FTS.B,
17.59%,
12/07/26
.
23,068
22,752
L2199819.UP.FTS.B,
17.72%,
12/07/26
...
16,615
16,462
L2198685.UP.FTS.B,
17.77%,
12/07/26
...
2,700
2,661
L2199007.UP.FTS.B,
17.87%,
12/07/26
...
5,539
5,446
L2200255.UP.FTS.B,
17.89%,
12/07/26
...
7,439
7,317
L2200130.UP.FTS.B,
18.09%,
12/07/26
...
20,320
20,133
L2199726.UP.FTS.B,
18.1%,
12/07/26
....
5,542
5,466
L2195959.UP.FTS.B,
18.12%,
12/07/26
...
10,793
10,645
L2199265.UP.FTS.B,
18.32%,
12/07/26
...
16,633
16,405
L2196210.UP.FTS.B,
18.42%,
12/07/26
...
15,265
15,014
L2200083.UP.FTS.B,
18.51%,
12/07/26
...
4,622
4,544
FW2198541.UP.FTS.B,
18.65%,
12/07/26
.
23,117
22,729
L2197391.UP.FTS.B,
18.77%,
12/07/26
...
2,126
2,093
L2196412.UP.FTS.B,
18.83%,
12/07/26
...
1,665
1,642
L2200053.UP.FTS.B,
18.87%,
12/07/26
...
9,251
9,095
L2199248.UP.FTS.B,
19.04%,
12/07/26
...
13,881
13,691
FW2199060.UP.FTS.B,
19.27%,
12/07/26
.
2,315
2,283
L2200120.UP.FTS.B,
19.52%,
12/07/26
...
10,065
9,894
L2196672.UP.FTS.B,
19.58%,
12/07/26
...
7,874
7,742
L2196821.UP.FTS.B,
19.59%,
12/07/26
...
6,069
5,970
L2199663.UP.FTS.B,
19.69%,
12/07/26
...
5,559
5,466
L2169437.UP.FTS.B,
19.73%,
12/07/26
...
9,267
9,111
FW2198520.UP.FTS.B,
20.07%,
12/07/26
.
9,231
9,074
L2199129.UP.FTS.B,
20.12%,
12/07/26
...
2,040
2,012
L2198874.UP.FTS.B,
20.19%,
12/07/26
...
3,710
3,659
L2199523.UP.FTS.B,
20.46%,
12/07/26
...
5,105
5,047
L2196447.UP.FTS.B,
20.62%,
12/07/26
...
6,034
5,951
L2196710.UP.FTS.B,
20.66%,
12/07/26
...
16,711
16,520
L2189118.UP.FTS.B,
20.67%,
12/07/26
...
2,785
2,738
L2197655.UP.FTS.B,
20.75%,
12/07/26
...
4,643
4,590
FW2197381.UP.FTS.B,
20.8%,
12/07/26
..
2,879
2,846
L2197561.UP.FTS.B,
20.81%,
12/07/26
...
4,643
4,590
L2197644.UP.FTS.B,
20.86%,
12/07/26
...
1,961
1,944
FW2199633.UP.FTS.B,
20.94%,
12/07/26
.
7,626
7,536
L2196726.UP.FTS.B,
21.07%,
12/07/26
...
21,886
21,575
L2197425.UP.FTS.B,
21.37%,
12/07/26
...
9,692
1,384
L2196680.UP.FTS.B,
21.47%,
12/07/26
...
5,729
5,631
L2195675.UP.FTS.B,
21.55%,
12/07/26
...
1,502
1,484
L2197631.UP.FTS.B,
21.55%,
12/07/26
...
4,185
4,115
FW2197941.UP.FTS.B,
21.75%,
12/07/26
.
8,575
2,448
L2196825.UP.FTS.B,
21.8%,
12/07/26
....
6,052
5,979
FW2198237.UP.FTS.B,
21.87%,
12/07/26
.
4,653
4,599
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
194
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
L2196775.UP.FTS.B,
22.04%,
12/07/26
...
$
931
$
915
FW2199825.UP.FTS.B,
22.12%,
12/07/26
.
1,862
1,841
L2196730.UP.FTS.B,
22.21%,
12/07/26
...
16,295
16,108
L2191085.UP.FTS.B,
22.33%,
12/07/26
...
3,047
3,011
L2199874.UP.FTS.B,
22.34%,
12/07/26
...
7,637
7,550
L2192706.UP.FTS.B,
22.47%,
12/07/26
...
9,316
9,209
L2197670.UP.FTS.B,
22.54%,
12/07/26
...
3,606
3,560
L2196119.UP.FTS.B,
22.75%,
12/07/26
...
4,660
4,607
L2185222.UP.FTS.B,
23.13%,
12/07/26
...
5,371
5,300
FW2200346.UP.FTS.B,
23.2%,
12/07/26
..
9,329
9,222
FW2196522.UP.FTS.B,
23.26%,
12/07/26
.
5,598
5,533
FW2199888.UP.FTS.B,
23.27%,
12/07/26
.
12,616
12,463
L2195799.UP.FTS.B,
23.37%,
12/07/26
...
11,311
11,158
FW2199894.UP.FTS.B,
23.38%,
12/07/26
.
7,465
7,380
L2198106.UP.FTS.B,
23.42%,
12/07/26
...
6,062
5,992
L2197006.UP.FTS.B,
23.53%,
12/07/26
...
4,816
706
FW2192438.UP.FTS.B,
23.66%,
12/07/26
.
11,203
11,075
L2197891.UP.FTS.B,
23.8%,
12/07/26
....
3,736
3,693
FW2197402.UP.FTS.B,
23.87%,
12/07/26
.
2,830
2,797
L2199092.UP.FTS.B,
23.9%,
12/07/26
....
5,489
5,414
L2198616.UP.FTS.B,
24.08%,
12/07/26
...
2,798
2,766
FW2195703.UP.FTS.B,
24.25%,
12/07/26
.
1,682
1,663
L2197316.UP.FTS.B,
24.32%,
12/07/26
...
3,273
236
FW2196745.UP.FTS.B,
24.4%,
12/07/26
..
5,581
5,515
FW2200190.UP.FTS.B,
24.4%,
12/07/26
..
2,337
2,310
L2196637.UP.FTS.B,
24.42%,
12/07/26
...
13,930
13,770
L2200210.UP.FTS.B,
24.56%,
12/07/26
...
18,703
18,388
FW2197268.UP.FTS.B,
24.6%,
12/07/26
..
4,917
351
L2196899.UP.FTS.B,
24.65%,
12/07/26
...
5,425
5,362
L2197090.UP.FTS.B,
24.84%,
12/07/26
...
4,854
4,790
L2200145.UP.FTS.B,
24.91%,
12/07/26
...
936
925
L2197252.UP.FTS.B,
24.97%,
12/07/26
...
997
984
L2199777.UP.FTS.B,
24.98%,
12/07/26
...
955
274
L2196714.UP.FTS.B,
25.02%,
12/07/26
...
2,996
2,961
L2196707.UP.FTS.B,
25.05%,
12/07/26
...
1,310
1,288
L2199551.UP.FTS.B,
25.05%,
12/07/26
...
1,966
1,933
L2199694.UP.FTS.B,
25.13%,
12/07/26
...
1,864
1,842
L2199866.UP.FTS.B,
25.14%,
12/07/26
...
1,146
329
L2195524.UP.FTS.B,
25.15%,
12/07/26
...
973
8
L2197866.UP.FTS.B,
25.16%,
12/07/26
...
5,025
2,986
L2195912.UP.FTS.B,
25.21%,
12/07/26
...
7,677
7,589
L2198146.UP.FTS.B,
25.25%,
12/07/26
...
1,966
1,944
L2196219.UP.FTS.B,
25.27%,
12/07/26
...
8,801
8,700
L2198919.UP.FTS.B,
25.27%,
12/07/26
...
2,000
1,189
L2198546.UP.FTS.B,
25.32%,
12/07/26
...
1,405
1,388
L2199586.UP.FTS.B,
25.33%,
12/07/26
...
1,031
1,019
L2199876.UP.FTS.B,
25.33%,
12/07/26
...
1,226
1,210
L2195664.UP.FTS.B,
25.4%,
12/07/26
....
686
672
L2199661.UP.FTS.B,
25.4%,
12/07/26
....
2,622
2,592
FW2200017.UP.FTS.B,
25.41%,
12/07/26
.
4,684
4,630
L2196685.UP.FTS.B,
25.41%,
12/07/26
...
5,767
5,698
L2198050.UP.FTS.B,
25.44%,
12/07/26
...
4,872
4,816
L2197183.UP.FTS.B,
25.46%,
12/07/26
...
1,592
1,574
L2197585.UP.FTS.B,
25.47%,
12/07/26
...
4,535
658
L2197844.UP.FTS.B,
25.47%,
12/07/26
...
5,172
5,111
L2198441.UP.FTS.B,
25.48%,
12/07/26
...
13,292
13,136
FW2195112.UP.FTS.B,
25.52%,
12/07/26
.
29,761
2,139
L2197791.UP.FTS.B,
25.56%,
12/07/26
...
3,329
1,979
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
FW2197368.UP.FTS.B,
25.58%,
12/07/26
.
$
9,368
$
9,260
L2199767.UP.FTS.B,
25.65%,
12/07/26
...
5,418
5,347
L2199814.UP.FTS.B,
25.68%,
12/07/26
...
5,622
5,557
FW2199624.UP.FTS.B,
25.75%,
12/07/26
.
9,388
9,275
L2193871.UP.FTS.B,
25.78%,
12/07/26
...
6,173
6,087
FW2199793.UP.FTS.B,
25.9%,
12/07/26
..
7,499
7,413
FW2199186.UP.FTS.B,
25.95%,
12/07/26
.
2,344
2,317
L2197375.UP.FTS.B,
26%,
12/07/26
.....
4,897
720
FW2196103.UP.FTS.B,
26.48%,
12/07/26
.
1,363
1,337
L2199268.UP.FTS.B,
26.54%,
12/07/26
...
4,773
121
FW2199829.UP.FTS.B,
26.64%,
12/07/26
.
1,689
1,661
L2200350.UP.FTS.B,
26.67%,
12/07/26
...
5,444
5,381
FW2195369.UP.FTS.B,
26.79%,
12/07/26
.
2,737
398
FW2199332.UP.FTS.B,
26.82%,
12/07/26
.
2,341
2,313
FW2195998.UP.FTS.B,
26.86%,
12/07/26
.
16,707
16,511
FW2195253.UP.FTS.B,
27.11%,
12/07/26
.
6,199
6,128
FW2197957.UP.FTS.B,
27.11%,
12/07/26
.
4,800
344
FW2195958.UP.FTS.B,
27.48%,
12/07/26
.
3,102
3,066
FW2196284.UP.FTS.B,
27.56%,
12/07/26
.
4,874
(3)
FW2200008.UP.FTS.B,
27.66%,
12/07/26
.
6,581
6,505
FW2198590.UP.FTS.B,
27.74%,
12/07/26
.
4,470
4,408
FW2199488.UP.FTS.B,
27.83%,
12/07/26
.
2,073
2,038
FW2198564.UP.FTS.B,
27.96%,
12/07/26
.
4,233
4,185
FW2195741.UP.FTS.B,
28.07%,
12/07/26
.
1,411
1,395
FW2198474.UP.FTS.B,
28.07%,
12/07/26
.
3,182
3,140
FW2200076.UP.FTS.B,
28.24%,
12/07/26
.
47,053
46,511
FW2198854.UP.FTS.B,
28.37%,
12/07/26
.
3,871
559
FW2200069.UP.FTS.B,
28.54%,
12/07/26
.
4,064
4,010
FW2200188.UP.FTS.B,
28.66%,
12/07/26
.
5,179
5,120
FW2198253.UP.FTS.B,
28.7%,
12/07/26
..
4,964
354
FW2126302.UP.FTS.B,
28.84%,
12/07/26
.
15,997
15,811
FW2197454.UP.FTS.B,
28.97%,
12/07/26
.
5,914
416
FW2198203.UP.FTS.B,
29.09%,
12/07/26
.
3,483
3,436
FW2198176.UP.FTS.B,
29.22%,
12/07/26
.
3,811
3,766
FW2196176.UP.FTS.B,
29.32%,
12/07/26
.
6,976
6,896
FW2196392.UP.FTS.B,
29.38%,
12/07/26
.
3,943
277
FW2186971.UP.FTS.B,
29.39%,
12/07/26
.
24,645
1,730
FW2195399.UP.FTS.B,
29.81%,
12/07/26
.
2,170
2,145
FW2197220.UP.FTS.B,
29.81%,
12/07/26
.
2,158
2,129
FW2198433.UP.FTS.B,
29.92%,
12/07/26
.
2,845
2,809
FW2198601.UP.FTS.B,
30.14%,
12/07/26
.
4,720
4,665
FW2199215.UP.FTS.B,
30.27%,
12/07/26
.
3,021
2,986
FW2197953.UP.FTS.B,
30.28%,
12/07/26
.
2,919
1,747
FW2195876.UP.FTS.B,
30.32%,
12/07/26
.
1,410
1,393
FW2198672.UP.FTS.B,
30.42%,
12/07/26
.
5,666
5,601
FW2196744.UP.FTS.B,
30.45%,
12/07/26
.
47,219
46,674
FW2198825.UP.FTS.B,
30.6%,
12/07/26
..
3,306
3,268
FW2199302.UP.FTS.B,
30.61%,
12/07/26
.
1,093
76
FW2199283.UP.FTS.B,
30.62%,
12/07/26
.
1,329
793
FW2197604.UP.FTS.B,
30.64%,
12/07/26
.
3,117
3,081
FW2198515.UP.FTS.B,
30.77%,
12/07/26
.
2,947
2,910
FW2199905.UP.FTS.B,
30.79%,
12/07/26
.
1,717
1,698
FW2199805.UP.FTS.B,
30.82%,
12/07/26
.
8,304
1,196
FW2198089.UP.FTS.B,
30.83%,
12/07/26
.
1,984
1,962
FW2197372.UP.FTS.B,
30.88%,
12/07/26
.
11,505
6,874
FW2195222.UP.FTS.B,
30.96%,
12/07/26
.
1,323
1,308
FW2197663.UP.FTS.B,
30.97%,
12/07/26
.
2,539
2,509
FW2197025.UP.FTS.B,
30.99%,
12/07/26
.
1,580
110
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
195
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
FW2198098.UP.FTS.B,
31%,
12/07/26
...
$
5,628
$
5,563
FW2196279.UP.FTS.B,
31.01%,
12/07/26
.
3,308
3,270
FW2198232.UP.FTS.B,
31.01%,
12/07/26
.
945
934
FW2170273.UP.FTS.B,
31.03%,
12/07/26
.
17,687
5,120
FW2195779.UP.FTS.B,
31.03%,
12/07/26
.
9,874
689
FW2199111.UP.FTS.B,
31.05%,
12/07/26
.
1,697
1,678
FW2198957.UP.FTS.B,
31.08%,
12/07/26
.
10,211
1,473
FW2197407.UP.FTS.B,
31.19%,
12/07/26
.
5,578
5,514
FW2196852.UP.FTS.B,
31.22%,
12/07/26
.
7,777
7,679
FW2198390.UP.FTS.B,
31.22%,
12/07/26
.
2,554
2,524
FW2200225.UP.FTS.B,
31.22%,
12/07/26
.
1,040
1,028
FW2197133.UP.FTS.B,
31.45%,
12/07/26
.
4,162
4,114
FW2198997.UP.FTS.B,
31.55%,
12/07/26
.
6,335
6,262
FW2195565.UP.FTS.B,
31.6%,
12/07/26
..
2,387
1,426
FW2200182.UP.FTS.B,
31.77%,
12/07/26
.
3,028
2,993
FW2197374.UP.FTS.B,
32.11%,
12/07/26
.
3,676
260
FW2198397.UP.FTS.B,
32.23%,
12/07/26
.
5,492
5,429
FW2199153.UP.FTS.B,
32.29%,
12/07/26
.
4,546
4,493
FW2199632.UP.FTS.B,
32.42%,
12/07/26
.
4,641
4,588
L2201511.UP.FTS.B,
5.03%,
12/08/26
....
10,885
10,843
L2201100.UP.FTS.B,
5.82%,
12/08/26
....
8,976
8,944
FW2201687.UP.FTS.B,
5.98%,
12/08/26
..
4,206
4,189
L2203382.UP.FTS.B,
6.5%,
12/08/26
....
8,992
8,960
L2203741.UP.FTS.B,
7.33%,
12/08/26
....
18,021
17,914
L2206413.UP.FTS.B,
7.44%,
12/08/26
....
8,112
8,064
L2201126.UP.FTS.B,
7.87%,
12/08/26
....
19,851
19,733
L2201251.UP.FTS.B,
8.29%,
12/08/26
....
18,066
17,959
L2200918.UP.FTS.B,
8.74%,
12/08/26
....
3,888
3,866
L2203118.UP.FTS.B,
8.78%,
12/08/26
....
7,078
7,036
L2202846.UP.FTS.B,
8.79%,
12/08/26
....
16,304
16,211
L2201288.UP.FTS.B,
9.13%,
12/08/26
....
2,987
2,970
L2206512.UP.FTS.B,
9.18%,
12/08/26
....
11,230
2,720
L2203530.UP.FTS.B,
9.65%,
12/08/26
....
18,777
18,663
L2197657.UP.FTS.B,
9.74%,
12/08/26
....
3,898
3,875
FW2202215.UP.FTS.B,
9.76%,
12/08/26
..
40,442
40,084
L2202140.UP.FTS.B,
10.05%,
12/08/26
...
3,442
3,412
L2202043.UP.FTS.B,
10.08%,
12/08/26
...
18,145
18,040
L2206922.UP.FTS.B,
10.23%,
12/08/26
...
17,978
17,840
L2205692.UP.FTS.B,
10.33%,
12/08/26
...
14,979
14,893
L2205203.UP.FTS.B,
10.54%,
12/08/26
...
17,856
17,696
L2203887.UP.FTS.B,
10.82%,
12/08/26
...
7,271
7,208
L2202359.UP.FTS.B,
10.96%,
12/08/26
...
3,273
3,254
L2205258.UP.FTS.B,
10.97%,
12/08/26
...
3,455
3,425
L2206221.UP.FTS.B,
10.99%,
12/08/26
...
2,728
2,704
L2202707.UP.FTS.B,
11.01%,
12/08/26
...
9,093
9,014
L2200873.UP.FTS.B,
11.09%,
12/08/26
...
8,185
8,114
L2205661.UP.FTS.B,
11.13%,
12/08/26
...
10,914
10,820
L2201926.UP.FTS.B,
11.2%,
12/08/26
....
1,819
1,809
FW2202691.UP.FTS.B,
11.21%,
12/08/26
.
2,729
2,713
L2204932.UP.FTS.B,
11.21%,
12/08/26
...
14,555
14,430
L2201522.UP.FTS.B,
11.25%,
12/08/26
...
18,195
18,039
L2200600.UP.FTS.B,
11.71%,
12/08/26
...
4,554
4,515
L2200051.UP.FTS.B,
11.78%,
12/08/26
...
9,656
9,573
L2204302.UP.FTS.B,
11.78%,
12/08/26
...
2,726
2,702
L2205067.UP.FTS.B,
11.79%,
12/08/26
...
10,931
10,837
FW2201210.UP.FTS.B,
12.48%,
12/08/26
.
1,825
1,809
L2201401.UP.FTS.B,
12.51%,
12/08/26
...
6,387
6,333
L2201130.UP.FTS.B,
12.56%,
12/08/26
...
4,912
4,869
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
FW2201048.UP.FTS.B,
12.71%,
12/08/26
.
$
10,747
$
10,652
L2201163.UP.FTS.B,
13.03%,
12/08/26
...
1,853
971
L2201683.UP.FTS.B,
13.05%,
12/08/26
...
2,741
2,717
L2201222.UP.FTS.B,
13.13%,
12/08/26
...
45,688
45,300
L2203910.UP.FTS.B,
13.18%,
12/08/26
...
10,510
10,420
L2202867.UP.FTS.B,
13.27%,
12/08/26
...
4,351
4,311
FW2206272.UP.FTS.B,
13.35%,
12/08/26
.
2,743
2,719
L2206693.UP.FTS.B,
13.43%,
12/08/26
...
3,219
3,192
L2206744.UP.FTS.B,
13.51%,
12/08/26
...
27,436
27,203
L2202159.UP.FTS.B,
13.54%,
12/08/26
...
22,865
22,739
L2206366.UP.FTS.B,
13.56%,
12/08/26
...
2,744
2,721
FW2201344.UP.FTS.B,
13.64%,
12/08/26
.
5,842
5,792
L2202534.UP.FTS.B,
13.68%,
12/08/26
...
13,723
13,607
L2203497.UP.FTS.B,
13.78%,
12/08/26
...
5,491
5,444
L2203117.UP.FTS.B,
13.79%,
12/08/26
...
7,870
7,803
FW2199867.UP.FTS.B,
13.82%,
12/08/26
.
13,794
13,681
L2203856.UP.FTS.B,
13.82%,
12/08/26
...
27,455
27,223
L2206839.UP.FTS.B,
13.97%,
12/08/26
...
9,173
9,098
L2200884.UP.FTS.B,
13.99%,
12/08/26
...
6,775
6,718
L2204734.UP.FTS.B,
13.99%,
12/08/26
...
3,385
3,357
L2189789.UP.FTS.B,
14.09%,
12/08/26
...
4,534
4,495
L2200815.UP.FTS.B,
14.17%,
12/08/26
...
2,285
2,265
L2200912.UP.FTS.B,
14.17%,
12/08/26
...
4,251
309
L2201701.UP.FTS.B,
14.19%,
12/08/26
...
6,411
6,357
L2200543.UP.FTS.B,
14.23%,
12/08/26
...
4,580
4,542
FW2206534.UP.FTS.B,
14.38%,
12/08/26
.
2,931
2,906
FW2201365.UP.FTS.B,
14.41%,
12/08/26
.
13,287
13,176
L2200506.UP.FTS.B,
14.67%,
12/08/26
...
5,501
5,455
L2205095.UP.FTS.B,
14.72%,
12/08/26
...
4,585
4,547
L2205970.UP.FTS.B,
14.78%,
12/08/26
...
2,468
2,448
L2203172.UP.FTS.B,
14.86%,
12/08/26
...
9,173
9,096
FW2203636.UP.FTS.B,
14.99%,
12/08/26
.
4,588
4,549
L2206074.UP.FTS.B,
15.01%,
12/08/26
...
6,757
1,719
L2206751.UP.FTS.B,
15.19%,
12/08/26
...
12,638
12,532
L2201429.UP.FTS.B,
15.27%,
12/08/26
...
10,980
10,887
L2201509.UP.FTS.B,
15.29%,
12/08/26
...
6,799
6,741
L2206457.UP.FTS.B,
15.3%,
12/08/26
....
450
445
L2203888.UP.FTS.B,
15.35%,
12/08/26
...
2,755
2,732
L2202868.UP.FTS.B,
15.36%,
12/08/26
...
22,958
22,766
L2196904.UP.FTS.B,
15.38%,
12/08/26
...
5,510
5,464
L2202058.UP.FTS.B,
15.4%,
12/08/26
....
2,755
2,720
L2201650.UP.FTS.B,
15.45%,
12/08/26
...
3,674
3,643
L2205821.UP.FTS.B,
15.65%,
12/08/26
...
7,450
3,908
L2205307.UP.FTS.B,
15.66%,
12/08/26
...
1,844
1,821
L2206519.UP.FTS.B,
15.66%,
12/08/26
...
4,713
1,256
L2193881.UP.FTS.B,
15.75%,
12/08/26
...
4,044
3,992
L2206087.UP.FTS.B,
15.8%,
12/08/26
....
1,932
75
L2200487.UP.FTS.B,
15.87%,
12/08/26
...
5,884
5,835
L2205432.UP.FTS.B,
15.94%,
12/08/26
...
22,848
22,557
L2205206.UP.FTS.B,
15.97%,
12/08/26
...
27,718
27,373
L2206448.UP.FTS.B,
16%,
12/08/26
.....
9,655
9,575
L2205436.UP.FTS.B,
16.02%,
12/08/26
...
25,984
25,652
L2195672.UP.FTS.B,
16.2%,
12/08/26
....
11,775
11,626
L2205672.UP.FTS.B,
16.4%,
12/08/26
....
23,044
22,857
L2202008.UP.FTS.B,
16.41%,
12/08/26
...
46,386
45,815
L2201272.UP.FTS.B,
16.5%,
12/08/26
....
4,586
4,547
L2202378.UP.FTS.B,
16.57%,
12/08/26
...
5,597
2,937
L2202979.UP.FTS.B,
16.63%,
12/08/26
...
1,842
1,826
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
196
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
L2203269.UP.FTS.B,
16.66%,
12/08/26
...
$
4,144
$
4,091
L2203656.UP.FTS.B,
16.77%,
12/08/26
...
2,579
2,558
L2205448.UP.FTS.B,
16.81%,
12/08/26
...
9,672
9,520
L2205367.UP.FTS.B,
16.83%,
12/08/26
...
2,865
2,829
L2205691.UP.FTS.B,
16.93%,
12/08/26
...
44,227
43,667
L2206760.UP.FTS.B,
17.01%,
12/08/26
...
41,766
41,253
FW2204874.UP.FTS.B,
17.03%,
12/08/26
.
9,216
9,071
L2200739.UP.FTS.B,
17.06%,
12/08/26
...
2,488
2,457
L2200406.UP.FTS.B,
17.28%,
12/08/26
...
4,057
4,006
L2202818.UP.FTS.B,
17.33%,
12/08/26
...
8,460
8,390
L2201984.UP.FTS.B,
17.35%,
12/08/26
...
5,932
5,854
L2204275.UP.FTS.B,
17.48%,
12/08/26
...
5,151
5,085
L2203876.UP.FTS.B,
17.53%,
12/08/26
...
20,296
20,040
L2202653.UP.FTS.B,
17.59%,
12/08/26
...
11,441
11,297
L2203323.UP.FTS.B,
17.63%,
12/08/26
...
4,152
4,118
L2200549.UP.FTS.B,
17.67%,
12/08/26
...
3,827
540
L2200437.UP.FTS.B,
17.72%,
12/08/26
...
2,307
2,271
L2202435.UP.FTS.B,
17.87%,
12/08/26
...
4,616
4,544
L2206114.UP.FTS.B,
17.92%,
12/08/26
...
1,847
1,823
L2201870.UP.FTS.B,
17.98%,
12/08/26
...
2,770
2,727
L2201314.UP.FTS.B,
18.04%,
12/08/26
...
4,618
4,560
L2203381.UP.FTS.B,
18.04%,
12/08/26
...
9,697
9,575
L2202238.UP.FTS.B,
18.11%,
12/08/26
...
12,007
11,856
L2198222.UP.FTS.B,
18.15%,
12/08/26
...
3,325
3,273
L2200530.UP.FTS.B,
18.44%,
12/08/26
...
8,319
8,214
FW2200514.UP.FTS.B,
18.68%,
12/08/26
.
9,193
9,048
L2202092.UP.FTS.B,
18.74%,
12/08/26
...
4,681
2,677
L2202316.UP.FTS.B,
18.78%,
12/08/26
...
2,312
2,276
FW2201324.UP.FTS.B,
18.84%,
12/08/26
.
4,519
4,446
L2203614.UP.FTS.B,
18.9%,
12/08/26
....
13,612
13,394
FW2203630.UP.FTS.B,
18.91%,
12/08/26
.
9,247
9,103
L2201012.UP.FTS.B,
19.03%,
12/08/26
...
46,268
45,546
L2202526.UP.FTS.B,
19.03%,
12/08/26
...
9,254
9,179
FW2204149.UP.FTS.B,
19.13%,
12/08/26
.
4,630
4,558
FW2201703.UP.FTS.B,
19.15%,
12/08/26
.
3,233
3,182
L2171699.UP.FTS.B,
19.26%,
12/08/26
...
9,261
9,167
FW2201480.UP.FTS.B,
19.28%,
12/08/26
.
6,481
6,400
L2198227.UP.FTS.B,
19.34%,
12/08/26
...
1,835
1,811
FW2206855.UP.FTS.B,
19.38%,
12/08/26
.
4,630
4,593
L2204746.UP.FTS.B,
19.38%,
12/08/26
...
7,661
1,098
L2204805.UP.FTS.B,
19.42%,
12/08/26
...
9,909
9,755
L2200609.UP.FTS.B,
19.43%,
12/08/26
...
4,687
2,680
L2205829.UP.FTS.B,
19.56%,
12/08/26
...
9,589
1,374
L2203740.UP.FTS.B,
19.62%,
12/08/26
...
2,225
2,190
L2204012.UP.FTS.B,
19.62%,
12/08/26
...
2,892
2,857
L2200814.UP.FTS.B,
19.64%,
12/08/26
...
5,096
5,016
L2201833.UP.FTS.B,
19.78%,
12/08/26
...
4,631
4,558
L2200534.UP.FTS.B,
19.8%,
12/08/26
....
7,414
7,299
L2203346.UP.FTS.B,
19.86%,
12/08/26
...
5,932
5,858
L2203970.UP.FTS.B,
19.89%,
12/08/26
...
2,039
2,008
L2203336.UP.FTS.B,
19.94%,
12/08/26
...
3,045
2,997
FW2185665.UP.FTS.B,
20.17%,
12/08/26
.
