FTIF - Franklin High Yield Fund

Security Identifier

Security Name

Shares/

Positions Held

Market Value

% of TNA

Coupon Rate

Maturity Date 68245XAM1 1011778 BC ULC / NEW RED FINANCE

INC 5,100,000 $5,055,375 0.39% 4.00% 10/15/30

01883LAA1 ALLIANT HOLDINGS INTERMEDIATE

LLC / ALLIANT HOLDINGS CO-ISSUER 10,200,000 $10,570,566 0.81% 6.75% 10/15/27

019579AA9

ALLIED UNIVERSAL HOLDCO LLC/

ALLIED UNIVERSAL FINANCE CORP/

ATLAS LUXCO 4 SARL

3,600,000 $3,598,920 0.27% 4.63% 06/01/28

019736AG2 ALLISON TRANSMISSION INC 6,000,000 $5,842,500 0.45% 3.75% 01/30/31

02156TAB0 ALTICE FRANCE HOLDING SA 12,000,000 $13,138,200 1.00% 10.50% 05/15/27

02156LAC5 ALTICE FRANCE SA/FRANCE 5,000,000 $5,091,350 0.39% 5.50% 01/15/28

00253XAA9 AMERICAN AIRLINES INC /

AADVANTAGE LOYALTY IP LTD 4,900,000 $5,157,250 0.39% 5.50% 04/20/26

00253XAB7 AMERICAN AIRLINES INC /

AADVANTAGE LOYALTY IP LTD 3,100,000 $3,344,125 0.26% 5.75% 04/20/29

031652BK5 AMKOR TECHNOLOGY INC 7,200,000 $7,722,000 0.59% 6.63% 09/15/27

03212B103 AMPLIFY ENERGY CORP 5,430 $28,887 0.00% N/A N/A

03254TAC7 ANAGRAM INTERNATIONAL INC 557,357 $549,980 0.04% 5.00% 08/15/26

03674XAQ9 ANTERO RESOURCES CORP 2,300,000 $2,574,275 0.20% 7.63% 02/01/29

03674XAS5 ANTERO RESOURCES CORP 1,800,000 $1,897,920 0.14% 5.38% 03/01/30

03762UAD7 APOLLO COMMERCIAL REAL ESTATE

FINANCE INC 9,000,000 $8,741,790 0.67% 4.63% 06/15/29

00213MAW4 APX GROUP INC 6,500,000 $6,424,925 0.49% 5.75% 07/15/29

039653AA8 ARCOSA INC 2,100,000 $2,128,875 0.16% 4.38% 04/15/29

03969YAB4

ARDAGH METAL PACKAGING FINANCE USA LLC / ARDAGH METAL PACKAGING FINANCE PLC

4,800,000 $4,860,000 0.37% 4.00% 09/01/29

03969AAR1 ARDAGH PACKAGING FINANCE PLC /

ARDAGH HOLDINGS USA INC 4,000,000 $4,077,500 0.31% 5.25% 08/15/27

045086AK1 ASHTON WOODS USA LLC / ASHTON

WOODS FINANCE CO 10,000,000 $10,646,350 0.81% 6.63% 01/15/28

04916WAA2 ATLANTICA SUSTAINABLE

INFRASTRUCTURE PLC 3,100,000 $3,207,725 0.24% 4.13% 06/15/28

05453GAC9 AXALTA COATING SYSTEMS LLC 3,200,000 $3,116,000 0.24% 3.38% 02/15/29

060335AA4 BANIJAY ENTERTAINMENT SASU 9,500,000 $9,808,750 0.75% 5.38% 03/01/25

September 30, 2021

FTIF - Franklin High Yield Fund

Portfolio Holdings

The following portfolio data for the Franklin Templeton funds is made available to the public under our Portfolio Holdings Release Policy and is "as of" the date indicated.

This portfolio data should not be relied upon as a complete listing of a fund's holdings (or of a fund's top holdings) as information on particular holdings may be withheld if it is in the fund's interest to do so. Additionally, foreign currency forwards are not included in the portfolio data. Instead, the net market value of all currency forward contracts is included in cash and other net assets of the fund. Further, portfolio holdings data of over-the-counter derivative investments such as Credit Default Swaps, Interest Rate Swaps or other Swap contracts list only the name of counterparty to the

derivative contract, not the details of the derivative. Complete portfolio data can be found in the semi- and annual

financial statements of the fund.

