UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-21357

Franklin Limited Duration Income Trust

(Exact name of registrant as specified in charter)

One Franklin Parkway, San Mateo, CA 94403-1906

(Address of principal executive offices) (Zip code)

Alison Baur

Franklin Templeton

One Franklin Parkway,

San Mateo, CA 94403-1906

(Name and address of agent for service)

Registrant’s telephone number, including area code: (650) 312-2000

Date of fiscal year end: December 31

Date of reporting period: June 30, 2025

ITEM 1. REPORT TO STOCKHOLDERS.

(a) The Report to Shareholders is filed herewith

Semiannual

Report

Franklin

Limited

Duration

Income

Trust

June

30,

2025

Not

FDIC

Insured

No

Bank

Guarantee

May

Lose

Value

.

Managed

Distribution

Policy

:

Effective

January

1,

2024,

the

Fund

has

implemented

a

managed

distribution

plan

whereby

the

Fund

will

distribute

a

level

distribution

amount

to

shareholders.

The

Fund

intends

to

make

monthly

distributions

to

shareholders

at

the

fixed

rate

of

$0.0615

per

share.

Management

will

generally

distribute

amounts

necessary

to

satisfy

the

Fund's

plan

and

the

requirements

prescribed

by

excise

tax

rules

and

Subchapter

M

of

the

Internal

Revenue

Code.

The

plan

is

intended

to

provide

shareholders

with

a

consistent

distribution

each

month

and

is

intended

to

narrow

the

discount

between

the

market

price

and

the

NAV

of

the

Fund's

common

shares,

but

there

is

no

assurance

that

the

plan

will

be

successful

in

doing

so.

Under

the

managed

distribution

plan,

to

the

extent

that

sufficient

investment

income

is

not

available

on

a

monthly

basis,

the

Fund

will

distribute

long-term

capital

gains

and/or

return

of

capital

in

order

to

maintain

its

managed

distribution

rate.

No

conclusions

should

be

drawn

about

the

Fund's

investment

performance

from

the

amount

of

the

Fund's

distributions

or

from

the

terms

of

the

Fund's

managed

distribution

plan.

The

Board

may

amend

the

terms

of

the

Plan

or

terminate

the

Plan

at

any

time

without

prior

notice

to

the

Fund’s

shareholders,

however,

at

this

time

there

are

no

reasonably

foreseeable

circumstances

that

might

cause

the

termination

of

the

Plan.

The

amendment

or

termination

of

the

Plan

could

have

an

adverse

effect

on

the

market

price

of

the

Fund’s

common

shares.

The

Plan

will

be

subject

to

the

periodic

review

by

the

Board,

including

a

yearly

review

of

the

annual

minimum

fixed

rate

to

determine

if

an

adjustment

should

be

made.

Shareholders

should

not

draw

any

conclusions

about

the

Fund’s

investment

performance

from

the

amount

of

the

current

distribution

or

from

the

terms

of

the

Fund’s

Plan.

The

Fund

will

send

a

Form

1099-DIV

to

shareholders

for

the

calendar

year

that

will

describe

how

to

report

the

Fund’s

distributions

for

federal

income

tax

purposes.

Please

see

the

"Important

Information

to

Shareholders"

section

for

additional

information.

franklintempleton.com

Semiannual

Report

1

Contents

Fund

Overview

2

Performance

Summary

4

Financial

Highlights

and

Schedule

of

Investments

6

Financial

Statements

119

Notes

to

Financial

Statements

123

Important

Information

to

Shareholders

135

Annual

Meeting

of

Shareholders

136

Dividend

Reinvestment

and

Cash

Purchase

Plan

137

Shareholder

Information

139

Visit

franklintempleton.com

for

fund

updates,

to

access

your

account,

or

to

find

helpful

financial

planning

tools.

2

franklintempleton.com

Semiannual

Report

Franklin

Limited

Duration

Income

Trust

Dear

Shareholder,

This

semiannual

report

for

Franklin

Limited

Duration

Income

Trust

covers

the

period

ended

June

30,

2025.

Fund

Overview

Your

Fund’s

Goal

and

Main

Investments

The

Fund

seeks

to

provide

high

current

income,

with

a

secondary

objective

of

capital

appreciation

to

the

extent

possible

and

consistent

with

the

Fund’s

primary

objective,

through

a

portfolio

consisting

primarily

of

high-yield

corporate

bonds,

floating

rate

corporate

loans

and

mortgage-backed

and

other

asset-backed

securities.

We

invest

in

a

diversified

mix

of

fixed

income

securities,

primarily

high-yield

corporate

bonds,

senior

secured

floating

rate

corporate

loans,

and

mortgage-backed

and

other

asset-backed

securities.

The

Fund

may

also

invest

a

portion

in

marketplace

loans.

Our

top-down

analysis

of

macroeconomic

trends

combined

with

a

bottom-up

analysis

of

market

sectors,

industries

and

issuers

drives

our

investment

process.

We

seek

to

maintain

a

limited

duration,

or

interest-rate

sensitivity,

to

moderate

the

impact

that

fluctuating

interest

rates

might

have

on

the

Fund’s

fixed

income

portfolio.

Within

the

corporate

bond

and

corporate

loan

sectors,

we

seek

securities

trading

at

reasonable

valuations

from

issuers

with

characteristics

such

as

strong

market

positions,

stable

cash

flows,

reasonable

capital

structures,

supportive

asset

values,

strong

sponsorship

and

improving

credit

fundamentals.

In

the

mortgage-backed

and

other

asset-backed

securities

sector,

we

look

to

capture

an

attractive

income

stream

and

total

return

through

our

analysis

of

security

prepayment

assumptions,

potential

pricing

inefficiencies

and

underlying

collateral

characteristics.

Performance

Overview

For

the

six

months

under

review,

the

Fund

posted

cumulative

total

returns

of

+3.55%

based

on

net

asset

value

and

+2.49%

based

on

market

price.

The

Fund’s

benchmark,

the

blended

1/3

ICE

BofA

US

High

Yield

Constrained

Index

+

1/3

Morningstar

®

LSTA

®

US

Leveraged

Loan

Index

SM

+

1/3

Bloomberg

MBS

Index,

posted

a

+3.87%

cumulative

total

return.

1

Individually,

the

ICE

BofA

US

High

Yield

Constrained

Index,

which

is

designed

to

mirror

below

investment-grade

corporate

debt

publicly

issued

in

the

U.S.

domestic

market,

posted

a

+4.55%

cumulative

total

return.

2

The

Morningstar

®

LSTA

®

US

Leveraged

Loan

Index

SM

,

which

is

designed

to

mirror

the

market

value-weighted

and

provides

comprehensive

coverage

of

the

U.S.

leveraged

loan

market,

posted

a

+2.81%

cumulative

total

return.

1

The

Bloomberg

MBS

Index,

which

tracks

the

performance

of

fixed-rate

agency

mortgage-backed

pass-through

securities

guaranteed

by

Ginnie

Mae

(GNMA),

Fannie

Mae

(FNMA)

and

Freddie

Mac

(FHLMC),

posted

a

4.22%

cumulative

total

return.

2

Over

the

period,

net

asset

value

decreased

from

$6.94

per

share

on

December

31,

2024,

to

$6.81

at

period-

end,

and

the

market

price

decreased

from

$6.63

to

$6.42

at

period-end.

You

can

find

the

Fund’s

long-term

performance

data

in

the

Performance

Summary

on

page

4

.

Effective

January

1,

2024,

the

Fund

has

implemented

a

managed

distribution

plan

whereby

the

Fund

will

distribute

a

level

distribution

amount

to

shareholders.

The

Fund

intends

to

make

monthly

distributions

to

shareholders

at

the

fixed

rate

of

$0.0615

per

share.

Management

will

generally

distribute

amounts

necessary

to

satisfy

the

Fund’s

plan

and

the

requirements

prescribed

by

excise

tax

rules

and

Subchapter

M

of

the

Internal

Revenue

Code.

The

plan

is

intended

to

provide

shareholders

with

a

consistent

distribution

each

month

and

is

intended

to

narrow

the

discount

between

the

market

price

and

the

NAV

of

the

Fund’s

common

shares,

but

there

is

no

assurance

that

the

plan

will

be

successful

in

doing

so.

The

Fund

sends

a

Form

Portfolio

Composition

6/30/25

%

of

Total

Investments

Corporate

Bonds

39.7%

Senior

Floating

Rate

Interests

28.9%

Marketplace

Loans

12.5%

Mortgage-Backed

Securities

10.3%

Asset-Backed

Securities

*

5.3%

Other

†

0.2%

Short-Term

Investments

3.1%

*

Includes

non-agency

residential

mortgage

backed

securities,

collateralized

loan

obligations

and

consumer

loan

certificates.

†

Categories

within

the

Other

category

are

listed

in

full

in

the

Fund’s

Schedule

of

Investments

(SOI),

which

can

be

found

later

in

this

report.

1.

Source:

Factset.

The

Blended

Benchmark

was

calculated

internally.

2.

Source:

Morningstar.

The

indexes

are

unmanaged

and

include

reinvestment

of

any

income

or

distributions.

They

do

not

reflect

any

fees,

expenses

or

sales

charges.

One

cannot

invest

directly

in

an

index,

and

an

index

is

not

representative

of

the

Fund’s

portfolio.

Important

data

provider

notices

and

terms

available

at

www.franklintempletondatasources.com.

The

dollar

value,

number

of

shares

or

principal

amount,

and

names

of

all

portfolio

holdings

are

listed

in

the

Fund’s

Schedule

of

Investments

(SOI).

The

SOI

begins

on

page

9

.

Franklin

Limited

Duration

Income

Trust

3

franklintempleton.com

Semiannual

Report

1099-DIV

to

shareholders

each

calendar

year

describing

how

to

report

the

Fund's

distributions

for

federal

income

tax

purposes.

Please

see

the

“Important

Information

to

Shareholders”

section

for

additional

information.

Performance

data

represent

past

performance,

which

does

not

guarantee

future

results.

Investment

return

and

principal

value

will

fluctuate,

and

you

may

have

a

gain

or

loss

when

you

sell

your

shares.

Current

performance

may

differ

from

figures

shown.

Thank

you

for

your

continued

participation

in

Franklin

Limited

Duration

Income

Trust.

We

look

forward

to

serving

your

future

investment

needs.

Sincerely,

Glenn

I.

Voyles,

CFA

Justin

Ma,

CFA

Patrick

A.

Klein,

Ph.D.

Jonathan

G.

Belk,

CFA

Portfolio

Management

Team

CFA

®

is

a

trademark

owned

by

CFA

Institute.

Performance

Summary

as

of

June

30,

2025

Franklin

Limited

Duration

Income

Trust

4

franklintempleton.com

Semiannual

Report

Total

return

reflects

reinvestment

of

the

Fund’s

dividends

and

capital

gain

distributions,

if

any,

and

any

unrealized

gains

or

losses.

Total

returns

do

not

reflect

any

sales

charges

paid

at

inception

or

brokerage

commissions

paid

on

secondary

market

purchases.

The

performance

tables

do

not

reflect

any

taxes

that

a

shareholder

would

pay

on

Fund

dividends,

capital

gain

distributions,

if

any,

or

any

realized

gains

on

the

sale

of

Fund

shares.

Your

dividend

income

will

vary

depending

on

dividends

or

interest

paid

by

securities

in

the

Fund’s

portfolio,

adjusted

for

operating

expenses.

Capital

gain

distributions

are

net

profits

realized

from

the

sale

of

portfolio

securities.

Performance

as

of

6/30/25

1,2

Performance

data

represent

past

performance,

which

does

not

guarantee

future

results.

Investment

return

and

principal

value

will

fluctuate,

and

you

may

have

a

gain

or

loss

when

you

sell

your

shares.

Current

performance

may

differ

from

figures

shown.

Share

Prices

Cumulative

Total

Return

3

Average

Annual

Total

Return

3

Based

on

NAV

4

Based

on

market

price

5

Based

on

NAV

4

Based

on

market

price

5

6-Month

3.55%

2.49%

3.55%

2.49%

1-Year

7.10%

13.31%

7.10%

13.31%

5-Year

25.74%

31.51%

4.69%

5.63%

10-Year

29.71%

54.48%

2.64%

4.45%

Symbol:

FTF

6/30/25

12/31/24

Change

Net

Asset

Value

(NAV)

$6.81

$6.94

-$0.13

Market

Price

(NYSE)

$6.42

$6.63

-$0.21

See

page

5

for

Performance

Summary

footnotes.

Franklin

Limited

Duration

Income

Trust

Performance

Summary

5

franklintempleton.com

Semiannual

Report

Events

such

as

the

spread

of

deadly

diseases,

disasters,

and

financial,

political

or

social

disruptions

may

heighten

risks

and

adversely

affect

performance.

The

Fund

is

actively

managed

but

there

is

no

guarantee

that

the

manager's

investment

decisions

will

produce

the

desired

results.

All

investments

involve

risks,

including

possible

loss

of

principal.

Fixed

income

securities

involve

interest

rate,

credit,

inflation

and

reinvestment

risks,

and

possible

loss

of

principal.

As

interest

rates

rise,

the

value

of

fixed

income

securities

falls.

Asset-backed,

mortgage-backed

or

mortgage-related

securities

are

subject

to

prepay-

ment

and

extension

risks.

Low-rated,

high-yield

bonds

are

subject

to

greater

price

volatility,

illiquidity

and

possibility

of

default.

The

manager

may

consider

environmental,

social

and

governance

(ESG)

criteria

in

the

research

or

investment

process;

however,

ESG

considerations

may

not

be

a

determinative

factor

in

security

selection.

In

addition,

the

manager

may

not

assess

every

investment

for

ESG

criteria,

and

not

every

ESG

factor

may

be

identified

or

evaluated.

1.

Figures

are

for

common

shares.

As

of

6/30/25,

the

Fund

had

leverage

in

the

amount

of

31.75%

of

the

Fund’s

total

portfolio.

The

Fund

employs

leverage

through

participa-

tion

in

a

Credit

Facility,

entering

into

reverse

repurchase

agreements,

and

Mortgage

Dollar

Rolls.

The

use

of

financial

leverage

creates

an

opportunity

for

increased

income

but,

at

the

same

time,

creates

special

risks

(including

the

likelihood

of

greater

volatility

of

net

asset

value

and

market

price

of

common

shares).

The

cost

of

leverage

rises

and

falls

with

changes

in

short-term

interest

rates.

Such

increases/decreases

in

the

cost

of

the

Fund’s

leverage

may

be

offset

by

increased/decreased

income

from

the

Fund’s

floating

rate

investments.

2.

Gross

expenses

are

the

Fund’s

total

annual

operating

expenses

as

of

the

Fund's

annual

report

available

at

the

time

of

publication.

Actual

expenses

may

be

higher

and

may

impact

portfolio

returns.

Net

expenses

reflect

voluntary

fee

waivers,

expense

caps

and/or

reimbursements.

Voluntary

waivers

may

be

modified

or

discontinued

at

any

time

without

notice.

3.

Total

return

calculations

represent

the

cumulative

and

average

annual

changes

in

the

value

of

an

investment

over

the

periods

indicated.

Return

for

less

than

one

year,

if

any,

has

not

been

annualized.

4.

Assumes

reinvestment

of

distributions

based

on

net

asset

value.

5.

Assumes

reinvestment

of

distributions

based

on

the

dividend

reinvestment

and

cash

purchase

plan.

Important

data

provider

notices

and

terms

available

at

www.franklintempletondatasources.com.

Distributions

Per

Share

(1/1/25–6/30/25)

Net

Investment

Income

$0.3690

Franklin

Limited

Duration

Income

Trust

Financial

Highlights

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

6

a

Six

Months

Ended

June

30,

2025

(unaudited)

Year

Ended

December

31,

2024

2023

2022

2021

2020

Per

share

operating

performance

(for

a

share

outstanding

throughout

the

period)

Net

asset

value,

beginning

of

period

.....

$6.94

$7.18

$7.06

$8.97

$9.43

$10.00

Income

from

investment

operations:

Net

investment

income

a

.............

0.28

0.64

0.65

0.62

0.52

0.51

Net

realized

and

unrealized

gains

(losses)

(0.04)

(0.14)

0.18

(1.46)

(0.05)

(0.15)

Total

from

investment

operations

........

0.24

0.50

0.83

(0.84)

0.47

0.36

Less

distributions

to

common

shareholders

from:

Net

investment

income

..............

(0.37)

(0.51)

(0.41)

(0.57)

(0.55)

(0.55)

Tax

return

of

capital

................

—

(0.23)

(0.30)

(0.21)

(0.38)

(0.38)

Total

distributions

...................

(0.37)

(0.74)

(0.71)

(0.78)

(0.93)

(0.93)

Dilution

effect

of

rights

offering

.........

—

—

—

(0.29)

b

—

—

Net

asset

value,

end

of

period

..........

$6.81

$6.94

$7.18

$7.06

$8.97

$9.43

Market

value,

end

of

period

c

...........

$6.42

$6.63

$6.22

$6.21

$9.09

$9.42

Total

return

(based

on

net

asset

value

per

share)

d

...........................

3.55%

7.24%

12.36%

(12.75)%

5.16%

4.26%

Total

return

(based

on

market

value

per

share)

d

...........................

2.49%

19.46%

12.17%

(23.52)%

6.77%

9.43%

Ratios

to

average

net

assets

e

Expenses

before

waiver

and

payments

by

affiliates

..........................

3.69%

3.94%

4.07%

2.69%

1.76%

1.86%

Expenses

net

of

waiver

and

payments

by

affiliates

..........................

3.67%

3.92%

4.06%

f

2.68%

f

1.75%

f

1.85%

f

Net

investment

income

...............

8.27%

9.00%

9.16%

8.16%

5.58%

5.51%

Supplemental

data

Net

assets,

end

of

period

(000’s)

........

$275,343

$280,401

$290,198

$285,319

$270,437

$284,199

Portfolio

turnover

rate

................

52.32%

109.84%

104.86%

95.50%

107.66%

106.46%

Portfolio

turnover

rate

excluding

mortgage

dollar

rolls

g

........................

23.57%

52.23%

71.14%

52.93%

51.04%

60.46%

Total

credit

facility

and

other

financial

leverage

outstanding

at

end

of

period

(000’s)

...........................

$103,886

$107,863

$109,652

$117,090

$116,359

$111,505

Asset

coverage

per

$1,000

of

debt

......

$3,650

$3,600

$3,647

$3,437

$3,324

$3,549

Franklin

Limited

Duration

Income

Trust

Financial

Highlights

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

7

a

Year

Ended

December

31,

2017

#

Year

Ended

March

31,

2019

2018

2017

2016

2015

Per

common

share

operating

performance

(for

a

common

share

outstanding

throughout

the

year)

Net

asset

value,

beginning

of

year

.......

$10.11

$12.32

$12.91

$12.38

$13.87

$14.36

Income

from

investment

operations:

Net

investment

income

a

.............

0.53

0.57

0.48

0.62

0.72

0.73

Net

realized

and

unrealized

gains

(losses)

0.39

(0.79)

(0.03)

0.85

(1.41)

(0.33)

Dividends

to

preferred

shareholders

from

net

investment

income

..............

—

(0.06)

(0.08)

(0.07)

(0.06)

(0.06)

Total

from

investment

operations

........

0.92

(0.28)

0.37

1.40

(0.75)

0.34

Less

distributions

to

common

shareholders

from:

Net

investment

income

..............

(0.58)

(0.49)

(0.43)

(0.57)

(0.74)

(0.83)

Tax

return

of

capital

................

(0.45)

(0.68)

(0.53)

(0.36)

—

—

Total

distributions

...................

(1.03)

(1.17)

(0.96)

(0.93)

(0.74)

(0.83)

Repurchase

of

shares

................

—

—

—

0.06

—

—

Dilution

effect

of

rights

offering

.........

—

(0.76)

h

—

—

—

—

Net

asset

value,

end

of

year

...........

$10.00

$10.11

$12.32

$12.91

$12.38

$13.87

Market

value,

end

of

year

c

.............

$9.59

$9.02

$11.83

$11.97

$11.34

$12.17

Total

return

(based

on

net

asset

value

per

share)

d

...........................

9.33%

(9.07)%

4.71%

12.02%

(5.44)%

2.41%

Total

return

(based

on

market

value

per

share)

d

...........................

18.34%

(14.86)%

7.08%

14.07%

(0.44)%

(0.35)%

Ratios

to

average

net

assets

applicable

to

common

shares

e,i

Expenses

before

waiver

and

payments

by

affiliates

..........................

2.16%

1.73%

1.25%

1.35%

1.16%

1.14%

Expenses

net

of

waiver

and

payments

by

affiliates

f

..........................

2.15%

1.71%

1.23%

1.32%

1.16%

j

1.14%

j

Net

investment

income

...............

5.15%

4.97%

5.04%

4.83%

5.52%

5.14%

Supplemental

data

Net

assets

applicable

to

common

shares,

end

of

year

(000’s)

..................

$301,452

$304,804

$278,489

$291,875

$332,132

$372,080

Portfolio

turnover

rate

................

113.49%

198.44%

168.28%

265.00%

270.16%

289.67%

Portfolio

turnover

rate

excluding

mortgage

dollar

rolls

g

........................

57.50%

63.84%

46.49%

93.00%

81.78%

92.15%

Total

credit

facility

and

other

financial

leverage

outstanding

at

end

of

year

(000’s)

$107,117

$90,000

k

$—

$—

$—

$—

Asset

coverage

per

preferred

share

......

$—

$—

l

$72,311

$74,809

$75,991

$76,665

Liquidation

preference

per

preferred

share

$—

$—

l

$25,000

$25,000

$25,000

$25,000

Asset

coverage

per

$1,000

of

debt

......

$3,814

$4,387

k

$—

$—

$—

$—

Franklin

Limited

Duration

Income

Trust

Financial

Highlights

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

8

#

For

the

period

April

1,

2017

to

December

31,

2017.

a

Based

on

average

daily

shares

outstanding.

b

Represents

the

impact

of

Fund’s

rights

offering

of

10,250,000

common

shares

in

February

2022

as

a

subscription

price

per

share

based

on

a

formula.

c

Based

on

the

last

sale

on

the

NYSE

American.

d

The

Market

Value

Total

Return

is

calculated

assuming

a

purchase

of

common

shares

on

the

opening

of

the

first

business

day

and

a

sale

on

the

closing

of

the

last

business

day

of

each

period.

Dividends

and

distributions

are

assumed

for

the

purposes

of

this

calculation

to

be

reinvested

at

prices

obtained

under

the

Fund's

Dividend

Reinvestment

and

Cash

Purchase

Plan.

Net

Asset

Value

Total

Return

is

calculated

on

the

same

basis,

except

that

the

Fund's

net

asset

value

is

used

on

the

purchase,

sale

and

dividend

reinvestment

dates

instead

of

market

value.

Total

return

does

not

reflect

brokerage

commissions

or

sales

charges

in

connection

with

the

purchase

or

sale

of

Fund

shares.

Total

return

is

not

annualized

for

periods

less

than

one

year.

e

Ratios

are

annualized

for

periods

less

than

one

year.

f

Benefit

of

expense

reduction

rounds

to

less

than

0.01%.

g

See

Note

1(d)

regarding

mortgage

dollar

rolls.

h

Represents

the

impact

of

Fund’s

rights

offering

of

7,534,709

common

shares

in

October

2018

as

a

subscription

price

per

share

based

on

a

formula.

i

Based

on

income

and

expenses

applicable

to

both

common

and

preferred

shares.

j

Benefit

of

waiver

and

payments

by

affiliates

rounds

to

less

than

0.01%.

k

Effective

August

15,

2018,

the

Fund

began

participating

in

a

credit

facility.

l

Effective

August

15,

2018,

the

Fund's

preferred

shares

were

liquidated.

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited),

June

30,

2025

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

9

a

a

Country

Shares

a

Value

a

a

a

a

a

a

Common

Stocks

0.1%

Hotels,

Restaurants

&

Leisure

0.0%

†

a

24

Hour

Fitness

Worldwide,

Inc.

........................

United

States

159,925

$

5,917

Metals

&

Mining

0.0%

†

a

Petra

Diamonds

Ltd.

.................................

South

Africa

331,401

67,067

Oil,

Gas

&

Consumable

Fuels

0.0%

†

a

Amplify

Energy

Corp.

................................

United

States

281

899

Birch

Permian

Holdings,

Inc.

...........................

United

States

20,307

106,774

California

Resources

Corp.

............................

United

States

72

3,289

110,962

Pharmaceuticals

0.1%

a

Endo,

Inc.

.........................................

United

States

11,685

245,233

Software

0.0%

†

a,b

DSG

Topco,

Inc.

....................................

United

States

1,755

26,325

Specialty

Retail

0.0%

a,b

Party

City

Holdco,

Inc.

................................

United

States

10

—

Total

Common

Stocks

(Cost

$

2,365,902

)

.....................................

455,504

Principal

Amount

*

Corporate

Bonds

57.2%

Aerospace

&

Defense

1.3%

c

ATI,

Inc.

,

Senior

Note

,

7.25

%

,

8/15/30

....................

United

States

700,000

734,120

d

Axon

Enterprise,

Inc.

,

Senior

Note

,

144A,

6.125

%

,

3/15/30

...................

United

States

300,000

309,258

Senior

Note

,

144A,

6.25

%

,

3/15/33

....................

United

States

250,000

258,040

d

Bombardier,

Inc.

,

Senior

Note

,

144A,

7

%

,

6/01/32

......................

Canada

675,000

703,779

Senior

Note

,

144A,

6.75

%

,

6/15/33

....................

Canada

500,000

518,725

d

Efesto

Bidco

SpA

Efesto

US

LLC

,

XR

,

Senior

Secured

Note

,

144A,

7.5

%

,

2/15/32

...............................

Italy

1,050,000

1,064,056

3,587,978

Automobile

Components

1.1%

d

Adient

Global

Holdings

Ltd.

,

c

Senior

Note

,

144A,

8.25

%

,

4/15/31

....................

United

States

600,000

631,015

Senior

Note

,

144A,

7.5

%

,

2/15/33

.....................

United

States

150,000

153,524

Senior

Secured

Note

,

144A,

7

%

,

4/15/28

................

United

States

150,000

154,718

c

,d

,e

Dornoch

Debt

Merger

Sub,

Inc.

,

Senior

Note

,

144A,

6.625

%

,

10/15/29

........................................

United

States

1,750,000

1,357,363

d

,f

IHO

Verwaltungs

GmbH

,

Senior

Secured

Note

,

144A,

PIK,

7.75

%

,

11/15/30

.........

Germany

400,000

410,829

Senior

Secured

Note

,

144A,

PIK,

8

%

,

11/15/32

...........

Germany

400,000

409,422

3,116,871

Automobiles

0.2%

d

Jaguar

Land

Rover

Automotive

plc

,

Senior

Note

,

144A,

5.5

%

,

7/15/29

.........................................

United

Kingdom

700,000

697,346

Biotechnology

0.5%

d

Emergent

BioSolutions,

Inc.

,

Senior

Note

,

144A,

3.875

%

,

8/15/28

United

States

900,000

720,751

d

Grifols

SA

,

Senior

Note

,

144A,

4.75

%

,

10/15/28

............

Spain

600,000

577,171

1,297,922

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

franklintempleton.com

Semiannual

Report

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accompanying

notes

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integral

part

of

these

financial

statements.

10

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Broadline

Retail

0.7%

e

Nordstrom,

Inc.

,

Senior

Bond

,

4

%

,

3/15/27

................

United

States

1,000,000

$

983,230

d

Wayfair

LLC

,

Senior

Secured

Note

,

144A,

7.25

%

,

10/31/29

............

United

States

200,000

200,589

c

Senior

Secured

Note

,

144A,

7.75

%

,

9/15/30

.............

United

States

800,000

806,965

1,990,784

Building

Products

2.1%

c

,d

Camelot

Return

Merger

Sub,

Inc.

,

Senior

Secured

Note

,

144A,

8.75

%

,

8/01/28

...................................

United

States

500,000

461,490

c

,d

Cornerstone

Building

Brands,

Inc.

,

Senior

Note

,

144A,

6.125

%

,

1/15/29

.........................................

United

States

1,000,000

726,031

c

,d

EMRLD

Borrower

LP

/

Emerald

Co-Issuer,

Inc.

,

Senior

Secured

Note

,

144A,

6.625

%

,

12/15/30

........................

United

States

1,100,000

1,125,764

d

JH

North

America

Holdings,

Inc.

,

Senior

Secured

Note

,

144A,

5.875

%

,

1/31/31

............

United

States

100,000

100,936

Senior

Secured

Note

,

144A,

6.125

%

,

7/31/32

............

United

States

125,000

127,153

d

Miter

Brands

Acquisition

Holdco,

Inc.

/

MIWD

Borrower

LLC

,

Senior

Secured

Note

,

144A,

6.75

%

,

4/01/32

..............

United

States

500,000

513,142

d

Quikrete

Holdings,

Inc.

,

Senior

Note

,

144A,

6.75

%

,

3/01/33

....................

United

States

150,000

154,868

Senior

Secured

Note

,

144A,

6.375

%

,

3/01/32

............

United

States

300,000

308,683

c

,d

Smyrna

Ready

Mix

Concrete

LLC

,

Senior

Secured

Note

,

144A,

8.875

%

,

11/15/31

..................................

United

States

1,200,000

1,259,072

c

,d

Standard

Building

Solutions,

Inc.

,

Senior

Note

,

144A,

6.5

%

,

8/15/32

.........................................

United

States

900,000

922,756

5,699,895

Capital

Markets

0.9%

d

Jane

Street

Group

/

JSG

Finance,

Inc.

,

c

Senior

Secured

Note

,

144A,

4.5

%

,

11/15/29

.............

United

States

500,000

485,444

Senior

Secured

Note

,

144A,

6.125

%

,

11/01/32

...........

United

States

500,000

505,086

Senior

Secured

Note

,

144A,

6.75

%

,

5/01/33

.............

United

States

600,000

617,298

d

,g

Stonex

Escrow

Issuer

LLC

,

Secured

Note

,

144A,

6.875

%

,

7/15/32

United

States

285,000

288,096

c

,d

StoneX

Group,

Inc.

,

Senior

Secured

Note

,

144A,

7.875

%

,

3/01/31

United

States

500,000

524,440

2,420,364

Chemicals

2.6%

b

,d

,f

,h

Anagram

Holdings

LLC

/

Anagram

International,

Inc.

,

Secured

Note

,

144A,

PIK,

10

%

,

8/15/26

........................

United

States

166,428

—

d

Avient

Corp.

,

Senior

Note

,

144A,

6.25

%

,

11/01/31

...........

United

States

300,000

302,992

d

Braskem

Idesa

SAPI

,

Senior

Secured

Bond

,

144A,

6.99

%

,

2/20/32

.........................................

Mexico

300,000

208,493

c

Celanese

US

Holdings

LLC

,

Senior

Note

,

6.58

%

,

7/15/29

.....

United

States

1,000,000

1,042,853

d

Cerdia

Finanz

GmbH

,

Senior

Secured

Note

,

144A,

9.375

%

,

10/03/31

........................................

Germany

500,000

519,485

d

Consolidated

Energy

Finance

SA

,

Senior

Note

,

144A,

5.625

%

,

10/15/28

........................................

Switzerland

600,000

517,361

c

,d

Element

Solutions,

Inc.

,

Senior

Note

,

144A,

3.875

%

,

9/01/28

...

United

States

200,000

194,098

FMC

Corp.

,

Sub.

Bond

,

8.45%

to

10/31/30,

FRN

thereafter

,

11/01/55

........................................

United

States

300,000

307,762

d

GPD

Cos.,

Inc.

,

Senior

Note

,

144A,

12.5

%

,

12/31/29

.........

United

States

989,752

954,121

c

,d

Illuminate

Buyer

LLC

/

Illuminate

Holdings

IV,

Inc.

,

Senior

Note

,

144A,

9

%

,

7/01/28

.................................

United

States

1,000,000

1,005,585

d

,f

Kobe

US

Midco

2,

Inc.

,

Senior

Note

,

144A,

PIK,

9.25

%

,

11/01/26

United

States

243,101

214,368

c

,d

Rain

Carbon,

Inc.

,

Senior

Secured

Note

,

144A,

12.25

%

,

9/01/29

United

States

1,200,000

1,288,441

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

11

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Chemicals

(continued)

d

,e

Vibrantz

Technologies,

Inc.

,

Senior

Note

,

144A,

9

%

,

2/15/30

...

United

States

1,000,000

$

674,538

7,230,097

Commercial

Services

&

Supplies

2.3%

c

,d

Allied

Universal

Holdco

LLC

,

Senior

Secured

Note

,

144A,

7.875

%

,

2/15/31

...................................

United

States

1,200,000

1,254,698

c

,d

Enviri

Corp.

,

Senior

Note

,

144A,

5.75

%

,

7/31/27

............

United

States

1,400,000

1,382,924

c

,d

Prime

Security

Services

Borrower

LLC

/

Prime

Finance,

Inc.

,

Senior

Secured

Note

,

144A,

3.375

%

,

8/31/27

.............

United

States

600,000

581,678

c

,d

RR

Donnelley

&

Sons

Co.

,

Senior

Secured

Note

,

144A,

9.5

%

,

8/01/29

.........................................

United

States

1,125,000

1,125,849

d

Veritiv

Operating

Co.

,

Senior

Secured

Note

,

144A,

10.5

%

,

11/30/30

........................................

United

States

225,000

243,843

c

,d

VM

Consolidated,

Inc.

,

Senior

Note

,

144A,

5.5

%

,

4/15/29

.....

United

States

800,000

785,961

d

Waste

Pro

USA,

Inc.

,

Senior

Note

,

144A,

7

%

,

2/01/33

........

United

States

200,000

208,124

c

,d

Wrangler

Holdco

Corp.

,

Senior

Note

,

144A,

6.625

%

,

4/01/32

...

Canada

700,000

729,296

6,312,373

Construction

&

Engineering

0.1%

d

Arcosa,

Inc.

,

c

Senior

Note

,

144A,

4.375

%

,

4/15/29

...................

United

States

300,000

290,439

Senior

Note

,

144A,

6.875

%

,

8/15/32

...................

United

States

100,000

103,844

394,283

Consumer

Finance

1.9%

d

Encore

Capital

Group,

Inc.

,

Senior

Secured

Note

,

144A,

9.25

%

,

4/01/29

.............

United

States

600,000

638,810

Senior

Secured

Note

,

144A,

8.5

%

,

5/15/30

..............

United

States

400,000

429,368

c

,d

FirstCash,

Inc.

,

Senior

Note

,

144A,

6.875

%

,

3/01/32

.........

United

States

1,100,000

1,139,647

d

Macquarie

Airfinance

Holdings

Ltd.

,

Senior

Note

,

144A,

6.5

%

,

3/26/31

.........................................

United

Kingdom

200,000

211,818

OneMain

Finance

Corp.

,

Senior

Bond

,

5.375

%

,

11/15/29

.......................

United

States

500,000

492,173

c

Senior

Note

,

9

%

,

1/15/29

...........................

United

States

1,000,000

1,049,298

c

,d

PROG

Holdings,

Inc.

,

Senior

Note

,

144A,

6

%

,

11/15/29

.......

United

States

1,400,000

1,345,606

5,306,720

Consumer

Staples

Distribution

&

Retail

0.3%

c

,d

US

Foods,

Inc.

,

Senior

Note

,

144A,

6.875

%

,

9/15/28

.........

United

States

700,000

724,656

Containers

&

Packaging

1.9%

c

,d

Ardagh

Metal

Packaging

Finance

USA

LLC

/

Ardagh

Metal

Packaging

Finance

plc

,

Senior

Note

,

144A,

4

%

,

9/01/29

.....

United

States

1,500,000

1,370,726

d

,e

Ardagh

Packaging

Finance

plc

/

Ardagh

Holdings

USA,

Inc.

,

Senior

Note

,

144A,

5.25

%

,

8/15/27

.....................

United

States

600,000

268,041

c

,d

Clydesdale

Acquisition

Holdings,

Inc.

,

Senior

Secured

Note

,

144A,

6.75

%

,

4/15/32

...............................

United

States

1,000,000

1,026,894

d

Intelligent

Packaging

Ltd.

Finco,

Inc.

/

Intelligent

Packaging

Ltd.

Co-Issuer

LLC

,

Senior

Secured

Note

,

144A,

6

%

,

9/15/28

....

Canada

325,000

325,000

c

,d

Mauser

Packaging

Solutions

Holding

Co.

,

Secured

Note

,

144A,

9.25

%

,

4/15/27

...................................

United

States

1,500,000

1,490,585

c

,d

Toucan

FinCo

Ltd.

/

Toucan

FinCo

Can,

Inc.

/

Toucan

FinCo

US

LLC

,

Senior

Secured

Note

,

144A,

9.5

%

,

5/15/30

...........

Canada

750,000

767,308

5,248,554

Distributors

0.4%

d

Gates

Corp.

,

Senior

Note

,

144A,

6.875

%

,

7/01/29

...........

United

States

400,000

415,847

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

12

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Distributors

(continued)

d

RB

Global

Holdings,

Inc.

,

Senior

Note

,

144A,

7.75

%

,

3/15/31

....................

Canada

425,000

$

447,316

Senior

Secured

Note

,

144A,

6.75

%

,

3/15/28

.............

Canada

125,000

128,378

991,541

Diversified

Consumer

Services

0.5%

e

Grand

Canyon

University

,

Secured

Note

,

5.125

%

,

10/01/28

....

United

States

1,300,000

1,264,073

Diversified

REITs

0.8%

c

,d

Global

Net

Lease,

Inc.

,

Senior

Note

,

144A,

4.5

%

,

9/30/28

.....

United

States

900,000

872,731

c

,d

Global

Net

Lease,

Inc.

/

Global

Net

Lease

Operating

Partnership

LP

,

Senior

Note

,

144A,

3.75

%

,

12/15/27

.................

United

States

800,000

765,816

c

,d

VICI

Properties

LP

/

VICI

Note

Co.,

Inc.

,

Senior

Note

,

144A,

3.75

%

,

2/15/27

...................................

United

States

700,000

689,527

2,328,074

Diversified

Telecommunication

Services

0.7%

c

,d

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp.

,

Senior

Note

,

144A,

6.375

%

,

9/01/29

..............................

United

States

1,000,000

1,020,756

c

,d

Iliad

Holding

SASU

,

Senior

Secured

Note

,

144A,

7

%

,

4/15/32

..

France

925,000

948,894

1,969,650

Electric

Utilities

0.9%

d

California

Buyer

Ltd.

/

Atlantica

Sustainable

Infrastructure

plc

,

Senior

Note

,

144A,

6.375

%

,

2/15/32

....................

United

Kingdom

500,000

501,260

c

,d

NRG

Energy,

Inc.

,

Senior

Note

,

144A,

5.75

%

,

7/15/29

........

United

States

800,000

805,028

d

Vistra

Operations

Co.

LLC

,

e

Senior

Note

,

144A,

4.375

%

,

5/01/29

...................

United

States

400,000

390,119

c

Senior

Note

,

144A,

7.75

%

,

10/15/31

...................

United

States

100,000

106,356

Senior

Note

,

144A,

6.875

%

,

4/15/32

...................

United

States

600,000

627,679

2,430,442

Electrical

Equipment

0.5%

c

,d

,e

Vertiv

Group

Corp.

,

Senior

Secured

Note

,

144A,

4.125

%

,

11/15/28

........................................

United

States

1,300,000

1,268,671

Electronic

Equipment,

Instruments

&

Components

0.5%

c

,d

TTM

Technologies,

Inc.

,

Senior

Note

,

144A,

4

%

,

3/01/29

......

United

States

1,000,000

956,352

d

Zebra

Technologies

Corp.

,

Senior

Note

,

144A,

6.5

%

,

6/01/32

..

United

States

300,000

308,686

1,265,038

Energy

Equipment

&

Services

1.7%

d

Aris

Water

Holdings

LLC

,

Senior

Note

,

144A,

7.25

%

,

4/01/30

..

United

States

600,000

619,535

d

Enerflex

Ltd.

,

Senior

Secured

Note

,

144A,

9

%

,

10/15/27

......

Canada

160,000

165,545

c

,d

Kodiak

Gas

Services

LLC

,

Senior

Note

,

144A,

7.25

%

,

2/15/29

..

United

States

700,000

724,536

d

Nabors

Industries,

Inc.

,

Senior

Note

,

144A,

8.875

%

,

8/15/31

...

United

States

1,300,000

966,677

c

Oceaneering

International,

Inc.

,

Senior

Note

,

6

%

,

2/01/28

.....

United

States

300,000

302,671

d

Transocean

Titan

Financing

Ltd.

,

Senior

Secured

Note

,

144A,

8.375

%

,

2/01/28

...................................

United

States

90,476

91,970

Transocean,

Inc.

,

Senior

Bond

,

6.8

%

,

3/15/38

..........................

United

States

600,000

422,428

d

Senior

Note

,

144A,

8.25

%

,

5/15/29

....................

United

States

100,000

92,533

c,d

Senior

Secured

Note

,

144A,

8.75

%

,

2/15/30

.............

United

States

640,000

658,662

c

,d

Weatherford

International

Ltd.

,

Senior

Note

,

144A,

8.625

%

,

4/30/30

.........................................

United

States

700,000

721,971

4,766,528

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

13

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Entertainment

0.6%

c

,d

Banijay

Entertainment

SAS

,

Senior

Secured

Note

,

144A,

8.125

%

,

5/01/29

.........................................

France

1,100,000

$

1,142,137

g

Warnermedia

Holdings,

Inc.

,

Senior

Note

,

4.054

%

,

3/15/29

....

United

States

520,000

484,619

1,626,756

Financial

Services

3.2%

d

Freedom

Mortgage

Holdings

LLC

,

c

Senior

Note

,

144A,

9.25

%

,

2/01/29

....................

United

States

300,000

311,827

Senior

Note

,

144A,

8.375

%

,

4/01/32

...................

United

States

650,000

657,522

d

GGAM

Finance

Ltd.

,

Senior

Note

,

144A,

8

%

,

2/15/27

......................

Ireland

200,000

206,349

c

Senior

Note

,

144A,

8

%

,

6/15/28

......................

Ireland

700,000

740,943

d

Jefferson

Capital

Holdings

LLC

,

Senior

Note

,

144A,

6

%

,

8/15/26

......................

United

States

500,000

499,130

Senior

Note

,

144A,

9.5

%

,

2/15/29

.....................

United

States

1,400,000

1,481,668

c

,d

Nationstar

Mortgage

Holdings,

Inc.

,

Senior

Bond

,

144A,

5.75

%

,

11/15/31

........................................

United

States

1,100,000

1,118,031

c

,d

PHH

Escrow

Issuer

LLC

/

PHH

Corp.

,

Senior

Note

,

144A,

9.875

%

,

11/01/29

..................................

United

States

1,800,000

1,797,102

d

PRA

Group,

Inc.

,

c

Senior

Note

,

144A,

8.375

%

,

2/01/28

...................

United

States

600,000

616,125

c

Senior

Note

,

144A,

5

%

,

10/01/29

.....................

United

States

300,000

276,770

Senior

Note

,

144A,

8.875

%

,

1/31/30

...................

United

States

400,000

412,740

d

Rocket

Cos.,

Inc.

,

Senior

Note

,

144A,

6.375

%

,

8/01/33

.......

United

States

400,000

409,780

c

,d

United

Wholesale

Mortgage

LLC

,

Senior

Note

,

144A,

5.5

%

,

11/15/25

........................................

United

States

400,000

400,211

8,928,198

Food

Products

0.2%

c

B&G

Foods,

Inc.

,

Senior

Note

,

5.25

%

,

9/15/27

.............

United

States

400,000

364,630

d

,f

Chobani

Holdco

II

LLC

,

Senior

Note

,

144A,

PIK,

8.75

%

,

10/01/29

United

States

104,195

109,338

d

Chobani

LLC

/

Chobani

Finance

Corp.,

Inc.

,

Senior

Note

,

144A,

7.625

%

,

7/01/29

...................................

United

States

200,000

208,662

682,630

Ground

Transportation

0.6%

d

,g

Beacon

Mobility

Corp.

,

Senior

Secured

Note

,

144A,

7.25

%

,

8/01/30

.........................................

United

States

260,000

265,674

c

,d

First

Student

Bidco,

Inc.

/

First

Transit

Parent,

Inc.

,

Senior

Secured

Note

,

144A,

4

%

,

7/31/29

.....................

United

States

900,000

846,647

d

Watco

Cos.

LLC

/

Watco

Finance

Corp.

,

Senior

Note

,

144A,

7.125

%

,

8/01/32

...................................

United

States

500,000

523,028

1,635,349

Health

Care

Equipment

&

Supplies

0.6%

c

,d

Bausch

+

Lomb

Corp.

,

Senior

Secured

Note

,

144A,

8.375

%

,

10/01/28

........................................

United

States

600,000

627,000

d

Insulet

Corp.

,

Senior

Note

,

144A,

6.5

%

,

4/01/33

............

United

States

200,000

208,658

c

,d

Medline

Borrower

LP

,

Senior

Note

,

144A,

5.25

%

,

10/01/29

....

United

States

500,000

496,467

c

,d

Neogen

Food

Safety

Corp.

,

Senior

Note

,

144A,

8.625

%

,

7/20/30

United

States

400,000

414,073

1,746,198

Health

Care

Providers

&

Services

2.2%

d

CHS/Community

Health

Systems,

Inc.

,

144A,

10.75

%

,

6/15/33

.............................

United

States

500,000

513,650

e

Secured

Note

,

144A,

6.125

%

,

4/01/30

..................

United

States

500,000

370,193

c

Senior

Secured

Note

,

144A,

5.625

%

,

3/15/27

............

United

States

400,000

394,242

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

14

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Health

Care

Providers

&

Services

(continued)

d

CHS/Community

Health

Systems,

Inc.,

(continued)

c

Senior

Secured

Note

,

144A,

10.875

%

,

1/15/32

...........

United

States

500,000

$

530,559

d

DaVita,

Inc.

,

c

Senior

Note

,

144A,

4.625

%

,

6/01/30

...................

United

States

1,200,000

1,150,556

Senior

Note

,

144A,

6.875

%

,

9/01/32

...................

United

States

200,000

207,361

c

,d

Kedrion

SpA

,

Senior

Secured

Note

,

144A,

6.5

%

,

9/01/29

......

Italy

1,500,000

1,440,584

d

MPH

Acquisition

Holdings

LLC

,

Senior

Secured

Note

,

144A,

5.75

%

,

12/31/30

............

United

States

90,027

74,236

f

Senior

Secured

Note

,

144A,

PIK,

11.5

%

,

12/31/30

.........

United

States

137,786

133,838

f

Senior

Secured

Note

,

144A,

PIK,

6.75

%

,

3/31/31

.........

United

States

772,185

576,647

c

Tenet

Healthcare

Corp.

,

Senior

Secured

Note

,

6.125

%

,

6/15/30

.

United

States

700,000

713,044

6,104,910

Health

Care

REITs

0.3%

d

MPT

Operating

Partnership

LP

/

MPT

Finance

Corp.

,

Senior

Secured

Note

,

144A,

8.5

%

,

2/15/32

....................

United

States

750,000

785,521

Health

Care

Technology

0.3%

d

IQVIA,

Inc.

,

Senior

Note

,

144A,

6.25

%

,

6/01/32

.............

United

States

925,000

950,408

Hotel

&

Resort

REITs

0.6%

d

Pebblebrook

Hotel

LP

/

PEB

Finance

Corp.

,

Senior

Note

,

144A,

6.375

%

,

10/15/29

..................................

United

States

200,000

201,212

d

RHP

Hotel

Properties

LP

/

RHP

Finance

Corp.

,

c

Senior

Note

,

144A,

7.25

%

,

7/15/28

....................

United

States

300,000

310,738

c

Senior

Note

,

144A,

6.5

%

,

4/01/32

.....................

United

States

700,000

720,385

Senior

Note

,

144A,

6.5

%

,

6/15/33

.....................

United

States

275,000

283,077

d

XHR

LP

,

Senior

Note

,

144A,

6.625

%

,

5/15/30

..............

United

States

200,000

204,023

1,719,435

Hotels,

Restaurants

&

Leisure

3.8%

b

,d

,h

24

Hour

Fitness

Worldwide,

Inc.

,

Senior

Note

,

144A,

8

%

,

6/01/22

United

States

1,500,000

—

d

Allwyn

Entertainment

Financing

UK

plc

,

Senior

Secured

Note

,

144A,

7.875

%

,

4/30/29

..............................

Czech

Republic

800,000

835,271

c

,d

Boyne

USA,

Inc.

,

Senior

Note

,

144A,

4.75

%

,

5/15/29

.........

United

States

300,000

291,290

c

,d

Caesars

Entertainment,

Inc.

,

Senior

Secured

Note

,

144A,

6.5

%

,

2/15/32

.........................................

United

States

600,000

616,045

c

,d

Carnival

Corp.

,

Senior

Note

,

144A,

5.75

%

,

3/01/27

..........

United

States

1,500,000

1,513,323

c

,d

Fertitta

Entertainment

LLC

/

Fertitta

Entertainment

Finance

Co.,

Inc.

,

Senior

Note

,

144A,

6.75

%

,

1/15/30

.................

United

States

1,300,000

1,200,688

c

,d

Great

Canadian

Gaming

Corp.

/

Raptor

LLC

,

Senior

Secured

Note

,

144A,

8.75

%

,

11/15/29

.........................

Canada

900,000

881,572

d

Mohegan

Tribal

Gaming

Authority

/

MS

Digital

Entertainment

Holdings

LLC

,

Senior

Secured

Note

,

144A,

8.25

%

,

4/15/30

..

United

States

650,000

671,413

d

NCL

Corp.

Ltd.

,

e

Senior

Note

,

144A,

5.875

%

,

3/15/26

...................

United

States

47,000

47,245

Senior

Note

,

144A,

6.75

%

,

2/01/32

....................

United

States

500,000

511,127

d

Royal

Caribbean

Cruises

Ltd.

,

Senior

Note

,

144A,

6.25

%

,

3/15/32

....................

United

States

300,000

308,551

Senior

Note

,

144A,

6

%

,

2/01/33

......................

United

States

400,000

407,961

d

Six

Flags

Entertainment

Corp.

/

Six

Flags

Theme

Parks,

Inc.

/

Canada's

Wonderland

Co.

,

Senior

Secured

Note

,

144A,

6.625

%

,

5/01/32

...................................

United

States

400,000

412,824

c

,d

Station

Casinos

LLC

,

Senior

Note

,

144A,

4.5

%

,

2/15/28

......

United

States

200,000

196,246

c

,d

Viking

Cruises

Ltd.

,

Senior

Note

,

144A,

5.875

%

,

9/15/27

...................

United

States

300,000

300,355

Senior

Note

,

144A,

7

%

,

2/15/29

......................

United

States

600,000

605,637

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

15

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Hotels,

Restaurants

&

Leisure

(continued)

c

,d

Wynn

Resorts

Finance

LLC

/

Wynn

Resorts

Capital

Corp.

,

Senior

Note

,

144A,

7.125

%

,

2/15/31

.........................

United

States

1,500,000

$

1,600,629

10,400,177

Household

Durables

1.5%

c

,d

Ashton

Woods

USA

LLC

/

Ashton

Woods

Finance

Co.

,

Senior

Note

,

144A,

6.625

%

,

1/15/28

...................

United

States

500,000

502,377

Senior

Note

,

144A,

4.625

%

,

4/01/30

...................

United

States

1,000,000

954,785

c

,d

Dream

Finders

Homes,

Inc.

,

Senior

Note

,

144A,

8.25

%

,

8/15/28

United

States

500,000

521,601

c

,d

LGI

Homes,

Inc.

,

Senior

Note

,

144A,

8.75

%

,

12/15/28

........

United

States

800,000

832,131

Newell

Brands,

Inc.

,

Senior

Note

,

6.375

%

,

5/15/30

........................

United

States

75,000

73,150

Senior

Note

,

6.625

%

,

5/15/32

........................

United

States

50,000

47,823

d

Senior

Note

,

144A,

8.5

%

,

6/01/28

.....................

United

States

300,000

315,813

c

,d

Weekley

Homes

LLC

/

Weekley

Finance

Corp.

,

Senior

Note

,

144A,

4.875

%

,

9/15/28

..............................

United

States

800,000

775,385

4,023,065

Household

Products

0.1%

d

Energizer

Holdings,

Inc.

,

Senior

Note

,

144A,

4.375

%

,

3/31/29

..

United

States

200,000

189,342

Independent

Power

and

Renewable

Electricity

Producers

1.2%

c

,d

Calpine

Corp.

,

Senior

Note

,

144A,

5.125

%

,

3/15/28

..........

United

States

1,500,000

1,499,257

c

,d

Clearway

Energy

Operating

LLC

,

Senior

Bond

,

144A,

3.75

%

,

1/15/32

....................

United

States

400,000

359,218

Senior

Note

,

144A,

4.75

%

,

3/15/28

....................

United

States

300,000

296,618

Senior

Note

,

144A,

3.75

%

,

2/15/31

....................

United

States

200,000

183,784

c

,d

Leeward

Renewable

Energy

Operations

LLC

,

Senior

Note

,

144A,

4.25

%

,

7/01/29

...................................

United

States

1,000,000

934,346

3,273,223

Insurance

1.2%

d

Acrisure

LLC

/

Acrisure

Finance,

Inc.

,

Senior

Note

,

144A,

8.5

%

,

6/15/29

.....................

United

States

400,000

417,424

Senior

Secured

Note

,

144A,

7.5

%

,

11/06/30

.............