13,881
13,706
L2200446.UP.FTS.B,
20.19%,
12/08/26
...
1,020
1,004
FW2202220.UP.FTS.B,
20.45%,
12/08/26
.
18,560
18,372
L2198053.UP.FTS.B,
20.47%,
12/08/26
...
3,532
3,478
L2200528.UP.FTS.B,
20.47%,
12/08/26
...
3,248
3,198
L2201790.UP.FTS.B,
20.6%,
12/08/26
....
2,599
2,559
L2204504.UP.FTS.B,
20.62%,
12/08/26
...
9,225
9,128
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
L2200990.UP.FTS.B,
20.63%,
12/08/26
...
$
15,781
$
15,536
L2203837.UP.FTS.B,
20.89%,
12/08/26
...
11,145
11,033
FW2201941.UP.FTS.B,
20.91%,
12/08/26
.
3,715
3,669
FW2201844.UP.FTS.B,
20.97%,
12/08/26
.
3,512
3,443
L2202584.UP.FTS.B,
20.98%,
12/08/26
...
6,969
6,861
FW2205623.UP.FTS.B,
21.01%,
12/08/26
.
10,219
10,116
FW2203254.UP.FTS.B,
21.1%,
12/08/26
..
6,504
6,403
L2203340.UP.FTS.B,
21.11%,
12/08/26
...
4,622
4,573
L2202911.UP.FTS.B,
21.13%,
12/08/26
...
6,021
5,927
L2197968.UP.FTS.B,
21.14%,
12/08/26
...
1,295
1,273
L2203189.UP.FTS.B,
21.23%,
12/08/26
...
17,043
9,771
L2201499.UP.FTS.B,
21.34%,
12/08/26
...
10,225
10,122
L2203266.UP.FTS.B,
21.37%,
12/08/26
...
4,648
4,601
L2203685.UP.FTS.B,
21.52%,
12/08/26
...
3,255
3,222
L2207000.UP.FTS.B,
21.53%,
12/08/26
...
18,599
18,310
L2206634.UP.FTS.B,
21.58%,
12/08/26
...
2,046
2,025
L2200366.UP.FTS.B,
21.62%,
12/08/26
...
14,362
4,113
FW2206963.UP.FTS.B,
21.68%,
12/08/26
.
4,655
4,583
FW2201720.UP.FTS.B,
21.75%,
12/08/26
.
9,612
1,374
L2206461.UP.FTS.B,
21.8%,
12/08/26
....
3,257
3,224
FW2200309.UP.FTS.B,
21.86%,
12/08/26
.
3,350
3,316
FW2204080.UP.FTS.B,
22.08%,
12/08/26
.
6,890
6,821
L2200826.UP.FTS.B,
22.16%,
12/08/26
...
9,311
9,217
FW2205781.UP.FTS.B,
22.27%,
12/08/26
.
46,761
46,274
L2204816.UP.FTS.B,
22.27%,
12/08/26
...
9,004
8,856
FW2202543.UP.FTS.B,
22.46%,
12/08/26
.
1,770
1,743
L2200624.UP.FTS.B,
22.5%,
12/08/26
....
1,863
1,834
L2169853.UP.FTS.B,
22.52%,
12/08/26
...
4,658
4,612
L2201593.UP.FTS.B,
22.58%,
12/08/26
...
9,318
9,224
L2204327.UP.FTS.B,
22.78%,
12/08/26
...
7,271
7,198
L2205746.UP.FTS.B,
22.84%,
12/08/26
...
1,263
22
FW2202576.UP.FTS.B,
22.89%,
12/08/26
.
7,458
7,384
L2201275.UP.FTS.B,
22.92%,
12/08/26
...
3,604
3,562
L2203293.UP.FTS.B,
22.93%,
12/08/26
...
1,585
1,561
FW2203667.UP.FTS.B,
23.01%,
12/08/26
.
13,988
13,848
L2204605.UP.FTS.B,
23.02%,
12/08/26
...
4,663
4,616
L2202315.UP.FTS.B,
23.12%,
12/08/26
...
3,658
3,619
FW2201818.UP.FTS.B,
23.31%,
12/08/26
.
2,799
2,771
L2203120.UP.FTS.B,
23.47%,
12/08/26
...
4,718
2,803
FW2206671.UP.FTS.B,
23.5%,
12/08/26
..
2,333
2,310
L2201018.UP.FTS.B,
23.52%,
12/08/26
...
4,667
4,620
L2204624.UP.FTS.B,
23.54%,
12/08/26
...
18,669
18,482
L2203557.UP.FTS.B,
23.55%,
12/08/26
...
1,556
1,535
L2204118.UP.FTS.B,
23.56%,
12/08/26
...
15,948
15,783
L2200929.UP.FTS.B,
23.61%,
12/08/26
...
2,343
2,319
L2205223.UP.FTS.B,
23.62%,
12/08/26
...
4,668
4,621
L2200784.UP.FTS.B,
23.63%,
12/08/26
...
9,328
9,235
L2197277.UP.FTS.B,
23.68%,
12/08/26
...
6,069
6,008
L2200754.UP.FTS.B,
23.68%,
12/08/26
...
24,304
354
L2197979.UP.FTS.B,
23.7%,
12/08/26
....
3,726
3,689
L2205882.UP.FTS.B,
23.83%,
12/08/26
...
2,802
2,767
L2204897.UP.FTS.B,
23.87%,
12/08/26
...
24,915
24,603
FW2200085.UP.FTS.B,
23.88%,
12/08/26
.
2,802
2,774
L2169986.UP.FTS.B,
24.03%,
12/08/26
...
14,014
13,874
FW2202739.UP.FTS.B,
24.09%,
12/08/26
.
2,242
2,220
L2205789.UP.FTS.B,
24.11%,
12/08/26
...
5,606
5,550
L2205964.UP.FTS.B,
24.11%,
12/08/26
...
2,616
2,590
L2200886.UP.FTS.B,
24.19%,
12/08/26
...
4,698
4,627
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
197
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
FW2200940.UP.FTS.B,
24.2%,
12/08/26
..
$
1,182
$
1,163
L2203589.UP.FTS.B,
24.35%,
12/08/26
...
4,619
4,571
L2201603.UP.FTS.B,
24.38%,
12/08/26
...
4,674
4,628
L2199578.UP.FTS.B,
24.39%,
12/08/26
...
1,496
1,473
FW2206202.UP.FTS.B,
24.48%,
12/08/26
.
1,908
548
L2204440.UP.FTS.B,
24.51%,
12/08/26
...
1,122
1,111
L2203333.UP.FTS.B,
24.53%,
12/08/26
...
2,618
2,592
L2200752.UP.FTS.B,
24.63%,
12/08/26
...
935
926
FW2202542.UP.FTS.B,
24.64%,
12/08/26
.
4,184
4,141
FW2200668.UP.FTS.B,
24.66%,
12/08/26
.
11,692
11,575
L2201796.UP.FTS.B,
24.67%,
12/08/26
...
9,453
5,624
L2205328.UP.FTS.B,
24.68%,
12/08/26
...
1,873
1,853
FW2198942.UP.FTS.B,
24.77%,
12/08/26
.
17,986
17,803
L2200911.UP.FTS.B,
24.82%,
12/08/26
...
4,475
4,422
L2205953.UP.FTS.B,
24.83%,
12/08/26
...
2,780
2,727
FW2200947.UP.FTS.B,
24.84%,
12/08/26
.
4,210
4,168
L2201876.UP.FTS.B,
24.84%,
12/08/26
...
1,029
1,019
L2205138.UP.FTS.B,
24.86%,
12/08/26
...
3,223
3,185
L2204697.UP.FTS.B,
24.89%,
12/08/26
...
18,714
18,527
L2198801.UP.FTS.B,
24.91%,
12/08/26
...
2,807
2,779
L2200418.UP.FTS.B,
24.91%,
12/08/26
...
7,164
7,052
L2201388.UP.FTS.B,
24.93%,
12/08/26
...
2,798
2,770
L2201658.UP.FTS.B,
24.93%,
12/08/26
...
1,217
1,198
L2200868.UP.FTS.B,
24.96%,
12/08/26
...
2,518
2,488
L2205812.UP.FTS.B,
24.97%,
12/08/26
...
3,307
3,275
L2206379.UP.FTS.B,
24.97%,
12/08/26
...
6,109
6,030
L2201301.UP.FTS.B,
25.03%,
12/08/26
...
4,101
4,060
L2203217.UP.FTS.B,
25.16%,
12/08/26
...
1,030
1,020
L2202329.UP.FTS.B,
25.17%,
12/08/26
...
2,323
2,294
L2198735.UP.FTS.B,
25.18%,
12/08/26
...
6,711
6,644
L2203757.UP.FTS.B,
25.2%,
12/08/26
....
2,758
794
L2205039.UP.FTS.B,
25.2%,
12/08/26
....
3,184
3,135
L2202422.UP.FTS.B,
25.21%,
12/08/26
...
3,340
3,301
L2201763.UP.FTS.B,
25.22%,
12/08/26
...
6,502
6,426
L2203014.UP.FTS.B,
25.25%,
12/08/26
...
4,681
4,635
L2203187.UP.FTS.B,
25.25%,
12/08/26
...
3,652
3,615
L2203545.UP.FTS.B,
25.27%,
12/08/26
...
1,686
1,669
L2201547.UP.FTS.B,
25.28%,
12/08/26
...
2,341
2,318
L2205603.UP.FTS.B,
25.29%,
12/08/26
...
6,851
1,963
L2204236.UP.FTS.B,
25.3%,
12/08/26
....
5,795
5,733
L2205000.UP.FTS.B,
25.31%,
12/08/26
...
937
925
L2203159.UP.FTS.B,
25.32%,
12/08/26
...
13,838
13,630
L2202447.UP.FTS.B,
25.34%,
12/08/26
...
1,889
1,870
L2201267.UP.FTS.B,
25.35%,
12/08/26
...
1,123
1,111
L2207019.UP.FTS.B,
25.36%,
12/08/26
...
1,579
1,559
L2203473.UP.FTS.B,
25.37%,
12/08/26
...
2,065
2,033
L2206798.UP.FTS.B,
25.37%,
12/08/26
...
3,241
1,938
L2204385.UP.FTS.B,
25.38%,
12/08/26
...
1,124
1,113
L2204638.UP.FTS.B,
25.39%,
12/08/26
...
2,998
2,968
L2201233.UP.FTS.B,
25.4%,
12/08/26
....
3,203
13
L2203646.UP.FTS.B,
25.41%,
12/08/26
...
1,030
1,015
L2204272.UP.FTS.B,
25.42%,
12/08/26
...
1,523
1,505
L2201606.UP.FTS.B,
25.43%,
12/08/26
...
2,529
2,504
L2200684.UP.FTS.B,
25.47%,
12/08/26
...
4,402
4,359
L2201578.UP.FTS.B,
25.47%,
12/08/26
...
19,896
2,918
L2200539.UP.FTS.B,
25.48%,
12/08/26
...
5,058
5,008
L2202562.UP.FTS.B,
25.48%,
12/08/26
...
1,178
173
L2200596.UP.FTS.B,
25.49%,
12/08/26
...
9,742
9,645
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
L2174737.UP.FTS.B,
25.5%,
12/08/26
....
$
7,044
$
2,031
L2202382.UP.FTS.B,
25.5%,
12/08/26
....
1,686
1,669
L2205914.UP.FTS.B,
25.51%,
12/08/26
...
2,075
305
FW2201944.UP.FTS.B,
25.52%,
12/08/26
.
4,728
4,681
L2204469.UP.FTS.B,
25.55%,
12/08/26
...
2,915
2,885
FW2205017.UP.FTS.B,
25.6%,
12/08/26
..
8,600
5,127
L2204916.UP.FTS.B,
25.63%,
12/08/26
...
9,369
9,276
L2206619.UP.FTS.B,
25.63%,
12/08/26
...
7,027
6,957
FW2202148.UP.FTS.B,
25.64%,
12/08/26
.
2,343
2,320
L2201626.UP.FTS.B,
25.65%,
12/08/26
...
5,997
5,937
L2201840.UP.FTS.B,
25.74%,
12/08/26
...
31,189
8,976
FW2203682.UP.FTS.B,
25.75%,
12/08/26
.
1,515
902
L2204844.UP.FTS.B,
25.75%,
12/08/26
...
2,970
1,772
FW2202207.UP.FTS.B,
25.82%,
12/08/26
.
10,020
9,920
L2206615.UP.FTS.B,
25.87%,
12/08/26
...
13,557
13,420
FW2201315.UP.FTS.B,
25.9%,
12/08/26
..
9,559
2,752
FW2202260.UP.FTS.B,
25.91%,
12/08/26
.
1,159
169
L2200110.UP.FTS.B,
25.93%,
12/08/26
...
7,031
6,961
L2205529.UP.FTS.B,
25.96%,
12/08/26
...
6,562
6,497
FW2202648.UP.FTS.B,
26.05%,
12/08/26
.
7,461
7,385
L2200501.UP.FTS.B,
26.06%,
12/08/26
...
2,063
2,042
FW2205423.UP.FTS.B,
26.22%,
12/08/26
.
5,627
5,571
L2201160.UP.FTS.B,
26.24%,
12/08/26
...
4,428
4,377
FW2201661.UP.FTS.B,
26.35%,
12/08/26
.
14,071
13,932
FW2204619.UP.FTS.B,
26.36%,
12/08/26
.
2,345
2,322
L2200760.UP.FTS.B,
26.49%,
12/08/26
...
10,322
10,220
L2203179.UP.FTS.B,
26.54%,
12/08/26
...
3,754
3,716
L2206371.UP.FTS.B,
26.6%,
12/08/26
....
2,392
692
FW2201816.UP.FTS.B,
26.65%,
12/08/26
.
4,306
4,263
L2200890.UP.FTS.B,
26.66%,
12/08/26
...
4,305
1,249
L2203211.UP.FTS.B,
26.69%,
12/08/26
...
10,106
10,005
FW2205293.UP.FTS.B,
26.73%,
12/08/26
.
3,755
3,718
FW2205905.UP.FTS.B,
26.96%,
12/08/26
.
1,893
1,130
FW2205802.UP.FTS.B,
27%,
12/08/26
...
3,319
3,287
FW2205878.UP.FTS.B,
27.25%,
12/08/26
.
1,879
1,861
FW2206543.UP.FTS.B,
27.33%,
12/08/26
.
29,241
28
FW2200840.UP.FTS.B,
27.39%,
12/08/26
.
7,894
7,816
FW2205131.UP.FTS.B,
27.64%,
12/08/26
.
2,914
2,886
FW2202637.UP.FTS.B,
27.67%,
12/08/26
.
10,342
10,240
FW2204516.UP.FTS.B,
27.99%,
12/08/26
.
4,686
4,639
FW2205704.UP.FTS.B,
28.05%,
12/08/26
.
4,704
4,658
FW2206331.UP.FTS.B,
28.09%,
12/08/26
.
9,879
9,782
FW2206860.UP.FTS.B,
28.2%,
12/08/26
..
3,294
3,261
FW2205370.UP.FTS.B,
28.26%,
12/08/26
.
6,177
6,116
FW2200263.UP.FTS.B,
28.29%,
12/08/26
.
16,941
16,774
FW2202084.UP.FTS.B,
28.33%,
12/08/26
.
1,412
1,398
FW2205052.UP.FTS.B,
28.38%,
12/08/26
.
24,421
1,742
FW2206080.UP.FTS.B,
28.43%,
12/08/26
.
3,291
3,258
FW2205751.UP.FTS.B,
28.59%,
12/08/26
.
1,131
1,119
FW2199479.UP.FTS.B,
28.66%,
12/08/26
.
14,126
13,987
FW2196644.UP.FTS.B,
28.68%,
12/08/26
.
3,330
1,989
FW2202805.UP.FTS.B,
28.71%,
12/08/26
.
2,517
365
FW2202420.UP.FTS.B,
28.72%,
12/08/26
.
4,565
4,513
FW2203128.UP.FTS.B,
28.72%,
12/08/26
.
941
931
FW2203565.UP.FTS.B,
28.72%,
12/08/26
.
8,200
577
FW2201764.UP.FTS.B,
28.73%,
12/08/26
.
8,781
(38)
FW2200463.UP.FTS.B,
28.91%,
12/08/26
.
1,131
1,119
FW2206016.UP.FTS.B,
28.92%,
12/08/26
.
3,700
3,653
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
198
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
FW2205304.UP.FTS.B,
28.97%,
12/08/26
.
$
1,971
$
139
FW2201925.UP.FTS.B,
29.05%,
12/08/26
.
1,231
1,215
FW2200712.UP.FTS.B,
29.25%,
12/08/26
.
2,846
2,818
FW2195267.UP.FTS.B,
29.27%,
12/08/26
.
6,975
6,907
FW2205727.UP.FTS.B,
29.33%,
12/08/26
.
10,390
10,283
FW2204212.UP.FTS.B,
29.48%,
12/08/26
.
15,370
15,220
FW2202312.UP.FTS.B,
29.54%,
12/08/26
.
6,720
1,945
FW2203404.UP.FTS.B,
29.65%,
12/08/26
.
1,881
1,862
FW2201641.UP.FTS.B,
29.67%,
12/08/26
.
7,735
7,659
FW2206862.UP.FTS.B,
29.87%,
12/08/26
.
4,529
4,485
FW2202455.UP.FTS.B,
29.91%,
12/08/26
.
2,887
1,721
FW2200914.UP.FTS.B,
29.96%,
12/08/26
.
16,579
16,336
FW2199020.UP.FTS.B,
29.97%,
12/08/26
.
9,063
8,975
FW2204135.UP.FTS.B,
30.05%,
12/08/26
.
4,803
1,391
FW2202975.UP.FTS.B,
30.2%,
12/08/26
..
3,243
3,211
FW2201513.UP.FTS.B,
30.22%,
12/08/26
.
1,605
1,589
FW2205595.UP.FTS.B,
30.3%,
12/08/26
..
4,035
1,169
FW2204427.UP.FTS.B,
30.34%,
12/08/26
.
7,554
7,480
FW2203423.UP.FTS.B,
30.49%,
12/08/26
.
944
935
FW2201341.UP.FTS.B,
30.5%,
12/08/26
..
9,505
9,412
FW2204255.UP.FTS.B,
30.54%,
12/08/26
.
1,511
1,497
FW2202866.UP.FTS.B,
30.6%,
12/08/26
..
1,039
1,029
FW2204565.UP.FTS.B,
30.62%,
12/08/26
.
5,239
3,135
FW2205951.UP.FTS.B,
30.74%,
12/08/26
.
47,339
46,859
FW2200422.UP.FTS.B,
30.75%,
12/08/26
.
6,614
6,550
FW2200654.UP.FTS.B,
30.75%,
12/08/26
.
3,280
1,966
FW2206664.UP.FTS.B,
30.81%,
12/08/26
.
332
326
FW2203485.UP.FTS.B,
30.82%,
12/08/26
.
1,505
454
FW2205386.UP.FTS.B,
30.87%,
12/08/26
.
9,259
9,160
FW2197539.UP.FTS.B,
30.89%,
12/08/26
.
5,670
5,615
FW2200519.UP.FTS.B,
30.9%,
12/08/26
..
1,673
117
FW2200882.UP.FTS.B,
30.9%,
12/08/26
..
1,270
(16)
FW2201735.UP.FTS.B,
30.95%,
12/08/26
.
1,134
1,123
FW2200744.UP.FTS.B,
30.97%,
12/08/26
.
4,787
2,875
FW2202156.UP.FTS.B,
31.02%,
12/08/26
.
1,154
335
FW2201142.UP.FTS.B,
31.05%,
12/08/26
.
945
936
FW2201216.UP.FTS.B,
31.06%,
12/08/26
.
2,395
2,372
FW2202624.UP.FTS.B,
31.06%,
12/08/26
.
2,174
2,153
FW2203290.UP.FTS.B,
31.07%,
12/08/26
.
1,323
1,311
FW2206683.UP.FTS.B,
31.07%,
12/08/26
.
1,971
1,950
FW2201843.UP.FTS.B,
31.08%,
12/08/26
.
1,607
1,591
FW2205002.UP.FTS.B,
31.08%,
12/08/26
.
2,931
2,902
FW2202334.UP.FTS.B,
31.12%,
12/08/26
.
3,492
504
FW2200524.UP.FTS.B,
31.14%,
12/08/26
.
6,568
3,917
FW2200460.UP.FTS.B,
31.17%,
12/08/26
.
441
434
FW2201347.UP.FTS.B,
31.17%,
12/08/26
.
2,409
1,440
FW2199311.UP.FTS.B,
31.18%,
12/08/26
.
1,324
1,311
FW2205181.UP.FTS.B,
31.19%,
12/08/26
.
1,985
1,966
FW2200444.UP.FTS.B,
31.21%,
12/08/26
.
3,705
3,669
FW2201322.UP.FTS.B,
31.21%,
12/08/26
.
2,627
764
FW2202038.UP.FTS.B,
31.21%,
12/08/26
.
8,824
616
FW2203796.UP.FTS.B,
31.21%,
12/08/26
.
6,129
6,069
FW2199452.UP.FTS.B,
31.24%,
12/08/26
.
946
936
FW2201772.UP.FTS.B,
31.27%,
12/08/26
.
5,201
5,150
FW2140186.UP.FTS.B,
31.28%,
12/08/26
.
4,397
(61)
FW2200618.UP.FTS.B,
31.33%,
12/08/26
.
1,444
101
FW2203252.UP.FTS.B,
31.37%,
12/08/26
.
3,420
3,381
FW2203711.UP.FTS.B,
31.37%,
12/08/26
.
9,079
8,991
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
FW2202425.UP.FTS.B,
31.38%,
12/08/26
.
$
3,310
$
3,278
FW2200697.UP.FTS.B,
31.46%,
12/08/26
.
3,298
3,266
FW2201710.UP.FTS.B,
31.5%,
12/08/26
..
4,731
4,685
FW2199126.UP.FTS.B,
31.54%,
12/08/26
.
5,865
5,808
FW2202345.UP.FTS.B,
31.56%,
12/08/26
.
4,041
1,173
FW2201498.UP.FTS.B,
31.9%,
12/08/26
..
5,963
5,905
FW2203562.UP.FTS.B,
32.34%,
12/08/26
.
5,683
5,628
FW2200977.UP.FTS.B,
32.46%,
12/08/26
.
5,378
(98)
FW2411209.UP.FTS.B,
5.24%,
1/11/27
...
18,223
18,159
L2411009.UP.FTS.B,
5.26%,
1/11/27
.....
31,891
31,780
FW2412321.UP.FTS.B,
5.36%,
1/11/27
...
45,570
45,410
L2411377.UP.FTS.B,
5.48%,
1/11/27
.....
4,000
294
L2408655.UP.FTS.B,
5.7%,
1/11/27
......
19,245
19,178
L2409091.UP.FTS.B,
5.78%,
1/11/27
.....
2,007
2,000
L2402399.UP.FTS.B,
6.09%,
1/11/27
.....
24,738
24,652
FW2408524.UP.FTS.B,
6.18%,
1/11/27
...
9,861
9,827
L2413519.UP.FTS.B,
6.19%,
1/11/27
.....
22,826
22,747
FW2411884.UP.FTS.B,
6.2%,
1/11/27
....
22,827
22,748
L2411685.UP.FTS.B,
7.25%,
1/11/27
.....
13,727
13,648
L2411160.UP.FTS.B,
7.26%,
1/11/27
.....
13,728
13,680
FW2406810.UP.FTS.B,
7.3%,
1/11/27
....
5,812
5,791
L2410292.UP.FTS.B,
7.3%,
1/11/27
......
3,837
3,815
L2411745.UP.FTS.B,
7.47%,
1/11/27
.....
6,409
6,372
L2408178.UP.FTS.B,
7.59%,
1/11/27
.....
18,317
18,211
L2408660.UP.FTS.B,
7.61%,
1/11/27
.....
6,320
6,283
L2412468.UP.FTS.B,
7.67%,
1/11/27
.....
39,388
39,161
L2412785.UP.FTS.B,
7.81%,
1/11/27
.....
1,833
1,822
L2412559.UP.FTS.B,
7.83%,
1/11/27
.....
4,527
4,498
L2408557.UP.FTS.B,
7.86%,
1/11/27
.....
4,582
4,555
L2407811.UP.FTS.B,
7.94%,
1/11/27
.....
7,339
7,298
L2412462.UP.FTS.B,
7.99%,
1/11/27
.....
3,208
3,190
L2412874.UP.FTS.B,
8.03%,
1/11/27
.....
6,271
6,233
L2413039.UP.FTS.B,
8.03%,
1/11/27
.....
13,750
13,671
L2412920.UP.FTS.B,
8.25%,
1/11/27
.....
13,757
13,677
FW2407114.UP.FTS.B,
8.36%,
1/11/27
...
11,342
2,742
L2412901.UP.FTS.B,
8.44%,
1/11/27
.....
13,740
13,660
L2410004.UP.FTS.B,
8.45%,
1/11/27
.....
8,808
8,757
L2410102.UP.FTS.B,
8.56%,
1/11/27
.....
3,212
3,194
L2410384.UP.FTS.B,
8.56%,
1/11/27
.....
19,823
19,709
FW2413850.UP.FTS.B,
8.58%,
1/11/27
...
9,820
9,763
L2413727.UP.FTS.B,
8.61%,
1/11/27
.....
3,947
3,924
L2409419.UP.FTS.B,
8.66%,
1/11/27
.....
9,179
9,126
L2412142.UP.FTS.B,
8.74%,
1/11/27
.....
15,515
15,426
FW2410081.UP.FTS.B,
8.78%,
1/11/27
...
16,527
16,432
L2413256.UP.FTS.B,
8.78%,
1/11/27
.....
16,527
16,431
FW2413835.UP.FTS.B,
8.81%,
1/11/27
...
10,100
10,042
FW2409381.UP.FTS.B,
8.85%,
1/11/27
...
4,132
4,108
L2407187.UP.FTS.B,
8.85%,
1/11/27
.....
4,603
4,578
L2413316.UP.FTS.B,
8.98%,
1/11/27
.....
11,046
10,985
FW2411415.UP.FTS.B,
9.04%,
1/11/27
...
6,319
6,281
FW2413111.UP.FTS.B,
9.07%,
1/11/27
...
7,329
7,286
FW2411385.UP.FTS.B,
9.23%,
1/11/27
...
8,271
8,223
L2405469.UP.FTS.B,
9.26%,
1/11/27
.....
7,278
7,235
L2411758.UP.FTS.B,
9.34%,
1/11/27
.....
1,096
1,088
FW2413046.UP.FTS.B,
9.47%,
1/11/27
...
6,566
6,524
L2408994.UP.FTS.B,
9.47%,
1/11/27
.....
6,896
6,856
L2410685.UP.FTS.B,
9.48%,
1/11/27
.....
8,276
8,228
L2408154.UP.FTS.B,
9.67%,
1/11/27
.....
13,365
13,292
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
199
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
L2412775.UP.FTS.B,
9.82%,
1/11/27
.....
$
22,568
$
22,370
FW2406985.UP.FTS.B,
9.83%,
1/11/27
...
2,760
2,745
L2412433.UP.FTS.B,
9.93%,
1/11/27
.....
7,823
7,757
L2404630.UP.FTS.B,
10.03%,
1/11/27
....
46,027
45,762
L2407014.UP.FTS.B,
10.08%,
1/11/27
....
10,465
759
L2411759.UP.FTS.B,
10.11%,
1/11/27
....
20,191
20,074
L2411458.UP.FTS.B,
10.12%,
1/11/27
....
2,026
2,014
L2411928.UP.FTS.B,
10.18%,
1/11/27
....
4,604
4,565
L2408600.UP.FTS.B,
10.21%,
1/11/27
....
3,950
3,916
L2411339.UP.FTS.B,
10.23%,
1/11/27
....
13,813
13,734
L2408318.UP.FTS.B,
10.27%,
1/11/27
....
3,684
3,653
FW2412294.UP.FTS.B,
10.3%,
1/11/27
...
4,738
1,189
L2412184.UP.FTS.B,
10.32%,
1/11/27
....
2,843
714
L2413945.UP.FTS.B,
10.53%,
1/11/27
....
20,272
20,100
FW2410236.UP.FTS.B,
10.56%,
1/11/27
..
2,857
2,833
L2411092.UP.FTS.B,
10.65%,
1/11/27
....
8,785
8,713
L2411410.UP.FTS.B,
10.67%,
1/11/27
....
180
178
L2411539.UP.FTS.B,
10.75%,
1/11/27
....
5,819
794
L2411021.UP.FTS.B,
10.83%,
1/11/27
....
7,367
7,324
FW2412113.UP.FTS.B,
10.85%,
1/11/27
..
23,051
22,856
L2411940.UP.FTS.B,
10.86%,
1/11/27
....
2,029
2,011
L2409581.UP.FTS.B,
10.9%,
1/11/27
.....
9,355
4,897
L2411297.UP.FTS.B,
10.9%,
1/11/27
.....
8,207
8,138
L2413322.UP.FTS.B,
10.93%,
1/11/27
....
9,776
9,693
L2409346.UP.FTS.B,
10.95%,
1/11/27
....
13,834
13,717
L2413229.UP.FTS.B,
11.26%,
1/11/27
....
16,570
16,429
L2406699.UP.FTS.B,
11.27%,
1/11/27
....
4,212
2,205
L2410736.UP.FTS.B,
11.27%,
1/11/27
....