501797AW4 BATH & BODY WORKS INC 3,300,000 $3,749,625 0.29% 6.63% 10/01/30

07134L115 BATTALION OIL CORP 15,364 $2,694 0.00% N/A 10/08/22

07134L123 BATTALION OIL CORP 12,290 $3,351 0.00% N/A 10/08/22

07134L131 BATTALION OIL CORP 19,753 $1,925 0.00% N/A 10/08/22

071734AC1 BAUSCH HEALTH COS INC 1,900,000 $1,992,625 0.15% 5.75% 08/15/27

071734AL1 BAUSCH HEALTH COS INC 1,500,000 $1,381,582 0.11% 5.25% 02/15/31

91831AAC5 BAUSCH HEALTH COS INC 14,450,000 $14,766,455 1.13% 6.13% 04/15/25

05508WAB1 B&G FOODS INC 9,000,000 $9,399,420 0.72% 5.25% 09/15/27

091935AE6 BLACKBOARD INC 10,000,000 $10,562,500 0.81% 10.38% 11/15/24

103557AC8 BOYNE USA INC 2,300,000 $2,377,625 0.18% 4.75% 05/15/29

12687GAA7 CABLEVISION LIGHTPATH LLC 2,900,000 $2,849,685 0.22% 3.88% 09/15/27

BK1276827 CAESARS ENTERTAINMENT INC 7,200,000 $7,588,854 0.58% 6.25% 07/01/25

12770RAA1 CAESARS RESORT COLLECTION LLC /

CRC FINCO INC 3,000,000 $3,166,425 0.24% 5.75% 07/01/25

131347CM6 CALPINE CORP 3,000,000 $3,063,750 0.23% 4.50% 02/15/28

131347CN4 CALPINE CORP 7,000,000 $7,097,888 0.54% 5.13% 03/15/28

131347CP9 CALPINE CORP 2,800,000 $2,761,500 0.21% 4.63% 02/01/29

131347CQ7 CALPINE CORP 3,300,000 $3,304,125 0.25% 5.00% 02/01/31

131477AQ4

CALUMET SPECIALTY PRODUCTS PARTNERS LP / CALUMET FINANCE CORP

10,400,000 $10,322,000 0.79% 7.75% 04/15/23

13323AAB6 CAMELOT FINANCE SA 8,100,000 $8,424,000 0.64% 4.50% 11/01/26

143658BL5 CARNIVAL CORP 2,900,000 $3,099,375 0.24% 7.63% 03/01/26

143658BN1 CARNIVAL CORP 10,500,000 $10,867,500 0.83% 5.75% 03/01/27

1248EPCB7 CCO HOLDINGS LLC / CCO HOLDINGS

CAPITAL CORP 3,100,000 $3,351,875 0.26% 5.38% 06/01/29

1248EPCE1 CCO HOLDINGS LLC / CCO HOLDINGS

CAPITAL CORP 13,800,000 $14,254,986 1.09% 4.50% 08/15/30

1248EPCK7 CCO HOLDINGS LLC / CCO HOLDINGS

CAPITAL CORP 900,000 $916,740 0.07% 4.25% 02/01/31

12513GBF5 CDW LLC / CDW FINANCE CORP 2,000,000 $2,052,500 0.16% 3.25% 02/15/29

15135UAF6 CENOVUS ENERGY INC 3,800,000 $5,178,360 0.40% 6.75% 11/15/39

15135UAR0 CENOVUS ENERGY INC 2,500,000 $3,072,467 0.23% 5.40% 06/15/47

15135BAX9 CENTENE CORP 10,700,000 $10,566,250 0.81% 2.50% 03/01/31

15135BAY7 CENTENE CORP 3,800,000 $3,823,750 0.29% 2.45% 07/15/28

12527GAF0 CF INDUSTRIES INC 5,800,000 $7,113,091 0.54% 5.15% 03/15/34

159864AG2 CHARLES RIVER LABORATORIES

INTERNATIONAL INC 1,300,000 $1,329,250 0.10% 3.75% 03/15/29

16411RAK5 CHENIERE ENERGY INC 6,000,000 $6,330,000 0.48% 4.63% 10/15/28

16411QAH4 CHENIERE ENERGY PARTNERS LP 14,500,000 $15,202,525 1.16% 4.00% 03/01/31

16411QAL5 CHENIERE ENERGY PARTNERS LP 2,100,000 $2,109,555 0.16% 3.25% 01/31/32

165167DF1 CHESAPEAKE ENERGY CORP 2,600,000 $2,720,250 0.21% 5.50% 02/01/26

12543DBG4 CHS/COMMUNITY HEALTH SYSTEMS

INC 2,300,000 $2,411,274 0.18% 5.63% 03/15/27

12543DBH2 CHS/COMMUNITY HEALTH SYSTEMS

INC 2,300,000 $2,440,875 0.19% 6.00% 01/15/29

12543DBL3 CHS/COMMUNITY HEALTH SYSTEMS

INC 3,600,000 $3,502,944 0.27% 6.13% 04/01/30

BMXFRB5 CLEAR CHANNEL INTERNATIONAL BV 5,000,000 $5,224,375 0.40% 6.63% 08/01/25

18453HAD8 CLEAR CHANNEL OUTDOOR HOLDINGS

INC 1,400,000 $1,457,750 0.11% 7.50% 06/01/29

18453HAA4 CLEAR CHANNEL WORLDWIDE

HOLDINGS INC 5,900,000 $6,113,167 0.47% 5.13% 08/15/27

18539UAC9 CLEARWAY ENERGY OPERATING LLC 10,000,000 $10,598,500 0.81% 4.75% 03/15/28 18539UAE5 CLEARWAY ENERGY OPERATING LLC 3,800,000 $3,828,500 0.29% 3.75% 01/15/32