United

States

400,000

413,474

c

,d

Alliant

Holdings

Intermediate

LLC

/

Alliant

Holdings

Co-Issuer

,

Senior

Note

,

144A,

6.75

%

,

10/15/27

...................

United

States

400,000

400,594

Senior

Secured

Note

,

144A,

7

%

,

1/15/31

................

United

States

500,000

517,582

Jones

Deslauriers

Insurance

Management,

Inc.

,

d

Senior

Note

,

144A,

10.5

%

,

12/15/30

...................

Canada

1,500,000

1,599,942

3,349,016

Interactive

Media

&

Services

0.1%

d

Snap,

Inc.

,

Senior

Note

,

144A,

6.875

%

,

3/01/33

............

United

States

350,000

359,363

IT

Services

1.0%

c

,d

Cablevision

Lightpath

LLC

,

Senior

Secured

Note

,

144A,

3.875

%

,

9/15/27

.........................................

United

States

700,000

675,110

d

Cogent

Communications

Group

LLC

/

Cogent

Finance,

Inc.

,

c

Senior

Note

,

144A,

7

%

,

6/15/27

......................

United

States

700,000

701,901

Senior

Secured

Note

,

144A,

6.5

%

,

7/01/32

..............

United

States

475,000

468,331

d

Fortress

Intermediate

3,

Inc.

,

Senior

Secured

Note

,

144A,

7.5

%

,

6/01/31

.........................................

United

States

600,000

629,320

d

Gartner,

Inc.

,

Senior

Note

,

144A,

4.5

%

,

7/01/28

.............

United

States

200,000

198,060

2,672,722

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

16

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Machinery

1.4%

c

,d

ATS

Corp.

,

Senior

Note

,

144A,

4.125

%

,

12/15/28

...........

Canada

1,300,000

$

1,244,031

c

,d

Calderys

Financing

LLC

,

Senior

Secured

Note

,

144A,

11.25

%

,

6/01/28

.........................................

France

800,000

849,108

c

,d

ESAB

Corp.

,

Senior

Note

,

144A,

6.25

%

,

4/15/29

............

United

States

600,000

615,066

c

Hillenbrand,

Inc.

,

Senior

Note

,

6.25

%

,

2/15/29

..............

United

States

600,000

612,189

d

Manitowoc

Co.,

Inc.

(The)

,

Secured

Note

,

144A,

9.25

%

,

10/01/31

United

States

300,000

316,108

d

Terex

Corp.

,

Senior

Note

,

144A,

6.25

%

,

10/15/32

...........

United

States

300,000

300,809

3,937,311

Media

2.6%

c

,d

Clear

Channel

Outdoor

Holdings,

Inc.

,

Senior

Note

,

144A,

7.75

%

,

4/15/28

....................

United

States

300,000

283,732

Senior

Note

,

144A,

7.5

%

,

6/01/29

.....................

United

States

900,000

833,146

Senior

Secured

Note

,

144A,

9

%

,

9/15/28

................

United

States

500,000

524,254

c

,d

CSC

Holdings

LLC

,

Senior

Note

,

144A,

11.25

%

,

5/15/28

...................

United

States

700,000

697,905

Senior

Note

,

144A,

11.75

%

,

1/31/29

...................

United

States

500,000

475,890

c

,d

Directv

Financing

LLC

/

Directv

Financing

Co-Obligor,

Inc.

,

Senior

Secured

Note

,

144A,

5.875

%

,

8/15/27

..................

United

States

200,000

199,472

d

Gray

Media,

Inc.

,

Senior

Bond

,

144A,

5.375

%

,

11/15/31

......

United

States

300,000

225,209

c

,d

McGraw-Hill

Education,

Inc.

,

Senior

Secured

Note

,

144A,

7.375

%

,

9/01/31

...................................

United

States

800,000

835,121

d

,e

News

Corp.

,

Senior

Note

,

144A,

3.875

%

,

5/15/29

...........

United

States

1,200,000

1,149,025

c

,d

Outfront

Media

Capital

LLC

/

Outfront

Media

Capital

Corp.

,

Senior

Bond

,

144A,

4.625

%

,

3/15/30

.........................

United

States

100,000

95,582

c

,d

Scripps

Escrow,

Inc.

,

Senior

Note

,

144A,

5.875

%

,

7/15/27

.....

United

States

500,000

445,419

c

,d

Sinclair

Television

Group,

Inc.

,

Senior

Secured

Note

,

144A,

8.125

%

,

2/15/33

...................................

United

States

800,000

808,869

c

,d

Sirius

XM

Radio

LLC

,

Senior

Note

,

144A,

4

%

,

7/15/28

........

United

States

600,000

576,683

7,150,307

Metals

&

Mining

0.8%

d

Cleveland-Cliffs,

Inc.

,

Senior

Note

,

144A,

7

%

,

3/15/32

........

United

States

550,000

519,151

d

Constellium

SE

,

c

Senior

Note

,

144A,

3.75

%

,

4/15/29

....................

United

States

600,000

564,236

Senior

Note

,

144A,

6.375

%

,

8/15/32

...................

United

States

400,000

406,924

d

Novelis

Corp.

,

Senior

Note

,

144A,

6.875

%

,

1/30/30

..........

United

States

300,000

310,367

d

Petra

Diamonds

US

Treasury

plc

,

Senior

Secured

Note

,

144A,

9.75

%

,

3/08/26

...................................

South

Africa

781,938

421,790

2,222,468

Mortgage

Real

Estate

Investment

Trusts

(REITs)

0.5%

c

,d

Apollo

Commercial

Real

Estate

Finance,

Inc.

,

Senior

Secured

Note

,

144A,

4.625

%

,

6/15/29

.........................

United

States

1,500,000

1,427,001

Oil,

Gas

&

Consumable

Fuels

4.8%

c

,d

Antero

Resources

Corp.

,

Senior

Note

,

144A,

7.625

%

,

2/01/29

..

United

States

166,000

170,540

c

,d

Calumet

Specialty

Products

Partners

LP

/

Calumet

Finance

Corp.

,

Senior

Note

,

144A,

8.125

%

,

1/15/27

...................

United

States

900,000

895,309

Senior

Secured

Note

,

144A,

9.25

%

,

7/15/29

.............

United

States

800,000

824,000

c

,d

CITGO

Petroleum

Corp.

,

Senior

Secured

Note

,

144A,

8.375

%

,

1/15/29

.........................................

United

States

500,000

521,325

c

,d

Civitas

Resources,

Inc.

,

Senior

Note

,

144A,

8.75

%

,

7/01/31

....

United

States

100,000

101,236

d

Coronado

Finance

Pty.

Ltd.

,

Senior

Secured

Note

,

144A,

9.25

%

,

10/01/29

........................................

Australia

550,000

410,564

d

Crescent

Energy

Finance

LLC

,

Senior

Note

,

144A,

7.375

%

,

1/15/33

...................

United

States

200,000

191,357

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

17

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Oil,

Gas

&

Consumable

Fuels

(continued)

d

Crescent

Energy

Finance

LLC,

(continued)

g

Senior

Note

,

144A,

8.375

%

,

1/15/34

...................

United

States

620,000

$

620,812

c

,d

Expand

Energy

Corp.

,

Senior

Note

,

144A,

6.75

%

,

4/15/29

.....

United

States

500,000

506,298

d

Hess

Midstream

Operations

LP

,

Senior

Note

,

144A,

6.5

%

,

6/01/29

United

States

500,000

514,540

d

Hilcorp

Energy

I

LP

/

Hilcorp

Finance

Co.

,

Senior

Note

,

144A,

5.75

%

,

2/01/29

...................................

United

States

500,000

493,806

c

,d

Kinetik

Holdings

LP

,

Senior

Note

,

144A,

5.875

%

,

6/15/30

......

United

States

600,000

605,466

d

Kraken

Oil

&

Gas

Partners

LLC

,

Senior

Note

,

144A,

7.625

%

,

8/15/29

.........................................

United

States

275,000

270,399

c

,d

Martin

Midstream

Partners

LP

/

Martin

Midstream

Finance

Corp.

,

Secured

Note

,

144A,

11.5

%

,

2/15/28

...................

United

States

1,700,000

1,793,820

b

,d

,f

,h

Murray

Energy

Corp.

,

Secured

Note

,

144A,

PIK,

12

%

,

4/15/24

.

United

States

606,187

—

c

,d

Northriver

Midstream

Finance

LP

,

Senior

Secured

Note

,

144A,

6.75

%

,

7/15/32

...................................

Canada

1,100,000

1,140,010

d

Sunoco

LP

,

Senior

Note

,

144A,

7.25

%

,

5/01/32

.............

United

States

600,000

630,406

c

,d

Venture

Global

Calcasieu

Pass

LLC

,

Senior

Secured

Bond

,

144A,

4.125

%

,

8/15/31

............

United

States

300,000

277,895

Senior

Secured

Note

,

144A,

3.875

%

,

8/15/29

............

United

States

300,000

283,051

c

,d

Venture

Global

LNG,

Inc.

,

Senior

Secured

Note

,

144A,

8.125

%

,

6/01/28

............

United

States

600,000

620,501

Senior

Secured

Note

,

144A,

9.5

%

,

2/01/29

..............

United

States

500,000

545,002

Senior

Secured

Note

,

144A,

8.375

%

,

6/01/31

............

United

States

500,000

519,675

d

Venture

Global

Plaquemines

LNG

LLC

,

Senior

Secured

Bond

,

144A,

7.75

%

,

5/01/35

.............

United

States

200,000

216,658

Senior

Secured

Bond

,

144A,

6.75

%

,

1/15/36

.............

United

States

485,000

485,000

Senior

Secured

Note

,

144A,

7.5

%

,

5/01/33

..............

United

States

200,000

214,304

Senior

Secured

Note

,

144A,

6.5

%

,

1/15/34

..............

United

States

290,000

290,000

13,141,974

Paper

&

Forest

Products

0.1%

d

Magnera

Corp.

,

Senior

Note

,

144A,

4.75

%

,

11/15/29

.........

United

States

400,000

353,856

Passenger

Airlines

0.4%

d

American

Airlines,

Inc.

/

AAdvantage

Loyalty

IP

Ltd.

,

Senior

Secured

Note

,

144A,

5.5

%

,

4/20/26

....................

United

States

333,333

332,777

d

OneSky

Flight

LLC

,

Senior

Note

,

144A,

8.875

%

,

12/15/29

.....

United

States

250,000

260,526

c

,d

United

Airlines,

Inc.

,

Senior

Secured

Note

,

144A,

4.375

%

,

4/15/26

............

United

States

100,000

99,401

Senior

Secured

Note

,

144A,

4.625

%

,

4/15/29

............

United

States

300,000

291,407

984,111

Personal

Care

Products

0.6%

c

,d

Coty,

Inc.

/

HFC

Prestige

Products,

Inc.

/

HFC

Prestige

International

US

LLC

,

Senior

Secured

Note

,

144A,

6.625

%

,

7/15/30

.........................................

United

States

600,000

614,250

c

,d

Opal

Bidco

SAS

,

Senior

Secured

Note

,

144A,

6.5

%

,

3/31/32

...

France

950,000

970,200

1,584,450

Pharmaceuticals

0.4%

d

Endo

Finance

Holdings,

Inc.

,

Senior

Secured

Note

,

144A,

8.5

%

,

4/15/31

.........................................

United

States

200,000

211,961

c

Teva

Pharmaceutical

Finance

Netherlands

III

BV

,

Senior

Note

,

4.75

%

,

5/09/27

...................................

Israel

900,000

899,550

1,111,511

Professional

Services

0.2%

d

CACI

International,

Inc.

,

Senior

Note

,

144A,

6.375

%

,

6/15/33

..

United

States

425,000

439,109

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

18

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Real

Estate

Management

&

Development

0.7%

c

,d

Five

Point

Operating

Co.

LP

/

Five

Point

Capital

Corp.

,

Senior

Note

,

144A,

10.5

%

,

1/15/28

..........................

United

States

839,586

$

854,691

c

,d

Forestar

Group,

Inc.

,

Senior

Note

,

144A,

6.5

%

,

3/15/33

.......

United

States

1,200,000

1,209,936

2,064,627

Software

1.0%

c

,d

Camelot

Finance

SA

,

Senior

Secured

Note

,

144A,

4.5

%

,

11/01/26

United

States

144,000

141,880

d

Gen

Digital,

Inc.

,

Senior

Note

,

144A,

6.25

%

,

4/01/33

.........

United

States

250,000

257,336

d

,e

McAfee

Corp.

,

Senior

Note

,

144A,

7.375

%

,

2/15/30

..........

United

States

1,300,000

1,228,973

c

,d

Rocket

Software,

Inc.

,

Senior

Note

,

144A,

6.5

%

,

2/15/29

......

United

States

1,300,000

1,262,653

2,890,842

Specialized

REITs

0.4%

c

,d

Iron

Mountain,

Inc.

,

Senior

Note

,

144A,

7

%

,

2/15/29

.........

United

States

1,000,000

1,035,866

Specialty

Retail

0.5%

c

,d

Evergreen

Acqco

1

LP

/

TVI,

Inc.

,

Senior

Secured

Note

,

144A,

9.75

%

,

4/26/28

...................................

United

States

582,000

609,301

c

,d

Gap,

Inc.

(The)

,

Senior

Note

,

144A,

3.625

%

,

10/01/29

........

United

States

700,000

651,000

1,260,301

Technology

Hardware,

Storage

&

Peripherals

0.2%

d

Seagate

Data

Storage

Technology

Pte.

Ltd.

,

Senior

Note

,

144A,

5.875

%

,

7/15/30

...................................

United

States

550,000

559,586

Textiles,

Apparel

&

Luxury

Goods

0.7%

d

,f

,g

Beach

Acquisition

Bidco

LLC

,

Senior

Note

,

144A,

PIK,

10

%

,

7/15/33

.........................................

United

States

720,000

748,091

c

,d

Hanesbrands,

Inc.

,

Senior

Note

,

144A,

9

%

,

2/15/31

..........

United

States

700,000

741,807

d

Under

Armour,

Inc.

,

Senior

Note

,

144A,

7.25

%

,

7/15/30

.......

United

States

360,000

365,474

1,855,372

Trading

Companies

&

Distributors

1.5%

d

EquipmentShare.com,

Inc.

,

c

Secured

Note

,

144A,

9

%

,

5/15/28

.....................

United

States

800,000

846,144

Secured

Note

,

144A,

8.625

%

,

5/15/32

..................

United

States

600,000

638,364

d

Herc

Holdings,

Inc.

,

c

Senior

Note

,

144A,

6.625

%

,

6/15/29

...................

United

States

900,000

924,173

Senior

Note

,

144A,

7

%

,

6/15/30

......................

United

States

150,000

156,748

Senior

Note

,

144A,

7.25

%

,

6/15/33

....................

United

States

100,000

104,845

c

,d

QXO

Building

Products,

Inc.

,

Senior

Secured

Note

,

144A,

6.75

%

,

4/30/32

.........................................

United

States

700,000

722,891

d

WESCO

Distribution,

Inc.

,

Senior

Note

,

144A,

6.375

%

,

3/15/33

.

United

States

625,000

646,432

4,039,597

Wireless

Telecommunication

Services

1.0%

d

Altice

France

Holding

SA

,

Senior

Secured

Note

,

144A,

10.5

%

,

5/15/27

.............

Luxembourg

1,700,000

592,085

Senior

Secured

Note

,

144A,

6

%

,

2/15/28

................

Luxembourg

300,000

106,515

c

,d

Connect

Finco

SARL

/

Connect

US

Finco

LLC

,

Senior

Secured

Note

,

144A,

9

%

,

9/15/29

............................

United

Kingdom

800,000

805,102

b

,i

Digicel

Group

Holdings

Ltd.

,

29

.05

%

,

11/17/33

.............

Bermuda

35,583

1,126

c

,d

Zegona

Finance

plc

,

Senior

Secured

Note

,

144A,

8.625

%

,

7/15/29

.........................................

United

Kingdom

1,100,000

1,176,444

2,681,272

Total

Corporate

Bonds

(Cost

$

161,353,603

)

...................................

157,497,734

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

19

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

j

Senior

Floating

Rate

Interests

41.8%

k

Aerospace

&

Defense

0.4%

Cobham

Ultra

SeniorCo

SARL,

First

Lien,

USD

CME

Term

Loan,

B

,

8.177

%

,

(

6-month

SOFR

+

3.5

%

),

8/03/29

.............

Luxembourg

326,457

$

327,244

Signia

Aerospace

LLC,

First

Lien,

Initial

CME

Term

Loan

,

7.3

%

,

(

3-month

SOFR

+

3

%

),

12/11/31

......................

United

States

271,793

273,492

Vertex

Aerospace

Services

Corp.,

First

Lien,

2024

CME

Term

Loan

,

6.577

%

,

(

1-month

SOFR

+

2.25

%

),

12/06/30

........

United

States

537,079

536,829

1,137,565

a

a

a

a

a

a

k

Air

Freight

&

Logistics

0.3%

Clue

Opco

LLC,

First

Lien,

CME

Term

Loan,

B

,

8.78

%

,

(

3-month

SOFR

+

4.5

%

),

12/19/30

............................

United

States

382,484

380,829

Rand

Parent

LLC,

First

Lien,

CME

Term

Loan,

B

,

7.299

%

,

(

3-month

SOFR

+

3

%

),

3/18/30

.......................

United

States

499,057

497,083

877,912

a

a

a

a

a

a

k

Automobile

Components

1.3%

Adient

US

LLC,

First

Lien,

CME

Term

Loan,

B2

,

6.577

%

,

(

1-month

SOFR

+

2.25

%

),

1/31/31

.....................

United

States

468,721

470,371

Clarios

Global

LP,

First

Lien,

Amendment

No.

6

Dollar

CME

Term

Loan

,

7.077

%

,

(

1-month

SOFR

+

2.75

%

),

1/28/32

.........

United

States

229,961

230,464

DexKo

Global,

Inc.,

First

Lien,

2023

Incremental

CME

Term

Loan

,

8.577

%

,

(

1-month

SOFR

+

4.25

%

),

10/04/28

.............

United

States

233,289

224,882

DexKo

Global,

Inc.,

First

Lien,

Closing

Date

Dollar

CME

Term

Loan

,

8.191

%

,

(

1-month

SOFR

+

3.75

%

),

10/04/28

........

United

States

465,144

446,255

First

Brands

Group

LLC,

First

Lien,

2021

CME

Term

Loan

,

9.541

%

,

(

3-month

SOFR

+

5

%

),

3/30/27

................

United

States

1,189,224

1,126,832

First

Brands

Group

LLC,

First

Lien,

2022-2

Incremental

CME

Term

Loan

,

9.541

%

,

(

3-month

SOFR

+

5

%

),

3/30/27

.......

United

States

1,202,538

1,138,154

3,636,958

a

a

a

a

a

a

Automobiles

0.3%

k

American

Trailer

World

Corp.,

First

Lien,

CME

Term

Loan,

B

,

8.177

%

,

(

1-month

SOFR

+

3.75

%

),

3/03/28

..............

United

States

1,135,380

932,312

Beverages

0.2%

k

Primo

Brands

Corp.,

First

Lien,

2025

Refinancing

CME

Term

Loan

,

6.549

%

,

(

3-month

SOFR

+

2.25

%

),

3/31/28

.........

United

States

553,486

556,099

k

Broadline

Retail

0.3%

Knot

Worldwide,

Inc.

(The),

First

Lien,

Amendment

No.

5

CME

Term

Loan

,

8.077

%

,

(

1-month

SOFR

+

3.75

%

),

1/31/28

.....

United

States

386,097

385,614

Peer

Holding

III

BV,

First

Lien,

CME

Term

Loan,

B5B

,

6.799

%

,

(

3-month

SOFR

+

2.5

%

),

7/01/31

......................

Netherlands

340,734

342,992

728,606

a

a

a

a

a

a

k

Building

Products

0.3%

AZZ,

Inc.,

First

Lien,

Initial

CME

Term

Loan

,

6.827

%

,

(

1-month

SOFR

+

2.5

%

),

5/14/29

.............................

United

States

107,909

108,702

Cornerstone

Building

Brands,

Inc.,

First

Lien,

CME

Term

Loan,

C

,

8.812

%

,

(

1-month

SOFR

+

4.5

%

),

5/15/31

...............

United

States

602,452

515,097

EMRLD

Borrower

LP,

First

Lien,

Second

Amendment

Incremental

CME

Term

Loan

,

6.827

%

,

(

1-month

SOFR

+

2.5

%

),

8/04/31

..

United

States

205,547

205,474

MIWD

Holdco

II

LLC,

First

Lien,

2024

Incremental

CME

Term

Loan

,

7.327

%

,

(

1-month

SOFR

+

3

%

),

3/28/31

............

United

States

103,743

104,096

933,369

a

a

a

a

a

a

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

20

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

j

Senior

Floating

Rate

Interests

(continued)

k

Capital

Markets

2.5%

AI

Aqua

Merger

Sub,

Inc.,

First

Lien,

2025

Refinancing

CME

Term

Loan,

B

,

7.424

%

,

(

12-month

SOFR

+

3.25

%

),

7/31/28

......

United

States

1,202,299

$

1,201,950

Aretec

Group,

Inc.,

First

Lien,

CME

Term

Loan,

B3

,

7.827

%

,

(

1-month

SOFR

+

3.5

%

),

8/09/30

......................

United

States

742,119

744,301

Ascensus

Group

Holdings,

Inc.,

First

Lien,

2024

CME

Term

Loan,

B

,

7.327

%

,

(

1-month

SOFR

+

3

%

),

8/02/28

..............

United

States

802,415

804,923

Citadel

Securities

Global

Holdings

LLC,

First

Lien,

2024

CME

Term

Loan

,

6.327

%

,

(

1-month

SOFR

+

2

%

),

10/31/31

......

United

States

312,093

313,713

Deerfield

Dakota

Holding

LLC,

First

Lien,

Initial

Dollar

CME

Term

Loan

,

8.049

%

,

(

3-month

SOFR

+

3.75

%

),

4/09/27

.........

United

States

559,094

544,574

Edelman

Financial

Engines

Center

LLC

(The),

First

Lien,

Initial

CME

Term

Loan

,

7.327

%

,

(

1-month

SOFR

+

3

%

),

4/07/28

...

United

States

963,840

965,984

First

Eagle

Holdings,

Inc.,

First

Lien,

CME

Term

Loan,

B2

,

7.296

%

,

(

3-month

SOFR

+

3

%

),

3/05/29

................

United

States

691,250

692,619

GTCR

Everest

Borrower

LLC,

First

Lien,

Initial

CME

Term

Loan

,

7.049

%

,

(

3-month

SOFR

+

2.75

%

),

9/05/31

..............

United

States

158,806

159,214

Jane

Street

Group

LLC,

First

Lien,

Extended

CME

Term

Loan

,

6.333

%

,

(

3-month

SOFR

+

2

%

),

12/15/31

................

United

States

526,564

526,508

g

Osttra

Group

Ltd.,

First

Lien,

CME

Term

Loan

,

7.325

%

,

(

12-month

SOFR

+

3.5

%

),

5/21/32

.............................

United

Kingdom

209,607

210,498

f

Russell

Investments

US

Institutional

Holdco,

Inc.,

First

Lien,

2027

CME

Term

Loan

,

PIK,

9.28

%

,

(

3-month

SOFR

+

5

%

),

5/28/27

United

States

609,163

576,066

6,740,350

a

a

a

a

a

a

k

Chemicals

2.4%

A-AP

Buyer,

Inc.,

First

Lien,

Initial

CME

Term

Loan

,

7.077

%

,

(

1-month

SOFR

+

2.75

%

),

9/09/31

.....................

United

States

106,122

106,188

Hexion

Holdings

Corp.,

First

Lien,

2024

Refinancing

CME

Term

Loan

,

8.312

%

,

(

1-month

SOFR

+

4

%

),

3/15/29

............

United

States

970,169

969,257

Hexion

Holdings

Corp.,

Second

Lien,

Initial

CME

Term

Loan

,

11.864

%

,

(

1-month

SOFR

+

7.438

%

),

3/15/30

............

United

States

196,990

193,297

INEOS

US

Finance

LLC,

First

Lien,

2030

Dollar

CME

Term

Loan

,

7.577

%

,

(

1-month

SOFR

+

3.25

%

),

2/18/30

..............

Luxembourg

314,424

302,157

INEOS

US

Petrochem

LLC,

First

Lien,

New

CME

Term

Loan,

B1

,

8.677

%

,

(

1-month

SOFR

+

4.25

%

),

4/02/29

..............

United

States

904,146

844,246

Lummus

Technology

Holdings

V

LLC,

First

Lien,

Amendment

No.

2

Refinancing

CME

Term

Loan,

B

,

7.327

%

,

(

1-month

SOFR

+

3

%

),

12/31/29

....................................

United

States

899,545

903,341

Nouryon

Finance

BV,

First

Lien,

November

2024

Dollar

CME

Term

Loan,

B1

,

7.51

%

,

(

3-month

SOFR

+

3.25

%

),

4/03/28

...

Netherlands

486,298

489,187

Nouryon

Finance

BV,

First

Lien,

November

2024

Dollar

CME

Term

Loan,

B2

,

7.55

%

,

(

3-month

SOFR

+

3.25

%

),

4/03/28

...

Netherlands

269,355

270,955

SCIH

Salt

Holdings,

Inc.,

First

Lien,

Incremental

CME

Term

Loan,

B1

,

7.28

%

,

(

3-month

SOFR

+

3

%

),

1/31/29

..............

United

States

1,366,796

1,368,860

Vibrantz

Technologies,

Inc.,

First

Lien,

Initial

CME

Term

Loan

,

8.642

%

,

(

3-month

SOFR

+

4.25

%

),

4/23/29

..............

United

States

1,167,000

1,022,175

6,469,663

a

a

a

a

a

a

k

Commercial

Services

&

Supplies

1.9%

Allied

Universal

Holdco

LLC,

First

Lien,

Initial

USD

CME

Term

Loan

,

8.177

%

,

(

1-month

SOFR

+

3.75

%

),

5/12/28

.........

United

States

1,686,855

1,696,799

Ensemble

RCM

LLC,

First

Lien,

CME

Term

Loan,

B

,

7.28

%

,

(

3-month

SOFR

+

3

%

),

8/01/29

.......................

United

States

70,410

70,764

Madison

IAQ

LLC,

First

Lien,

Initial

CME

Term

Loan

,

6.762

%

,

(

6-month

SOFR

+

2.5

%

),

6/21/28

......................

United

States

977,473

979,306

Neptune

Bidco

US,

Inc.,

First

Lien,

Dollar

CME

Term

Loan,

B

,

9.33

%

,

(

3-month

SOFR

+

5

%

),

4/11/29

..................

United

States

305,707

289,929

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

21

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

j

Senior

Floating

Rate

Interests

(continued)

k

Commercial

Services

&

Supplies

(continued)

Pitney

Bowes,

Inc.,

First

Lien,

CME

Term

Loan,

B

,

8.077

%

,

(

1-month

SOFR

+

3.75

%

),

3/19/32

.....................

United

States

1,097,250

$

1,097,250

Spin

Holdco,

Inc.,

First

Lien,

Initial

CME

Term

Loan

,

8.577

%

,

(

3-month

SOFR

+

4

%

),

3/06/28

.......................

United

States

1,244,750

1,096,936

5,230,984

a

a

a

a

a

a

Communications

Equipment

0.2%

k

Delta

Topco,

Inc.,

First

Lien,

Fourth

Amendment

Refinancing

CME

Term

Loan

,

7.074

%

,

(

3-month

SOFR

+

2.75

%

),

11/30/29

....

United

States

446,460

443,788

k

Construction

&

Engineering

0.4%

Brand

Industrial

Services,

Inc.,

First

Lien,

CME

Term

Loan,

C

,

8.776

%

,

(

3-month

SOFR

+

4.5

%

),

8/01/30

...............

United

States

437,679

368,117

Chromalloy

Corp.,

First

Lien,

CME

Term

Loan

,

8.038

%

,

(

3-month

SOFR

+

3.75

%

),

3/27/31

............................

United

States

333,631

334,569

Kodiak

Building

Partners,

Inc.,

First

Lien,

CME

Term

Loan,

B

,

8.035

%

,

(

3-month

SOFR

+

3.75

%

),

12/04/31

.............

United

States

70,018

67,597

Zekelman

Industries,

Inc.,

First

Lien,

2024

CME

Term

Loan

,

6.563

%

,

(

1-month

SOFR

+

2.25

%

),

1/24/31

..............

United

States

390,431

391,372

1,161,655

a

a

a

a

a

a

k

Consumer

Finance

0.2%

Neon

Maple

US

Debt

Mergersub,

Inc.,

First

Lien,

Term

Loan,

B1

,

7.327

%

,

(

1-month

SOFR

+

3

%

),

11/17/31

................

United

States

453,564

454,838

g

Shift4

Payments

LLC,

First

Lien,

CME

Term

Loan

,

6.803

%

,

(

12-month

SOFR

+

2.75

%

),

5/07/32

....................

United

States

99,075

99,989

554,827

a

a

a

a

a

a

k

Containers

&

Packaging

2.2%

Berlin

Packaging

LLC,

First

Lien,

2024-2

Replacement

CME

Term

Loan

,

7.821

%

,

(

3-month

SOFR

+

3.5

%

),

6/09/31

..........

United

States

794,668

798,419

Charter

Next

Generation,

Inc.,

First

Lien,

2024

Replacement

CME

Term

Loan

,

7.061

%

,

(

1-month

SOFR

+

2.75

%

),

11/29/30

....

United

States

1,509,857

1,516,938

Clydesdale

Acquisition

Holdings,

Inc.,

First

Lien,

2025

Incremental

Closing

Date

CME

Term

Loan,

B

,

7.577

%

,

(

1-month

SOFR

+

3.25

%

),

4/01/32

...................................

United

States

542,244

540,739

g

Clydesdale

Acquisition

Holdings,

Inc.,

First

Lien,

2025

Incremental

Delayed

Draw

CME

Term

Loan,

B

,

7.577

%

,

(

1-month

SOFR

+

3.25

%

),

4/01/32

...................................

United

States

284

284

Klockner

Pentaplast

of

America,

Inc.,

First

Lien,

USD

CME

Term

Loan,

B

,

9.227

%

,

(

6-month

SOFR

+

4.725

%

),

2/09/26

......

Luxembourg

1,569,501

1,456,269

Mauser

Packaging

Solutions

Holding

Co.,

First

Lien,

Initial

CME

Term

Loan

,

7.324

%

,

(

1-month

SOFR

+

3

%

),

4/15/27

.......

United

States

1,176,000

1,177,564

ProAmpac

PG

Borrower

LLC,

First

Lien,

2024

CME

Term

Loan,

B

,

8.283

%

,

(

3-month

SOFR

+

4

%

),

9/15/28

..............

United

States

477,923

480,372

5,970,585

a

a

a

a

a

a

k

Distributors

0.7%

BCPE

Empire

Holdings,

Inc.,

First

Lien,

Amendment

No.

8

Incremental

CME

Term

Loan

,

7.577

%

,

(

1-month

SOFR

+

3.25

%

),

12/11/30

..................................

United

States

793,511

789,940

Gloves

Buyer,

Inc.,

First

Lien,

Initial

CME

Term

Loan

,

8.321

%

,

(

1-month

SOFR

+

4

%

),

5/21/32

.......................

United

States

400,000

393,000

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

22

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

j

Senior

Floating

Rate

Interests

(continued)

k

Distributors

(continued)

Verde

Purchaser

LLC,

First

Lien,

Second

Refinancing

CME

Term

Loan

,

8.296

%

,

(

3-month

SOFR

+

4

%

),

11/30/30

...........

United

States

655,289

$

658,402

1,841,342

a

a

a

a

a

a

Diversified

Consumer

Services

0.7%

k

Ascend

Learning

LLC,

First

Lien,

Initial

CME

Term

Loan

,

7.327

%

,

(

1-month

SOFR

+

3

%

),

12/11/28

......................

United

States

475,610

476,078

k

KUEHG

Corp.,

First

Lien,

2024

Refinancing

CME

Term

Loan

,

7.546

%

,

(

3-month

SOFR

+

3.25

%

),

6/12/30

..............

United

States

365,297

365,896

k

Mavis

Tire

Express

Services

Topco

Corp.,

First

Lien,

2025

Incremental

CME

Term

Loan

,

7.333

%

,

(

3-month

SOFR

+

3

%

),

5/04/28

.........................................

United

States

102,674

102,752

b,g,l

Mavis

Tire

Express

Services

Topco

Corp.,

First

Lien,

Incremental

CME

Term

Loan

,

TBD,

5/01/32

........................

United

States

132,743

131,084

k

Pre-Paid

Legal

Services,

Inc.,

First

Lien,

Initial

CME

Term

Loan

,

7.577

%

,

(

1-month

SOFR

+

3.25

%

),

12/07/28

.............

United

States

682,597

679,771

k

Wand

NewCo

3,

Inc.,

First

Lien,

Initial

CME

Term

Loan

,

6.827

%

,

(

1-month

SOFR

+

2.5

%

),

1/30/31

......................

United

States

99,567

99,237

1,854,818

a

a

a

a

a

a

Diversified

Telecommunication

Services

0.1%

g,k

Ensono,

Inc.,

First

Lien,

Initial

CME

Term

Loan

,

8.441

%

,

(

1-month

SOFR

+

4

%

),

5/26/28

...............................

United

States

258,588

259,089

Electrical

Equipment

0.2%

k

Indicor

LLC,

First

Lien,

Dollar

CME

Term

Loan,

D

,

7.046

%

,

(

3-month

SOFR

+

2.75

%

),

11/22/29

....................

United

States

579,627

579,192

Entertainment

0.2%

k

Playtika

Holding

Corp.,

First

Lien,

CME

Term

Loan,

B1

,

7.191

%

,

(

1-month

SOFR

+

2.75

%

),

3/13/28

.....................

United

States

583,279

574,798

k

Financial

Services

0.9%

g

Apex

Group

Treasury

LLC,

First

Lien,

2025

Refinancing

CME

Term

Loan,

B

,

7.825

%

,

(

1-month

SOFR

+

3.5

%

),

2/27/32

....

United

States

197,917

197,484

Boost

Newco

Borrower

LLC,

First

Lien,

CME

Term

Loan,

B2

,

6.296

%

,

(

3-month

SOFR

+

2

%

),

1/31/31

................

United

States

432,611

434,234

g

GC

Ferry

Acquisition

I,

Inc.,

First

Lien,

CME

Term

Loan

,

7.566

%

,

(

12-month

SOFR

+

3.5

%

),

6/02/32

.....................

United

States

564,718

555,541

June

Purchaser

LLC,

First

Lien,

Initial

CME

Term

Loan

,

7.467

%

,

(

6-month

SOFR

+

3.25

%

),

11/28/31

....................

United

States

419,279

421,488

Priority

Holdings

LLC,

First

Lien,

Initial

CME

Term

Loan

,

9.077

%

,

(

1-month

SOFR

+

4.75

%

),

5/16/31

.....................

United

States

370,747

372,323

Red

Planet

Borrower

LLC,

First

Lien,

CME

Term

Loan,

B

,

8.177

%

,

(

1-month

SOFR

+

3.75

%

),

10/02/28

....................

United

States

467,192

462,472

2,443,542

a

a

a

a

a

a

Food

Products

0.1%

k

Primary

Products

Finance

LLC,

First

Lien,

2024

Second

Replacement

CME

Term

Loan,

B

,

7.535

%

,

(

3-month

SOFR

+

3.25

%

),

4/02/29

...................................

United

States

362,396

361,075

k

Ground

Transportation

1.2%

Albion

Financing

3

SARL,

First

Lien,

2025

Amended

USD

CME

Term

Loan

,

7.321

%

,

(

3-month

SOFR

+

3

%

),

8/16/29

.......

Luxembourg

140,762

141,158

First

Student

Bidco,

Inc.,

First

Lien,

CME

Term

Loan,

B

,

6.796

%

,

(

3-month

SOFR

+

2.5

%

),

7/21/28

......................

United

States

347,451

348,049

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

23

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

j

Senior

Floating

Rate

Interests

(continued)

k

Ground

Transportation

(continued)

First

Student

Bidco,

Inc.,

First

Lien,

CME

Term

Loan,

B2

,

6.796

%

,

(

3-month

SOFR

+

2.5

%

),

7/21/28

......................

United

States

367,401

$

367,974

First

Student

Bidco,

Inc.,

First

Lien,

Initial

CME

Term

Loan,

C

,

6.796

%

,

(

3-month

SOFR

+

2.5

%

),

7/21/28

...............

United

States

106,521

106,704

Kenan

Advantage

Group,

Inc.

(The),

First

Lien,

U.S.

CME

Term

Loan,

B4

,

7.577

%

,

(

1-month

SOFR

+

3.25

%

),

1/25/29

......

United

States

1,284,108

1,268,056

f

LaserShip,

Inc.,

First

Lien,

CME

Term

Loan,

B1

,

PIK,

6.057

%

,

(

3-month

SOFR

+

1.5

%

),

8/10/29

......................

United

States

325,116

190,698

f

LaserShip,

Inc.,

First

Lien,

CME

Term

Loan,

D

,

PIK,

6.057

%

,

(

3-month

SOFR

+

1.5

%

),

8/10/29

......................

United

States

235,429

67,660

Savage

Enterprises

LLC,

First

Lien,

Refinancing

CME

Term

Loan

,

7.066

%

,

(

1-month

SOFR

+

2.75

%

),

9/15/28

..............

United

States

147,516

148,145

g

Student

Transportation

of

America

Holdings,

Inc.,

First

Lien,

CME

Term

Loan,

B

,

7.571

%

,

(

3-month

SOFR

+

3.25

%

),

6/10/32

...

United

States

182,292

182,890

WWEX

UNI

TopCo

Holdings

LLC,

First

Lien,

Initial

CME

Term

Loan

,

8.299

%

,

(

3-month

SOFR

+

4

%

),

7/26/28

............

United

States

595,373

596,129

3,417,463

a

a

a

a

a

a

Health

Care

Equipment

&

Supplies

0.8%

g,k

Bausch

+

Lomb

Corp.,

First

Lien,

CME

Term

Loan,

B

,

8.035

%

,

(

12-month

SOFR

+

4.25

%

),

12/17/30

...................

United

States

168,235

168,762

k

Bausch

+

Lomb

Corp.,

First

Lien,

New

CME

Term

Loan

,

8.327

%

,

(

1-month

SOFR

+

4

%

),

9/29/28

.......................

United

States

491,250

492,274

k

Medline

Borrower

LP,

First

Lien,

Dollar

Incremental

CME

Term

Loan

,

6.577

%

,

(

1-month

SOFR

+

2.25

%

),

10/23/28

........

United

States

333,677

334,436

g,l

RP

Escrow

Issuer

LLC,

First

Lien,

CME

Term

Loan

,

TBD,

6/24/32

United

States

500,000

496,563

k

US

Radiology

Specialists,

Inc.

(US

Outpatient

Imaging

Services,

Inc.),

First

Lien,

CME

Term

Loan

,

9.046

%

,

(

3-month

SOFR

+

4.75

%

),

12/15/27

..................................

United

States

718,657

721,129

2,213,164

a

a

a

a

a

a

k

Health

Care

Providers

&

Services

3.4%

ADMI

Corp.,

First

Lien,

Amendment

No.

4

Refinancing

CME

Term

Loan

,

7.816

%

,

(

1-month

SOFR

+

3.375

%

),

12/23/27

.......

United

States

747,881

710,173

ADMI

Corp.,

First

Lien,

Amendment

No.

5

CME

Term

Loan

,

8.191

%

,

(

1-month

SOFR

+

3.75

%

),

12/23/27

.............

United

States

201,482

192,667

ADMI

Corp.,

First

Lien,

CME

Term

Loan,

B5

,

10.077

%

,

(

1-month

SOFR

+

5.75

%

),

12/23/27

...........................

United

States

127,922

124,340

Aveanna

Healthcare

LLC,

First

Lien,

2021

Extended

CME

Term

Loan

,

8.183

%

,

(

3-month

SOFR

+

3.75

%

),

7/17/28

.........

United

States

410,104

402,287

Charlotte

Buyer,

Inc.,

First

Lien,

Second

Refinancing

CME

Term

Loan

,

8.564

%

,

(

1-month

SOFR

+

4.25

%

),

2/11/28

.........

United

States

1,124,827

1,126,335

CNT

Holdings

I

Corp.,

First

Lien,

2025

Replacement

CME

Term

Loan

,

6.78

%

,

(

3-month

SOFR

+

2.5

%

),

11/08/32

..........

United

States

144,302

144,821

LifePoint

Health,

Inc.,

First

Lien,

2024-2

Refinancing

CME

Term

Loan

,

7.82

%

,

(

3-month

SOFR

+

3.5

%

),

5/19/31

...........

United

States

399,861

394,399

LifePoint

Health,

Inc.,

First

Lien,

CME

Term

Loan,

B1

,

8.006

%

,

(

3-month

SOFR

+

3.75

%

),

5/19/31

.....................

United

States

222,046

220,033

Medical

Solutions

Holdings,

Inc.,

First

Lien,

CME

Term

Loan

,

7.88

%

,

(

3-month

SOFR

+

3.5

%

),

11/01/28

...............

United

States

570,413

307,370

MPH

Acquisition

Holdings

LLC,

First

Lien,

Exchange

First

Out

CME

Term

Loan

,

8.03

%

,

(

3-month

SOFR

+

3.75

%

),

12/31/30

.

United

States

66,546

65,681

MPH

Acquisition

Holdings

LLC,

First

Lien,

Second

Out

CME

Term

Loan

,

9.141

%

,

(

3-month

SOFR

+

4.6

%

),

12/31/30

.........

United

States

551,632

496,468

National

Mentor

Holdings,

Inc.,

First

Lien,

Initial

CME

Term

Loan

,

8.175

%

,

(

3-month

SOFR

+

3.75

%

),

3/02/28

..............

United

States

1,463,882

1,418,136

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

24

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

j

Senior

Floating

Rate

Interests

(continued)

k

Health

Care

Providers

&

Services

(continued)

National

Mentor

Holdings,

Inc.,

First

Lien,

Initial

CME

Term

Loan,

C

,

8.146

%

,

(

3-month

SOFR

+

3.75

%

),

3/02/28

............

United

States

48,018

$

46,517

Owens

&

Minor,

Inc.,

First

Lien,

Initial

CME

Term

Loan,

B1

,

8.177

%

,

(

1-month

SOFR

+

3.75

%

),

3/29/29

..............

United

States

128,392

129,355

Pacific

Dental

Services,

Inc.,

First

Lien,

CME

Term

Loan

,

7.068

%

,

(

1-month

SOFR

+

2.75

%

),

3/17/31

.....................

United

States

527,022

528,105

Pathway

Vet

Alliance

LLC,

First

Lien,

CME

Term

Loan,

A

,

9.28

%

,

(

3-month

SOFR

+

5

%

),

6/30/28

.......................

United

States

196,885

198,411

f

Pathway

Vet

Alliance

LLC,

First

Lien,

CME

Term

Loan,

B

,

PIK,

9.28

%

,

(

3-month

SOFR

+

5

%

),

6/30/28

.................

United

States

623,472

505,791

Phoenix

Newco,

Inc.,

First

Lien,

Sixth

Amendment

CME

Term

Loan

,

6.827

%

,

(

1-month

SOFR

+

2.5

%

),

11/15/28

.........

United

States

257,800

258,163

Star

Parent,

Inc.,

First

Lien,

CME

Term

Loan

,

8.296

%

,

(

3-month

SOFR

+

4

%

),

9/27/30

...............................

United

States

460,833

456,921

US

Anesthesia

Partners,

Inc.,

First

Lien,

Initial

CME

Term

Loan

,

8.689

%

,

(

1-month

SOFR

+

4.25

%

),

10/02/28

.............

United

States

636,268

629,616

Waystar

Technologies,

Inc.,

First

Lien,

Initial

CME

Term

Loan

,

6.577

%

,

(

1-month

SOFR

+

2.25

%

),

10/22/29

.............

United

States

922,666

927,284

9,282,873

a

a

a

a

a

a

k

Health

Care

Technology

0.9%

AthenaHealth

Group,

Inc.,

First

Lien,

Initial

CME

Term

Loan

,

7.077

%

,

(

1-month

SOFR

+

2.75

%

),

2/15/29

..............

United

States

1,732,191

1,732,408

Cotiviti,

Inc.,

First

Lien,

New

CME

Term

Loan,

B

,

7.074

%

,

(

1-month

SOFR

+

2.75

%

),

5/01/31

.....................

United

States

846,461

843,553

2,575,961

a

a

a

a

a

a

k

Hotels,

Restaurants

&

Leisure

2.1%

Bally's

Corp.,

First

Lien,

CME

Term

Loan,

B

,

7.784

%

,

(

3-month

SOFR

+

3.25

%

),

10/02/28

...........................

United

States

967,939

859,046

Caesars

Entertainment,

Inc.,

First

Lien,

2023

Incremental

CME

Term

Loan,

B

,

6.577

%

,

(

1-month

SOFR

+

2.25

%

),

2/06/30

...

United

States

245,250

245,434

Fertitta

Entertainment

LLC,

First

Lien,

Initial

CME

Term

Loan,

B

,

7.827

%

,

(

1-month

SOFR

+

3.5

%

),

1/29/29

...............

United

States

662,056

662,083

Flynn

Restaurant

Group

LP,

First

Lien,

2025

CME

Term

Loan

,

8.077

%

,

(

1-month

SOFR

+

3.75

%

),

1/28/32

..............

United

States

171,266

171,266

Flynn

Restaurant

Group

LP,

First

Lien,

CME

Term

Loan

,

8.691

%

,

(

1-month

SOFR

+

4.25

%

),

12/01/28

....................

United

States

753,976

758,877

Golden

State

Foods

LLC,

First

Lien,

Initial

CME

Term

Loan

,

8.561

%

,

(

1-month

SOFR

+

4.25

%

),

12/04/31

.............

United

States

196,262

197,449

Great

Canadian

Gaming

Corp.,

First

Lien,

CME

Term

Loan,

B

,

9.074

%

,

(

3-month

SOFR

+

4.75

%

),

11/01/29

.............

Canada

395,350

387,047

Hilton

Grand

Vacations

Borrower

LLC,

First

Lien,

Initial

CME

Term

Loan

,

6.327

%

,

(

1-month

SOFR

+

2

%

),

8/02/28

............

United

States

445,130

445,513

IRB

Holding

Corp.,

First

Lien,

2024

Second

Replacement

CME

Term

Loan,

B

,

6.827

%

,

(

1-month

SOFR

+

2.5

%

),

12/15/27

...

United

States

344,774

345,134

Light

&

Wonder

International,

Inc.,

First

Lien,

CME

Term

Loan,

B2

,

6.564

%

,

(

1-month

SOFR

+

2.25

%

),

4/16/29

...........

United

States

158,748

159,086

Ontario

Gaming

GTA

LP,

First

Lien,

CME

Term

Loan,

B

,

8.549

%

,

(

3-month

SOFR

+

4.25

%

),

8/01/30

.....................

Canada

418,794

415,327

Penn

Entertainment,

Inc.,

First

Lien,

CME

Term

Loan,

B

,

6.827

%

,

(

1-month

SOFR

+

2.5

%

),

5/03/29

......................

United

States

106,909

107,162

Scientific

Games

Holdings

LP,

First

Lien,

2024

Refinancing

Dollar

CME

Term

Loan

,

7.285

%

,

(

3-month

SOFR

+

3

%

),

4/04/29

...

United

States

892,839

893,102

5,646,526

a

a

a

a

a

a

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

25

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

j

Senior

Floating

Rate

Interests

(continued)

Household

Durables

0.1%

k

Hunter

Douglas,

Inc.,

First

Lien,

CME

Term

Loan,

B1

,

7.546

%

,

(

3-month

SOFR

+

3.25

%

),

1/16/32

.....................

Netherlands

265,903

$

265,294

Independent

Power

and

Renewable

Electricity

Producers

0.1%

k

Talen

Energy

Supply

LLC,

First

Lien,

Initial

CME

Term

Loan,

B

,

6.808

%

,

(

3-month

SOFR

+

2.5

%

),

5/17/30

...............

United

States

206,106

206,830

k

Insurance

2.3%

Acrisure

LLC,

First

Lien,

2025

Refinancing

CME

Term

Loan,

B

,

7.568

%

,

(

1-month

SOFR

+

3.25

%

),

6/21/32

..............

United

States

291,971

291,971

Acrisure

LLC,

First

Lien,

CME

Term

Loan,

B6

,

7.327

%

,

(

1-month

SOFR

+

3

%

),

11/06/30

..............................

United

States

1,110,741

1,109,435

Alliant

Holdings

Intermediate

LLC,

First

Lien,

Initial

CME

Term

Loan

,

7.072

%

,

(

1-month

SOFR

+

2.75

%

),

9/19/31

.........

United

States

950,359

951,652

AssuredPartners,

Inc.,

First

Lien,

2024

CME

Term

Loan

,

7.827

%

,

(

1-month

SOFR

+

3.5

%

),

2/14/31

......................

United

States

858,112

861,231

Asurion

LLC,

First

Lien,

New

CME

Term

Loan,

B10

,

8.427

%

,

(

1-month

SOFR

+

4

%

),

8/21/28

.......................

United

States

389,000

384,165

Asurion

LLC,

Second

Lien,

New

CME

Term

Loan,

B3

,

9.691

%

,

(

1-month

SOFR

+

5.25

%

),

1/31/28

.....................

United

States

32,665

31,327

Asurion

LLC,

Second

Lien,

New

CME

Term

Loan,

B4

,

9.691

%

,

(

1-month

SOFR

+

5.25

%

),

1/19/29

.....................

United

States

1,085,259

1,009,714

Broadstreet

Partners,

Inc.,

First

Lien,

2024

CME

Term

Loan,

B

,

7.327

%

,

(

1-month

SOFR

+

3

%

),

6/16/31

................

United

States

217,722

218,228

Sedgwick

Claims

Management

Services,

Inc.,

First

Lien,

2024

CME

Term

Loan

,

7.327

%

,

(

1-month

SOFR

+

3

%

),

7/31/31

...

United

States

1,266,725

1,272,710

Truist

Insurance

Holdings

LLC,

First

Lien,

CME

Term

Loan,

B

,

7.046

%

,

(

3-month

SOFR

+

2.75

%

),

5/06/31

..............

United

States

113,782

113,971

6,244,404

a

a

a

a

a

a

IT

Services

2.0%

k

Barracuda

Networks,

Inc.,

First

Lien,

Initial

CME

Term

Loan

,

8.78

%

,

(

3-month

SOFR

+

4.5

%

),

8/15/29

................

United

States

817,039

680,900

f

Diamond

Sports

Net

LLC,

First

Lien,

Exit

Term

Loan

,

PIK,

15

%

,

1/03/28

.........................................

United

States

32,952

30,110

k

Fortress

Intermediate

3,

Inc.,

First

Lien,

Initial

CME

Term

Loan

,

7.827

%

,

(

1-month

SOFR

+

3.5

%

),

6/27/31

...............

United

States

526,156

528,130

k

Gainwell

Acquisition

Corp.,

First

Lien,

CME

Term

Loan,

B

,

8.396

%

,

(

3-month

SOFR

+

4

%

),

10/01/27

................

United

States

613,910

592,884

g,k

Kaseya,

Inc.,

First

Lien,

Initial

CME

Term

Loan

,

7.577

%

,

(

1-month

SOFR

+

3.25

%

),

3/05/32

............................

United

States

543,928

546,691

k

MH

Sub

I

LLC

(Micro

Holding

Corp.),

First

Lien,

CME

Term

Loan

,

8.577

%

,

(

1-month

SOFR

+

4.25

%

),

5/03/28

..............

United

States

639,419

601,054

k

MH

Sub

I

LLC,

First

Lien,

2024

December

New

CME

Term

Loan

,

8.577

%

,

(

1-month

SOFR

+

4.25

%

),

12/31/31

.............

United

States

432,770

377,187

k

Nielsen

Consumer

LLC,

First

Lien,

Eleventh

Amendment

Dollar

Refinancing

CME

Term

Loan

,

7.827

%

,

(

1-month

SOFR

+

3.5

%

),

3/06/28

.........................................

United

States

580,420

581,692

k

Peraton

Corp.,

First

Lien,

CME

Term

Loan,

B

,

8.177

%

,

(

1-month

SOFR

+

3.75

%

),

2/01/28

............................

United

States

1,399,387

1,239,332

k

Plano

HoldCo,

Inc.,

First

Lien,

Closing

Date

CME

Term

Loan

,

7.796

%

,

(

3-month

SOFR

+

3.5

%

),

10/02/31

..............

United

States

332,500

316,706

5,494,686

a

a

a

a

a

a

Leisure

Products

0.1%

k

GBT

US

III

LLC,

First

Lien,

CME

Term

Loan,

B1

,

6.783

%

,

(

3-month

SOFR

+

2.5

%

),

7/25/31

......................

United

States

137,812

138,213

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

26

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

j

Senior

Floating

Rate

Interests

(continued)

k

Machinery

0.5%

Oregon

Tool

Lux

LP,

Second

Lien,

CME

Term

Loan,

B

,

8.586

%

,

(

3-month

SOFR

+

4

%

),

10/15/29

......................

United

States

456,655

$

372,553

Pro

Mach

Group,

Inc.,

First

Lien,

Amendment

No.