10,231
575
L2407799.UP.FTS.B,
11.35%,
1/11/27
....
11,076
10,982
FW2413104.UP.FTS.B,
11.4%,
1/11/27
...
11,055
10,961
FW2409223.UP.FTS.B,
11.43%,
1/11/27
..
1,939
1,922
L2410182.UP.FTS.B,
11.47%,
1/11/27
....
14,317
14,207
L2411571.UP.FTS.B,
11.47%,
1/11/27
....
7,214
7,150
L2413044.UP.FTS.B,
11.78%,
1/11/27
....
7,390
7,328
L2410361.UP.FTS.B,
11.82%,
1/11/27
....
10,162
10,076
FW2408471.UP.FTS.B,
11.94%,
1/11/27
..
5,544
5,497
L2405206.UP.FTS.B,
12.1%,
1/11/27
.....
22,243
22,061
L2413627.UP.FTS.B,
12.33%,
1/11/27
....
27,497
27,257
FW2409917.UP.FTS.B,
12.52%,
1/11/27
..
5,921
5,871
L2370107.UP.FTS.B,
12.85%,
1/11/27
....
4,536
4,498
L2412100.UP.FTS.B,
13.07%,
1/11/27
....
6,047
5,998
L2409206.UP.FTS.B,
13.1%,
1/11/27
.....
3,700
3,669
L2413356.UP.FTS.B,
13.4%,
1/11/27
.....
7,775
351
L2411596.UP.FTS.B,
13.42%,
1/11/27
....
4,624
4,585
L2411372.UP.FTS.B,
13.45%,
1/11/27
....
5,561
5,514
FW2412293.UP.FTS.B,
13.57%,
1/11/27
..
4,896
4,854
FW2411936.UP.FTS.B,
13.61%,
1/11/27
..
7,138
7,078
FW2412839.UP.FTS.B,
13.8%,
1/11/27
...
9,923
9,839
FW2407206.UP.FTS.B,
13.82%,
1/11/27
..
5,564
5,517
FW2410061.UP.FTS.B,
13.89%,
1/11/27
..
18,551
18,394
L2412994.UP.FTS.B,
13.93%,
1/11/27
....
3,786
3,745
L2412970.UP.FTS.B,
14.15%,
1/11/27
....
28,004
27,779
L2409821.UP.FTS.B,
14.42%,
1/11/27
....
5,014
4,971
L2410324.UP.FTS.B,
14.46%,
1/11/27
....
17,828
17,677
L2405215.UP.FTS.B,
14.48%,
1/11/27
....
27,273
27,034
L2408774.UP.FTS.B,
14.55%,
1/11/27
....
3,715
3,668
FW2412832.UP.FTS.B,
14.73%,
1/11/27
..
5,575
5,528
L2410681.UP.FTS.B,
14.74%,
1/11/27
....
2,323
2,303
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
L2408843.UP.FTS.B,
14.84%,
1/11/27
....
$
2,846
$
2,820
L2408771.UP.FTS.B,
14.9%,
1/11/27
.....
8,000
579
L2407539.UP.FTS.B,
14.97%,
1/11/27
....
11,154
11,060
L2412759.UP.FTS.B,
15.38%,
1/11/27
....
5,609
5,542
L2412202.UP.FTS.B,
15.67%,
1/11/27
....
5,584
5,537
FW2409433.UP.FTS.B,
15.77%,
1/11/27
..
23,270
23,074
L2410725.UP.FTS.B,
15.84%,
1/11/27
....
18,315
18,154
L2413295.UP.FTS.B,
15.96%,
1/11/27
....
6,082
6,009
L2408436.UP.FTS.B,
15.99%,
1/11/27
....
37,246
36,781
FW2412862.UP.FTS.B,
16.01%,
1/11/27
..
9,498
9,418
L2379748.UP.FTS.B,
16.06%,
1/11/27
....
4,098
4,046
L2410414.UP.FTS.B,
16.07%,
1/11/27
....
4,633
4,574
L2413878.UP.FTS.B,
16.28%,
1/11/27
....
10,264
10,181
L2413797.UP.FTS.B,
16.41%,
1/11/27
....
9,285
9,168
L2412207.UP.FTS.B,
16.44%,
1/11/27
....
1,699
940
FW2411990.UP.FTS.B,
16.5%,
1/11/27
...
18,640
18,407
L2406986.UP.FTS.B,
16.62%,
1/11/27
....
4,661
4,603
L2412621.UP.FTS.B,
16.62%,
1/11/27
....
3,729
3,682
L2407022.UP.FTS.B,
16.96%,
1/11/27
....
4,664
4,606
L2409264.UP.FTS.B,
16.99%,
1/11/27
....
9,328
9,212
FW2411635.UP.FTS.B,
17.05%,
1/11/27
..
4,758
4,685
FW2412497.UP.FTS.B,
17.05%,
1/11/27
..
9,329
9,213
L2412903.UP.FTS.B,
17.31%,
1/11/27
....
1,451
198
FW2407434.UP.FTS.B,
17.34%,
1/11/27
..
18,668
18,511
FW2407072.UP.FTS.B,
17.38%,
1/11/27
..
4,667
4,628
L2411840.UP.FTS.B,
17.48%,
1/11/27
....
27,126
14,235
FW2410259.UP.FTS.B,
17.51%,
1/11/27
..
9,225
9,132
L2406982.UP.FTS.B,
17.53%,
1/11/27
....
8,497
8,367
L2412808.UP.FTS.B,
17.54%,
1/11/27
....
9,337
9,221
L2410494.UP.FTS.B,
17.56%,
1/11/27
....
18,676
18,442
FW2411466.UP.FTS.B,
17.75%,
1/11/27
..
1,868
1,845
L2407285.UP.FTS.B,
17.96%,
1/11/27
....
4,672
4,601
FW2407640.UP.FTS.B,
18.05%,
1/11/27
..
10,280
10,194
FW2407472.UP.FTS.B,
18.08%,
1/11/27
..
24,300
24,095
L2410765.UP.FTS.B,
18.19%,
1/11/27
....
6,971
6,882
L2410306.UP.FTS.B,
18.23%,
1/11/27
....
6,544
6,489
FW2413451.UP.FTS.B,
18.29%,
1/11/27
..
2,337
2,302
L2412214.UP.FTS.B,
18.34%,
1/11/27
....
2,806
2,782
L2412796.UP.FTS.B,
18.35%,
1/11/27
....
202
199
L2407240.UP.FTS.B,
18.45%,
1/11/27
....
9,352
9,209
L2413233.UP.FTS.B,
18.45%,
1/11/27
....
2,338
2,309
L2412345.UP.FTS.B,
18.51%,
1/11/27
....
3,188
3,141
L2406617.UP.FTS.B,
18.6%,
1/11/27
.....
1,915
531
L2413035.UP.FTS.B,
18.66%,
1/11/27
....
2,807
2,764
FW2406958.UP.FTS.B,
18.83%,
1/11/27
..
2,309
2,280
L2407160.UP.FTS.B,
18.83%,
1/11/27
....
16,377
16,172
FW2406995.UP.FTS.B,
18.92%,
1/11/27
..
11,680
11,523
L2409397.UP.FTS.B,
18.93%,
1/11/27
....
7,488
7,394
L2413429.UP.FTS.B,
19.09%,
1/11/27
....
872
864
L2407535.UP.FTS.B,
19.16%,
1/11/27
....
5,056
4,993
L2412374.UP.FTS.B,
19.25%,
1/11/27
....
11,269
11,150
L2413002.UP.FTS.B,
19.57%,
1/11/27
....
4,123
4,060
L2410320.UP.FTS.B,
19.7%,
1/11/27
.....
9,393
2,691
L2407259.UP.FTS.B,
19.81%,
1/11/27
....
8,310
8,182
FW2410395.UP.FTS.B,
20.34%,
1/11/27
..
4,691
4,619
FW2404586.UP.FTS.B,
20.36%,
1/11/27
..
14,691
395
FW2412607.UP.FTS.B,
20.39%,
1/11/27
..
4,504
4,457
L2411820.UP.FTS.B,
20.47%,
1/11/27
....
2,000
144
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
200
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
FW2410858.UP.FTS.B,
20.48%,
1/11/27
..
$
2,076
$
2,051
L2395966.UP.FTS.B,
20.59%,
1/11/27
....
15,393
15,234
FW2412890.UP.FTS.B,
20.68%,
1/11/27
..
9,387
9,290
FW2410350.UP.FTS.B,
20.75%,
1/11/27
..
9,388
9,291
L2406944.UP.FTS.B,
20.79%,
1/11/27
....
9,985
9,880
FW2411255.UP.FTS.B,
20.89%,
1/11/27
..
4,349
2,590
L2402977.UP.FTS.B,
20.95%,
1/11/27
....
1,900
1,128
L2407644.UP.FTS.B,
21.08%,
1/11/27
....
3,757
3,718
FW2409292.UP.FTS.B,
21.09%,
1/11/27
..
23,483
23,123
L2412421.UP.FTS.B,
21.23%,
1/11/27
....
2,537
2,511
L2406830.UP.FTS.B,
21.4%,
1/11/27
.....
16,917
16,657
L2410708.UP.FTS.B,
21.43%,
1/11/27
....
2,276
2,245
L2410907.UP.FTS.B,
21.6%,
1/11/27
.....
3,290
3,256
FW2411595.UP.FTS.B,
21.83%,
1/11/27
..
4,702
4,630
FW2405620.UP.FTS.B,
21.95%,
1/11/27
..
1,570
1,550
FW2413140.UP.FTS.B,
22.12%,
1/11/27
..
4,704
4,656
L2413585.UP.FTS.B,
22.13%,
1/11/27
....
7,527
7,449
FW2413038.UP.FTS.B,
22.18%,
1/11/27
..
1,882
1,862
L2413170.UP.FTS.B,
22.26%,
1/11/27
....
7,106
7,022
FW2411932.UP.FTS.B,
22.38%,
1/11/27
..
5,000
4,960
L2413345.UP.FTS.B,
22.45%,
1/11/27
....
5,648
5,590
L2410843.UP.FTS.B,
22.81%,
1/11/27
....
4,239
4,195
FW2412276.UP.FTS.B,
22.84%,
1/11/27
..
3,692
3,651
FW2408730.UP.FTS.B,
22.91%,
1/11/27
..
16,833
16,651
L2410433.UP.FTS.B,
22.92%,
1/11/27
....
1,884
1,855
FW2409793.UP.FTS.B,
22.96%,
1/11/27
..
9,423
9,325
L2410796.UP.FTS.B,
23%,
1/11/27
......
6,650
6,576
L2413593.UP.FTS.B,
23.06%,
1/11/27
....
8,500
8,410
L2410622.UP.FTS.B,
23.11%,
1/11/27
....
4,523
4,476
L2413027.UP.FTS.B,
23.16%,
1/11/27
....
7,539
7,461
L2399356.UP.FTS.B,
23.25%,
1/11/27
....
5,655
5,597
FW2412083.UP.FTS.B,
23.34%,
1/11/27
..
4,336
4,291
FW2406392.UP.FTS.B,
23.41%,
1/11/27
..
8,568
8,481
FW2410830.UP.FTS.B,
23.55%,
1/11/27
..
161
105
FW2411494.UP.FTS.B,
23.55%,
1/11/27
..
3,402
985
L2411082.UP.FTS.B,
23.57%,
1/11/27
....
10,820
10,706
FW2411134.UP.FTS.B,
23.62%,
1/11/27
..
9,592
5,521
L2408703.UP.FTS.B,
23.63%,
1/11/27
....
5,576
5,515
L2413373.UP.FTS.B,
23.72%,
1/11/27
....
28,298
28,003
L2411227.UP.FTS.B,
23.8%,
1/11/27
.....
3,863
2,304
FW2413529.UP.FTS.B,
23.86%,
1/11/27
..
1,887
1,867
L2412570.UP.FTS.B,
23.87%,
1/11/27
....
19,069
11,354
L2411288.UP.FTS.B,
23.94%,
1/11/27
....
10,807
10,657
L2409471.UP.FTS.B,
23.96%,
1/11/27
....
5,661
5,603
L2412292.UP.FTS.B,
24.03%,
1/11/27
....
17,423
17,240
L2413379.UP.FTS.B,
24.03%,
1/11/27
....
18,874
18,677
L2413360.UP.FTS.B,
24.07%,
1/11/27
....
1,888
1,868
FW2412786.UP.FTS.B,
24.26%,
1/11/27
..
8,024
7,941
L2413922.UP.FTS.B,
24.27%,
1/11/27
....
3,099
457
L2412474.UP.FTS.B,
24.3%,
1/11/27
.....
6,608
6,507
L2406745.UP.FTS.B,
24.41%,
1/11/27
....
1,994
1,148
FW2409686.UP.FTS.B,
24.48%,
1/11/27
..
6,665
6,597
FW2412331.UP.FTS.B,
24.55%,
1/11/27
..
18,889
18,692
FW2411158.UP.FTS.B,
24.56%,
1/11/27
..
2,856
2,827
L2411714.UP.FTS.B,
24.56%,
1/11/27
....
2,546
2,519
L2407599.UP.FTS.B,
24.69%,
1/11/27
....
11,169
11,049
FW2409812.UP.FTS.B,
24.81%,
1/11/27
..
2,819
2,789
L2402374.UP.FTS.B,
24.82%,
1/11/27
....
945
933
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
L2412557.UP.FTS.B,
24.83%,
1/11/27
....
$
6,614
$
6,545
L2407837.UP.FTS.B,
24.89%,
1/11/27
....
2,794
2,759
FW2411057.UP.FTS.B,
24.91%,
1/11/27
..
3,340
3,306
FW2407461.UP.FTS.B,
25.01%,
1/11/27
..
4,725
4,676
L2410747.UP.FTS.B,
25.02%,
1/11/27
....
1,418
1,403
L2413166.UP.FTS.B,
25.02%,
1/11/27
....
2,649
2,621
L2413478.UP.FTS.B,
25.02%,
1/11/27
....
3,211
1,919
L2407824.UP.FTS.B,
25.08%,
1/11/27
....
3,875
3,835
L2412285.UP.FTS.B,
25.08%,
1/11/27
....
11,815
11,692
L2389901.UP.FTS.B,
25.09%,
1/11/27
....
1,274
1,256
L2412701.UP.FTS.B,
25.09%,
1/11/27
....
1,264
1,249
L2412420.UP.FTS.B,
25.12%,
1/11/27
....
1,412
1,397
L2402682.UP.FTS.B,
25.13%,
1/11/27
....
1,040
1,029
L2410276.UP.FTS.B,
25.16%,
1/11/27
....
908
897
L2412631.UP.FTS.B,
25.16%,
1/11/27
....
1,229
1,216
FW2412505.UP.FTS.B,
25.22%,
1/11/27
..
4,443
4,397
L2406959.UP.FTS.B,
25.22%,
1/11/27
....
11,082
10,955
L2413584.UP.FTS.B,
25.24%,
1/11/27
....
1,134
1,117
L2413218.UP.FTS.B,
25.25%,
1/11/27
....
1,135
1,118
L2412108.UP.FTS.B,
25.28%,
1/11/27
....
3,264
1,941
L2406872.UP.FTS.B,
25.29%,
1/11/27
....
5,051
4,999
L2413560.UP.FTS.B,
25.29%,
1/11/27
....
3,320
3,285
L2410164.UP.FTS.B,
25.3%,
1/11/27
.....
1,135
1,123
L2412052.UP.FTS.B,
25.3%,
1/11/27
.....
13,018
12,842
L2406611.UP.FTS.B,
25.32%,
1/11/27
....
21,506
21,248
FW2410196.UP.FTS.B,
25.33%,
1/11/27
..
3,472
247
FW2411982.UP.FTS.B,
25.34%,
1/11/27
..
4,746
4,696
L2409213.UP.FTS.B,
25.34%,
1/11/27
....
4,971
4,916
L2413580.UP.FTS.B,
25.34%,
1/11/27
....
1,639
475
L2412211.UP.FTS.B,
25.36%,
1/11/27
....
8,180
(59)
L2411780.UP.FTS.B,
25.37%,
1/11/27
....
3,424
3,371
L2413809.UP.FTS.B,
25.37%,
1/11/27
....
7,470
7,392
L2393106.UP.FTS.B,
25.38%,
1/11/27
....
8,985
8,847
L2409900.UP.FTS.B,
25.4%,
1/11/27
.....
946
936
L2411491.UP.FTS.B,
25.4%,
1/11/27
.....
2,332
2,295
L2412739.UP.FTS.B,
25.4%,
1/11/27
.....
975
3
L2413553.UP.FTS.B,
25.42%,
1/11/27
....
1,265
182
L2407550.UP.FTS.B,
25.46%,
1/11/27
....
1,040
1,029
L2412889.UP.FTS.B,
25.46%,
1/11/27
....
1,797
1,778
L2406911.UP.FTS.B,
25.47%,
1/11/27
....
2,200
2,171
L2411973.UP.FTS.B,
25.47%,
1/11/27
....
1,229
1,217
L2410938.UP.FTS.B,
25.48%,
1/11/27
....
11,290
110
L2411979.UP.FTS.B,
25.48%,
1/11/27
....
1,039
1,029
L2412081.UP.FTS.B,
25.48%,
1/11/27
....
5,958
5,896
L2413401.UP.FTS.B,
25.48%,
1/11/27
....
701
692
L2411173.UP.FTS.B,
25.49%,
1/11/27
....
1,324
1,311
L2413595.UP.FTS.B,
25.51%,
1/11/27
....
3,121
3,088
L2412805.UP.FTS.B,
25.53%,
1/11/27
....
6,337
6,271
FW2412928.UP.FTS.B,
25.61%,
1/11/27
..
1,892
1,872
FW2407809.UP.FTS.B,
25.64%,
1/11/27
..
12,013
11,888
L2410766.UP.FTS.B,
25.7%,
1/11/27
.....
6,312
6,245
FW2410664.UP.FTS.B,
25.72%,
1/11/27
..
1,892
1,872
FW2410079.UP.FTS.B,
25.81%,
1/11/27
..
2,839
2,809
L2406866.UP.FTS.B,
25.98%,
1/11/27
....
1,719
1,702
L2413661.UP.FTS.B,
25.98%,
1/11/27
....
2,461
2,435
L2408715.UP.FTS.B,
26.2%,
1/11/27
.....
13,470
13,325
L2412410.UP.FTS.B,
26.21%,
1/11/27
....
7,100
7,026
FW2412377.UP.FTS.B,
26.3%,
1/11/27
...
5,888
5,826
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
201
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
FW2411046.UP.FTS.B,
26.47%,
1/11/27
..
$
8,307
$
8,213
FW2412597.UP.FTS.B,
26.59%,
1/11/27
..
9,785
33
L2409231.UP.FTS.B,
26.66%,
1/11/27
....
4,598
4,545
L2410155.UP.FTS.B,
26.8%,
1/11/27
.....
7,580
7,501
FW2409497.UP.FTS.B,
26.87%,
1/11/27
..
1,879
1,859
FW2410552.UP.FTS.B,
27%,
1/11/27
....
1,896
1,876
FW2410687.UP.FTS.B,
27.05%,
1/11/27
..
14,218
14,069
FW2408955.UP.FTS.B,
27.26%,
1/11/27
..
2,373
2,348
FW2407003.UP.FTS.B,
27.4%,
1/11/27
...
6,316
6,252
FW2413526.UP.FTS.B,
27.48%,
1/11/27
..
9,574
9,477
FW2410353.UP.FTS.B,
27.55%,
1/11/27
..
8,567
8,477
FW2410176.UP.FTS.B,
27.65%,
1/11/27
..
5,692
5,632
FW2412354.UP.FTS.B,
27.69%,
1/11/27
..
949
939
FW2409407.UP.FTS.B,
27.75%,
1/11/27
..
4,903
4,849
FW2412160.UP.FTS.B,
27.76%,
1/11/27
..
3,795
3,755
FW2406988.UP.FTS.B,
27.86%,
1/11/27
..
4,745
4,695
FW2408818.UP.FTS.B,
27.86%,
1/11/27
..
10,884
10,749
FW2410214.UP.FTS.B,
27.92%,
1/11/27
..
48,751
7,173
FW2410159.UP.FTS.B,
27.94%,
1/11/27
..
4,228
4,181
FW2412836.UP.FTS.B,
28.16%,
1/11/27
..
4,748
4,698
FW2402005.UP.FTS.B,
28.28%,
1/11/27
..
1,810
1,787
FW2413704.UP.FTS.B,
28.34%,
1/11/27
..
22,029
13,200
FW2406115.UP.FTS.B,
28.41%,
1/11/27
..
5,223
5,168
FW2410714.UP.FTS.B,
28.59%,
1/11/27
..
1,140
1,128
FW2405234.UP.FTS.B,
28.71%,
1/11/27
..
1,137
1,124
FW2409269.UP.FTS.B,
28.8%,
1/11/27
...
4,964
349
FW2413762.UP.FTS.B,
28.85%,
1/11/27
..
3,801
3,761
FW2410593.UP.FTS.B,
28.88%,
1/11/27
..
8,553
8,463
FW2412229.UP.FTS.B,
28.91%,
1/11/27
..
3,848
3,802
FW2412768.UP.FTS.B,
29.24%,
1/11/27
..
2,709
788
FW2411293.UP.FTS.B,
29.42%,
1/11/27
..
1,522
1,506
FW2407567.UP.FTS.B,
29.43%,
1/11/27
..
3,805
3,765
FW2412515.UP.FTS.B,
29.43%,
1/11/27
..
1,902
1,882
FW2407055.UP.FTS.B,
29.46%,
1/11/27
..
4,601
4,546
FW2408568.UP.FTS.B,
29.5%,
1/11/27
...
4,280
4,235
FW2411354.UP.FTS.B,
29.5%,
1/11/27
...
3,242
1,940
FW2403902.UP.FTS.B,
29.51%,
1/11/27
..
2,092
2,070
FW2410442.UP.FTS.B,
29.53%,
1/11/27
..
1,915
1,895
FW2413452.UP.FTS.B,
29.72%,
1/11/27
..
1,788
125
FW2412625.UP.FTS.B,
30.04%,
1/11/27
..
5,809
1,692
FW2407473.UP.FTS.B,
30.14%,
1/11/27
..
3,483
3,435
FW2412942.UP.FTS.B,
30.18%,
1/11/27
..
3,617
3,579
FW2400724.UP.FTS.B,
30.27%,
1/11/27
..
6,800
4,080
FW2413192.UP.FTS.B,
30.3%,
1/11/27
...
6,093
6,029
FW2413390.UP.FTS.B,
30.33%,
1/11/27
..
4,164
4,119
FW2409559.UP.FTS.B,
30.37%,
1/11/27
..
1,048
1,037
FW2407748.UP.FTS.B,
30.43%,
1/11/27
..
2,285
2,261
FW2395496.UP.FTS.B,
30.49%,
1/11/27
..
5,494
5,434
FW2412568.UP.FTS.B,
30.5%,
1/11/27
...
1,968
(17)
FW2413147.UP.FTS.B,
30.55%,
1/11/27
..
3,874
3,831
FW2390839.UP.FTS.B,
30.58%,
1/11/27
..
1,299
1,276
FW2410881.UP.FTS.B,
30.59%,
1/11/27
..
933
923
FW2413484.UP.FTS.B,
30.59%,
1/11/27
..
952
942
FW2413018.UP.FTS.B,
30.69%,
1/11/27
..
1,275
1,252
FW2410149.UP.FTS.B,
30.7%,
1/11/27
...
1,476
217
FW2408341.UP.FTS.B,
30.72%,
1/11/27
..
1,104
1,091
FW2413509.UP.FTS.B,
30.72%,
1/11/27
..
1,193
1,179
FW2410308.UP.FTS.B,
30.74%,
1/11/27
..
1,045
1,034
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
FW2412502.UP.FTS.B,
30.76%,
1/11/27
..
$
14,289
$
14,139
FW2412683.UP.FTS.B,
30.78%,
1/11/27
..
38,075
37,672
FW2410401.UP.FTS.B,
30.79%,
1/11/27
..
1,239
1,225
FW2413758.UP.FTS.B,
30.79%,
1/11/27
..
1,620
1,602
FW2412911.UP.FTS.B,
30.8%,
1/11/27
...
969
282
FW2408824.UP.FTS.B,
30.81%,
1/11/27
..
1,620
1,602
FW2412224.UP.FTS.B,
30.81%,
1/11/27
..
2,595
1,555
FW2410697.UP.FTS.B,
30.88%,
1/11/27
..
1,789
1,769
FW2411299.UP.FTS.B,
30.92%,
1/11/27
..
1,640
984
FW2392367.UP.FTS.B,
30.94%,
1/11/27
..
2,131
2,104
FW2411070.UP.FTS.B,
30.94%,
1/11/27
..
4,457
1,300
FW2407168.UP.FTS.B,
30.95%,
1/11/27
..
1,158
1,146
FW2411172.UP.FTS.B,
30.96%,
1/11/27
..
5,527
5,469
FW2410302.UP.FTS.B,
30.97%,
1/11/27
..
1,730
1,712
FW2413017.UP.FTS.B,
30.97%,
1/11/27
..
2,382
2,357
FW2403979.UP.FTS.B,
31.01%,
1/11/27
..
7,450
(15)
FW2411010.UP.FTS.B,
31.02%,
1/11/27
..
4,288
4,243
FW2409966.UP.FTS.B,
31.03%,
1/11/27
..
3,145
3,112
FW2412503.UP.FTS.B,
31.04%,
1/11/27
..
1,744
510
FW2407947.UP.FTS.B,
31.05%,
1/11/27
..
3,431
3,395
FW2412394.UP.FTS.B,
31.05%,
1/11/27
..
2,001
1,980
FW2411701.UP.FTS.B,
31.06%,
1/11/27
..
2,446
1,470
FW2411738.UP.FTS.B,
31.08%,
1/11/27
..
1,715
1,697
FW2412486.UP.FTS.B,
31.11%,
1/11/27
..
4,384
4,338
FW2412611.UP.FTS.B,
31.11%,
1/11/27
..
1,291
90
FW2408288.UP.FTS.B,
31.13%,
1/11/27
..
2,114
2,085
FW2413942.UP.FTS.B,
31.15%,
1/11/27
..
1,144
1,132
FW2407798.UP.FTS.B,
31.16%,
1/11/27
..
5,942
3,561
FW2409027.UP.FTS.B,
31.16%,
1/11/27
..
1,525
1,509
FW2413313.UP.FTS.B,
31.16%,
1/11/27
..
3,876
1,131
FW2413418.UP.FTS.B,
31.16%,
1/11/27
..
7,171
2,092
FW2407226.UP.FTS.B,
31.18%,
1/11/27
..
3,145
3,112
FW2410271.UP.FTS.B,
31.19%,
1/11/27
..
1,811
1,792
FW2412133.UP.FTS.B,
31.2%,
1/11/27
...
1,225
1,208
FW2412666.UP.FTS.B,
31.22%,
1/11/27
..
4,053
(30)
FW2411177.UP.FTS.B,
31.23%,
1/11/27
..
2,908
1,745
FW2413443.UP.FTS.B,
31.32%,
1/11/27
..
4,102
4,059
FW2409156.UP.FTS.B,
31.35%,
1/11/27
..
3,921
1,154
FW2408291.UP.FTS.B,
31.44%,
1/11/27
..
7,361
7,283
FW2410499.UP.FTS.B,
31.67%,
1/11/27
..
1,696
1,669
FW2408747.UP.FTS.B,
31.68%,
1/11/27
..
11,558
11,434
FW2410407.UP.FTS.B,
31.96%,
1/11/27
..
2,909
854
FW2411062.UP.FTS.B,
32.46%,
1/11/27
..
6,683
6,612
FW2413772.UP.FTS.B,
32.47%,
1/11/27
..
2,635
2,599
FW2398852.UP.FTS.B,
32.96%,
1/11/27
..
1,471
1,452
FW2412816.UP.FTS.B,
33.43%,
1/11/27
..
1,486
1,468
FW2410751.UP.FTS.B,
34.47%,
1/11/27
..
4,689
4,640
L2419418.UP.FTS.B,
5.42%,
1/12/27
....
16,062
16,011
L2415328.UP.FTS.B,
5.83%,
1/12/27
....
44,560
44,418
L2418737.UP.FTS.B,
5.93%,
1/12/27
....
3,650
3,639
L2414458.UP.FTS.B,
5.96%,
1/12/27
....
27,377
27,295
L2393298.UP.FTS.B,
5.98%,
1/12/27
....
1,417
1,411
L2414801.UP.FTS.B,
6.11%,
1/12/27
.....
10,047
10,019
L2419934.UP.FTS.B,
6.15%,
1/12/27
....
9,146
9,121
L2418198.UP.FTS.B,
6.19%,
1/12/27
....
14,609
14,565
L2419361.UP.FTS.B,
6.41%,
1/12/27
....
1,370
1,366
L2402757.UP.FTS.B,
6.51%,
1/12/27
....
6,396
6,377
L2416784.UP.FTS.B,
6.53%,
1/12/27
....
1,827
1,822
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
202
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
L2418799.UP.FTS.B,
6.56%,
1/12/27
....
$
10,972
$
10,942
L2417049.UP.FTS.B,
6.6%,
1/12/27
.....
6,397
6,378
FW2414856.UP.FTS.B,
6.64%,
1/12/27
...
914
911
L2415375.UP.FTS.B,
6.85%,
1/12/27
....
5,479
5,463
L2416695.UP.FTS.B,
6.86%,
1/12/27
....