62943WAE9 CLEARWAY ENERGY OPERATING LLC/

DE 6,600,000 $6,777,705 0.52% 5.00% 09/15/26

19240CAC7 COGENT COMMUNICATIONS GROUP

INC 3,400,000 $3,451,000 0.26% 3.50% 05/01/26

203372AV9 COMMSCOPE INC 10,200,000 $10,423,176 0.80% 7.13% 07/01/28

21039CAB0 CONSTELLIUM SE 6,900,000 $6,732,399 0.51% 3.75% 04/15/29

212015AT8 CONTINENTAL RESOURCES INC/OK 4,000,000 $4,840,000 0.37% 5.75% 01/15/31

226373AP3

CRESTWOOD MIDSTREAM PARTNERS LP / CRESTWOOD MIDSTREAM FINANCE CORP

8,200,000 $8,384,500 0.64% 5.75% 04/01/25

226373AR9

CRESTWOOD MIDSTREAM PARTNERS LP / CRESTWOOD MIDSTREAM FINANCE CORP

4,000,000 $4,190,892 0.32% 6.00% 02/01/29

228701AG3 CROWNROCK LP / CROWNROCK

FINANCE INC 2,000,000 $2,090,700 0.16% 5.00% 05/01/29

126307AH0 CSC HOLDINGS LLC 15,900,000 $17,052,432 1.30% 5.25% 06/01/24

12652HAC2 CSI COMPRESSCO LP / CSI

COMPRESSCO FINANCE INC 2,187,000 $2,157,836 0.16% 7.50% 04/01/25

12652HAE8 CSI COMPRESSCO LP / CSI

COMPRESSCO FINANCE INC 6,987,180 $6,483,334 0.49% 7.25% 04/01/26

12663QAC9 CVR PARTNERS LP / CVR NITROGEN

FINANCE CORP 2,700,000 $2,835,000 0.22% 6.13% 06/15/28

23918KAS7 DAVITA INC 5,800,000 $5,973,192 0.46% 4.63% 06/01/30

830867AB3 DELTA AIR LINES INC / SKYMILES IP LTD 7,000,000 $7,809,325 0.60% 4.75% 10/20/28

25257DAA6 DIAMOND BC BV 2,700,000 $2,743,915 0.21% 4.63% 10/01/29

25277LAA4 DIAMOND SPORTS GROUP LLC /

DIAMOND SPORTS FINANCE CO 8,500,000 $5,620,625 0.43% 5.38% 08/15/26

25461LAA0 DIRECTV HOLDINGS LLC / DIRECTV

FINANCING CO INC 2,200,000 $2,299,000 0.18% 5.88% 08/15/27

25470XAW5 DISH DBS CORP 8,500,000 $9,150,505 0.70% 5.88% 11/15/24

25830JAA9 DORNOCH DEBT MERGER SUB INC 7,100,000 $7,108,875 0.54% 6.63% 10/15/29

23345MAA5 DT MIDSTREAM INC 6,400,000 $6,497,984 0.50% 4.13% 06/15/29

28618MAA4 ELEMENT SOLUTIONS INC 6,100,000 $6,168,625 0.47% 3.88% 09/01/28

29260FAE0 ENDEAVOR ENERGY RESOURCES LP /

EER FINANCE INC 3,800,000 $4,004,250 0.31% 5.75% 01/30/28

29260FAF7 ENDEAVOR ENERGY RESOURCES LP /

EER FINANCE INC 1,400,000 $1,477,000 0.11% 6.63% 07/15/25

29273DAB6 ENDO DAC / ENDO FINANCE LLC / ENDO

FINCO INC 3,974,000 $3,988,346 0.30% 9.50% 07/31/27

29273DAC4 ENDO DAC / ENDO FINANCE LLC / ENDO

FINCO INC 789,000 $565,539 0.04% 6.00% 06/30/28

29336TAC4 ENLINK MIDSTREAM LLC 3,500,000 $3,730,965 0.28% 5.63% 01/15/28

26884LAM1 EQT CORP 1,100,000 $1,129,007 0.09% 3.13% 05/15/26

33767DAB1 FIRSTCASH INC 3,300,000 $3,427,875 0.26% 4.63% 09/01/28

DDD1155222 FIRST STUDENT BIDCO INC / FIRST

TRANSIT PARENT INC 7,700,000 $7,603,750 0.58% 4.00% 07/31/29

30251GAW7 FMG RESOURCES AUGUST 2006 PTY

LTD 4,500,000 $4,810,725 0.37% 5.13% 05/15/24

30251GBC0 FMG RESOURCES AUGUST 2006 PTY

LTD 8,000,000 $8,276,800 0.63% 4.38% 04/01/31

346232AF8 FORESTAR GROUP INC 4,400,000 $4,402,156 0.34% 3.85% 05/15/26

364760AP3 GAP INC/THE 6,200,000 $6,223,250 0.47% 3.63% 10/01/29