5

Refinancing

CME

Term

Loan

,

7.077

%

,

(

1-month

SOFR

+

2.75

%

),

8/31/28

.

United

States

37,048

37,166

SunSource

Borrower

LLC,

First

Lien,

First

Refinancing

CME

Term

Loan

,

8.427

%

,

(

1-month

SOFR

+

4

%

),

3/25/31

............

United

States

395,990

390,595

TK

Elevator

Midco

GmbH,

First

Lien,

CME

Term

Loan,

B1

,

7.237

%

,

(

3-month

SOFR

+

3

%

),

4/30/30

................

Germany

687,089

689,666

1,489,980

a

a

a

a

a

a

k

Media

1.3%

Cengage

Learning,

Inc.,

First

Lien,

2024

Refinancing

CME

Term

Loan

,

7.83

%

,

(

3-month

SOFR

+

3.5

%

),

3/24/31

...........

United

States

836,223

839,200

Gray

Media,

Inc.,

First

Lien,

CME

Term

Loan,

D

,

7.439

%

,

(

1-month

SOFR

+

3

%

),

12/01/28

......................

United

States

288,568

280,140

McGraw-Hill

Education,

Inc.,

First

Lien,

CME

Term

Loan,

B

,

7.577

%

,

(

1-month

SOFR

+

3.25

%

),

8/06/31

..............

United

States

599,851

602,601

Univision

Communications,

Inc.,

First

Lien,

2024

Replacement

CME

Term

Loan

,

7.941

%

,

(

1-month

SOFR

+

3.5

%

),

1/23/29

..

United

States

693,000

681,015

Univision

Communications,

Inc.,

First

Lien,

Initial

CME

Term

Loan

,

7.691

%

,

(

1-month

SOFR

+

3.25

%

),

1/31/29

..............

United

States

331,264

321,119

Virgin

Media

Bristol

LLC,

First

Lien,

Advance

CME

Term

Loan,

Q

,

7.676

%

,

(

1-month

SOFR

+

3.25

%

),

1/31/29

..............

United

States

762,949

757,273

3,481,348

a

a

a

a

a

a

Paper

&

Forest

Products

0.2%

k

Glatfelter

Corp.,

First

Lien,

CME

Term

Loan

,

8.583

%

,

(

3-month

SOFR

+

4.25

%

),

11/04/31

...........................

United

States

597,000

587,299

k

Passenger

Airlines

0.7%

AAdvantage

Loyalty

IP

Ltd.,

First

Lien,

CME

Term

Loan

,

6.522

%

,

(

3-month

SOFR

+

2.25

%

),

4/20/28

.....................

United

States

470,684

468,293

American

Airlines,

Inc.,

First

Lien,

2025

Incremental

CME

Term

Loan

,

7.58

%

,

(

3-month

SOFR

+

3.25

%

),

5/28/32

..........

United

States

96,774

97,524

American

Airlines,

Inc.,

First

Lien,

Initial

CME

Term

Loan

,

6.507

%

,

(

6-month

SOFR

+

2.25

%

),

6/04/29

.....................

United

States

792,000

785,862

United

Airlines,

Inc.,

First

Lien,

CME

Term

Loan,

B

,

6.275

%

,

(

3-month

SOFR

+

2

%

),

2/24/31

.......................

United

States

497,224

498,934

1,850,613

a

a

a

a

a

a

k

Personal

Care

Products

0.4%

Conair

Holdings

LLC,

First

Lien,

CME

Term

Loan,

B

,

8.191

%

,

(

1-month

SOFR

+

3.75

%

),

5/17/28

.....................

United

States

648,238

479,696

Opal

LLC,

First

Lien,

CME

Term

Loan,

B2

,

7.435

%

,

(

6-month

SOFR

+

3.25

%

),

3/31/32

............................

United

States

700,000

703,721

1,183,417

a

a

a

a

a

a

k

Pharmaceuticals

0.4%

Endo

Finance

Holdings,

Inc.,

First

Lien,

2024

Refinancing

CME

Term

Loan

,

8.327

%

,

(

1-month

SOFR

+

4

%

),

4/23/31

.......

United

States

517,185

517,508

Grifols

Worldwide

Operations

USA,

Inc.,

First

Lien,

CME

Term

Loan,

B

,

6.483

%

,

(

3-month

SOFR

+

2

%

),

11/15/27

.........

Spain

340,419

339,804

Southern

Veterinary

Partners

LLC,

First

Lien,

2024-3

New

CME

Term

Loan

,

7.527

%

,

(

3-month

SOFR

+

3.25

%

),

12/04/31

....

United

States

171,983

172,378

1,029,690

a

a

a

a

a

a

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

27

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

j

Senior

Floating

Rate

Interests

(continued)

k

Professional

Services

1.2%

CHG

Healthcare

Services,

Inc.,

First

Lien,

Refinancing

CME

Term

Loan

,

7.333

%

,

(

3-month

SOFR

+

3

%

),

9/29/28

............

United

States

560,272

$

562,846

CoreLogic,

Inc.,

First

Lien,

Initial

CME

Term

Loan

,

7.941

%

,

(

1-month

SOFR

+

3.5

%

),

6/02/28

......................

United

States

592,815

587,536

Ingenovis

Health,

Inc.,

First

Lien,

Initial

CME

Term

Loan

,

8.697

%

,

(

3-month

SOFR

+

4.25

%

),

3/06/28

.....................

United

States

767,218

336,617

Soliant

Lower

Intermediate

LLC,

First

Lien,

Initial

CME

Term

Loan

,

8.002

%

,

(

3-month

SOFR

+

3.75

%

),

7/18/31

.........

United

States

571,950

568,733

WestJet

Loyalty

LP,

First

Lien,

Initial

CME

Term

Loan

,

7.549

%

,

(

3-month

SOFR

+

3.25

%

),

2/14/31

.....................

Canada

1,192,859

1,194,499

3,250,231

a

a

a

a

a

a

Real

Estate

Management

&

Development

0.0%

†

k

Greystar

Real

Estate

Partners

LLC,

First

Lien,

CME

Term

Loan,

B2

,

7.046

%

,

(

3-month

SOFR

+

2.75

%

),

8/21/30

...........

United

States

124,182

124,647

Semiconductors

&

Semiconductor

Equipment

0.2%

k

MKS

Instruments,

Inc.,

First

Lien,

2025-1

Dollar

CME

Term

Loan,

B

,

6.322

%

,

(

1-month

SOFR

+

2

%

),

8/17/29

..............

United

States

656,704

659,248

k

Software

5.5%

Boxer

Parent

Co.,

Inc.,

First

Lien,

2031

Replacement

Dollar

CME

Term

Loan

,

7.333

%

,

(

3-month

SOFR

+

3

%

),

7/30/31

.......

United

States

997,500

992,448

Central

Parent

LLC,

First

Lien,

2024

Refinancing

CME

Term

Loan

,

7.546

%

,

(

3-month

SOFR

+

3.25

%

),

7/06/29

.........

United

States

1,244,803

1,042,584

Cloud

Software

Group,

Inc.,

First

Lien,

Incremental

CME

Term

Loan,

B

,

8.046

%

,

(

3-month

SOFR

+

3.75

%

),

3/21/31

.......

United

States

466,406

467,717

Cloudera,

Inc.,

First

Lien,

Initial

CME

Term

Loan

,

8.177

%

,

(

1-month

SOFR

+

3.75

%

),

10/09/28

....................

United

States

466,190

449,408

Clover

Holdings

2

LLC,

First

Lien,

Initial

CME

Term

Loan

,

8.307

%

,

(

3-month

SOFR

+

4

%

),

12/09/31

......................

United

States

316,706

317,596

ConnectWise

LLC,

First

Lien,

Initial

CME

Term

Loan

,

8.057

%

,

(

3-month

SOFR

+

3.5

%

),

9/29/28

......................

United

States

262,432

264,100

Cornerstone

OnDemand,

Inc.,

First

Lien,

Initial

CME

Term

Loan

,

8.191

%

,

(

1-month

SOFR

+

3.75

%

),

10/16/28

.............

United

States

633,734

596,306

DCert

Buyer,

Inc.,

First

Lien,

Initial

CME

Term

Loan

,

8.327

%

,

(

1-month

SOFR

+

4

%

),

10/16/26

......................

United

States

983,936

976,758

ECI

Macola/Max

Holding

LLC,

First

Lien,

CME

Term

Loan,

B

,

7.546

%

,

(

3-month

SOFR

+

3.25

%

),

5/09/30

..............

United

States

606,302

610,031

Epicor

Software

Corp.,

First

Lien,

CME

Term

Loan,

E

,

7.077

%

,

(

1-month

SOFR

+

2.75

%

),

5/30/31

.....................

United

States

1,242,391

1,246,951

Flexera

Software

LLC,

First

Lien,

CME

Term

Loan,

B3

,

7.31

%

,

(

3-month

SOFR

+

3

%

),

3/03/28

.......................

United

States

65,256

65,384

Genesys

Cloud

Services,

Inc.,

First

Lien,

2025

Dollar

CME

Term

Loan

,

9.327

%

,

(

1-month

SOFR

+

2.5

%

),

1/30/32

..........

United

States

1,296,418

1,297,676

IGT

Holding

IV

AB,

First

Lien,

CME

Term

Loan

,

7.796

%

,

(

3-month

SOFR

+

3.5

%

),

8/29/31

.............................

Sweden

509,570

513,391

Imprivata,

Inc.,

First

Lien,

2024

Refinancing

CME

Term

Loan

,

7.78

%

,

(

3-month

SOFR

+

3.5

%

),

12/01/27

...............

United

States

286,517

288,168

McAfee

Corp.,

First

Lien,

CME

Term

Loan,

B1

,

7.316

%

,

(

1-month

SOFR

+

3

%

),

3/01/29

...............................

United

States

1,238,780

1,205,618

Oceankey

US

II

Corp.,

First

Lien,

Initial

CME

Term

Loan

,

7.927

%

,

(

1-month

SOFR

+

3.5

%

),

12/15/28

.....................

United

States

298,458

299,428

Polaris

Newco

LLC,

First

Lien,

Dollar

CME

Term

Loan

,

8.291

%

,

(

3-month

SOFR

+

3.75

%

),

6/02/28

.....................

United

States

601,242

586,752

Project

Alpha

Intermediate

Holding,

Inc.,

First

Lien,

Second

Amendment

Refinancing

CME

Term

Loan

,

7.549

%

,

(

6-month

SOFR

+

3.25

%

),

10/28/30

...........................

United

States

818,617

823,394

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

28

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

j

Senior

Floating

Rate

Interests

(continued)

k

Software

(continued)

Project

Boost

Purchaser

LLC,

First

Lien,

Initial

CME

Term

Loan

,

7.296

%

,

(

3-month

SOFR

+

3

%

),

7/16/31

................

United

States

353,479

$

354,494

Proofpoint,

Inc.,

First

Lien,

CME

Term

Loan

,

7.327

%

,

(

1-month

SOFR

+

3

%

),

8/31/28

...............................

United

States

451,204

452,011

Rocket

Software,

Inc.,

First

Lien,

CME

Term

Loan

,

8.577

%

,

(

1-month

SOFR

+

4.25

%

),

11/28/28

....................

United

States

602,606

604,685

Sovos

Compliance

LLC,

First

Lien,

Amendment

No.

2

Replacement

CME

Term

Loan

,

8.327

%

,

(

1-month

SOFR

+

4

%

),

8/13/29

.........................................

United

States

613,073

616,819

UKG,

Inc.,

First

Lien,

Initial

CME

Term

Loan

,

7.311

%

,

(

1-month

SOFR

+

3

%

),

2/10/31

...............................

United

States

642,447

645,598

Zelis

Payments

Buyer,

Inc.,

First

Lien,

Amendment

No.

5

CME

Term

Loan

,

7.577

%

,

(

1-month

SOFR

+

3.25

%

),

11/26/31

....

United

States

467,450

465,598

15,182,915

a

a

a

a

a

a

k

Specialty

Retail

1.8%

Evergreen

Acqco

1

LP,

First

Lien,

Initial

CME

Term

Loan

,

8.052

%

,

(

3-month

SOFR

+

3.75

%

),

4/26/28

.....................

United

States

372,663

373,013

f

GNC

Holdings,

Inc.,

Second

Lien,

CME

Term

Loan

,

PIK,

10.427

%

,

(

1-month

SOFR

+

6

%

),

10/07/26

...............

United

States

110,102

74,870

Great

Outdoors

Group

LLC,

First

Lien,

CME

Term

Loan,

B

,

7.577

%

,

(

1-month

SOFR

+

3.25

%

),

1/23/32

..............

United

States

819,039

819,170

Michaels

Cos.,

Inc.

(The),

First

Lien,

CME

Term

Loan,

B

,

8.807

%

,

(

3-month

SOFR

+

4.25

%

),

4/17/28

.....................

United

States

979,682

823,545

Petco

Health

&

Wellness

Co.,

Inc.,

First

Lien,

Initial

CME

Term

Loan

,

7.807

%

,

(

3-month

SOFR

+

3.25

%

),

3/03/28

.........

United

States

500,000

461,920

PetSmart

LLC,

First

Lien,

Initial

CME

Term

Loan

,

8.177

%

,

(

1-month

SOFR

+

3.75

%

),

2/11/28

.....................

United

States

498,697

494,645

Queen

MergerCo,

Inc.,

First

Lien,

CME

Term

Loan,

B

,

7.28

%

,

(

3-month

SOFR

+

3

%

),

4/30/32

.......................

United

States

35,979

36,269

RealTruck

Group,

Inc.,

First

Lien,

Initial

CME

Term

Loan

,

8.191

%

,

(

1-month

SOFR

+

3.75

%

),

1/31/28

.....................

United

States

781,817

702,755

RelaDyne,

Inc.,

First

Lien,

CME

Term

Loan

,

8.327

%

,

(

1-month

SOFR

+

4

%

),

12/23/30

..............................

United

States

101,784

102,231

Specialty

Building

Products

Holdings

LLC,

First

Lien,

Initial

CME

Term

Loan

,

8.177

%

,

(

1-month

SOFR

+

3.75

%

),

10/16/28

....

United

States

266,484

255,325

White

Cap

Supply

Holdings

LLC,

First

Lien,

CME

Term

Loan,

C

,

7.577

%

,

(

1-month

SOFR

+

3.25

%

),

10/19/29

.............

United

States

673,429

670,779

4,814,522

a

a

a

a

a

a

k

Textiles,

Apparel

&

Luxury

Goods

0.6%

g

Beach

Acquisition

Bidco

LLC,

First

Lien,

CME

Term

Loan,

B

,

7.316

%

,

(

12-month

SOFR

+

3.25

%

),

6/25/32

.............

United

States

30,329

30,518

Flash

Charm,

Inc.,

First

Lien,

CME

Term

Loan,

B2

,

7.776

%

,

(

3-month

SOFR

+

3.5

%

),

3/02/28

......................

United

States

1,320,055

1,241,539

Varsity

Brands,

Inc.,

First

Lien,

CME

Term

Loan,

B

,

7.83

%

,

(

3-month

SOFR

+

3.5

%

),

8/26/31

......................

United

States

447,596

448,086

1,720,143

a

a

a

a

a

a

Trading

Companies

&

Distributors

0.2%

k

Foundation

Building

Materials,

Inc.,

First

Lien,

CME

Term

Loan

,

8.28

%

,

(

3-month

SOFR

+

4

%

),

1/29/31

.................

United

States

673,843

661,569

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

29

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

j

Senior

Floating

Rate

Interests

(continued)

Wireless

Telecommunication

Services

0.0%

†

k

Crown

Subsea

Communications

Holding,

Inc.,

First

Lien,

2024

Term

Loan

,

8.33

%

,

(

1-month

SOFR

+

4

%

),

1/30/31

........

United

States

128,342

$

129,332

Total

Senior

Floating

Rate

Interests

(Cost

$

118,017,878

)

.......................

114,938,897

m

Marketplace

Loans

18.0%

b

Financial

Services

18.0%

a

a

a

a

a

a

Total

Marketplace

Loans

(Cost

$

55,288,391

)

..................................

49,559,728

Asset-Backed

Securities

7.6%

Capital

Markets

0.0%

†

c

,k

Merrill

Lynch

Mortgage

Investors

Trust

,

2003-OPT1

,

B2

,

FRN

,

8.559

%

,

(

1-month

SOFR

+

4.239

%

),

7/25/34

.

.............

United

States

33,301

16,540

Financial

Services

7.6%

c

,d

,k

BlueMountain

CLO

XXVI

Ltd.

,

2019-26A

,

CR

,

144A,

FRN

,

6.731

%

,

(

3-month

SOFR

+

2.462

%

),

10/20/34

.

............

United

States

2,000,000

2,008,387

d

,k

BlueMountain

CLO

XXXI

Ltd.

,

2021-31A

,

D

,

144A,

FRN

,

7.531

%

,

(

3-month

SOFR

+

3.262

%

),

4/19/34

.

...................

United

States

1,000,000

1,004,961

d

,k

Carlyle

Global

Market

Strategies

CLO

Ltd.

,

2014-1A

,

CR2

,

144A,

FRN

,

6.341

%

,

(

3-month

SOFR

+

2.062

%

),

4/17/31

..................................

United

States

1,500,000

1,505,399

2014-1A

,

DR

,

144A,

FRN

,

7.141

%

,

(

3-month

SOFR

+

2.862

%

),

4/17/31

.........................................

United

States

2,300,000

2,300,523

d

,k

Carlyle

US

CLO

Ltd.

,

2017-2A

,

D1R2

,

144A,

FRN

,

7.819

%

,

(

3-month

SOFR

+

3.55

%

),

7/20/37

...................................

United

States

2,000,000

2,021,177

2019-1A

,

BR

,

144A,

FRN

,

6.731

%

,

(

3-month

SOFR

+

2.462

%

),

4/20/31

.........................................

United

States

1,500,000

1,508,750

d

,n

Consumer

Loan

Underlying

Bond

Certificate

Issuer

Trust

I

,

2019-51

,

PT

,

144A,

FRN

,

16.013

%

,

1/15/45

..............

United

States

1,026

941

2019-52

,

PT

,

144A,

FRN

,

16.268

%

,

1/15/45

..............

United

States

1,477

834

2020-2

,

PT

,

144A,

FRN

,

16.26

%

,

3/15/45

................

United

States

1,223

1,030

2020-7

,

PT

,

144A,

FRN

,

16.119

%

,

4/17/45

...............

United

States

900

590

d

,k

KKR

CLO

26

Ltd.

,

CR

,

144A,

FRN

,

6.718

%

,

(

3-month

SOFR

+

2.462

%

),

10/15/34

.

.................................

United

States

1,500,000

1,503,826

c

,k

Morgan

Stanley

ABS

Capital

I,

Inc.

Trust

,

2003-NC10

,

B1

,

FRN

,

9.384

%

,

(

1-month

SOFR

+

5.064

%

),

10/25/33

.

............

United

States

166,692

189,490

d

,k

Newark

BSL

CLO

1

Ltd.

,

2016-1A

,

CR

,

144A,

FRN

,

7.544

%

,

(

3-month

SOFR

+

3.262

%

),

12/21/29

.

..................

United

States

1,000,000

1,004,468

d

,k

Octagon

Investment

Partners

XXII

Ltd.

,

2014-1A

,

CRR

,

144A,

FRN

,

6.434

%

,

(

3-month

SOFR

+

2.162

%

),

1/22/30

.

........

United

States

6,050,000

6,075,631

c

,k

Structured

Asset

Investment

Loan

Trust

,

2003-BC2

,

M3

,

FRN

,

9.309

%

,

(

1-month

SOFR

+

4.989

%

),

4/25/33

.

.............

United

States

13,987

17,214

d

,k

Voya

CLO

Ltd.

,

2014-1A

,

BR2

,

144A,

FRN

,

6.431

%

,

(

3-month

SOFR

+

2.162

%

),

4/18/31

..................................

United

States

1,300,000

1,305,033

2014-1A

,

CR2

,

144A,

FRN

,

7.331

%

,

(

3-month

SOFR

+

3.062

%

),

4/18/31

..................................

United

States

500,000

502,393

20,950,647

a

a

a

a

a

a

Total

Asset-Backed

Securities

(Cost

$

20,521,791

)

.............................

20,967,187

Mortgage-Backed

Securities

14.9%

Federal

Home

Loan

Mortgage

Corp.

(FHLMC)

Fixed

Rate

0.9%

c

FHLMC

Gold

Pool,

20

Year

,

6.5

%,

8/01/27

................

United

States

13,754

14,223

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

30

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Mortgage-Backed

Securities

(continued)

Federal

Home

Loan

Mortgage

Corp.

(FHLMC)

Fixed

Rate

(continued)

c

FHLMC

Gold

Pool,

30

Year

,

3.5

%,

3/01/45

................

United

States

7,792

$

7,253

c

FHLMC

Gold

Pool,

30

Year

,

3.5

%,

12/01/48

...............

United

States

1,421,298

1,302,092

c

FHLMC

Gold

Pool,

30

Year

,

4

%,

5/01/48

..................

United

States

1,007,983

958,326

c

FHLMC

Gold

Pool,

30

Year

,

6

%,

7/01/28

-

11/01/36

..........

United

States

140,690

146,166

c

FHLMC

Gold

Pool,

30

Year

,

6.5

%,

3/01/38

................

United

States

5,050

5,300

c

FHLMC

Gold

Pool,

30

Year

,

7

%,

9/01/27

..................

United

States

5,692

6,008

c

FHLMC

Gold

Pool,

30

Year

,

8.5

%,

7/01/31

................

United

States

24,024

25,378

2,464,746

o

Federal

National

Mortgage

Association

(FNMA)

Adjustable

Rate

0.0%

†

FNMA

,

5.915

%,

(

6-month

Refinitiv

USD

IBOR

Consumer

Cash

Fallbacks

+/-

MBS

Margin),

6/01/32

....................

United

States

6,311

6,333

Federal

National

Mortgage

Association

(FNMA)

Fixed

Rate

7.1%

FNMA

,

3.5

%,

7/01/56

................................

United

States

336,688

302,970

c

FNMA,

15

Year

,

2

%,

9/01/35

...........................

United

States

651,400

599,277

c

FNMA,

15

Year

,

3

%,

8/01/27

...........................

United

States

960

944

c

FNMA,

15

Year

,

3.5

%,

1/01/26

.........................

United

States

478

475

c

FNMA,

20

Year

,

4.5

%,

9/01/29

.........................

United

States

6,797

6,791

c

FNMA,

30

Year

,

3

%,

10/01/50

..........................

United

States

2,195,055

1,920,770

c

FNMA,

30

Year

,

3.5

%,

1/01/45

-

6/01/45

..................

United

States

349,319

326,743

c

FNMA,

30

Year

,

4

%,

10/01/47

..........................

United

States

1,520,970

1,441,411

c

FNMA,

30

Year

,

4

%,

11/01/44

-

1/01/48

...................

United

States

464,408

440,583

c

FNMA,

30

Year

,

4.5

%,

3/01/44

.........................

United

States

567

555

c

FNMA,

30

Year

,

5

%,

5/01/38

-

7/01/39

....................

United

States

104,279

105,754

c

FNMA,

30

Year

,

5.5

%,

6/01/37

.........................

United

States

99,362

102,281

c

FNMA,

30

Year

,

5.5

%,

3/01/54

.........................

United

States

7,865,884

7,871,662

c

FNMA,

30

Year

,

6

%,

4/01/33

-

6/01/38

....................

United

States

225,349

235,611

c

FNMA,

30

Year

,

6.5

%,

8/01/32

.........................

United

States

29,824

31,232

p

Uniform

Mortgage-Backed

Securities

,

5.5

%

,

TBA,

7/25/55

.....

United

States

3,010,000

3,009,782

p

Uniform

Mortgage-Backed

Securities

,

6

%

,

TBA,

7/25/55

......

United

States

2,950,000

2,998,023

19,394,864

Government

National

Mortgage

Association

(GNMA)

Fixed

Rate

6.9%

c

GNMA

I,

Single-family,

30

Year

,

6.5

%,

6/15/31

-

12/15/33

......

United

States

119,734

124,341

c

GNMA

II,

Single-family,

30

Year

,

3.5

%,

12/20/49

............

United

States

579,564

529,363

p

GNMA

II,

Single-family,

30

Year

,

5.5

%,

7/15/55

.............

United

States

9,220,000

9,234,981

p

GNMA

II,

Single-family,

30

Year

,

6

%,

7/15/55

...............

United

States

9,060,000

9,195,173

c

GNMA

II,

Single-family,

30

Year

,

7

%,

1/20/29

...............

United

States

3,272

3,381

c

GNMA

II,

Single-family,

30

Year

,

8

%,

1/20/28

-

10/20/31

......

United

States

19,876

20,812

19,108,051

Total

Mortgage-Backed

Securities

(Cost

$

41,724,026

)

..........................

40,973,994

Municipal

Bonds

0.1%

Arizona

0.1%

d

Maricopa

County

Industrial

Development

Authority

,

Grand

Canyon

University

Obligated

Group

,

Revenue

,

144A,

2024

,

7.375

%

,

10/01/29

........................................

United

States

375,000

388,579

Total

Municipal

Bonds

(Cost

$

377,112

)

.......................................

388,579

Shares

a

Escrows

and

Litigation

Trusts

0.0%

a,b

Endo

GUC

Trust,

Escrow

Account

.......................

United

States

82,310

—

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

31

See

Abbreviations

on

page

134

.

a

a

Country

Shares

a

Value

a

a

a

a

a

a

Escrows

and

Litigation

Trusts

(continued)

a,b

Endo,

Inc.,

Escrow

Account

............................

United

States

703,000

$

—

Total

Escrows

and

Litigation

Trusts

(Cost

$

–

)

.................................

—

Total

Long

Term

Investments

(Cost

$

399,648,703

)

.............................

384,781,623

a

Short

Term

Investments

4.5%

a

a

Country

Shares

a

Value

a

a

a

a

a

a

Money

Market

Funds

4.5%

q,r

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio

,

4.332

%

..

United

States

12,390,728

12,390,728

Total

Money

Market

Funds

(Cost

$

12,390,728

)

................................

12,390,728

Total

Short

Term

Investments

(Cost

$

12,390,728

)

..............................

12,390,728

a

Total

Investments

(Cost

$

412,039,431

)

144.2

%

................................

$397,172,351

Reverse

Repurchase

Agreements

(

2.3

)

%

.....................................

(6,389,908)

s

Credit

Facility

(

35.4

)

%

......................................................

(97,500,000)

Other

Assets,

less

Liabilities

(

6.5

)

%

.........................................

(17,939,156)

Net

Assets

100.0%

.........................................................

$275,343,287

a

a

a

Amount

Borrowed

Payable

t

Reverse

Repurchase

Agreements

(2.3)%

Counterparty

UBS

AG

,

4.8

%

,

9/26/25

....................

$

840,962

$

(

841,523

)

Counterparty

UBS

AG

,

4.8

%

,

9/26/25

....................

979,275

(

979,928

)

Counterparty

UBS

AG

,

4.8

%

,

9/26/25

....................

1,080,790

(

1,081,510

)

Counterparty

UBS

AG

,

4.8

%

,

9/26/25

....................

39,273

(

39,299

)

Counterparty

UBS

AG

,

4.8

%

,

9/26/25

....................

347,798

(

348,029

)

Counterparty

UBS

AG

,

4.8

%

,

9/26/25

....................

415,530

(

415,807

)

Counterparty

UBS

AG

,

4.85

%

,

9/26/25

...................

495,466

(

495,800

)

Counterparty

UBS

AG

,

4.85

%

,

9/26/25

...................

998,490

(

999,163

)

Counterparty

UBS

AG

,

4.9

%

,

9/26/25

....................

290,710

(

290,908

)

Counterparty

UBS

AG

,

4.9

%

,

9/26/25

....................

518,685

(

519,038

)

Counterparty

UBS

AG

,

4.95

%

,

9/26/25

...................

378,643

(

378,903

)

Total

Reverse

Repurchase

Agreements

(Proceeds

$

(

6,385,622

)

)

................

$(6,389,908)

*

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

10

regarding

fair

value

measurements.

c

A

portion

or

all

of

the

security

is

pledged

as

collateral

in

connection

with

the

Fund’s

credit

facility.

d

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

June

30,

2025,

the

aggregate

value

of

these

securities

was

$168,835,517,

representing

61.3%

of

net

assets.

e

A

portion

or

all

of

the

security

is

designated

as

collateral

for

reverse

repurchase

agreements.

f

Income

may

be

received

in

additional

securities

and/or

cash.

g

A

portion

or

all

of

the

security

purchased

on

a

delayed

delivery

basis.

See

Note

1(c).

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

32

h

Defaulted

security

or

security

for

which

income

has

been

deemed

uncollectible.

See

Note

8.

i

The

rate

shown

represents

the

yield

at

period

end.

j

See

Note

1(e)

regarding

senior

floating

rate

interests.

k

The

coupon

rate

shown

represents

the

rate

inclusive

of

any

caps

or

floors,

if

applicable,

in

effect

at

period

end.

l

A

portion

or

all

of

the

security

represents

an

unsettled

loan

commitment.

The

coupon

rate

is

to-be

determined

(TBD)

at

the

time

of

the

settlement

and

will

be

based

upon

a

reference

index/floor

plus

a

spread.

m

See

Note

1(f)

regarding

Marketplace

Lending.

See

full

breakdown

of

marketplace

loans

holdings

in

the

table

at

the

end

of

this

schedule.

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.

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;

they

are

based

on

the

weighted

average

rates

of

the

underlying

mortgage

loans,

less

the

applicable

servicing

and

guarantee

fees

(MBS

margin).

p

Security

purchased

on

a

to-be-announced

(TBA)

basis.

See

Note

1(c).

q

See

Note

5(c)

regarding

investments

in

affiliated

management

investment

companies.

r

The

rate

shown

is

the

annualized

seven-day

effective

yield

at

period

end.

s

See

Note

3

regarding

credit

facility.

t

See

Note

4

regarding

reverse

repurchase

agreements.

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited),

June

30,

2025

Franklin

Limited

Duration

Income

Trust

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

33

At

June

30,

2025,

the

Fund

had

the

following

marketplace

loans

outstanding.

See

Note

1(f).

Description

Principal

Amount

Value

Marketplace

Loans

-

18.0%

Block,

Inc.

a

7449355.SQ.FTS.B

,

5

.181

%

,

7/30/25

....

$

635

$

316

a

7447921.SQ.FTS.B

,

5

.19

%

,

7/30/25

.....

1,895

490

7450427.SQ.FTS.B

,

5

.19

%

,

7/30/25

.....

6,225

2,520

a

7448609.SQ.FTS.B

,

5

.993

%

,

7/30/25

....

350

181

a

7452358.SQ.FTS.B

,

4

.645

%

,

7/31/25

....

835

484

7451728.SQ.FTS.B

,

4

.742

%

,

7/31/25

....

3,791

60

7456543.SQ.FTS.B

,

5

.189

%

,

8/01/25

....

3,459

805

7459778.SQ.FTS.B

,

5

.19

%

,

8/01/25

.....

10,884

3,318

a

7456319.SQ.FTS.B

,

5

.378

%

,

8/01/25

....

1,029

551

a

7461935.SQ.FTS.B

,

4

.654

%

,

8/02/25

....

670

462

a

7460306.SQ.FTS.B

,

5

.453

%

,

8/02/25

....

434

129

a

7461229.SQ.FTS.B

,

6

.416

%

,

8/02/25

....

1,052

558

a

7460506.SQ.FTS.B

,

6

.43

%

,

8/02/25

.....

860

125

a

7463365.SQ.FTS.B

,

5

.379

%

,

8/03/25

....

550

116

7463465.SQ.FTS.B

,

6

.009

%

,

8/03/25

....

9,525

236

a

7463702.SQ.FTS.B

,

5

.754

%

,

8/04/25

....

3,417

725

7464300.SQ.FTS.B

,

5

.755

%

,

8/04/25

....

463

141

7469386.SQ.FTS.B

,

5

.188

%

,

8/06/25

....

3,617

2,143

a

7470776.SQ.FTS.B

,

5

.371

%

,

8/06/25

....

303

224

a

7470408.SQ.FTS.B

,

6

.006

%

,

8/06/25

....

5,087

2,323

7472315.SQ.FTS.B

,

4

.739

%

,

8/07/25

....

610

11

7474257.SQ.FTS.B

,

5

.756

%

,

8/07/25

....

16,236

407

a

7471571.SQ.FTS.B

,

6

.016

%

,

8/07/25

....

142

94

7473548.SQ.FTS.B

,

6

.256

%

,

8/07/25

....

13,601

483

a

7476745.SQ.FTS.B

,

5

.189

%

,

8/08/25

....

1,119

577

a

7476692.SQ.FTS.B

,

5

.761

%

,

8/08/25

....

1,757

234

7486693.SQ.FTS.B

,

4

.743

%

,

8/12/25

....

1,539

42

a

7486245.SQ.FTS.B

,

5

.751

%

,

8/12/25

....

2,767

1,297

a

7486576.SQ.FTS.B

,

6

.252

%

,

8/12/25

....

146

63

7485874.SQ.FTS.B

,

6

.414

%

,

8/12/25

....

6,996

175

a

7490765.SQ.FTS.B

,

5

.377

%

,

8/13/25

....

3,521

2,255

a

7491258.SQ.FTS.B

,

5

.384

%

,

8/13/25

....

635

240

a

7490647.SQ.FTS.B

,

6

.157

%

,

8/13/25

....

1,353

278

7491010.SQ.FTS.B

,

6

.26

%

,

8/13/25

.....

5,510

111

7492570.SQ.FTS.B

,

6

.258

%

,

8/14/25

....

2,849

64

a

7503759.SQ.FTS.B

,

5

.568

%

,

8/15/25

....

1,921

849

a

7500385.SQ.FTS.B

,

5

.572

%

,

8/15/25

....

1,977

383

a

7503853.SQ.FTS.B

,

6

.007

%

,

8/15/25

....

5,726

3,168

a

7500335.SQ.FTS.B

,

6

.254

%

,

8/15/25

....

1,307

353

a

7505314.SQ.FTS.B

,

5

.371

%

,

8/16/25

....

68

45

7505871.SQ.FTS.B

,

5

.773

%

,

8/16/25

....

583

16

a

7506519.SQ.FTS.B

,

6

.023

%

,

8/16/25

....

439

157

7507909.SQ.FTS.B

,

6

.258

%

,

8/16/25

....

30,984

694

7508859.SQ.FTS.B

,

4

.939

%

,

8/17/25

....

1,621

66

7508979.SQ.FTS.B

,

5

.375

%

,

8/17/25

....

481

220

a

7509672.SQ.FTS.B

,

5

.481

%

,

8/17/25

....

446

61

a

7512125.SQ.FTS.B

,

4

.654

%

,

8/19/25

....

2,673

1,693

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

7513894.SQ.FTS.B

,

5

.19

%

,

8/20/25

.....

$

2,786

$

1,331

a

7513007.SQ.FTS.B

,

5

.374

%

,

8/20/25

....

305

177

7517983.SQ.FTS.B

,

4

.755

%

,

8/21/25

....

843

14

7519489.SQ.FTS.B

,

5

.382

%

,

8/21/25

....

3,156

54

7517921.SQ.FTS.B

,

6

%

,

8/21/25

.......

895

251

a

7516754.SQ.FTS.B

,

6

.015

%

,

8/21/25

....

782

141

7529446.SQ.FTS.B

,

4

.948

%

,

8/23/25

....

2,327

57

7528897.SQ.FTS.B

,

5

.44

%

,

8/23/25

.....

16,423

263

a

7529470.SQ.FTS.B

,

5

.753

%

,

8/23/25

....

9,979

1,757

a

7528166.SQ.FTS.B

,

5

.755

%

,

8/23/25

....

875

281

7529705.SQ.FTS.B

,

4

.937

%

,

8/24/25

....

9,719

386

a

7529827.SQ.FTS.B

,

6

.003

%

,

8/24/25

....

303

125

a

7531238.SQ.FTS.B

,

4

.934

%

,

8/25/25

....

1,340

649

7530909.SQ.FTS.B

,

5

.366

%

,

8/25/25

....

727

19

7534396.SQ.FTS.B

,

5

.738

%

,

8/26/25

....

985

40

a

7543385.SQ.FTS.B

,

5

.187

%

,

8/28/25

....

39

24

a

7540631.SQ.FTS.B

,

5

.466

%

,

8/28/25

....

78

45

a

7541534.SQ.FTS.B

,

6

.253

%

,

8/28/25

....

342

115

a

7541004.SQ.FTS.B

,

6

.276

%

,

8/28/25

....

232

154

7541290.SQ.FTS.B

,

6

.412

%

,

8/28/25

....

271

7

a

7547341.SQ.FTS.B

,

6

.28

%

,

8/29/25

.....

14

11

7547912.SQ.FTS.B

,

6

.413

%

,

8/29/25

....

3,516

93

a

7551202.SQ.FTS.B

,

4

.656

%

,

9/01/25

....

1,176

1,011

7550899.SQ.FTS.B

,

5

.19

%

,

9/01/25

.....

1,653

41

7550967.SQ.FTS.B

,

5

.375

%

,

9/01/25

....

3,825

143

7554320.SQ.FTS.B

,

5

.378

%

,

9/01/25

....

13,754

310

a

7552708.SQ.FTS.B

,

5

.751

%

,

9/01/25

....

601

327

a

7557240.SQ.FTS.B

,

4

.656

%

,

9/04/25

....

1,899

1,767

7559616.SQ.FTS.B

,

4

.745

%

,

9/04/25

....

985

17

a

7557081.SQ.FTS.B

,

4

.937

%

,

9/04/25

....

328

272

7556990.SQ.FTS.B

,

5

.377

%

,

9/04/25

....

5,545

2,284

a

7559058.SQ.FTS.B

,

6

.26

%

,

9/04/25

.....

3,737

1,517

a

7561072.SQ.FTS.B

,

5

.374

%

,

9/05/25

....

1,812

1,105

7564172.SQ.FTS.B

,

5

.383

%

,

9/05/25

....

3,515

774

a

7561998.SQ.FTS.B

,

5

.752

%

,

9/05/25

....

5

4

a

7565784.SQ.FTS.B

,

5

.193

%

,

9/06/25

....

725

600

a

7567904.SQ.FTS.B

,

6

.009

%

,

9/06/25

....

2,727

1,660

7565647.SQ.FTS.B

,

6

.246

%

,

9/06/25

....

1,102

444

7566801.SQ.FTS.B

,

6

.289

%

,

9/06/25

....

794

12

7568007.SQ.FTS.B

,

6

.418

%

,

9/06/25

....

838

329

7573584.SQ.FTS.B

,

4

.934

%

,

9/07/25

....

4,835

110

7573801.SQ.FTS.B

,

5

.567

%

,

9/07/25

....

14,773

538

7573203.SQ.FTS.B

,

5

.754

%

,

9/07/25

....

2,786

336

a

7573146.SQ.FTS.B

,

5

.757

%

,

9/07/25

....

2,043

664

a

7573987.SQ.FTS.B

,

6

.004

%

,

9/07/25

....

266

252

7574527.SQ.FTS.B

,

6

.416

%

,

9/07/25

....

12,073

146

a

7574775.SQ.FTS.B

,

4

.653

%

,

9/08/25

....

18,775

9,458

a

7576764.SQ.FTS.B

,

5

.181

%

,

9/08/25

....

467

376

7575766.SQ.FTS.B

,

5

.377

%

,

9/08/25

....

969

593

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

34

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

7578388.SQ.FTS.B

,

6

.263

%

,

9/08/25

....

$

562

$

223

a

7579197.SQ.FTS.B

,

5

.189

%

,

9/09/25

....

3,237

2,759

a

7578624.SQ.FTS.B

,

5

.439

%

,

9/09/25

....

1,065

252

a

7579146.SQ.FTS.B

,

6

.289

%

,

9/09/25

....

109

67

a

7581325.SQ.FTS.B

,

5

.56

%

,

9/11/25

.....

760

513

7581750.SQ.FTS.B

,

6

.435

%

,

9/11/25

....

681

17

7586080.SQ.FTS.B

,

4

.65

%

,

9/12/25

.....

6,134

176

a

7587725.SQ.FTS.B

,

4

.65

%

,

9/12/25

.....

212

207

7587307.SQ.FTS.B

,

4

.654

%

,

9/12/25

....

48,237

834

a

7587680.SQ.FTS.B

,

6

.252

%

,

9/12/25

....

586

308

7590174.SQ.FTS.B

,

5

.562

%

,

9/13/25

....

7,270

146

a

7590215.SQ.FTS.B

,

6

.012

%

,

9/13/25

....

1,841

575

a

7593263.SQ.FTS.B

,

5

.378

%

,

9/14/25

....

947

838

a

7598723.SQ.FTS.B

,

5

.372

%

,

9/15/25

....

792

608

a

7598765.SQ.FTS.B

,

6

.006

%

,

9/15/25

....

838

435

a

7600629.SQ.FTS.B

,

5

.563

%

,

9/16/25

....

3,898

1,504

a

7601034.SQ.FTS.B

,

5

.186

%

,

9/17/25

....

1,409

485

a

7601451.SQ.FTS.B

,

6

.006

%

,

9/17/25

....

1,012

571

a

7606561.SQ.FTS.B

,

4

.942

%

,

9/19/25

....

670

442

7608748.SQ.FTS.B

,

6

.007

%

,

9/19/25

....

30,329

628

7607003.SQ.FTS.B

,

6

.01

%

,

9/19/25

.....

1,790

42

a

7611385.SQ.FTS.B

,

5

.74

%

,

9/20/25

.....

629

235

7611097.SQ.FTS.B

,

6

.423

%

,

9/20/25

....

2,067

38

7616557.SQ.FTS.B

,

5

.189

%

,

9/21/25

....

11,359

281

7616489.SQ.FTS.B

,

6

.258

%

,

9/21/25

....

2,021

45

7617901.SQ.FTS.B

,

6

.261

%

,

9/21/25

....

2,981

63

a

7620074.SQ.FTS.B

,

4

.938

%

,

9/22/25

....

607

555

a

7619488.SQ.FTS.B

,

5

.189

%

,

9/22/25

....

621

256

a

7619705.SQ.FTS.B

,

5

.585

%

,

9/22/25

....

78

68

7621073.SQ.FTS.B

,

6

.007

%

,

9/22/25

....

26,672

393

a

7618964.SQ.FTS.B

,

6

.413

%

,

9/22/25

....

4,601

1,686

a

7621327.SQ.FTS.B

,

4

.94

%

,

9/23/25

.....

2,410

1,442

7621639.SQ.FTS.B

,

5

.198

%

,

9/23/25

....

1,826

64

a

7621653.SQ.FTS.B

,

5

.379

%

,

9/23/25

....

2,259

1,377

7621747.SQ.FTS.B

,

5

.758

%

,

9/23/25

....

3,270

37

a

7622472.SQ.FTS.B

,

6

.004

%

,

9/24/25

....

4,558

1,440

a

7624372.SQ.FTS.B

,

5

.183

%

,

9/25/25

....

2,710

942

a

7623536.SQ.FTS.B

,

6

.006

%

,

9/25/25

....

632

251

a

7627133.SQ.FTS.B

,

4

.654

%

,

9/26/25

....

5,918

4,221

a

7629516.SQ.FTS.B

,

4

.935

%

,

9/26/25

....

1,995

1,370

7628418.SQ.FTS.B

,

5

.567

%

,

9/26/25

....

10,448

204

7628146.SQ.FTS.B

,

5

.752

%

,

9/26/25

....

11,216

91

a

7629219.SQ.FTS.B

,

5

.755

%

,

9/26/25

....

5,377

2,712

a

7627124.SQ.FTS.B

,

5

.98

%

,

9/26/25

.....

102

77

a

7628496.SQ.FTS.B

,

6

.181

%

,

9/26/25

....

196

86

a

7633344.SQ.FTS.B

,

6

.009

%

,

9/27/25

....

1,027

641

a

7631559.SQ.FTS.B

,

6

.015

%

,

9/27/25

....

384

148

a

7639535.SQ.FTS.B

,

6

.011

%

,

9/28/25

....

1,990

1,072

7637405.SQ.FTS.B

,

6

.023

%

,

9/28/25

....

1,404

17

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

7635792.SQ.FTS.B

,

6

.179

%

,

9/28/25

....

$

840

$

241

7644598.SQ.FTS.B

,

5

.748

%

,

9/30/25

....

3,195

757

a

7645537.SQ.FTS.B

,

4

.777

%

,

10/01/25

...

1,010

783

a

7647787.SQ.FTS.B

,

4

.942

%

,

10/01/25

...

727

674

7646634.SQ.FTS.B

,

5

.446

%

,

10/01/25

...

1,503

24

7648665.SQ.FTS.B

,

5

.763

%

,

10/01/25

...

1,643

37

a

7647054.SQ.FTS.B

,

5

.916

%

,

10/01/25

...

997

348

a

7652755.SQ.FTS.B

,

4

.939

%

,

10/02/25

...

3,239

1,995

a

7653058.SQ.FTS.B

,

5

.095

%

,

10/02/25

...

16,004

11,699

a

7651704.SQ.FTS.B

,

5

.183

%

,

10/02/25

...

2,371

1,195

a

7649965.SQ.FTS.B

,

5

.186

%

,

10/02/25

...

606

592

a

7650606.SQ.FTS.B

,

5

.439

%

,

10/02/25

...

1,995

275

7656219.SQ.FTS.B

,

5

.19

%

,

10/03/25

....

11,080

327

7654737.SQ.FTS.B

,

5

.418

%

,

10/03/25

...

1,110

18

7655820.SQ.FTS.B

,

6

.255

%

,

10/03/25

...

1,640

26

a

7657393.SQ.FTS.B

,

6

.257

%

,

10/03/25

...

4,353

888

a

7662965.SQ.FTS.B

,

4

.936

%

,

10/04/25

...

2,708

2,334

a

7660940.SQ.FTS.B

,

5

.567

%

,

10/04/25

...

481

112

7661360.SQ.FTS.B

,

6

.414

%

,

10/04/25

...

544

195

7664538.SQ.FTS.B

,

5

.186

%

,

10/05/25

...

5,740

84

7667419.SQ.FTS.B

,

5

.189

%

,

10/05/25

...

4,894

151

a

7667909.SQ.FTS.B

,

5

.091

%

,

10/06/25

...

2,103

1,370

a

7679804.SQ.FTS.B

,

4

.936

%

,

10/10/25

...

1,477

1,402

a

7680219.SQ.FTS.B

,

5

.554

%

,

10/10/25

...

1,227

233

a

7682512.SQ.FTS.B

,

5

.758

%

,

10/11/25

...

32

28

a

7687306.SQ.FTS.B

,

4

.78

%

,

10/12/25

....

606

588

7688136.SQ.FTS.B

,

5

.188

%

,

10/12/25

...

14,991

309

a

7687797.SQ.FTS.B

,

5

.72

%

,

10/12/25

....

2,302

962

a

7690007.SQ.FTS.B

,

5

.193

%

,

10/13/25

...

1,194

962

a

7690094.SQ.FTS.B

,

5

.535

%

,

10/13/25

...

390

260

a

7690666.SQ.FTS.B

,

4

.779

%

,

10/14/25

...

1,062

1,005

7690899.SQ.FTS.B

,

5

.188

%

,

10/14/25

...

9,454

87

a

7692997.SQ.FTS.B

,

4

.94

%

,

10/15/25

....

1,311

1,159

a

7691305.SQ.FTS.B

,

5

.571

%

,

10/15/25

...

168

158

7695591.SQ.FTS.B

,

5

.911

%

,

10/16/25

...

5,123

2,277

a

7698491.SQ.FTS.B

,

4

.782

%

,

10/17/25

...

3,131

2,135

a

7700193.SQ.FTS.B

,

6

.499

%

,

10/17/25

...

201

140

a

7702418.SQ.FTS.B

,

5

.094

%

,

10/18/25

...

3,384

1,723

a

7701758.SQ.FTS.B

,

5

.735

%

,

10/18/25

...

528

445

7701859.SQ.FTS.B

,

5

.759

%

,

10/18/25

...

1,772

28

7704890.SQ.FTS.B

,

5

.377

%

,

10/19/25

...

228

78

a

7705537.SQ.FTS.B

,

6

.415

%

,

10/19/25

...

1,300

249

7707103.SQ.FTS.B

,

5

.536

%

,

10/20/25

...

20,365

431

a

7707363.SQ.FTS.B

,

4

.737

%

,

10/21/25

...

629

89

a

7708623.SQ.FTS.B

,

4

.778

%

,

10/22/25

...

1,042

991

a

7708690.SQ.FTS.B

,

6

.16

%

,

10/22/25

....

123

87

7712891.SQ.FTS.B

,

5

.563

%

,

10/23/25

...

3,823

78

7712462.SQ.FTS.B

,

6

.161

%

,

10/23/25

...

2,881

1,264

a

7714875.SQ.FTS.B

,

5

.094

%

,

10/24/25

...

130

123

7721764.SQ.FTS.B

,

5

.451

%

,

10/25/25

...

474

9

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

35

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

7722772.SQ.FTS.B

,

6

.165

%

,

10/25/25

...

$

6,815

$

2,267

a

7728570.SQ.FTS.B

,

4

.785

%

,

10/26/25

...

2,293

1,452

7724838.SQ.FTS.B

,

5

.095

%

,

10/26/25

...

22,645

467

a

7729422.SQ.FTS.B

,

5

.441

%

,

10/26/25

...

405

148

a

7729054.SQ.FTS.B

,

5

.532

%

,

10/26/25

...

1,322

810

a

7727853.SQ.FTS.B

,

5

.724

%

,

10/26/25

...

14,265

6,260

7729945.SQ.FTS.B

,

5

.911

%

,

10/26/25

...

1,229

25

a

7724819.SQ.FTS.B

,

5

.93

%

,

10/26/25

....

3

3

a

7732601.SQ.FTS.B

,

5

.914

%

,

10/28/25

...

1,353

519

a

7733817.SQ.FTS.B

,

5

.439

%

,

10/29/25

...

141

98

a

7736498.SQ.FTS.B

,

5

.911

%

,

10/29/25

...

8,039

3,115

7741215.SQ.FTS.B

,

5

.72

%

,

10/30/25

....

3,427

67

7745153.SQ.FTS.B

,

5

.35

%

,

11/01/25

....

3,659

83

a

7744334.SQ.FTS.B

,

6

.157

%

,

11/01/25

...

48

42

a

7745394.SQ.FTS.B

,

6

.159

%

,

11/01/25

...

774

328

7751173.SQ.FTS.B

,

6

.19

%

,

11/02/25

....

750

16

7756883.SQ.FTS.B

,

4

.779

%

,

11/03/25

...

16,501

423

a

7754769.SQ.FTS.B

,

5

.535

%

,

11/03/25

...

4,162

2,457

a

7758717.SQ.FTS.B

,

4

.784

%

,

11/04/25

...

1,933

1,118

a

7759521.SQ.FTS.B

,

5

.103

%

,

11/05/25

...

717

468

a

7759657.SQ.FTS.B

,

5

.337

%

,

11/05/25

...

1,252

733

a

7758755.SQ.FTS.B

,

5

.535

%

,

11/05/25

...

8,821

3,632

a

7759020.SQ.FTS.B

,

6

.165

%

,

11/05/25

...

1,278

578

a

7760303.SQ.FTS.B

,

5

.1

%

,

11/06/25

.....

1,275

967

7763292.SQ.FTS.B

,

5

.913

%

,

11/06/25

...

20,230

344

a

7764781.SQ.FTS.B

,

4

.782

%

,

11/07/25

...

731

695

a

7764885.SQ.FTS.B

,

5

.094

%

,

11/07/25

...

5,032

4,561

7767704.SQ.FTS.B

,

5

.912

%

,

11/07/25

...

11,327

3,543

a

7767072.SQ.FTS.B

,

6

.166

%

,

11/07/25

...

5,039

114

a

7768208.SQ.FTS.B

,

4

.78

%

,

11/08/25

....

30,398

17,761

a

7769253.SQ.FTS.B

,

4

.782

%

,

11/08/25

...

2,311

2,124

a

7770798.SQ.FTS.B

,

4

.782

%

,

11/08/25

...

1,903

1,789

a

7768065.SQ.FTS.B

,

5

.095

%

,

11/08/25

...

4,079

3,012

a

7769434.SQ.FTS.B

,

5

.715

%

,

11/08/25

...

993

681

a

7771253.SQ.FTS.B

,

5

.917

%

,

11/08/25

...

1,169

1,020

7768047.SQ.FTS.B

,

5

.93

%

,

11/08/25

....

477

144

a

7776396.SQ.FTS.B

,

4

.78

%

,

11/09/25

....

3,652

3,202

a

7776652.SQ.FTS.B

,

4

.78

%

,

11/09/25

....

3,878

2,567

7776805.SQ.FTS.B

,

4

.78

%

,

11/09/25

....

5,785

146

a

7775847.SQ.FTS.B

,

5

.099

%

,

11/09/25

...

127

125

a

7775071.SQ.FTS.B

,

5

.531

%

,

11/09/25

...

1,663

1,016

a

7774436.SQ.FTS.B

,

5

.532

%

,

11/09/25

...

1,386

1,156

a

7776077.SQ.FTS.B

,

5

.723

%

,

11/09/25

...

3,000

1,657

a

7774319.SQ.FTS.B

,

6

.154

%

,

11/09/25

...

787

249

a

7774335.SQ.FTS.B

,

6

.165

%

,

11/09/25

...

3,895

1,689

a

7780337.SQ.FTS.B

,

4

.742

%

,

11/10/25

...