4,115
4,103
FW2416453.UP.FTS.B,
6.87%,
1/12/27
...
3,410
246
L2414595.UP.FTS.B,
7.05%,
1/12/27
....
6,861
6,825
L2419333.UP.FTS.B,
7.27%,
1/12/27
....
12,794
12,727
FW2415988.UP.FTS.B,
7.29%,
1/12/27
...
18,305
18,210
L2417990.UP.FTS.B,
7.34%,
1/12/27
....
45,767
45,530
L2419307.UP.FTS.B,
7.34%,
1/12/27
....
37,255
37,148
L2417199.UP.FTS.B,
7.43%,
1/12/27
....
42,536
21,508
FW2415894.UP.FTS.B,
7.44%,
1/12/27
...
13,733
13,694
FW2419541.UP.FTS.B,
7.5%,
1/12/27
....
13,735
13,664
L2414153.UP.FTS.B,
7.51%,
1/12/27
....
2,289
2,283
L2419299.UP.FTS.B,
7.55%,
1/12/27
....
10,986
10,929
L2417691.UP.FTS.B,
7.69%,
1/12/27
....
20,831
20,771
L2414031.UP.FTS.B,
7.78%,
1/12/27
....
14,659
14,584
L2416389.UP.FTS.B,
7.93%,
1/12/27
....
7,785
630
L2415118.UP.FTS.B,
7.98%,
1/12/27
.....
13,680
1,004
L2417969.UP.FTS.B,
8.13%,
1/12/27
....
6,785
6,750
FW2416734.UP.FTS.B,
8.22%,
1/12/27
...
4,519
4,495
L2416137.UP.FTS.B,
8.26%,
1/12/27
....
9,538
9,490
L2417948.UP.FTS.B,
8.36%,
1/12/27
....
1,010
1,006
FW2415662.UP.FTS.B,
8.6%,
1/12/27
....
6,425
6,392
L2418166.UP.FTS.B,
8.62%,
1/12/27
....
4,485
4,461
L2414318.UP.FTS.B,
8.81%,
1/12/27
....
15,151
15,074
FW2416458.UP.FTS.B,
9.06%,
1/12/27
...
2,942
2,928
FW2419066.UP.FTS.B,
9.06%,
1/12/27
...
1,776
1,767
L2414012.UP.FTS.B,
9.06%,
1/12/27
....
9,187
9,162
L2416545.UP.FTS.B,
9.07%,
1/12/27
....
13,587
13,517
L2418009.UP.FTS.B,
9.08%,
1/12/27
....
11,025
10,969
L2414474.UP.FTS.B,
9.1%,
1/12/27
.....
5,495
5,467
L2414926.UP.FTS.B,
9.43%,
1/12/27
....
28,585
28,451
L2413887.UP.FTS.B,
9.49%,
1/12/27
....
5,507
5,464
FW2419389.UP.FTS.B,
9.58%,
1/12/27
...
2,179
2,166
L2418929.UP.FTS.B,
9.6%,
1/12/27
.....
13,840
13,776
FW2414819.UP.FTS.B,
9.71%,
1/12/27
...
14,719
14,646
FW2415990.UP.FTS.B,
9.9%,
1/12/27
....
27,609
27,399
L2414275.UP.FTS.B,
9.91%,
1/12/27
....
36,811
36,629
L2416335.UP.FTS.B,
10.07%,
1/12/27
....
9,758
9,710
L2417012.UP.FTS.B,
10.17%,
1/12/27
....
1,842
1,833
L2415942.UP.FTS.B,
10.21%,
1/12/27
....
13,813
13,745
FW2417548.UP.FTS.B,
10.24%,
1/12/27
..
13,814
13,746
FW2418007.UP.FTS.B,
10.28%,
1/12/27
..
2,303
2,285
FW2418613.UP.FTS.B,
10.3%,
1/12/27
...
3,661
3,643
FW2417403.UP.FTS.B,
10.31%,
1/12/27
..
6,542
3,428
L2417034.UP.FTS.B,
10.34%,
1/12/27
....
24,595
24,475
L2415901.UP.FTS.B,
10.41%,
1/12/27
....
14,740
14,628
L2414981.UP.FTS.B,
10.47%,
1/12/27
....
11,701
11,613
L2417379.UP.FTS.B,
10.69%,
1/12/27
....
1,837
1,817
FW2418154.UP.FTS.B,
10.71%,
1/12/27
..
2,892
1,515
L2414718.UP.FTS.B,
10.85%,
1/12/27
....
3,688
3,660
L2418788.UP.FTS.B,
10.88%,
1/12/27
....
6,910
6,840
L2414601.UP.FTS.B,
11.39%,
1/12/27
....
3,692
3,665
L2416866.UP.FTS.B,
11.39%,
1/12/27
....
3,042
3,019
FW2415761.UP.FTS.B,
11.51%,
1/12/27
..
4,616
4,582
FW2419104.UP.FTS.B,
11.58%,
1/12/27
..
7,387
7,332
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
L2415315.UP.FTS.B,
11.71%,
1/12/27
....
$
13,818
$
13,713
L2414779.UP.FTS.B,
11.77%,
1/12/27
....
3,695
3,667
L2416933.UP.FTS.B,
11.86%,
1/12/27
....
6,172
1,559
L2414313.UP.FTS.B,
12.04%,
1/12/27
....
9,242
9,174
L2419136.UP.FTS.B,
12.23%,
1/12/27
....
6,289
6,243
L2418802.UP.FTS.B,
12.3%,
1/12/27
....
11,118
11,038
L2415035.UP.FTS.B,
12.36%,
1/12/27
....
11,099
11,016
L2415490.UP.FTS.B,
12.71%,
1/12/27
....
14,701
14,598
FW2415223.UP.FTS.B,
12.84%,
1/12/27
..
3,754
1,969
L2418046.UP.FTS.B,
12.84%,
1/12/27
....
3,703
3,675
L2419353.UP.FTS.B,
12.95%,
1/12/27
....
30,184
29,961
L2418370.UP.FTS.B,
13.09%,
1/12/27
....
20,000
1,455
L2416405.UP.FTS.B,
13.12%,
1/12/27
....
1,580
1,564
L2418973.UP.FTS.B,
13.17%,
1/12/27
....
19,452
19,309
L2419419.UP.FTS.B,
13.25%,
1/12/27
....
6,485
6,437
FW2414406.UP.FTS.B,
13.28%,
1/12/27
..
24,682
1,783
L2419424.UP.FTS.B,
13.54%,
1/12/27
....
9,449
9,349
L2414757.UP.FTS.B,
13.72%,
1/12/27
....
10,201
10,122
L2419716.UP.FTS.B,
13.82%,
1/12/27
....
8,811
8,746
L2418679.UP.FTS.B,
13.97%,
1/12/27
....
10,126
10,040
FW2417958.UP.FTS.B,
14.2%,
1/12/27
...
8,072
8,013
L2414553.UP.FTS.B,
14.38%,
1/12/27
....
18,937
18,797
L2416143.UP.FTS.B,
14.39%,
1/12/27
....
1,857
1,843
L2417256.UP.FTS.B,
14.46%,
1/12/27
....
29,674
29,470
L2418826.UP.FTS.B,
14.49%,
1/12/27
....
6,428
6,373
L2416103.UP.FTS.B,
14.61%,
1/12/27
....
9,288
9,221
L2419563.UP.FTS.B,
14.64%,
1/12/27
....
27,805
27,602
L2419336.UP.FTS.B,
14.72%,
1/12/27
....
20,438
20,290
L2416456.UP.FTS.B,
14.82%,
1/12/27
....
4,825
660
L2420324.UP.FTS.B,
14.82%,
1/12/27
....
6,755
1,724
FW2417528.UP.FTS.B,
14.86%,
1/12/27
..
4,646
4,613
L2407266.UP.FTS.B,
14.91%,
1/12/27
....
32,668
32,445
L2419366.UP.FTS.B,
14.95%,
1/12/27
....
5,576
5,536
FW2414824.UP.FTS.B,
15.13%,
1/12/27
..
32,539
32,305
L2418818.UP.FTS.B,
15.34%,
1/12/27
....
6,476
6,428
FW2420218.UP.FTS.B,
15.49%,
1/12/27
..
5,552
5,511
L2418960.UP.FTS.B,
15.54%,
1/12/27
....
18,608
18,401
L2418555.UP.FTS.B,
15.62%,
1/12/27
....
14,941
14,839
FW2417751.UP.FTS.B,
15.65%,
1/12/27
..
3,722
3,696
L2416354.UP.FTS.B,
15.71%,
1/12/27
....
4,652
4,618
L2417088.UP.FTS.B,
15.78%,
1/12/27
....
7,067
6,988
FW2418121.UP.FTS.B,
15.9%,
1/12/27
...
37,417
37,018
L2414253.UP.FTS.B,
16.15%,
1/12/27
....
7,452
7,369
L2416434.UP.FTS.B,
16.25%,
1/12/27
....
10,061
9,950
L2414062.UP.FTS.B,
16.39%,
1/12/27
....
4,939
4,884
L2414473.UP.FTS.B,
16.4%,
1/12/27
....
932
922
L2415142.UP.FTS.B,
16.59%,
1/12/27
....
2,104
2,070
L2420474.UP.FTS.B,
16.75%,
1/12/27
....
13,986
13,887
L2420206.UP.FTS.B,
16.98%,
1/12/27
....
10,261
10,148
L2419121.UP.FTS.B,
17.04%,
1/12/27
....
6,514
6,441
L2416327.UP.FTS.B,
17.17%,
1/12/27
....
23,328
23,164
L2417581.UP.FTS.B,
17.27%,
1/12/27
....
4,106
4,061
L2415513.UP.FTS.B,
17.29%,
1/12/27
....
3,733
3,682
FW2414008.UP.FTS.B,
17.55%,
1/12/27
..
3,019
2,997
FW2417755.UP.FTS.B,
18.05%,
1/12/27
..
15,569
15,391
FW2394068.UP.FTS.B,
18.18%,
1/12/27
..
7,478
7,376
L2419094.UP.FTS.B,
18.31%,
1/12/27
....
4,554
4,502
L2416524.UP.FTS.B,
18.36%,
1/12/27
....
4,675
4,643
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
203
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
L2415786.UP.FTS.B,
18.43%,
1/12/27
....
$
4,021
$
3,966
L2415190.UP.FTS.B,
18.58%,
1/12/27
....
4,677
4,613
L2415900.UP.FTS.B,
18.63%,
1/12/27
....
7,262
1,056
L2415554.UP.FTS.B,
19.01%,
1/12/27
....
2,808
2,770
L2415568.UP.FTS.B,
19.57%,
1/12/27
....
3,299
3,271
FW2420321.UP.FTS.B,
19.58%,
1/12/27
..
2,061
2,033
L2415184.UP.FTS.B,
19.76%,
1/12/27
....
14,059
13,907
FW2415024.UP.FTS.B,
19.94%,
1/12/27
..
8,157
8,088
L2414022.UP.FTS.B,
20.3%,
1/12/27
....
37,531
37,213
FW2414368.UP.FTS.B,
20.45%,
1/12/27
..
2,389
2,367
L2418100.UP.FTS.B,
20.74%,
1/12/27
....
16,993
16,763
L2418147.UP.FTS.B,
21.2%,
1/12/27
....
2,826
787
L2416916.UP.FTS.B,
21.22%,
1/12/27
....
4,685
4,644
L2414344.UP.FTS.B,
21.24%,
1/12/27
....
5,637
5,600
L2416598.UP.FTS.B,
21.42%,
1/12/27
....
7,006
6,946
L2404728.UP.FTS.B,
21.56%,
1/12/27
....
1,410
1,398
L2414877.UP.FTS.B,
21.7%,
1/12/27
....
5,195
5,150
L2414359.UP.FTS.B,
21.93%,
1/12/27
....
1,599
1,586
L2389418.UP.FTS.B,
22.12%,
1/12/27
....
5,824
5,775
L2415810.UP.FTS.B,
22.13%,
1/12/27
....
4,705
4,665
L2415799.UP.FTS.B,
22.22%,
1/12/27
....
4,667
4,626
FW2408502.UP.FTS.B,
22.28%,
1/12/27
..
6,023
5,973
L2418697.UP.FTS.B,
22.86%,
1/12/27
....
4,239
4,182
L2416737.UP.FTS.B,
23.4%,
1/12/27
....
2,539
2,517
FW2416362.UP.FTS.B,
23.42%,
1/12/27
..
4,714
4,675
L2409743.UP.FTS.B,
23.49%,
1/12/27
....
10,254
5,444
L2418647.UP.FTS.B,
23.67%,
1/12/27
....
10,218
10,129
L2416109.UP.FTS.B,
23.75%,
1/12/27
....
11,620
3,267
FW2418430.UP.FTS.B,
23.78%,
1/12/27
..
2,772
2,733
FW2414282.UP.FTS.B,
23.79%,
1/12/27
..
1,887
1,871
FW2415097.UP.FTS.B,
23.87%,
1/12/27
..
2,736
2,709
L2410860.UP.FTS.B,
23.88%,
1/12/27
....
5,956
5,895
L2417738.UP.FTS.B,
23.9%,
1/12/27
....
9,811
160
L2417411.UP.FTS.B,
24%,
1/12/27
......
9,248
9,171
FW2414632.UP.FTS.B,
24.07%,
1/12/27
..
966
280
L2415306.UP.FTS.B,
24.21%,
1/12/27
....
10,195
10,110
L2416850.UP.FTS.B,
24.48%,
1/12/27
....
23,986
23,787
L2414849.UP.FTS.B,
24.57%,
1/12/27
....
3,200
3,172
L2417607.UP.FTS.B,
24.68%,
1/12/27
....
5,711
5,646
L2416551.UP.FTS.B,
24.77%,
1/12/27
....
6,422
954
FW2415034.UP.FTS.B,
24.95%,
1/12/27
..
5,172
5,129
L2416370.UP.FTS.B,
25.03%,
1/12/27
....
14,177
14,060
L2414219.UP.FTS.B,
25.05%,
1/12/27
....
5,705
80
L2415025.UP.FTS.B,
25.05%,
1/12/27
....
3,213
3,187
L2416425.UP.FTS.B,
25.07%,
1/12/27
....
1,334
1,315
L2416166.UP.FTS.B,
25.14%,
1/12/27
....
3,470
1,007
L2415797.UP.FTS.B,
25.15%,
1/12/27
....
1,702
1,688
FW2415852.UP.FTS.B,
25.19%,
1/12/27
..
8,593
8,526
L2415512.UP.FTS.B,
25.19%,
1/12/27
....
4,680
4,606
L2420285.UP.FTS.B,
25.25%,
1/12/27
....
2,373
2,343
L2420169.UP.FTS.B,
25.29%,
1/12/27
....
3,212
934
L2418700.UP.FTS.B,
25.3%,
1/12/27
....
1,986
1,969
FW2414825.UP.FTS.B,
25.31%,
1/12/27
..
4,727
4,689
L2414206.UP.FTS.B,
25.31%,
1/12/27
....
1,100
79
L2414994.UP.FTS.B,
25.32%,
1/12/27
....
2,811
2,786
L2415542.UP.FTS.B,
25.35%,
1/12/27
....
1,473
16
L2411740.UP.FTS.B,
25.36%,
1/12/27
....
1,513
1,500
L2419040.UP.FTS.B,
25.37%,
1/12/27
....
1,242
696
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
FW2416291.UP.FTS.B,
25.38%,
1/12/27
..
$
15,369
$
15,233
L2418717.UP.FTS.B,
25.38%,
1/12/27
....
3,216
3,189
FW2414842.UP.FTS.B,
25.41%,
1/12/27
..
946
938
L2414777.UP.FTS.B,
25.43%,
1/12/27
....
1,315
1,304
L2416664.UP.FTS.B,
25.43%,
1/12/27
....
1,419
1,400
L2417967.UP.FTS.B,
25.45%,
1/12/27
....
5,674
5,628
L2415936.UP.FTS.B,
25.47%,
1/12/27
....
3,928
42
L2418124.UP.FTS.B,
25.47%,
1/12/27
....
21,724
21,555
L2417114.UP.FTS.B,
25.49%,
1/12/27
....
1,797
1,782
L2418684.UP.FTS.B,
25.49%,
1/12/27
....
2,527
1,508
L2416550.UP.FTS.B,
25.5%,
1/12/27
....
2,823
408
FW2414671.UP.FTS.B,
25.55%,
1/12/27
..
10,000
710
FW2419476.UP.FTS.B,
25.59%,
1/12/27
..
3,225
3,195
FW2419758.UP.FTS.B,
25.64%,
1/12/27
..
4,876
724
FW2415078.UP.FTS.B,
25.67%,
1/12/27
..
3,765
3,734
FW2418617.UP.FTS.B,
25.69%,
1/12/27
..
12,198
12,091
L2418539.UP.FTS.B,
25.72%,
1/12/27
....
4,724
4,685
FW2416204.UP.FTS.B,
25.74%,
1/12/27
..
11,355
11,262
L2415253.UP.FTS.B,
25.75%,
1/12/27
....
6,976
4,173
FW2418174.UP.FTS.B,
25.89%,
1/12/27
..
9,416
9,335
L2413654.UP.FTS.B,
25.91%,
1/12/27
....
5,299
5,230
FW2415651.UP.FTS.B,
26.29%,
1/12/27
..
15,142
14,943
L2414249.UP.FTS.B,
26.35%,
1/12/27
....
3,788
3,757
FW2414970.UP.FTS.B,
26.42%,
1/12/27
..
9,478
9,401
FW2419574.UP.FTS.B,
26.43%,
1/12/27
..
18,294
18,133
FW2415609.UP.FTS.B,
26.58%,
1/12/27
..
1,800
1,785
FW2415999.UP.FTS.B,
26.93%,
1/12/27
..
8,719
8,648
FW2420083.UP.FTS.B,
27.39%,
1/12/27
..
47,417
47,033
FW2417312.UP.FTS.B,
27.53%,
1/12/27
..
2,846
2,822
L2414422.UP.FTS.B,
27.95%,
1/12/27
....
2,752
2,730
FW2416040.UP.FTS.B,
27.97%,
1/12/27
..
6,818
4,081
FW2414923.UP.FTS.B,
28.06%,
1/12/27
..
5,986
894
FW2411493.UP.FTS.B,
28.18%,
1/12/27
..
13,734
13,601
FW2418131.UP.FTS.B,
28.24%,
1/12/27
..
14,242
14,127
FW2417708.UP.FTS.B,
28.27%,
1/12/27
..
9,495
9,418
FW2414646.UP.FTS.B,
28.47%,
1/12/27
..
783
770
FW2418727.UP.FTS.B,
28.6%,
1/12/27
...
5,699
5,654
L2417119.UP.FTS.B,
28.65%,
1/12/27
....
8,830
8,759
FW2415920.UP.FTS.B,
28.81%,
1/12/27
..
11,405
11,314
FW2418008.UP.FTS.B,
28.88%,
1/12/27
..
1,615
1,602
FW2417123.UP.FTS.B,
29.19%,
1/12/27
..
15,473
15,341
FW2415652.UP.FTS.B,
29.37%,
1/12/27
..
13,312
13,206
FW2419252.UP.FTS.B,
29.51%,
1/12/27
..
2,283
2,264
FW2416858.UP.FTS.B,
29.58%,
1/12/27
..
5,016
1,477
FW2418306.UP.FTS.B,
29.61%,
1/12/27
..
6,659
6,605
FW2416828.UP.FTS.B,
29.67%,
1/12/27
..
735
723
FW2417889.UP.FTS.B,
30.34%,
1/12/27
..
2,683
2,663
FW2412114.UP.FTS.B,
30.39%,
1/12/27
..
4,380
4,345
FW2414298.UP.FTS.B,
30.41%,
1/12/27
..
3,809
3,779
FW2415348.UP.FTS.B,
30.45%,
1/12/27
..
20,526
20,347
FW2417338.UP.FTS.B,
30.54%,
1/12/27
..
1,403
841
FW2419466.UP.FTS.B,
30.59%,
1/12/27
..
5,143
5,102
FW2414026.UP.FTS.B,
30.61%,
1/12/27
..
1,057
1,049
FW2418795.UP.FTS.B,
30.61%,
1/12/27
..
3,476
1
FW2412307.UP.FTS.B,
30.74%,
1/12/27
..
4,215
(43)
FW2415122.UP.FTS.B,
30.76%,
1/12/27
..
2,191
2,174
FW2413399.UP.FTS.B,
30.8%,
1/12/27
...
1,752
258
FW2412961.UP.FTS.B,
30.81%,
1/12/27
..
1,726
1,038
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
204
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
FW2417562.UP.FTS.B,
30.84%,
1/12/27
..
$
953
$
945
FW2418392.UP.FTS.B,
30.87%,
1/12/27
..
2,081
2,064
FW2415982.UP.FTS.B,
30.89%,
1/12/27
..
2,300
163
FW2418950.UP.FTS.B,
30.94%,
1/12/27
..
2,066
2,039
FW2419318.UP.FTS.B,
30.96%,
1/12/27
..
1,000
71
FW2413630.UP.FTS.B,
30.97%,
1/12/27
..
1,351
1,342
FW2418092.UP.FTS.B,
30.98%,
1/12/27
..
1,334
1,324
FW2416140.UP.FTS.B,
30.99%,
1/12/27
..
2,096
2,080
FW2415090.UP.FTS.B,
31%,
1/12/27
....
18,106
17,963
FW2417415.UP.FTS.B,
31.03%,
1/12/27
..
1,715
1,702
FW2415567.UP.FTS.B,
31.06%,
1/12/27
..
1,239
1,229
FW2420487.UP.FTS.B,
31.06%,
1/12/27
..
1,833
1,816
FW2415692.UP.FTS.B,
31.1%,
1/12/27
...
8,504
8,436
FW2415518.UP.FTS.B,
31.11%,
1/12/27
..
5,623
5,579
FW2417950.UP.FTS.B,
31.11%,
1/12/27
..
916
908
FW2414984.UP.FTS.B,
31.12%,
1/12/27
..
3,622
3,593
FW2418991.UP.FTS.B,
31.12%,
1/12/27
..
4,806
4,765
FW2410767.UP.FTS.B,
31.15%,
1/12/27
..
1,163
341
FW2415964.UP.FTS.B,
31.16%,
1/12/27
..
1,226
1,216
FW2417489.UP.FTS.B,
31.18%,
1/12/27
..
1,430
1,418
FW2416377.UP.FTS.B,
31.22%,
1/12/27
..
4,671
4,634
FW2419575.UP.FTS.B,
31.24%,
1/12/27
..
1,943
286
FW2411958.UP.FTS.B,
31.91%,
1/12/27
..
10,181
2,986
FW2420156.UP.FTS.B,
31.98%,
1/12/27
..
2,656
2,634
FW2402573.UP.FTS.B,
32.37%,
1/12/27
..
11,157
11,073
FW2416032.UP.FTS.B,
32.75%,
1/12/27
..
19,011
18,863
FW2414360.UP.FTS.B,
33.08%,
1/12/27
..
2,197
2,180
FW2419527.UP.FTS.B,
33.12%,
1/12/27
..
1,339
1,328
FW2414351.UP.FTS.B,
33.36%,
1/12/27
..
50,000
3,512
FW2414624.UP.FTS.B,
33.41%,
1/12/27
..
2,738
2,715
L1710099.UP.FTS.B,
16.39%,
2/14/27
....
11,333
11,195
L1710153.UP.FTS.B,
22.07%,
2/14/27
....
6,391
6,048
FW1712574.UP.FTS.B,
28.34%,
2/14/27
..
4,749
4,703
FW1712038.UP.FTS.B,
31.06%,
2/14/27
..
2,986
2,883
FW1710082.UP.FTS.B,
31.29%,
2/14/27
..
938
888
FW1711329.UP.FTS.B,
32.12%,
2/14/27
..
3,326
3,291
L2632095.UP.FTS.B,
5.13%,
2/15/27
....
9,258
9,230
L2632551.UP.FTS.B,
5.37%,
2/15/27
....
11,115
11,081
L2632779.UP.FTS.B,
5.63%,
2/15/27
....
6,486
6,467
L2633842.UP.FTS.B,
6.31%,
2/15/27
....
18,570
18,520
L2633588.UP.FTS.B,
6.56%,
2/15/27
....
30,631
30,539
L2631314.UP.FTS.B,
6.7%,
2/15/27
.....
19,497
19,439
L2633374.UP.FTS.B,
7.21%,
2/15/27
....
17,656
17,603
L2633603.UP.FTS.B,
8.38%,
2/15/27
....
15,814
15,733
FW2637564.UP.FTS.B,
8.54%,
2/15/27
...
12,947
12,881
FW2631935.UP.FTS.B,
8.55%,
2/15/27
...
34,946
34,782
L2630774.UP.FTS.B,
8.69%,
2/15/27
....
3,727
3,716
FW2634707.UP.FTS.B,
9.24%,
2/15/27
...
7,837
7,795
L2635638.UP.FTS.B,
9.41%,
2/15/27
....
9,121
9,072
L2631278.UP.FTS.B,
9.42%,
2/15/27
....
4,664
4,640
FW2633029.UP.FTS.B,
9.57%,
2/15/27
...
1,400
1,392
FW2636440.UP.FTS.B,
9.62%,
2/15/27
...
6,072
6,043
FW2633295.UP.FTS.B,
9.71%,
2/15/27
...
17,266
17,178
FW2635362.UP.FTS.B,
9.75%,
2/15/27
...
11,200
11,143
L2633022.UP.FTS.B,
9.86%,
2/15/27
....
13,996
13,924
FW2635247.UP.FTS.B,
10.37%,
2/15/27
..
8,007
7,946
L2632143.UP.FTS.B,
10.83%,
2/15/27
....
5,474
5,440
FW2637614.UP.FTS.B,
11.51%,
2/15/27
..
12,602
12,506
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
L2589493.UP.FTS.B,
11.56%,
2/15/27
....
$
14,978
$
14,866
L2637309.UP.FTS.B,
11.72%,
2/15/27
....
46,820
46,468
L2632232.UP.FTS.B,
11.83%,
2/15/27
....
8,922
8,848
L2633836.UP.FTS.B,
12%,
2/15/27
......
9,931
9,856
FW2636201.UP.FTS.B,
12.12%,
2/15/27
..
6,559
6,510
L2630147.UP.FTS.B,
12.15%,
2/15/27
....
37,482
37,200
FW2637452.UP.FTS.B,
12.19%,
2/15/27
..
5,060
5,022
L2635861.UP.FTS.B,
12.41%,
2/15/27
....
7,968
7,908
L2636245.UP.FTS.B,
12.68%,
2/15/27
....
37,514
37,231
L2631815.UP.FTS.B,
13.01%,
2/15/27
....
5,631
5,588
L2628202.UP.FTS.B,
13.1%,
2/15/27
....
6,067
6,020
L2637042.UP.FTS.B,
13.14%,
2/15/27
....
7,508
7,452
L2631332.UP.FTS.B,
13.22%,
2/15/27
....
4,693
4,658
FW2633237.UP.FTS.B,
13.24%,
2/15/27
..
3,755
3,726
L2631964.UP.FTS.B,
14%,
2/15/27
......
7,048
6,995
L2632724.UP.FTS.B,
14.48%,
2/15/27
....
4,876
4,838
FW2634262.UP.FTS.B,
14.51%,
2/15/27
..
15,048
14,935
FW2635512.UP.FTS.B,
14.58%,
2/15/27
..
16,939
16,811
L2637603.UP.FTS.B,
14.83%,
2/15/27
....
5,998
5,952
FW2631558.UP.FTS.B,
15.18%,
2/15/27
..
14,122
14,015
L2632505.UP.FTS.B,
15.26%,
2/15/27
....
9,416
9,345
L2635221.UP.FTS.B,
15.45%,
2/15/27
....
6,970
6,917
FW2633986.UP.FTS.B,
15.46%,
2/15/27
..
23,660
22,297
FW2631951.UP.FTS.B,
15.91%,
2/15/27
..
8,207
8,117
FW2634727.UP.FTS.B,
16.18%,
2/15/27
..
6,223
6,154
L2636525.UP.FTS.B,
16.23%,
2/15/27
....
13,217
13,123
L2635424.UP.FTS.B,
16.37%,
2/15/27
....
37,726
37,307
FW2633906.UP.FTS.B,
16.65%,
2/15/27
..
2,076
2,053
L2610013.UP.FTS.B,
16.95%,
2/15/27
....
3,773
3,731
L2630011.UP.FTS.B,
16.96%,
2/15/27
....
4,720
4,684
L2631718.UP.FTS.B,
16.99%,
2/15/27
....
4,720
4,668
L2636076.UP.FTS.B,
17.15%,
2/15/27
....
7,082
7,003
L2635318.UP.FTS.B,
17.22%,
2/15/27
....
8,155
8,091
FW2635945.UP.FTS.B,
17.32%,
2/15/27
..
5,194
5,123
L2633537.UP.FTS.B,
17.39%,
2/15/27
....
9,445
9,340
FW2635975.UP.FTS.B,
18.14%,
2/15/27
..
14,372
14,212
FW2635531.UP.FTS.B,
18.53%,
2/15/27
..
11,163
11,039
FW2632933.UP.FTS.B,
18.59%,
2/15/27
..
9,461
9,356
FW2632544.UP.FTS.B,
18.69%,
2/15/27
..
23,657
23,335
FW2634470.UP.FTS.B,
18.69%,
2/15/27
..