366651AC1 GARTNER INC 4,000,000 $4,205,000 0.32% 4.50% 07/01/28

366651AE7 GARTNER INC 2,400,000 $2,473,080 0.19% 3.75% 10/01/30

366651AG2 GARTNER INC 1,700,000 $1,715,045 0.13% 3.63% 06/15/29

37892AAA8 GLOBAL NET LEASE INC / GLOBAL NET

LEASE OPERATING PARTNERSHIP LP 7,100,000 $7,055,892 0.54% 3.75% 12/15/27

382410843 GOODRICH PETROLEUM CORP 576,519 $13,640,439 1.04% N/A N/A

DDD1136942 GOODRICH PETROLEUM CORP 6,286,233 $8,373,118 0.64% 13.50% 05/31/23

382550BH3 GOODYEAR TIRE & RUBBER CO/THE 2,700,000 $2,966,625 0.23% 9.50% 05/31/25 382550BL4 GOODYEAR TIRE & RUBBER CO/THE 7,500,000 $7,968,750 0.61% 5.00% 07/15/29

64051NAA1 GPD COS INC 6,000,000 $6,506,640 0.50% 10.13% 04/01/26

389284AA8 GRAY TELEVISION INC 5,400,000 $5,798,250 0.44% 7.00% 05/15/27

389375AL0 GRAY TELEVISION INC 2,700,000 $2,656,125 0.20% 4.75% 10/15/30

418751AB9 HAT HOLDINGS I LLC / HAT HOLDINGS II

LLC 6,300,000 $6,591,375 0.50% 6.00% 04/15/25

404119CA5 HCA INC 3,800,000 $4,029,482 0.31% 3.50% 09/01/30

404030AJ7 H&E EQUIPMENT SERVICES INC 4,100,000 $4,089,135 0.31% 3.88% 12/15/28

42704LAA2 HERC HOLDINGS INC 7,100,000 $7,458,372 0.57% 5.50% 07/15/27

431318AU8 HILCORP ENERGY I LP / HILCORP

FINANCE CO 300,000 $308,625 0.02% 5.75% 02/01/29

431318AV6 HILCORP ENERGY I LP / HILCORP

FINANCE CO 2,100,000 $2,161,530 0.16% 6.00% 02/01/31

44055PAA4 HORIZON THERAPEUTICS USA INC 10,000,000 $10,612,500 0.81% 5.50% 08/01/27

44267DAD9 HOWARD HUGHES CORP/THE 3,100,000 $3,270,500 0.25% 5.38% 08/01/28

444454AF9 HUGHES SATELLITE SYSTEMS CORP 12,050,000 $13,716,241 1.05% 6.63% 08/01/26

45688CAB3 INGEVITY CORP 3,900,000 $3,895,125 0.30% 3.88% 11/01/28

45867XAG9 INTERGEN NV 11,300,000 $11,176,095 0.85% 7.00% 06/30/23

460599AE3 INTERNATIONAL GAME TECHNOLOGY

PLC 3,500,000 $3,745,070 0.29% 5.25% 01/15/29

460599AF0 INTERNATIONAL GAME TECHNOLOGY

PLC 1,500,000 $1,560,930 0.12% 4.13% 04/15/26

47010BAM6 JAGUAR LAND ROVER AUTOMOTIVE

PLC 10,900,000 $10,639,381 0.81% 5.50% 07/15/29

46592QAA7 JBS FINANCE LUXEMBOURG SARL 3,200,000 $3,264,032 0.25% 3.63% 01/15/32

472481AA8 JEFFERSON CAPITAL HOLDINGS LLC 7,600,000 $7,819,640 0.60% 6.00% 08/15/26

48126HAA8 JPMORGAN CHASE & CO 13,000,000 $13,732,875 1.05% 6.00% 02/01/70

50077LBC9 KRAFT HEINZ FOODS CO 2,600,000 $2,840,480 0.22% 3.88% 05/15/27

505742AP1 LADDER CAPITAL FINANCE HOLDINGS

LLLP / LADDER CAPITAL FINANCE CORP 2,500,000 $2,485,500 0.19% 4.75% 06/15/29

50201DAA1 LCPR SENIOR SECURED FINANCING

DAC 6,600,000 $7,004,250 0.53% 6.75% 10/15/27

536797AE3 LITHIA MOTORS INC 4,300,000 $4,533,533 0.35% 4.63% 12/15/27

536797AF0 LITHIA MOTORS INC 4,700,000 $5,023,125 0.38% 4.38% 01/15/31

538034AX7 LIVE NATION ENTERTAINMENT INC 1,600,000 $1,592,500 0.12% 3.75% 01/15/28 573334AH2 MARTIN MIDSTREAM PARTNERS L.P. 17,249,603 $17,923,027 1.37% 11.50% 02/28/25 573334AF6 MARTIN MIDSTREAM PARTNERS LP 3,377,674 $3,485,269 0.27% 10.00% 02/29/24