1,133

283

a

7780702.SQ.FTS.B

,

4

.777

%

,

11/10/25

...

2,163

1,223

a

7780421.SQ.FTS.B

,

5

.093

%

,

11/10/25

...

10,941

5,369

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

7779095.SQ.FTS.B

,

5

.1

%

,

11/10/25

.....

$

135

$

133

a

7778601.SQ.FTS.B

,

5

.339

%

,

11/10/25

...

532

477

7781198.SQ.FTS.B

,

6

.159

%

,

11/10/25

...

4,074

63

a

7781650.SQ.FTS.B

,

5

.091

%

,

11/11/25

...

2,460

1,405

a

7782471.SQ.FTS.B

,

5

.352

%

,

11/11/25

...

562

455

7786987.SQ.FTS.B

,

4

.749

%

,

11/13/25

...

31,649

11,064

a

7784057.SQ.FTS.B

,

4

.782

%

,

11/13/25

...

526

469

a

7786287.SQ.FTS.B

,

5

.346

%

,

11/13/25

...

3,065

2,513

a

7785197.SQ.FTS.B

,

5

.354

%

,

11/13/25

...

479

385

a

7785232.SQ.FTS.B

,

6

.154

%

,

11/13/25

...

301

73

a

7788534.SQ.FTS.B

,

4

.767

%

,

11/14/25

...

557

496

a

7791269.SQ.FTS.B

,

4

.787

%

,

11/14/25

...

1,376

902

a

7789582.SQ.FTS.B

,

5

.094

%

,

11/14/25

...

12,382

8,033

a

7788590.SQ.FTS.B

,

5

.1

%

,

11/14/25

.....

2,432

1,009

a

7790794.SQ.FTS.B

,

6

.157

%

,

11/14/25

...

253

94

a

7788186.SQ.FTS.B

,

6

.163

%

,

11/14/25

...

816

576

a

7790836.SQ.FTS.B

,

6

.164

%

,

11/14/25

...

476

435

a

7794656.SQ.FTS.B

,

4

.749

%

,

11/15/25

...

365

129

a

7794931.SQ.FTS.B

,

4

.78

%

,

11/15/25

....

7,746

4,672

a

7794684.SQ.FTS.B

,

5

.413

%

,

11/15/25

...

241

93

7795103.SQ.FTS.B

,

5

.437

%

,

11/15/25

...

5,594

86

a

7793344.SQ.FTS.B

,

5

.911

%

,

11/15/25

...

2,283

2,041

a

7793729.SQ.FTS.B

,

5

.916

%

,

11/15/25

...

775

669

7798166.SQ.FTS.B

,

5

.911

%

,

11/16/25

...

20,551

279

a

7803525.SQ.FTS.B

,

5

.344

%

,

11/17/25

...

3,578

2,138

7800873.SQ.FTS.B

,

5

.724

%

,

11/17/25

...

4,779

86

a

7803040.SQ.FTS.B

,

5

.909

%

,

11/17/25

...

93

82

a

7805048.SQ.FTS.B

,

5

.44

%

,

11/19/25

....

504

171

7808380.SQ.FTS.B

,

5

.914

%

,

11/20/25

...

6,558

83

7806075.SQ.FTS.B

,

5

.918

%

,

11/20/25

...

1,058

20

a

7811542.SQ.FTS.B

,

4

.73

%

,

11/21/25

....

242

60

a

7811481.SQ.FTS.B

,

4

.775

%

,

11/21/25

...

2,873

1,718

a

7810965.SQ.FTS.B

,

4

.778

%

,

11/21/25

...

1,884

1,596

a

7811168.SQ.FTS.B

,

4

.786

%

,

11/21/25

....

1,126

933

a

7812963.SQ.FTS.B

,

5

.094

%

,

11/21/25

...

534

487

a

7810845.SQ.FTS.B

,

5

.103

%

,

11/21/25

...

1,951

758

a

7810923.SQ.FTS.B

,

6

.149

%

,

11/21/25

...

1,037

315

7811729.SQ.FTS.B

,

6

.168

%

,

11/21/25

...

1,139

21

a

7815440.SQ.FTS.B

,

4

.779

%

,

11/22/25

...

2,423

2,267

a

7814352.SQ.FTS.B

,

5

.098

%

,

11/22/25

...

3,498

2,029

a

7815586.SQ.FTS.B

,

5

.535

%

,

11/22/25

...

3,083

1,032

a

7823332.SQ.FTS.B

,

4

.752

%

,

11/23/25

...

274

220

a

7823385.SQ.FTS.B

,

5

.097

%

,

11/23/25

...

3,595

2,800

7822522.SQ.FTS.B

,

5

.536

%

,

11/23/25

...

18,694

396

a

7825506.SQ.FTS.B

,

4

.778

%

,

11/24/25

...

1,069

1,052

a

7828343.SQ.FTS.B

,

5

.096

%

,

11/24/25

...

2,771

1,249

a

7827355.SQ.FTS.B

,

5

.536

%

,

11/24/25

...

8,618

5,685

a

7825444.SQ.FTS.B

,

6

.164

%

,

11/24/25

...

275

98

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

36

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

7830269.SQ.FTS.B

,

5

.535

%

,

11/25/25

...

$

460

$

354

a

7829488.SQ.FTS.B

,

5

.907

%

,

11/25/25

...

2,388

510

a

7830557.SQ.FTS.B

,

5

.1

%

,

11/26/25

.....

281

271

7830760.SQ.FTS.B

,

5

.436

%

,

11/26/25

...

6,382

1,017

a

7831200.SQ.FTS.B

,

5

.902

%

,

11/26/25

...

633

220

a

7832147.SQ.FTS.B

,

4

.789

%

,

11/27/25

...

780

748

a

7833003.SQ.FTS.B

,

4

.735

%

,

11/28/25

...

86

66

a

7840053.SQ.FTS.B

,

5

.095

%

,

11/29/25

...

377

372

a

7837878.SQ.FTS.B

,

5

.535

%

,

11/29/25

...

883

766

a

7836439.SQ.FTS.B

,

5

.723

%

,

11/29/25

...

3,755

2,990

a

7845604.SQ.FTS.B

,

4

.78

%

,

11/30/25

....

3,641

2,954

7847120.SQ.FTS.B

,

4

.78

%

,

11/30/25

....

15,845

329

a

7848081.SQ.FTS.B

,

4

.78

%

,

11/30/25

....

2,167

2,040

a

7849196.SQ.FTS.B

,

4

.78

%

,

11/30/25

....

379

31

a

7848556.SQ.FTS.B

,

5

.092

%

,

11/30/25

...

4,437

3,163

a

7842626.SQ.FTS.B

,

5

.102

%

,

11/30/25

...

1,359

1,081

7843814.SQ.FTS.B

,

5

.435

%

,

11/30/25

...

1,608

25

a

7850077.SQ.FTS.B

,

5

.725

%

,

11/30/25

...

184

179

a

7849316.SQ.FTS.B

,

6

.154

%

,

11/30/25

...

415

224

a

7842506.SQ.FTS.B

,

6

.164

%

,

11/30/25

...

3,012

969

7845896.SQ.FTS.B

,

6

.171

%

,

11/30/25

...

2,769

41

a

7845917.SQ.FTS.B

,

6

.289

%

,

11/30/25

...

1,411

833

7851862.SQ.FTS.B

,

5

.444

%

,

12/02/25

...

1,437

30

a

7856504.SQ.FTS.B

,

5

.089

%

,

12/03/25

...

2,839

1,448

7853962.SQ.FTS.B

,

5

.094

%

,

12/03/25

...

30,459

745

a

7855254.SQ.FTS.B

,

6

.477

%

,

12/03/25

...

1,183

189

7859113.SQ.FTS.B

,

4

.781

%

,

12/04/25

...

11,318

5,265

a

7860462.SQ.FTS.B

,

5

.347

%

,

12/04/25

...

4,552

3,965

a

7856808.SQ.FTS.B

,

5

.717

%

,

12/04/25

...

1,509

624

7857831.SQ.FTS.B

,

5

.725

%

,

12/04/25

...

16,733

206

7863722.SQ.FTS.B

,

4

.743

%

,

12/05/25

...

926

12

a

7862394.SQ.FTS.B

,

4

.749

%

,

12/05/25

...

651

148

a

7863127.SQ.FTS.B

,

4

.762

%

,

12/05/25

...

296

93

a

7863207.SQ.FTS.B

,

4

.78

%

,

12/05/25

....

16,955

14,859

a

7861753.SQ.FTS.B

,

5

.093

%

,

12/05/25

...

1,738

836

a

7862669.SQ.FTS.B

,

5

.099

%

,

12/05/25

...

1,306

1,241

7864315.SQ.FTS.B

,

5

.915

%

,

12/05/25

...

7,642

145

7862243.SQ.FTS.B

,

6

.152

%

,

12/05/25

...

914

222

7863145.SQ.FTS.B

,

6

.164

%

,

12/05/25

...

7,323

107

7866713.SQ.FTS.B

,

4

.782

%

,

12/06/25

...

5,812

2,030

a

7868495.SQ.FTS.B

,

4

.782

%

,

12/06/25

...

117

116

a

7868442.SQ.FTS.B

,

5

.09

%

,

12/06/25

....

2,341

784

a

7868421.SQ.FTS.B

,

6

.157

%

,

12/06/25

...

614

439

a

7870431.SQ.FTS.B

,

4

.787

%

,

12/07/25

...

854

814

a

7872545.SQ.FTS.B

,

5

.093

%

,

12/07/25

...

2,125

1,784

a

7871259.SQ.FTS.B

,

5

.095

%

,

12/07/25

...

2,063

1,965

a

7873261.SQ.FTS.B

,

5

.912

%

,

12/07/25

...

900

768

a

7873340.SQ.FTS.B

,

5

.919

%

,

12/07/25

...

303

257

7873355.SQ.FTS.B

,

6

.155

%

,

12/07/25

...

734

250

Description

Principal

Amount

Value

Block,

Inc.

(continued)

7873369.SQ.FTS.B

,

6

.163

%

,

12/07/25

...

$

13,098

$

3,128

a

7874480.SQ.FTS.B

,

5

.112

%

,

12/08/25

...

1,064

321

7875047.SQ.FTS.B

,

4

.757

%

,

12/09/25

...

313

5

a

7875148.SQ.FTS.B

,

5

.092

%

,

12/09/25

...

6,684

4,001

a

7875406.SQ.FTS.B

,

5

.094

%

,

12/09/25

...

18,592

8,902

a

7875019.SQ.FTS.B

,

6

.172

%

,

12/09/25

...

418

288

a

7876335.SQ.FTS.B

,

5

.917

%

,

12/10/25

...

2,504

1,216

a

7880873.SQ.FTS.B

,

4

.78

%

,

12/11/25

....

446

444

a

7880764.SQ.FTS.B

,

4

.782

%

,

12/11/25

...

2,174

1,549

a

7882746.SQ.FTS.B

,

5

.535

%

,

12/11/25

...

10,532

3,637

a

7883766.SQ.FTS.B

,

4

.779

%

,

12/12/25

...

4,710

4,640

a

7886338.SQ.FTS.B

,

4

.78

%

,

12/12/25

....

5,114

4,684

a

7885885.SQ.FTS.B

,

5

.352

%

,

12/12/25

...

495

453

a

7885718.SQ.FTS.B

,

5

.446

%

,

12/12/25

...

398

154

7884915.SQ.FTS.B

,

6

.152

%

,

12/12/25

...

1,897

445

a

7886136.SQ.FTS.B

,

6

.164

%

,

12/12/25

...

3,882

1,788

7885751.SQ.FTS.B

,

6

.479

%

,

12/12/25

...

4,172

89

a

7890022.SQ.FTS.B

,

4

.78

%

,

12/13/25

....

4,915

3,502

a

7890889.SQ.FTS.B

,

5

.725

%

,

12/13/25

...

1,337

1,271

7892822.SQ.FTS.B

,

5

.913

%

,

12/13/25

...

7,563

106

a

7895735.SQ.FTS.B

,

4

.78

%

,

12/14/25

....

8,604

7,923

a

7895485.SQ.FTS.B

,

5

.922

%

,

12/14/25

...

171

157

a

7894179.SQ.FTS.B

,

6

.169

%

,

12/14/25

...

1,273

933

a

7899030.SQ.FTS.B

,

4

.785

%

,

12/15/25

...

196

192

a

7899105.SQ.FTS.B

,

5

.1

%

,

12/15/25

.....

2,066

1,378

a

7899376.SQ.FTS.B

,

5

.105

%

,

12/15/25

...

1,219

736

a

7899417.SQ.FTS.B

,

5

.346

%

,

12/15/25

...

4,887

3,091

a

7899924.SQ.FTS.B

,

4

.783

%

,

12/16/25

...

1,431

971

7900212.SQ.FTS.B

,

5

.902

%

,

12/16/25

...

1,559

624

a

7899808.SQ.FTS.B

,

6

.172

%

,

12/16/25

...

1,094

328

a

7901473.SQ.FTS.B

,

5

.907

%

,

12/17/25

...

942

697

a

7906676.SQ.FTS.B

,

5

.346

%

,

12/18/25

...

9,752

9,056

a

7907550.SQ.FTS.B

,

5

.726

%

,

12/18/25

...

3,575

3,147

a

7905396.SQ.FTS.B

,

6

.161

%

,

12/18/25

...

6,605

1,268

a

7905160.SQ.FTS.B

,

6

.166

%

,

12/18/25

...

3,807

2,954

a

7909998.SQ.FTS.B

,

4

.749

%

,

12/19/25

...

870

130

a

7910262.SQ.FTS.B

,

4

.78

%

,

12/19/25

....

2,113

2,084

a

7910464.SQ.FTS.B

,

5

.535

%

,

12/19/25

...

15,677

12,834

a

7911086.SQ.FTS.B

,

6

.289

%

,

12/19/25

...

11,134

3,787

a

7914780.SQ.FTS.B

,

4

.737

%

,

12/20/25

...

975

286

a

7912587.SQ.FTS.B

,

4

.781

%

,

12/20/25

...

7,463

5,480

7914364.SQ.FTS.B

,

5

.437

%

,

12/20/25

...

3,173

52

a

7912563.SQ.FTS.B

,

5

.922

%

,

12/20/25

...

128

110

a

7914903.SQ.FTS.B

,

4

.752

%

,

12/21/25

...

1,118

531

a

7917398.SQ.FTS.B

,

5

.535

%

,

12/21/25

...

7,294

7,133

a

7919480.SQ.FTS.B

,

4

.78

%

,

12/22/25

....

415

400

a

7919065.SQ.FTS.B

,

5

.349

%

,

12/22/25

...

3,347

2,793

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

37

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

7919161.SQ.FTS.B

,

5

.444

%

,

12/22/25

...

$

3,545

$

1,064

a

7922062.SQ.FTS.B

,

5

.535

%

,

12/24/25

...

8,047

3,250

a

7923341.SQ.FTS.B

,

5

.535

%

,

12/24/25

...

360

343

a

7922596.SQ.FTS.B

,

5

.909

%

,

12/24/25

...

2,599

901

a

7926526.SQ.FTS.B

,

4

.732

%

,

12/25/25

...

272

137

a

7926059.SQ.FTS.B

,

4

.78

%

,

12/25/25

....

1,976

1,952

a

7925941.SQ.FTS.B

,

5

.096

%

,

12/25/25

...

1,328

1,172

a

7927972.SQ.FTS.B

,

5

.344

%

,

12/25/25

...

904

861

a

7925997.SQ.FTS.B

,

6

.164

%

,

12/25/25

...

547

268

7929408.SQ.FTS.B

,

4

.737

%

,

12/26/25

...

1,614

19

7928943.SQ.FTS.B

,

4

.748

%

,

12/26/25

...

1,019

197

a

7931051.SQ.FTS.B

,

4

.779

%

,

12/26/25

...

3,223

1,692

a

7929539.SQ.FTS.B

,

5

.533

%

,

12/26/25

...

6,025

4,241

7930838.SQ.FTS.B

,

5

.723

%

,

12/26/25

...

11,252

250

a

7938098.SQ.FTS.B

,

4

.775

%

,

12/27/25

...

987

956

a

7937373.SQ.FTS.B

,

5

.351

%

,

12/27/25

...

1,700

1,323

a

7936788.SQ.FTS.B

,

5

.435

%

,

12/27/25

...

151

123

a

7937661.SQ.FTS.B

,

5

.906

%

,

12/27/25

...

593

547

7937726.SQ.FTS.B

,

6

.164

%

,

12/27/25

...

8,353

223

a

7939562.SQ.FTS.B

,

4

.78

%

,

12/28/25

....

46,500

33,181

a

7941669.SQ.FTS.B

,

4

.781

%

,

12/28/25

...

18,074

12,039

a

7939386.SQ.FTS.B

,

4

.782

%

,

12/28/25

...

511

502

a

7938632.SQ.FTS.B

,

5

.734

%

,

12/28/25

...

641

580

a

7938163.SQ.FTS.B

,

5

.904

%

,

12/28/25

...

1,090

831

7942127.SQ.FTS.B

,

5

.535

%

,

12/29/25

...

8,564

222

a

7941868.SQ.FTS.B

,

5

.543

%

,

12/29/25

...

966

795

7943276.SQ.FTS.B

,

4

.735

%

,

12/30/25

...

39

29

a

7943738.SQ.FTS.B

,

5

.092

%

,

12/30/25

...

852

822

a

7943724.SQ.FTS.B

,

6

.278

%

,

12/30/25

...

293

192

a

7944750.SQ.FTS.B

,

4

.775

%

,

1/01/26

....

2,206

1,959

a

7944960.SQ.FTS.B

,

4

.777

%

,

1/01/26

....

892

885

7944001.SQ.FTS.B

,

5

.346

%

,

1/01/26

....

4,384

110

a

7947682.SQ.FTS.B

,

5

.35

%

,

1/01/26

.....

1,637

660

a

7945393.SQ.FTS.B

,

6

.479

%

,

1/01/26

....

1,611

548

a

7950354.SQ.FTS.B

,

5

.099

%

,

1/02/26

....

129

128

a

7949413.SQ.FTS.B

,

6

.163

%

,

1/02/26

....

25,989

17,059

a

7951839.SQ.FTS.B

,

6

.279

%

,

1/02/26

....

645

438

7955576.SQ.FTS.B

,

4

.769

%

,

1/03/26

....

661

153

a

7956716.SQ.FTS.B

,

4

.78

%

,

1/03/26

.....

11,008

10,242

a

7957305.SQ.FTS.B

,

5

.094

%

,

1/03/26

....

14,519

13,789

a

7955210.SQ.FTS.B

,

5

.354

%

,

1/03/26

....

237

234

7958110.SQ.FTS.B

,

6

.164

%

,

1/03/26

....

7,758

171

a

7959302.SQ.FTS.B

,

4

.749

%

,

1/04/26

....

3,486

763

a

7959660.SQ.FTS.B

,

5

.345

%

,

1/04/26

....

541

539

a

7959372.SQ.FTS.B

,

5

.355

%

,

1/04/26

....

1,164

1,003

a

7959418.SQ.FTS.B

,

5

.715

%

,

1/04/26

....

2,183

1,102

a

7962368.SQ.FTS.B

,

4

.743

%

,

1/05/26

....

1,859

479

a

7961282.SQ.FTS.B

,

4

.781

%

,

1/05/26

....

12,643

5,298

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

7961204.SQ.FTS.B

,

4

.782

%

,

1/05/26

....

$

1,235

$

1,146

a

7961559.SQ.FTS.B

,

4

.787

%

,

1/05/26

....

361

358

a

7961684.SQ.FTS.B

,

5

.094

%

,

1/05/26

....

56

56

a

7962755.SQ.FTS.B

,

5

.098

%

,

1/05/26

....

2,118

1,745

a

7961107.SQ.FTS.B

,

5

.913

%

,

1/05/26

....

2,089

1,616

a

7959962.SQ.FTS.B

,

6

.165

%

,

1/05/26

....

12,211

4,246

a

7964047.SQ.FTS.B

,

4

.78

%

,

1/06/26

.....

8,615

5,016

a

7963628.SQ.FTS.B

,

5

.358

%

,

1/06/26

....

46

46

a

7963660.SQ.FTS.B

,

5

.714

%

,

1/06/26

....

418

380

a

7963986.SQ.FTS.B

,

6

.162

%

,

1/06/26

....

2,113

1,345

a

7964426.SQ.FTS.B

,

5

.088

%

,

1/07/26

....

3,123

857

a

7964666.SQ.FTS.B

,

5

.094

%

,

1/07/26

....

10,220

9,033

a

7964521.SQ.FTS.B

,

5

.1

%

,

1/07/26

......

1,635

1,060

a

7964214.SQ.FTS.B

,

5

.722

%

,

1/07/26

....

69

62

a

7969951.SQ.FTS.B

,

4

.78

%

,

1/09/26

.....

1,155

1,130

a

7970053.SQ.FTS.B

,

4

.78

%

,

1/09/26

.....

324

321

a

7971417.SQ.FTS.B

,

4

.78

%

,

1/09/26

.....

10,635

10,140

a

7969108.SQ.FTS.B

,

6

.164

%

,

1/09/26

....

1,567

1,460

7972214.SQ.FTS.B

,

4

.782

%

,

1/10/26

....

6,798

2,711

7974222.SQ.FTS.B

,

5

.731

%

,

1/10/26

....

780

17

a

7973285.SQ.FTS.B

,

5

.911

%

,

1/10/26

....

6,492

3,973

a

7973186.SQ.FTS.B

,

6

.154

%

,

1/10/26

....

475

389

a

7972649.SQ.FTS.B

,

6

.478

%

,

1/10/26

....

3,641

1,698

a

7978084.SQ.FTS.B

,

4

.772

%

,

1/11/26

....

298

148

a

7979582.SQ.FTS.B

,

4

.779

%

,

1/11/26

....

2,684

1,573

a

7977234.SQ.FTS.B

,

4

.78

%

,

1/11/26

.....

347

345

a

7977713.SQ.FTS.B

,

5

.348

%

,

1/11/26

....

3,158

2,900

a

7977299.SQ.FTS.B

,

5

.545

%

,

1/11/26

....

1,279

761

a

7980125.SQ.FTS.B

,

6

.165

%

,

1/11/26

....

2,235

1,571

a

7982139.SQ.FTS.B

,

4

.78

%

,

1/12/26

.....

2,640

2,581

a

7983720.SQ.FTS.B

,

4

.78

%

,

1/12/26

.....

10,689

9,756

a

7983443.SQ.FTS.B

,

5

.094

%

,

1/12/26

....

20,225

10,934

a

7982373.SQ.FTS.B

,

5

.346

%

,

1/12/26

....

30,230

16,829

a

7981740.SQ.FTS.B

,

5

.535

%

,

1/12/26

....

11,361

5,316

a

7980834.SQ.FTS.B

,

5

.913

%

,

1/12/26

....

770

540

a

7983120.SQ.FTS.B

,

5

.913

%

,

1/12/26

....

472

426

a

7984567.SQ.FTS.B

,

4

.79

%

,

1/13/26

.....

142

141

a

7984647.SQ.FTS.B

,

5

.912

%

,

1/13/26

....

9,058

6,072

a

7985075.SQ.FTS.B

,

4

.78

%

,

1/14/26

.....

667

659

a

7985579.SQ.FTS.B

,

4

.78

%

,

1/14/26

.....

502

499

a

7985149.SQ.FTS.B

,

5

.44

%

,

1/14/26

.....

617

336

a

7989506.SQ.FTS.B

,

4

.777

%

,

1/15/26

....

2,431

2,339

a

7987815.SQ.FTS.B

,

4

.78

%

,

1/15/26

.....

5,512

5,405

a

7988735.SQ.FTS.B

,

4

.78

%

,

1/15/26

.....

494

483

7988493.SQ.FTS.B

,

6

.175

%

,

1/15/26

....

1,524

28

7990968.SQ.FTS.B

,

4

.748

%

,

1/16/26

....

8,874

193

a

7991206.SQ.FTS.B

,

5

.54

%

,

1/16/26

.....

327

319

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

38

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

7991968.SQ.FTS.B

,

5

.915

%

,

1/16/26

....

$

2,711

$

39

a

7990193.SQ.FTS.B

,

5

.919

%

,

1/16/26

....

642

557

a

7989924.SQ.FTS.B

,

6

.157

%

,

1/16/26

....

1,306

569

7992014.SQ.FTS.B

,

6

.167

%

,

1/16/26

....

5,321

105

7993140.SQ.FTS.B

,

6

.289

%

,

1/16/26

....

5,681

1,155

8000796.SQ.FTS.B

,

4

.757

%

,

1/17/26

....

1,675

22

8000433.SQ.FTS.B

,

4

.773

%

,

1/17/26

....

1,067

14

a

7994510.SQ.FTS.B

,

4

.777

%

,

1/17/26

....

1,348

1,315

a

7994356.SQ.FTS.B

,

4

.786

%

,

1/17/26

....

1,869

1,543

a

7993572.SQ.FTS.B

,

5

.092

%

,

1/17/26

....

1,362

1,347

a

8000442.SQ.FTS.B

,

5

.095

%

,

1/17/26

....

3,151

3,127

a

7994012.SQ.FTS.B

,

5

.425

%

,

1/17/26

....

76

66

a

8003084.SQ.FTS.B

,

4

.717

%

,

1/18/26

....

331

121

a

8003707.SQ.FTS.B

,

4

.776

%

,

1/18/26

....

88

88

a

8006138.SQ.FTS.B

,

4

.787

%

,

1/18/26

....

1,590

1,203

a

8005173.SQ.FTS.B

,

5

.352

%

,

1/18/26

....

1,973

1,446

8005029.SQ.FTS.B

,

5

.911

%

,

1/18/26

....

10,934

272

a

8005199.SQ.FTS.B

,

6

.164

%

,

1/18/26

....

3,930

916

a

8005110.SQ.FTS.B

,

6

.184

%

,

1/18/26

....

451

245

a

8007842.SQ.FTS.B

,

4

.724

%

,

1/19/26

....

438

171

a

8007844.SQ.FTS.B

,

4

.751

%

,

1/19/26

....

2,161

933

a

8007480.SQ.FTS.B

,

5

.09

%

,

1/19/26

.....

773

724

a

8007082.SQ.FTS.B

,

5

.334

%

,

1/19/26

....

496

412

a

8008215.SQ.FTS.B

,

5

.535

%

,

1/19/26

....

13,300

9,018

a

8009235.SQ.FTS.B

,

5

.909

%

,

1/19/26

....

1,466

1,279

a

8010640.SQ.FTS.B

,

5

.094

%

,

1/21/26

....

1,402

1,290

a

8010702.SQ.FTS.B

,

5

.099

%

,

1/21/26

....

1,033

993

a

8011467.SQ.FTS.B

,

5

.904

%

,

1/21/26

....

642

588

a

8014711.SQ.FTS.B

,

4

.779

%

,

1/22/26

....

3,057

3,010

8012289.SQ.FTS.B

,

5

.093

%

,

1/22/26

....

8,215

100

a

8014032.SQ.FTS.B

,

5

.094

%

,

1/22/26

....

4,323

1,768

a

8012919.SQ.FTS.B

,

5

.095

%

,

1/22/26

....

15,722

13,060

a

8013594.SQ.FTS.B

,

5

.103

%

,

1/22/26

....

345

342

a

8013674.SQ.FTS.B

,

5

.346

%

,

1/22/26

....

4,076

3,595

a

8013835.SQ.FTS.B

,

5

.349

%

,

1/22/26

....

615

557

a

8014093.SQ.FTS.B

,

5

.535

%

,

1/22/26

....

557

548

a

8016422.SQ.FTS.B

,

4

.767

%

,

1/23/26

....

620

139

a

8016600.SQ.FTS.B

,

4

.771

%

,

1/23/26

....

2,227

1,390

a

8016854.SQ.FTS.B

,

4

.78

%

,

1/23/26

.....

9,237

8,226

8016663.SQ.FTS.B

,

5

.348

%

,

1/23/26

....

7,206

3,832

a

8016264.SQ.FTS.B

,

5

.896

%

,

1/23/26

....

125

116

a

8017114.SQ.FTS.B

,

6

.157

%

,

1/23/26

....

183

60

a

8017820.SQ.FTS.B

,

6

.16

%

,

1/23/26

.....

619

220

a

8017283.SQ.FTS.B

,

6

.474

%

,

1/23/26

....

2,763

1,648

a

8020796.SQ.FTS.B

,

4

.777

%

,

1/24/26

....

539

535

a

8020927.SQ.FTS.B

,

4

.778

%

,

1/24/26

....

1,611

1,598

a

8021278.SQ.FTS.B

,

4

.78

%

,

1/24/26

.....

1,520

1,501

a

8020542.SQ.FTS.B

,

5

.094

%

,

1/24/26

....

6,528

5,582

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8019825.SQ.FTS.B

,

5

.425

%

,

1/24/26

....

$

40

$

31

8018766.SQ.FTS.B

,

5

.912

%

,

1/24/26

....

15,041

229

a

8021897.SQ.FTS.B

,

5

.915

%

,

1/24/26

....

3,724

1,625

a

8019861.SQ.FTS.B

,

6

.466

%

,

1/24/26

....

362

300

a

8026293.SQ.FTS.B

,

4

.778

%

,

1/25/26

....

2,473

2,378

a

8024548.SQ.FTS.B

,

4

.781

%

,

1/25/26

....

947

934

8027604.SQ.FTS.B

,

4

.784

%

,

1/25/26

....

4,651

111

a

8025958.SQ.FTS.B

,

5

.09

%

,

1/25/26

.....

4,268

1,861

a

8025169.SQ.FTS.B

,

5

.096

%

,

1/25/26

....

1,448

1,331

a

8026266.SQ.FTS.B

,

5

.107

%

,

1/25/26

....

632

609

a

8024997.SQ.FTS.B

,

5

.713

%

,

1/25/26

....

1,920

763

a

8026706.SQ.FTS.B

,

6

.163

%

,

1/25/26

....

831

723

8023992.SQ.FTS.B

,

6

.481

%

,

1/25/26

....

12,196

2,448

a

8028561.SQ.FTS.B

,

4

.78

%

,

1/26/26

.....

2,669

2,462

8030978.SQ.FTS.B

,

5

.444

%

,

1/26/26

....

3,358

39

a

8029441.SQ.FTS.B

,

5

.535

%

,

1/26/26

....

1,493

342

a

8028134.SQ.FTS.B

,

5

.539

%

,

1/26/26

....

469

445

a

8031301.SQ.FTS.B

,

5

.096

%

,

1/27/26

....

2,124

1,897

a

8031502.SQ.FTS.B

,

6

.17

%

,

1/27/26

.....

1,211

802

a

8031400.SQ.FTS.B

,

6

.294

%

,

1/27/26

....

239

204

a

8032652.SQ.FTS.B

,

4

.773

%

,

1/28/26

....

207

206

a

8032793.SQ.FTS.B

,

4

.777

%

,

1/28/26

....

2,091

2,052

a

8032736.SQ.FTS.B

,

4

.782

%

,

1/28/26

....

2,127

2,046

a

8032677.SQ.FTS.B

,

6

.279

%

,

1/28/26

....

384

276

a

8033449.SQ.FTS.B

,

4

.78

%

,

1/29/26

.....

2,649

2,479

a

8034689.SQ.FTS.B

,

4

.782

%

,

1/29/26

....

3,881

3,805

a

8034529.SQ.FTS.B

,

4

.783

%

,

1/29/26

....

1,845

1,811

a

8035417.SQ.FTS.B

,

4

.783

%

,

1/29/26

....

978

962

a

8035108.SQ.FTS.B

,

5

.348

%

,

1/29/26

....

5,451

5,241

a

8034901.SQ.FTS.B

,

5

.725

%

,

1/29/26

....

788

198

a

8038800.SQ.FTS.B

,

4

.78

%

,

1/30/26

.....

6,459

4,201

a

8040424.SQ.FTS.B

,

4

.78

%

,

1/30/26

.....

5,660

5,614

a

8037551.SQ.FTS.B

,

5

.341

%

,

1/30/26

....

654

617

a

8040045.SQ.FTS.B

,

5

.913

%

,

1/30/26

....

16,291

6,729

a

8042105.SQ.FTS.B

,

4

.78

%

,

1/31/26

.....

2,589

1,760

a

8042375.SQ.FTS.B

,

4

.78

%

,

1/31/26

.....

150

150

a

8042827.SQ.FTS.B

,

4

.781

%

,

1/31/26

....

4,998

4,892

a

8041024.SQ.FTS.B

,

5

.099

%

,

1/31/26

....

1,691

1,537

a

8042179.SQ.FTS.B

,

5

.346

%

,

1/31/26

....

4,607

4,473

a

8043219.SQ.FTS.B

,

5

.348

%

,

1/31/26

....

1,434

1,378

a

8042594.SQ.FTS.B

,

6

.474

%

,

1/31/26

....

993

622

8049012.SQ.FTS.B

,

4

.755

%

,

2/01/26

....

3,551

50

a

8047480.SQ.FTS.B

,

4

.78

%

,

2/01/26

.....

1,397

1,372

a

8047792.SQ.FTS.B

,

4

.78

%

,

2/01/26

.....

6,110

6,023

a

8048473.SQ.FTS.B

,

4

.783

%

,

2/01/26

....

1,637

1,617

a

8048746.SQ.FTS.B

,

5

.103

%

,

2/01/26

....

2,365

1,331

a

8049065.SQ.FTS.B

,

5

.346

%

,

2/01/26

....

34,049

26,504

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

39

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

8048279.SQ.FTS.B

,

5

.438

%

,

2/01/26

....

$

9,406

$

204

a

8052570.SQ.FTS.B

,

4

.79

%

,

2/02/26

.....

1,023

938

a

8052412.SQ.FTS.B

,

5

.09

%

,

2/02/26

.....

2,126

2,046

a

8053642.SQ.FTS.B

,

5

.439

%

,

2/02/26

....

1,485

1,200

a

8051096.SQ.FTS.B

,

5

.515

%

,

2/02/26

....

876

501

a

8051409.SQ.FTS.B

,

5

.909

%

,

2/02/26

....

1,697

1,006

a

8052229.SQ.FTS.B

,

5

.915

%

,

2/02/26

....

1,715

753

8054235.SQ.FTS.B

,

4

.757

%

,

2/03/26

....

3,049

445

a

8054292.SQ.FTS.B

,

4

.78

%

,

2/03/26

.....

2,640

2,574

a

8054413.SQ.FTS.B

,

4

.78

%

,

2/03/26

.....

1,439

1,421

a

8054570.SQ.FTS.B

,

4

.78

%

,

2/03/26

.....

7,816

7,707

8054545.SQ.FTS.B

,

5

.918

%

,

2/03/26

....

2,066

28

a

8055856.SQ.FTS.B

,

4

.778

%

,

2/04/26

....

3,826

3,643

a

8056029.SQ.FTS.B

,

4

.783

%

,

2/04/26

....

2,883

2,210

a

8055745.SQ.FTS.B

,

5

.094

%

,

2/04/26

....

493

483

a

8055411.SQ.FTS.B

,

5

.535

%

,

2/04/26

....

6,320

4,844

a

8058397.SQ.FTS.B

,

4

.779

%

,

2/05/26

....

1,404

1,396

8059935.SQ.FTS.B

,

4

.779

%

,

2/05/26

....

17,163

201

a

8059743.SQ.FTS.B

,

5

.098

%

,

2/05/26

....

1,242

1,099

a

8057935.SQ.FTS.B

,

5

.348

%

,

2/05/26

....

7,289

5,720

a

8059296.SQ.FTS.B

,

5

.532

%

,

2/05/26

....

1,114

1,040

a

8059674.SQ.FTS.B

,

5

.913

%

,

2/05/26

....

2,789

1,985

a

8059635.SQ.FTS.B

,

6

.167

%

,

2/05/26

....

2,858

649

8059274.SQ.FTS.B

,

6

.177

%

,

2/05/26

....

1,409

223

a

8061233.SQ.FTS.B

,

4

.776

%

,

2/06/26

....

2,730

2,455

a

8062138.SQ.FTS.B

,

4

.778

%

,

2/06/26

....

2,901

2,747

a

8060412.SQ.FTS.B

,

5

.095

%

,

2/06/26

....

3,000

2,775

a

8060903.SQ.FTS.B

,

5

.343

%

,

2/06/26

....

2,143

1,579

8062268.SQ.FTS.B

,

5

.448

%

,

2/06/26

....

697

55

a

8063776.SQ.FTS.B

,

5

.535

%

,

2/06/26

....

185

180

a

8063350.SQ.FTS.B

,

5

.909

%

,

2/06/26

....

5,652

2,007

a

8061055.SQ.FTS.B

,

5

.916

%

,

2/06/26

....

2,010

1,750

a

8063424.SQ.FTS.B

,

6

.454

%

,

2/06/26

....

276

241

a

8066390.SQ.FTS.B

,

4

.779

%

,

2/07/26

....

4,733

4,561

a

8064329.SQ.FTS.B

,

4

.78

%

,

2/07/26

.....

6,736

6,483

a

8064189.SQ.FTS.B

,

5

.352

%

,

2/07/26

....

531

521

a

8065141.SQ.FTS.B

,

5

.734

%

,

2/07/26

....

280

256

a

8070242.SQ.FTS.B

,

4

.78

%

,

2/08/26

.....

3,549

3,168

a

8072625.SQ.FTS.B

,

4

.78

%

,

2/08/26

.....

8,123

8,074

a

8072375.SQ.FTS.B

,

5

.532

%

,

2/08/26

....

3,603

2,880

a

8069191.SQ.FTS.B

,

5

.533

%

,

2/08/26

....

524

520

a

8072298.SQ.FTS.B

,

5

.535

%

,

2/08/26

....

3,055

2,772

a

8071950.SQ.FTS.B

,

5

.723

%

,

2/08/26

....

9,427

8,218

a

8071615.SQ.FTS.B

,

6

.459

%

,

2/08/26

....

712

292

a

8073505.SQ.FTS.B

,

4

.748

%

,

2/09/26

....

1,847

1,430

a

8074735.SQ.FTS.B

,

4

.78

%

,

2/09/26

.....

3,205

3,158

a

8075169.SQ.FTS.B

,

5

.535

%

,

2/09/26

....

9,965

9,520

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8072915.SQ.FTS.B

,

5

.541

%

,

2/09/26

....

$

2,594

$

1,770

a

8075130.SQ.FTS.B

,

6

.164

%

,

2/09/26

....

914

526

a

8076404.SQ.FTS.B

,

4

.779

%

,

2/10/26

....

6,738

6,649

a

8076328.SQ.FTS.B

,

4

.78

%

,

2/10/26

.....

2,322

2,204

a

8076761.SQ.FTS.B

,

5

.086

%

,

2/10/26

....

175

173

a

8076049.SQ.FTS.B

,

5

.095

%

,

2/10/26

....

1,266

1,180

a

8077095.SQ.FTS.B

,

4

.778

%

,

2/11/26

....

6,602

5,095

a

8077219.SQ.FTS.B

,

4

.778

%

,

2/11/26

....

3,533

3,455

a

8077443.SQ.FTS.B

,

5

.538

%

,

2/11/26

....

1,648

1,607

a

8077025.SQ.FTS.B

,

5

.725

%

,

2/11/26

....

4,579

2,459

a

8079228.SQ.FTS.B

,

5

.721

%

,

2/12/26

....

970

916

a

8079551.SQ.FTS.B

,

5

.911

%

,

2/12/26

....

1,119

877

a

8078030.SQ.FTS.B

,

5

.916

%

,

2/12/26

....

4,663

1,783

a

8078350.SQ.FTS.B

,

6

.154

%

,

2/12/26

....

1,237

501

a

8078475.SQ.FTS.B

,

6

.46

%

,

2/12/26

.....

1,352

255

a

8081534.SQ.FTS.B

,

4

.78

%

,

2/13/26

.....

832

821

a

8081907.SQ.FTS.B

,

4

.783

%

,

2/13/26

....

623

606

a

8084325.SQ.FTS.B

,

5

.096

%

,

2/13/26

....

4,613

2,676

8083556.SQ.FTS.B

,

5

.723

%

,

2/13/26

....

28,734

646

a

8084546.SQ.FTS.B

,

5

.912

%

,

2/13/26

....

5,235

5,101

a

8083380.SQ.FTS.B

,

6

.163

%

,

2/13/26

....

1,731

1,517

a

8084098.SQ.FTS.B

,

6

.172

%

,

2/13/26

....

1,863

509

a

8083435.SQ.FTS.B

,

6

.477

%

,

2/13/26

....

2,290

1,725

8087986.SQ.FTS.B

,

4

.753

%

,

2/14/26

....

3,035

53

a

8086447.SQ.FTS.B

,

4

.777

%

,

2/14/26

....

1,740

1,720

a

8085028.SQ.FTS.B

,

4

.778

%

,

2/14/26

....

9,535

3,998

a

8085688.SQ.FTS.B

,

4

.778

%

,

2/14/26

....

3,744

3,253

a

8086066.SQ.FTS.B

,

4

.78

%

,

2/14/26

.....

330

328

a

8086140.SQ.FTS.B

,

5

.083

%

,

2/14/26

....

1,465

585

a

8086633.SQ.FTS.B

,

5

.346

%

,

2/14/26

....

785

736

a

8087030.SQ.FTS.B

,

5

.535

%

,

2/14/26

....

1,056

1,004

a

8087076.SQ.FTS.B

,

6

.167

%

,

2/14/26

....

5,757

2,901

8090252.SQ.FTS.B

,

4

.747

%

,

2/15/26

....

434

6

a

8091041.SQ.FTS.B

,

4

.78

%

,

2/15/26

.....

1,517

1,498

a

8093329.SQ.FTS.B

,

4

.782

%

,

2/15/26

....

2,439

2,383

a

8091984.SQ.FTS.B

,

5

.089

%

,

2/15/26

....

739

710

a

8092025.SQ.FTS.B

,

5

.093

%

,

2/15/26

....

1,461

1,421

a

8092099.SQ.FTS.B

,

5

.093

%

,

2/15/26

....

3,959

3,654

a

8090392.SQ.FTS.B

,

5

.094

%

,

2/15/26

....

16,824

10,232

a

8091568.SQ.FTS.B

,

5

.094

%

,

2/15/26

....

494

488

a

8091529.SQ.FTS.B

,

5

.902

%

,

2/15/26

....

313

298

8091452.SQ.FTS.B

,

5

.908

%

,

2/15/26

....

6,428

96

a

8091224.SQ.FTS.B

,

5

.914

%

,

2/15/26

....

5,458

2,903

a

8091543.SQ.FTS.B

,

6

.161

%

,

2/15/26

....

1,166

976

a

8092015.SQ.FTS.B

,

6

.164

%

,

2/15/26

....

342

267

a

8090129.SQ.FTS.B

,

6

.165

%

,

2/15/26

....

1,425

799

a

8090264.SQ.FTS.B

,

6

.297

%

,

2/15/26

....

443

380

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

40

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8095236.SQ.FTS.B

,

4

.789

%

,

2/16/26

....

$

1,150

$

1,100

8095193.SQ.FTS.B

,

5

.082

%

,

2/16/26

....

1,147

24

a

8093633.SQ.FTS.B

,

5

.086

%

,

2/16/26

....

842

785

a

8094212.SQ.FTS.B

,

5

.917

%

,

2/16/26

....

1,493

1,363

a

8096059.SQ.FTS.B

,

6

.272

%

,

2/16/26

....

463

371

a

8095515.SQ.FTS.B

,

6

.507

%

,

2/16/26

....

146

134

8096997.SQ.FTS.B

,

4

.749

%

,

2/17/26

....

2,909

41

a

8097339.SQ.FTS.B

,

4

.778

%

,

2/17/26

....

2,238

2,125

a

8098423.SQ.FTS.B

,

4

.776

%

,

2/18/26

....

1,918

1,878

a

8097872.SQ.FTS.B

,

6

.158

%

,

2/18/26

....

412

388

a

8099044.SQ.FTS.B

,

4

.777

%

,

2/19/26

....

1,706

1,656

a

8100389.SQ.FTS.B

,

4

.78

%

,

2/19/26

.....

9,702

9,517

a

8100071.SQ.FTS.B

,

4

.784

%

,

2/19/26

....

1,714

1,686

a

8100267.SQ.FTS.B

,

4

.789

%

,

2/19/26

....

816

781

a

8101413.SQ.FTS.B

,

5

.094

%

,

2/19/26

....

3,540

3,497

a

8101986.SQ.FTS.B

,

5

.343

%

,

2/19/26

....

2,097

1,850

a

8102062.SQ.FTS.B

,

5

.538

%

,

2/19/26

....

1,409

1,350

8101882.SQ.FTS.B

,

6

.161

%

,

2/19/26

....

10,769

71

a

8102147.SQ.FTS.B

,

6

.171

%

,

2/19/26

....

890

392

a

8105868.SQ.FTS.B

,

4

.78

%

,

2/20/26

.....

14,731

14,533

a

8104677.SQ.FTS.B

,

5

.348

%

,

2/20/26

....

6,460

5,562

a

8103481.SQ.FTS.B

,

5

.725

%

,

2/20/26

....

6,621

4,659

a

8103124.SQ.FTS.B

,

6

.289

%

,

2/20/26

....

4,427

2,615

a

8106258.SQ.FTS.B

,

4

.78

%

,

2/21/26

.....

7,004

6,699

a

8107429.SQ.FTS.B

,

4

.78

%

,

2/21/26

.....

340

338

a

8107598.SQ.FTS.B

,

4

.781

%

,

2/21/26

....

6,407

6,293

a

8109377.SQ.FTS.B

,

4

.781

%

,

2/21/26

....

3,580

3,403

a

8109314.SQ.FTS.B

,

5

.34

%

,

2/21/26

.....

1,215

1,161

a

8114447.SQ.FTS.B

,

4

.746

%

,

2/22/26

....

5,540

1,862

a

8113077.SQ.FTS.B

,

4

.777

%

,

2/22/26

....

1,546

1,478

a

8115244.SQ.FTS.B

,

4

.779

%

,

2/22/26

....

3,910

3,715

a

8112683.SQ.FTS.B

,

5

.913

%

,

2/22/26

....

310

285

8114935.SQ.FTS.B

,

6

.414

%

,

2/22/26

....

3,564

47

a

8117795.SQ.FTS.B

,

4

.778

%

,

2/23/26

....

5,783

4,994

a

8118575.SQ.FTS.B

,

4

.779

%

,

2/23/26

....

1,197

1,179

a

8118357.SQ.FTS.B

,

4

.78

%

,

2/23/26

.....

226

225

a

8116917.SQ.FTS.B

,

6

.328

%

,

2/23/26

....

7,664

3,909

a

8115844.SQ.FTS.B

,

6

.352

%

,

2/23/26

....

387

254

a

8118325.SQ.FTS.B

,

6

.423

%

,

2/23/26

....

1,135

705

a

8119531.SQ.FTS.B

,

5

.406

%

,

2/24/26

....

3,183

2,922

a

8119314.SQ.FTS.B

,

6

.139

%

,

2/24/26

....

1,042

763

a

8119337.SQ.FTS.B

,

6

.289

%

,

2/24/26

....

2,733

2,484

a

8118871.SQ.FTS.B

,

6

.32

%

,

2/24/26

.....

2

2

a

8118849.SQ.FTS.B

,

6

.439

%

,

2/24/26

....

475

355

a

8120151.SQ.FTS.B

,

4

.781

%

,

2/25/26

....

6,940

6,741

a

8119683.SQ.FTS.B

,

4

.792

%

,

2/25/26

....

376

365

a

8120027.SQ.FTS.B

,

5

.521

%

,

2/25/26

....

440

391

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8122896.SQ.FTS.B

,

4

.78

%

,

2/26/26

.....

$

5,715

$

5,590

a

8123161.SQ.FTS.B

,

4

.78

%

,

2/26/26

.....

1,849

1,809

a

8122643.SQ.FTS.B

,

4

.781

%

,

2/26/26

....

3,530

1,487

a

8122313.SQ.FTS.B

,

4

.785

%

,

2/26/26

....

732

724

a

8122526.SQ.FTS.B

,

4

.785

%

,

2/26/26

....

1,019

1,007

a

8123507.SQ.FTS.B

,

5

.114

%

,

2/26/26

....

4,914

4,876

a

8120652.SQ.FTS.B

,

5

.117

%

,

2/26/26

....

345

340

a

8120750.SQ.FTS.B

,

6

.42

%

,

2/26/26

.....

2,057

2,011

a

8124971.SQ.FTS.B

,

4

.78

%

,

2/27/26

.....

950

946

a

8127749.SQ.FTS.B

,

4

.78

%

,

2/27/26

.....

7,593

7,534

a

8127364.SQ.FTS.B

,

5

.911

%

,

2/27/26

....

16,717

7,830

a

8124440.SQ.FTS.B

,

5

.912

%

,

2/27/26

....

2,704

2,623

a

8131129.SQ.FTS.B

,

4

.767

%

,

2/28/26

....

1,652

730

a

8136150.SQ.FTS.B

,

4

.771

%

,

2/28/26

....

1,308

1,213

a

8131044.SQ.FTS.B

,

4

.78

%

,

2/28/26

.....

2,643

2,567

a

8136019.SQ.FTS.B

,

4

.78

%

,

2/28/26

.....

977

966

a

8135683.SQ.FTS.B

,

4

.784

%

,

2/28/26

....

1,826

1,797

a

8136318.SQ.FTS.B

,

4

.791

%

,

2/28/26

....

1,324

1,159

a

8131001.SQ.FTS.B

,

5

.101

%

,

2/28/26

....

1,114

1,075

a

8138282.SQ.FTS.B

,

5

.113

%

,

2/28/26

....

43,704

33,974

a

8137730.SQ.FTS.B

,

5

.114

%

,

2/28/26

....

5,975

5,863

a

8142705.SQ.FTS.B

,

5

.346

%

,

2/28/26

....

1,594

1,538

8143305.SQ.FTS.B

,

5

.408

%

,

2/28/26

....

4,763

1,555

a

8136390.SQ.FTS.B

,

5

.525

%

,

2/28/26

....

530

514

a

8129955.SQ.FTS.B

,

5

.643

%

,

2/28/26

....

201

175

a

8142516.SQ.FTS.B

,

5

.912

%

,

2/28/26

....

2,608

2,521

8143370.SQ.FTS.B

,

6

.422

%

,

2/28/26

....

7,567

2,920

a

8135171.SQ.FTS.B

,

6

.544

%

,

2/28/26

....

1,785

577

a

8128195.SQ.FTS.B

,

6

.551

%

,

2/28/26

....

4,447

2,817

8137699.SQ.FTS.B

,

6

.65

%

,

2/28/26

.....

1,030

17

a

8142147.SQ.FTS.B

,

6

.672

%

,

2/28/26

....

3,962

3,203

a

8143889.SQ.FTS.B

,

4

.769

%

,

3/01/26

....

475

470

a

8143809.SQ.FTS.B

,

4

.78

%

,

3/01/26

.....

627

623

a

8144243.SQ.FTS.B

,

4

.783

%

,

3/01/26

....

2,041

2,010

a

8145071.SQ.FTS.B

,

4

.99

%

,

3/02/26

.....

385

151

a

8145335.SQ.FTS.B

,

5

.117

%

,

3/02/26

....

1,495

1,362

8145418.SQ.FTS.B

,

5

.636

%

,

3/02/26

....

12,225

246

a

8144863.SQ.FTS.B

,

6

.159

%

,

3/02/26

....

1,440

1,185

a

8145361.SQ.FTS.B

,

6

.415

%

,

3/02/26

....

1,538

1,247

a

8146232.SQ.FTS.B

,

4

.781

%

,

3/03/26

....

25,283

17,654

a

8147643.SQ.FTS.B

,

4

.784

%

,

3/03/26

....

933

925

a

8149805.SQ.FTS.B

,

4

.78

%

,

3/04/26

.....

6,063

5,966

8150361.SQ.FTS.B

,

4

.78

%

,

3/04/26

.....

24,110

476

a

8149465.SQ.FTS.B

,

4

.781

%

,

3/04/26

....

4,172

4,106

a

8150835.SQ.FTS.B

,

4

.782

%

,

3/04/26

....

1,306

1,297

a

8151363.SQ.FTS.B

,

4

.786

%

,

3/04/26

....

1,742

1,693

a

8151099.SQ.FTS.B

,

5

.674

%

,

3/04/26

....

465

448

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

41

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8152809.SQ.FTS.B

,

5

.912

%

,

3/04/26

....

$

15,614

$

14,856

a

8157664.SQ.FTS.B

,

4

.78

%

,

3/05/26

.....

47,535

30,390

a

8155739.SQ.FTS.B

,

4

.955

%

,

3/05/26

....

11,144

1,760

a

8157542.SQ.FTS.B

,

5

.109

%

,

3/05/26

....

1,234

1,194

a

8158269.SQ.FTS.B

,

5

.114

%

,

3/05/26

....

2,708

2,674

a

8156444.SQ.FTS.B

,

6

.327

%

,

3/05/26

....

6,512

4,051

a

8157489.SQ.FTS.B

,

6

.418

%

,

3/05/26

....

2,034

724

a

8157610.SQ.FTS.B

,

6

.677

%

,

3/05/26

....

2,513

1,903

a

8158959.SQ.FTS.B

,

4

.777

%

,

3/06/26

....

2,734

2,687

a

8160380.SQ.FTS.B

,

4

.779

%

,

3/06/26

....

6,208

5,785

a

8161145.SQ.FTS.B

,

4

.783

%

,

3/06/26

....