4,821
4,546
L2610892.UP.FTS.B,
18.7%,
2/15/27
....
14,188
13,995
L2634353.UP.FTS.B,
19.06%,
2/15/27
....
9,382
9,252
FW2634297.UP.FTS.B,
19.29%,
2/15/27
..
12,501
12,362
FW2629363.UP.FTS.B,
19.37%,
2/15/27
..
5,635
5,557
L2635892.UP.FTS.B,
19.39%,
2/15/27
....
947
937
L2633453.UP.FTS.B,
19.72%,
2/15/27
....
14,214
14,056
L2632256.UP.FTS.B,
19.82%,
2/15/27
....
948
937
FW2634280.UP.FTS.B,
19.89%,
2/15/27
..
25,112
24,769
L2632250.UP.FTS.B,
19.92%,
2/15/27
....
5,768
5,437
L2634883.UP.FTS.B,
19.98%,
2/15/27
....
7,616
7,519
L2637386.UP.FTS.B,
20.16%,
2/15/27
....
7,111
7,014
L2635069.UP.FTS.B,
20.19%,
2/15/27
....
11,611
11,511
L2635013.UP.FTS.B,
20.25%,
2/15/27
....
5,691
5,613
L2633648.UP.FTS.B,
20.29%,
2/15/27
....
9,701
9,590
L2636615.UP.FTS.B,
20.46%,
2/15/27
....
2,068
2,035
FW2632574.UP.FTS.B,
20.97%,
2/15/27
..
14,722
14,503
L2632212.UP.FTS.B,
21.09%,
2/15/27
....
3,984
173
FW2637242.UP.FTS.B,
21.26%,
2/15/27
..
8,546
8,451
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
205
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
L2630116.UP.FTS.B,
21.26%,
2/15/27
....
$
5,697
$
5,620
L2637476.UP.FTS.B,
21.48%,
2/15/27
....
10,258
10,118
L2626721.UP.FTS.B,
21.64%,
2/15/27
....
4,601
4,534
L2633936.UP.FTS.B,
21.75%,
2/15/27
....
3,136
3,107
FW2631142.UP.FTS.B,
21.84%,
2/15/27
..
3,041
3,014
L2636132.UP.FTS.B,
21.91%,
2/15/27
....
9,504
9,418
FW2632067.UP.FTS.B,
22.05%,
2/15/27
..
3,235
474
FW2634641.UP.FTS.B,
22.06%,
2/15/27
..
13,308
13,188
L2636088.UP.FTS.B,
22.06%,
2/15/27
....
1,236
1,216
L2636740.UP.FTS.B,
22.15%,
2/15/27
....
951
942
L2633500.UP.FTS.B,
22.28%,
2/15/27
....
4,837
4,586
FW2635428.UP.FTS.B,
22.3%,
2/15/27
...
15,594
15,454
L2633766.UP.FTS.B,
22.63%,
2/15/27
....
5,315
5,039
L2631928.UP.FTS.B,
22.74%,
2/15/27
....
7,135
7,071
L2636620.UP.FTS.B,
22.94%,
2/15/27
....
7,718
7,316
FW2632621.UP.FTS.B,
22.95%,
2/15/27
..
5,139
5,092
FW2632848.UP.FTS.B,
22.95%,
2/15/27
..
5,290
5,012
L2635474.UP.FTS.B,
23.01%,
2/15/27
....
7,614
7,545
FW2636073.UP.FTS.B,
23.1%,
2/15/27
...
4,759
4,716
L2632041.UP.FTS.B,
23.26%,
2/15/27
....
11,424
11,268
L2631781.UP.FTS.B,
23.47%,
2/15/27
....
2,789
2,743
FW2633249.UP.FTS.B,
23.49%,
2/15/27
..
5,238
5,190
FW2631473.UP.FTS.B,
23.57%,
2/15/27
..
1,072
1,017
FW2634082.UP.FTS.B,
24.01%,
2/15/27
..
5,717
5,666
L2635262.UP.FTS.B,
24.04%,
2/15/27
....
8,576
8,499
L2633254.UP.FTS.B,
24.29%,
2/15/27
....
20,781
20,496
FW2632068.UP.FTS.B,
24.31%,
2/15/27
..
830
819
L2632195.UP.FTS.B,
24.38%,
2/15/27
....
1,792
1,767
FW2628626.UP.FTS.B,
24.39%,
2/15/27
..
9,653
9,151
FW2632915.UP.FTS.B,
24.46%,
2/15/27
..
14,492
14,361
L2629665.UP.FTS.B,
24.47%,
2/15/27
....
6,725
6,667
FW2634252.UP.FTS.B,
24.49%,
2/15/27
..
6,102
6,047
L2633167.UP.FTS.B,
24.54%,
2/15/27
....
5,268
5,201
L2636078.UP.FTS.B,
24.6%,
2/15/27
....
14,399
14,268
FW2632893.UP.FTS.B,
24.67%,
2/15/27
..
20,790
20,601
FW2636783.UP.FTS.B,
24.67%,
2/15/27
..
10,395
10,301
FW2632707.UP.FTS.B,
24.74%,
2/15/27
..
5,246
5,198
L2631848.UP.FTS.B,
24.9%,
2/15/27
....
5,745
5,693
L2627623.UP.FTS.B,
24.92%,
2/15/27
....
4,579
4,537
L2634268.UP.FTS.B,
25.05%,
2/15/27
....
2,290
2,269
FW2635941.UP.FTS.B,
25.09%,
2/15/27
..
5,248
5,200
L2637318.UP.FTS.B,
25.13%,
2/15/27
....
3,149
3,106
L2631220.UP.FTS.B,
25.21%,
2/15/27
....
2,863
2,837
L2635044.UP.FTS.B,
25.22%,
2/15/27
....
1,144
1,133
L2634635.UP.FTS.B,
25.23%,
2/15/27
....
7,592
7,521
L2633582.UP.FTS.B,
25.26%,
2/15/27
....
1,909
1,891
L2632822.UP.FTS.B,
25.28%,
2/15/27
....
1,432
1,419
L2634539.UP.FTS.B,
25.3%,
2/15/27
....
1,813
1,797
L2630368.UP.FTS.B,
25.31%,
2/15/27
....
2,768
2,743
L2632154.UP.FTS.B,
25.31%,
2/15/27
....
22,429
22,225
FW2631380.UP.FTS.B,
25.37%,
2/15/27
..
17,643
73
L2633915.UP.FTS.B,
25.37%,
2/15/27
....
1,623
1,600
L2633587.UP.FTS.B,
25.38%,
2/15/27
....
1,623
1,608
L2637368.UP.FTS.B,
25.39%,
2/15/27
....
1,909
1,883
L2635003.UP.FTS.B,
25.4%,
2/15/27
....
10,018
9,932
L2636370.UP.FTS.B,
25.4%,
2/15/27
....
2,864
2,837
L2631133.UP.FTS.B,
25.41%,
2/15/27
....
1,432
1,412
L2631893.UP.FTS.B,
25.41%,
2/15/27
....
3,451
3,420
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
L2636222.UP.FTS.B,
25.41%,
2/15/27
....
$
19,090
$
18,917
L2605748.UP.FTS.B,
25.45%,
2/15/27
....
1,718
1,703
L2631820.UP.FTS.B,
25.45%,
2/15/27
....
8,687
8,608
L2634591.UP.FTS.B,
25.45%,
2/15/27
....
1,050
1,040
L2632552.UP.FTS.B,
25.56%,
2/15/27
....
3,151
3,122
L2633900.UP.FTS.B,
25.57%,
2/15/27
....
4,049
3,837
L2629160.UP.FTS.B,
25.61%,
2/15/27
....
7,161
7,095
FW2631141.UP.FTS.B,
25.72%,
2/15/27
..
12,509
12,395
FW2632953.UP.FTS.B,
25.74%,
2/15/27
..
5,204
5,160
L2634677.UP.FTS.B,
25.78%,
2/15/27
....
3,820
3,785
FW2635210.UP.FTS.B,
25.81%,
2/15/27
..
5,730
5,678
L2636195.UP.FTS.B,
25.92%,
2/15/27
....
14,326
14,196
FW2634765.UP.FTS.B,
26.22%,
2/15/27
..
17,198
17,041
L2635199.UP.FTS.B,
26.23%,
2/15/27
....
6,019
5,964
FW2635628.UP.FTS.B,
26.36%,
2/15/27
..
2,726
773
FW2634760.UP.FTS.B,
26.38%,
2/15/27
..
5,638
5,587
L2634070.UP.FTS.B,
26.45%,
2/15/27
....
23,796
23,579
FW2632882.UP.FTS.B,
26.51%,
2/15/27
..
2,123
2,012
L2635219.UP.FTS.B,
26.59%,
2/15/27
....
4,015
3,978
FW2637086.UP.FTS.B,
26.68%,
2/15/27
..
3,155
3,126
FW2632673.UP.FTS.B,
27.01%,
2/15/27
..
2,102
2,082
FW2637233.UP.FTS.B,
27.15%,
2/15/27
..
17,216
17,059
FW2631843.UP.FTS.B,
27.26%,
2/15/27
..
4,687
4,644
FW2637044.UP.FTS.B,
27.28%,
2/15/27
..
1,915
1,890
FW2633233.UP.FTS.B,
27.31%,
2/15/27
..
8,227
8,152
L2631102.UP.FTS.B,
27.44%,
2/15/27
....
3,141
3,108
FW2634310.UP.FTS.B,
27.59%,
2/15/27
..
7,081
7,016
FW2632247.UP.FTS.B,
27.6%,
2/15/27
...
10,540
10,451
FW2632183.UP.FTS.B,
27.72%,
2/15/27
..
6,700
6,638
FW2636178.UP.FTS.B,
28%,
2/15/27
....
5,744
5,692
FW2632116.UP.FTS.B,
28.1%,
2/15/27
...
9,575
9,487
FW2634627.UP.FTS.B,
28.11%,
2/15/27
..
5,745
5,692
FW2635226.UP.FTS.B,
28.22%,
2/15/27
..
2,107
2,088
FW2634686.UP.FTS.B,
28.47%,
2/15/27
..
5,615
5,559
FW2587827.UP.FTS.B,
28.49%,
2/15/27
..
11,481
11,374
FW2633732.UP.FTS.B,
28.73%,
2/15/27
..
7,186
7,120
FW2635435.UP.FTS.B,
28.75%,
2/15/27
..
1,885
1,866
FW2634423.UP.FTS.B,
28.99%,
2/15/27
..
19,168
18,992
FW2636790.UP.FTS.B,
29.27%,
2/15/27
..
21,600
6,378
FW2632227.UP.FTS.B,
29.31%,
2/15/27
..
19,175
18,998
FW2634087.UP.FTS.B,
29.37%,
2/15/27
..
5,651
5,593
FW2636066.UP.FTS.B,
29.41%,
2/15/27
..
3,102
3,066
FW2633754.UP.FTS.B,
29.46%,
2/15/27
..
28,598
28,322
FW2600453.UP.FTS.B,
29.54%,
2/15/27
..
3,933
589
FW2635622.UP.FTS.B,
29.54%,
2/15/27
..
4,642
4,579
FW2632506.UP.FTS.B,
29.8%,
2/15/27
...
5,492
5,443
FW2636841.UP.FTS.B,
30.04%,
2/15/27
..
26,098
25,857
FW2633450.UP.FTS.B,
30.19%,
2/15/27
..
1,631
1,616
FW2632167.UP.FTS.B,
30.21%,
2/15/27
..
960
951
FW2631008.UP.FTS.B,
30.31%,
2/15/27
..
949
939
FW2636372.UP.FTS.B,
30.35%,
2/15/27
..
5,759
5,706
FW2632070.UP.FTS.B,
30.58%,
2/15/27
..
3,060
3,031
FW2634209.UP.FTS.B,
30.68%,
2/15/27
..
1,000
22
FW2631994.UP.FTS.B,
30.71%,
2/15/27
..
5,025
4,974
FW2631249.UP.FTS.B,
30.81%,
2/15/27
..
1,177
1,163
FW2631494.UP.FTS.B,
30.85%,
2/15/27
..
4,321
4,281
FW2635126.UP.FTS.B,
30.85%,
2/15/27
..
1,729
1,713
FW2629864.UP.FTS.B,
30.9%,
2/15/27
...
2,209
2,188
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
206
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
FW2633675.UP.FTS.B,
30.91%,
2/15/27
..
$
1,056
$
1,047
FW2634617.UP.FTS.B,
30.93%,
2/15/27
..
3,640
3,457
FW2631125.UP.FTS.B,
30.96%,
2/15/27
..
936
925
FW2631968.UP.FTS.B,
30.98%,
2/15/27
..
6,790
6,711
FW2636445.UP.FTS.B,
31%,
2/15/27
....
1,729
1,713
FW2631988.UP.FTS.B,
31.03%,
2/15/27
..
2,332
686
FW2635952.UP.FTS.B,
31.06%,
2/15/27
..
1,537
1,523
FW2633314.UP.FTS.B,
31.08%,
2/15/27
..
1,016
1,005
FW2635142.UP.FTS.B,
31.1%,
2/15/27
...
6,100
424
FW2635281.UP.FTS.B,
31.1%,
2/15/27
...
5,279
5,230
FW2637419.UP.FTS.B,
31.1%,
2/15/27
...
3,266
3,236
FW2633604.UP.FTS.B,
31.13%,
2/15/27
..
2,498
2,474
FW2635800.UP.FTS.B,
31.13%,
2/15/27
..
4,899
4,854
FW2637089.UP.FTS.B,
31.23%,
2/15/27
..
8,070
7,995
FW2635066.UP.FTS.B,
31.24%,
2/15/27
..
2,451
2,413
FW2633883.UP.FTS.B,
31.33%,
2/15/27
..
3,171
3,141
FW2634457.UP.FTS.B,
31.36%,
2/15/27
..
3,642
3,458
FW2632904.UP.FTS.B,
31.38%,
2/15/27
..
3,557
3,524
FW2632054.UP.FTS.B,
31.53%,
2/15/27
..
4,198
1,237
FW2636781.UP.FTS.B,
31.59%,
2/15/27
..
3,652
3,618
FW2634910.UP.FTS.B,
32.02%,
2/15/27
..
3,365
3,334
FW2635681.UP.FTS.B,
32.24%,
2/15/27
..
3,769
3,720
FW2633938.UP.FTS.B,
32.66%,
2/15/27
..
7,700
532
FW2631740.UP.FTS.B,
34.39%,
2/15/27
..
3,823
3,630
L2644100.UP.FTS.B,
5.16%,
2/16/27
....
5,768
5,752
L2640422.UP.FTS.B,
7.19%,
2/16/27
....
5,575
5,550
FW2639217.UP.FTS.B,
7.48%,
2/16/27
...
12,551
12,495
L2638196.UP.FTS.B,
7.54%,
2/16/27
....
17,310
17,266
L2642691.UP.FTS.B,
8.69%,
2/16/27
....
30,651
30,516
L2644170.UP.FTS.B,
8.74%,
2/16/27
....
25,623
25,512
L2644467.UP.FTS.B,
8.99%,
2/16/27
....
2,345
2,331
L2641249.UP.FTS.B,
9.09%,
2/16/27
....
13,705
13,646
L2643996.UP.FTS.B,
9.54%,
2/16/27
....
13,995
13,935
FW2640044.UP.FTS.B,
9.77%,
2/16/27
...
5,465
5,441
FW2639996.UP.FTS.B,
9.85%,
2/16/27
...
7,344
7,293
L2638227.UP.FTS.B,
10.2%,
2/16/27
....
14,011
13,951
L2644692.UP.FTS.B,
10.37%,
2/16/27
....
3,737
3,722
L2628258.UP.FTS.B,
10.4%,
2/16/27
....
15,255
15,161
FW2643555.UP.FTS.B,
10.53%,
2/16/27
..
46,714
46,517
L2639939.UP.FTS.B,
10.73%,
2/16/27
....
13,534
13,444
L2642767.UP.FTS.B,
10.84%,
2/16/27
....
12,062
11,983
L2642462.UP.FTS.B,
10.86%,
2/16/27
....
6,546
6,503
FW2639271.UP.FTS.B,
10.98%,
2/16/27
..
46,864
46,576
FW2636951.UP.FTS.B,
11.21%,
2/16/27
..
15,251
15,151
L2643884.UP.FTS.B,
11.41%,
2/16/27
....
7,020
6,974
L2640107.UP.FTS.B,
11.57%,
2/16/27
....
10,017
9,952
L2642580.UP.FTS.B,
11.66%,
2/16/27
....
3,277
3,256
FW2644262.UP.FTS.B,
11.83%,
2/16/27
..
9,366
9,305
L2642829.UP.FTS.B,
11.96%,
2/16/27
....
20,047
19,916
L2642410.UP.FTS.B,
12.13%,
2/16/27
....
12,859
12,759
L2643133.UP.FTS.B,
12.13%,
2/16/27
....
10,256
10,189
L2640589.UP.FTS.B,
12.31%,
2/16/27
....
46,864
46,561
L2637999.UP.FTS.B,
12.45%,
2/16/27
....
10,496
10,428
L2644043.UP.FTS.B,
12.51%,
2/16/27
....
4,808
4,773
FW2642297.UP.FTS.B,
12.63%,
2/16/27
..
9,003
8,945
FW2641042.UP.FTS.B,
12.73%,
2/16/27
..
1,126
1,118
FW2640270.UP.FTS.B,
13.17%,
2/16/27
..
14,345
13,530
FW2644450.UP.FTS.B,
13.29%,
2/16/27
..
1,408
1,399
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
L2641626.UP.FTS.B,
13.94%,
2/16/27
....
$
940
$
934
L2639543.UP.FTS.B,
14.06%,
2/16/27
....
9,399
9,339
FW2641444.UP.FTS.B,
14.17%,
2/16/27
..
6,110
6,072
L2643434.UP.FTS.B,
14.29%,
2/16/27
....
9,356
9,296
FW2639288.UP.FTS.B,
14.3%,
2/16/27
...
15,220
15,123
L2640031.UP.FTS.B,
14.45%,
2/16/27
....
9,404
9,345
FW2637881.UP.FTS.B,
14.54%,
2/16/27
..
5,639
5,603
L2637807.UP.FTS.B,
14.59%,
2/16/27
....
14,045
13,955
L2643572.UP.FTS.B,
14.72%,
2/16/27
....
1,882
1,870
L2639037.UP.FTS.B,
14.81%,
2/16/27
....
18,817
18,698
L2641778.UP.FTS.B,
14.87%,
2/16/27
....
41,971
41,706
FW2640160.UP.FTS.B,
14.88%,
2/16/27
..
21,644
21,508
L2641628.UP.FTS.B,
14.9%,
2/16/27
....
11,011
10,941
FW2644643.UP.FTS.B,
15%,
2/16/27
....
4,141
4,115
L2644502.UP.FTS.B,
15.74%,
2/16/27
....
20,261
20,135
L2643245.UP.FTS.B,
15.83%,
2/16/27
....
20,450
20,323
L2642945.UP.FTS.B,
15.91%,
2/16/27
....
1,414
1,405
FW2643582.UP.FTS.B,
16.21%,
2/16/27
..
18,852
18,669
FW2637690.UP.FTS.B,
16.3%,
2/16/27
...
6,110
6,072
FW2643607.UP.FTS.B,
16.31%,
2/16/27
..
47,152
46,697
FW2638305.UP.FTS.B,
16.48%,
2/16/27
..
10,124
10,033
L2641861.UP.FTS.B,
16.53%,
2/16/27
....
19,792
19,579
L2639711.UP.FTS.B,
16.7%,
2/16/27
.....
1,510
1,495
L2639647.UP.FTS.B,
17.04%,
2/16/27
....
9,441
9,350
L2640734.UP.FTS.B,
17.15%,
2/16/27
....
47,210
46,757
FW2641664.UP.FTS.B,
17.29%,
2/16/27
..
5,555
5,501
L2643228.UP.FTS.B,
17.64%,
2/16/27
....
4,724
4,679
L2641429.UP.FTS.B,
17.81%,
2/16/27
....
12,286
12,169
FW2643031.UP.FTS.B,
17.82%,
2/16/27
..
35,914
35,695
L2641792.UP.FTS.B,
17.85%,
2/16/27
....
4,782
4,509
FW2641155.UP.FTS.B,
18.14%,
2/16/27
..
5,201
5,138
L2642906.UP.FTS.B,
18.21%,
2/16/27
....
47,283
46,718
L2638277.UP.FTS.B,
18.32%,
2/16/27
....
4,731
4,686
L2643141.UP.FTS.B,
18.53%,
2/16/27
....
20,635
20,431
FW2642517.UP.FTS.B,
18.63%,
2/16/27
..
10,219
10,122
L2640308.UP.FTS.B,
18.76%,
2/16/27
....
33,123
32,729
FW2639528.UP.FTS.B,
18.78%,
2/16/27
..
39,818
39,576
FW2640157.UP.FTS.B,
18.91%,
2/16/27
..
10,057
9,959
L2639156.UP.FTS.B,
18.92%,
2/16/27
....
23,665
23,440
L2607183.UP.FTS.B,
19.09%,
2/16/27
....
19,068
18,903
FW2643386.UP.FTS.B,
19.11%,
2/16/27
..
3,603
3,567
FW2637954.UP.FTS.B,
19.39%,
2/16/27
..
6,157
6,084
L2640102.UP.FTS.B,
19.59%,
2/16/27
....
24,634
24,401
L2642912.UP.FTS.B,
19.59%,
2/16/27
....
18,727
18,545
L2642762.UP.FTS.B,
19.61%,
2/16/27
....
2,274
2,247
L2640760.UP.FTS.B,
19.65%,
2/16/27
....
4,480
4,431
L2637788.UP.FTS.B,
19.66%,
2/16/27
....
3,127
3,090
L2644725.UP.FTS.B,
19.78%,
2/16/27
....
9,453
9,340
L2643324.UP.FTS.B,
19.84%,
2/16/27
....
45,059
44,606
L2639353.UP.FTS.B,
19.93%,
2/16/27
....
28,542
28,292
FW2639991.UP.FTS.B,
19.94%,
2/16/27
..
2,844
2,810
L2639587.UP.FTS.B,
20.1%,
2/16/27
....
3,792
3,747
FW2640938.UP.FTS.B,
20.16%,
2/16/27
..
10,335
10,262
L2644661.UP.FTS.B,
20.31%,
2/16/27
....
2,255
2,227
L2644267.UP.FTS.B,
20.32%,
2/16/27
....
948
943
L2643431.UP.FTS.B,
20.38%,
2/16/27
....
13,356
13,210
L2631654.UP.FTS.B,
20.62%,
2/16/27
....
21,252
21,102
FW2644103.UP.FTS.B,
20.8%,
2/16/27
...
7,197
6,790
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
207
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
FW2639130.UP.FTS.B,
21.01%,
2/16/27
..
$
3,797
$
3,770
L2638809.UP.FTS.B,
21.09%,
2/16/27
....
5,759
5,468
FW2640179.UP.FTS.B,
21.11%,
2/16/27
..
4,175
4,145
FW2642916.UP.FTS.B,
21.2%,
2/16/27
...
14,121
13,949
FW2638739.UP.FTS.B,
21.34%,
2/16/27
..
2,849
2,829
L2640498.UP.FTS.B,
21.39%,
2/16/27
....
9,497
9,430
L2639355.UP.FTS.B,
21.49%,
2/16/27
....
3,324
3,285
FW2641696.UP.FTS.B,
21.58%,
2/16/27
..
3,599
3,563
L2638952.UP.FTS.B,
21.6%,
2/16/27
....
26,897
26,571
FW2640087.UP.FTS.B,
21.67%,
2/16/27
..
19,667
19,528
FW2638136.UP.FTS.B,
21.78%,
2/16/27
..
7,602
7,548
FW2643646.UP.FTS.B,
21.86%,
2/16/27
..
15,300
15,193
FW2644820.UP.FTS.B,
21.87%,
2/16/27
..
6,652
6,606
L2641584.UP.FTS.B,
21.92%,
2/16/27
....
47,874
47,362
L2637535.UP.FTS.B,
21.95%,
2/16/27
....
27,942
27,746
L2641532.UP.FTS.B,
22.02%,
2/16/27
....
6,559
6,513
L2641233.UP.FTS.B,
22.03%,
2/16/27
....
16,413
16,301
FW2641686.UP.FTS.B,
22.07%,
2/16/27
..
3,137
3,100
L2631819.UP.FTS.B,
22.11%,
2/16/27
....
28,001
27,781
L2637903.UP.FTS.B,
22.13%,
2/16/27
....
11,314
11,177
L2640343.UP.FTS.B,
22.15%,
2/16/27
....
2,779
2,756
FW2640578.UP.FTS.B,
22.42%,
2/16/27
..
891
882
L2640051.UP.FTS.B,
22.42%,
2/16/27
....
8,580
8,521
L2640329.UP.FTS.B,
22.77%,
2/16/27
....
4,186
4,157
L2639752.UP.FTS.B,
22.85%,
2/16/27
....
47,576
47,020
L2640849.UP.FTS.B,
22.86%,
2/16/27
....
3,654
3,470
FW2643850.UP.FTS.B,
23.05%,
2/16/27
..
14,227
14,125
L2644478.UP.FTS.B,
23.24%,
2/16/27
....
19,044
18,911
FW2641930.UP.FTS.B,
23.25%,
2/16/27
..
9,906
9,791
FW2640017.UP.FTS.B,
23.28%,
2/16/27
..
47,629
47,299
FW2639536.UP.FTS.B,
23.38%,
2/16/27
..
11,100
10,996
L2633805.UP.FTS.B,
23.55%,
2/16/27
....
5,711
5,672
L2636952.UP.FTS.B,
23.58%,
2/16/27
....
9,524
9,458
L2640906.UP.FTS.B,
23.61%,
2/16/27
....
5,685
5,643
FW2639691.UP.FTS.B,
23.69%,
2/16/27
..
17,336
17,216
L2644610.UP.FTS.B,
23.76%,
2/16/27
....
2,259
661
FW2643737.UP.FTS.B,
23.79%,
2/16/27
..
15,179
15,063
L2640669.UP.FTS.B,
23.79%,
2/16/27
....
14,446
13,722
L2643173.UP.FTS.B,
23.83%,
2/16/27
....
4,746
4,690
FW2639280.UP.FTS.B,
23.91%,
2/16/27
..
2,096
2,082
L2641033.UP.FTS.B,
24.08%,
2/16/27
....
1,429
1,419
L2644184.UP.FTS.B,
24.14%,
2/16/27
....
8,450
8,371
FW2638182.UP.FTS.B,
24.2%,
2/16/27
...
4,783
4,742
L2643831.UP.FTS.B,
24.23%,
2/16/27
....
4,334
4,116
FW2641835.UP.FTS.B,
24.33%,
2/16/27
..
9,533
9,422
L2638762.UP.FTS.B,
24.36%,
2/16/27
....
3,205
3,181
L2642186.UP.FTS.B,
24.42%,
2/16/27
....
2,097
2,083
L2638731.UP.FTS.B,
24.44%,
2/16/27
....
3,814
3,787
L2642402.UP.FTS.B,
24.44%,
2/16/27
....
12,394
12,309
FW2643566.UP.FTS.B,
24.68%,
2/16/27
..
3,895
587
FW2641976.UP.FTS.B,
24.71%,
2/16/27
..
12,589
12,503
L2641879.UP.FTS.B,
24.74%,
2/16/27
....
6,000
427
L2637710.UP.FTS.B,
24.83%,
2/16/27
....
4,200
299
L2638887.UP.FTS.B,
24.84%,
2/16/27
....
1,908
1,895
L2635905.UP.FTS.B,
24.87%,
2/16/27
....
2,083
2,068
L2639245.UP.FTS.B,
24.92%,
2/16/27
....
2,771
42
L2643360.UP.FTS.B,
24.93%,
2/16/27
....
3,148
3,126
L2642616.UP.FTS.B,
24.96%,
2/16/27
....
1,264
359
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
L2642235.UP.FTS.B,
24.97%,
2/16/27
....
$
1,431
$
1,421
L2640445.UP.FTS.B,
25.03%,
2/16/27
....
3,054
3,033
FW2642257.UP.FTS.B,
25.15%,
2/16/27
..
9,471
9,401
FW2640811.UP.FTS.B,
25.17%,
2/16/27
..
28,627
28,431
L2638208.UP.FTS.B,
25.18%,
2/16/27
....
2,386
2,369
L2644708.UP.FTS.B,
25.19%,
2/16/27
....
4,390
4,360
L2639167.UP.FTS.B,
25.24%,
2/16/27
....
4,581
4,549
L2640859.UP.FTS.B,
25.24%,
2/16/27
....
4,091
1,198
L2629944.UP.FTS.B,
25.26%,
2/16/27
....
1,145
1,137
L2639868.UP.FTS.B,
25.27%,
2/16/27
....
1,060
1,007
L2639974.UP.FTS.B,
25.28%,
2/16/27
....
2,493
2,472
L2644756.UP.FTS.B,
25.29%,
2/16/27
....
2,474
2,457
FW2644569.UP.FTS.B,
25.34%,
2/16/27
..
9,549
9,484
L2640772.UP.FTS.B,
25.34%,
2/16/27
....
1,556
1,479
L2640475.UP.FTS.B,
25.37%,
2/16/27
....
3,245
3,223
L2641882.UP.FTS.B,
25.38%,
2/16/27
....