57665RAN6 MATCH GROUP HOLDINGS II LLC 4,700,000 $4,919,607 0.38% 4.63% 06/01/28

57667JAA0 MATCH GROUP HOLDINGS II LLC 1,300,000 $1,286,194 0.10% 3.63% 10/01/31

12429TAE4 MAUSER PACKAGING SOLUTIONS

HOLDING CO 18,700,000 $18,610,240 1.42% 7.25% 04/15/25

57763RAA5 MAUSER PACKAGING SOLUTIONS

HOLDING CO 3,000,000 $3,123,420 0.24% 8.50% 04/15/24

58502BAC0 MEDNAX INC 7,500,000 $7,893,750 0.60% 6.25% 01/15/27

552848AG8 MGIC INVESTMENT CORP 4,000,000 $4,273,200 0.33% 5.25% 08/15/28

55303XAL9

MGM GROWTH PROPERTIES OPERATING PARTNERSHIP LP / MGP FINANCE CO-ISSUER INC

3,000,000 $3,198,750 0.24% 3.88% 02/15/29

55916AAA2 MICHAELS COS INC/THE 2,400,000 $2,478,600 0.19% 5.25% 05/01/28

55916AAB0 MICHAELS COS INC/THE 5,000,000 $5,202,375 0.40% 7.88% 05/01/29

55305BAT8 M/I HOMES INC 5,400,000 $5,422,329 0.41% 3.95% 02/15/30

60783XAA2 MODIVCARE ESCROW ISSUER INC 3,700,000 $3,839,860 0.29% 5.00% 10/01/29

BJQVLM8 MOTION BONDCO DAC 1,900,000 $1,918,306 0.15% 6.63% 11/15/27

553283AC6 MPH ACQUISITION HOLDINGS LLC 13,000,000 $12,265,370 0.94% 5.75% 11/01/28

55342UAG9 MPT OPERATING PARTNERSHIP LP /

MPT FINANCE CORP 5,200,000 $5,356,000 0.41% 5.25% 08/01/26

55342UAM6 MPT OPERATING PARTNERSHIP LP /

MPT FINANCE CORP 5,000,000 $5,106,250 0.39% 3.50% 03/15/31

62704PAM5 MURRAY ENERGY CORP 11,366,019 $57,966 0.00% 9.00% 04/15/24

BL3BQ20 NABORS INDUSTRIES LTD 5,000,000 $4,870,975 0.37% 7.25% 01/15/26

63938CAE8 NAVIENT CORP 6,100,000 $6,659,797 0.51% 7.25% 09/25/23

62886HBA8 NCL CORP LTD 2,500,000 $2,565,862 0.20% 5.88% 03/15/26

64110LAN6 NETFLIX INC 5,300,000 $5,929,375 0.45% 4.38% 11/15/26

64110LAU0 NETFLIX INC 2,100,000 $2,546,250 0.19% 5.38% 11/15/29

64110LAY2 NETFLIX INC 2,900,000 $3,084,875 0.24% 3.63% 06/15/25

65249BAA7 NEWS CORP 1,800,000 $1,851,750 0.14% 3.88% 05/15/29

65336YAN3 NEXSTAR MEDIA INC 1,000,000 $1,038,635 0.08% 4.75% 11/01/28

65343HAA9 NEXSTAR MEDIA INC 5,300,000 $5,613,892 0.43% 5.63% 07/15/27

65409QBH4 NIELSEN FINANCE LLC / NIELSEN

FINANCE CO 8,000,000 $7,832,400 0.60% 4.50% 07/15/29

65409QBK7 NIELSEN FINANCE LLC / NIELSEN

FINANCE CO 2,000,000 $1,948,100 0.15% 4.75% 07/15/31

667449AC6 NORTHWEST FIBER LLC / NORTHWEST

FIBER FINANCE SUB INC 2,500,000 $2,490,225 0.19% 6.00% 02/15/28

670001AE6 NOVELIS CORP 7,200,000 $7,588,440 0.58% 4.75% 01/30/30

67421QAA0 OASIS MIDSTREAM PARTNERS LP /

OMP FINANCE CORP 2,400,000 $2,499,804 0.19% 8.00% 04/01/29

674599DF9 OCCIDENTAL PETROLEUM CORP 6,100,000 $7,682,187 0.59% 6.45% 09/15/36

674599EA9 OCCIDENTAL PETROLEUM CORP 9,500,000 $12,916,960 0.99% 8.88% 07/15/30

674599ED3 OCCIDENTAL PETROLEUM CORP 2,700,000 $3,331,125 0.25% 6.63% 09/01/30

674599EF8 OCCIDENTAL PETROLEUM CORP 3,000,000 $3,605,175 0.28% 6.13% 01/01/31

85172FAQ2 ONEMAIN FINANCE CORP 7,100,000 $8,173,875 0.62% 6.63% 01/15/28

85172FAR0 ONEMAIN FINANCE CORP 4,300,000 $4,665,930 0.36% 5.38% 11/15/29

