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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Franklin Systematic Style Premia ETF</name>
        <lei>549300FEMFRM3FWBHG39</lei>
        <title>Franklin Systematic Style Premia ETF</title>
        <cusip>35473P546</cusip>
        <identifiers>
          <isin value="US35473P5465"/>
          <other otherDesc="Inhouse Asset ID" value="1014598"/>
        </identifiers>
        <balance>24563.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>587301.33000000</valUSD>
        <pctVal>1.043994871170</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Investment company"/>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Templeton Foreign Fund</name>
        <lei>549300XGZSBD9O0E1I88</lei>
        <title>Templeton Foreign Fund, Class R6</title>
        <cusip>880196878</cusip>
        <identifiers>
          <isin value="US8801968780"/>
          <other otherDesc="Inhouse Asset ID" value="538734"/>
        </identifiers>
        <balance>253750.66400000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1895517.46000000</valUSD>
        <pctVal>3.369497743948</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Investment company"/>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Franklin U.S. Core Equity (IU) Fund</name>
        <lei>549300EV7Q7FYQ96LR11</lei>
        <title>Franklin U.S. Core Equity (IU) Fund</title>
        <cusip>35473A614</cusip>
        <identifiers>
          <isin value="US35473A6148"/>
          <other otherDesc="Inhouse Asset ID" value="998763"/>
        </identifiers>
        <balance>781412.38800000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13487177.82000000</valUSD>
        <pctVal>23.97499162931</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Investment company"/>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Franklin U.S. Equity Index ETF</name>
        <lei>549300JHHNB9812HZJ73</lei>
        <title>Franklin U.S. Equity Index ETF</title>
        <cusip>35473P405</cusip>
        <identifiers>
          <isin value="US35473P4054"/>
          <other otherDesc="Inhouse Asset ID" value="632728"/>
        </identifiers>
        <balance>112205.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5761109.62000000</valUSD>
        <pctVal>10.24102720068</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Investment company"/>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BNP Paribas Securities Corp.</name>
        <lei>2J5703FH5U5M97R1I237</lei>
        <title>BNP Paribas Securities Corp.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
        </identifiers>
        <balance>192572.03112209</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>192572.03112209</valUSD>
        <pctVal>0.342318674507</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="2J5703FH5U5M97R1I237" name="BNP Paribas Securities Corp."/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>4.40974399</repurchaseRt>
          <maturityDt>2025-01-02</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>200595.77628370</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>196458.48839303</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Franklin Growth Fund</name>
        <lei>549300HNBBCTK2YQED48</lei>
        <title>Franklin Growth Fund, Class R6</title>
        <cusip>353496649</cusip>
        <identifiers>
          <isin value="US3534966490"/>
          <other otherDesc="Inhouse Asset ID" value="538738"/>
        </identifiers>
        <balance>57522.99200000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7746621.33000000</valUSD>
        <pctVal>13.77049995343</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Investment company"/>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Deutsche Bank Securities Inc.</name>
        <lei>9J6MBOOO7BECTDTUZW19</lei>
        <title>Deutsche Bank Securities Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
        </identifiers>
        <balance>125685.49585480</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>125685.49585480</valUSD>
        <pctVal>0.223420255242</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="9J6MBOOO7BECTDTUZW19" name="Deutsche Bank Securities Inc."/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>4.40974399</repurchaseRt>
          <maturityDt>2025-01-02</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>127978.34381398</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>128200.34418621</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Putnam Large Cap Value Fund</name>
        <lei>CZH3VR3I6CWL6QA8GG38</lei>
        <title>Putnam Large Cap Value Fund, Class R6</title>
        <cusip>746745801</cusip>
        <identifiers>
          <isin value="US7467458011"/>
          <other otherDesc="Inhouse Asset ID" value="1316174"/>
        </identifiers>
        <balance>130246.11000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4492188.33000000</valUSD>
        <pctVal>7.985375372553</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Investment company"/>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Templeton Developing Markets Trust</name>
        <lei>549300ZJC3KUG08IH343</lei>
        <title>Templeton Developing Markets Trust, Class R6</title>
        <cusip>88018W609</cusip>
        <identifiers>
          <isin value="US88018W6093"/>
          <other otherDesc="Inhouse Asset ID" value="538724"/>
        </identifiers>
        <balance>103747.20300000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1927623.03000000</valUSD>
        <pctVal>3.426569043985</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Investment company"/>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>iShares Core MSCI EAFE ETF</name>
        <lei>5493009FT582MI7Y3I36</lei>
        <title>iShares Core MSCI EAFE ETF</title>
        <cusip>46432F842</cusip>
        <identifiers>
          <isin value="US46432F8427"/>
          <other otherDesc="Inhouse Asset ID" value="613005"/>
        </identifiers>
        <balance>17332.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1218092.96000000</valUSD>
        <pctVal>2.165298694025</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Investment company"/>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC Securities (USA) Inc.</name>
        <lei>CYYGQCGNHMHPSMRL3R97</lei>
        <title>HSBC Securities (USA) Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
        </identifiers>
        <balance>77029.60302309</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>77029.60302309</valUSD>
        <pctVal>0.136928875138</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="CYYGQCGNHMHPSMRL3R97" name="HSBC Securities (USA) Inc."/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>4.40974399</repurchaseRt>
          <maturityDt>2025-01-02</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>10483.46858740</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>10514.03276871</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>ADAS</invstCat>
            </repurchaseCollateral>
            <repurchaseCollateral>
              <principalAmt>68052.54364133</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>68055.29778516</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Franklin U.S. Core Bond ETF</name>
        <lei>549300IKA3VXH7FL6377</lei>
        <title>Franklin U.S. Core Bond ETF</title>
        <cusip>35473P553</cusip>
        <identifiers>
          <isin value="US35473P5531"/>
          <other otherDesc="Inhouse Asset ID" value="1006612"/>
        </identifiers>
        <balance>82009.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1729569.81000000</valUSD>
        <pctVal>3.074506933213</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Investment company"/>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Institutional Fiduciary Trust - Money Market Portfolio</name>
        <lei>549300M4TP89K77LG374</lei>
        <title>Institutional Fiduciary Trust - Money Market Portfolio</title>
        <cusip>457756500</cusip>
        <identifiers>
          <isin value="US4577565009"/>
          <other otherDesc="Inhouse Asset ID" value="170875"/>
        </identifiers>
        <balance>223845.21100000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>223845.21000000</valUSD>
        <pctVal>0.397910304708</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-01-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Franklin Fund Allocator Series</ncom:nameOfApplicant>
      <ncom:signature>Monica Krogh</ncom:signature>
      <ncom:signerName>Monica Krogh</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