2,506
2,473
L2642246.UP.FTS.B,
25.42%,
2/16/27
....
2,100
2,085
L2637328.UP.FTS.B,
25.43%,
2/16/27
....
5,823
5,783
L2643718.UP.FTS.B,
25.45%,
2/16/27
....
1,336
1,327
L2638486.UP.FTS.B,
25.48%,
2/16/27
....
9,832
9,765
L2643306.UP.FTS.B,
25.49%,
2/16/27
....
18,215
17,335
L2644251.UP.FTS.B,
25.49%,
2/16/27
....
1,149
1,141
L2643938.UP.FTS.B,
25.5%,
2/16/27
....
1,432
1,422
L2643974.UP.FTS.B,
25.5%,
2/16/27
....
3,453
3,430
L2644656.UP.FTS.B,
25.52%,
2/16/27
....
3,723
3,698
L2638794.UP.FTS.B,
25.6%,
2/16/27
....
12,412
12,327
FW2590576.UP.FTS.B,
25.69%,
2/16/27
..
5,445
175
L2638678.UP.FTS.B,
25.84%,
2/16/27
....
9,550
9,485
FW2639725.UP.FTS.B,
25.86%,
2/16/27
..
10,316
10,246
FW2642963.UP.FTS.B,
25.88%,
2/16/27
..
4,584
4,553
FW2634599.UP.FTS.B,
26.05%,
2/16/27
..
15,571
15,465
L2640846.UP.FTS.B,
26.29%,
2/16/27
....
23,888
23,725
FW2639867.UP.FTS.B,
26.3%,
2/16/27
...
1,911
1,898
FW2642156.UP.FTS.B,
26.37%,
2/16/27
..
2,682
2,664
FW2642879.UP.FTS.B,
26.39%,
2/16/27
..
7,645
7,593
FW2640075.UP.FTS.B,
26.63%,
2/16/27
..
1,947
1,851
L2640994.UP.FTS.B,
27.05%,
2/16/27
....
19,127
18,998
FW2641067.UP.FTS.B,
27.08%,
2/16/27
..
6,672
6,625
FW2638017.UP.FTS.B,
27.09%,
2/16/27
..
8,225
8,169
FW2640323.UP.FTS.B,
27.2%,
2/16/27
...
6,577
6,531
L2644222.UP.FTS.B,
27.35%,
2/16/27
....
6,410
6,366
FW2636711.UP.FTS.B,
27.4%,
2/16/27
...
9,567
9,503
FW2641807.UP.FTS.B,
27.73%,
2/16/27
..
11,006
10,932
FW2639797.UP.FTS.B,
28.19%,
2/16/27
..
2,681
2,663
FW2644724.UP.FTS.B,
28.24%,
2/16/27
..
47,843
47,519
FW2643525.UP.FTS.B,
28.34%,
2/16/27
..
10,918
10,845
FW2643821.UP.FTS.B,
28.37%,
2/16/27
..
6,225
6,184
FW2644630.UP.FTS.B,
28.55%,
2/16/27
..
9,573
9,508
FW2639053.UP.FTS.B,
29.06%,
2/16/27
..
3,245
958
FW2642505.UP.FTS.B,
29.14%,
2/16/27
..
2,025
2,012
FW2644598.UP.FTS.B,
29.38%,
2/16/27
..
10,451
10,382
FW2642765.UP.FTS.B,
29.42%,
2/16/27
..
9,751
2,876
FW2638694.UP.FTS.B,
29.47%,
2/16/27
..
3,358
3,237
FW2643411.UP.FTS.B,
29.58%,
2/16/27
..
5,109
769
FW2638733.UP.FTS.B,
29.69%,
2/16/27
..
4,124
4,097
FW2637102.UP.FTS.B,
30%,
2/16/27
....
10,362
10,294
FW2639546.UP.FTS.B,
30.02%,
2/16/27
..
1,300
91
FW2643620.UP.FTS.B,
30.03%,
2/16/27
..
1,355
1,280
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
208
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
FW2641230.UP.FTS.B,
30.11%,
2/16/27
..
$
2,296
$
2,276
FW2639696.UP.FTS.B,
30.14%,
2/16/27
..
960
953
FW2640894.UP.FTS.B,
30.14%,
2/16/27
..
26,102
25,929
FW2644440.UP.FTS.B,
30.21%,
2/16/27
..
1,248
1,239
FW2641475.UP.FTS.B,
30.33%,
2/16/27
..
1,580
1,568
FW2642574.UP.FTS.B,
30.52%,
2/16/27
..
18,379
18,160
FW2639097.UP.FTS.B,
30.54%,
2/16/27
..
960
954
FW2641049.UP.FTS.B,
30.61%,
2/16/27
..
2,268
672
FW2632545.UP.FTS.B,
30.71%,
2/16/27
..
2,005
1,980
FW2644683.UP.FTS.B,
30.76%,
2/16/27
..
3,000
209
FW2639823.UP.FTS.B,
30.77%,
2/16/27
..
1,387
(8)
FW2644847.UP.FTS.B,
30.77%,
2/16/27
..
1,403
1,388
FW2640492.UP.FTS.B,
30.82%,
2/16/27
..
1,269
375
FW2644628.UP.FTS.B,
30.88%,
2/16/27
..
1,351
1,343
FW2641207.UP.FTS.B,
30.9%,
2/16/27
...
3,265
3,244
FW2643698.UP.FTS.B,
30.91%,
2/16/27
..
6,789
1,021
FW2641966.UP.FTS.B,
30.93%,
2/16/27
..
1,152
1,145
FW2642662.UP.FTS.B,
30.94%,
2/16/27
..
5,186
5,152
FW2641385.UP.FTS.B,
30.96%,
2/16/27
..
1,306
1,291
FW2643800.UP.FTS.B,
31.1%,
2/16/27
...
1,419
1,408
FW2638255.UP.FTS.B,
31.12%,
2/16/27
..
2,196
2,181
FW2641109.UP.FTS.B,
31.12%,
2/16/27
..
42,163
40,097
FW2610188.UP.FTS.B,
31.13%,
2/16/27
..
9,609
9,546
FW2641269.UP.FTS.B,
31.13%,
2/16/27
..
10,990
10,921
FW2644572.UP.FTS.B,
31.14%,
2/16/27
..
19,208
19,082
FW2642792.UP.FTS.B,
31.15%,
2/16/27
..
1,147
1,139
FW2639361.UP.FTS.B,
31.17%,
2/16/27
..
1,345
1,336
FW2638262.UP.FTS.B,
31.18%,
2/16/27
..
2,245
664
FW2638060.UP.FTS.B,
31.21%,
2/16/27
..
2,498
2,481
FW2640012.UP.FTS.B,
31.21%,
2/16/27
..
1,248
369
FW2643874.UP.FTS.B,
31.23%,
2/16/27
..
4,509
4,479
FW2642495.UP.FTS.B,
31.26%,
2/16/27
..
3,582
(12)
FW2623499.UP.FTS.B,
31.32%,
2/16/27
..
13,784
13,105
FW2638899.UP.FTS.B,
31.34%,
2/16/27
..
3,973
3,776
FW2635345.UP.FTS.B,
31.4%,
2/16/27
...
2,306
2,291
FW2638691.UP.FTS.B,
31.42%,
2/16/27
..
9,128
9,069
FW2641390.UP.FTS.B,
31.53%,
2/16/27
..
16,625
16,516
FW2642444.UP.FTS.B,
31.58%,
2/16/27
..
3,865
(32)
FW2643082.UP.FTS.B,
31.96%,
2/16/27
..
1,663
1,649
FW2639818.UP.FTS.B,
33.34%,
2/16/27
..
3,882
3,690
FW2641809.UP.FTS.B,
33.83%,
2/16/27
..
2,023
2,010
L2645179.UP.FTS.B,
6.87%,
2/17/27
....
13,100
13,063
FW2645552.UP.FTS.B,
9.48%,
2/17/27
...
7,464
7,432
L2645113.UP.FTS.B,
10.21%,
2/17/27
....
7,473
7,424
FW2645630.UP.FTS.B,
12.87%,
2/17/27
..
12,120
12,042
L2644980.UP.FTS.B,
12.95%,
2/17/27
....
1,827
1,815
L2645342.UP.FTS.B,
13.93%,
2/17/27
....
28,002
27,821
FW2645588.UP.FTS.B,
15.61%,
2/17/27
..
3,757
3,721
FW2645675.UP.FTS.B,
15.8%,
2/17/27
...
25,632
25,390
FW2645246.UP.FTS.B,
17.78%,
2/17/27
..
4,725
4,670
FW2645832.UP.FTS.B,
18.88%,
2/17/27
..
14,198
14,067
L2645909.UP.FTS.B,
19.06%,
2/17/27
....
4,778
4,732
L2645010.UP.FTS.B,
20.52%,
2/17/27
....
10,435
10,315
FW2642053.UP.FTS.B,
21.61%,
2/17/27
..
3,985
3,958
L2645135.UP.FTS.B,
21.7%,
2/17/27
....
2,090
2,076
FW2645361.UP.FTS.B,
22.1%,
2/17/27
...
24,147
6,817
L2645558.UP.FTS.B,
22.43%,
2/17/27
....
2,746
2,714
L2645378.UP.FTS.B,
22.72%,
2/17/27
....
4,947
4,914
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
L2645573.UP.FTS.B,
22.94%,
2/17/27
....
$
1,862
$
1,839
FW2645248.UP.FTS.B,
23.66%,
2/17/27
..
5,048
5,015
FW2645101.UP.FTS.B,
24.46%,
2/17/27
..
4,290
4,262
L2644940.UP.FTS.B,
25.36%,
2/17/27
....
2,863
2,845
L2645037.UP.FTS.B,
25.41%,
2/17/27
....
2,196
2,182
L2645131.UP.FTS.B,
25.45%,
2/17/27
....
1,322
1,312
L2645504.UP.FTS.B,
26.01%,
2/17/27
....
10,985
10,914
FW2644444.UP.FTS.B,
26.02%,
2/17/27
..
7,716
7,333
L2645397.UP.FTS.B,
26.19%,
2/17/27
....
2,389
2,373
FW2645900.UP.FTS.B,
26.25%,
2/17/27
..
1,911
1,899
FW2645472.UP.FTS.B,
26.31%,
2/17/27
..
16,244
16,139
FW2645571.UP.FTS.B,
26.48%,
2/17/27
..
3,823
3,798
FW2645486.UP.FTS.B,
26.67%,
2/17/27
..
6,483
1,918
FW2645165.UP.FTS.B,
26.81%,
2/17/27
..
1,912
1,900
FW2644890.UP.FTS.B,
27.01%,
2/17/27
..
3,682
1,082
FW2645599.UP.FTS.B,
27.57%,
2/17/27
..
23,923
23,770
FW2644978.UP.FTS.B,
28.18%,
2/17/27
..
10,305
10,237
FW2644973.UP.FTS.B,
28.39%,
2/17/27
..
8,281
8,225
FW2645842.UP.FTS.B,
30.86%,
2/17/27
..
3,031
3,009
FW2645763.UP.FTS.B,
30.98%,
2/17/27
..
1,441
1,432
FW2644961.UP.FTS.B,
31.22%,
2/17/27
..
3,943
(43)
FW2645290.UP.FTS.B,
31.68%,
2/17/27
..
8,362
8,310
L1874161.UP.FTS.B,
22.65%,
3/18/27
....
4,817
727
L1873293.UP.FTS.B,
23.76%,
3/18/27
....
1,696
1,630
FW1873439.UP.FTS.B,
25.66%,
3/18/27
..
1,336
1,325
L1874548.UP.FTS.B,
26.04%,
3/18/27
....
5,937
5,885
FW1873756.UP.FTS.B,
27.59%,
3/18/27
..
3,745
3,549
FW1872134.UP.FTS.B,
29.12%,
3/18/27
..
4,758
4,722
FW1873137.UP.FTS.B,
30.77%,
3/18/27
..
1,543
1,532
FW1874317.UP.FTS.B,
30.79%,
3/18/27
..
4,599
4,567
FW1868928.UP.FTS.B,
30.91%,
3/18/27
..
9,930
9,425
FW1867639.UP.FTS.B,
31%,
3/18/27
....
2,977
2,956
FW1872958.UP.FTS.B,
31.09%,
3/18/27
..
4,073
3,943
FW1874385.UP.FTS.B,
31.32%,
3/18/27
..
2,954
2,931
L2006933.UP.FTS.B,
23.7%,
4/09/27
....
4,767
4,717
L1984143.UP.FTS.B,
25.48%,
4/09/27
....
7,564
1,103
L2004842.UP.FTS.B,
26.33%,
4/09/27
....
6,567
6,509
FW2009830.UP.FTS.B,
28.06%,
4/09/27
..
24,797
24,629
FW2009768.UP.FTS.B,
29.9%,
4/09/27
...
4,802
2,870
FW2009466.UP.FTS.B,
29.96%,
4/09/27
..
1,612
1,596
FW2008743.UP.FTS.B,
30.92%,
4/09/27
..
1,865
269
FW2009848.UP.FTS.B,
31.08%,
4/09/27
..
19,177
19,001
FW2080454.UP.FTS.B,
15.49%,
4/19/27
..
9,424
9,363
L2071630.UP.FTS.B,
22.65%,
4/19/27
....
6,662
6,324
L2078594.UP.FTS.B,
25.45%,
4/19/27
....
20,248
20,094
FW2076494.UP.FTS.B,
27.89%,
4/19/27
..
5,288
5,248
FW2079282.UP.FTS.B,
30.4%,
4/19/27
...
1,146
1,139
FW2078551.UP.FTS.B,
31.14%,
4/19/27
..
9,884
9,554
L2196990.UP.FTS.B,
14.16%,
5/07/27
....
14,196
14,080
L2196814.UP.FTS.B,
17.8%,
5/07/27
....
14,463
14,346
FW2197884.UP.FTS.B,
20.55%,
5/07/27
..
8,708
8,590
L2187878.UP.FTS.B,
21.23%,
5/07/27
....
48,428
25,450
L2197009.UP.FTS.B,
22.01%,
5/07/27
....
5,747
5,681
L2197075.UP.FTS.B,
24.86%,
5/07/27
....
1,050
623
FW2199514.UP.FTS.B,
25.91%,
5/07/27
..
2,353
2,325
FW2197058.UP.FTS.B,
31%,
5/07/27
....
4,328
4,276
L2194438.UP.FTS.B,
19.48%,
5/08/27
....
5,751
5,673
L2202018.UP.FTS.B,
21.02%,
5/08/27
....
6,766
4,019
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
209
Description
Principal
Amount
Value
Marketplace
Loans
(continued)
Upstart
Network,
Inc.
(continued)
L2201398.UP.FTS.B,
22.49%,
5/08/27
....
$
10,414
$
10,262
L2201738.UP.FTS.B,
22.82%,
5/08/27
....
14,565
14,419
FW2156213.UP.FTS.B,
23.43%,
5/08/27
..
9,108
4,809
FW2205649.UP.FTS.B,
23.84%,
5/08/27
..
3,597
3,561
L2200698.UP.FTS.B,
24.01%,
5/08/27
....
4,302
4,260
FW2201153.UP.FTS.B,
24.4%,
5/08/27
...
13,678
13,531
L2202660.UP.FTS.B,
25.56%,
5/08/27
....
5,850
5,793
L2206165.UP.FTS.B,
26.19%,
5/08/27
....
7,401
7,323
L2205662.UP.FTS.B,
26.26%,
5/08/27
....
7,746
4,616
FW2206271.UP.FTS.B,
30.18%,
5/08/27
..
7,685
7,603
FW2199475.UP.FTS.B,
30.86%,
5/08/27
..
3,946
3,905
FW2202450.UP.FTS.B,
31.05%,
5/08/27
..
2,664
2,645
FW2411320.UP.FTS.B,
10.63%,
6/11/27
..
4,185
4,160
FW2407061.UP.FTS.B,
16.61%,
6/11/27
..
15,396
15,237
L2408543.UP.FTS.B,
21.71%,
6/11/27
....
4,417
4,369
FW2407476.UP.FTS.B,
24.28%,
6/11/27
..
4,416
4,372
FW2411228.UP.FTS.B,
26.37%,
6/11/27
..
3,875
3,836
L2407955.UP.FTS.B,
27%,
6/11/27
......
7,657
7,574
FW2412851.UP.FTS.B,
28.09%,
6/11/27
..
4,423
4,377
FW2410113.UP.FTS.B,
29.34%,
6/11/27
..
2,989
2,958
FW2413380.UP.FTS.B,
30.45%,
6/11/27
..
3,783
3,743
FW2411563.UP.FTS.B,
31.19%,
6/11/27
..
4,100
4,060
FW2412681.UP.FTS.B,
31.21%,
6/11/27
..
1,679
1,661
L2416765.UP.FTS.B,
21.01%,
6/12/27
....
5,382
5,343
FW2419008.UP.FTS.B,
22.47%,
6/12/27
..
3,276
3,246
L2417908.UP.FTS.B,
23.41%,
6/12/27
....
3,752
3,716
FW2415712.UP.FTS.B,
26.64%,
6/12/27
..
1,930
1,914
FW1706254.UP.FTS.B,
26.93%,
7/14/27
..
27,799
8,062
L2631727.UP.FTS.B,
25.43%,
7/15/27
....
12,858
12,758
FW2644039.UP.FTS.B,
16.97%,
7/16/27
..
7,262
7,229
FW2630978.UP.FTS.B,
26.06%,
7/16/27
..
1,070
1,063
FW2638344.UP.FTS.B,
26.96%,
7/16/27
..
2,727
2,711
FW2644291.UP.FTS.B,
28.88%,
7/16/27
..
5,819
5,605
FW2643274.UP.FTS.B,
30.91%,
7/16/27
..
17,339
17,225
L2642277.UP.FTS.B,
22.82%,
7/17/27
....
6,095
6,022
L2642860.UP.FTS.B,
25.01%,
7/17/27
....
4,466
4,437
FW2645345.UP.FTS.B,
29.29%,
7/17/27
..
3,933
3,741
FW2008085.UP.FTS.B,
31.48%,
9/09/27
..
5,114
5,072
L2407212.UP.FTS.B,
7.8%,
11/11/27
.....
17,078
16,993
FW2414721.UP.FTS.B,
28.43%,
11/12/27
.
5,755
5,898
L1710242.UP.FTS.B,
16.42%,
9/14/28
....
2,775
2,759
L1708682.UP.FTS.B,
24.71%,
9/14/28
....
46,942
46,451
L2008544.UP.FTS.B,
14.54%,
11/09/28
...
4,708
4,691
L1973640.UP.FTS.B,
20.1%,
11/09/28
....
9,905
9,859
L2008144.UP.FTS.B,
25.61%,
11/09/28
...
2,307
2,285
L2009558.UP.FTS.B,
26.34%,
11/09/28
...
17,796
17,633
L2195991.UP.FTS.B,
26.01%,
12/07/28
...
8,706
8,618
L2197007.UP.FTS.B,
26.07%,
12/07/28
...
2,515
2,491
L2204377.UP.FTS.B,
25.94%,
12/08/28
...
4,256
4,222
L2635238.UP.FTS.B,
13.81%,
2/15/29
....
14,438
14,384
L2631621.UP.FTS.B,
15.64%,
2/15/29
....
20,793
20,687
L2633434.UP.FTS.B,
17.36%,
2/15/29
....
4,449
4,432
L2633944.UP.FTS.B,
25.93%,
2/15/29
....
1,757
1,740
L2633742.UP.FTS.B,
25.95%,
2/15/29
....
3,123
3,107
L2634808.UP.FTS.B,
26.03%,
2/15/29
....
1,952
1,933
L2635718.UP.FTS.B,
26.25%,
2/15/29
....
2,441
2,421
L2637431.UP.FTS.B,
26.27%,
2/15/29
....
6,638
6,575
L2633894.UP.FTS.B,
26.42%,
2/15/29
....
4,692
4,647
Description
Principal
Amount
Value
Upstart
Network,
Inc.
(continued)
L2635317.UP.FTS.B,
27.28%,
2/15/29
....
$
2,247
$
2,229
23,544,768
Total
Marketplace
Loans
(Cost
$85,667,903)
....
$81,060,553
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited),
July
31,
2022
Franklin
Strategic
Income
Fund
franklintempleton.com
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
210
At
July
31,
2022,
the
Fund
had
the
following futures
contracts
outstanding.
At
July
31,
2022,
the
Fund
had
the
following
forward
exchange
contracts
outstanding.
At
July
31,
2022,
the
Fund
had
the
following credit
default
swap
contracts outstanding.
Futures
Contracts
Description
Type
Number
of
Contracts
Notional
Amount
*
Expiration
Date
Value/
Unrealized
Appreciation
(Depreciation)
Interest
rate
contracts
30-day
Federal
Funds
.........................
Short
378
$
152,645,461
6/30/23
$
71,210
U.S.
Treasury
10
Year
Notes
....................
Long
440
53,301,875
9/21/22
1,281,622
U.S.
Treasury
2
Year
Notes
.....................
Long
20
4,209,219
9/30/22
(11,431)
U.S.
Treasury
5
Year
Notes
.....................
Long
1,241
141,134,665
9/30/22
676,345
U.S.
Treasury
Ultra
Bonds
......................
Long
235
37,203,438
9/21/22
655,253
Total
Futures
Contracts
......................................................................
$2,672,999
*
As
of
period
end.
Forward
Exchange
Contracts
Currency
Counter-
party
a
Type
Quantity
Contract
Amount
*
Settlement
Date
Unrealized
Appreciation
Unrealized
Depreciation
a
a
a
a
a
a
a
a
Brazilian
Real
......
JPHQ
Sell
48,725,792
9,323,012
8/08/22
$
—
$
(80,064)
Columbian
Peso
....
JPHQ
Sell
62,000,000,000
15,387,288
9/01/22
1,005,307
—
Euro
.............
JPHQ
Sell
23,000,000
23,593,630
10/17/22
—
(45,156)
Indonesian
Rupiah
..
JPHQ
Sell
32,350,000,000
2,146,792
10/17/22
—
(28,228)
Total
Forward
Exchange
Contracts
...................................................
$1,005,307
$(153,448)
Net
unrealized
appreciation
(depreciation)
............................................
$851,859
*
In
U.S.
dollars
unless
otherwise
indicated.
a
May
be
comprised
of
multiple
contracts
with
the
same
counterparty,
currency
and
settlement
date.
Credit
Default
Swap
Contracts
Description
Periodic
Payment
Rate
Received
(Paid)
Payment
Frequency
Counter-
party
Maturity
Date
Notional
Amount
(a)
Value
Unamortized
Upfront
Payments
(Receipts)
Unrealized
Appreciation
(Depreciation)
Rating
(b)
Centrally
Cleared
Swap
Contracts
Contracts
to
Buy
Protection
(c)
Traded
Index
CDX.NA.EM.37
.
(1.00)%
Quarterly
6/20/27
31,820,000
$
2,963,344
$
2,951,268
$
12,076
CDX.NA.HY.38
.
(5.00)%
Quarterly
6/20/27
61,000,000
(1,021,633)
(2,197,397)
1,175,764
Total
Centrally
Cleared
Swap
Contracts
.....................................
$1,941,711
$753,871
$1,187,840
OTC
Swap
Contracts
Contracts
to
Sell
Protection
(c)(d)
Single
Name
Carnival
Corp.
..
1.00%
Quarterly
CITI
6/20/27
17,820,000
(5,424,838)
(3,155,835)
(2,269,003)
B-
Franklin
Strategic
Series
Schedule
of
Investments
(unaudited)
Franklin
Strategic
Income
Fund
(continued)
franklintempleton.com
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
211
Credit
Default
Swap
Contracts
(continued)
Description
Periodic
Payment
Rate
Received
(Paid)
Payment
Frequency
Counter-
party
Maturity
Date
Notional
Amount
(a)
Value
Unamortized
Upfront
Payments
(Receipts)
Unrealized
Appreciation
(Depreciation)
Rating
(b)
OTC
Swap
Contracts
(continued)
Contracts
to
Sell
Protection
(c)(d)
(continued)
Single
Name
(continued)
Mexico
Government
Bond
......
1.00%
Quarterly
GSCO
6/20/26
9,250,000
$
(99,161)
$
20,896
$
(120,057)
BBB
Traded
Index
(e)
BNP
Paribas
Bespoke
Haverhill
Index,
Mezzanine
Tranche
5-10%
4.10%
Quarterly
BNDP
12/20/23
3,150,000
EUR
(226,339)
—
(226,339)
Non-
Investment
Grade
(e)
Citibank
Bespoke
Kenai
Index,
Equity
Tranche
0-5%
—%
Quarterly
CITI
12/20/23
22,100,000
(11,389,611)
(4,703,175)
(6,686,436)
Non-
Investment
Grade
(e)
Citibank
Bespoke
Kona
Index,
Equity
Tranche
0-5%
—%
Quarterly
CITI
12/20/22
9,500,000
(1,443,334)
(507,254)
(936,080)
Non-
Investment
Grade
(e)
Citibank
Bespoke
Kona
Index,
Mezzanine
Tranche
5-10%
2.42%
Quarterly
CITI
12/20/22
7,900,000
(31,834)
—
(31,834)
Non-
Investment
Grade
(e)
Citibank
Bespoke
Palm
Beach
Index,
Mezzanine
Tranche
5-10%
1.97%
Quarterly
CITI
12/20/22
10,600,000
(24,045)
—
(24,045)
Non-
Investment
Grade
(e)
Citibank
Bespoke
Rotorua
Index,
Mezzanine
Tranche
5-10%
3.60%
Quarterly
CITI
12/20/23
5,300,000
(405,203)
—
(405,203)
Non-
Investment
Grade
MCDX.
NA.MAIN.31
.
1.00%
Quarterly
CITI
12/20/23
23,060,000
175,529
64,721
110,808
Investment
Grade
Total
OTC
Swap
Contracts
..............................................
$(18,868,836)
$(8,280,647)
$(10,588,189)
Total
Credit
Default
Swap
Contracts
....................................
$(16,927,125)
$
(7,526,776)
$(9,400,349)
(a)
In
U.S.
dollars
unless
otherwise
indicated.
For
contracts
to
sell
protection,
the
notional
amount
is
equal
to
the
maximum
potential
amount
of
the
future
payments
and
no
recourse
provisions
have
been
entered
into
in
association
with
the
contracts.
(b)
Based
on
Standard
and
Poor's
(S&P)
Rating
for
single
name
swaps
and
internal
ratings
for
index
swaps.
Internal
ratings
based
on
mapping
into
equivalent
ratings
from
external
vendors.
(c)
Performance
triggers
for
settlement
of
contract
include
default,
bankruptcy
or
restructuring
for
single
name
swaps,
and
failure
to
pay
or
bankruptcy
of
the
underlying
securities
for
traded
index
swaps.
(d)
The
fund
enters
contracts
to
sell
protection
to
create
a
long
credit
position.
(e)
Represents
a
custom
index
comprised
of
a
basket
of
underlying
instruments.
See
Abbreviations
on
page
231.
Franklin
Strategic
Series
Notes
to
Schedules
of
Investments
(unaudited)
212
Quarterly
Schedules
of
Investments
1.
Organization
Franklin
Strategic
Series (Trust)
is
registered
under
the
Investment
Company
Act
of
1940
(1940
Act)
as
an
open-end
management
investment
company,
consisting
of ten
separate
funds, six
of
which
are
included
in
this
report
(Funds)
and
applies
the
specialized
accounting
and
reporting
guidance
in
U.S.
Generally
Accepted
Accounting
Principles
(U.S.
GAAP). 
2. Financial
Instrument
Valuation
The
Funds’
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
Funds
calculate
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
Trust’s
Board
of
Trustees
(the
Board),
the
Funds’
administrator
has
responsibility
for
oversight
of
valuation,
including
leading
the
cross-functional
Valuation
Committee
(VC).
The
Funds
may
utilize
independent
pricing
services,
quotations
from
securities
and
financial
instrument
dealers,
and
other
market
sources
to
determine
fair
value. 
Equity
securities,
exchange
traded
funds,
and
derivative
financial
instruments
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
and
certain
preferred
securities
generally
trade
in
the
OTC
market
rather
than
on
a
securities
exchange.
The
Funds’
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.
Securities
denominated
in
a
foreign
currency
are
converted
into
their
U.S.
dollar
equivalent
at
the
foreign
exchange
rate
in
effect
at
4
p.m.
Eastern
time
on
the
date
that
the
values
of
the
foreign
debt
securities
are
determined.
Investments
in
open-end
mutual
funds
are
valued
at
the
closing
NAV.
Investments
in
repurchase
agreements
are
valued
at
cost,
which
approximates
fair
value. 
Certain
derivative
financial
instruments
are
centrally
cleared
or
trade
in
the
OTC
market.
The
Funds’
pricing
services
use
various
techniques
including
industry
standard
option
pricing
models
and
proprietary
discounted
cash
flow
models
to
determine
the
fair
value
of
those
instruments.
The
Funds’ net
benefit
or
obligation
under
the
derivative
contract,
as
measured
by
the
fair
value
of
the
contract,
is
included
in
net
assets. 
The
Funds
have procedures
to
determine
the
fair
value
of
financial
instruments
for
which
market
prices
are
not
reliable
or
readily
available.
Under
these
procedures,
the
Funds
primarily employ
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. 
Franklin
Strategic
Series
Notes
to
Schedules
of
Investments
(unaudited)
213
Quarterly
Schedules
of
Investments
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
Funds’ business
day.