682189AQ8 ON SEMICONDUCTOR CORP 2,000,000 $2,067,500 0.16% 3.88% 09/01/28

68622TAA9 ORGANON & CO / ORGANON FOREIGN

DEBT CO-ISSUER BV 6,300,000 $6,433,875 0.49% 4.13% 04/30/28

68622TAB7 ORGANON & CO / ORGANON FOREIGN

DEBT CO-ISSUER BV 3,500,000 $3,680,600 0.28% 5.13% 04/30/31

68752DAC2 ORTHO-CLINICAL DIAGNOSTICS INC /

ORTHO-CLINICAL DIAGNOSTICS SA 320,000 $338,097 0.03% 7.38% 06/01/25

69007TAE4 OUTFRONT MEDIA CAPITAL LLC /

OUTFRONT MEDIA CAPITAL CORP 3,600,000 $3,572,910 0.27% 4.25% 01/15/29

69073TAR4 OWENS-BROCKWAY GLASS

CONTAINER INC 8,500,000 $9,003,795 0.69% 5.88% 08/15/23

69073TAT0 OWENS-BROCKWAY GLASS

CONTAINER INC 4,800,000 $5,150,280 0.39% 6.63% 05/13/27

DDD1165648

PACTIV EVERGREEN GROUP ISSUER INC. / PACTIV EVERGREEN GROUP ISSUER LLC

1,400,000 $1,407,000 0.11% 4.38% 10/15/28

76174LAA1

PACTIV EVERGREEN GROUP ISSUER INC/PACTIV EVERGREEN GROUP ISSUER LLC/REYNOLDS GRO

9,300,000 $9,218,857 0.70% 4.00% 10/15/27

698813AA0 PAPA JOHN'S INTERNATIONAL INC 2,700,000 $2,689,875 0.21% 3.88% 09/15/29

70052LAB9

PARK INTERMEDIATE HOLDINGS LLC / PK DOMESTIC PROPERTY LLC / PK FINANCE CO-ISSUER

500,000 $529,335 0.04% 5.88% 10/01/28

69888XAA7 PAR PHARMACEUTICAL INC 2,323,000 $2,369,622 0.18% 7.50% 04/01/27

702150AE3 PARTY CITY HOLDINGS INC 479,425 $450,247 0.03% 5.75% 07/15/25

707569AV1 PENN NATIONAL GAMING INC 5,500,000 $5,443,075 0.42% 4.13% 07/01/29

70932MAA5 PENNYMAC FINANCIAL SERVICES INC 4,000,000 $4,118,800 0.31% 5.38% 10/15/25

72147KAG3 PILGRIM'S PRIDE CORP 2,000,000 $2,036,250 0.16% 3.50% 03/01/32

737446AQ7 POST HOLDINGS INC 3,600,000 $3,632,328 0.28% 4.63% 04/15/30

737446AR5 POST HOLDINGS INC 5,500,000 $5,441,590 0.42% 4.50% 09/15/31

69354NAD8 PRA GROUP INC 2,200,000 $2,205,500 0.17% 5.00% 10/01/29

74052HAA2

PREMIER ENTERTAINMENT SUB LLC / PREMIER ENTERTAINMENT FINANCE CORP

4,500,000 $4,550,962 0.35% 5.63% 09/01/29

74052HAB0

PREMIER ENTERTAINMENT SUB LLC / PREMIER ENTERTAINMENT FINANCE CORP

3,500,000 $3,540,922 0.27% 5.88% 09/01/31

74101XAE0 PRESIDIO HOLDINGS INC 3,500,000 $3,618,125 0.28% 4.88% 02/01/27

74101XAF7 PRESIDIO HOLDINGS INC 1,800,000 $1,940,076 0.15% 8.25% 02/01/28

74112BAL9 PRESTIGE BRANDS INC 3,900,000 $4,074,525 0.31% 5.13% 01/15/28

74112BAM7 PRESTIGE BRANDS INC 2,500,000 $2,415,675 0.18% 3.75% 04/01/31

74166MAF3 PRIME SECURITY SERVICES

BORROWER LLC/PRIME FINAN 5,100,000 $4,899,213 0.37% 3.38% 08/31/27

74168LAA4 PRIMO WATER HOLDINGS INC 5,600,000 $5,592,188 0.43% 4.38% 04/30/29

750236AX9 RADIAN GROUP INC 5,300,000 $5,922,750 0.45% 6.63% 03/15/25

75602BAA7 REAL HERO MERGER SUB 2 INC 3,000,000 $3,116,505 0.24% 6.25% 02/01/29

75972AAD5 RENEWABLE ENERGY GROUP INC 3,100,000 $3,208,965 0.24% 5.88% 06/01/28

74841CAA9 ROCKET MORTGAGE LLC / ROCKET

MORTGAGE CO-ISSUER INC 2,100,000 $2,126,250 0.16% 3.63% 03/01/29

74841CAB7 ROCKET MORTGAGE LLC / ROCKET

MORTGAGE CO-ISSUER INC 900,000 $909,000 0.07% 3.88% 03/01/31