701

697

a

8160800.SQ.FTS.B

,

5

.097

%

,

3/06/26

....

3,351

2,685

a

8162745.SQ.FTS.B

,

4

.781

%

,

3/07/26

....

5,990

5,910

a

8162728.SQ.FTS.B

,

6

.55

%

,

3/07/26

.....

425

331

a

8163716.SQ.FTS.B

,

6

.334

%

,

3/08/26

....

1,426

1,001

a

8166169.SQ.FTS.B

,

4

.78

%

,

3/09/26

.....

386

382

a

8166199.SQ.FTS.B

,

5

.095

%

,

3/09/26

....

1,823

1,809

a

8164392.SQ.FTS.B

,

5

.101

%

,

3/09/26

....

781

701

a

8167491.SQ.FTS.B

,

5

.66

%

,

3/09/26

.....

5,991

4,815

a

8164437.SQ.FTS.B

,

6

.289

%

,

3/09/26

....

312

119

a

8166002.SQ.FTS.B

,

6

.336

%

,

3/09/26

....

1,001

652

a

8167883.SQ.FTS.B

,

4

.782

%

,

3/10/26

....

1,038

1,023

a

8170474.SQ.FTS.B

,

4

.784

%

,

3/10/26

....

1,782

1,757

a

8167768.SQ.FTS.B

,

5

.625

%

,

3/10/26

....

832

22

a

8169094.SQ.FTS.B

,

5

.66

%

,

3/10/26

.....

2,540

52

8170418.SQ.FTS.B

,

5

.66

%

,

3/10/26

.....

3,677

38

a

8168011.SQ.FTS.B

,

6

.152

%

,

3/10/26

....

1,016

1,007

a

8174309.SQ.FTS.B

,

4

.779

%

,

3/11/26

....

1,771

1,740

a

8172480.SQ.FTS.B

,

4

.781

%

,

3/11/26

....

5,079

4,944

a

8171795.SQ.FTS.B

,

5

.112

%

,

3/11/26

....

7,161

4,846

a

8174278.SQ.FTS.B

,

5

.117

%

,

3/11/26

....

2,176

741

a

8172993.SQ.FTS.B

,

6

.151

%

,

3/11/26

....

6,292

5,888

8173171.SQ.FTS.B

,

6

.325

%

,

3/11/26

....

9,578

124

a

8174746.SQ.FTS.B

,

6

.328

%

,

3/11/26

....

20,312

4,014

a

8177875.SQ.FTS.B

,

4

.773

%

,

3/12/26

....

621

614

a

8177668.SQ.FTS.B

,

4

.78

%

,

3/12/26

.....

1,912

1,863

a

8178775.SQ.FTS.B

,

4

.78

%

,

3/12/26

.....

12,665

11,822

a

8177961.SQ.FTS.B

,

5

.114

%

,

3/12/26

....

2,227

2,057

a

8179285.SQ.FTS.B

,

5

.66

%

,

3/12/26

.....

39,069

36,582

a

8179202.SQ.FTS.B

,

6

.142

%

,

3/12/26

....

1,365

1,169

a

8178625.SQ.FTS.B

,

6

.655

%

,

3/12/26

....

545

220

a

8181504.SQ.FTS.B

,

4

.781

%

,

3/13/26

....

1,991

1,949

a

8180856.SQ.FTS.B

,

4

.784

%

,

3/13/26

....

2,913

2,756

a

8183617.SQ.FTS.B

,

4

.956

%

,

3/13/26

....

941

405

a

8181653.SQ.FTS.B

,

5

.635

%

,

3/13/26

....

834

282

a

8180973.SQ.FTS.B

,

5

.66

%

,

3/13/26

.....

235

230

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8181680.SQ.FTS.B

,

5

.665

%

,

3/13/26

....

$

2,185

$

1,971

a

8184218.SQ.FTS.B

,

5

.672

%

,

3/13/26

....

772

736

a

8182398.SQ.FTS.B

,

5

.911

%

,

3/13/26

....

12,582

12,072

a

8182847.SQ.FTS.B

,

6

.326

%

,

3/13/26

....

2,447

2,303

a

8181805.SQ.FTS.B

,

6

.414

%

,

3/13/26

....

3,296

1,345

a

8182383.SQ.FTS.B

,

6

.549

%

,

3/13/26

....

154

144

a

8184756.SQ.FTS.B

,

4

.78

%

,

3/14/26

.....

1,322

967

a

8184774.SQ.FTS.B

,

4

.781

%

,

3/14/26

....

3,248

3,202

a

8184612.SQ.FTS.B

,

5

.407

%

,

3/14/26

....

2,444

2,282

8184697.SQ.FTS.B

,

5

.637

%

,

3/14/26

....

2,932

37

a

8185183.SQ.FTS.B

,

4

.782

%

,

3/15/26

....

1,969

1,928

a

8185689.SQ.FTS.B

,

5

.398

%

,

3/15/26

....

1,171

1,124

a

8185632.SQ.FTS.B

,

5

.409

%

,

3/15/26

....

1,647

1,620

a

8185168.SQ.FTS.B

,

5

.66

%

,

3/15/26

.....

54

54

a

8185373.SQ.FTS.B

,

5

.913

%

,

3/15/26

....

1,291

1,070

a

8185584.SQ.FTS.B

,

5

.916

%

,

3/15/26

....

430

420

a

8189335.SQ.FTS.B

,

4

.776

%

,

3/16/26

....

2,310

2,271

a

8187727.SQ.FTS.B

,

4

.779

%

,

3/16/26

....

9,229

8,944

a

8189229.SQ.FTS.B

,

4

.78

%

,

3/16/26

.....

2,333

2,261

a

8188783.SQ.FTS.B

,

4

.781

%

,

3/16/26

....

3,581

3,456

a

8188243.SQ.FTS.B

,

5

.409

%

,

3/16/26

....

9,297

9,189

a

8187560.SQ.FTS.B

,

5

.413

%

,

3/16/26

....

3,506

3,173

a

8189307.SQ.FTS.B

,

5

.418

%

,

3/16/26

....

670

655

a

8188774.SQ.FTS.B

,

6

.415

%

,

3/16/26

....

509

395

a

8189740.SQ.FTS.B

,

6

.423

%

,

3/16/26

....

7,590

1,507

a

8187007.SQ.FTS.B

,

6

.667

%

,

3/16/26

....

732

447

a

8190088.SQ.FTS.B

,

4

.778

%

,

3/17/26

....

2,811

2,761

a

8192019.SQ.FTS.B

,

4

.78

%

,

3/17/26

.....

2,823

2,804

a

8193080.SQ.FTS.B

,

5

.113

%

,

3/17/26

....

3,982

3,870

a

8190897.SQ.FTS.B

,

5

.118

%

,

3/17/26

....

2,209

2,126

a

8190316.SQ.FTS.B

,

6

.15

%

,

3/17/26

.....

4,270

4,148

a

8191242.SQ.FTS.B

,

6

.422

%

,

3/17/26

....

3,722

3,701

a

8192679.SQ.FTS.B

,

6

.547

%

,

3/17/26

....

11,145

5,348

a

8194783.SQ.FTS.B

,

4

.779

%

,

3/18/26

....

3,602

2,903

a

8195317.SQ.FTS.B

,

4

.78

%

,

3/18/26

.....

24,739

23,833

a

8195154.SQ.FTS.B

,

4

.783

%

,

3/18/26

....

2,030

1,903

a

8200175.SQ.FTS.B

,

4

.779

%

,

3/19/26

....

14,184

13,806

a

8200147.SQ.FTS.B

,

4

.78

%

,

3/19/26

.....

600

595

a

8201092.SQ.FTS.B

,

4

.78

%

,

3/19/26

.....

3,339

3,151

a

8201263.SQ.FTS.B

,

5

.114

%

,

3/19/26

....

1,490

1,468

a

8199489.SQ.FTS.B

,

6

.421

%

,

3/19/26

....

16,346

13,351

a

8206092.SQ.FTS.B

,

4

.779

%

,

3/20/26

....

4,078

4,006

a

8204727.SQ.FTS.B

,

4

.78

%

,

3/20/26

.....

5,306

5,242

a

8203394.SQ.FTS.B

,

4

.783

%

,

3/20/26

....

1,084

1,011

a

8203626.SQ.FTS.B

,

5

.66

%

,

3/20/26

.....

864

141

a

8203587.SQ.FTS.B

,

6

.334

%

,

3/20/26

....

921

387

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

42

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8206079.SQ.FTS.B

,

6

.436

%

,

3/20/26

....

$

650

$

572

a

8203860.SQ.FTS.B

,

6

.548

%

,

3/20/26

....

1,419

1,375

a

8206180.SQ.FTS.B

,

4

.773

%

,

3/21/26

....

1,887

1,835

a

8206216.SQ.FTS.B

,

4

.78

%

,

3/21/26

.....

762

719

a

8207036.SQ.FTS.B

,

6

.304

%

,

3/21/26

....

749

102

8206849.SQ.FTS.B

,

6

.315

%

,

3/21/26

....

2,278

298

a

8206444.SQ.FTS.B

,

6

.423

%

,

3/21/26

....

8,565

5,727

a

8206918.SQ.FTS.B

,

6

.423

%

,

3/21/26

....

4,838

3,241

a

8207847.SQ.FTS.B

,

4

.779

%

,

3/22/26

....

5,435

5,355

a

8207447.SQ.FTS.B

,

4

.782

%

,

3/22/26

....

2,159

1,994

a

8207123.SQ.FTS.B

,

5

.66

%

,

3/22/26

.....

161

141

a

8207104.SQ.FTS.B

,

6

.359

%

,

3/22/26

....

770

88

a

8210620.SQ.FTS.B

,

4

.782

%

,

3/23/26

....

6,930

2,746

a

8209604.SQ.FTS.B

,

6

.151

%

,

3/23/26

....

13,496

12,905

a

8209378.SQ.FTS.B

,

6

.551

%

,

3/23/26

....

2,938

2,402

a

8208304.SQ.FTS.B

,

6

.68

%

,

3/23/26

.....

2,630

694

a

8212256.SQ.FTS.B

,

4

.803

%

,

3/24/26

....

284

280

a

8213771.SQ.FTS.B

,

5

.403

%

,

3/24/26

....

1,119

1,084

8214128.SQ.FTS.B

,

5

.621

%

,

3/24/26

....

1,340

32

8212978.SQ.FTS.B

,

5

.635

%

,

3/24/26

....

4,722

895

a

8213812.SQ.FTS.B

,

5

.66

%

,

3/24/26

.....

7,919

5,456

a

8211748.SQ.FTS.B

,

5

.664

%

,

3/24/26

....

6,703

4,826

a

8213678.SQ.FTS.B

,

6

.149

%

,

3/24/26

....

338

331

a

8213456.SQ.FTS.B

,

6

.169

%

,

3/24/26

....

116

111

a

8214167.SQ.FTS.B

,

6

.421

%

,

3/24/26

....

32,577

29,977

8213530.SQ.FTS.B

,

6

.422

%

,

3/24/26

....

5,213

46

a

8213434.SQ.FTS.B

,

6

.552

%

,

3/24/26

....

283

263

a

8217082.SQ.FTS.B

,

4

.78

%

,

3/25/26

.....

2,048

2,026

8216246.SQ.FTS.B

,

4

.942

%

,

3/25/26

....

1,354

18

a

8216890.SQ.FTS.B

,

5

.112

%

,

3/25/26

....

1,495

1,485

a

8217855.SQ.FTS.B

,

5

.114

%

,

3/25/26

....

9,027

8,915

a

8215088.SQ.FTS.B

,

5

.669

%

,

3/25/26

....

2,681

1,722

a

8216283.SQ.FTS.B

,

6

.145

%

,

3/25/26

....

53

52

a

8215077.SQ.FTS.B

,

6

.679

%

,

3/25/26

....

548

490

a

8222865.SQ.FTS.B

,

4

.778

%

,

3/26/26

....

3,873

3,791

a

8220967.SQ.FTS.B

,

4

.781

%

,

3/26/26

....

11,407

11,212

a

8222706.SQ.FTS.B

,

4

.781

%

,

3/26/26

....

1,382

1,370

a

8222550.SQ.FTS.B

,

4

.783

%

,

3/26/26

....

5,665

4,454

a

8224271.SQ.FTS.B

,

4

.78

%

,

3/27/26

.....

2,486

2,445

a

8227363.SQ.FTS.B

,

4

.781

%

,

3/27/26

....

1,961

1,938

a

8227508.SQ.FTS.B

,

4

.969

%

,

3/27/26

....

130

120

a

8226147.SQ.FTS.B

,

5

.113

%

,

3/27/26

....

3,482

3,430

a

8226263.SQ.FTS.B

,

5

.409

%

,

3/27/26

....

1,775

1,766

a

8228023.SQ.FTS.B

,

6

.153

%

,

3/27/26

....

4,420

4,233

8228053.SQ.FTS.B

,

5

.113

%

,

3/28/26

....

23,240

210

a

8228396.SQ.FTS.B

,

5

.66

%

,

3/28/26

.....

1,538

1,514

8228222.SQ.FTS.B

,

5

.909

%

,

3/28/26

....

2,852

403

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8228435.SQ.FTS.B

,

6

.15

%

,

3/28/26

.....

$

5,768

$

5,592

a

8228243.SQ.FTS.B

,

6

.152

%

,

3/28/26

....

8,973

2,288

a

8228906.SQ.FTS.B

,

6

.431

%

,

3/28/26

....

538

486

a

8228385.SQ.FTS.B

,

6

.432

%

,

3/28/26

....

982

167

a

8229522.SQ.FTS.B

,

4

.779

%

,

3/29/26

....

6,826

6,705

a

8229430.SQ.FTS.B

,

5

.41

%

,

3/29/26

.....

2,280

2,213

a

8229745.SQ.FTS.B

,

6

.15

%

,

3/29/26

.....

2,947

2,454

a

8229319.SQ.FTS.B

,

6

.423

%

,

3/29/26

....

3,276

2,495

a

8234100.SQ.FTS.B

,

4

.778

%

,

3/30/26

....

3,973

3,906

a

8232479.SQ.FTS.B

,

4

.783

%

,

3/30/26

....

3,070

2,968

a

8231045.SQ.FTS.B

,

4

.784

%

,

3/30/26

....

861

830

a

8232780.SQ.FTS.B

,

5

.113

%

,

3/30/26

....

17,765

17,520

a

8230531.SQ.FTS.B

,

5

.119

%

,

3/30/26

....

1,555

1,498

a

8230464.SQ.FTS.B

,

5

.409

%

,

3/30/26

....

421

411

a

8230758.SQ.FTS.B

,

6

.149

%

,

3/30/26

....

1,053

949

a

8230433.SQ.FTS.B

,

6

.667

%

,

3/30/26

....

1,134

875

a

8236501.SQ.FTS.B

,

4

.78

%

,

4/01/26

.....

2,081

2,060

a

8234388.SQ.FTS.B

,

4

.782

%

,

4/01/26

....

3,745

3,582

a

8235650.SQ.FTS.B

,

4

.786

%

,

4/01/26

....

908

891

a

8238048.SQ.FTS.B

,

5

.113

%

,

4/01/26

....

6,638

4,527

a

8237112.SQ.FTS.B

,

5

.627

%

,

4/01/26

....

621

266

a

8235789.SQ.FTS.B

,

5

.66

%

,

4/01/26

.....

2,137

1,705

a

8236723.SQ.FTS.B

,

5

.913

%

,

4/01/26

....

21,823

18,212

a

8237862.SQ.FTS.B

,

6

.149

%

,

4/01/26

....

2,847

1,535

a

8235952.SQ.FTS.B

,

6

.152

%

,

4/01/26

....

361

312

8236625.SQ.FTS.B

,

6

.424

%

,

4/01/26

....

3,956

54

a

8236423.SQ.FTS.B

,

6

.672

%

,

4/01/26

....

2,927

821

a

8239466.SQ.FTS.B

,

4

.772

%

,

4/02/26

....

1,639

1,547

a

8240106.SQ.FTS.B

,

4

.779

%

,

4/02/26

....

4,735

4,607

a

8241254.SQ.FTS.B

,

4

.779

%

,

4/02/26

....

4,880

4,622

a

8238722.SQ.FTS.B

,

4

.78

%

,

4/02/26

.....

12,358

12,149

a

8242111.SQ.FTS.B

,

4

.78

%

,

4/02/26

.....

6,091

5,971

a

8242332.SQ.FTS.B

,

4

.78

%

,

4/02/26

.....

2,514

2,468

a

8240661.SQ.FTS.B

,

4

.781

%

,

4/02/26

....

3,237

3,210

a

8240219.SQ.FTS.B

,

4

.783

%

,

4/02/26

....

736

729

a

8240246.SQ.FTS.B

,

4

.793

%

,

4/02/26

....

832

802

a

8240825.SQ.FTS.B

,

5

.113

%

,

4/02/26

....

15,864

15,550

a

8239630.SQ.FTS.B

,

5

.114

%

,

4/02/26

....

6,715

6,638

a

8242388.SQ.FTS.B

,

5

.409

%

,

4/02/26

....

926

911

a

8242280.SQ.FTS.B

,

5

.414

%

,

4/02/26

....

3,456

1,528

a

8240279.SQ.FTS.B

,

5

.674

%

,

4/02/26

....

722

705

a

8242021.SQ.FTS.B

,

6

.155

%

,

4/02/26

....

1,209

1,117

a

8239279.SQ.FTS.B

,

6

.416

%

,

4/02/26

....

1,250

917

a

8241177.SQ.FTS.B

,

6

.524

%

,

4/02/26

....

128

124

a

8241185.SQ.FTS.B

,

6

.545

%

,

4/02/26

....

703

696

8240252.SQ.FTS.B

,

6

.55

%

,

4/02/26

.....

5,014

1,850

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

43

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8245627.SQ.FTS.B

,

4

.776

%

,

4/03/26

....

$

2,601

$

2,549

a

8246623.SQ.FTS.B

,

4

.78

%

,

4/03/26

.....

17,975

15,504

a

8248433.SQ.FTS.B

,

4

.781

%

,

4/03/26

....

4,358

4,277

8245816.SQ.FTS.B

,

4

.941

%

,

4/03/26

....

1,309

143

8247785.SQ.FTS.B

,

5

.409

%

,

4/03/26

....

50,933

212

a

8244939.SQ.FTS.B

,

5

.66

%

,

4/03/26

.....

6,187

5,915

a

8248121.SQ.FTS.B

,

6

.422

%

,

4/03/26

....

21,096

19,717

a

8250595.SQ.FTS.B

,

4

.776

%

,

4/04/26

....

2,060

2,030

a

8250683.SQ.FTS.B

,

4

.78

%

,

4/04/26

.....

13,607

13,423

a

8251921.SQ.FTS.B

,

5

.113

%

,

4/04/26

....

10,837

10,509

a

8252443.SQ.FTS.B

,

5

.405

%

,

4/04/26

....

776

765

a

8249053.SQ.FTS.B

,

5

.409

%

,

4/04/26

....

27,763

20,965

a

8249817.SQ.FTS.B

,

5

.409

%

,

4/04/26

....

9,461

8,320

a

8251465.SQ.FTS.B

,

5

.409

%

,

4/04/26

....

1,822

1,776

a

8251246.SQ.FTS.B

,

5

.618

%

,

4/04/26

....

593

104

a

8248924.SQ.FTS.B

,

6

.145

%

,

4/04/26

....

2,936

1,387

a

8251529.SQ.FTS.B

,

6

.152

%

,

4/04/26

....

9,165

8,849

a

8251430.SQ.FTS.B

,

6

.667

%

,

4/04/26

....

248

245

a

8252562.SQ.FTS.B

,

5

.111

%

,

4/05/26

....

3,358

3,278

a

8252661.SQ.FTS.B

,

6

.551

%

,

4/05/26

....

3,070

1,584

a

8253201.SQ.FTS.B

,

6

.671

%

,

4/05/26

....

2,723

1,884

a

8253678.SQ.FTS.B

,

4

.776

%

,

4/06/26

....

2,020

1,990

a

8253745.SQ.FTS.B

,

4

.78

%

,

4/06/26

.....

632

626

a

8254231.SQ.FTS.B

,

4

.781

%

,

4/06/26

....

5,643

5,491

a

8254361.SQ.FTS.B

,

4

.952

%

,

4/06/26

....

591

548

a

8254417.SQ.FTS.B

,

5

.114

%

,

4/06/26

....

6,478

6,334

a

8253973.SQ.FTS.B

,

5

.911

%

,

4/06/26

....

1,488

1,477

a

8255333.SQ.FTS.B

,

4

.773

%

,

4/07/26

....

1,204

1,184

a

8255594.SQ.FTS.B

,

4

.78

%

,

4/07/26

.....

4,231

4,153

a

8257462.SQ.FTS.B

,

4

.78

%

,

4/07/26

.....

982

970

a

8257567.SQ.FTS.B

,

4

.782

%

,

4/07/26

....

1,994

1,556

a

8258230.SQ.FTS.B

,

4

.783

%

,

4/07/26

....

2,626

2,587

8257493.SQ.FTS.B

,

4

.955

%

,

4/07/26

....

7,987

98

8257688.SQ.FTS.B

,

4

.955

%

,

4/07/26

....

12,315

178

a

8257447.SQ.FTS.B

,

4

.96

%

,

4/07/26

.....

1,813

597

a

8258468.SQ.FTS.B

,

5

.4

%

,

4/07/26

......

1,300

1,136

a

8255972.SQ.FTS.B

,

5

.409

%

,

4/07/26

....

1,677

1,670

a

8256829.SQ.FTS.B

,

5

.66

%

,

4/07/26

.....

1,227

1,193

a

8258492.SQ.FTS.B

,

5

.912

%

,

4/07/26

....

4,100

3,033

a

8255434.SQ.FTS.B

,

6

.147

%

,

4/07/26

....

2,897

2,421

a

8257962.SQ.FTS.B

,

6

.326

%

,

4/07/26

....

18,569

4,311

a

8255944.SQ.FTS.B

,

6

.339

%

,

4/07/26

....

971

614

a

8255076.SQ.FTS.B

,

6

.409

%

,

4/07/26

....

3

3

a

8255903.SQ.FTS.B

,

6

.418

%

,

4/07/26

....

958

930

a

8258319.SQ.FTS.B

,

6

.548

%

,

4/07/26

....

6,813

3,198

a

8259624.SQ.FTS.B

,

4

.777

%

,

4/08/26

....

4,866

4,692

a

8260298.SQ.FTS.B

,

4

.779

%

,

4/08/26

....

2,635

2,609

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8260785.SQ.FTS.B

,

4

.779

%

,

4/08/26

....

$

4,153

$

4,021

a

8261371.SQ.FTS.B

,

4

.779

%

,

4/08/26

....

12,286

11,944

a

8259886.SQ.FTS.B

,

4

.78

%

,

4/08/26

.....

4,295

4,251

a

8260411.SQ.FTS.B

,

4

.78

%

,

4/08/26

.....

1,438

1,418

a

8260461.SQ.FTS.B

,

4

.78

%

,

4/08/26

.....

14,393

14,008

a

8262051.SQ.FTS.B

,

4

.78

%

,

4/08/26

.....

456

450

a

8260737.SQ.FTS.B

,

4

.782

%

,

4/08/26

....

654

651

a

8259484.SQ.FTS.B

,

4

.822

%

,

4/08/26

....

264

257

8259353.SQ.FTS.B

,

5

.66

%

,

4/08/26

.....

6,123

97

8260447.SQ.FTS.B

,

5

.66

%

,

4/08/26

.....

1,380

10

a

8261047.SQ.FTS.B

,

5

.912

%

,

4/08/26

....

3,762

3,502

a

8261744.SQ.FTS.B

,

6

.421

%

,

4/08/26

....

2,221

2,142

a

8263637.SQ.FTS.B

,

4

.78

%

,

4/09/26

.....

169

167

a

8263428.SQ.FTS.B

,

4

.958

%

,

4/09/26

....

1,249

562

a

8263106.SQ.FTS.B

,

5

.415

%

,

4/09/26

....

750

695

a

8264502.SQ.FTS.B

,

5

.909

%

,

4/09/26

....

1,212

1,174

a

8262472.SQ.FTS.B

,

5

.912

%

,

4/09/26

....

19,674

13,303

a

8265251.SQ.FTS.B

,

6

.151

%

,

4/09/26

....

1,971

1,956

a

8263139.SQ.FTS.B

,

6

.337

%

,

4/09/26

....

1,265

744

a

8263454.SQ.FTS.B

,

6

.575

%

,

4/09/26

....

825

190

a

8269750.SQ.FTS.B

,

4

.779

%

,

4/10/26

....

4,971

4,859

a

8271359.SQ.FTS.B

,

4

.779

%

,

4/10/26

....

21,838

17,730

a

8270720.SQ.FTS.B

,

4

.78

%

,

4/10/26

.....

651

640

8272637.SQ.FTS.B

,

4

.953

%

,

4/10/26

....

2,099

29

a

8270716.SQ.FTS.B

,

4

.993

%

,

4/10/26

....

79

66

a

8270836.SQ.FTS.B

,

5

.111

%

,

4/10/26

....

3,954

3,850

a

8272965.SQ.FTS.B

,

6

.151

%

,

4/10/26

....

43,713

20,035

8269644.SQ.FTS.B

,

6

.542

%

,

4/10/26

....

2,040

1,050

a

8270794.SQ.FTS.B

,

6

.679

%

,

4/10/26

....

285

267

a

8274487.SQ.FTS.B

,

4

.78

%

,

4/11/26

.....

314

310

a

8275109.SQ.FTS.B

,

4

.78

%

,

4/11/26

.....

1,298

1,285

a

8275291.SQ.FTS.B

,

4

.78

%

,

4/11/26

.....

3,202

3,117

a

8276864.SQ.FTS.B

,

5

.113

%

,

4/11/26

....

57,633

49,737

a

8274997.SQ.FTS.B

,

5

.408

%

,

4/11/26

....

1,989

1,517

a

8275734.SQ.FTS.B

,

5

.409

%

,

4/11/26

....

28,406

21,609

a

8276296.SQ.FTS.B

,

5

.411

%

,

4/11/26

....

5,498

5,236

a

8274578.SQ.FTS.B

,

5

.66

%

,

4/11/26

.....

4,269

4,076

a

8273886.SQ.FTS.B

,

5

.912

%

,

4/11/26

....

2,311

2,170

a

8276707.SQ.FTS.B

,

5

.912

%

,

4/11/26

....

338

336

a

8275066.SQ.FTS.B

,

6

.15

%

,

4/11/26

.....

1,031

942

a

8276131.SQ.FTS.B

,

6

.15

%

,

4/11/26

.....

965

849

a

8276175.SQ.FTS.B

,

6

.154

%

,

4/11/26

....

136

134

a

8275038.SQ.FTS.B

,

6

.404

%

,

4/11/26

....

487

458

a

8273624.SQ.FTS.B

,

6

.548

%

,

4/11/26

....

1,368

960

a

8277873.SQ.FTS.B

,

4

.778

%

,

4/12/26

....

4,491

4,409

a

8277642.SQ.FTS.B

,

4

.782

%

,

4/12/26

....

2,912

2,849

a

8277587.SQ.FTS.B

,

4

.783

%

,

4/12/26

....

2,532

2,487

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

44

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8277816.SQ.FTS.B

,

4

.783

%

,

4/12/26

....

$

3,755

$

3,602

a

8278265.SQ.FTS.B

,

5

.905

%

,

4/12/26

....

1,098

972

a

8278109.SQ.FTS.B

,

6

.419

%

,

4/12/26

....

2,477

1,855

a

8278984.SQ.FTS.B

,

4

.777

%

,

4/13/26

....

2,312

2,249

a

8278632.SQ.FTS.B

,

4

.78

%

,

4/13/26

.....

2,652

2,610

a

8278790.SQ.FTS.B

,

4

.78

%

,

4/13/26

.....

7,274

7,015

a

8278363.SQ.FTS.B

,

4

.785

%

,

4/13/26

....

1,361

1,345

a

8278424.SQ.FTS.B

,

5

.408

%

,

4/13/26

....

7,331

6,573

a

8279032.SQ.FTS.B

,

6

.149

%

,

4/13/26

....

1,147

1,130

a

8280031.SQ.FTS.B

,

4

.781

%

,

4/14/26

....

10,091

9,885

a

8279894.SQ.FTS.B

,

5

.108

%

,

4/14/26

....

800

791

a

8279460.SQ.FTS.B

,

5

.639

%

,

4/14/26

....

648

444

a

8280241.SQ.FTS.B

,

5

.664

%

,

4/14/26

....

4,518

3,489

8280308.SQ.FTS.B

,

6

.155

%

,

4/14/26

....

7,492

72

a

8279451.SQ.FTS.B

,

6

.305

%

,

4/14/26

....

115

102

a

8279403.SQ.FTS.B

,

6

.331

%

,

4/14/26

....

1,220

814

a

8279479.SQ.FTS.B

,

6

.424

%

,

4/14/26

....

6,521

3,099

a

8279549.SQ.FTS.B

,

6

.425

%

,

4/14/26

....

980

941

a

8281101.SQ.FTS.B

,

4

.78

%

,

4/15/26

.....

5,681

5,586

a

8282208.SQ.FTS.B

,

4

.78

%

,

4/15/26

.....

2,540

2,471

a

8282400.SQ.FTS.B

,

4

.78

%

,

4/15/26

.....

348

346

a

8283289.SQ.FTS.B

,

4

.78

%

,

4/15/26

.....

9,396

8,910

a

8283650.SQ.FTS.B

,

5

.117

%

,

4/15/26

....

1,420

1,409

a

8283015.SQ.FTS.B

,

5

.66

%

,

4/15/26

.....

3,322

3,281

a

8284415.SQ.FTS.B

,

5

.922

%

,

4/15/26

....

988

405

a

8282315.SQ.FTS.B

,

6

.149

%

,

4/15/26

....

4,029

647

a

8282366.SQ.FTS.B

,

6

.15

%

,

4/15/26

.....

1,044

725

8281351.SQ.FTS.B

,

6

.344

%

,

4/15/26

....

485

104

a

8281096.SQ.FTS.B

,

6

.415

%

,

4/15/26

....

285

276

a

8282998.SQ.FTS.B

,

6

.653

%

,

4/15/26

....

334

316

a

8288271.SQ.FTS.B

,

4

.779

%

,

4/16/26

....

5,677

5,475

a

8284925.SQ.FTS.B

,

4

.78

%

,

4/16/26

.....

3,647

3,545

a

8286793.SQ.FTS.B

,

4

.78

%

,

4/16/26

.....

39,150

38,383

a

8285337.SQ.FTS.B

,

4

.786

%

,

4/16/26

....

14

14

a

8286725.SQ.FTS.B

,

5

.111

%

,

4/16/26

....

1,633

1,613

a

8286613.SQ.FTS.B

,

5

.119

%

,

4/16/26

....

1,065

980

a

8286393.SQ.FTS.B

,

5

.409

%

,

4/16/26

....

5,881

5,800

a

8287706.SQ.FTS.B

,

5

.409

%

,

4/16/26

....

1,901

1,893

8285213.SQ.FTS.B

,

5

.633

%

,

4/16/26

....

8,446

86

a

8285029.SQ.FTS.B

,

5

.902

%

,

4/16/26

....

774

662

a

8286038.SQ.FTS.B

,

6

.145

%

,

4/16/26

....

1,276

1,180

a

8285037.SQ.FTS.B

,

6

.15

%

,

4/16/26

.....

5,198

4,866

a

8292753.SQ.FTS.B

,

4

.778

%

,

4/17/26

....

2,871

2,403

a

8291469.SQ.FTS.B

,

4

.779

%

,

4/17/26

....

3,250

3,200

a

8293871.SQ.FTS.B

,

4

.779

%

,

4/17/26

....

10,861

10,627

a

8290938.SQ.FTS.B

,

4

.78

%

,

4/17/26

.....

3,231

3,169

a

8292550.SQ.FTS.B

,

4

.78

%

,

4/17/26

.....

4,420

4,304

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8293173.SQ.FTS.B

,

4

.78

%

,

4/17/26

.....

$

13,020

$

12,874

a

8291150.SQ.FTS.B

,

4

.781

%

,

4/17/26

....

1,641

1,611

a

8292280.SQ.FTS.B

,

4

.781

%

,

4/17/26

....

5,599

5,503

a

8293129.SQ.FTS.B

,

5

.113

%

,

4/17/26

....

1,675

1,434

a

8292991.SQ.FTS.B

,

5

.664

%

,

4/17/26

....

3,944

3,637

a

8294957.SQ.FTS.B

,

6

.316

%

,

4/17/26

....

893

592

8292229.SQ.FTS.B

,

6

.42

%

,

4/17/26

.....

2,095

54

a

8294210.SQ.FTS.B

,

6

.682

%

,

4/17/26

....

788

616

a

8298273.SQ.FTS.B

,

4

.775

%

,

4/18/26

....

1,132

1,105

a

8295160.SQ.FTS.B

,

4

.778

%

,

4/18/26

....

4,287

4,142

a

8295387.SQ.FTS.B

,

4

.78

%

,

4/18/26

.....

5,379

5,254

a

8296644.SQ.FTS.B

,

4

.78

%

,

4/18/26

.....

1,458

1,439

a

8297551.SQ.FTS.B

,

4

.78

%

,

4/18/26

.....

3,925

3,734

a

8296979.SQ.FTS.B

,

5

.409

%

,

4/18/26

....

11,848

11,711

a

8295315.SQ.FTS.B

,

5

.66

%

,

4/18/26

.....

1,264

1,210

a

8297785.SQ.FTS.B

,

5

.666

%

,

4/18/26

....

523

521

a

8298013.SQ.FTS.B

,

6

.15

%

,

4/18/26

.....

1,820

1,597

a

8296767.SQ.FTS.B

,

6

.151

%

,

4/18/26

....

1,315

1,307

a

8298299.SQ.FTS.B

,

6

.152

%

,

4/18/26

....

3,043

825

a

8296447.SQ.FTS.B

,

6

.338

%

,

4/18/26

....

126

120

a

8298594.SQ.FTS.B

,

4

.777

%

,

4/19/26

....

3,131

3,074

a

8299079.SQ.FTS.B

,

4

.78

%

,

4/19/26

.....

398

393

a

8298679.SQ.FTS.B

,

5

.111

%

,

4/19/26

....

5,187

4,297

a

8298741.SQ.FTS.B

,

5

.111

%

,

4/19/26

....

4,593

4,272

a

8298839.SQ.FTS.B

,

5

.115

%

,

4/19/26

....

976

955

a

8298818.SQ.FTS.B

,

5

.121

%

,

4/19/26

....

1,606

1,261

a

8298862.SQ.FTS.B

,

6

.688

%

,

4/19/26

....

900

709

a

8299899.SQ.FTS.B

,

4

.776

%

,

4/20/26

....

2,545

2,499

a

8299789.SQ.FTS.B

,

4

.778

%

,

4/20/26

....

4,059

3,995

a

8300274.SQ.FTS.B

,

4

.778

%

,

4/20/26

....

4,542

4,466

a

8300402.SQ.FTS.B

,

4

.78

%

,

4/20/26

.....

1,329

1,318

a

8299648.SQ.FTS.B

,

4

.781

%

,

4/20/26

....

4,353

4,274

a

8299967.SQ.FTS.B

,

5

.402

%

,

4/20/26

....

1,523

1,497

a

8301919.SQ.FTS.B

,

4

.78

%

,

4/21/26

.....

2,635

2,593

a

8302564.SQ.FTS.B

,

4

.781

%

,

4/21/26

....

10,210

10,081

a

8301181.SQ.FTS.B

,

4

.786

%

,

4/21/26

....

1,383

1,356

a

8302264.SQ.FTS.B

,

4

.954

%

,

4/21/26

....

2,278

1,763

a

8302545.SQ.FTS.B

,

5

.1

%

,

4/21/26

......

1,539

1,233

a

8303202.SQ.FTS.B

,

5

.107

%

,

4/21/26

....

1,290

1,268

a

8304341.SQ.FTS.B

,

5

.112

%

,

4/21/26

....

5,923

5,147

a

8303780.SQ.FTS.B

,

5

.113

%

,

4/21/26

....

33,884

33,087

a

8303233.SQ.FTS.B

,

5

.408

%

,

4/21/26

....

4,022

3,882

a

8301821.SQ.FTS.B

,

5

.409

%

,

4/21/26

....

565

516

a

8303163.SQ.FTS.B

,

5

.409

%

,

4/21/26

....

632

602

a

8300994.SQ.FTS.B

,

5

.66

%

,

4/21/26

.....

220

218

a

8303564.SQ.FTS.B

,

5

.663

%

,

4/21/26

....

11,226

3,931

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

45

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8304434.SQ.FTS.B

,

5

.909

%

,

4/21/26

....

$

2,876

$

2,672

a

8304481.SQ.FTS.B

,

5

.912

%

,

4/21/26

....

1,094

1,087

a

8302396.SQ.FTS.B

,

6

.423

%

,

4/21/26

....

8,304

6,546

a

8302317.SQ.FTS.B

,

6

.541

%

,

4/21/26

....

423

376

a

8303679.SQ.FTS.B

,

6

.556

%

,

4/21/26

....

1,129

520

a

8302341.SQ.FTS.B

,

6

.557

%

,

4/21/26

....

270

268

a

8306357.SQ.FTS.B

,

4

.778

%

,

4/22/26

....

3,457

3,361

a

8306297.SQ.FTS.B

,

4

.779

%

,

4/22/26

....

2,392

2,285

a

8305030.SQ.FTS.B

,

4

.78

%

,

4/22/26

.....

1,790

1,746

a

8307039.SQ.FTS.B

,

4

.78

%

,

4/22/26

.....

1,367

1,345

a

8306790.SQ.FTS.B

,

4

.781

%

,

4/22/26

....

3,805

3,747

a

8304759.SQ.FTS.B

,

4

.782

%

,

4/22/26

....

4,373

4,295

a

8306433.SQ.FTS.B

,

4

.784

%

,

4/22/26

....

1,182

1,143

a

8307029.SQ.FTS.B

,

5

.099

%

,

4/22/26

....

864

805

a

8306899.SQ.FTS.B

,

5

.409

%

,

4/22/26

....

2,027

2,011

a

8308013.SQ.FTS.B

,

5

.634

%

,

4/22/26

....

979

577

a

8307100.SQ.FTS.B

,

5

.66

%

,

4/22/26

.....

8,017

7,828

a

8305112.SQ.FTS.B

,

5

.917

%

,

4/22/26

....

2,618

2,488

a

8305959.SQ.FTS.B

,

6

.546

%

,

4/22/26

....

483

469

a

8309624.SQ.FTS.B

,

4

.779

%

,

4/23/26

....

2,091

2,058

a

8309336.SQ.FTS.B

,

4

.78

%

,

4/23/26

.....

6,138

4,308

a

8310146.SQ.FTS.B

,

4

.78

%

,

4/23/26

.....

11,160

10,871

a

8310385.SQ.FTS.B

,

4

.78

%

,

4/23/26

.....

46,247

40,159

a

8311336.SQ.FTS.B

,

4

.78

%

,

4/23/26

.....

39,214

37,879

a

8308097.SQ.FTS.B

,

4

.781

%

,

4/23/26

....

4,155

4,082

a

8311091.SQ.FTS.B

,

4

.781

%

,

4/23/26

....

9,941

9,683

a

8309988.SQ.FTS.B

,

4

.782

%

,

4/23/26

....

1,859

1,838

a

8309978.SQ.FTS.B

,

4

.79

%

,

4/23/26

.....

538

524

a

8309214.SQ.FTS.B

,

4

.957

%

,

4/23/26

....

5,685

3,891

a

8309853.SQ.FTS.B

,

5

.115

%

,

4/23/26

....

5,064

4,897

a

8308554.SQ.FTS.B

,

5

.663

%

,

4/23/26

....

3,729

3,654

a

8308336.SQ.FTS.B

,

5

.665

%

,

4/23/26

....

2,410

2,344

8308309.SQ.FTS.B

,

6

.326

%

,

4/23/26

....

1,253

10

a

8310986.SQ.FTS.B

,

6

.545

%

,

4/23/26

....

3,308

2,938

a

8315066.SQ.FTS.B

,

4

.779

%

,

4/24/26

....

13,443

11,228

a

8315595.SQ.FTS.B

,

4

.78

%

,

4/24/26

.....

5,031

4,933

a

8316584.SQ.FTS.B

,

4

.78

%

,

4/24/26

.....

3,841

3,705

a

8314427.SQ.FTS.B

,

4

.781

%

,

4/24/26

....

4,382

4,334

a

8314799.SQ.FTS.B

,

4

.782

%

,

4/24/26

....

7,681

7,327

8316445.SQ.FTS.B

,

4

.957

%

,

4/24/26

....

10,154

213

a

8316725.SQ.FTS.B

,

5

.113

%

,

4/24/26

....

20,569

20,307

a

8315868.SQ.FTS.B

,

5

.114

%

,

4/24/26

....

14,149

13,247

a

8316276.SQ.FTS.B

,

5

.913

%

,

4/24/26

....

4,563

4,186

8313533.SQ.FTS.B

,

6

.136

%

,

4/24/26

....

1,816

393

a

8315846.SQ.FTS.B

,

6

.441

%

,

4/24/26

....

409

400

a

8313568.SQ.FTS.B

,

6

.546

%

,

4/24/26

....

3,456

2,225

a

8318972.SQ.FTS.B

,

4

.78

%

,

4/25/26

.....

19,329

18,813

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8320369.SQ.FTS.B

,

5

.112

%

,

4/25/26

....

$

14,955

$

9,985

a

8317690.SQ.FTS.B

,

5

.114

%

,

4/25/26

....

3,301

3,196

a

8317674.SQ.FTS.B

,

5

.406

%

,

4/25/26

....

1,400

291

a

8317433.SQ.FTS.B

,

5

.413

%

,

4/25/26

....

2,647

2,584

a

8318671.SQ.FTS.B

,

6

.546

%

,

4/25/26

....

7,569

5,890

a

8321686.SQ.FTS.B

,

4

.775

%

,

4/26/26

....

1,978

1,941

a

8321744.SQ.FTS.B

,

4

.78

%

,

4/26/26

.....

6,133

6,033

a

8321389.SQ.FTS.B

,

4

.781

%

,

4/26/26

....

3,698

3,599

a

8321450.SQ.FTS.B

,

4

.781

%

,

4/26/26

....

8,729

8,482

a

8321599.SQ.FTS.B

,

4

.781

%

,

4/26/26

....

3,227

3,178

a

8321074.SQ.FTS.B

,

4

.955

%

,

4/26/26

....

605

508

a

8321089.SQ.FTS.B

,

6

.559

%

,

4/26/26

....

1,653

942

a

8321123.SQ.FTS.B

,

6

.671

%

,

4/26/26

....

3,403

3,081

a

8322629.SQ.FTS.B

,

4

.78

%

,

4/27/26

.....

1,831

1,799

a

8322553.SQ.FTS.B

,

5

.408

%

,

4/27/26

....

914

896

a

8322538.SQ.FTS.B

,

6

.149

%

,

4/27/26

....

1,683

1,225

a

8323655.SQ.FTS.B

,

4

.778

%

,

4/28/26

....

2,498

2,463

a

8324145.SQ.FTS.B

,

4

.78

%

,

4/28/26

.....

2,104

2,032

a

8324346.SQ.FTS.B

,

4

.78

%

,

4/28/26

.....

8,894

8,663

a

8323909.SQ.FTS.B

,

4

.784

%

,

4/28/26

....

2,053

2,026

a

8327001.SQ.FTS.B

,

4

.784

%

,

4/28/26

....

2,724

2,656

a

8327119.SQ.FTS.B

,

4

.784

%

,

4/28/26

....

2,072

2,043

a

8324605.SQ.FTS.B

,

5

.116

%

,

4/28/26

....

4,141

3,483

a

8326682.SQ.FTS.B

,

5

.409

%

,

4/28/26

....

3,129

3,045

a

8323551.SQ.FTS.B

,

5

.666

%

,

4/28/26

....

2,034

1,996

a

8325733.SQ.FTS.B

,

5

.913

%

,

4/28/26

....

4,737

4,128

a

8324750.SQ.FTS.B

,

6

.421

%

,

4/28/26

....

4,071

2,921

a

8328785.SQ.FTS.B

,

4

.779

%

,

4/29/26

....

10,199

8,489

a

8330187.SQ.FTS.B

,

4

.78

%

,

4/29/26

.....

20,436

19,989

a

8330598.SQ.FTS.B

,

4

.78

%

,

4/29/26

.....

2,062

2,030

a

8330888.SQ.FTS.B

,

4

.78

%

,

4/29/26

.....

2,757

2,681

a

8329010.SQ.FTS.B

,

4

.781

%

,

4/29/26

....

7,611

7,435

a

8329315.SQ.FTS.B

,

4

.781

%

,

4/29/26

....

6,964

6,832

a

8328677.SQ.FTS.B

,

4

.783

%

,

4/29/26

....

1,133

1,112

a

8330966.SQ.FTS.B

,

5

.408

%

,

4/29/26

....

22,389

17,020

a

8328333.SQ.FTS.B

,

5

.41

%

,

4/29/26

.....

5,423

5,250

a

8327958.SQ.FTS.B

,

5

.912

%

,

4/29/26

....

4,108

1,928

a

8327208.SQ.FTS.B

,

6

.132

%

,

4/29/26

....

751

672

a

8328083.SQ.FTS.B

,

6

.151

%

,

4/29/26

....

5,715

4,532

a

8329221.SQ.FTS.B

,

6

.154

%

,

4/29/26

....

3,535

2,915

8328595.SQ.FTS.B

,

6

.421

%

,

4/29/26

....

1,147

390

a

8330707.SQ.FTS.B

,

6

.421

%

,

4/29/26

....

2,299

2,246

a

8327659.SQ.FTS.B

,

6

.422

%

,

4/29/26

....

1,103

893

a

8329972.SQ.FTS.B

,

6

.424

%

,

4/29/26

....

2,440

2,315

a

8330680.SQ.FTS.B

,

6

.534

%

,

4/29/26

....

1,189

759

a

8330043.SQ.FTS.B

,

6

.667

%

,

4/29/26

....

1,411

1,301

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

46

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8336686.SQ.FTS.B

,

4

.778

%

,

4/30/26

....

$

5,314

$

5,223

a

8334149.SQ.FTS.B

,

4

.779

%

,

4/30/26

....

7,216

7,097

a

8330997.SQ.FTS.B

,

4

.78

%

,

4/30/26

.....

3,198

3,177

a

8331456.SQ.FTS.B

,

4

.78

%

,

4/30/26

.....

4,004

3,946

a

8333019.SQ.FTS.B

,

4

.78

%

,

4/30/26

.....

6,111

5,991

a

8334249.SQ.FTS.B

,

4

.78

%

,

4/30/26

.....

27,241

26,351

a

8337816.SQ.FTS.B

,

4

.78

%

,

4/30/26

.....

4,452

4,392

a

8337918.SQ.FTS.B

,

4

.78

%

,

4/30/26

.....

17,903

15,093

a

8338310.SQ.FTS.B

,

4

.78

%

,

4/30/26

.....

975

963

a

8338723.SQ.FTS.B

,

4

.78

%

,

4/30/26

.....

10,936

10,727

a

8332129.SQ.FTS.B

,

4

.781

%

,

4/30/26

....

2,555

2,518

a

8333227.SQ.FTS.B

,

4

.781

%

,

4/30/26

....

8,888

6,885

a

8333827.SQ.FTS.B

,

4

.781

%

,

4/30/26

....

14,594

13,917

a

8338249.SQ.FTS.B

,

4

.784

%

,

4/30/26

....

1,960

1,926

a

8332292.SQ.FTS.B

,

5

.111

%

,

4/30/26

....

6,143

4,290

a

8333321.SQ.FTS.B

,

5

.111

%

,

4/30/26

....

4,764

4,649

a

8333558.SQ.FTS.B

,

5

.113

%

,

4/30/26

....

11,656

11,481

a

8336941.SQ.FTS.B

,

5

.114

%

,

4/30/26

....

7,469

7,114

a

8339146.SQ.FTS.B

,

5

.114

%

,

4/30/26

....

25,130

24,329

a

8340102.SQ.FTS.B

,

5

.398

%

,

4/30/26

....

1,747

1,323

a

8333216.SQ.FTS.B

,

5

.66

%

,

4/30/26

.....

2,423

1,551

a

8340107.SQ.FTS.B

,

6

.139

%

,

4/30/26

....

855

827

8332399.SQ.FTS.B

,

6

.15

%

,

4/30/26

.....

20,377

3,741

a

8333168.SQ.FTS.B

,

6

.151

%

,

4/30/26

....

3,043

2,119

a

8332583.SQ.FTS.B

,

6

.153

%

,

4/30/26

....

1,366

1,225

a

8339541.SQ.FTS.B

,

6

.315

%

,

4/30/26

....

2,268

202

a

8339553.SQ.FTS.B

,

6

.412

%

,

4/30/26

....

402

369

a

8338410.SQ.FTS.B

,

6

.559

%

,

4/30/26

....

679

478

a

8333157.SQ.FTS.B

,

6

.682

%

,

4/30/26

....

2,593

418

a

8343288.SQ.FTS.B

,

4

.78

%

,

5/01/26

.....

14,256

13,880

a

8343150.SQ.FTS.B

,

5

.62

%

,

5/01/26

.....

163

161

a

8342511.SQ.FTS.B

,

5

.66

%

,

5/01/26

.....

37,363

31,892

a

8340759.SQ.FTS.B

,

5

.915

%

,

5/01/26

....

1,102

1,062

a

8340885.SQ.FTS.B

,

6

.33

%

,

5/01/26

.....

1,640

1,352

a

8341323.SQ.FTS.B

,

6

.421

%

,

5/01/26

....

3,729

800

a

8343577.SQ.FTS.B

,

6

.547

%

,

5/01/26

....

18,119

11,656

a

8340603.SQ.FTS.B

,

6

.68

%

,

5/01/26

.....

1,635

1,480

a

8344213.SQ.FTS.B

,

4

.79

%

,

5/02/26

.....

1,724

1,645

a

8344811.SQ.FTS.B

,

5

.404

%

,

5/02/26

....

5,262

1,387

a

8344256.SQ.FTS.B

,

5

.675

%

,

5/02/26

....

1,179

964

a

8344793.SQ.FTS.B

,

6

.136

%

,

5/02/26

....

33

33

a

8344675.SQ.FTS.B

,

6

.148

%

,

5/02/26

....

3,380

3,214

a

8344755.SQ.FTS.B

,

6

.661

%

,

5/02/26

....

990

12

a

8343928.SQ.FTS.B

,

6

.667

%

,

5/02/26

....

335

307

a

8345363.SQ.FTS.B

,

4

.78

%

,

5/03/26

.....

1,542

1,507

a

8345737.SQ.FTS.B

,

5

.112

%

,

5/03/26

....

3,801

3,601

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8345610.SQ.FTS.B

,

5

.113

%

,

5/03/26

....

$

4,136

$

4,069

a

8345124.SQ.FTS.B

,

5

.402

%

,

5/03/26

....

3,067

2,362

a

8345516.SQ.FTS.B

,

5

.407

%

,

5/03/26

....

6,856

4,806

a

8345153.SQ.FTS.B

,

5

.41

%

,

5/03/26

.....

14,212

13,719

a

8344915.SQ.FTS.B

,

6

.15

%

,

5/03/26

.....

1,413

1,377

a

8345109.SQ.FTS.B

,

6

.159

%

,

5/03/26

....

947

910

a

8345591.SQ.FTS.B

,

6

.408

%

,

5/03/26

....

628

555

a

8347537.SQ.FTS.B

,

4

.777

%

,

5/04/26

....

2,670

2,630

a

8347036.SQ.FTS.B

,

4

.778

%

,

5/04/26

....

2,858

2,804

a

8349679.SQ.FTS.B

,

4

.778

%

,

5/04/26

....

6,685

6,285

a

8347607.SQ.FTS.B

,

4

.779

%

,

5/04/26

....

17,338

14,268

a

8348033.SQ.FTS.B

,

4

.78

%

,

5/04/26

.....

3,240

3,191

a

8348351.SQ.FTS.B

,

4

.78

%

,

5/04/26

.....

3,295

3,254

a

8349584.SQ.FTS.B

,

4

.782

%

,

5/04/26

....

3,216

3,134

a

8348948.SQ.FTS.B

,

5

.111

%

,

5/04/26

....

2,229

2,167

a

8347287.SQ.FTS.B

,

5

.114

%

,

5/04/26

....

2,337

2,325

a

8347937.SQ.FTS.B

,

5

.115

%

,

5/04/26

....

8,263

6,915

a

8348817.SQ.FTS.B

,

5

.116

%

,

5/04/26

....

7,102

5,134

a

8347238.SQ.FTS.B

,

5

.409

%

,

5/04/26

....

3,179

2,562

a

8346835.SQ.FTS.B

,

5

.66

%

,

5/04/26

.....

2,866

2,819

a

8348639.SQ.FTS.B

,

5

.66

%

,

5/04/26

.....

1,969

1,906

a

8348753.SQ.FTS.B

,

5

.66

%

,

5/04/26

.....

1,626

1,553

a

8349302.SQ.FTS.B

,

5

.66

%

,

5/04/26

.....

11,278

10,476

a

8349636.SQ.FTS.B

,

5

.66

%

,

5/04/26

.....

704

692

a

8347872.SQ.FTS.B

,

5

.912

%

,

5/04/26

....