Events
can
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
Funds’
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,
an
independent
pricing
service
may
be
used
to
adjust
the
value
of
the
Funds'
portfolio
securities
to
the
latest
indications
of
fair
value
at 4
p.m.
Eastern
time.
At
July
31,
2022,
certain
securities
may
have
been
fair
valued
using
these
procedures,
in
which
case
the
securities
were
categorized
as
Level
2
inputs
within
the
fair
value
hierarchy.
See
the
Fair
Value
Measurements
note
for
more
information.
When
the
last
day
of
the
reporting
period
is
a
non-business
day,
certain
foreign
markets
may
be
open
on
those
days
that
the
Funds’
NAV
is
not
calculated,
which
could
result
in
differences
between
the
value
of
the
Funds’
portfolio securities
on
the
last
business
day
and
the
last
calendar
day
of
the
reporting
period.
Any
security
valuation
changes
due
to
an
open
foreign
market
are
adjusted
and
reflected
by
the
Funds for
financial
reporting
purposes.
3.
Restricted
Securities
At
July
31,
2022,
investments
in
restricted
securities,
excluding
securities
exempt
from
registration
under
the
Securities
Act
of
1933,
were
as
follows:
Shares
Issuer
Acquisition
Date
Cost
Value
Franklin
Biotechnology
Discovery
Fund
189,499
Artiva
Biotherapeutics,
Inc.,
B
...................
2/22/21
$
2,084,489
$
868,598
202,922
a
HilleVax
Inc
................................
8/31/21
2,652,900
2,341,174
779,505
Pipeline
Therapeutics,
Inc.,
C
...................
2/09/21
2,088,995
818,218
Total
Restricted
Securities
(Value
is
0.5%
of
Net
Assets)
..............
$6,826,384
$4,027,990
Principal
Amount
*
/
Shares
/
Warrants
Issuer
Acquisition
Date
Cost
Value
Franklin
Growth
Opportunities
Fund
11,829
Canva,
Inc.
................................
12/22/21
$
20,158,531
$
7,711,288
16,669
Celonis
SE
.................................
6/16/21
6,149,572
6,164,029
125,750
ClearMotion,
Inc.,
2/01/49
.....................
12/21/21
—
—
251,500
ClearMotion,
Inc.,
7%,
12/21/22
.................
12/21/21
251,500
342,040
2,610,594
ClearMotion,
Inc.,
C
..........................
11/06/17
5,499,999
148,872
3,698,772
ClearMotion,
Inc.,
D
..........................
12/21/18
10,000,000
210,926
112,760
Databricks,
Inc.,
G
...........................
2/01/21
20,000,005
13,774,622
1,029,939
Fanatics
Holdings,
Inc.
........................
8/13/20
-
3/22/21
19,730,229
65,011,535
37,734
IL
MAKIAGE
Cosmetics
(2013)
Ltd.
..............
12/06/21
16,241,091
18,054,892
810,440
Lacework,
Inc.,
D
............................
11/12/21
20,330,471
15,897,445
517,056
OneTrust
LLC,
C
............................
4/01/21
10,139,623
6,295,509
556,026
Optoro,
Inc.,
E
..............................
7/24/18
-
12/01/21
10,942,592
9,728,735
142,857
Space
Exploration
Technologies
Corp.,
A
..........
5/25/22
9,999,990
9,999,990
1,753,060
Talkdesk,
Inc.,
C
............................
7/15/20
11,517,955
13,722,219
2. Financial
Instrument
Valuation
(continued)
Franklin
Strategic
Series
Notes
to
Schedules
of
Investments
(unaudited)
214
Quarterly
Schedules
of
Investments
Principal
Amount*/
Shares/
Warrants
Issuer
Acquisition
Date
Cost
Value
Franklin
Growth
Opportunities
Fund
(continued)
805,800
Tanium,
Inc.,
G
..............................
9/14/15
$
4,000,233
$
6,338,998
504,854
Tempus
Labs,
Inc.,
F
.........................
5/29/19
12,499,983
18,153,243
126,131
Tempus
Labs,
Inc.,
G
.........................
2/06/20
4,837,426
4,535,344
Total
Restricted
Securities
(Value
is
4.8%
of
Net
Assets)
..............
$182,299,200
$196,089,687
Principal
Amount
*
/
Shares
/
Warrants
Issuer
Acquisition
Date
Cost
Value
Franklin
Small
Cap
Growth
Fund
3,436,485
1661,
Inc.,
F
................................
5/28/21
$
19,999,999
$
8,862,698
382,306
Benchling,
Inc.,
F
............................
10/20/21
12,499,992
8,024,395
1,388,889
Checkr,
Inc.,
E
..............................
8/24/21
25,000,002
21,010,461
312,500
ClearMotion,
Inc.,
2/01/49
.....................
12/21/21
—
—
625,000
ClearMotion,
Inc.,
7%,
12/21/22
.................
12/21/21
625,000
850,000
3,698,772
ClearMotion,
Inc.,
D
..........................
12/21/18
10,000,000
210,926
709,046
Newsela,
Inc.,
D
.............................
1/21/21
15,000,010
11,600,232
554,878
Optoro,
Inc.,
E
..............................
7/24/18
-
12/01/21
10,919,999
9,708,648
1,542,673
Smule,
Inc.,
144A,
G
.........................
5/31/16
11,099,995
3,650,142
352,675
Smule,
Inc.,
144A,
H
.........................
4/27/17
2,999,994
986,024
361,111
Tula
eTechnology,
Inc.
........................
11/01/18
—
—
3,611,111
Tula
eTechnology,
Inc.,
E
......................
9/08/17
6,500,000
9,526,912
Total
Restricted
Securities
(Value
is
2.7%
of
Net
Assets)
..............
$114,644,991
$74,430,438
Principal
Amount
*
/
Shares
/
Warrants
Issuer
Acquisition
Date
Cost
Value
Franklin
Small-Mid
Cap
Growth
Fund
347,106
Benchling,
Inc.,
F
............................
10/20/21
$
11,349,082
$
7,285,566
1,948,384
Blaize,
Inc.,
D
..............................
3/02/21
-
11/09/21
20,346,008
9,683,739
4,725,000
Blaize,
Inc.,
D,
10%,
8/24/23
...................
4/01/22
4,725,000
4,725,000
260,815
Blaize,
Inc.,
D,
2/28/24
........................
3/01/21
-
11/09/21
—
26,609
75,943
Databricks,
Inc.,
G
...........................
2/01/21
13,469,851
9,277,103
793,714
Fanatics
Holdings,
Inc.
........................
8/13/20
-
3/22/21
14,052,061
50,100,603
423,782
Newsela,
Inc.,
D
.............................
1/21/21
8,965,193
6,933,217
767,526
OneTrust
LLC,
C
............................
4/01/21
15,051,415
9,345,151
513,050
Phononic
Devices,
Inc.
........................
1/17/20
-
11/03/20
47
1,553,895
2,970,061
Phononic
Devices,
Inc.,
F
......................
6/06/19
7,499,998
6,097,811
132,793
Phononic,
Inc.,
Advance
Term
Loan,
B,
12%,
PIK,
7/31/26
..................................
8/25/20
-
7/01/22
128,125
117,359
3.
Restricted
Securities
(continued)
Franklin
Strategic
Series
Notes
to
Schedules
of
Investments
(unaudited)
215
Quarterly
Schedules
of
Investments
4.
Holding
of
5%
Voting
Securities
of
Portfolio
Companies 
The
1940
Act
defines
"affiliated
companies"
to
include
investments
in
portfolio
companies
in
which
a
fund
owns
5%
or
more
of
the
outstanding
voting
securities.
Additionally,
as
defined
in
the
1940
Act,
an
investment
is
deemed
to
be
a
“Controlled
Affiliate”
of
a
fund
when
a
fund
owns,
either
directly
or
indirectly,
25%
or
more
of
the
affiliated
companies’
outstanding
shares
or
has
the
power
to
exercise
control
over
management
or
policies
of
such
company.
During
the
period
ended
July
31,
2022,
investments
in
“affiliated
companies”
were
as
follows: 
Principal
Amount*/
Shares/
Warrants
Issuer
Acquisition
Date
Cost
Value
Franklin
Small-Mid
Cap
Growth
Fund
(continued)
317,070
Phononic,
Inc.,
Advance
Term
Loan,
D,
12%,
PIK,
12/01/25
.................................
1/15/21
-
7/01/22
$
311,871
$
278,253
645,707
Phononic,
Inc.,
Term
Loan,
A,
12%,
PIK,
1/17/24
....
1/17/20
-
7/01/22
636,602
590,799
128,632
Phononic,
Inc.,
Term
Loan,
C,
12%,
PIK,
8/25/24
....
12/03/20
-
7/01/22
126,650
112,238
Total
Restricted
Securities
(Value
is
2.7%
of
Net
Assets)
..............
$96,661,903
$106,127,343
Principal
Amount
*
/
Shares
/
Warrants
Issuer
Acquisition
Date
Cost
Value
Franklin
Strategic
Income
Fund
125,940,079
K2016470219
South
Africa
Ltd.,
A
...............
2/08/13
-
2/01/17
$
977,123
$
—
12,532,821
K2016470219
South
Africa
Ltd.,
B
...............
2/01/17
9,307
—
84,462
Riviera
Resources,
Inc.
.......................
8/08/18
1,258,484
—
6,000,000
WorkCapital
BSD
SARL,
2/13/26
................
2/15/19
750,000
—
20,000,000
WorkCapital
BSD
SARL,
Term
Loan,
6.5%,
11/02/22
.
2/13/19
19,530,078
—
Total
Restricted
Securities
(Value
is
—%
of
Net
Assets)
..............
$22,524,992
$—
*
In
U.S.
dollars
unless
otherwise
indicated.
a
The
Fund
also
invests
in
unrestricted
securities
of
the
issuer,
valued
at
$2,976,212
as
of
July
31,
2022.
Value
at
Beginning
of
Period
Purchases
Sales
Realized
Gain
(Loss)
Net
Change
in
Unrealized
Appreciation
(Depreciation)
Value
at
End
of
Period
Number
of
Shares/Principal
Amount
*
Held
at
End
of
Period
Investment
Income
Franklin
Growth
Opportunities
Fund
Non-Controlled
Affiliates
Dividends
ClearMotion,
Inc.,
2/01/49
$
—
$
—
$
—
$
—
$
—
$
—
125,750
$
—
ClearMotion,
Inc.,
C
...
245,393
—
—
—
(96,521)
148,872
2,610,594
—
ClearMotion,
Inc.,
D
...
379,231
—
—
—
(168,305)
210,926
3,698,772
—
Optoro,
Inc.,
E
.......
9,587,680
—
—
—
141,055
9,728,735
556,026
—
Talkdesk,
Inc.,
C
.....
26,669,323
—
—
—
(12,947,104)
13,722,219
1,753,060
—
3.
Restricted
Securities
(continued)
Franklin
Strategic
Series
Notes
to
Schedules
of
Investments
(unaudited)
216
Quarterly
Schedules
of
Investments
Value
at
Beginning
of
Period
Purchases
Sales
Realized
Gain
(Loss)
Net
Change
in
Unrealized
Appreciation
(Depreciation)
Value
at
End
of
Period
Number
of
Shares/Principal
Amount*
Held
at
End
of
Period
Investment
Income
Franklin
Growth
Opportunities
Fund
(continued)
Non-Controlled
Affiliates
Interest
ClearMotion,
Inc.,
7%,
12/21/22
.........
$
301,800
$
—
$
—
$
—
$
40,240
$
342,040
251,500
$
4,401
Total
Affiliated
Securities
(Value
is
0.6%
†
of
Net
Assets)
..........
$37,183,427
$—
$—
$
—
$
(13,030,635)
$24,152,792
$4,401
Franklin
Small
Cap
Growth
Fund
Non-Controlled
Affiliates
Dividends
ClearMotion,
Inc.,
2/01/49
—
—
—
—
—
—
312,500
—
ClearMotion,
Inc.,
D
...
379,232
—
—
—
(168,306)
210,926
3,698,772
—
EyePoint
Pharmaceuticals
Inc
.............
19,500,410
—
—
—
(3,744,769)
15,755,641
1,725,700
—
Nerdy,
Inc.
.........
16,226,640
—
—
—
—
a
—
a
—
a
—
Optoro,
Inc.,
E
.......
9,567,885
—
—
—
140,763
9,708,648
554,878
—
Paymentus
Holdings
Inc
27,620,424
2,375,791
—
—
(3,471,565)
26,524,650
1,823,000
—
Interest
ClearMotion,
Inc.,
7%,
12/21/22
.........
750,000
—
—
—
100,000
850,000
625,000
10,938
Total
Affiliated
Securities
(Value
is
1.9%
of
Net
Assets)
..........
$74,044,591
$2,375,791
$—
$
—
$
(7,143,877)
$53,049,865
$10,938
Franklin
Small-Mid
Cap
Growth
Fund
Non-Controlled
Affiliates
Dividends
Phononic
Devices,
Inc.
.
1,605,117
—
—
—
(51,222)
1,553,895
513,050
—
Phononic
Devices,
Inc.,
F
6,044,404
—
—
—
53,407
6,097,811
2,970,061
—
Interest
Phononic,
Inc.,
Advance
Term
Loan,
B,
12%,
PIK,
7/31/26
..........
112,590
3,466
—
—
1,303
117,359
132,793
3,548
Phononic,
Inc.,
Advance
Term
Loan,
D,
12%,
PIK,
12/01/25
......
266,507
8,105
—
—
3,641
278,253
317,070
8,304
Phononic,
Inc.,
Term
Loan,
A,
12%,
PIK,
1/17/24
.
568,451
17,507
—
—
4,841
590,799
645,707
17,913
Phononic,
Inc.,
Term
Loan,
C,
12%,
PIK,
8/25/24
108,823
3,310
—
—
105
112,238
128,632
3,391
Total
Affiliated
Securities
(Value
is
0.2%
†
of
Net
Assets)
..........
$8,705,892
$32,388
$—
$
—
$
12,075
$8,750,355
$33,156
4.
Holding
of
5%
Voting
Securities
of
Portfolio
Companies 
(continued)
Franklin
Strategic
Series
Notes
to
Schedules
of
Investments
(unaudited)
217
Quarterly
Schedules
of
Investments
5.
Investments
in
Affiliated
Management
Investment
Companies 
Certain
or
all
Funds
invest
in
one
or
more
affiliated
management
investment
companies.
As
defined
in
the
1940
Act,
an
investment
is
deemed
to
be
a
“Controlled
Affiliate”
of
a
fund
when
a
fund
owns,
either
directly
or
indirectly,
25%
or
more
of
the
affiliated
fund’s
outstanding
shares
or
has
the
power
to
exercise
control
over
management
or
policies
of
such
fund.
The
Funds
do
not
invest
for
purposes
of
exercising
a
controlling
influence
over
the
management
or
policies.
During
the
period
ended
July
31,
2022,
investments
in
affiliated
management
investment
companies
were
as
follows: 
*
In
U.S.
dollars
unless
otherwise
indicated.
a
As
of
July
31,
2022,
no
longer
an
affiliate.
    aa
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  
Franklin
Biotechnology
Discovery
Fund
Non-Controlled
Affiliates
Dividends
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
1.445%
$
6,199,878
$
44,150,901
$
(29,782,146)
$
—
$
—
$
20,568,633
20,568,633
$
21,287
Non-Controlled
Affiliates
Income
from
securities
loaned
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
1.445%
$4,994,101
$40,389,918
$(42,555,940)
$—
$—
$2,828,079
2,828,080
$10,436
Total
Affiliated
Securities
...
$11,193,979
$84,540,819
$(72,338,086)
$—
$—
$23,396,712
$31,723
Franklin
Growth
Opportunities
Fund
Non-Controlled
Affiliates
Dividends
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
1.445%
$
66,393,267
$
136,504,864
$
(183,535,142)
$
—
$
—
$
19,362,989
19,362,989
$
81,163
Non-Controlled
Affiliates
Income
from
securities
loaned
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
1.445%
$98,247,070
$107,202,407
$(162,622,292)
$—
$—
$42,827,185
42,827,185
$69,039
Total
Affiliated
Securities
...
$164,640,337
$243,707,271
$(346,157,434)
$—
$—
$62,190,174
$150,202
Franklin
Natural
Resources
Fund
Non-Controlled
Affiliates
Dividends
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
1.445%
$
18,559,837
$
27,610,092
$
(43,971,065)
$
—
$
—
$
2,198,864
2,198,864
$
14,130
4.
Holding
of
5%
Voting
Securities
of
Portfolio
Companies 
(continued)
Franklin
Strategic
Series
Notes
to
Schedules
of
Investments
(unaudited)
218
Quarterly
Schedules
of
Investments
    aa
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
Franklin
Natural
Resources
Fund
(continued)
Non-Controlled
Affiliates
Income
from
securities
loaned
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
1.445%
$3,718,640
$15,697,189
$(19,069,248)
$—
$—
$346,581
346,581
$1,662
Total
Affiliated
Securities
...
$22,278,477
$43,307,281
$(63,040,313)
$—
$—
$2,545,445
$15,792
Franklin
Small
Cap
Growth
Fund
Non-Controlled
Affiliates
Dividends
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
1.445%
$69,092,890
$102,583,731
$(117,522,717)
$—
$—
$54,153,904
54,153,904
$88,793
Non-Controlled
Affiliates
Income
from
securities
loaned
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
1.445%
$87,800,835
$178,368,052
$(202,635,135)
$—
$—
$63,533,752
63,533,752
$136,811
Total
Affiliated
Securities
...
$156,893,725
$280,951,783
$(320,157,852)
$—
$—
$117,687,656
$225,604
Franklin
Small-Mid
Cap
Growth
Fund
Non-Controlled
Affiliates
Dividends
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
1.445%
$195,919,198
$133,767,832
$(162,668,028)
$—
$—
$167,019,002
167,019,002
$305,839
Non-Controlled
Affiliates
Income
from
securities
loaned
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
1.445%
$22,421,425
$33,543,638
$(55,965,063)
$—
$—
$—
—
$6,134
Total
Affiliated
Securities
...
$218,340,623
$167,311,470
$(218,633,091)
$—
$—
$167,019,002
$311,973
Franklin
Strategic
Income
Fund
Controlled
Affiliates
Dividends
Franklin
Floating
Rate
Income
Fund
..................
$
318,685,701
$
—
$
(53,394,300)
$
(15,705,700)
$
(2,668,919)
$
246,916,782
32,192,540
$
3,621,796
5.
Investments
in
Affiliated
Management
Investment
Companies 
(continued)
Franklin
Strategic
Series
Notes
to
Schedules
of
Investments
(unaudited)
219
Quarterly
Schedules
of
Investments
6. Fair
Value
Measurements 
The
Funds
follow
a
fair
value
hierarchy
that
distinguishes
between
market
data
obtained
from
independent
sources
(observable
inputs)
and
the
Funds'
own
market
assumptions
(unobservable
inputs).
These
inputs
are
used
in
determining
the
value
of
the
Funds’
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
Funds'
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
July
31,
2022,
in
valuing
the
Funds’
assets
and
liabilities
carried
at
fair
value,
is
as
follows:  
    aa
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
Franklin
Strategic
Income
Fund
(continued)
Non-Controlled
Affiliates
Dividends
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
1.445%
$43,841,735
$2,008,402
$(4,772,483)
$—
$—
$41,077,654
41,077,654
$73,885
Non-Controlled
Affiliates
Income
from
securities
loaned
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
1.445%
$4,261,000
$288,000
$(4,549,000)
$—
$—
$—
—
$1,120
Total
Affiliated
Securities
...
$366,788,436
$2,296,402
$(62,715,783)
$(15,705,700)
$(2,668,919)
$287,994,436
$3,696,801
Level
1
Level
2
Level
3
Total
Franklin
Biotechnology
Discovery
Fund
Assets:
Investments
in
Securities:
Common
Stocks
:
Biotechnology
.........................
$
623,202,170
$
—
$
2,341,174
$
625,543,344
Health
Care
Providers
&
Services
..........
8,682,721
—
—
8,682,721
Life
Sciences
Tools
&
Services
............
46,686,689
—
—
46,686,689
Pharmaceuticals
.......................
129,019,099
—
—
129,019,099
Preferred
Stocks
........................
—
—
1,686,816
1,686,816
Warrants
:
Biotechnology
.........................
—
879,039
982,856
1,861,895
Pharmaceuticals
.......................
32,274
—
—
32,274
Escrows
and
Litigation
Trusts
...............
—
—
—
a
—
Short
Term
Investments
...................
23,396,712
—
—
23,396,712
Total
Investments
in
Securities
...........
$831,019,665
$879,039
$5,010,846
$836,909,550
5.
Investments
in
Affiliated
Management
Investment
Companies 
(continued)
Franklin
Strategic
Series
Notes
to
Schedules
of
Investments
(unaudited)
220
Quarterly
Schedules
of
Investments
Level
1
Level
2
Level
3
Total
Franklin
Growth
Opportunities
Fund
Assets:
Investments
in
Securities:
Common
Stocks
:
Aerospace
&
Defense
...................
$
—
$
—
$
9,999,990
$
9,999,990
Airlines
..............................
12,264,206
—
—
12,264,206
Auto
Components
......................
18,739,228
—
—
18,739,228
Automobiles
..........................
74,423,691
—
—
74,423,691
Beverages
...........................
78,808,954
—
—
78,808,954
Biotechnology
.........................
5,702,595
—
—
5,702,595
Capital
Markets
........................
177,870,781
—
—
177,870,781
Chemicals
...........................
51,571,634
—
—
51,571,634
Commercial
Services
&
Supplies
...........
20,332,825
—
6,164,029
26,496,854
Electric
Utilities
........................
26,266,843
—
—
26,266,843
Entertainment
.........................
18,780,124
—
—
18,780,124
Equity
Real
Estate
Investment
Trusts
(REITs)
.
121,047,594
—
—
121,047,594
Food
Products
........................
10,271,649
—
—
10,271,649
Health
Care
Equipment
&
Supplies
.........
159,913,845
—
18,054,892
177,968,737
Health
Care
Providers
&
Services
..........
139,814,096
—
—
139,814,096
Health
Care
Technology
.................
55,251,760
—
—
55,251,760
Hotels,
Restaurants
&
Leisure
.............
98,059,355
—
—
98,059,355
Industrial
Conglomerates
................
28,678,849
—
—
28,678,849
Interactive
Media
&
Services
..............
199,165,224
—
—
199,165,224
Internet
&
Direct
Marketing
Retail
..........
319,009,115
—
—
319,009,115
IT
Services
...........................
339,446,565
—
7,711,288
347,157,853
Leisure
Products
.......................
—
—
65,011,535
65,011,535
Life
Sciences
Tools
&
Services
............
272,456,239
—
—
272,456,239
Machinery
............................
20,794,663
—
—
20,794,663
Pharmaceuticals
.......................
100,600,903
—
—
100,600,903
Professional
Services
...................
111,234,313
—
—
111,234,313
Road
&
Rail
..........................
76,534,510
—
—
76,534,510
Semiconductors
&
Semiconductor
Equipment
.
251,073,502
—
—
251,073,502
Software
.............................
843,085,986
—
—
843,085,986
Technology
Hardware,
Storage
&
Peripherals
.
201,245,721
—
—
201,245,721
Textiles,
Apparel
&
Luxury
Goods
..........
42,003,490
—
—
42,003,490
Convertible
Preferred
Stocks
...............
—
—
35,967,576
35,967,576
Preferred
Stocks
........................
—
—
52,838,337
52,838,337
Warrants
..............................
—
—
—
a
—
Corporate
Bonds
........................
—
—
342,040
342,040
Escrows
and
Litigation
Trusts
...............
—
—
—
a
—
Short
Term
Investments
...................
62,190,174
—
—
62,190,174
Total
Investments
in
Securities
...........
$3,936,638,434
$—
$196,089,687
$4,132,728,121
Level
1
Level
2
Level
3
Total
Franklin
Natural
Resources
Fund
Assets:
Investments
in
Securities:
Common
Stocks
:
Agricultural
Products
....................
$
4,573,563
$
—
$
—
$
4,573,563
Construction
Machinery
&
Heavy
Trucks
.....
1,863,862
—
—
1,863,862
Construction
Materials
..................
2,711,016
—
—
2,711,016
Copper
..............................
16,066,379
3,070,551
—
19,136,930
Diversified
Chemicals
...................
3,605,520
—
—
3,605,520
Diversified
Metals
&
Mining
...............
11,912,504
6,263,057
—
18,175,561
Electrical
Components
&
Equipment
........
7,245,355
—
—
7,245,355
Environmental
&
Facilities
Services
.........
1,786,715
—
—
1,786,715
6. Fair
Value
Measurements 
(continued)
Franklin
Strategic
Series
Notes
to
Schedules
of
Investments
(unaudited)
221
Quarterly
Schedules
of
Investments
Level
1
Level
2
Level
3
Total
Franklin
Natural
Resources
Fund
(continued)
Assets:
(continued)
Common
Stocks:
Fertilizers
&
Agricultural
Chemicals
.........
$
8,089,848
$
—
$
—
$
8,089,848
Gold
................................
23,935,879
—
—
23,935,879
Heavy
Electrical
Equipment
..............
1,982,988
—
—
1,982,988
Industrial
Gases
.......................
12,121,635
—
—
12,121,635
Industrial
Machinery
....................
4,030,914
—
—
4,030,914
Integrated
Oil
&
Gas
....................
76,245,895
—
—
76,245,895
Marine
..............................
998,310
—
—
998,310
Metal
&
Glass
Containers
................
5,256,738
—
—
5,256,738
Oil
&
Gas
Drilling
......................
6,228,060
—
—
6,228,060
Oil
&
Gas
Equipment
&
Services
...........
48,534,058
1,489,455
—
50,023,513
Oil
&
Gas
Exploration
&
Production
.........
76,331,070
2,841,870
—
79,172,940
Oil
&
Gas
Refining
&
Marketing
............
26,145,607
—
—
26,145,607
Oil
&
Gas
Storage
&
Transportation
.........
35,663,593
—
—
35,663,593
Paper
Packaging
......................
1,799,808
—
—
1,799,808
Semiconductor
Equipment
...............
2,556,923
—
—
2,556,923
Specialty
Chemicals
....................
4,894,950
965,833
—
5,860,783
Steel
................................
2,791,604
—
—
2,791,604
Trading
Companies
&
Distributors
..........
4,093,856
—
—
4,093,856
Warrants
..............................
786,705
—
—
786,705
Convertible
Bonds
.......................
—
1,066,500
—
1,066,500
Short
Term
Investments
...................
2,545,445
—
—
2,545,445
Total
Investments
in
Securities
...........
$394,798,800
$15,697,266
b
$—
$410,496,066
Level
1
Level
2
Level
3
Total
Franklin
Small
Cap
Growth
Fund
Assets:
Investments
in
Securities:
c
Common
Stocks
........................
$
2,615,649,880
$
—
$
—
$
2,615,649,880
Convertible
Preferred
Stocks
...............
—
—
49,497,786
49,497,786
Preferred
Stocks
........................
—
—
24,082,652
a
24,082,652
Warrants
..............................
—
—
—
a
—
Corporate
Bonds
........................
—
—
850,000
850,000
Escrows
and
Litigation
Trusts
...............
—
—
—
a
—
Short
Term
Investments
...................
117,687,656
—
—
117,687,656
Total
Investments
in
Securities
...........
$2,733,337,536
$—
$74,430,438
$2,807,767,974
Franklin
Small-Mid
Cap
Growth
Fund
Assets:
Investments
in
Securities:
Common
Stocks
:
Aerospace
&
Defense
...................
64,661,126
—
—
64,661,126
Airlines
..............................
43,588,260
—
—
43,588,260
Banks
...............................
35,633,465
—
—
35,633,465
Biotechnology
.........................
112,043,559
—
—
112,043,559
Building
Products
......................
45,552,201
—
—
45,552,201
Capital
Markets
........................
175,114,232
—
—
175,114,232
Commercial
Services
&
Supplies
...........
47,809,968
—
—
47,809,968
Communications
Equipment
..............
55,550,869
—
—
55,550,869
Containers
&
Packaging
.................
78,861,384
—
—
78,861,384
Electrical
Equipment
....................
110,359,780
—
—
110,359,780
Electronic
Equipment,
Instruments
&
Components
........................
122,735,735
—
—
122,735,735
Equity
Real
Estate
Investment
Trusts
(REITs)
.
107,613,166
—
—
107,613,166
Food
Products
........................
12,184,320
—
—
12,184,320
6. Fair
Value
Measurements 
(continued)
Franklin
Strategic
Series
Notes
to
Schedules
of
Investments
(unaudited)
222
Quarterly
Schedules
of
Investments
Level
1
Level
2
Level
3
Total
Franklin
Small-Mid
Cap
Growth
Fund
(continued)
Assets:
(continued)
Investments
in
Securities:
Common
Stocks:
Health
Care
Equipment
&
Supplies
.........
$
199,274,215
$
—
$
—
$
199,274,215
Health
Care
Providers
&
Services
..........
55,834,882
—
—
55,834,882
Health
Care
Technology
.................
84,095,832
—
—
84,095,832
Hotels,
Restaurants
&
Leisure
.............
243,110,211
—
—
243,110,211
Household
Durables
....................
46,566,860
—
—
46,566,860
Interactive
Media
&
Services
..............
67,179,539
—
—
67,179,539
IT
Services
...........................
182,642,082
25,184,062
—
207,826,144
Leisure
Products
.......................