77314EAA6 ROCKET SOFTWARE INC 8,800,000 $8,724,144 0.67% 6.50% 02/15/29

BLDBLX6 ROYAL CARIBBEAN CRUISES LTD 3,000,000 $3,087,585 0.24% 5.50% 08/31/26

78433BAA6 SCIH SALT HOLDINGS INC 2,600,000 $2,616,250 0.20% 4.88% 05/01/28

78433BAB4 SCIH SALT HOLDINGS INC 3,500,000 $3,364,445 0.26% 6.63% 05/01/29

81211KAY6 SEALED AIR CORP 2,600,000 $2,773,745 0.21% 4.00% 12/01/27

BNKFMN2 SENSATA TECHNOLOGIES BV 8,000,000 $8,153,600 0.62% 4.00% 04/15/29

829259AY6 SINCLAIR TELEVISION GROUP INC 5,600,000 $5,563,152 0.42% 5.50% 03/01/30

82967NBJ6 SIRIUS XM RADIO INC 5,500,000 $5,599,687 0.43% 4.00% 07/15/28

82967NBL1 SIRIUS XM RADIO INC 3,100,000 $3,146,500 0.24% 3.13% 09/01/26

83001WAC8 SIX FLAGS THEME PARKS INC 1,000,000 $1,066,250 0.08% 7.00% 07/01/25

853496AC1 STANDARD INDUSTRIES INC/NJ 2,300,000 $2,374,750 0.18% 5.00% 02/15/27

853496AD9 STANDARD INDUSTRIES INC/NJ 4,400,000 $4,570,500 0.35% 4.75% 01/15/28

853496AG2 STANDARD INDUSTRIES INC/NJ 1,200,000 $1,225,500 0.09% 4.38% 07/15/30

853496AH0 STANDARD INDUSTRIES INC/NJ 1,300,000 $1,238,835 0.09% 3.38% 01/15/31

86389QAG7 STUDIO CITY FINANCE LTD 9,100,000 $8,403,986 0.64% 5.00% 01/15/29

86722AAD5 SUNCOKE ENERGY INC 5,500,000 $5,486,250 0.42% 4.88% 06/30/29

86765LAQ0 SUNOCO LP / SUNOCO FINANCE CORP 6,000,000 $6,255,000 0.48% 6.00% 04/15/27 86765LAT4 SUNOCO LP / SUNOCO FINANCE CORP 4,600,000 $4,671,387 0.36% 4.50% 05/15/29

87422VAA6 TALEN ENERGY SUPPLY LLC 19,700,000 $9,833,255 0.75% 6.50% 06/01/25

88023JAD8 TEMPO ACQUISITION LLC / TEMPO

ACQUISITION FINANCE CORP 4,800,000 $5,047,056 0.39% 5.75% 06/01/25

88033GCN8 TENET HEALTHCARE CORP 6,300,000 $6,799,275 0.52% 6.75% 06/15/23

88033GDJ6 TENET HEALTHCARE CORP 2,000,000 $2,103,520 0.16% 6.13% 10/01/28

88033GDL1 TENET HEALTHCARE CORP 4,400,000 $4,471,500 0.34% 4.25% 06/01/29

880779BA0 TEREX CORP 7,500,000 $7,781,250 0.59% 5.00% 05/15/29

88167AAN1 TEVA PHARMACEUTICAL FINANCE

NETHERLANDS III BV 4,500,000 $4,927,500 0.38% 7.13% 01/31/25

88829M105 TITAN ENERGY LLC 196,128 $6,903 0.00% N/A N/A

92537RAA7 TK ELEVATOR US NEWCO INC 7,600,000 $7,974,110 0.61% 5.25% 07/15/27

87264ABS3 T-MOBILE USA INC 3,700,000 $3,743,693 0.29% 2.63% 02/15/29

87264ABT1 T-MOBILE USA INC 3,600,000 $3,635,099 0.28% 2.88% 02/15/31

87264ABW4 T-MOBILE USA INC 2,000,000 $2,111,769 0.16% 3.50% 04/15/31

BK0YKJ0 TRIVIUM PACKAGING FINANCE BV 8,200,000 $8,598,192 0.66% 5.50% 08/15/26

87305RAK5 TTM TECHNOLOGIES INC 3,700,000 $3,690,010 0.28% 4.00% 03/01/29

90473LAA0 UNIFRAX ESCROW ISSUER CORP 2,400,000 $2,433,000 0.19% 5.25% 09/30/28

90473LAC6 UNIFRAX ESCROW ISSUER CORP 1,800,000 $1,846,836 0.14% 7.50% 09/30/29

90932LAG2 UNITED AIRLINES INC 1,200,000 $1,233,000 0.09% 4.38% 04/15/26

90932LAH0 UNITED AIRLINES INC 2,400,000 $2,483,280 0.19% 4.63% 04/15/29

914906AS1 UNIVISION COMMUNICATIONS INC 10,600,000 $10,768,010 0.82% 5.13% 02/15/25 914906AV4 UNIVISION COMMUNICATIONS INC 1,400,000 $1,424,500 0.11% 4.50% 05/01/29