2,218

2,169

a

8349539.SQ.FTS.B

,

5

.912

%

,

5/04/26

....

1,994

1,618

8345940.SQ.FTS.B

,

5

.913

%

,

5/04/26

....

17,452

2,414

a

8346312.SQ.FTS.B

,

6

.418

%

,

5/04/26

....

2,033

1,958

a

8348693.SQ.FTS.B

,

6

.424

%

,

5/04/26

....

2,909

944

a

8348474.SQ.FTS.B

,

6

.439

%

,

5/04/26

....

790

501

a

8346672.SQ.FTS.B

,

6

.55

%

,

5/04/26

.....

4,695

3,872

a

8347846.SQ.FTS.B

,

6

.671

%

,

5/04/26

....

2,325

1,945

a

8351240.SQ.FTS.B

,

4

.78

%

,

5/05/26

.....

1,718

1,687

a

8351439.SQ.FTS.B

,

4

.78

%

,

5/05/26

.....

613

604

a

8352215.SQ.FTS.B

,

4

.78

%

,

5/05/26

.....

2,616

2,567

a

8353078.SQ.FTS.B

,

4

.78

%

,

5/05/26

.....

2,720

2,655

a

8353267.SQ.FTS.B

,

5

.114

%

,

5/05/26

....

9,430

9,341

a

8349849.SQ.FTS.B

,

5

.115

%

,

5/05/26

....

4,296

4,176

a

8350773.SQ.FTS.B

,

5

.406

%

,

5/05/26

....

1,481

1,464

a

8351765.SQ.FTS.B

,

5

.408

%

,

5/05/26

....

3,367

3,313

a

8351268.SQ.FTS.B

,

5

.66

%

,

5/05/26

.....

9,283

3,736

a

8353154.SQ.FTS.B

,

5

.66

%

,

5/05/26

.....

5,102

4,646

a

8352836.SQ.FTS.B

,

5

.68

%

,

5/05/26

.....

375

371

a

8352958.SQ.FTS.B

,

5

.912

%

,

5/05/26

....

10,737

8,426

a

8353040.SQ.FTS.B

,

6

.147

%

,

5/05/26

....

3,216

2,531

a

8351528.SQ.FTS.B

,

6

.321

%

,

5/05/26

....

1,721

492

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

47

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8352179.SQ.FTS.B

,

6

.667

%

,

5/05/26

....

$

706

$

625

a

8355418.SQ.FTS.B

,

4

.777

%

,

5/06/26

....

3,656

3,146

a

8354621.SQ.FTS.B

,

5

.115

%

,

5/06/26

....

1,684

1,600

a

8355680.SQ.FTS.B

,

5

.115

%

,

5/06/26

....

6,234

5,194

a

8355777.SQ.FTS.B

,

5

.904

%

,

5/06/26

....

1,592

1,367

a

8354506.SQ.FTS.B

,

5

.912

%

,

5/06/26

....

1,010

958

a

8354650.SQ.FTS.B

,

5

.912

%

,

5/06/26

....

6,723

6,528

a

8355818.SQ.FTS.B

,

6

.148

%

,

5/06/26

....

5,793

4,965

a

8354862.SQ.FTS.B

,

6

.422

%

,

5/06/26

....

29,493

17,636

a

8355919.SQ.FTS.B

,

6

.422

%

,

5/06/26

....

67,234

38,629

a

8362170.SQ.FTS.B

,

4

.779

%

,

5/07/26

....

1,669

1,647

a

8363173.SQ.FTS.B

,

4

.78

%

,

5/07/26

.....

20,055

19,594

a

8362054.SQ.FTS.B

,

4

.783

%

,

5/07/26

....

3,479

3,382

a

8362955.SQ.FTS.B

,

5

.117

%

,

5/07/26

....

5,486

3,597

a

8362012.SQ.FTS.B

,

5

.121

%

,

5/07/26

....

1,296

1,263

a

8364366.SQ.FTS.B

,

5

.408

%

,

5/07/26

....

33,755

18,527

a

8360992.SQ.FTS.B

,

5

.66

%

,

5/07/26

.....

18,416

14,043

a

8360909.SQ.FTS.B

,

5

.904

%

,

5/07/26

....

1,530

1,259

a

8363762.SQ.FTS.B

,

6

.151

%

,

5/07/26

....

20,383

8,803

a

8362418.SQ.FTS.B

,

6

.324

%

,

5/07/26

....

2,078

1,943

a

8361519.SQ.FTS.B

,

6

.42

%

,

5/07/26

.....

5,898

3,723

a

8364244.SQ.FTS.B

,

6

.42

%

,

5/07/26

.....

6,973

1,177

a

8362533.SQ.FTS.B

,

6

.422

%

,

5/07/26

....

27,306

832

a

8364331.SQ.FTS.B

,

6

.554

%

,

5/07/26

....

280

276

a

8367102.SQ.FTS.B

,

4

.773

%

,

5/08/26

....

1,731

1,669

a

8365144.SQ.FTS.B

,

4

.777

%

,

5/08/26

....

4,175

4,064

a

8366261.SQ.FTS.B

,

4

.779

%

,

5/08/26

....

2,212

2,166

a

8364729.SQ.FTS.B

,

4

.78

%

,

5/08/26

.....

9,892

9,678

a

8368299.SQ.FTS.B

,

4

.78

%

,

5/08/26

.....

674

664

a

8368277.SQ.FTS.B

,

5

.113

%

,

5/08/26

....

7,687

7,276

a

8366505.SQ.FTS.B

,

5

.409

%

,

5/08/26

....

20,561

20,316

a

8367150.SQ.FTS.B

,

5

.409

%

,

5/08/26

....

3,623

3,391

a

8365031.SQ.FTS.B

,

5

.66

%

,

5/08/26

.....

4,451

3,790

a

8367866.SQ.FTS.B

,

5

.66

%

,

5/08/26

.....

10,703

10,583

a

8365908.SQ.FTS.B

,

6

.134

%

,

5/08/26

....

759

673

a

8367222.SQ.FTS.B

,

6

.152

%

,

5/08/26

....

2,139

1,959

a

8365780.SQ.FTS.B

,

6

.154

%

,

5/08/26

....

1,245

1,177

a

8366064.SQ.FTS.B

,

6

.421

%

,

5/08/26

....

5,380

3,171

a

8368738.SQ.FTS.B

,

4

.776

%

,

5/09/26

....

2,222

2,161

a

8369146.SQ.FTS.B

,

4

.78

%

,

5/09/26

.....

3,840

3,751

a

8368466.SQ.FTS.B

,

4

.781

%

,

5/09/26

....

13,147

12,541

a

8368681.SQ.FTS.B

,

5

.112

%

,

5/09/26

....

3,848

3,674

a

8368770.SQ.FTS.B

,

5

.115

%

,

5/09/26

....

2,366

2,229

a

8368798.SQ.FTS.B

,

5

.119

%

,

5/09/26

....

1,217

1,200

a

8368854.SQ.FTS.B

,

5

.66

%

,

5/09/26

.....

244

201

a

8368604.SQ.FTS.B

,

6

.152

%

,

5/09/26

....

3,607

3,446

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8369219.SQ.FTS.B

,

4

.78

%

,

5/10/26

.....

$

1,584

$

1,555

a

8369250.SQ.FTS.B

,

4

.78

%

,

5/10/26

.....

13,693

11,695

a

8369783.SQ.FTS.B

,

4

.78

%

,

5/10/26

.....

4,420

4,216

a

8369684.SQ.FTS.B

,

5

.41

%

,

5/10/26

.....

6,359

6,003

a

8369634.SQ.FTS.B

,

5

.66

%

,

5/10/26

.....

957

934

a

8369648.SQ.FTS.B

,

5

.66

%

,

5/10/26

.....

2,480

2,407

8369869.SQ.FTS.B

,

5

.92

%

,

5/10/26

.....

2,956

34

a

8369197.SQ.FTS.B

,

6

.42

%

,

5/10/26

.....

1,382

1,302

a

8369410.SQ.FTS.B

,

6

.569

%

,

5/10/26

....

632

463

a

8369900.SQ.FTS.B

,

6

.672

%

,

5/10/26

....

286

282

a

8370251.SQ.FTS.B

,

4

.777

%

,

5/11/26

....

1,185

1,165

a

8370104.SQ.FTS.B

,

4

.78

%

,

5/11/26

.....

1,979

1,923

a

8371197.SQ.FTS.B

,

4

.78

%

,

5/11/26

.....

1,986

1,950

a

8370834.SQ.FTS.B

,

4

.781

%

,

5/11/26

....

6,487

6,120

a

8371126.SQ.FTS.B

,

4

.781

%

,

5/11/26

....

5,050

4,914

a

8371464.SQ.FTS.B

,

4

.782

%

,

5/11/26

....

3,641

3,587

a

8370015.SQ.FTS.B

,

5

.112

%

,

5/11/26

....

1,641

1,597

a

8370539.SQ.FTS.B

,

5

.113

%

,

5/11/26

....

11,207

10,536

a

8370894.SQ.FTS.B

,

5

.409

%

,

5/11/26

....

17,303

16,980

a

8370077.SQ.FTS.B

,

5

.622

%

,

5/11/26

....

248

226

a

8370126.SQ.FTS.B

,

5

.66

%

,

5/11/26

.....

627

191

a

8370671.SQ.FTS.B

,

5

.665

%

,

5/11/26

....

3,644

3,526

a

8370081.SQ.FTS.B

,

6

.141

%

,

5/11/26

....

1,995

350

a

8370394.SQ.FTS.B

,

6

.151

%

,

5/11/26

....

3,892

2,897

a

8370467.SQ.FTS.B

,

6

.161

%

,

5/11/26

....

100

98

a

8370047.SQ.FTS.B

,

6

.557

%

,

5/11/26

....

1,200

960

a

8371496.SQ.FTS.B

,

6

.673

%

,

5/11/26

....

2,203

2,050

a

8371842.SQ.FTS.B

,

4

.778

%

,

5/12/26

....

4,297

4,226

a

8371977.SQ.FTS.B

,

4

.78

%

,

5/12/26

.....

20,188

19,526

a

8374581.SQ.FTS.B

,

4

.78

%

,

5/12/26

.....

7,262

7,132

a

8375211.SQ.FTS.B

,

4

.783

%

,

5/12/26

....

2,275

2,250

a

8374171.SQ.FTS.B

,

5

.108

%

,

5/12/26

....

1,228

1,208

a

8373130.SQ.FTS.B

,

5

.113

%

,

5/12/26

....

7,701

7,232

a

8374234.SQ.FTS.B

,

5

.114

%

,

5/12/26

....

1,075

1,065

a

8374369.SQ.FTS.B

,

5

.412

%

,

5/12/26

....

3,292

2,604

a

8374205.SQ.FTS.B

,

5

.671

%

,

5/12/26

....

1,004

979

a

8372923.SQ.FTS.B

,

5

.906

%

,

5/12/26

....

536

519

a

8374285.SQ.FTS.B

,

6

.148

%

,

5/12/26

....

3,204

2,457

a

8374309.SQ.FTS.B

,

6

.317

%

,

5/12/26

....

245

235

a

8374802.SQ.FTS.B

,

6

.421

%

,

5/12/26

....

12,381

10,228

a

8373313.SQ.FTS.B

,

6

.545

%

,

5/12/26

....

2,398

2,318

a

8373286.SQ.FTS.B

,

6

.681

%

,

5/12/26

....

1,898

1,206

a

8377495.SQ.FTS.B

,

4

.772

%

,

5/13/26

....

708

702

a

8376454.SQ.FTS.B

,

4

.779

%

,

5/13/26

....

4,187

4,093

a

8377471.SQ.FTS.B

,

4

.78

%

,

5/13/26

.....

2,201

2,158

a

8377793.SQ.FTS.B

,

4

.781

%

,

5/13/26

....

5,950

5,852

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

48

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8378351.SQ.FTS.B

,

4

.781

%

,

5/13/26

....

$

10,878

$

10,564

a

8375838.SQ.FTS.B

,

4

.784

%

,

5/13/26

....

2,738

2,685

a

8375331.SQ.FTS.B

,

4

.957

%

,

5/13/26

....

5,545

2,573

a

8376705.SQ.FTS.B

,

5

.113

%

,

5/13/26

....

18,711

18,462

a

8378037.SQ.FTS.B

,

5

.114

%

,

5/13/26

....

8,766

8,700

a

8377457.SQ.FTS.B

,

5

.115

%

,

5/13/26

....

852

800

a

8377671.SQ.FTS.B

,

5

.66

%

,

5/13/26

.....

3,627

3,534

a

8377558.SQ.FTS.B

,

5

.664

%

,

5/13/26

....

1,763

1,730

a

8376607.SQ.FTS.B

,

6

.153

%

,

5/13/26

....

5,169

4,593

a

8378529.SQ.FTS.B

,

6

.316

%

,

5/13/26

....

1,749

1,135

a

8384386.SQ.FTS.B

,

4

.777

%

,

5/14/26

....

3,419

3,345

a

8381194.SQ.FTS.B

,

4

.78

%

,

5/14/26

.....

2,815

2,764

a

8381872.SQ.FTS.B

,

4

.78

%

,

5/14/26

.....

1,723

1,695

a

8382948.SQ.FTS.B

,

4

.78

%

,

5/14/26

.....

2,913

2,844

a

8384453.SQ.FTS.B

,

4

.782

%

,

5/14/26

....

2,402

2,362

a

8381450.SQ.FTS.B

,

5

.115

%

,

5/14/26

....

4,622

4,445

a

8384150.SQ.FTS.B

,

5

.409

%

,

5/14/26

....

8,446

8,287

a

8383021.SQ.FTS.B

,

5

.66

%

,

5/14/26

.....

36,783

27,401

a

8383512.SQ.FTS.B

,

5

.66

%

,

5/14/26

.....

18,075

17,253

a

8381974.SQ.FTS.B

,

5

.912

%

,

5/14/26

....

6,596

6,287

a

8381866.SQ.FTS.B

,

6

.146

%

,

5/14/26

....

819

722

a

8381739.SQ.FTS.B

,

6

.154

%

,

5/14/26

....

5,042

4,154

a

8381346.SQ.FTS.B

,

6

.426

%

,

5/14/26

....

793

725

a

8382928.SQ.FTS.B

,

6

.691

%

,

5/14/26

....

847

193

a

8386601.SQ.FTS.B

,

4

.78

%

,

5/15/26

.....

10,835

10,499

a

8387711.SQ.FTS.B

,

4

.78

%

,

5/15/26

.....

1,090

1,053

a

8386063.SQ.FTS.B

,

4

.781

%

,

5/15/26

....

5,337

5,214

a

8387829.SQ.FTS.B

,

4

.781

%

,

5/15/26

....

10,354

8,831

a

8385980.SQ.FTS.B

,

4

.959

%

,

5/15/26

....

517

439

8384744.SQ.FTS.B

,

4

.965

%

,

5/15/26

....

903

8

a

8384495.SQ.FTS.B

,

5

.112

%

,

5/15/26

....

5,239

5,128

a

8387062.SQ.FTS.B

,

5

.114

%

,

5/15/26

....

7,189

7,047

a

8387244.SQ.FTS.B

,

5

.115

%

,

5/15/26

....

7,308

7,079

a

8385107.SQ.FTS.B

,

5

.117

%

,

5/15/26

....

2,830

2,755

a

8384758.SQ.FTS.B

,

5

.119

%

,

5/15/26

....

2,190

2,131

a

8384836.SQ.FTS.B

,

5

.667

%

,

5/15/26

....

1,841

1,774

a

8386006.SQ.FTS.B

,

5

.672

%

,

5/15/26

....

652

634

a

8387503.SQ.FTS.B

,

6

.421

%

,

5/15/26

....

806

800

a

8384801.SQ.FTS.B

,

6

.537

%

,

5/15/26

....

1,962

842

a

8385070.SQ.FTS.B

,

6

.681

%

,

5/15/26

....

713

619

a

8388609.SQ.FTS.B

,

4

.781

%

,

5/16/26

....

8,593

8,459

a

8387906.SQ.FTS.B

,

4

.782

%

,

5/16/26

....

941

923

a

8388025.SQ.FTS.B

,

4

.782

%

,

5/16/26

....

4,386

4,298

a

8388012.SQ.FTS.B

,

4

.962

%

,

5/16/26

....

426

299

a

8388161.SQ.FTS.B

,

5

.114

%

,

5/16/26

....

9,971

9,805

a

8388087.SQ.FTS.B

,

5

.646

%

,

5/16/26

....

413

388

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8387991.SQ.FTS.B

,

5

.912

%

,

5/16/26

....

$

137

$

136

a

8388112.SQ.FTS.B

,

5

.914

%

,

5/16/26

....

801

758

a

8388107.SQ.FTS.B

,

6

.157

%

,

5/16/26

....

330

314

a

8389216.SQ.FTS.B

,

4

.95

%

,

5/17/26

.....

2,640

191

a

8389470.SQ.FTS.B

,

5

.114

%

,

5/17/26

....

15,651

15,337

a

8389234.SQ.FTS.B

,

5

.116

%

,

5/17/26

....

4,876

4,495

a

8389162.SQ.FTS.B

,

5

.12

%

,

5/17/26

.....

2,750

2,290

a

8388857.SQ.FTS.B

,

5

.66

%

,

5/17/26

.....

31,001

24,931

a

8389413.SQ.FTS.B

,

6

.419

%

,

5/17/26

....

789

552

a

8392377.SQ.FTS.B

,

4

.778

%

,

5/18/26

....

4,413

4,292

a

8392956.SQ.FTS.B

,

4

.779

%

,

5/18/26

....

9,716

9,537

a

8390997.SQ.FTS.B

,

4

.78

%

,

5/18/26

.....

5,832

5,654

a

8391178.SQ.FTS.B

,

4

.78

%

,

5/18/26

.....

4,694

4,612

a

8391316.SQ.FTS.B

,

4

.78

%

,

5/18/26

.....

26,817

26,101

a

8392293.SQ.FTS.B

,

4

.78

%

,

5/18/26

.....

2,488

2,441

a

8391135.SQ.FTS.B

,

4

.787

%

,

5/18/26

....

879

868

a

8393391.SQ.FTS.B

,

4

.953

%

,

5/18/26

....

489

268

a

8391155.SQ.FTS.B

,

5

.104

%

,

5/18/26

....

1,043

1,029

a

8390289.SQ.FTS.B

,

5

.113

%

,

5/18/26

....

19,373

18,620

a

8392935.SQ.FTS.B

,

5

.122

%

,

5/18/26

....

637

627

a

8392328.SQ.FTS.B

,

5

.664

%

,

5/18/26

....

4,775

4,275

a

8392943.SQ.FTS.B

,

5

.677

%

,

5/18/26

....

1,210

1,042

a

8392094.SQ.FTS.B

,

5

.913

%

,

5/18/26

....

6,748

5,740

a

8391994.SQ.FTS.B

,

6

.325

%

,

5/18/26

....

1,074

156

a

8393363.SQ.FTS.B

,

6

.327

%

,

5/18/26

....

1,230

1,165

8392006.SQ.FTS.B

,

6

.415

%

,

5/18/26

....

2,186

18

a

8392026.SQ.FTS.B

,

6

.55

%

,

5/18/26

.....

1,771

1,732

a

8393213.SQ.FTS.B

,

6

.673

%

,

5/18/26

....

1,402

1,255

a

8394030.SQ.FTS.B

,

4

.769

%

,

5/19/26

....

646

625

a

8395196.SQ.FTS.B

,

4

.779

%

,

5/19/26

....

10,319

10,146

a

8393617.SQ.FTS.B

,

4

.78

%

,

5/19/26

.....

7,645

7,519

a

8394048.SQ.FTS.B

,

4

.78

%

,

5/19/26

.....

5,502

5,395

a

8394529.SQ.FTS.B

,

4

.78

%

,

5/19/26

.....

5,716

5,616

a

8395846.SQ.FTS.B

,

4

.78

%

,

5/19/26

.....

9,830

9,645

a

8396193.SQ.FTS.B

,

4

.78

%

,

5/19/26

.....

28,087

26,762

a

8396735.SQ.FTS.B

,

5

.113

%

,

5/19/26

....

23,440

23,035

a

8396118.SQ.FTS.B

,

5

.409

%

,

5/19/26

....

3,061

2,930

a

8393873.SQ.FTS.B

,

6

.404

%

,

5/19/26

....

290

281

a

8394291.SQ.FTS.B

,

6

.417

%

,

5/19/26

....

1,056

966

a

8393879.SQ.FTS.B

,

6

.421

%

,

5/19/26

....

355

345

a

8398979.SQ.FTS.B

,

4

.777

%

,

5/20/26

....

3,605

3,537

a

8398647.SQ.FTS.B

,

4

.778

%

,

5/20/26

....

4,795

4,718

a

8400517.SQ.FTS.B

,

4

.778

%

,

5/20/26

....

6,513

6,382

a

8399504.SQ.FTS.B

,

4

.78

%

,

5/20/26

.....

26,392

25,205

a

8400307.SQ.FTS.B

,

4

.78

%

,

5/20/26

.....

2,626

2,482

a

8400963.SQ.FTS.B

,

4

.78

%

,

5/20/26

.....

3,109

3,049

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

49

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8397850.SQ.FTS.B

,

4

.781

%

,

5/20/26

....

$

13,240

$

13,001

a

8398933.SQ.FTS.B

,

5

.107

%

,

5/20/26

....

212

211

a

8401027.SQ.FTS.B

,

5

.113

%

,

5/20/26

....

12,719

12,562

a

8399103.SQ.FTS.B

,

5

.115

%

,

5/20/26

....

15,223

10,855

a

8400621.SQ.FTS.B

,

5

.118

%

,

5/20/26

....

4,250

3,881

a

8398559.SQ.FTS.B

,

5

.407

%

,

5/20/26

....

403

400

a

8397246.SQ.FTS.B

,

5

.409

%

,

5/20/26

....

10,892

10,746

a

8400330.SQ.FTS.B

,

5

.409

%

,

5/20/26

....

2,509

2,476

a

8398847.SQ.FTS.B

,

5

.667

%

,

5/20/26

....

3,217

2,645

a

8399971.SQ.FTS.B

,

6

.152

%

,

5/20/26

....

4,470

4,442

a

8400515.SQ.FTS.B

,

6

.289

%

,

5/20/26

....

38

37

a

8400919.SQ.FTS.B

,

6

.425

%

,

5/20/26

....

3,031

1,470

a

8400298.SQ.FTS.B

,

6

.551

%

,

5/20/26

....

1,142

158

a

8405836.SQ.FTS.B

,

4

.779

%

,

5/21/26

....

32,387

27,969

a

8404317.SQ.FTS.B

,

4

.78

%

,

5/21/26

.....

1,384

1,364

a

8404855.SQ.FTS.B

,

4

.78

%

,

5/21/26

.....

17,336

16,716

a

8405333.SQ.FTS.B

,

4

.78

%

,

5/21/26

.....

2,505

2,458

a

8406291.SQ.FTS.B

,

4

.78

%

,

5/21/26

.....

8,071

7,950

a

8405479.SQ.FTS.B

,

5

.102

%

,

5/21/26

....

471

467

a

8407535.SQ.FTS.B

,

5

.113

%

,

5/21/26

....

39,340

33,648

a

8403433.SQ.FTS.B

,

5

.409

%

,

5/21/26

....

23,956

23,338

a

8406513.SQ.FTS.B

,

5

.66

%

,

5/21/26

.....

9,745

9,649

a

8405494.SQ.FTS.B

,

5

.666

%

,

5/21/26

....

2,773

2,596

a

8405236.SQ.FTS.B

,

5

.676

%

,

5/21/26

....

449

434

a

8407488.SQ.FTS.B

,

6

.327

%

,

5/21/26

....

8,012

3,509

a

8405532.SQ.FTS.B

,

6

.422

%

,

5/21/26

....

6,842

6,450

a

8412470.SQ.FTS.B

,

4

.78

%

,

5/22/26

.....

1,856

1,814

a

8409080.SQ.FTS.B

,

4

.781

%

,

5/22/26

....

4,371

4,230

a

8409788.SQ.FTS.B

,

4

.781

%

,

5/22/26

....

9,590

9,429

a

8409455.SQ.FTS.B

,

4

.782

%

,

5/22/26

....

2,390

2,366

a

8409622.SQ.FTS.B

,

5

.121

%

,

5/22/26

....

754

743

a

8412395.SQ.FTS.B

,

5

.66

%

,

5/22/26

.....

3,115

2,066

a

8412603.SQ.FTS.B

,

6

.426

%

,

5/22/26

....

2,634

2,451

a

8413138.SQ.FTS.B

,

4

.777

%

,

5/23/26

....

3,080

3,034

a

8413717.SQ.FTS.B

,

4

.777

%

,

5/23/26

....

6,685

959

a

8413636.SQ.FTS.B

,

4

.778

%

,

5/23/26

....

2,024

2,001

a

8413463.SQ.FTS.B

,

4

.78

%

,

5/23/26

.....

4,755

4,495

a

8413790.SQ.FTS.B

,

4

.78

%

,

5/23/26

.....

1,862

1,781

a

8413337.SQ.FTS.B

,

4

.786

%

,

5/23/26

....

3,464

2,901

a

8413815.SQ.FTS.B

,

5

.916

%

,

5/23/26

....

1,694

1,669

a

8414468.SQ.FTS.B

,

4

.778

%

,

5/24/26

....

2,193

2,135

a

8414393.SQ.FTS.B

,

4

.78

%

,

5/24/26

.....

2,881

2,817

a

8414502.SQ.FTS.B

,

4

.782

%

,

5/24/26

....

4,804

4,091

a

8414163.SQ.FTS.B

,

4

.784

%

,

5/24/26

....

1,794

1,716

a

8414189.SQ.FTS.B

,

5

.114

%

,

5/24/26

....

11,041

10,526

a

8416999.SQ.FTS.B

,

4

.78

%

,

5/25/26

.....

1,620

1,591

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8417855.SQ.FTS.B

,

4

.78

%

,

5/25/26

.....

$

1,652

$

1,619

a

8418722.SQ.FTS.B

,

4

.78

%

,

5/25/26

.....

17,363

17,051

a

8417424.SQ.FTS.B

,

4

.782

%

,

5/25/26

....

3,621

3,524

a

8414735.SQ.FTS.B

,

5

.108

%

,

5/25/26

....

1,748

1,697

a

8417904.SQ.FTS.B

,

5

.408

%

,

5/25/26

....

2,228

2,167

a

8419127.SQ.FTS.B

,

5

.408

%

,

5/25/26

....

18,700

18,265

a

8417501.SQ.FTS.B

,

5

.409

%

,

5/25/26

....

3,558

3,519

a

8417970.SQ.FTS.B

,

6

.151

%

,

5/25/26

....

21,784

21,092

a

8416979.SQ.FTS.B

,

6

.152

%

,

5/25/26

....

992

833

a

8416582.SQ.FTS.B

,

6

.153

%

,

5/25/26

....

2,864

2,777

a

8415316.SQ.FTS.B

,

6

.421

%

,

5/25/26

....

1,677

1,669

8417212.SQ.FTS.B

,

6

.535

%

,

5/25/26

....

2,610

15

a

8424509.SQ.FTS.B

,

4

.776

%

,

5/26/26

....

2,073

1,999

a

8421680.SQ.FTS.B

,

4

.78

%

,

5/26/26

.....

725

708

a

8421885.SQ.FTS.B

,

4

.78

%

,

5/26/26

.....

6,036

5,900

a

8422864.SQ.FTS.B

,

4

.78

%

,

5/26/26

.....

35,492

33,020

a

8422784.SQ.FTS.B

,

4

.783

%

,

5/26/26

....

2,741

2,699

a

8424072.SQ.FTS.B

,

5

.111

%

,

5/26/26

....

8,536

8,150

a

8421698.SQ.FTS.B

,

5

.113

%

,

5/26/26

....

5,131

5,029

a

8424293.SQ.FTS.B

,

5

.402

%

,

5/26/26

....

687

678

a

8424599.SQ.FTS.B

,

5

.411

%

,

5/26/26

....

5,722

5,483

a

8424330.SQ.FTS.B

,

5

.637

%

,

5/26/26

....

5,073

4,371

a

8424559.SQ.FTS.B

,

5

.66

%

,

5/26/26

.....

1,813

1,709

a

8424693.SQ.FTS.B

,

5

.66

%

,

5/26/26

.....

1,284

1,244

8423748.SQ.FTS.B

,

6

.421

%

,

5/26/26

....

27,432

798

a

8421165.SQ.FTS.B

,

6

.672

%

,

5/26/26

....

37,498

14,389

a

8430503.SQ.FTS.B

,

4

.778

%

,

5/27/26

....

2,934

2,874

a

8431541.SQ.FTS.B

,

4

.778

%

,

5/27/26

....

5,384

5,281

a

8427251.SQ.FTS.B

,

4

.78

%

,

5/27/26

.....

9,243

9,113

a

8427914.SQ.FTS.B

,

4

.78

%

,

5/27/26

.....

12,746

11,075

a

8428311.SQ.FTS.B

,

5

.409

%

,

5/27/26

....

11,186

10,910

a

8431183.SQ.FTS.B

,

6

.151

%

,

5/27/26

....

6,422

6,372

a

8429942.SQ.FTS.B

,

6

.42

%

,

5/27/26

.....

6,536

629

a

8430478.SQ.FTS.B

,

6

.539

%

,

5/27/26

....

1,219

1,070

a

8431830.SQ.FTS.B

,

4

.771

%

,

5/28/26

....

1,906

1,801

a

8431845.SQ.FTS.B

,

4

.779

%

,

5/28/26

....

5,899

5,778

a

8431924.SQ.FTS.B

,

4

.78

%

,

5/28/26

.....

5,426

5,296

a

8432202.SQ.FTS.B

,

4

.781

%

,

5/28/26

....

5,465

5,340

a

8432382.SQ.FTS.B

,

4

.783

%

,

5/28/26

....

1,149

1,126

a

8431771.SQ.FTS.B

,

5

.112

%

,

5/28/26

....

3,574

3,470

a

8432403.SQ.FTS.B

,

5

.113

%

,

5/28/26

....

4,245

4,180

a

8432282.SQ.FTS.B

,

5

.66

%

,

5/28/26

.....

704

346

a

8432287.SQ.FTS.B

,

5

.911

%

,

5/28/26

....

9,125

6,947

a

8432335.SQ.FTS.B

,

6

.321

%

,

5/28/26

....

1,360

1,182

a

8431801.SQ.FTS.B

,

6

.332

%

,

5/28/26

....

1,621

736

a

8434417.SQ.FTS.B

,

4

.776

%

,

5/29/26

....

2,297

2,257

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

50

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8432699.SQ.FTS.B

,

4

.78

%

,

5/29/26

.....

$

3,959

$

3,853

a

8433832.SQ.FTS.B

,

4

.781

%

,

5/29/26

....

4,007

3,943

a

8434140.SQ.FTS.B

,

4

.781

%

,

5/29/26

....

3,111

3,067

a

8435906.SQ.FTS.B

,

5

.113

%

,

5/29/26

....

3,825

3,725

a

8436420.SQ.FTS.B

,

5

.113

%

,

5/29/26

....

15,401

11,594

a

8434105.SQ.FTS.B

,

5

.406

%

,

5/29/26

....

578

567

a

8436179.SQ.FTS.B

,

5

.407

%

,

5/29/26

....

5,580

5,351

a

8435468.SQ.FTS.B

,

5

.408

%

,

5/29/26

....

11,145

10,953

a

8432926.SQ.FTS.B

,

5

.414

%

,

5/29/26

....

3,374

2,837

a

8433471.SQ.FTS.B

,

5

.66

%

,

5/29/26

.....

1,101

1,071

a

8435292.SQ.FTS.B

,

5

.66

%

,

5/29/26

.....

5,020

4,952

a

8434522.SQ.FTS.B

,

5

.918

%

,

5/29/26

....

1,802

1,397

a

8434664.SQ.FTS.B

,

6

.69

%

,

5/29/26

.....

332

316

a

8437595.SQ.FTS.B

,

4

.776

%

,

5/30/26

....

3,833

3,701

a

8437003.SQ.FTS.B

,

4

.778

%

,

5/30/26

....

3,083

3,016

a

8437831.SQ.FTS.B

,

4

.78

%

,

5/30/26

.....

375

368

a

8437072.SQ.FTS.B

,

4

.781

%

,

5/30/26

....

15,515

15,054

a

8437899.SQ.FTS.B

,

4

.781

%

,

5/30/26

....

3,347

3,284

a

8437539.SQ.FTS.B

,

5

.111

%

,

5/30/26

....

1,703

1,682

a

8437839.SQ.FTS.B

,

5

.112

%

,

5/30/26

....

2,660

2,618

a

8438052.SQ.FTS.B

,

4

.78

%

,

6/01/26

.....

2,758

2,691

a

8438910.SQ.FTS.B

,

4

.78

%

,

6/01/26

.....

6,182

5,729

a

8437980.SQ.FTS.B

,

4

.783

%

,

6/01/26

....

2,488

2,426

a

8438408.SQ.FTS.B

,

4

.984

%

,

6/01/26

....

242

209

a

8438154.SQ.FTS.B

,

6

.164

%

,

6/01/26

....

440

432

a

8438501.SQ.FTS.B

,

6

.421

%

,

6/01/26

....

15,481

14,157

8438415.SQ.FTS.B

,

6

.545

%

,

6/01/26

....

5,967

136

a

8443850.SQ.FTS.B

,

4

.78

%

,

6/02/26

.....

18,149

17,359

a

8440815.SQ.FTS.B

,

4

.781

%

,

6/02/26

....

7,660

7,443

a

8443617.SQ.FTS.B

,

4

.782

%

,

6/02/26

....

3,600

3,517

a

8442233.SQ.FTS.B

,

4

.786

%

,

6/02/26

....

775

763

a

8443128.SQ.FTS.B

,

5

.113

%

,

6/02/26

....

21,960

17,366

a

8441573.SQ.FTS.B

,

5

.114

%

,

6/02/26

....

8,607

8,460

a

8442655.SQ.FTS.B

,

5

.114

%

,

6/02/26

....

12,926

12,645

a

8442301.SQ.FTS.B

,

5

.913

%

,

6/02/26

....

20,473

2,119

a

8442595.SQ.FTS.B

,

6

.16

%

,

6/02/26

.....

584

552

a

8440684.SQ.FTS.B

,

6

.326

%

,

6/02/26

....

1,751

1,443

a

8441924.SQ.FTS.B

,

6

.435

%

,

6/02/26

....

1,292

607

a

8442288.SQ.FTS.B

,

6

.534

%

,

6/02/26

....

942

842

a

8445811.SQ.FTS.B

,

4

.776

%

,

6/03/26

....

5,531

3,831

a

8444517.SQ.FTS.B

,

4

.778

%

,

6/03/26

....

6,334

6,199

a

8446276.SQ.FTS.B

,

4

.779

%

,

6/03/26

....

4,422

4,332

a

8444406.SQ.FTS.B

,

4

.78

%

,

6/03/26

.....

4,704

4,570

a

8446021.SQ.FTS.B

,

4

.78

%

,

6/03/26

.....

6,214

5,989

a

8446230.SQ.FTS.B

,

4

.78

%

,

6/03/26

.....

2,136

1,404

a

8446538.SQ.FTS.B

,

4

.78

%

,

6/03/26

.....

427

423

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8447540.SQ.FTS.B

,

4

.78

%

,

6/03/26

.....

$

1,756

$

1,733

a

8444735.SQ.FTS.B

,

4

.781

%

,

6/03/26

....

12,220

11,933

a

8445436.SQ.FTS.B

,

4

.782

%

,

6/03/26

....

4,904

4,812

a

8447514.SQ.FTS.B

,

4

.785

%

,

6/03/26

....

1,918

1,880

a

8444305.SQ.FTS.B

,

4

.786

%

,

6/03/26

....

2,871

2,005

a

8447129.SQ.FTS.B

,

4

.792

%

,

6/03/26

....

302

298

a

8446005.SQ.FTS.B

,

4

.941

%

,

6/03/26

....

475

248

a

8447075.SQ.FTS.B

,

5

.11

%

,

6/03/26

.....

2,276

2,168

a

8448159.SQ.FTS.B

,

5

.113

%

,

6/03/26

....

8,352

8,225

a

8446740.SQ.FTS.B

,

5

.409

%

,

6/03/26

....

18,474

17,205

a

8448116.SQ.FTS.B

,

5

.416

%

,

6/03/26

....

3,370

1,973

a

8445278.SQ.FTS.B

,

5

.66

%

,

6/03/26

.....

2,620

2,549

a

8449134.SQ.FTS.B

,

5

.66

%

,

6/03/26

.....

1,547

1,520

a

8444651.SQ.FTS.B

,

5

.907

%

,

6/03/26

....

2,525

1,685

a

8446421.SQ.FTS.B

,

6

.149

%

,

6/03/26

....

1,911

1,857

a

8447587.SQ.FTS.B

,

6

.151

%

,

6/03/26

....

5,816

5,643

a

8447294.SQ.FTS.B

,

6

.152

%

,

6/03/26

....

1,942

1,875

a

8446552.SQ.FTS.B

,

6

.415

%

,

6/03/26

....

2,053

1,680

a

8447145.SQ.FTS.B

,

6

.421

%

,

6/03/26

....

4,617

4,314

a

8446591.SQ.FTS.B

,

6

.671

%

,

6/03/26

....

4,450

3,707

a

8451510.SQ.FTS.B

,

4

.769

%

,

6/04/26

....

1,474

1,407

a

8450587.SQ.FTS.B

,

4

.777

%

,

6/04/26

....

2,558

2,464

a

8452091.SQ.FTS.B

,

4

.777

%

,

6/04/26

....

2,259

2,153

a

8454287.SQ.FTS.B

,

4

.778

%

,

6/04/26

....

4,022

3,883

a

8449478.SQ.FTS.B

,

4

.78

%

,

6/04/26

.....

26,486

26,073

a

8452324.SQ.FTS.B

,

4

.78

%

,

6/04/26

.....

1,324

1,316

a

8454450.SQ.FTS.B

,

4

.78

%

,

6/04/26

.....

921

906

a

8451698.SQ.FTS.B

,

4

.782

%

,

6/04/26

....

3,806

3,499

a

8451646.SQ.FTS.B

,

5

.106

%

,

6/04/26

....

1,375

1,340

a

8450698.SQ.FTS.B

,

5

.107

%

,

6/04/26

....

1,278

1,197

a

8451000.SQ.FTS.B

,

5

.113

%

,

6/04/26

....

1,082

1,058

a

8451879.SQ.FTS.B

,

5

.114

%

,

6/04/26

....

2,539

2,494

a

8452546.SQ.FTS.B

,

5

.66

%

,

6/04/26

.....

16,864

16,587

a

8453728.SQ.FTS.B

,

5

.66

%

,

6/04/26

.....

46,574

43,250

a

8452512.SQ.FTS.B

,

5

.905

%

,

6/04/26

....

1,095

941

a

8449473.SQ.FTS.B

,

5

.912

%

,

6/04/26

....

954

411

a

8453472.SQ.FTS.B

,

5

.912

%

,

6/04/26

....

16,392

8,719

a

8454323.SQ.FTS.B

,

6

.329

%

,

6/04/26

....

6,246

4,924

a

8450845.SQ.FTS.B

,

6

.418

%

,

6/04/26

....

649

628

a

8451169.SQ.FTS.B

,

6

.421

%

,

6/04/26

....

6,912

5,096

a

8449446.SQ.FTS.B

,

6

.511

%

,

6/04/26

....

424

363

a

8452962.SQ.FTS.B

,

6

.547

%

,

6/04/26

....

2,444

2,406

a

8452138.SQ.FTS.B

,

6

.669

%

,

6/04/26

....

1,378

1,249

a

8458289.SQ.FTS.B

,

4

.773

%

,

6/05/26

....

1,927

1,872

a

8457630.SQ.FTS.B

,

4

.776

%

,

6/05/26

....

2,090

1,989

a

8457448.SQ.FTS.B

,

4

.78

%

,

6/05/26

.....

2,470

2,412

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

51

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8459961.SQ.FTS.B

,

4

.78

%

,

6/05/26

.....

$

5,772

$

5,694

a

8457754.SQ.FTS.B

,

4

.962

%

,

6/05/26

....

3,672

1,731

a

8458348.SQ.FTS.B

,

5

.111

%

,

6/05/26

....

4,649

4,567

a

8457662.SQ.FTS.B

,

5

.113

%

,

6/05/26

....

3,523

677

a

8456840.SQ.FTS.B

,

5

.114

%

,

6/05/26

....

21,038

20,581

a

8458634.SQ.FTS.B

,

5

.409

%

,

6/05/26

....

7,412

6,154

a

8459389.SQ.FTS.B

,

5

.629

%

,

6/05/26

....

1,388

852

a

8458275.SQ.FTS.B

,

5

.66

%

,

6/05/26

.....

345

339

a

8457823.SQ.FTS.B

,

6

.132

%

,

6/05/26

....

379

373

a

8460864.SQ.FTS.B

,

6

.321

%

,

6/05/26

....

563

528

a

8458815.SQ.FTS.B

,

6

.327

%

,

6/05/26

....

9,573

9,140

a

8459416.SQ.FTS.B

,

6

.421

%

,

6/05/26

....

22,061

20,659

a

8457284.SQ.FTS.B

,

6

.672

%

,

6/05/26

....

7,702

6,521

a

8462948.SQ.FTS.B

,

4

.775

%

,

6/06/26

....

1,668

1,642

a

8463795.SQ.FTS.B

,

4

.776

%

,

6/06/26

....

3,789

3,690

a

8461925.SQ.FTS.B

,

4

.78

%

,

6/06/26

.....

4,821

4,614

a

8462031.SQ.FTS.B

,

4

.78

%

,

6/06/26

.....

7,487

7,346

a

8463874.SQ.FTS.B

,

4

.78

%

,

6/06/26

.....

5,007

4,852

a

8465216.SQ.FTS.B

,

4

.78

%

,

6/06/26

.....

9,731

9,510

a

8465572.SQ.FTS.B

,

4

.781

%

,

6/06/26

....

18,446

18,075

a

8463083.SQ.FTS.B

,

5

.098

%

,

6/06/26

....

194

193

a

8462417.SQ.FTS.B

,

5

.116

%

,

6/06/26

....

2,961

2,913

a

8463597.SQ.FTS.B

,

5

.116

%

,

6/06/26

....

2,528

2,455

a

8462603.SQ.FTS.B

,

5

.66

%

,

6/06/26

.....

425

423

a

8463754.SQ.FTS.B

,

6

.421

%

,

6/06/26

....

1,132

1,100

a

8465207.SQ.FTS.B

,

6

.421

%

,

6/06/26

....

859

735

a

8466591.SQ.FTS.B

,

4

.78

%

,

6/07/26

.....

5,134

4,978

a

8466668.SQ.FTS.B

,

4

.782

%

,

6/07/26

....

1,306

1,283

a

8465934.SQ.FTS.B

,

5

.66

%

,

6/07/26

.....

3,480

3,250

a

8465988.SQ.FTS.B

,

6

.423

%

,

6/07/26

....

5,983

4,967

a

8466076.SQ.FTS.B

,

6

.548

%

,

6/07/26

....

4,595

4,419

a

8466686.SQ.FTS.B

,

6

.564

%

,

6/07/26

....

1,101

704

a

8467623.SQ.FTS.B

,

4

.772

%

,

6/08/26

....

2,043

1,992

a

8467143.SQ.FTS.B

,

4

.78

%

,

6/08/26

.....

20,058

19,184

a

8466889.SQ.FTS.B

,

5

.115

%

,

6/08/26

....

1,599

1,581

a

8467099.SQ.FTS.B

,

5

.117

%

,

6/08/26

....

2,448

2,406

a

8466937.SQ.FTS.B

,

6

.15

%

,

6/08/26

.....

10,671

10,264

a

8467416.SQ.FTS.B

,

6

.152

%

,

6/08/26

....

8,707

8,466

a

8466851.SQ.FTS.B

,

6

.155

%

,

6/08/26

....

3,276

2,114

a

8468179.SQ.FTS.B

,

4

.778

%

,

6/09/26

....

1,589

1,564

a

8471753.SQ.FTS.B

,

4

.778

%

,

6/09/26

....

5,112

4,943

a

8468218.SQ.FTS.B

,

4

.779

%

,

6/09/26

....

2,855

2,786

a

8470797.SQ.FTS.B

,

4

.779

%

,

6/09/26

....

23,141

22,789

a

8468739.SQ.FTS.B

,

4

.78

%

,

6/09/26

.....

3,387

3,280

a

8469466.SQ.FTS.B

,

4

.78

%

,

6/09/26

.....

4,500

4,412

a

8471359.SQ.FTS.B

,

4

.78

%

,

6/09/26

.....

2,898

2,843

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8469116.SQ.FTS.B

,

4

.782

%

,

6/09/26

....

$

3,593

$

3,501

a

8472266.SQ.FTS.B

,

4

.783

%

,

6/09/26

....

5,939

4,620

a

8472011.SQ.FTS.B

,

4

.786

%

,

6/09/26

....

969

957

a

8468141.SQ.FTS.B

,

5

.113

%

,

6/09/26

....

3,610

539

a

8468391.SQ.FTS.B

,

5

.114

%

,

6/09/26

....

9,976

8,788

a

8469699.SQ.FTS.B

,

5

.115

%

,

6/09/26

....

3,848

3,779

a

8472118.SQ.FTS.B

,

5

.116

%

,

6/09/26

....

4,189

4,120

a

8470584.SQ.FTS.B

,

5

.409

%

,

6/09/26

....

11,505

10,267

a

8469012.SQ.FTS.B

,

5

.415

%

,

6/09/26

....

1,648

1,619

a

8469972.SQ.FTS.B

,

5

.418

%

,

6/09/26

....

1,455

1,295

a

8469946.SQ.FTS.B

,

5

.66

%

,

6/09/26

.....

6,574

4,225

a

8469649.SQ.FTS.B

,

5

.666

%

,

6/09/26

....

2,250

2,179

a

8470012.SQ.FTS.B

,

5

.669

%

,

6/09/26

....

1,525

1,486

a

8471337.SQ.FTS.B

,

6

.143

%

,

6/09/26

....

922

873

a

8468935.SQ.FTS.B

,

6

.157

%

,

6/09/26

....

218

217

8470076.SQ.FTS.B

,

6

.43

%

,

6/09/26

.....

3,293

1,030

a

8472331.SQ.FTS.B

,

6

.544

%

,

6/09/26

....

854

611

a

8475031.SQ.FTS.B

,

4

.762

%

,

6/10/26

....

865

826

a

8472955.SQ.FTS.B

,

4

.78

%

,

6/10/26

.....

4,001

3,906

a

8474500.SQ.FTS.B

,

4

.78

%

,

6/10/26

.....

7,179

6,936

a

8475042.SQ.FTS.B

,

4

.78

%

,

6/10/26

.....

3,322

3,273

a

8475189.SQ.FTS.B

,

4

.78

%

,

6/10/26

.....

1,957

1,934

a

8476410.SQ.FTS.B

,

4

.78

%

,

6/10/26

.....

17,217

16,886

a

8473553.SQ.FTS.B

,

4

.95

%

,

6/10/26

.....

3,402

382

a

8476755.SQ.FTS.B

,

5

.408

%

,

6/10/26

....

43,517

41,741

a

8474399.SQ.FTS.B

,

5

.409

%

,

6/10/26

....

563

538

a

8476656.SQ.FTS.B

,

5

.409

%

,

6/10/26

....

1,614

1,593

a

8472358.SQ.FTS.B

,

5

.41

%

,

6/10/26

.....

8,140

7,937

a

8475259.SQ.FTS.B

,

5

.41

%

,

6/10/26

.....

7,606

7,504

a

8473822.SQ.FTS.B

,

5

.66

%

,

6/10/26

.....

5,116

5,042

a

8475971.SQ.FTS.B

,

5

.66

%

,

6/10/26

.....

8,906

8,078

a

8472666.SQ.FTS.B

,

5

.665

%

,

6/10/26

....

1,627

1,610

a

8473230.SQ.FTS.B

,

5

.668

%

,

6/10/26

....

3,043

2,539

a

8476205.SQ.FTS.B

,

5

.904

%

,

6/10/26

....

1,765

1,564

a

8473436.SQ.FTS.B

,

5

.907

%

,

6/10/26

....

880

870

a

8472904.SQ.FTS.B

,

6

.138

%

,

6/10/26

....

1,896

1,015

a

8474805.SQ.FTS.B

,

6

.148

%

,

6/10/26

....

2,944

2,693

a

8474473.SQ.FTS.B

,

6

.164

%

,

6/10/26

....

847

811

a

8476356.SQ.FTS.B

,

6

.417

%

,

6/10/26

....

5,917

2,891

a

8473287.SQ.FTS.B

,

6

.419

%

,

6/10/26

....

3,011

1,953

a

8474869.SQ.FTS.B

,

6

.423

%

,

6/10/26

....

10,430

1,185

a

8475152.SQ.FTS.B

,

6

.659

%

,

6/10/26

....

267

251

a

8474421.SQ.FTS.B

,

6

.673

%

,

6/10/26

....

1,531

1,488

a

8477520.SQ.FTS.B

,

4

.777

%

,

6/11/26

....

1,042

1,015

a

8479375.SQ.FTS.B

,

4

.78

%

,

6/11/26

.....

3,965

3,419

a

8477360.SQ.FTS.B

,

4

.781

%

,

6/11/26

....

3,553

3,500

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

52

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8478806.SQ.FTS.B

,

4

.781

%

,

6/11/26

....

$

11,127

$

9,967

a

8478326.SQ.FTS.B

,

4

.783

%

,

6/11/26

....

4,006

3,903

a

8480033.SQ.FTS.B

,

4

.786

%

,

6/11/26

....

1,926

1,865

a

8479489.SQ.FTS.B

,

4

.935

%

,

6/11/26

....

159

142

a

8478005.SQ.FTS.B

,

5

.112

%

,

6/11/26

....

2,660

2,615

a

8479502.SQ.FTS.B

,

5

.113

%

,

6/11/26

....

21,735

21,215

a

8480153.SQ.FTS.B

,

5

.114

%

,

6/11/26

....

39,504

38,476

a

8480087.SQ.FTS.B

,

5

.115

%

,

6/11/26

....

6,659

5,956

a

8479076.SQ.FTS.B

,

5

.912

%

,

6/11/26

....

10,935

5,645

a

8480047.SQ.FTS.B

,

6

.422

%

,

6/11/26

....

3,863

2,286

a

8478143.SQ.FTS.B

,

6

.423

%

,

6/11/26

....

52

51

a

8478767.SQ.FTS.B

,

6

.428

%

,

6/11/26

....

968

118

a

8483288.SQ.FTS.B

,

4

.779

%

,

6/12/26

....

7,749

7,022

a

8483709.SQ.FTS.B

,

4

.78

%

,

6/12/26

.....

4,613

4,500

a

8484073.SQ.FTS.B

,

4

.78

%

,

6/12/26

.....

16,353

14,426

a

8486831.SQ.FTS.B

,

4

.78

%

,

6/12/26

.....

2,571

2,496

a

8487890.SQ.FTS.B

,

4

.78

%

,

6/12/26

.....

5,013

4,894

a

8486868.SQ.FTS.B

,

5

.114

%

,

6/12/26

....

10,084

9,911

a

8483503.SQ.FTS.B

,

5

.123

%

,

6/12/26

....

1,282

1,228

a

8484648.SQ.FTS.B

,

5

.409

%

,

6/12/26

....

4,279

4,179

a

8487146.SQ.FTS.B

,

5

.409

%

,

6/12/26

....

16,037

15,818

a

8485536.SQ.FTS.B

,

5

.414

%

,

6/12/26

....

1,301

1,236

a

8485342.SQ.FTS.B

,

5

.632

%

,

6/12/26

....

2,191

1,947

a

8485196.SQ.FTS.B

,

5

.664

%

,

6/12/26

....

3,740

3,672

a

8485469.SQ.FTS.B

,

6

.423

%

,

6/12/26

....

2,441

2,360

a

8484608.SQ.FTS.B

,

6

.551

%

,

6/12/26

....

454

444

a

8490332.SQ.FTS.B

,

4

.773

%

,

6/13/26

....

1,358

1,330

a

8492082.SQ.FTS.B

,

4

.779

%

,

6/13/26

....

7,701

7,345

a

8489644.SQ.FTS.B

,

5

.111

%

,

6/13/26

....

1,320

1,290

a

8490409.SQ.FTS.B

,

5

.113

%

,

6/13/26

....

40,415

30,324

a

8490984.SQ.FTS.B

,

5

.113

%

,

6/13/26

....

13,499

13,202

a

8492250.SQ.FTS.B

,

5

.113

%

,

6/13/26

....

6,197

5,780

a

8488322.SQ.FTS.B

,

5

.114

%

,

6/13/26

....

18,041

17,556

a

8489804.SQ.FTS.B

,

5

.114

%

,

6/13/26

....

2,746

2,672

a

8490078.SQ.FTS.B

,

5

.115

%

,

6/13/26

....

8,854

8,272

a

8489784.SQ.FTS.B

,

5

.126

%

,

6/13/26

....

913

891

a

8491628.SQ.FTS.B

,

5

.41

%

,

6/13/26

.....

4,141

4,058

a

8489082.SQ.FTS.B

,

5

.632

%

,

6/13/26

....

552

444

a

8491909.SQ.FTS.B

,

5

.911

%

,

6/13/26

....

7,559

6,535

a

8489107.SQ.FTS.B

,

6

.15

%

,

6/13/26

.....