—
—
50,100,603
50,100,603
Life
Sciences
Tools
&
Services
............
241,730,072
—
—
241,730,072
Machinery
............................
61,955,843
—
—
61,955,843
Oil,
Gas
&
Consumable
Fuels
.............
34,048,349
—
—
34,048,349
Personal
Products
.....................
48,243,004
—
—
48,243,004
Pharmaceuticals
.......................
59,456,328
—
—
59,456,328
Professional
Services
...................
135,627,687
—
—
135,627,687
Road
&
Rail
..........................
101,138,993
—
—
101,138,993
Semiconductors
&
Semiconductor
Equipment
.
227,752,597
—
—
227,752,597
Software
.............................
576,499,299
—
—
576,499,299
Specialty
Retail
........................
165,778,993
—
—
165,778,993
Textiles,
Apparel
&
Luxury
Goods
..........
91,277,626
—
—
91,277,626
Trading
Companies
&
Distributors
..........
70,512,144
—
—
70,512,144
Convertible
Preferred
Stocks
...............
—
—
44,078,671
44,078,671
Preferred
Stocks
........................
—
—
6,097,811
6,097,811
Warrants
..............................
—
—
26,609
26,609
Corporate
Bonds
........................
—
—
4,725,000
4,725,000
Senior
Floating
Rate
Interests
...............
—
—
1,098,649
1,098,649
Escrows
and
Litigation
Trusts
...............
—
—
—
a
—
Short
Term
Investments
...................
167,019,002
—
—
167,019,002
Total
Investments
in
Securities
...........
$3,871,451,623
$25,184,062
d
$106,127,343
$4,002,763,028
Franklin
Strategic
Income
Fund
Assets:
Investments
in
Securities:
Common
Stocks
:
Energy
Equipment
&
Services
.............
3,505,236
—
—
3,505,236
Machinery
............................
—
8,686,673
—
8,686,673
Media
...............................
1,303,460
—
13,502
1,316,962
Multiline
Retail
........................
—
—
—
a
—
Oil,
Gas
&
Consumable
Fuels
.............
36,223
—
—
a
36,223
Management
Investment
Companies
.........
—
246,916,782
—
246,916,782
Warrants
..............................
—
—
20
a
20
Convertible
Bonds
.......................
—
304,480
—
304,480
Corporate
Bonds
:
Aerospace
&
Defense
...................
—
22,841,528
—
22,841,528
Air
Freight
&
Logistics
...................
—
3,210,329
—
3,210,329
Airlines
..............................
—
19,935,965
—
19,935,965
Auto
Components
......................
—
30,765,457
—
30,765,457
Automobiles
..........................
—
9,130,250
—
9,130,250
Banks
...............................
—
69,037,173
—
69,037,173
Beverages
...........................
—
9,066,758
—
9,066,758
Biotechnology
.........................
—
5,731,189
—
5,731,189
Building
Products
......................
—
30,631,832
—
30,631,832
Capital
Markets
........................
—
45,807,883
—
45,807,883
Chemicals
...........................
—
92,345,181
—
92,345,181
Commercial
Services
&
Supplies
...........
—
15,077,728
—
15,077,728
6. Fair
Value
Measurements 
(continued)
Franklin
Strategic
Series
Notes
to
Schedules
of
Investments
(unaudited)
223
Quarterly
Schedules
of
Investments
Level
1
Level
2
Level
3
Total
Franklin
Strategic
Income
Fund
(continued)
Assets:
(continued)
Investments
in
Securities:
Corporate
Bonds:
Communications
Equipment
..............
$
—
$
8,351,931
$
—
$
8,351,931
Construction
&
Engineering
...............
—
3,002,802
—
3,002,802
Construction
Materials
..................
—
3,702,471
—
3,702,471
Consumer
Finance
.....................
—
10,735,173
—
10,735,173
Containers
&
Packaging
.................
—
31,208,241
—
31,208,241
Diversified
Consumer
Services
............
—
7,068,750
—
7,068,750
Diversified
Financial
Services
.............
—
17,430,740
—
17,430,740
Diversified
Telecommunication
Services
.....
—
42,234,793
—
42,234,793
Electric
Utilities
........................
—
53,216,544
—
53,216,544
Electrical
Equipment
....................
—
11,731,510
—
11,731,510
Electronic
Equipment,
Instruments
&
Components
........................
—
11,244,610
—
11,244,610
Energy
Equipment
&
Services
.............
—
17,373,742
—
17,373,742
Entertainment
.........................
—
15,955,141
—
15,955,141
Equity
Real
Estate
Investment
Trusts
(REITs)
.
—
30,229,999
—
30,229,999
Food
Products
........................
—
11,334,222
—
11,334,222
Gas
Utilities
..........................
—
2,179,882
—
2,179,882
Health
Care
Equipment
&
Supplies
.........
—
7,635,180
—
7,635,180
Health
Care
Providers
&
Services
..........
—
59,219,128
—
59,219,128
Hotels,
Restaurants
&
Leisure
.............
—
41,406,444
—
41,406,444
Household
Durables
....................
—
10,653,338
—
10,653,338
Household
Products
....................
—
11,613,395
—
11,613,395
Independent
Power
and
Renewable
Electricity
Producers
..........................
—
53,734,421
—
53,734,421
Insurance
............................
—
8,093,671
—
8,093,671
Interactive
Media
&
Services
..............
—
17,661,290
—
17,661,290
Internet
&
Direct
Marketing
Retail
..........
—
19,711,084
—
19,711,084
IT
Services
...........................
—
27,562,933
—
27,562,933
Machinery
............................
—
3,783,905
—
3,783,905
Marine
..............................
—
12,078,540
—
12,078,540
Media
...............................
—
62,118,686
—
62,118,686
Metals
&
Mining
.......................
—
14,623,889
—
14,623,889
Multiline
Retail
........................
—
—
—
a
—
Multi-Utilities
..........................
—
7,421,127
—
7,421,127
Oil,
Gas
&
Consumable
Fuels
.............
—
155,023,621
—
155,023,621
Paper
&
Forest
Products
.................
—
12,758,179
—
12,758,179
Personal
Products
.....................
—
7,482,965
—
7,482,965
Pharmaceuticals
.......................
—
42,855,190
—
42,855,190
Real
Estate
Management
&
Development
....
—
19,819,167
—
19,819,167
Road
&
Rail
..........................
—
13,663,385
—
13,663,385
Software
.............................
—
13,663,850
—
13,663,850
Specialty
Retail
........................
—
27,734,634
—
27,734,634
Technology
Hardware,
Storage
&
Peripherals
.
—
1,786,725
—
1,786,725
Thrifts
&
Mortgage
Finance
...............
—
8,550,200
—
8,550,200
Tobacco
.............................
—
12,862,203
—
12,862,203
Trading
Companies
&
Distributors
..........
—
21,629,248
—
21,629,248
Wireless
Telecommunication
Services
.......
—
23,412,380
—
23,412,380
Senior
Floating
Rate
Interests
...............
—
2,483,087
—
a
2,483,087
Marketplace
Loans
......................
—
—
81,060,553
81,060,553
Foreign
Government
and
Agency
Securities
....
—
215,528,263
—
215,528,263
U.S.
Government
and
Agency
Securities
.......
—
540,048,772
—
540,048,772
Asset-Backed
Securities
..................
—
237,516,533
—
237,516,533
Commercial
Mortgage-Backed
Securities
......
—
16,345,353
—
16,345,353
Mortgage-Backed
Securities
................
—
72,989,530
—
72,989,530
6. Fair
Value
Measurements 
(continued)
Franklin
Strategic
Series
Notes
to
Schedules
of
Investments
(unaudited)
224
Quarterly
Schedules
of
Investments
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.
At July
31,
2022,
the
reconciliation
is
as
follows:
Level
1
Level
2
Level
3
Total
Franklin
Strategic
Income
Fund
(continued)
Assets:
(continued)
Investments
in
Securities:
Corporate
Bonds:
Municipal
Bonds
.........................
$
—
$
27,997,435
$
—
$
27,997,435
Residential
Mortgage-Backed
Securities
......
—
168,516,120
—
168,516,120
Escrows
and
Litigation
Trusts
...............
—
127,500
—
a
127,500
Short
Term
Investments
...................
41,077,654
73,039,893
—
114,117,547
Total
Investments
in
Securities
...........
$45,922,573
$2,959,641,023
$81,074,075
$3,086,637,671
Other
Financial
Instruments:
Forward
exchange
contracts
...............
$
—
$
1,005,307
$
—
$
1,005,307
Futures
contracts
........................
2,684,430
—
—
2,684,430
Swap
contracts
.........................
—
1,298,648
—
1,298,648
Total
Other
Financial
Instruments
.........
$2,684,430
$2,303,955
$—
$4,988,385
Liabilities:
Other
Financial
Instruments:
Forward
exchange
contracts
................
$
—
$
153,448
$
—
$
153,448
Futures
contracts
........................
11,431
—
—
11,431
Swap
contracts
..........................
—
10,698,997
—
10,698,997
Total
Other
Financial
Instruments
.........
$11,431
$10,852,445
$—
$10,863,876
a
Includes
securities
determined
to
have
no
value
at
July
31,
2022.
b
Includes
foreign
securities
valued
at
$13,664,933,
which
were
categorized
as
Level
2
as
a
result
of
the
application
of
market
level
fair
value
procedures.
See
the
Financial
Instrument
Valuation
note
for
more
information.
c
For
detailed
categories,
see
the
accompanying
Schedules
of
Investments.
d
Includes
foreign
securities
valued
at
$25,184,062,
which
were
categorized
as
Level
2
as
a
result
of
the
application
of
market
level
fair
value
procedures.
See
the
Financial
Instrument
Valuation
note
for
more
information.
Balance
at
Beginning
of
Period
Purchases
a
Sales
b
Transfer
Into
Level
3
Transfer
Out
of
Level
3
Net
Accretion
(Amortiza-
tion)
Net
Realized
Gain
(Loss)
Net
Unr
ealized
Appreciatio
n
(
Depreciation
)
Balance
at
End
of
Period
Net
Change
in
Unrealized
Appreciation
(Depreciation)
on
Assets
Held
at
Period
End
a
a
a
a
a
a
a
a
a
a
a
Franklin
Growth
Opportunities
Fund
Assets:
Investments
in
Securities:
Common
Stocks
:
Aerospace
&
Defense
.
$
—
$
9,999,990
$
—
$
—
$
—
$
—
$
—
$
—
$
9,999,990
$
—
Commercial
Services
&
Supplies
........
6,164,029
—
—
—
—
—
—
—
6,164,029
—
Health
Care
Equipment
&
Supplies
.......
14,889,942
—
—
—
—
—
—
3,164,950
18,054,892
3,164,950
Hotels,
Restaurants
&
Leisure
.........
29,918,137
—
(15,142,819)
—
—
—
—
(14,775,318)
—
—
IT
Services
........
8,371,768
—
—
—
—
—
—
(660,480)
7,711,288
(660,480)
Leisure
Products
....
68,576,928
—
—
—
—
—
—
(3,565,393)
65,011,535
(3,565,393)
Software
..........
17,832,356
—
(12,004,812)
—
—
—
—
(5,827,544)
—
—
Convertible
Preferred
Stocks
:
Software
..........
43,394,108
—
—
—
—
—
—
(7,426,532)
35,967,576
(7,426,532)
6. Fair
Value
Measurements 
(continued)
Franklin
Strategic
Series
Notes
to
Schedules
of
Investments
(unaudited)
225
Quarterly
Schedules
of
Investments
Balance
at
Beginning
of
Period
Purchases
a
Sales
b
Transfer
Into
Level
3
Transfer
Out
of
Level
3
Net
Accretion
(Amortiza-
tion)
Net
Realized
Gain
(Loss)
Net
Unrealized
Appreciation
(Depreciation)
Balance
at
End
of
Period
Net
Change
in
Unrealized
Appreciation
(Depreciation)
on
Assets
Held
at
Period
End
a
a
a
a
a
a
a
a
a
a
a
Franklin
Growth
Opportunities
Fund
(continued)
Assets:
Investments
in
Securities:
Preferred
Stocks
:
Commercial
Services
&
Supplies
........
$
9,587,680
$
—
$
—
$
—
$
—
$
—
$
—
$
141,055
$
9,728,735
$
141,055
Health
Care
Providers
&
Services
........
21,812,596
—
—
—
—
—
—
875,991
22,688,587
875,991
Software
..........
33,530,513
—
—
—
—
—
—
(13,109,498)
20,421,015
(12,109,498)
Warrants
:
Software
..........
—
c
—
c
—
—
—
—
—
—
—
c
—
Corporate
Bonds
:
Software
..........
301,800
—
—
—
—
—
—
40,240
342,040
40,240
Escrows
and
Litigation
Trusts
...........
—
c
—
—
—
—
—
—
—
—
c
—
Total
Investments
in
Securities
............
$254,379,857
$9,999,990
$(27,147,631)
$—
$—
$—
$—
$(41,142,529)
$196,089,687
$(19,539,667)
Franklin
Small
Cap
Growth
Fund
Assets:
Investments
in
Securities:
Common
Stocks
:
Hotels,
Restaurants
&
Leisure
.........
15,035,973
—
(7,649,483)
—
—
—
—
(7,386,490)
—
—
Convertible
Preferred
Stocks
:
Diversified
Consumer
Services
........
12,627,000
—
—
—
—
—
—
(1,026,768)
11,600,232
(1,026,768)
Software
..........
33,213,053
—
c
—
—
—
—
—
(4,178,197)
29,034,856
(4,178,197)
Specialty
Retail
.....
11,377,470
—
—
—
—
—
—
(2,514,772)
8,862,698
(2,514,772)
Preferred
Stocks
:
Auto
Components
....
8,860,467
c
—
—
—
—
—
—
666,445
9,526,912
c
666,445
Commercial
Services
&
Supplies
........
9,567,885
—
—
—
—
—
—
140,763
9,708,648
140,763
Software
..........
5,054,447
—
—
—
—
—
—
(207,355)
4,847,092
(207,355)
Warrants
:
Software
..........
—
c
—
—
—
—
—
—
—
—
c
—
Corporate
Bonds
:
Software
..........
750,000
—
—
—
—
—
—
100,000
850,000
100,000
Escrows
and
Litigation
Trusts
...........
—
c
—
—
—
—
—
—
—
—
c
—
Total
Investments
in
Securities
............
$96,486,295
$—
$(7,649,483)
$—
$—
$—
$—
$(14,406,374)
$74,430,438
$(7,019,884)
Franklin
Small-Mid
Cap
Growth
Fund
Assets:
Investments
in
Securities:
Common
Stocks
:
Leisure
Products
....
52,848,244
—
—
—
—
—
—
(2,747,641)
50,100,603
(2,747,641)
Convertible
Preferred
Stocks
:
Diversified
Consumer
Services
........
7,546,894
—
—
—
—
—
—
(613,677)
6,933,217
(613,677)
6. Fair
Value
Measurements 
(continued)
Franklin
Strategic
Series
Notes
to
Schedules
of
Investments
(unaudited)
226
Quarterly
Schedules
of
Investments
Balance
at
Beginning
of
Period
Purchases
a
Sales
b
Transfer
Into
Level
3
Transfer
Out
of
Level
3
Net
Accretion
(Amortiza-
tion)
Net
Realized
Gain
(Loss)
Net
Unrealized
Appreciation
(Depreciation)
Balance
at
End
of
Period
Net
Change
in
Unrealized
Appreciation
(Depreciation)
on
Assets
Held
at
Period
End
a
a
a
a
a
a
a
a
a
a
a
Franklin
Small-Mid
Cap
Growth
Fund
(continued)
Assets:
Investments
in
Securities:
Convertible
Preferred
Stocks:
Semiconductors
&
Semiconductor
Equipment
.......
$
1,605,117
$
—
$
—
$
—
$
—
$
—
$
—
$
(51,222)
$
1,553,895
$
(51,222)
Software
..........
48,448,409
—
—
—
—
—
—
(12,856,850)
35,591,559
(12,856,850)
Preferred
Stocks
:
Semiconductors
&
Semiconductor
Equipment
.......
6,044,404
—
—
—
—
—
—
53,407
6,097,811
53,407
Warrants
:
Software
..........
67,020
—
—
—
—
—
—
(40,411)
26,609
(40,411)
Corporate
Bonds
:
Software
..........
4,725,000
—
—
—
—
—
—
—
4,725,000
—
Senior
Floating
Rate
Interests
:
Semiconductors
&
Semiconductor
Equipment
.......
1,056,371
32,387
—
c
—
—
1,583
—
8,308
1,098,649
8,308
Escrows
and
Litigation
Trusts
...........
—
c
—
—
—
—
—
—
—
—
c
—
Total
Investments
in
Securities
............
$122,341,459
$32,387
$—
$—
$—
$1,583
$—
$(16,248,086)
$106,127,343
$(16,248,086)
Franklin
Strategic
Income
Fund
Assets:
Investments
in
Securities:
Common
Stocks
:
Media
...........
28,864
—
—
—
—
—
—
(15,362)
13,502
(15,362)
Multiline
Retail
......
—
c
—
—
—
—
—
—
—
—
c
—
Oil,
Gas
&
Consumable
Fuels
..........
—
c
—
—
—
—
—
—
—
—
c
—
Warrants
:
Oil,
Gas
&
Consumable
Fuels
..........
24
c
—
—
—
—
—
—
(4)
20
c
(4)
Software
..........
—
c
—
—
—
—
—
—
—
—
c
—
Corporate
Bonds
:
Multiline
Retail
......
—
c
—
c
—
—
—
—
—
—
—
c
—
Senior
Floating
Rate
Interests
:
Software
..........
—
c
—
—
—
—
—
—
—
—
c
—
Marketplace
Loans
:
Diversified
Financial
Services
........
83,510,806
27,826,114
(27,978,102)
—
—
—
(382,097)
(1,916,168)
81,060,553
(2,152,356)
Escrows
and
Litigation
Trusts
...........
—
c
—
—
—
—
—
—
—
—
c
—
Total
Investments
in
Securities
............
$83,539,694
$27,826,114
$(27,978,102)
$—
$—
$—
$(382,097)
$(1,931,534)
$81,074,075
$(2,167,722)
a
Purchases
include
all
purchases
of
securities
and
securities
received
in
corporate
actions.
b
Sales
include
all
sales
of
securities,
maturities,
paydowns
and
securities
tendered
in
corporate
actions.
6. Fair
Value
Measurements 
(continued)
Franklin
Strategic
Series
Notes
to
Schedules
of
Investments
(unaudited)
227
Quarterly
Schedules
of
Investments
Significant
unobservable
valuation
inputs
for
material
Level
3
assets
and/or
liabilities
and
impact
to
fair
value
as
a
result
of
changes
in
unobservable
valuation
inputs
as
of
July
31,
2022,
are
as
follows:
c
Includes
securities
determined
to
have
no
value.
Description
Fair
Value
at
End
of
Period
Valuation
Technique
Unobservable
Inputs
Amount
/
Range
(Weighted
Average)
a
Impact
to
Fair
Value
if
Input
Increases
b
Franklin
Growth
Opportunities
Fund
Assets:
Investments
in
Securities:
Common
Stock:
Health
Care
Equipment
&
Supplies.
.
.
$18,054,892
Market
comparables
Discount
for
lack
of
marketability
7.2%
Decrease
EV
/
EBITDA
multiple
35.6x
Increase
c
EV
/
revenue
multiple
6.7x
Increase
c
IT
Services
.................
7,711,288
Market
comparables
Discount
for
lack
of
marketability
22.0%
Decrease
c
EV
/
revenue
multiple
10.4x
–
19.9x
Increase
c
Leisure
Products.
.
.
.
.
.
.
.
.
.
.
.
.
.
65,011,535
Market
comparables
Discount
for
lack
of
marketability
15.4%
Decrease
c
EV
/
revenue
multiple
5.7x
Increase
d
Convertible
Preferred
Stocks:
Software
...................
35,967,576
Market
comparables
Discount
for
lack
of
marketability
15.8%
-
21.2%
(18.3%)
Decrease
c
EV
/
revenue
multiple
8.2x
-
52.6x
(24.3x)
Increase
c
Volatility
of
peers
69.3%
Decrease
Preferred
Stocks:
Commercial
Services
&
Supplies
.
9,728,735
Discounted
cash
flow
Discount
for
lack
of
marketability
10.4%
Decrease
c
Discount
rate
14.7%
Decrease
Long
term
growth
rate
5.0%
Increase
Market
comparables
EV
/
revenue
multiple
8.1x
Increase
Volatility
of
peers
47.4%
Increase
Health
Care
Providers
&
Services.
22,688,587
Discounted
cash
flow
Discount
for
lack
of
marketability
8.5%
Decrease
Discount
rate
9.8%
Decrease
d
Long
term
growth
rate
5.0%
Increase
d
Software
...................
20,061,217
Discounted
cash
flow
Discount
for
lack
of
marketability
15.5%
Decrease
c
Discount
rate
11.1%
Decrease
c
Terminal
value
multiple
34.6x
Increase
c
Volatility
of
peers
59.2%
Decrease
6. Fair
Value
Measurements 
(continued)
Franklin
Strategic
Series
Notes
to
Schedules
of
Investments
(unaudited)
228
Quarterly
Schedules
of
Investments
Market
comparables
Discount
for
lack
of
marketability
15.8%
Decrease
c
EV
/
revenue
multiple
17.1x
Increase
c
Volatility
of
peers
75.2%
Increase
All
Other
Investments
..........
16,865,857
e,f
Total
.......................
$196,089,687
Description
Fair
Value
at
End
of
Period
Valuation
Technique
Unobservable
Inputs
Amount
/
Range
(Weighted
Average)
a
Impact
to
Fair
Value
if
Input
Increases
b
Franklin
Small
Cap
Growth
Fund
Assets:
Investments
in
Securities:
Convertible
Preferred
Stocks:
Diversified
Consumer
Services
..
11,600,232
Discounted
cash
flow
Discount
for
lack
of
marketability
17.8%
Decrease
c
Discount
rate
17.2%
Decrease
c
Long
term
growth
rate
5.0%
Increase
Volatility
of
peers
69.4%
Decrease
Software.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
...
29,034,856
Market
comparables
Discount
for
lack
of
marketability
16.1%
-
19.7%
(18.7%)
Decrease
c
EV
/
revenue
multiple
5.0x
–
46.3x
(17.1x)
Increase
c
Volatility
of
peers
67.3%
Decrease
Specialty
Retail.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
8,862,698
Market
comparables
Discount
for
lack
of
marketability
20.0%
Decrease
c
EV
/
revenue
multiple
1.9x
–
2.5x
Increase
c
Preferred
Stocks:
Auto
Components
............
9,526,912
Market
comparables
Discount
for
lack
of
marketability
14.8%
Decrease
c
EV
/
EBITDA
multiple
21.9x
Increase
c
Volatility
of
peers
48.4%
Decrease
Commercial
Services
&
Supplies.
.
9,708,648
Discounted
cash
flow
Discount
for
lack
of
marketability
10.4%
Decrease
c
Discount
rate
14.7%
Decrease
Long
term
growth
rate
5.0%
Increase
 Market
comparables
EV
/
revenue
multiple
8.1x
Increase
Volatility
of
peers
47.4%
Increase
Software.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
..
3,650,142
Market
comparables
Discount
for
lack
of
marketability
11.2%
Decrease
c
EV
/
revenue
multiple
1.0x
–
1.6x
Increase
c
Volatility
of
peers
36.0%
Decrease
c
All
Other
Investments
..........
2,046,950
e,f
Total
.......................
$74,430,438
6. Fair
Value
Measurements 
(continued)
Franklin
Strategic
Series
Notes
to
Schedules
of
Investments
(unaudited)
229
Quarterly
Schedules
of
Investments
Description
Fair
Value
at
End
of
Period
Valuation
Technique
Unobservable
Inputs
Amount
/
Range
(Weighted
Average)
a
Impact
to
Fair
Value
if
Input
Increases
b
Franklin
Small-Mid
Cap
Growth
Fund
Assets:
Investments
in
Securities:
Common
Stock:
Leisure
Products.
.
.
.
.
.
.
.
.
.
.
.
.
.
$50,100,603
Market
comparables
Discount
for
lack
of
marketability
15.4%
Decrease
c
EV
/
revenue
multiple
5.7x
Increase
d
Convertible
Preferred
Stocks:
Diversified
Consumer
Services
..
6,933,217
Discounted
cash
flow
Discount
for
lack
of
marketability
17.8%
Decrease
c
Discount
rate
17.2%
Decrease
c
Long
term
growth
rate
5.0%
Increase
Volatility
of
peers
69.4%
Decrease
Software.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
...
35,591,559
Discounted
cash
flow
Discount
for
lack
of
marketability
19.1%
Decrease
c
Discount
rate
22.3%
Decrease
c
Long
term
growth
rate
2.5%
Increase
Market
comparables
Discount
for
lack
of
marketability
15.8%
-
16.5%
(16.1%)
Decrease
c
EV
/
revenue
multiple
8.2x
-
46.3x
(23.1x)
Increase
c
Option
pricing
model
Volatility
of
peers
57.7%
Decrease
c
Preferred
Stocks:
Semiconductors
&
Semiconductor
Equipment
..................
6,097,811
Discounted
cash
flow
Discount
for
lack
of
marketability
13.4%
Decrease
Discount
rate
12.7%
Decrease
Terminal
value
multiple
18.0x
Increase
c
Market
comparables
EV
/
revenue
multiple
5.3x
-
8.5x
Increase
c
Volatility
of
peers
40.8%
Decrease
All
Other
Investments
..........
7,404,153
e,f
Total
.......................
$106,127,343
6. Fair
Value
Measurements 
(continued)
Franklin
Strategic
Series
Notes
to
Schedules
of
Investments
(unaudited)
230
Quarterly
Schedules
of
Investments
Description
Fair
Value
at
End
of
Period
Valuation
Technique
Unobservable
Inputs
Amount
/
Range
(Weighted
Average)
a
Impact
to
Fair
Value
if
Input
Increases
b
Franklin
Strategic
Income
Fund
Assets:
Investments
in
Securities:
Marketplace
Loans:
Diversified
Financial
Services
...
$76,169,550
Discounted
cash
flow
Loss-adjusted
discount
rate
2.6%
-
10.7%
(8.8%)
Decrease
d
Projected
loss
rate
5.2%
-
22.6%
(13.3%)
Decrease
d
All
Other
Investments
..........
4,904,525
e,f
Total
.......................
$81,074,075
a
Weighted
based
on
the
relative
fair
value
of
the
financial
instruments.
b
Represents
the
directional
change
in
the
fair
value
that
would
result
from
a
significant
and
reasonable
increase
in
the
corresponding
input.
A
significant
and
reasonable
decrease
in
the
input
would
have
the
opposite
effect.
Significant
impacts,
if
any,
to
fair
value
and/or
net
assets
have
been
indicated.
c
Represents
a
significant
impact
to
fair
value
but
not
net
assets.
d
Represents
a
significant
impact
to
fair
value
and
net
assets.
e
Includes
fair
value
of
immaterial
assets
and/or
liabilities
developed
using
various
valuation
techniques
and
unobservable
inputs.
May
also
include
values
derived
using
private
transaction
prices
or
non-public
third
party
pricing
information
which
is
unobservable.
f
Includes
securities
determined
to
have
no
value
at
July
31,
2022.
Abbreviations
List
EBITDA
-
Earnings
before
interest,
taxes,
depreciation
and
amortization
EV
-
Enterprise
value
6. Fair
Value
Measurements 
(continued)
Franklin
Strategic
Series
Notes
to
Schedules
of
Investments
(unaudited)
231
Quarterly
Schedules
of
Investments
Abbreviations
Selected
Portfolio
ADR
American
Depositary
Receipt
BZDIOVRA
Brazil
Inter-Bank
Deposit
Rate
CLO
Collateralized
Loan
Obligation
CME
Chicago
Mercantile
Exchange
CMT
Constant
Monthly
U.S.
Treasury
Securities
Yield
Curve
Rate
Index
CVR
Contingent
Value
Right
EURIBOR
Euro
Inter-Bank
Offer
Rate
FHLMC
Federal
Home
Loan
Mortgage
Corp.
FNMA
Federal
National
Mortgage
Association
FRN
Floating
Rate
Note
GNMA
Government
National
Mortgage
Association
GO
General
Obligation
LIBOR
London
Inter-Bank
Offered
Rate
MBS
Mortgage-Backed
Security
NYRS
New
York
Registry
Shares
PIK
Payment-In-Kind
SOFR
Secured
Overnight
Financing
Rate
T-Note
Treasury
Note
Currency
BRL
Brazilian
Real
COP
Colombian
Peso
DOP
Dominican
Peso
EUR
Euro
GBP
British
Pound
IDR
Indonesian
Rupiah
USD
United
States
Dollar
Counterparty
BNDP
BNP
Paribas
SA
CITI
Citibank
NA
CITI
Citigroup,
Inc.
GSCO
Goldman
Sachs
Group,
Inc.
JPHQ
JPMorgan
Chase
Bank
NA
Index
CDX.NA.EM.
Series
number
CDX
North
America
Emerging
Markets
Index
CDX.NA.HY.
Series
number
CDX
North
America
High
Yield
Index
MCDX.NA.Series
number
MCDX
North
America
Index
For
additional
information
on
the
Funds'
significant
accounting
policies,
please
refer
to
the Funds'
most
recent
semiannual
or
annual
shareholder
report.