92328MAA1 VENTURE GLOBAL CALCASIEU PASS

LLC 2,500,000 $2,578,250 0.20% 3.88% 08/15/29

92328MAB9 VENTURE GLOBAL CALCASIEU PASS

LLC 2,500,000 $2,609,375 0.20% 4.13% 08/15/31

92531L116 VERSO CORP 8,204 $42,045 0.00% N/A 07/25/23

92564RAD7 VICI PROPERTIES LP / VICI NOTE CO

INC 4,000,000 $4,145,000 0.32% 3.75% 02/15/27

926400AA0 VICTORIA'S SECRET & CO 3,800,000 $3,877,805 0.30% 4.63% 07/15/29

92763MAA3 VIPER ENERGY PARTNERS LP 4,300,000 $4,491,887 0.34% 5.38% 11/01/27

92769XAR6 VIRGIN MEDIA SECURED FINANCE PLC 7,400,000 $7,529,500 0.57% 4.50% 08/15/30

92840VAB8 VISTRA OPERATIONS CO LLC 10,300,000 $10,673,993 0.81% 5.63% 02/15/27

91835HAA0 VM CONSOLIDATED INC 3,800,000 $3,870,281 0.30% 5.50% 04/15/29

92858RAA8 VMED O2 UK FINANCING I PLC 3,500,000 $3,495,625 0.27% 4.25% 01/31/31

947075AT4 WEATHERFORD INTERNATIONAL LTD 3,700,000 $3,815,625 0.29% 6.50% 09/15/28

95081QAN4 WESCO DISTRIBUTION INC 800,000 $854,704 0.07% 7.13% 06/15/25

95081QAP9 WESCO DISTRIBUTION INC 3,400,000 $3,769,750 0.29% 7.25% 06/15/28

96950GAE2 WILLIAMS SCOTSMAN INTERNATIONAL

INC 3,000,000 $3,129,045 0.24% 4.63% 08/15/28

983130AX3 WYNN LAS VEGAS LLC / WYNN LAS

VEGAS CAPITAL CORP 13,000,000 $13,148,720 1.00% 5.25% 05/15/27

BMV9TV3 WYNN MACAU LTD 900,000 $858,093 0.07% 5.63% 08/26/28

983133AB5 WYNN RESORTS FINANCE LLC / WYNN

RESORTS CAPITAL CORP 4,100,000 $4,330,707 0.33% 7.75% 04/15/25

98372MAC9 XHR LP 3,100,000 $3,187,854 0.24% 4.88% 06/01/29

Franklin Templeton Investment Management Limited.

Cannon Place, 78 Cannon Street, London, EC4N 6HL

franklintempleton.co.uk

© 2021 Franklin Templeton Investments. All rights reserved.

Source: Franklin Templeton Investments as at 30/09/21 , unless stated otherwise. The fund is a subfund of Franklin Templeton Investment Funds, a Luxembourg-domiciled SICAV. For further information please refer to the relevant Full Prospectus and the relevant Key Investor Information Document.

This document is intended to be of general interest only and does not constitute legal or tax advice nor is it an offer for shares or invitation to apply for shares of Franklin Templeton Investment Funds SICAV.

Nothing in this document should be construed as investment advice. Subscriptions to shares of the fund can only be made on the basis of the current Full Prospectus and, the relevant Key Investor Information Document, accompanied by the latest available audited annual report and the latest semi-annual report if published thereafter. Copies of these documents are available free of charge from our website or from the address listed below.

Important Information

Issued by Franklin Templeton Investment Management Limited (FTIML), Cannon Place,

78 Cannon Street, London EC4N 6HL. FTIML is authorised and regulated in the UK by the Financial Conduct Authority

The value of shares in the fund and income received from it can go down as well as up, and investors may not get back the full amount invested. Past performance is not an indicator or a guarantee of future performance.

Currency fluctuations may affect the value of overseas investments. All or most of

the protections provided by the UK Regulatory System will not apply to Franklin Templeton Investment (SICAV) Investors. An investment in the fund entails risks which are described in the fund’s Full Prospectus and the relevant Key Investor Information Document. Investments in derivative instruments entail specific risks more fully described in the Fund’s prospectus and in the relevant references to particular industries, sectors

or companies are for general information and are not necessarily indicative of a fund’s holding at any one time.

For a free copy of the latest prospectus, the relevant Key Investor Information Document, the annual

report and semi-annual report, if published thereafter or for more information about any Franklin

Templeton Investments’ fund, UK investors should contact: Franklin Templeton Investments,

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