6,739

6,569

a

8491602.SQ.FTS.B

,

6

.164

%

,

6/13/26

....

538

492

a

8490368.SQ.FTS.B

,

6

.409

%

,

6/13/26

....

481

472

a

8492413.SQ.FTS.B

,

6

.546

%

,

6/13/26

....

8,895

4,510

a

8491451.SQ.FTS.B

,

6

.671

%

,

6/13/26

....

5,881

4,397

a

8492838.SQ.FTS.B

,

4

.778

%

,

6/14/26

....

3,186

2,940

a

8492697.SQ.FTS.B

,

4

.78

%

,

6/14/26

.....

574

568

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8492490.SQ.FTS.B

,

4

.781

%

,

6/14/26

....

$

6,416

$

6,312

a

8492723.SQ.FTS.B

,

4

.784

%

,

6/14/26

....

3,197

3,083

a

8492792.SQ.FTS.B

,

4

.786

%

,

6/14/26

....

2,681

2,591

a

8492780.SQ.FTS.B

,

4

.943

%

,

6/14/26

....

561

437

a

8492886.SQ.FTS.B

,

5

.105

%

,

6/14/26

....

1,944

1,893

a

8493008.SQ.FTS.B

,

5

.107

%

,

6/14/26

....

1,660

1,633

a

8492634.SQ.FTS.B

,

5

.109

%

,

6/14/26

....

3,444

3,322

a

8492439.SQ.FTS.B

,

5

.66

%

,

6/14/26

.....

1,677

1,562

a

8493256.SQ.FTS.B

,

5

.914

%

,

6/14/26

....

1,356

1,237

a

8492468.SQ.FTS.B

,

6

.679

%

,

6/14/26

....

1,995

1,233

a

8494050.SQ.FTS.B

,

4

.773

%

,

6/15/26

....

930

910

a

8493383.SQ.FTS.B

,

4

.778

%

,

6/15/26

....

12,684

10,712

a

8493820.SQ.FTS.B

,

4

.779

%

,

6/15/26

....

7,044

6,884

a

8493938.SQ.FTS.B

,

4

.779

%

,

6/15/26

....

8,735

8,418

a

8493272.SQ.FTS.B

,

4

.78

%

,

6/15/26

.....

5,735

5,615

a

8493778.SQ.FTS.B

,

5

.112

%

,

6/15/26

....

3,878

3,663

a

8493543.SQ.FTS.B

,

6

.422

%

,

6/15/26

....

8,659

8,451

a

8497265.SQ.FTS.B

,

4

.776

%

,

6/16/26

....

3,671

3,569

a

8497852.SQ.FTS.B

,

4

.779

%

,

6/16/26

....

6,011

5,874

a

8495997.SQ.FTS.B

,

4

.78

%

,

6/16/26

.....

998

976

a

8494630.SQ.FTS.B

,

4

.782

%

,

6/16/26

....

5,636

5,510

a

8498021.SQ.FTS.B

,

4

.782

%

,

6/16/26

....

4,280

4,023

a

8496616.SQ.FTS.B

,

4

.783

%

,

6/16/26

....

6,995

6,013

a

8497156.SQ.FTS.B

,

4

.953

%

,

6/16/26

....

3,421

342

a

8494875.SQ.FTS.B

,

5

.107

%

,

6/16/26

....

2,616

2,545

a

8496040.SQ.FTS.B

,

5

.113

%

,

6/16/26

....

7,452

7,215

a

8496313.SQ.FTS.B

,

5

.113

%

,

6/16/26

....

3,494

2,611

a

8495024.SQ.FTS.B

,

5

.409

%

,

6/16/26

....

6,691

6,499

a

8497353.SQ.FTS.B

,

5

.409

%

,

6/16/26

....

9,604

9,473

a

8496191.SQ.FTS.B

,

5

.632

%

,

6/16/26

....

7,424

3,152

a

8496932.SQ.FTS.B

,

5

.66

%

,

6/16/26

.....

7,046

6,826

a

8495625.SQ.FTS.B

,

5

.912

%

,

6/16/26

....

21,725

11,656

a

8497110.SQ.FTS.B

,

6

.146

%

,

6/16/26

....

5,206

3,265

a

8495924.SQ.FTS.B

,

6

.149

%

,

6/16/26

....

39

38

a

8498105.SQ.FTS.B

,

6

.15

%

,

6/16/26

.....

33,995

31,111

a

8494585.SQ.FTS.B

,

6

.157

%

,

6/16/26

....

480

455

a

8497772.SQ.FTS.B

,

6

.545

%

,

6/16/26

....

3,594

2,843

a

8499776.SQ.FTS.B

,

4

.713

%

,

6/17/26

....

1,914

1,837

a

8500859.SQ.FTS.B

,

4

.719

%

,

6/17/26

....

5,943

5,840

a

8502304.SQ.FTS.B

,

4

.719

%

,

6/17/26

....

4,005

3,892

a

8502513.SQ.FTS.B

,

4

.779

%

,

6/17/26

....

10,164

9,788

a

8502732.SQ.FTS.B

,

4

.779

%

,

6/17/26

....

12,466

11,892

a

8498574.SQ.FTS.B

,

4

.78

%

,

6/17/26

.....

7,148

6,921

a

8499247.SQ.FTS.B

,

4

.78

%

,

6/17/26

.....

570

553

a

8499259.SQ.FTS.B

,

5

.031

%

,

6/17/26

....

7,293

6,937

a

8501027.SQ.FTS.B

,

5

.114

%

,

6/17/26

....

18,169

17,616

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

53

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8502261.SQ.FTS.B

,

5

.117

%

,

6/17/26

....

$

1,417

$

1,301

a

8501823.SQ.FTS.B

,

5

.912

%

,

6/17/26

....

7,293

7,181

a

8500038.SQ.FTS.B

,

6

.1

%

,

6/17/26

......

11,020

10,425

a

8499199.SQ.FTS.B

,

6

.114

%

,

6/17/26

....

2,208

814

a

8498690.SQ.FTS.B

,

6

.333

%

,

6/17/26

....

286

284

a

8502495.SQ.FTS.B

,

6

.355

%

,

6/17/26

....

607

333

a

8501512.SQ.FTS.B

,

6

.418

%

,

6/17/26

....

3,441

3,319

a

8500546.SQ.FTS.B

,

6

.422

%

,

6/17/26

....

6,766

6,689

a

8505150.SQ.FTS.B

,

4

.717

%

,

6/18/26

....

13,900

13,371

a

8505874.SQ.FTS.B

,

4

.718

%

,

6/18/26

....

21,931

21,486

a

8503284.SQ.FTS.B

,

4

.78

%

,

6/18/26

.....

7,398

7,242

a

8505759.SQ.FTS.B

,

4

.78

%

,

6/18/26

.....

4,056

3,923

a

8504993.SQ.FTS.B

,

4

.781

%

,

6/18/26

....

4,520

4,418

a

8505423.SQ.FTS.B

,

4

.781

%

,

6/18/26

....

2,205

2,171

a

8504451.SQ.FTS.B

,

4

.788

%

,

6/18/26

....

1,140

1,121

a

8503947.SQ.FTS.B

,

5

.031

%

,

6/18/26

....

7,997

7,786

a

8506766.SQ.FTS.B

,

5

.114

%

,

6/18/26

....

10,366

9,888

a

8503698.SQ.FTS.B

,

5

.346

%

,

6/18/26

....

5,695

5,566

a

8504810.SQ.FTS.B

,

5

.409

%

,

6/18/26

....

2,871

2,844

a

8504326.SQ.FTS.B

,

5

.415

%

,

6/18/26

....

999

975

a

8503664.SQ.FTS.B

,

5

.625

%

,

6/18/26

....

1,291

581

a

8505401.SQ.FTS.B

,

5

.636

%

,

6/18/26

....

2,228

917

a

8504362.SQ.FTS.B

,

5

.667

%

,

6/18/26

....

2,661

2,516

a

8505851.SQ.FTS.B

,

5

.669

%

,

6/18/26

....

1,446

1,419

a

8503043.SQ.FTS.B

,

5

.914

%

,

6/18/26

....

4,459

4,358

a

8503458.SQ.FTS.B

,

6

.106

%

,

6/18/26

....

1,346

1,195

a

8506275.SQ.FTS.B

,

6

.421

%

,

6/18/26

....

11,637

11,511

a

8505472.SQ.FTS.B

,

6

.551

%

,

6/18/26

....

1,101

1,070

a

8503520.SQ.FTS.B

,

6

.675

%

,

6/18/26

....

2,575

2,336

a

8509782.SQ.FTS.B

,

4

.718

%

,

6/19/26

....

12,729

11,970

a

8510852.SQ.FTS.B

,

4

.718

%

,

6/19/26

....

3,226

3,115

a

8512106.SQ.FTS.B

,

4

.78

%

,

6/19/26

.....

4,338

4,238

a

8512201.SQ.FTS.B

,

4

.78

%

,

6/19/26

.....

25,955

25,334

a

8513158.SQ.FTS.B

,

4

.78

%

,

6/19/26

.....

48,585

47,175

a

8512048.SQ.FTS.B

,

4

.781

%

,

6/19/26

....

1,884

1,816

a

8510637.SQ.FTS.B

,

4

.782

%

,

6/19/26

....

6,570

6,324

a

8512975.SQ.FTS.B

,

4

.936

%

,

6/19/26

....

13,023

9,228

a

8509437.SQ.FTS.B

,

5

.031

%

,

6/19/26

....

9,707

9,191

a

8510880.SQ.FTS.B

,

5

.348

%

,

6/19/26

....

8,661

8,357

a

8510453.SQ.FTS.B

,

5

.35

%

,

6/19/26

.....

4,818

4,247

a

8511119.SQ.FTS.B

,

5

.586

%

,

6/19/26

.....

1,007

967

a

8511595.SQ.FTS.B

,

5

.66

%

,

6/19/26

.....

1,686

1,401

a

8509720.SQ.FTS.B

,

5

.669

%

,

6/19/26

....

1,503

1,466

a

8509640.SQ.FTS.B

,

5

.916

%

,

6/19/26

....

1,976

1,915

a

8510404.SQ.FTS.B

,

6

.084

%

,

6/19/26

....

763

701

a

8510619.SQ.FTS.B

,

6

.447

%

,

6/19/26

....

783

558

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8514464.SQ.FTS.B

,

4

.716

%

,

6/20/26

....

$

1,792

$

1,706

a

8514047.SQ.FTS.B

,

4

.717

%

,

6/20/26

....

8,140

7,926

a

8514209.SQ.FTS.B

,

4

.717

%

,

6/20/26

....

5,768

5,624

a

8516928.SQ.FTS.B

,

4

.719

%

,

6/20/26

....

9,337

8,626

a

8513794.SQ.FTS.B

,

4

.77

%

,

6/20/26

.....

1,359

1,316

8517116.SQ.FTS.B

,

4

.778

%

,

6/20/26

....

3,183

104

a

8517643.SQ.FTS.B

,

4

.779

%

,

6/20/26

....

18,133

17,440

a

8516603.SQ.FTS.B

,

4

.78

%

,

6/20/26

.....

25,376

24,137

a

8514582.SQ.FTS.B

,

5

.025

%

,

6/20/26

....

895

875

a

8514726.SQ.FTS.B

,

5

.031

%

,

6/20/26

....

8,744

8,567

a

8514541.SQ.FTS.B

,

5

.108

%

,

6/20/26

....

2,017

1,874

a

8517465.SQ.FTS.B

,

5

.597

%

,

6/20/26

....

20,025

13,700

a

8514420.SQ.FTS.B

,

5

.632

%

,

6/20/26

....

1,047

828

a

8517142.SQ.FTS.B

,

5

.912

%

,

6/20/26

....

17,886

17,609

a

8515165.SQ.FTS.B

,

6

.434

%

,

6/20/26

....

1,364

1,093

a

8515216.SQ.FTS.B

,

6

.439

%

,

6/20/26

....

630

613

a

8515843.SQ.FTS.B

,

6

.451

%

,

6/20/26

....

680

643

a

8517064.SQ.FTS.B

,

6

.453

%

,

6/20/26

....

2,978

2,376

a

8519587.SQ.FTS.B

,

4

.71

%

,

6/21/26

.....

1,920

1,860

a

8519279.SQ.FTS.B

,

4

.715

%

,

6/21/26

....

5,254

5,102

a

8519361.SQ.FTS.B

,

4

.719

%

,

6/21/26

....

8,535

8,328

a

8518904.SQ.FTS.B

,

4

.72

%

,

6/21/26

.....

5,400

5,239

a

8519620.SQ.FTS.B

,

4

.72

%

,

6/21/26

.....

3,281

3,188

a

8519814.SQ.FTS.B

,

4

.72

%

,

6/21/26

.....

1,938

1,905

a

8519236.SQ.FTS.B

,

4

.78

%

,

6/21/26

.....

4,831

4,621

a

8519518.SQ.FTS.B

,

5

.031

%

,

6/21/26

....

5,480

5,244

a

8519610.SQ.FTS.B

,

5

.031

%

,

6/21/26

....

974

349

a

8519029.SQ.FTS.B

,

5

.344

%

,

6/21/26

....

4,029

3,907

a

8519665.SQ.FTS.B

,

5

.597

%

,

6/21/26

....

5,851

5,695

a

8519217.SQ.FTS.B

,

5

.66

%

,

6/21/26

.....

1,240

1,217

8518824.SQ.FTS.B

,

5

.914

%

,

6/21/26

....

4,617

2,704

a

8519343.SQ.FTS.B

,

6

.321

%

,

6/21/26

....

733

562

a

8518969.SQ.FTS.B

,

6

.442

%

,

6/21/26

....

1,432

1,348

a

8520520.SQ.FTS.B

,

4

.708

%

,

6/22/26

....

1,973

1,898

a

8519932.SQ.FTS.B

,

4

.718

%

,

6/22/26

....

7,083

6,880

a

8520534.SQ.FTS.B

,

4

.719

%

,

6/22/26

....

9,724

9,378

a

8520842.SQ.FTS.B

,

4

.72

%

,

6/22/26

.....

5,479

5,356

a

8520354.SQ.FTS.B

,

4

.782

%

,

6/22/26

....

5,529

5,427

a

8520088.SQ.FTS.B

,

5

.348

%

,

6/22/26

....

4,429

4,163

a

8520074.SQ.FTS.B

,

6

.094

%

,

6/22/26

....

1,006

954

a

8520689.SQ.FTS.B

,

6

.444

%

,

6/22/26

....

2,669

2,597

a

8521149.SQ.FTS.B

,

4

.712

%

,

6/23/26

....

3,265

3,109

a

8521495.SQ.FTS.B

,

4

.717

%

,

6/23/26

....

11,156

10,828

a

8523200.SQ.FTS.B

,

4

.717

%

,

6/23/26

....

822

807

a

8524195.SQ.FTS.B

,

4

.717

%

,

6/23/26

....

1,706

1,602

a

8524247.SQ.FTS.B

,

4

.717

%

,

6/23/26

....

13,976

12,185

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

54

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8524754.SQ.FTS.B

,

4

.717

%

,

6/23/26

....

$

6,098

$

5,960

a

8524918.SQ.FTS.B

,

4

.717

%

,

6/23/26

....

3,110

2,998

a

8522004.SQ.FTS.B

,

4

.718

%

,

6/23/26

....

12,203

11,848

a

8522755.SQ.FTS.B

,

4

.72

%

,

6/23/26

.....

4,589

4,497

a

8524516.SQ.FTS.B

,

4

.777

%

,

6/23/26

....

6,268

6,046

a

8522248.SQ.FTS.B

,

4

.78

%

,

6/23/26

.....

12,432

12,224

a

8521233.SQ.FTS.B

,

4

.952

%

,

6/23/26

....

2,998

1,568

a

8523215.SQ.FTS.B

,

5

.031

%

,

6/23/26

....

8,522

8,245

a

8524064.SQ.FTS.B

,

5

.031

%

,

6/23/26

....

7,136

6,799

a

8522616.SQ.FTS.B

,

5

.115

%

,

6/23/26

....

6,101

5,942

a

8523616.SQ.FTS.B

,

5

.346

%

,

6/23/26

....

35,004

30,131

a

8522951.SQ.FTS.B

,

5

.348

%

,

6/23/26

....

8,411

4,263

a

8521845.SQ.FTS.B

,

5

.349

%

,

6/23/26

....

4,139

4,014

a

8521799.SQ.FTS.B

,

5

.618

%

,

6/23/26

....

1,117

800

a

8524691.SQ.FTS.B

,

5

.912

%

,

6/23/26

....

1,647

1,596

a

8523178.SQ.FTS.B

,

5

.913

%

,

6/23/26

....

895

877

a

8524961.SQ.FTS.B

,

6

.104

%

,

6/23/26

....

3,873

3,057

a

8521216.SQ.FTS.B

,

6

.31

%

,

6/23/26

.....

748

604

a

8524470.SQ.FTS.B

,

6

.444

%

,

6/23/26

....

2,217

2,089

a

8523155.SQ.FTS.B

,

6

.447

%

,

6/23/26

....

866

789

a

8525012.SQ.FTS.B

,

6

.463

%

,

6/23/26

....

1,306

934

a

8526057.SQ.FTS.B

,

4

.717

%

,

6/24/26

....

11,623

11,327

a

8527848.SQ.FTS.B

,

4

.717

%

,

6/24/26

....

22,285

21,827

a

8525732.SQ.FTS.B

,

5

.031

%

,

6/24/26

....

7,035

6,466

a

8526636.SQ.FTS.B

,

5

.031

%

,

6/24/26

....

15,408

13,468

a

8525266.SQ.FTS.B

,

5

.035

%

,

6/24/26

....

2,157

2,052

a

8525872.SQ.FTS.B

,

6

.144

%

,

6/24/26

....

1,738

1,248

a

8526509.SQ.FTS.B

,

6

.434

%

,

6/24/26

....

678

656

a

8525902.SQ.FTS.B

,

6

.445

%

,

6/24/26

....

2,645

2,321

a

8530736.SQ.FTS.B

,

4

.717

%

,

6/25/26

....

11,431

10,863

a

8530878.SQ.FTS.B

,

4

.719

%

,

6/25/26

....

9,328

9,077

a

8531051.SQ.FTS.B

,

4

.778

%

,

6/25/26

....

4,886

4,717

a

8530425.SQ.FTS.B

,

5

.347

%

,

6/25/26

....

16,418

15,934

a

8531017.SQ.FTS.B

,

5

.599

%

,

6/25/26

....

3,444

2,262

a

8531707.SQ.FTS.B

,

4

.717

%

,

6/26/26

....

2,087

1,989

a

8531817.SQ.FTS.B

,

4

.717

%

,

6/26/26

....

4,312

4,162

a

8532244.SQ.FTS.B

,

4

.717

%

,

6/26/26

....

10,070

9,646

a

8534494.SQ.FTS.B

,

4

.717

%

,

6/26/26

....

27,124

26,733

a

8534229.SQ.FTS.B

,

4

.718

%

,

6/26/26

....

26,148

23,246

a

8533884.SQ.FTS.B

,

4

.719

%

,

6/26/26

....

6,890

6,713

a

8533163.SQ.FTS.B

,

4

.72

%

,

6/26/26

.....

11,199

5,027

a

8534024.SQ.FTS.B

,

4

.784

%

,

6/26/26

....

3,869

3,746

a

8531265.SQ.FTS.B

,

5

.598

%

,

6/26/26

....

18,316

17,684

a

8532557.SQ.FTS.B

,

5

.606

%

,

6/26/26

....

1,863

1,787

a

8533434.SQ.FTS.B

,

5

.66

%

,

6/26/26

.....

11,943

11,817

a

8532663.SQ.FTS.B

,

5

.664

%

,

6/26/26

....

6,479

5,554

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8532163.SQ.FTS.B

,

5

.909

%

,

6/26/26

....

$

2,602

$

590

a

8534082.SQ.FTS.B

,

5

.91

%

,

6/26/26

.....

9,333

8,604

a

8532853.SQ.FTS.B

,

6

.153

%

,

6/26/26

....

3,395

3,236

a

8533287.SQ.FTS.B

,

6

.446

%

,

6/26/26

....

9,575

8,497

a

8532818.SQ.FTS.B

,

6

.447

%

,

6/26/26

....

969

726

a

8531228.SQ.FTS.B

,

6

.46

%

,

6/26/26

.....

1,012

839

a

8537543.SQ.FTS.B

,

4

.717

%

,

6/27/26

....

67,354

59,759

a

8536496.SQ.FTS.B

,

4

.718

%

,

6/27/26

....

11,871

11,679

a

8536923.SQ.FTS.B

,

5

.408

%

,

6/27/26

....

9,534

6,605

a

8535243.SQ.FTS.B

,

5

.598

%

,

6/27/26

....

32,266

30,764

a

8535200.SQ.FTS.B

,

6

.102

%

,

6/27/26

....

1,298

1,225

a

8537208.SQ.FTS.B

,

6

.103

%

,

6/27/26

....

8,922

6,605

a

8536360.SQ.FTS.B

,

6

.446

%

,

6/27/26

....

7,468

780

a

8537028.SQ.FTS.B

,

6

.449

%

,

6/27/26

....

4,356

4,148

a

8539432.SQ.FTS.B

,

4

.718

%

,

6/28/26

....

27,479

24,308

a

8540077.SQ.FTS.B

,

4

.718

%

,

6/28/26

....

5,372

5,258

a

8539337.SQ.FTS.B

,

4

.719

%

,

6/28/26

....

6,224

6,149

a

8540123.SQ.FTS.B

,

5

.031

%

,

6/28/26

....

4,110

3,973

a

8539549.SQ.FTS.B

,

5

.597

%

,

6/28/26

....

35,648

34,899

a

8539545.SQ.FTS.B

,

5

.6

%

,

6/28/26

......

803

783

a

8540630.SQ.FTS.B

,

4

.711

%

,

6/29/26

....

1,765

1,735

a

8540471.SQ.FTS.B

,

4

.717

%

,

6/29/26

....

10,250

10,058

8540713.SQ.FTS.B

,

5

.347

%

,

6/29/26

....

41,850

10,148

a

8540351.SQ.FTS.B

,

5

.598

%

,

6/29/26

....

13,273

12,395

a

8540292.SQ.FTS.B

,

6

.445

%

,

6/29/26

....

3,103

2,567

a

8546553.SQ.FTS.B

,

4

.71

%

,

6/30/26

.....

1,250

1,214

a

8542285.SQ.FTS.B

,

4

.713

%

,

6/30/26

....

2,917

2,846

a

8542458.SQ.FTS.B

,

4

.717

%

,

6/30/26

....

1,635

1,595

a

8545182.SQ.FTS.B

,

4

.717

%

,

6/30/26

....

12,652

10,745

a

8546070.SQ.FTS.B

,

4

.717

%

,

6/30/26

....

4,910

4,760

a

8546901.SQ.FTS.B

,

4

.717

%

,

6/30/26

....

5,919

5,753

a

8547300.SQ.FTS.B

,

4

.717

%

,

6/30/26

....

13,760

13,376

a

8547757.SQ.FTS.B

,

4

.717

%

,

6/30/26

....

3,459

3,268

a

8546213.SQ.FTS.B

,

4

.718

%

,

6/30/26

....

13,556

12,894

a

8541385.SQ.FTS.B

,

4

.719

%

,

6/30/26

....

3,641

3,587

a

8546373.SQ.FTS.B

,

4

.719

%

,

6/30/26

....

7,799

7,544

a

8545554.SQ.FTS.B

,

4

.72

%

,

6/30/26

.....

6,268

6,138

a

8541695.SQ.FTS.B

,

4

.724

%

,

6/30/26

....

1,918

1,883

a

8546191.SQ.FTS.B

,

4

.726

%

,

6/30/26

....

2,311

2,222

a

8546179.SQ.FTS.B

,

4

.769

%

,

6/30/26

....

1,707

1,578

a

8547282.SQ.FTS.B

,

4

.938

%

,

6/30/26

....

1,498

148

a

8541549.SQ.FTS.B

,

5

.031

%

,

6/30/26

....

1,129

1,106

a

8542031.SQ.FTS.B

,

5

.031

%

,

6/30/26

....

2,381

2,353

a

8542112.SQ.FTS.B

,

5

.031

%

,

6/30/26

....

6,481

6,341

a

8545318.SQ.FTS.B

,

5

.031

%

,

6/30/26

....

2,580

2,547

a

8546141.SQ.FTS.B

,

5

.031

%

,

6/30/26

....

4,023

3,729

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

55

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8547883.SQ.FTS.B

,

5

.031

%

,

6/30/26

....

$

2,552

$

2,462

a

8541776.SQ.FTS.B

,

5

.033

%

,

6/30/26

....

2,366

2,328

a

8541898.SQ.FTS.B

,

5

.04

%

,

6/30/26

.....

1,486

1,450

a

8545786.SQ.FTS.B

,

5

.346

%

,

6/30/26

....

4,556

4,344

a

8547955.SQ.FTS.B

,

5

.346

%

,

6/30/26

....

14,419

13,893

a

8545640.SQ.FTS.B

,

5

.598

%

,

6/30/26

....

2,325

2,126

a

8542406.SQ.FTS.B

,

5

.612

%

,

6/30/26

....

577

564

a

8541954.SQ.FTS.B

,

5

.63

%

,

6/30/26

.....

248

226

a

8544934.SQ.FTS.B

,

5

.66

%

,

6/30/26

.....

13,536

13,181

a

8545991.SQ.FTS.B

,

5

.907

%

,

6/30/26

....

2,488

2,277

a

8542002.SQ.FTS.B

,

6

.091

%

,

6/30/26

....

2,173

1,308

a

8547134.SQ.FTS.B

,

6

.099

%

,

6/30/26

....

2,609

2,235

a

8541749.SQ.FTS.B

,

6

.101

%

,

6/30/26

....

840

810

a

8545628.SQ.FTS.B

,

6

.284

%

,

6/30/26

....

1,404

978

a

8542376.SQ.FTS.B

,

6

.415

%

,

6/30/26

....

194

187

a

8545658.SQ.FTS.B

,

6

.415

%

,

6/30/26

....

559

518

a

8546059.SQ.FTS.B

,

6

.427

%

,

6/30/26

....

681

606

a

8546583.SQ.FTS.B

,

6

.447

%

,

6/30/26

....

8,202

7,400

a

8547838.SQ.FTS.B

,

6

.447

%

,

6/30/26

....

1,503

1,006

a

8545679.SQ.FTS.B

,

6

.449

%

,

6/30/26

....

5,386

5,158

a

8541294.SQ.FTS.B

,

6

.45

%

,

6/30/26

.....

4,122

3,753

a

8542402.SQ.FTS.B

,

6

.47

%

,

6/30/26

.....

1,294

179

a

8550463.SQ.FTS.B

,

4

.705

%

,

7/01/26

....

476

473

a

8550250.SQ.FTS.B

,

4

.717

%

,

7/01/26

....

5,091

4,987

a

8550526.SQ.FTS.B

,

4

.717

%

,

7/01/26

....

2,489

2,332

a

8550885.SQ.FTS.B

,

4

.717

%

,

7/01/26

....

19,527

12,900

a

8550272.SQ.FTS.B

,

5

.031

%

,

7/01/26

....

8,065

7,801

a

8550500.SQ.FTS.B

,

5

.031

%

,

7/01/26

....

1,041

962

a

8550713.SQ.FTS.B

,

5

.348

%

,

7/01/26

....

3,716

3,596

a

8550328.SQ.FTS.B

,

5

.409

%

,

7/01/26

....

7,140

6,797

a

8550545.SQ.FTS.B

,

5

.601

%

,

7/01/26

....

4,759

4,518

a

8550744.SQ.FTS.B

,

5

.913

%

,

7/01/26

....

14,234

13,526

a

8550441.SQ.FTS.B

,

6

.095

%

,

7/01/26

....

4,363

3,082

a

8549991.SQ.FTS.B

,

6

.1

%

,

7/01/26

......

4,159

3,987

a

8550065.SQ.FTS.B

,

6

.1

%

,

7/01/26

......

9,073

8,943

a

8550455.SQ.FTS.B

,

6

.1

%

,

7/01/26

......

1,551

1,087

a

8550390.SQ.FTS.B

,

6

.11

%

,

7/01/26

.....

1,104

1,016

a

8550479.SQ.FTS.B

,

6

.447

%

,

7/01/26

....

436

417

a

8550398.SQ.FTS.B

,

6

.449

%

,

7/01/26

....

9,398

4,052

a

8550630.SQ.FTS.B

,

6

.45

%

,

7/01/26

.....

3,122

2,990

a

8551202.SQ.FTS.B

,

4

.716

%

,

7/02/26

....

7,286

7,037

a

8551699.SQ.FTS.B

,

4

.717

%

,

7/02/26

....

6,440

653

a

8552265.SQ.FTS.B

,

4

.717

%

,

7/02/26

....

577

560

a

8552581.SQ.FTS.B

,

4

.717

%

,

7/02/26

....

6,669

6,530

a

8552680.SQ.FTS.B

,

4

.717

%

,

7/02/26

....

19,411

18,489

a

8553581.SQ.FTS.B

,

4

.717

%

,

7/02/26

....

15,622

14,653

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8553381.SQ.FTS.B

,

4

.718

%

,

7/02/26

....

$

5,512

$

5,409

a

8553008.SQ.FTS.B

,

4

.719

%

,

7/02/26

....

7,300

7,165

a

8551592.SQ.FTS.B

,

4

.722

%

,

7/02/26

....

4,613

4,387

a

8552282.SQ.FTS.B

,

5

.031

%

,

7/02/26

....

11,195

10,733

a

8553164.SQ.FTS.B

,

5

.035

%

,

7/02/26

....

1,236

1,217

a

8551424.SQ.FTS.B

,

5

.348

%

,

7/02/26

....

6,272

5,782

a

8551383.SQ.FTS.B

,

5

.637

%

,

7/02/26

....

686

589

a

8552547.SQ.FTS.B

,

5

.912

%

,

7/02/26

....

3,574

3,249

a

8551862.SQ.FTS.B

,

6

.101

%

,

7/02/26

....

6,688

6,461

a

8553935.SQ.FTS.B

,

6

.424

%

,

7/02/26

....

2,947

1,643

a

8551802.SQ.FTS.B

,

6

.44

%

,

7/02/26

.....

845

810

a

8553490.SQ.FTS.B

,

6

.444

%

,

7/02/26

....

9,297

4,303

a

8553825.SQ.FTS.B

,

6

.447

%

,

7/02/26

....

6,467

1,002

a

8558540.SQ.FTS.B

,

4

.716

%

,

7/03/26

....

4,127

3,282

a

8557547.SQ.FTS.B

,

4

.717

%

,

7/03/26

....

31,150

30,675

a

8556788.SQ.FTS.B

,

4

.719

%

,

7/03/26

....

3,247

3,140

a

8556935.SQ.FTS.B

,

4

.719

%

,

7/03/26

....

3,486

3,303

a

8557214.SQ.FTS.B

,

4

.719

%

,

7/03/26

....

6,524

6,388

a

8556719.SQ.FTS.B

,

4

.72

%

,

7/03/26

.....

5,023

4,915

a

8555800.SQ.FTS.B

,

4

.722

%

,

7/03/26

....

3,611

3,466

a

8557132.SQ.FTS.B

,

4

.932

%

,

7/03/26

....

2,304

1,961

a

8558497.SQ.FTS.B

,

4

.952

%

,

7/03/26

....

1,905

514

a

8555629.SQ.FTS.B

,

5

.031

%

,

7/03/26

....

10,927

7,202

a

8557966.SQ.FTS.B

,

5

.031

%

,

7/03/26

....

15,566

15,097

a

8558431.SQ.FTS.B

,

5

.031

%

,

7/03/26

....

2,284

2,213

a

8558364.SQ.FTS.B

,

5

.594

%

,

7/03/26

....

1,531

1,480

a

8555106.SQ.FTS.B

,

5

.597

%

,

7/03/26

....

44,035

37,709

a

8555861.SQ.FTS.B

,

5

.597

%

,

7/03/26

....

11,705

11,586

a

8556842.SQ.FTS.B

,

5

.597

%

,

7/03/26

....

5,523

5,279

a

8558210.SQ.FTS.B

,

5

.605

%

,

7/03/26

....

1,386

1,342

a

8557950.SQ.FTS.B

,

5

.624

%

,

7/03/26

....

1,078

774

a

8556574.SQ.FTS.B

,

5

.911

%

,

7/03/26

....

9,937

6,186

a

8555525.SQ.FTS.B

,

5

.915

%

,

7/03/26

....

8,817

2,664

a

8557033.SQ.FTS.B

,

6

.448

%

,

7/03/26

....

10,364

9,533

a

8559173.SQ.FTS.B

,

4

.717

%

,

7/04/26

....

4,968

4,008

a

8559233.SQ.FTS.B

,

4

.717

%

,

7/04/26

....

3,310

3,234

a

8559486.SQ.FTS.B

,

4

.717

%

,

7/04/26

....

18,725

18,304

a

8560042.SQ.FTS.B

,

4

.731

%

,

7/04/26

....

1,298

1,266

a

8559144.SQ.FTS.B

,

4

.935

%

,

7/04/26

....

1,571

979

a

8559060.SQ.FTS.B

,

5

.036

%

,

7/04/26

....

4,621

1,301

a

8558936.SQ.FTS.B

,

6

.459

%

,

7/04/26

....

884

814

a

8560080.SQ.FTS.B

,

4

.712

%

,

7/05/26

....

2,486

2,428

a

8560151.SQ.FTS.B

,

4

.721

%

,

7/05/26

....

2,800

2,709

a

8560806.SQ.FTS.B

,

4

.721

%

,

7/05/26

....

3,812

3,740

a

8560397.SQ.FTS.B

,

5

.031

%

,

7/05/26

....

6,580

4,984

a

8560928.SQ.FTS.B

,

5

.598

%

,

7/05/26

....

15,895

12,385

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

56

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8560725.SQ.FTS.B

,

5

.609

%

,

7/05/26

....

$

874

$

850

a

8560234.SQ.FTS.B

,

5

.914

%

,

7/05/26

....

4,173

3,889

a

8560754.SQ.FTS.B

,

6

.094

%

,

7/05/26

....

2,652

2,372

a

8560367.SQ.FTS.B

,

6

.3

%

,

7/05/26

......

401

394

a

8592543.SQ.FTS.B

,

4

.706

%

,

7/06/26

....

1,266

1,181

a

8590787.SQ.FTS.B

,

4

.719

%

,

7/06/26

....

8,263

7,979

a

8572345.SQ.FTS.B

,

4

.924

%

,

7/06/26

....

2,282

23

8561850.SQ.FTS.B

,

4

.939

%

,

7/06/26

....

3,978

55

a

8591863.SQ.FTS.B

,

4

.941

%

,

7/06/26

....

2,090

570

a

8586816.SQ.FTS.B

,

5

.031

%

,

7/06/26

....

11,559

11,308

a

8591316.SQ.FTS.B

,

5

.346

%

,

7/06/26

....

23,635

22,509

a

8591936.SQ.FTS.B

,

5

.346

%

,

7/06/26

....

15,979

15,615

a

8564616.SQ.FTS.B

,

5

.596

%

,

7/06/26

....

6,511

5,901

a

8592590.SQ.FTS.B

,

5

.613

%

,

7/06/26

....

1,269

1,217

a

8561613.SQ.FTS.B

,

5

.902

%

,

7/06/26

....

1,593

1,484

a

8590915.SQ.FTS.B

,

5

.912

%

,

7/06/26

....

12,433

12,230

a

8562871.SQ.FTS.B

,

5

.913

%

,

7/06/26

....

4,561

3,329

a

8590644.SQ.FTS.B

,

5

.914

%

,

7/06/26

....

6,521

6,350

a

8561563.SQ.FTS.B

,

6

.089

%

,

7/06/26

....

1,604

1,438

a

8561647.SQ.FTS.B

,

6

.095

%

,

7/06/26

....

998

658

a

8592616.SQ.FTS.B

,

6

.437

%

,

7/06/26

....

1,307

1,180

a

8581913.SQ.FTS.B

,

6

.448

%

,

7/06/26

....

5,292

1,128

a

8594589.SQ.FTS.B

,

4

.715

%

,

7/07/26

....

5,412

5,277

a

8596690.SQ.FTS.B

,

4

.716

%

,

7/07/26

....

2,044

2,006

a

8596376.SQ.FTS.B

,

4

.717

%

,

7/07/26

....

976

954

a

8596716.SQ.FTS.B

,

4

.717

%

,

7/07/26

....

5,517

5,357

a

8596592.SQ.FTS.B

,

4

.719

%

,

7/07/26

....

3,294

3,220

a

8593105.SQ.FTS.B

,

4

.72

%

,

7/07/26

.....

6,873

6,663

a

8594397.SQ.FTS.B

,

4

.722

%

,

7/07/26

....

3,081

3,005

a

8595182.SQ.FTS.B

,

4

.722

%

,

7/07/26

....

4,043

3,915

a

8592706.SQ.FTS.B

,

5

.031

%

,

7/07/26

....

5,327

5,195

a

8593246.SQ.FTS.B

,

5

.031

%

,

7/07/26

....

5,348

5,263

a

8594085.SQ.FTS.B

,

5

.031

%

,

7/07/26

....

3,983

3,896

a

8596228.SQ.FTS.B

,

5

.031

%

,

7/07/26

....

9,227

8,991

a

8596647.SQ.FTS.B

,

5

.031

%

,

7/07/26

....

2,246

2,177

a

8594714.SQ.FTS.B

,

5

.346

%

,

7/07/26

....

10,785

10,569

a

8595911.SQ.FTS.B

,

5

.347

%

,

7/07/26

....

27,090

19,558

a

8592933.SQ.FTS.B

,

5

.35

%

,

7/07/26

.....

1,096

1,068

a

8596541.SQ.FTS.B

,

5

.367

%

,

7/07/26

....

967

899

a

8595818.SQ.FTS.B

,

5

.593

%

,

7/07/26

....

2,907

472

a

8593033.SQ.FTS.B

,

5

.597

%

,

7/07/26

....

2,848

1,365

a

8596210.SQ.FTS.B

,

5

.597

%

,

7/07/26

....

920

879

a

8594381.SQ.FTS.B

,

5

.599

%

,

7/07/26

....

788

488

a

8594664.SQ.FTS.B

,

5

.603

%

,

7/07/26

....

2,698

1,974

a

8594704.SQ.FTS.B

,

5

.66

%

,

7/07/26

.....

216

186

a

8595877.SQ.FTS.B

,

6

.094

%

,

7/07/26

....

1,856

1,791

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8595165.SQ.FTS.B

,

6

.102

%

,

7/07/26

....

$

504

$

491

a

8595231.SQ.FTS.B

,

6

.103

%

,

7/07/26

....

3,793

3,023

a

8596823.SQ.FTS.B

,

4

.717

%

,

7/08/26

....

71,887

62,485

a

8598506.SQ.FTS.B

,

4

.717

%

,

7/08/26

....

12,126

11,707

a

8599234.SQ.FTS.B

,

4

.717

%

,

7/08/26

....

42,728

22,533

a

8599193.SQ.FTS.B

,

4

.718

%

,

7/08/26

....

6,731

6,545

a

8599640.SQ.FTS.B

,

4

.718

%

,

7/08/26

....

25,523

24,987

a

8599843.SQ.FTS.B

,

4

.718

%

,

7/08/26

....

28,902

26,432

a

8598057.SQ.FTS.B

,

4

.719

%

,

7/08/26

....

3,667

3,610

a

8598140.SQ.FTS.B

,

4

.719

%

,

7/08/26

....

10,745

10,228

a

8599492.SQ.FTS.B

,

4

.946

%

,

7/08/26

....

494

259

a

8600084.SQ.FTS.B

,

5

.031

%

,

7/08/26

....

21,548

21,238

a

8599500.SQ.FTS.B

,

5

.597

%

,

7/08/26

....

9,515

9,271

a

8598454.SQ.FTS.B

,

5

.598

%

,

7/08/26

....

2,808

2,604

a

8598692.SQ.FTS.B

,

5

.91

%

,

7/08/26

.....

5,328

5,154

a

8598287.SQ.FTS.B

,

6

.099

%

,

7/08/26

....

8,018

7,720

a

8598913.SQ.FTS.B

,

6

.441

%

,

7/08/26

....

733

726

a

8598776.SQ.FTS.B

,

6

.449

%

,

7/08/26

....

1,603

1,549

a

8598629.SQ.FTS.B

,

6

.454

%

,

7/08/26

....

2,025

1,921

a

8602655.SQ.FTS.B

,

4

.717

%

,

7/09/26

....

3,139

3,040

a

8605696.SQ.FTS.B

,

4

.718

%

,

7/09/26

....

26,632

26,001

a

8602566.SQ.FTS.B

,

4

.72

%

,

7/09/26

.....

7,142

6,804

a

8602530.SQ.FTS.B

,

4

.887

%

,

7/09/26

....

92

91

a

8604048.SQ.FTS.B

,

5

.016

%

,

7/09/26

....

908

869

a

8604707.SQ.FTS.B

,

5

.027

%

,

7/09/26

....

3,226

3,141

a

8603180.SQ.FTS.B

,

5

.031

%

,

7/09/26

....

5,065

4,989

a

8605021.SQ.FTS.B

,

5

.031

%

,

7/09/26

....

49,561

46,390

a

8603430.SQ.FTS.B

,

5

.343

%

,

7/09/26

....

2,037

1,992

a

8602665.SQ.FTS.B

,

5

.347

%

,

7/09/26

....

20,910

20,256

a

8602305.SQ.FTS.B

,

5

.348

%

,

7/09/26

....

8,405

7,780

a

8604153.SQ.FTS.B

,

6

.101

%

,

7/09/26

....

28,733

27,850

a

8604756.SQ.FTS.B

,

6

.101

%

,

7/09/26

....

44

44

a

8604749.SQ.FTS.B

,

6

.438

%

,

7/09/26

....

2,042

146

a

8606159.SQ.FTS.B

,

4

.717

%

,

7/10/26

....

4,611

4,236

a

8606732.SQ.FTS.B

,

4

.717

%

,

7/10/26

....

7,338

7,089

a

8606964.SQ.FTS.B

,

4

.717

%

,

7/10/26

....

5,442

5,024

a

8608944.SQ.FTS.B

,

4

.717

%

,

7/10/26

....

8,811

7,678

a

8609178.SQ.FTS.B

,

4

.717

%

,

7/10/26

....

12,217

11,765

a

8606334.SQ.FTS.B

,

4

.718

%

,

7/10/26

....

17,896

17,331

a

8607390.SQ.FTS.B

,

4

.718

%

,

7/10/26

....

24,220

21,611

a

8607111.SQ.FTS.B

,

4

.738

%

,

7/10/26

....

1,062

947

a

8607777.SQ.FTS.B

,

5

.031

%

,

7/10/26

....

17,314

16,806

a

8608563.SQ.FTS.B

,

5

.031

%

,

7/10/26

....

32,984

31,519

a

8606254.SQ.FTS.B

,

5

.344

%

,

7/10/26

....

3,643

3,554

a

8607220.SQ.FTS.B

,

5

.349

%

,

7/10/26

....

7,860

7,305

a

8607336.SQ.FTS.B

,

5

.6

%

,

7/10/26

......

4,029

3,965

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

57

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8609421.SQ.FTS.B

,

5

.604

%

,

7/10/26

....

$

1,767

$

1,722

a

8607193.SQ.FTS.B

,

5

.628

%

,

7/10/26

....

512

422

a

8608501.SQ.FTS.B

,

5

.908

%

,

7/10/26

....

406

405

a

8606031.SQ.FTS.B

,

6

.105

%

,

7/10/26

....

1,642

1,621

a

8607126.SQ.FTS.B

,

6

.45

%

,

7/10/26

.....

6,684

100

a

8609698.SQ.FTS.B

,

4

.708

%

,

7/11/26

....

2,103

2,034

a

8609535.SQ.FTS.B

,

4

.717

%

,

7/11/26

....

14,724

14,133

a

8610104.SQ.FTS.B

,

4

.717

%

,

7/11/26

....

9,766

9,461

a

8609479.SQ.FTS.B

,

4

.72

%

,

7/11/26

.....

4,739

4,215

a

8609811.SQ.FTS.B

,

4

.938

%

,

7/11/26

....

631

550

a

8610213.SQ.FTS.B

,

5

.031

%

,

7/11/26

....

6,643

6,341

a

8609456.SQ.FTS.B

,

5

.61

%

,

7/11/26

.....

1,120

1,068

a

8609821.SQ.FTS.B

,

6

.086

%

,

7/11/26

....

1,090

941

a

8609793.SQ.FTS.B

,

6

.101

%

,

7/11/26

....

1,916

1,731

8609977.SQ.FTS.B

,

6

.289

%

,

7/11/26

....

5,916

30

a

8609710.SQ.FTS.B

,

6

.443

%

,

7/11/26

....

4,370

3,888

a

8610849.SQ.FTS.B

,

4

.717

%

,

7/12/26

....

2,370

2,310

a

8610580.SQ.FTS.B

,

5

.346

%

,

7/12/26

....

31,023

26,541

a

8610873.SQ.FTS.B

,

5

.599

%

,

7/12/26

....

13,506

12,792

a

8610332.SQ.FTS.B

,

5

.602

%

,

7/12/26

....

3,188

2,820

a

8610305.SQ.FTS.B

,

6

.101

%

,

7/12/26

....

2,117

2,013

a

8611826.SQ.FTS.B

,

4

.715

%

,

7/13/26

....

5,657

5,491

a

8612771.SQ.FTS.B

,

4

.715

%

,

7/13/26

....

4,317

4,191

a

8612978.SQ.FTS.B

,

4

.717

%

,

7/13/26

....

18,695

18,149

a

8613236.SQ.FTS.B

,

4

.717

%

,

7/13/26

....

18,876

18,268

a

8612236.SQ.FTS.B

,

4

.719

%

,

7/13/26

....

11,335

10,959

a

8611387.SQ.FTS.B

,

5

.346

%

,

7/13/26

....

7,442

7,305

a

8614161.SQ.FTS.B

,

5

.598

%

,

7/13/26

....

7,363

6,584

a

8614417.SQ.FTS.B

,

6

.1

%

,

7/13/26

......

8,855

8,143

a

8613886.SQ.FTS.B

,

6

.101

%

,

7/13/26

....

20,123

17,120

a

8612475.SQ.FTS.B

,

6

.297

%

,

7/13/26

....

1,474

656

a

8611363.SQ.FTS.B

,

6

.447

%

,

7/13/26

....

1,854

1,459

a

8614346.SQ.FTS.B

,

6

.447

%

,

7/13/26

....

3,464

3,302

a

8614402.SQ.FTS.B

,

6

.45

%

,

7/13/26

.....

1,229

1,151

a

8615481.SQ.FTS.B

,

4

.717

%

,

7/14/26

....

1,183

1,153

a

8616978.SQ.FTS.B

,

4

.717

%

,

7/14/26

....

38,168

37,390

a

8617917.SQ.FTS.B

,

4

.717

%

,

7/14/26

....

42,815

39,734

a

8617961.SQ.FTS.B

,

4

.717

%

,

7/14/26

....

9,248

9,060

a

8614783.SQ.FTS.B

,

4

.718

%

,

7/14/26

....

37,177

35,492

a

8615833.SQ.FTS.B

,

4

.718

%

,

7/14/26

....

17,671

17,113

a

8616856.SQ.FTS.B

,

4

.72

%

,

7/14/26

.....

6,343

6,176

a

8615533.SQ.FTS.B

,

4

.721

%

,

7/14/26

....

5,432

5,264

a

8616961.SQ.FTS.B

,

4

.721

%

,

7/14/26

....

1,448

1,423

a

8616204.SQ.FTS.B

,

5

.031

%

,

7/14/26

....

2,640

2,607

a

8615781.SQ.FTS.B

,

5

.343

%

,

7/14/26

....

3,000

2,607

a

8614646.SQ.FTS.B

,

5

.346

%

,

7/14/26

....

5,661

5,459

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8616279.SQ.FTS.B

,

5

.349

%

,

7/14/26

....

$

6,342

$

6,173

a

8616468.SQ.FTS.B

,

5

.912

%

,

7/14/26

....

17,888

17,000

a

8617909.SQ.FTS.B

,

6

.439

%

,

7/14/26

....

256

252

a

8617544.SQ.FTS.B

,

6

.447

%

,

7/14/26

....

34,510

31,646

a

8616687.SQ.FTS.B

,

6

.448

%

,

7/14/26

....

12,206

10,960

a

8616385.SQ.FTS.B

,

6

.453

%

,

7/14/26

....

2,849

2,197

a

8614612.SQ.FTS.B

,

6

.458

%

,

7/14/26

....

706

666

a

8620915.SQ.FTS.B

,

4

.717

%

,

7/15/26

....

53,014

51,324

a

8618415.SQ.FTS.B

,

4

.722

%

,

7/15/26

....

3,160

3,041

a

8618602.SQ.FTS.B

,

4

.73

%

,

7/15/26

.....

1,282

1,257

a

8621549.SQ.FTS.B

,

4

.939

%

,

7/15/26

....

2,084

1,714

a

8618231.SQ.FTS.B

,

5

.031

%

,

7/15/26

....

8,827

8,144

a

8618922.SQ.FTS.B

,

5

.031

%

,

7/15/26

....

20,679

18,098

a

8618172.SQ.FTS.B

,

5

.352

%

,

7/15/26

....

3,025

2,908

a

8618502.SQ.FTS.B

,

5

.59

%

,

7/15/26

.....

783

770

a

8619694.SQ.FTS.B

,

6

.1

%

,

7/15/26

......

17,329

17,082

a

8619301.SQ.FTS.B

,

6

.429

%

,

7/15/26

....

341

325

a

8620862.SQ.FTS.B

,

6

.445

%

,

7/15/26

....

6,315

2,166

a

8618162.SQ.FTS.B

,

6

.447

%

,

7/15/26

....

1,411

1,315

a

8627969.SQ.FTS.B

,

4

.715

%

,

7/16/26

....

3,220

3,075

a

8626952.SQ.FTS.B

,

4

.717

%

,

7/16/26

....

2,734

2,691

a

8626751.SQ.FTS.B

,

4

.718

%

,

7/16/26

....

16,962

16,149

a

8626410.SQ.FTS.B

,

4

.721

%

,

7/16/26

....

4,331

4,246

a

8627926.SQ.FTS.B

,

4

.946

%

,

7/16/26

....

1,738

586

a

8626303.SQ.FTS.B

,

5

.026

%

,

7/16/26

....

2,294

2,244

a

8624618.SQ.FTS.B

,

5

.031

%

,

7/16/26

....

79,944

65,157

a

8628078.SQ.FTS.B

,

5

.033

%

,

7/16/26

....

3,781

3,582

a

8627066.SQ.FTS.B

,

5

.346

%

,

7/16/26

....

5,738

5,667

a

8627043.SQ.FTS.B

,

5

.635

%

,

7/16/26

....

2,130

455

a

8626995.SQ.FTS.B

,

5

.906

%

,

7/16/26

....

4,291

2,493

a

8626051.SQ.FTS.B

,

5

.909

%

,

7/16/26

....

4,846

4,641

a

8627581.SQ.FTS.B

,

6

.102

%

,

7/16/26

....

13,107

1,383

a

8627745.SQ.FTS.B

,

6

.443

%

,

7/16/26

....

1,760

1,691

a

8627242.SQ.FTS.B

,

6

.446

%

,

7/16/26

....

8,760

8,656

a

8626207.SQ.FTS.B

,

6

.447

%

,

7/16/26

....

8,693

6,423

a

8630391.SQ.FTS.B

,

4

.717

%

,

7/17/26

....

1,823

1,798

a

8631430.SQ.FTS.B

,

4

.72

%

,

7/17/26

.....

6,757

6,510

a

8630477.SQ.FTS.B

,

4

.724

%

,

7/17/26

....

1,664

1,584

a

8628331.SQ.FTS.B

,

5

.031

%

,

7/17/26

....

26,109

25,698

a

8630033.SQ.FTS.B

,

5

.346

%

,

7/17/26

....

21,381

20,201

a

8630523.SQ.FTS.B

,

5

.346

%

,

7/17/26

....

9,588

9,192

a

8631297.SQ.FTS.B

,

5

.347

%

,

7/17/26

....

1,440

1,428

a

8629935.SQ.FTS.B

,

5

.348

%

,

7/17/26

....

4,758

4,447

a

8631607.SQ.FTS.B

,

5

.595

%

,

7/17/26

....

4,186

4,103

a

8629530.SQ.FTS.B

,

5

.597

%

,

7/17/26

....

14,016

13,761

a

8631766.SQ.FTS.B

,

5

.912

%

,

7/17/26

....

27,592

26,096

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

58

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8631516.SQ.FTS.B

,

5

.915

%

,

7/17/26

....

$

6,947

$

4,894

a

8630706.SQ.FTS.B

,

6

.101

%

,

7/17/26

....

40,231

35,836

a

8629897.SQ.FTS.B

,

6

.289

%

,

7/17/26

....

68

66

a

8632346.SQ.FTS.B

,

4

.717

%

,

7/18/26

....

14,188

13,747

a

8631952.SQ.FTS.B

,

4

.719

%

,

7/18/26

....

16,046

10,636

a

8632098.SQ.FTS.B

,

4

.719

%

,

7/18/26

....

4,309

4,142

a

8632216.SQ.FTS.B

,

4

.719

%

,

7/18/26

....

13,309

12,333

a

8632155.SQ.FTS.B

,

5

.599

%

,

7/18/26

....

8,792

7,057

a

8632330.SQ.FTS.B

,

6

.092

%

,

7/18/26

....

1,559

1,443

a

8631847.SQ.FTS.B

,

6

.11

%

,

7/18/26

.....

908

721

a

8632134.SQ.FTS.B

,

6

.44

%

,

7/18/26

.....

692

679

a

8631876.SQ.FTS.B

,

6

.445

%

,

7/18/26

....

169

168

a

8632737.SQ.FTS.B

,

4

.714

%

,

7/19/26

....

2,436

1,993

a

8632513.SQ.FTS.B

,

4

.717

%

,

7/19/26

....

9,105

8,903

a

8633007.SQ.FTS.B

,

4

.718

%

,

7/19/26

....

9,908

9,735

a

8632852.SQ.FTS.B

,

4

.719

%

,

7/19/26

....

12,767

12,404

a

8632633.SQ.FTS.B

,

5

.034

%

,

7/19/26

....

3,094

3,033

a

8632673.SQ.FTS.B

,

5

.348

%

,

7/19/26

....

4,699

4,446

a

8632818.SQ.FTS.B

,

6

.302

%

,

7/19/26

....

545

485

a

8633563.SQ.FTS.B

,

4

.715

%

,

7/20/26

....

6,713

6,433

a

8633177.SQ.FTS.B

,

4

.717

%

,

7/20/26

....

1,974

1,938

a

8633237.SQ.FTS.B

,

4

.717

%

,

7/20/26

....

1,662

1,632

a

8633357.SQ.FTS.B

,

4

.717

%

,

7/20/26

....

5,836

5,518

a

8633814.SQ.FTS.B

,

4

.717

%

,

7/20/26

....

4,393

4,268

a

8633193.SQ.FTS.B

,

4

.719

%

,

7/20/26

....

4,239

4,079

a

8633529.SQ.FTS.B

,

4

.719

%

,

7/20/26

....

4,235

4,096

a

8633721.SQ.FTS.B

,

4

.72

%

,

7/20/26

.....

7,792

7,509

a

8633800.SQ.FTS.B

,

4

.734

%

,

7/20/26

....

1,408

1,312

a

8633867.SQ.FTS.B

,

4

.741

%

,

7/20/26

....

1,050

937

a

8633676.SQ.FTS.B

,

5

.026

%

,

7/20/26

....

1,330

1,297

a

8633268.SQ.FTS.B

,

5

.031

%

,

7/20/26

....

10,377

9,924

a

8633618.SQ.FTS.B

,

5

.031

%

,

7/20/26

....

1,627

1,575

a

8633645.SQ.FTS.B

,

5

.034

%

,

7/20/26

....

2,905

2,793

a

8633879.SQ.FTS.B

,

5

.346

%

,

7/20/26

....

8,285

8,102

a

8633707.SQ.FTS.B

,

5

.597

%

,

7/20/26

....

1,251

1,223

a

8633688.SQ.FTS.B

,

5

.633

%

,

7/20/26

....

597

589

a

8633481.SQ.FTS.B

,

5

.912

%

,

7/20/26

....

580

559

a

8633404.SQ.FTS.B

,

6

.447

%

,

7/20/26

....

7,936

7,516

a

8635886.SQ.FTS.B

,

4

.717

%

,

7/21/26

....

11,276

10,084

a

8636838.SQ.FTS.B

,

4

.717

%

,

7/21/26

....

54,130

53,011

a

8635338.SQ.FTS.B

,

4

.718

%

,

7/21/26

....

21,075

20,493

a

8636591.SQ.FTS.B

,

4

.718

%

,

7/21/26

....

12,163

11,911

a

8635191.SQ.FTS.B

,

4

.719

%

,

7/21/26

....

8,337

8,106

a

8635687.SQ.FTS.B

,

4

.723

%

,

7/21/26

....

3,006

2,924

a

8634827.SQ.FTS.B

,

4

.724

%

,

7/21/26

....

2,026

1,981

a

8636253.SQ.FTS.B

,

5

.031

%

,

7/21/26

....

28,280

24,506

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8636500.SQ.FTS.B

,

5

.031

%

,

7/21/26

....

$

7,724

$

7,514

a

8634029.SQ.FTS.B

,

5

.597

%

,

7/21/26

....

879

872

a

8634175.SQ.FTS.B

,

5

.597

%

,

7/21/26

....

20,847

20,404

a

8634925.SQ.FTS.B

,

6

.093

%

,

7/21/26

....

1,806

1,753

a

8634051.SQ.FTS.B

,

6

.103

%

,

7/21/26

....

8,521

8,170

a

8634810.SQ.FTS.B

,

6

.272

%

,

7/21/26

....

304

289

a

8639688.SQ.FTS.B

,

4

.711

%

,

7/22/26

....

2,023

1,974

a

8639830.SQ.FTS.B

,

4

.712

%

,

7/22/26

....

1,955

1,873

a

8638757.SQ.FTS.B

,

4

.714

%

,

7/22/26

....

2,723

2,655

a

8639870.SQ.FTS.B

,

4

.715

%

,

7/22/26

....

3,345

3,010

a

8638894.SQ.FTS.B

,

4

.717

%

,

7/22/26

....

2,033

1,988

a

8639110.SQ.FTS.B

,

4

.717

%

,

7/22/26

....

16,649

16,092

a

8640323.SQ.FTS.B

,

4

.717

%

,

7/22/26

....

5,123

5,017

a

8637766.SQ.FTS.B

,

4

.718

%

,

7/22/26

....

3,900

3,774

a

8640376.SQ.FTS.B

,

4

.718

%

,

7/22/26

....

15,842

15,460

a

8638182.SQ.FTS.B

,

4

.72

%

,

7/22/26

.....

5,778

5,631

a

8640538.SQ.FTS.B

,

4

.942

%

,

7/22/26

....

1,019

829

a

8639103.SQ.FTS.B

,

4

.953

%

,

7/22/26

....

287

185

a

8638634.SQ.FTS.B

,

5

.029

%

,

7/22/26

....

3,440

3,325

a

8639736.SQ.FTS.B

,

5

.031

%

,

7/22/26

....

3,603

3,559

a

8640837.SQ.FTS.B

,

5

.031

%

,

7/22/26

....

3,405

3,325

a

8639729.SQ.FTS.B

,

5

.34

%

,

7/22/26

.....

1,805

1,491

a

8638821.SQ.FTS.B

,

5

.343

%

,

7/22/26

....

3,341

3,113

a

8638351.SQ.FTS.B

,

5

.346

%

,

7/22/26

....

2,761

2,589

a

8638480.SQ.FTS.B

,

5

.346

%

,

7/22/26

....

4,186

4,111

a

8640719.SQ.FTS.B

,

5

.347

%

,

7/22/26

....

7,701

7,489

a

8640009.SQ.FTS.B

,

5

.597

%

,

7/22/26

....

25,903

22,459

a

8640827.SQ.FTS.B

,

6

.087

%

,

7/22/26

....

697

638

a

8639353.SQ.FTS.B

,

6

.101

%

,

7/22/26

....

35,909

31,260

a

8639921.SQ.FTS.B

,

6

.101

%

,

7/22/26

....

2,242

2,223

a

8640554.SQ.FTS.B

,

6

.101

%

,

7/22/26

....

18,384

15,905

a

8637824.SQ.FTS.B

,

6

.443

%

,

7/22/26

....

2,472

2,377

a

8640299.SQ.FTS.B

,

6

.447

%

,

7/22/26

....

1,266

1,252

a

8638875.SQ.FTS.B

,

6

.449

%

,

7/22/26

....

1,126

1,105

a

8640551.SQ.FTS.B

,

6

.458

%

,

7/22/26

....

899

759

a

8646157.SQ.FTS.B

,

4

.715

%

,

7/23/26

....

1,823

1,497

a

8643973.SQ.FTS.B

,

4

.717

%

,

7/23/26

....

7,622

7,467

a

8644310.SQ.FTS.B

,

4

.717

%

,

7/23/26

....

813

802

a

8644339.SQ.FTS.B

,

4

.717

%

,

7/23/26

....

1,358

1,309

a

8644372.SQ.FTS.B

,

4

.717

%

,

7/23/26

....

3,409

3,282

a

8644402.SQ.FTS.B

,

4

.717

%

,

7/23/26

....

11,610

11,433

a

8644899.SQ.FTS.B

,

4

.717

%

,

7/23/26

....

54,300

52,544

a

8645822.SQ.FTS.B

,

4

.717

%

,

7/23/26

....

19,071

18,638

a

8645724.SQ.FTS.B

,

4

.72

%

,

7/23/26

.....

3,843

3,726

a

8644830.SQ.FTS.B

,

4

.722

%

,

7/23/26

....

4,547

4,383

a

8644207.SQ.FTS.B

,

4

.724

%

,

7/23/26

....

2,473

2,358

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

59

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8643406.SQ.FTS.B

,

5

.031

%

,

7/23/26

....

$

5,620

$

5,202

a

8644240.SQ.FTS.B

,

5

.036

%

,

7/23/26

....

2,971

2,880

a

8643564.SQ.FTS.B

,

5

.587

%

,

7/23/26

....

992

974

a

8646165.SQ.FTS.B

,

5

.597

%

,

7/23/26

....

45,407

42,685

a

8646097.SQ.FTS.B

,

5

.6

%

,

7/23/26

......

7,632

6,112

a

8643641.SQ.FTS.B

,

6

.098

%

,

7/23/26

....

2,092

1,979

a

8642969.SQ.FTS.B

,

6

.101

%

,

7/23/26

....

22,325

20,204

a

8643359.SQ.FTS.B

,

6

.113

%

,

7/23/26

....

1,254

1,202

a

8643951.SQ.FTS.B

,

6

.294

%

,

7/23/26

....

1,492

1,298

a

8644367.SQ.FTS.B

,

6

.311

%

,

7/23/26

....

311

294

a

8645706.SQ.FTS.B

,

6

.453

%

,

7/23/26

....

1,190

556

a

8650179.SQ.FTS.B

,

4

.715

%

,

7/24/26

....

4,447

3,980

a

8650583.SQ.FTS.B

,

4

.716

%

,

7/24/26

....

2,434

2,397

a

8648277.SQ.FTS.B

,

4

.717

%

,

7/24/26

....

62,953

61,201

a

8649420.SQ.FTS.B

,

4

.717

%

,

7/24/26

....

8,468

8,076

a

8650004.SQ.FTS.B

,

4

.717

%

,

7/24/26

....

7,529

7,322

a

8649701.SQ.FTS.B

,

4

.719

%

,

7/24/26

....

6,340

6,129

a

8650370.SQ.FTS.B

,

4

.719

%

,

7/24/26

....

11,849

11,437

a

8646746.SQ.FTS.B

,

4

.72

%

,

7/24/26

.....

6,105

5,970

a

8648113.SQ.FTS.B

,

4

.72

%

,

7/24/26

.....

3,709

3,652

a

8647888.SQ.FTS.B

,

4

.722

%

,

7/24/26

....

3,931

3,830

a

8647629.SQ.FTS.B

,

4

.726

%

,

7/24/26

....

1,960

1,899

a

8647688.SQ.FTS.B

,

4

.939

%

,

7/24/26

....

1,039

492

a

8649808.SQ.FTS.B

,

5

.031

%

,

7/24/26

....

9,376

7,674

a

8649863.SQ.FTS.B

,

5

.041

%

,

7/24/26

....

2,239

1,814

a

8650240.SQ.FTS.B

,

5

.346

%

,

7/24/26

....

4,331

4,175

a

8647093.SQ.FTS.B

,

5

.597

%

,

7/24/26

....

8,608

8,291

a

8648035.SQ.FTS.B

,

5

.61

%

,

7/24/26

.....

1,908

760

a

8647735.SQ.FTS.B

,

6

.098

%

,

7/24/26

....

1,110

1,096

a

8649905.SQ.FTS.B

,

6

.292

%

,

7/24/26

....

4,671

2,043

a

8650542.SQ.FTS.B

,

6

.447

%

,

7/24/26

....

1,227

1,188

a

8648257.SQ.FTS.B

,

6

.453

%

,

7/24/26

....

1,123

1,043

a

8650790.SQ.FTS.B

,

4

.717

%

,

7/25/26

....

20,486

19,857

a

8651192.SQ.FTS.B

,

4

.717

%

,

7/25/26

....

6,906

6,646

a

8651531.SQ.FTS.B

,

4

.717

%

,

7/25/26

....

1,391

1,350

a

8651564.SQ.FTS.B

,

4

.718

%

,

7/25/26

....

6,473

6,337

a

8651276.SQ.FTS.B

,

4

.719

%

,

7/25/26

....

3,710

3,651

a

8651338.SQ.FTS.B

,

5

.031

%

,

7/25/26

....

4,763

3,492

a

8651469.SQ.FTS.B

,

5

.031

%

,

7/25/26

....

4,562

4,437

a

8651388.SQ.FTS.B

,

6

.105

%

,

7/25/26

....

4,237

3,951

a

8651551.SQ.FTS.B

,

6

.278

%

,

7/25/26

....

626

528

a

8652365.SQ.FTS.B

,

4

.711

%

,

7/26/26

....

1,548

1,495

a

8652294.SQ.FTS.B

,

4

.714

%

,

7/26/26

....

1,952

1,890

a

8652093.SQ.FTS.B

,

4

.721

%

,

7/26/26

....

4,137

4,047

a

8652321.SQ.FTS.B

,

4

.721

%

,

7/26/26

....

3,229

3,152

a

8652141.SQ.FTS.B

,

4

.738

%

,

7/26/26

....

953

925

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8652172.SQ.FTS.B

,

5

.6

%

,

7/26/26

......

$

8,368

$

5,977

a

8652048.SQ.FTS.B

,

6

.095

%

,

7/26/26

....

4,708

480

a

8652269.SQ.FTS.B

,

6

.099

%

,

7/26/26

....

1,177

1,150

a

8651977.SQ.FTS.B

,

6

.444

%

,

7/26/26

....

5,326

4,768

a

8651944.SQ.FTS.B

,

6

.45

%

,

7/26/26

.....

4,157

2,265

a

8653146.SQ.FTS.B

,

4

.713

%

,

7/27/26

....

2,169

2,065

a

8653722.SQ.FTS.B

,

4

.716

%

,

7/27/26

....

7,484

7,240

a

8653859.SQ.FTS.B

,

4

.717

%

,

7/27/26

....

9,755

9,468

a

8654734.SQ.FTS.B

,

4

.717

%

,

7/27/26

....

26,813

26,270

a

8654141.SQ.FTS.B

,

4

.719

%

,

7/27/26

....

5,469

5,323

a

8653504.SQ.FTS.B

,

4

.72

%

,

7/27/26

.....

2,816

2,753

a

8653631.SQ.FTS.B

,

5

.031

%

,

7/27/26

....

1,864

1,771

a

8654222.SQ.FTS.B

,

5

.031

%

,

7/27/26

....

10,107

9,638

a

8654441.SQ.FTS.B

,

5

.346

%

,

7/27/26

....

9,809

9,697

a

8653686.SQ.FTS.B

,

5

.586

%

,

7/27/26

....

1,184

1,101

a

8655321.SQ.FTS.B

,

6

.101

%

,

7/27/26

....

14,958

14,637

a

8653075.SQ.FTS.B

,

6

.116

%

,

7/27/26

....

712

688

a

8653123.SQ.FTS.B

,

6

.44

%

,

7/27/26

.....

996

626

a

8654114.SQ.FTS.B

,

6

.456

%

,

7/27/26

....

1,130

1,065

a

8657656.SQ.FTS.B

,

4

.715

%

,

7/28/26

....

6,395

6,159

a

8656804.SQ.FTS.B

,

4

.717

%

,

7/28/26

....

2,906

2,840

a

8658803.SQ.FTS.B

,

4

.717

%

,

7/28/26

....

8,791

8,645

a

8659090.SQ.FTS.B

,

4

.717

%

,

7/28/26

....

13,926

13,338

a

8660670.SQ.FTS.B

,

4

.717

%

,

7/28/26

....

1,882

1,831

a

8658371.SQ.FTS.B

,

4

.718

%

,

7/28/26

....

7,804

7,570

a

8660345.SQ.FTS.B

,

4

.718

%

,

7/28/26

....

20,401

19,342

a

8661401.SQ.FTS.B

,

4

.723

%

,

7/28/26

....

3,159

3,090

a

8657546.SQ.FTS.B

,

4

.725

%

,

7/28/26

....

1,697

1,631

a

8661885.SQ.FTS.B

,

4

.731

%

,

7/28/26

....

1,436

1,397

a

8661275.SQ.FTS.B

,

4

.93

%

,

7/28/26

.....

1,044

1,009

a

8659366.SQ.FTS.B

,

5

.031

%

,

7/28/26

....

2,944

2,907

a

8661498.SQ.FTS.B

,

5

.034

%

,

7/28/26

....

2,768

2,651

a

8659511.SQ.FTS.B

,

5

.345

%

,

7/28/26

....

2,595

2,489

a

8661652.SQ.FTS.B

,

5

.348

%

,

7/28/26

....

4,330

3,893

a

8661317.SQ.FTS.B

,

5

.35

%

,

7/28/26

.....

4,850

257

a

8660025.SQ.FTS.B

,

5

.588

%

,

7/28/26

....

1,112

1,087

a

8656641.SQ.FTS.B

,

5

.597

%

,

7/28/26

....

2,968

2,910

a

8658327.SQ.FTS.B

,

5

.606

%

,

7/28/26

....

1,025

912

a

8657100.SQ.FTS.B

,

6

.445

%

,

7/28/26

....

2,807

2,724

a

8656737.SQ.FTS.B

,

6

.448

%

,

7/28/26

....

2,549

2,421

a

8660946.SQ.FTS.B

,

6

.448

%

,

7/28/26

....

6,829

6,749

a

8663251.SQ.FTS.B

,

4

.716

%

,

7/29/26

....

3,173

3,065

a

8667081.SQ.FTS.B

,

4

.716

%

,

7/29/26

....

9,789

8,747

a

8661962.SQ.FTS.B

,

4

.717

%

,

7/29/26

....

4,873

4,710

a

8663897.SQ.FTS.B

,

4

.717

%

,

7/29/26

....

2,942

2,864

a

8666292.SQ.FTS.B

,

4

.717

%

,

7/29/26

....

15,350

15,027

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

60

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8666763.SQ.FTS.B

,

4

.718

%

,

7/29/26

....

$

15,601

$

15,227

a

8663729.SQ.FTS.B

,

4

.719

%

,

7/29/26

....

8,847

8,532

a

8662371.SQ.FTS.B

,

5

.029

%

,

7/29/26

....

2,533

2,475

a

8665342.SQ.FTS.B

,

5

.031

%

,

7/29/26

....

20,309

19,253

a

8665632.SQ.FTS.B

,

5

.031

%

,

7/29/26

....

16,372

15,812

a

8663012.SQ.FTS.B

,

5

.344

%

,

7/29/26

....

5,333

5,051

a

8662096.SQ.FTS.B

,

5

.346

%

,

7/29/26

....

3,653

3,529

a

8666939.SQ.FTS.B

,

5

.346

%

,

7/29/26

....

9,063

5,777

a

8663878.SQ.FTS.B

,

5

.352

%

,

7/29/26

....

1,668

1,386

a

8666921.SQ.FTS.B

,

5

.597

%

,

7/29/26

....

2,907

2,113

a

8663308.SQ.FTS.B

,

5

.598

%

,

7/29/26

....

21,129

20,194

a

8666125.SQ.FTS.B

,

5

.598

%

,

7/29/26

....

8,349

8,155

a

8662262.SQ.FTS.B

,

5

.912

%

,

7/29/26

....

6,159

3,985

a

8665333.SQ.FTS.B

,

5

.912

%

,

7/29/26

....

869

834

a

8664006.SQ.FTS.B

,

5

.914

%

,

7/29/26

....

4,711

4,480

a

8666485.SQ.FTS.B

,

6

.093

%

,

7/29/26

....

842

806

a

8662533.SQ.FTS.B

,

6

.101

%

,

7/29/26

....

19,407

11,106

a

8665605.SQ.FTS.B

,

6

.11

%

,

7/29/26

.....

760

719

a

8662222.SQ.FTS.B

,

6

.114

%

,

7/29/26

....

1,206

1,136

a

8664407.SQ.FTS.B

,

6

.447

%

,

7/29/26

....

2,328

2,168

a

8665978.SQ.FTS.B

,

6

.447

%

,

7/29/26

....

10,220

9,902

a

8666605.SQ.FTS.B

,

6

.447

%

,

7/29/26

....

1,919

1,725

a

8666500.SQ.FTS.B

,

6

.448

%

,

7/29/26

....

4,067

3,998

a

8662960.SQ.FTS.B

,

6

.452

%

,

7/29/26

....

1,336

709

a

8662511.SQ.FTS.B

,

6

.461

%

,

7/29/26

....

771

684

a

8671171.SQ.FTS.B

,

4

.717

%

,

7/30/26

....

6,868

6,707

a

8671813.SQ.FTS.B

,

4

.717

%

,

7/30/26

....

26,486

25,604

a

8673788.SQ.FTS.B

,

4

.717

%

,

7/30/26

....

17,457

17,073

a

8674072.SQ.FTS.B

,

4

.717

%

,

7/30/26

....

18,983

15,482

a

8669844.SQ.FTS.B

,

4

.72

%

,

7/30/26

.....

4,900

4,817

a

8671643.SQ.FTS.B

,

4

.732

%

,

7/30/26

....

869

856

a

8672633.SQ.FTS.B

,

4

.923

%

,

7/30/26

....

697

314

a

8672469.SQ.FTS.B

,

5

.031

%

,

7/30/26

....

2,818

2,710

a

8673724.SQ.FTS.B

,

5

.336

%

,

7/30/26

....

1,023

979

a

8674644.SQ.FTS.B

,

5

.338

%

,

7/30/26

....

3,318

2,633

a

8672560.SQ.FTS.B

,

5

.346

%

,

7/30/26

....

1,766

1,725

a

8673674.SQ.FTS.B

,

5

.347

%

,

7/30/26

....

1,196

1,177

a

8673350.SQ.FTS.B

,

5

.348

%

,

7/30/26

....

2,915

2,776

a

8673307.SQ.FTS.B

,

5

.595

%

,

7/30/26

....

2,765

2,553

a

8673738.SQ.FTS.B

,

5

.595

%

,

7/30/26

....

3,999

3,825

a

8670642.SQ.FTS.B

,

5

.597

%

,

7/30/26

....

15,610

10,138

a

8670041.SQ.FTS.B

,

5

.6

%

,

7/30/26

......

4,797

4,645

a

8672842.SQ.FTS.B

,

6

.101

%

,

7/30/26

....

14,018

13,850

a

8672694.SQ.FTS.B

,

6

.102

%

,

7/30/26

....

8,930

7,813

a

8671669.SQ.FTS.B

,

6

.299

%

,

7/30/26

....

1,727

972

a

8669992.SQ.FTS.B

,

6

.441

%

,

7/30/26

....

485

476

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8674351.SQ.FTS.B

,

6

.446

%

,

7/30/26

....

$

9,683

$

9,480

a

8675586.SQ.FTS.B

,

4

.717

%

,

7/31/26

....

4,802

4,629

a

8675939.SQ.FTS.B

,

4

.717

%

,

7/31/26

....

2,701

2,613

a

8676170.SQ.FTS.B

,

4

.717

%

,

7/31/26

....

3,360

3,251

a

8677079.SQ.FTS.B

,

4

.717

%

,

7/31/26

....

6,371

6,127

a

8677765.SQ.FTS.B

,

4

.717

%

,

7/31/26

....

14,241

13,558

a

8678042.SQ.FTS.B

,

4

.717

%

,

7/31/26

....

12,501

6,114

a

8678851.SQ.FTS.B

,

4

.717

%

,

7/31/26

....

26,984

26,245

a

8679954.SQ.FTS.B

,

4

.717

%

,

7/31/26

....

8,380

8,208

a

8678689.SQ.FTS.B

,

4

.718

%

,

7/31/26

....

7,888

7,591

a

8675118.SQ.FTS.B

,

4

.719

%

,

7/31/26

....

7,230

7,074

a

8678470.SQ.FTS.B

,

4

.719

%

,

7/31/26

....

14,469

13,897

a

8679727.SQ.FTS.B

,

4

.72

%

,

7/31/26

.....

3,795

3,687

a

8678369.SQ.FTS.B

,

4

.721

%

,

7/31/26

....

5,051

4,855

a

8676944.SQ.FTS.B

,

4

.724

%

,

7/31/26

....

2,661

2,602

a

8679860.SQ.FTS.B

,

4

.724

%

,

7/31/26

....

3,269

3,075

a

8676897.SQ.FTS.B

,

4

.727

%

,

7/31/26

....

2,152

2,087

a

8678639.SQ.FTS.B

,

5

.023

%

,

7/31/26

....

1,908

1,846

a

8676458.SQ.FTS.B

,

5

.031

%

,

7/31/26

....

3,747

3,671

a

8678231.SQ.FTS.B

,

5

.031

%

,

7/31/26

....

8,825

8,256

a

8679808.SQ.FTS.B

,

5

.031

%

,

7/31/26

....

2,508

2,360

a

8674871.SQ.FTS.B

,

5

.352

%

,

7/31/26

....

1,124

1,104

a

8676076.SQ.FTS.B

,

5

.358

%

,

7/31/26

....

1,327

1,295

a

8677332.SQ.FTS.B

,

5

.593

%

,

7/31/26

....

3,105

2,894

a

8676046.SQ.FTS.B

,

5

.633

%

,

7/31/26

....

269

263

a

8679284.SQ.FTS.B

,

5

.915

%

,

7/31/26

....

919

872

a

8677291.SQ.FTS.B

,

6

.296

%

,

7/31/26

....

355

351

a

8675880.SQ.FTS.B

,

6

.443

%

,

7/31/26

....

1,792

190

8677487.SQ.FTS.B

,

6

.448

%

,

7/31/26

....

28,028

164

a

8675009.SQ.FTS.B

,

6

.449

%

,

7/31/26

....

2,162

1,952

a

8680878.SQ.FTS.B

,

4

.711

%

,

8/01/26

....

1,353

1,316

a

8680154.SQ.FTS.B

,

4

.717

%

,

8/01/26

....

13,209

11,278

a

8680454.SQ.FTS.B

,

4

.717

%

,

8/01/26

....

12,137

11,865

a

8680779.SQ.FTS.B

,

4

.719

%

,

8/01/26

....

13,925

12,318

a

8680585.SQ.FTS.B

,

4

.953

%

,

8/01/26

....

1,363

593

a

8680312.SQ.FTS.B

,

5

.031

%

,

8/01/26

....

13,870

13,280

a

8680899.SQ.FTS.B

,

5

.031

%

,

8/01/26

....

7,355

7,193

a

8680998.SQ.FTS.B

,

5

.346

%

,

8/01/26

....

644

616

a

8680592.SQ.FTS.B

,

5

.351

%

,

8/01/26

....

6,421

3,794

a

8680690.SQ.FTS.B

,

5

.597

%

,

8/01/26

....

4,489

4,347

a

8680760.SQ.FTS.B

,

5

.616

%

,

8/01/26

....

1,069

738

a

8681015.SQ.FTS.B

,

5

.899

%

,

8/01/26

....

612

603

a

8680748.SQ.FTS.B

,

6

.296

%

,

8/01/26

....

725

692

a

8681715.SQ.FTS.B

,

4

.712

%

,

8/02/26

....

2,373

2,319

a

8681766.SQ.FTS.B

,

4

.716

%

,

8/02/26

....

2,929

2,827

a

8681080.SQ.FTS.B

,

4

.717

%

,

8/02/26

....

10,266

9,946

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

61

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8681316.SQ.FTS.B

,

4

.717

%

,

8/02/26

....

$

8,096

$

7,834

a

8681429.SQ.FTS.B

,

4

.717

%

,

8/02/26

....

7,587

7,330

a

8681570.SQ.FTS.B

,

5

.031

%

,

8/02/26

....

1,734

1,701

a

8681734.SQ.FTS.B

,

5

.343

%

,

8/02/26

....

1,850

1,797

a

8681191.SQ.FTS.B

,

5

.344

%

,

8/02/26

....

3,073

3,024

a

8681652.SQ.FTS.B

,

5

.592

%

,

8/02/26

....

2,632

2,536

a

8681586.SQ.FTS.B

,

5

.597

%

,

8/02/26

....

6,687

6,252

a

8681807.SQ.FTS.B

,

5

.597

%

,

8/02/26

....

16,666

16,139

a

8681025.SQ.FTS.B

,

6

.098

%

,

8/02/26

....

3,449

3,373

a

8681754.SQ.FTS.B

,

6

.101

%

,

8/02/26

....

1,482

946

a

8681301.SQ.FTS.B

,

6

.11

%

,

8/02/26

.....

574

563

a

8681677.SQ.FTS.B

,

6

.444

%

,

8/02/26

....

2,387

2,291

a

8681257.SQ.FTS.B

,

6

.449

%

,

8/02/26

....

2,548

2,324

a

8681406.SQ.FTS.B

,

6

.449

%

,

8/02/26

....

1,631

1,526

a

8681518.SQ.FTS.B

,

6

.453

%

,

8/02/26

....

3,548

2,114

a

8686055.SQ.FTS.B

,

4

.714

%

,

8/03/26

....

4,497

4,313

a

8687028.SQ.FTS.B

,

4

.715

%

,

8/03/26

....

7,911

6,951

a

8687076.SQ.FTS.B

,

4

.715

%

,

8/03/26

....

4,756

4,618

a

8683516.SQ.FTS.B

,

4

.717

%

,

8/03/26

....

12,968

12,620

a

8684714.SQ.FTS.B

,

4

.717

%

,

8/03/26

....

18,055

16,847

a

8686777.SQ.FTS.B

,

4

.717

%

,

8/03/26

....

6,787

6,615

a

8684972.SQ.FTS.B

,

4

.718

%

,

8/03/26

....

58,850

23,207

a

8687207.SQ.FTS.B

,

4

.718

%

,

8/03/26

....

32,904

31,853

a

8684467.SQ.FTS.B

,

4

.719

%

,

8/03/26

....

11,006

10,492

a

8686662.SQ.FTS.B

,

4

.719

%

,

8/03/26

....

4,871

4,561

a

8686729.SQ.FTS.B

,

4

.722

%

,

8/03/26

....

4,214

4,095

a

8685583.SQ.FTS.B

,

5

.031

%

,

8/03/26

....

25,085

24,275

a

8686960.SQ.FTS.B

,

5

.031

%

,

8/03/26

....

6,243

1,765

a

8686623.SQ.FTS.B

,

5

.346

%

,

8/03/26

....

3,810

3,702

a

8685570.SQ.FTS.B

,

5

.591

%

,

8/03/26

....

2,200

1,395

a

8686948.SQ.FTS.B

,

5

.627

%

,

8/03/26

....

307

282

a

8686239.SQ.FTS.B

,

5

.914

%

,

8/03/26

....

10,614

6,712

a

8685997.SQ.FTS.B

,

6

.097

%

,

8/03/26

....

2,620

1,945

a

8686023.SQ.FTS.B

,

6

.101

%

,

8/03/26

....

3,655

3,372

a

8687158.SQ.FTS.B

,

6

.304

%

,

8/03/26

....

746

699

a

8687166.SQ.FTS.B

,

6

.444

%

,

8/03/26

....

2,898

1,788

a

8690907.SQ.FTS.B

,

4

.71

%

,

8/04/26

.....

2,576

2,494

a

8691610.SQ.FTS.B

,

4

.71

%

,

8/04/26

.....

2,356

2,253

a

8691528.SQ.FTS.B

,

4

.712

%

,

8/04/26

....

3,027

2,963

a

8691436.SQ.FTS.B

,

4

.715

%

,

8/04/26

....

5,849

4,836

a

8690853.SQ.FTS.B

,

4

.717

%

,

8/04/26

....

2,993

2,925

a

8692062.SQ.FTS.B

,

4

.717

%

,

8/04/26

....

1,251

1,222

a

8692936.SQ.FTS.B

,

4

.717

%

,

8/04/26

....

14,165

13,871

a

8690167.SQ.FTS.B

,

4

.72

%

,

8/04/26

.....

3,053

2,910

a

8691252.SQ.FTS.B

,

4

.934

%

,

8/04/26

....

1,054

997

a

8690351.SQ.FTS.B

,

5

.031

%

,

8/04/26

....

11,359

11,221

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8691686.SQ.FTS.B

,

5

.031

%

,

8/04/26

....

$

7,079

$

6,668

a

8692292.SQ.FTS.B

,

5

.031

%

,

8/04/26

....

9,880

9,580

a

8692686.SQ.FTS.B

,

5

.031

%

,

8/04/26

....

3,980

3,898

a

8693323.SQ.FTS.B

,

5

.031

%

,

8/04/26

....

20,168

19,743

a

8692252.SQ.FTS.B

,

5

.343

%

,

8/04/26

....

2,539

2,123

a

8687773.SQ.FTS.B

,

5

.346

%

,

8/04/26

....

5,081

4,869

a

8689344.SQ.FTS.B

,

5

.346

%

,

8/04/26

....

4,276

4,188

a

8687514.SQ.FTS.B

,

5

.348

%

,

8/04/26

....

13,304

10,268

a

8691936.SQ.FTS.B

,

5

.597

%

,

8/04/26

....

8,110

7,157

a

8687448.SQ.FTS.B

,

5

.608

%

,

8/04/26

....

460

452

a

8690966.SQ.FTS.B

,

6

.427

%

,

8/04/26

....

623

597

a

8692856.SQ.FTS.B

,

6

.445

%

,

8/04/26

....

6,171

3,449

a

8688931.SQ.FTS.B

,

6

.447

%

,

8/04/26

....

5,106

5,030

a

8690701.SQ.FTS.B

,

6

.448

%

,

8/04/26

....

7,700

7,575

a

8690231.SQ.FTS.B

,

6

.45

%

,

8/04/26

.....

7,471

5,198

8691057.SQ.FTS.B

,

6

.451

%

,

8/04/26

....

1,988

113

a

8690943.SQ.FTS.B

,

6

.459

%

,

8/04/26

....

663

649

a

8690988.SQ.FTS.B

,

6

.499

%

,

8/04/26

....

307

297

a

8697839.SQ.FTS.B

,

4

.711

%

,

8/05/26

....

1,651

1,613

a

8694296.SQ.FTS.B

,

4

.714

%

,

8/05/26

....

4,181

4,046

a

8697290.SQ.FTS.B

,

4

.716

%

,

8/05/26

....

7,814

7,516

a

8697514.SQ.FTS.B

,

4

.716

%

,

8/05/26

....

7,425

7,177

a

8694863.SQ.FTS.B

,

4

.717

%

,

8/05/26

....

18,739

18,281

a

8695787.SQ.FTS.B

,

4

.717

%

,

8/05/26

....

7,467

7,310

a

8698426.SQ.FTS.B

,

4

.717

%

,

8/05/26

....

7,482

7,147

a

8696649.SQ.FTS.B

,

4

.718

%

,

8/05/26

....

11,946

11,730

a

8697049.SQ.FTS.B

,

4

.721

%

,

8/05/26

....

3,416

3,254

a

8694682.SQ.FTS.B

,

4

.722

%

,

8/05/26

....

5,441

4,886

a

8695639.SQ.FTS.B

,

4

.722

%

,

8/05/26

....

2,192

2,090

a

8693448.SQ.FTS.B

,

5

.031

%

,

8/05/26

....

21,952

21,485

a

8698279.SQ.FTS.B

,

5

.031

%

,

8/05/26

....

6,655

5,683

a

8697206.SQ.FTS.B

,

5

.341

%

,

8/05/26

....

3,777

2,632

a

8698354.SQ.FTS.B

,

5

.345

%

,

8/05/26

....

2,514

2,450

a

8697448.SQ.FTS.B

,

5

.346

%

,

8/05/26

....

3,102

2,948

a

8697685.SQ.FTS.B

,

5

.346

%

,

8/05/26

....

4,377

4,311

a

8697878.SQ.FTS.B

,

5

.346

%

,

8/05/26

....

3,107

3,002

a

8698119.SQ.FTS.B

,

5

.346

%

,

8/05/26

....

8,538

8,305

a

8695923.SQ.FTS.B

,

5

.598

%

,

8/05/26

....

32,494

31,485

a

8697099.SQ.FTS.B

,

5

.915

%

,

8/05/26

....

5,721

5,570

a

8695717.SQ.FTS.B

,

6

.095

%

,

8/05/26

....

3,606

2,054

a

8695674.SQ.FTS.B

,

6

.289

%

,

8/05/26

....

2,931

2,405

a

8698352.SQ.FTS.B

,

6

.439

%

,

8/05/26

....

864

687

a

8697638.SQ.FTS.B

,

6

.444

%

,

8/05/26

....

2,382

2,336

a

8705759.SQ.FTS.B

,

4

.717

%

,

8/06/26

....

56,496

55,007

a

8701775.SQ.FTS.B

,

4

.718

%

,

8/06/26

....

3,568

3,459

a

8701882.SQ.FTS.B

,

4

.718

%

,

8/06/26

....

18,000

16,234

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

62

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8704881.SQ.FTS.B

,

4

.718

%

,

8/06/26

....

$

4,421

$

4,197

a

8704241.SQ.FTS.B

,

5

.031

%

,

8/06/26

....

21,877

21,466

a

8704966.SQ.FTS.B

,

5

.031

%

,

8/06/26

....

29,743

29,104

a

8701599.SQ.FTS.B

,

5

.346

%

,

8/06/26

....

13,469

12,944

a

8703138.SQ.FTS.B

,

5

.346

%

,

8/06/26

....

6,601

6,417

a

8703402.SQ.FTS.B

,

5

.594

%

,

8/06/26

....

4,762

4,607

a

8701522.SQ.FTS.B

,

5

.596

%

,

8/06/26

....

2,499

2,451

a

8701588.SQ.FTS.B

,

5

.599

%

,

8/06/26

....

826

811

a

8704684.SQ.FTS.B

,

5

.601

%

,

8/06/26

....

3,922

3,819

a

8703226.SQ.FTS.B

,

5

.91

%

,

8/06/26

.....

2,521

2,483

a

8702407.SQ.FTS.B

,

6

.101

%

,

8/06/26

....

20,667

19,522

a

8705703.SQ.FTS.B

,

6

.116

%

,

8/06/26

....

1,073

897

a

8705620.SQ.FTS.B

,

6

.289

%

,

8/06/26

....

3,615

3,377

a

8701858.SQ.FTS.B

,

6

.294

%

,

8/06/26

....

1,866

544

a

8703347.SQ.FTS.B

,

6

.44

%

,

8/06/26

.....

1,425

1,292

a

8704835.SQ.FTS.B

,

6

.449

%

,

8/06/26

....

1,135

1,017

a

8703589.SQ.FTS.B

,

6

.469

%

,

8/06/26

....

467

451

a

8710630.SQ.FTS.B

,

4

.708

%

,

8/07/26

....

1,066

1,040

a

8709775.SQ.FTS.B

,

4

.715

%

,

8/07/26

....

4,770

4,686

a

8710424.SQ.FTS.B

,

4

.717

%

,

8/07/26

....

6,167

6,083

a

8710688.SQ.FTS.B

,

4

.717

%

,

8/07/26

....

3,488

3,371

a

8710044.SQ.FTS.B

,

4

.718

%

,

8/07/26

....

23,416

22,965

a

8709756.SQ.FTS.B

,

5

.023

%

,

8/07/26

....

2,017

1,911

a

8710592.SQ.FTS.B

,

5

.027

%

,

8/07/26

....

2,186

1,698

a

8708587.SQ.FTS.B

,

5

.031

%

,

8/07/26

....

7,095

6,942

a

8708807.SQ.FTS.B

,

5

.031

%

,

8/07/26

....

41,321

40,304

a

8710784.SQ.FTS.B

,

5

.031

%

,

8/07/26

....

58,998

56,531

a

8709880.SQ.FTS.B

,

5

.034

%

,

8/07/26

....

2,709

2,632

a

8709740.SQ.FTS.B

,

5

.347

%

,

8/07/26

....

1,614

1,570

a

8709691.SQ.FTS.B

,

5

.352

%

,

8/07/26

....

2,297

2,167

a

8709982.SQ.FTS.B

,

5

.915

%

,

8/07/26

....

5,968

5,740

a

8709719.SQ.FTS.B

,

5

.934

%

,

8/07/26

....

1,003

917

a

8709944.SQ.FTS.B

,

6

.092

%

,

8/07/26

....

2,632

2,340

a

8708525.SQ.FTS.B

,

6

.106

%

,

8/07/26

....

992

978

a

8709725.SQ.FTS.B

,

6

.442

%

,

8/07/26

....

727

702

a

8706498.SQ.FTS.B

,

6

.447

%

,

8/07/26

....

2,222

2,115

a

8711741.SQ.FTS.B

,

4

.717

%

,

8/08/26

....

5,648

5,090

a

8710953.SQ.FTS.B

,

4

.718

%

,

8/08/26

....

15,619

15,072

a

8711403.SQ.FTS.B

,

4

.719

%

,

8/08/26

....

8,732

8,419

a

8711642.SQ.FTS.B

,

4

.72

%

,

8/08/26

.....

6,243

6,033

a

8711199.SQ.FTS.B

,

5

.026

%

,

8/08/26

....

1,609

1,542

a

8711263.SQ.FTS.B

,

5

.596

%

,

8/08/26

....

3,199

3,020

a

8711304.SQ.FTS.B

,

5

.909

%

,

8/08/26

....

3,434

3,388

a

8711111.SQ.FTS.B

,

6

.447

%

,

8/08/26

.....

1,091

1,013

a

8711222.SQ.FTS.B

,

6

.448

%

,

8/08/26

....

3,244

2,728

a

8712106.SQ.FTS.B

,

4

.713

%

,

8/09/26

....

4,262

4,132

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8711852.SQ.FTS.B

,

4

.717

%

,

8/09/26

....

$

3,307

$

3,213

a

8712219.SQ.FTS.B

,

4

.717

%

,

8/09/26

....

994

969

a

8712239.SQ.FTS.B

,

4

.717

%

,

8/09/26

....

6,829

6,523

a

8711961.SQ.FTS.B

,

4

.72

%

,

8/09/26

.....

7,211

7,038

a

8711907.SQ.FTS.B

,

4

.721

%

,

8/09/26

....

5,289

5,072

a

8712162.SQ.FTS.B

,

4

.721

%

,

8/09/26

....

4,519

4,437

a

8712295.SQ.FTS.B

,

5

.031

%

,

8/09/26

....

6,803

5,807

a

8712494.SQ.FTS.B

,

5

.347

%

,

8/09/26

....

17,209

16,515

a

8712346.SQ.FTS.B

,

5

.352

%

,

8/09/26

....

1,673

1,650

a

8711836.SQ.FTS.B

,

5

.355

%

,

8/09/26

....

1,156

1,129

a

8712421.SQ.FTS.B

,

5

.586

%

,

8/09/26

....

1,253

1,108

a

8712036.SQ.FTS.B

,

5

.899

%

,

8/09/26

....

1,334

1,208

a

8712437.SQ.FTS.B

,

6

.104

%

,

8/09/26

....

2,387

2,336

a

8717035.SQ.FTS.B

,

4

.712

%

,

8/10/26

....

3,451

3,327

a

8716005.SQ.FTS.B

,

4

.717

%

,

8/10/26

....

2,888

2,818

a

8716211.SQ.FTS.B

,

4

.717

%

,

8/10/26

....

26,815

25,983

a

8716618.SQ.FTS.B

,

4

.717

%

,

8/10/26

....

13,301

12,939

a

8713885.SQ.FTS.B

,

4

.718

%

,

8/10/26

....

16,792

16,218

a

8714669.SQ.FTS.B

,

4

.721

%

,

8/10/26

....

5,143

4,985

a

8715469.SQ.FTS.B

,

4

.724

%

,

8/10/26

....

1,521

1,476

a

8715608.SQ.FTS.B

,

4

.73

%

,

8/10/26

.....

1,646

1,600

a

8717490.SQ.FTS.B

,

5

.024

%

,

8/10/26

....

3,155

2,802

a

8716137.SQ.FTS.B

,

5

.034

%

,

8/10/26

....

3,140

3,036

a

8715519.SQ.FTS.B

,

5

.037

%

,

8/10/26

....

1,344

1,314

a

8717155.SQ.FTS.B

,

5

.346

%

,

8/10/26

....

8,563

8,323

a

8717541.SQ.FTS.B

,

5

.346

%

,

8/10/26

....

38,428

37,834

a

8715651.SQ.FTS.B

,

5

.347

%

,

8/10/26

....

11,364

11,237

a

8715534.SQ.FTS.B

,

5

.351

%

,

8/10/26

....

4,411

3,731

a

8716867.SQ.FTS.B

,

5

.594

%

,

8/10/26

....

4,044

3,635

a

8716943.SQ.FTS.B

,

5

.907

%

,

8/10/26

....

930

916

a

8714787.SQ.FTS.B

,

5

.912

%

,

8/10/26

....

12,127

11,820

a

8714584.SQ.FTS.B

,

6

.099

%

,

8/10/26

....

1,184

1,082

a

8716827.SQ.FTS.B

,

6

.104

%

,

8/10/26

....

2,119

1,977

a

8713729.SQ.FTS.B

,

6

.105

%

,

8/10/26

....

1,749

1,113

a

8716067.SQ.FTS.B

,

6

.287

%

,

8/10/26

....

2,030

1,883

a

8716808.SQ.FTS.B

,

6

.434

%

,

8/10/26

....

745

646

a

8717411.SQ.FTS.B

,

6

.439

%

,

8/10/26

....

1,749

1,254

a

8716970.SQ.FTS.B

,

6

.45

%

,

8/10/26

.....

4,929

3,085

a

8719664.SQ.FTS.B

,

4

.71

%

,

8/11/26

.....

2,718

2,627

a

8717949.SQ.FTS.B

,

4

.717

%

,

8/11/26

....

7,419

7,123

a

8721367.SQ.FTS.B

,

4

.717

%

,

8/11/26

....

6,155

6,013

a

8721511.SQ.FTS.B

,

4

.717

%

,

8/11/26

....

34,018

32,624

a

8721296.SQ.FTS.B

,

4

.721

%

,

8/11/26

....

2,642

2,573

a

8721942.SQ.FTS.B

,

5

.026

%

,

8/11/26

....

3,109

2,908

a

8718142.SQ.FTS.B

,

5

.031

%

,

8/11/26

....

50,497

49,221

a

8720577.SQ.FTS.B

,

5

.031

%

,

8/11/26

....

689

638

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

63

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8720786.SQ.FTS.B

,

5

.031

%

,

8/11/26

....

$

4,662

$

4,514

a

8722074.SQ.FTS.B

,

5

.031

%

,

8/11/26

....

43,877

43,029

a

8720915.SQ.FTS.B

,

5

.346

%

,

8/11/26

....

16,116

15,572

a

8720068.SQ.FTS.B

,

5

.911

%

,

8/11/26

....

49,282

30,483

a

8720674.SQ.FTS.B

,

5

.915

%

,

8/11/26

....

2,901

2,811

a

8720913.SQ.FTS.B

,

6

.085

%

,

8/11/26

....

488

472

a

8722036.SQ.FTS.B

,

6

.102

%

,

8/11/26

....

1,967

1,917

a

8721995.SQ.FTS.B

,

6

.113

%

,

8/11/26

....

1,169

1,149

a

8719731.SQ.FTS.B

,

6

.448

%

,

8/11/26

....

11,621

11,406

a

8721150.SQ.FTS.B

,

6

.448

%

,

8/11/26

....

5,627

5,449

a

8722961.SQ.FTS.B

,

4

.712

%

,

8/12/26

....

4,589

3,753

a

8723939.SQ.FTS.B

,

4

.717

%

,

8/12/26

....

8,031

7,728

a

8726137.SQ.FTS.B

,

4

.717

%

,

8/12/26

....

3,398

3,298

a

8726506.SQ.FTS.B

,

4

.718

%

,

8/12/26

....

29,778

28,922

a

8723632.SQ.FTS.B

,

5

.031

%

,

8/12/26

....

11,220

10,986

a

8724768.SQ.FTS.B

,

5

.031

%

,

8/12/26

....

8,437

7,763

a

8724926.SQ.FTS.B

,

5

.031

%

,

8/12/26

....

12,071

11,566

a

8725236.SQ.FTS.B

,

5

.031

%

,

8/12/26

....

5,687

5,480

a

8722122.SQ.FTS.B

,

5

.346

%

,

8/12/26

....

18,346

18,009

a

8725344.SQ.FTS.B

,

5

.346

%

,

8/12/26

....

38,055

37,244

a

8723567.SQ.FTS.B

,

5

.593

%

,

8/12/26

....

4,000

3,793

a

8722921.SQ.FTS.B

,

5

.66

%

,

8/12/26

.....

782

479

a

8725200.SQ.FTS.B

,

6

.093

%

,

8/12/26

....

2,748

2,274

a

8723083.SQ.FTS.B

,

6

.101

%

,

8/12/26

....

25,392

15,496

a

8726084.SQ.FTS.B

,

6

.453

%

,

8/12/26

....

1,885

1,491

a

8731033.SQ.FTS.B

,

4

.715

%

,

8/13/26

....

6,943

6,672

a

8732659.SQ.FTS.B

,

4

.715

%

,

8/13/26

....

8,152

7,204

a

8731110.SQ.FTS.B

,

4

.717

%

,

8/13/26

....

2,930

2,584

a

8731276.SQ.FTS.B

,

4

.717

%

,

8/13/26

....

21,552

20,709

a

8731893.SQ.FTS.B

,

4

.717

%

,

8/13/26

....

25,449

24,651

a

8732928.SQ.FTS.B

,

4

.717

%

,

8/13/26

....

1,184

1,142

a

8732958.SQ.FTS.B

,

4

.717

%

,

8/13/26

....

8,996

8,525

a

8734256.SQ.FTS.B

,

4

.717

%

,

8/13/26

....

6,926

6,660

a

8734427.SQ.FTS.B

,

4

.717

%

,

8/13/26

....

1,416

1,369

a

8734639.SQ.FTS.B

,

4

.717

%

,

8/13/26

....

25,038

24,075

a

8732779.SQ.FTS.B

,

4

.721

%

,

8/13/26

....

1,800

1,717

a

8731142.SQ.FTS.B

,

4

.73

%

,

8/13/26

.....

1,702

1,654

a

8731254.SQ.FTS.B

,

5

.031

%

,

8/13/26

....

2,518

2,308

a

8733116.SQ.FTS.B

,

5

.031

%

,

8/13/26

....

35,431

33,223

a

8735089.SQ.FTS.B

,

5

.031

%

,

8/13/26

....

6,208

4,109

a

8733952.SQ.FTS.B

,

5

.344

%

,

8/13/26

....

5,931

5,714

a

8734081.SQ.FTS.B

,

5

.344

%

,

8/13/26

....

7,759

6,871

a

8733763.SQ.FTS.B

,

5

.346

%

,

8/13/26

....

8,627

7,583

a

8735032.SQ.FTS.B

,

5

.347

%

,

8/13/26

....

2,808

2,726

a

8734489.SQ.FTS.B

,

5

.598

%

,

8/13/26

....

4,007

3,893

a

8732544.SQ.FTS.B

,

6

.098

%

,

8/13/26

....

3,652

3,557

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8731659.SQ.FTS.B

,

6

.1

%

,

8/13/26

......

$

5,307

$

4,768

a

8735076.SQ.FTS.B

,

6

.103

%

,

8/13/26

....

1,403

889

a

8732750.SQ.FTS.B

,

6

.105

%

,

8/13/26

....

842

822

a

8731863.SQ.FTS.B

,

6

.118

%

,

8/13/26

....

694

662

a

8732814.SQ.FTS.B

,

6

.289

%

,

8/13/26

....

2,158

872

a

8731734.SQ.FTS.B

,

6

.449

%

,

8/13/26

....

2,655

2,580

a

8738820.SQ.FTS.B

,

4

.717

%

,

8/14/26

....

51,850

50,000

a

8736591.SQ.FTS.B

,

4

.72

%

,

8/14/26

.....

2,972

2,900

a

8738204.SQ.FTS.B

,

4

.726

%

,

8/14/26

....

2,337

2,272

a

8735411.SQ.FTS.B

,

5

.031

%

,

8/14/26

....

27,758

26,803

a

8738044.SQ.FTS.B

,

5

.031

%

,

8/14/26

....

12,511

10,706

a

8736986.SQ.FTS.B

,

5

.349

%

,

8/14/26

....

10,150

1,887

a

8737181.SQ.FTS.B

,

5

.597

%

,

8/14/26

....

54,295

48,558

a

8738022.SQ.FTS.B

,

5

.6

%

,

8/14/26

......

812

569

a

8738248.SQ.FTS.B

,

5

.909

%

,

8/14/26

....

2,520

2,464

a

8736763.SQ.FTS.B

,

5

.914

%

,

8/14/26

....

5,234

5,093

a

8738355.SQ.FTS.B

,

5

.927

%

,

8/14/26

....

1,247

1,139

a

8736721.SQ.FTS.B

,

6

.102

%

,

8/14/26

....

4,387

4,020

a

8737978.SQ.FTS.B

,

6

.462

%

,

8/14/26

....

826

802

a

8739943.SQ.FTS.B

,

4

.717

%

,

8/15/26

....

630

616

a

8739949.SQ.FTS.B

,

4

.717

%

,

8/15/26

....

7,146

6,945

a

8739218.SQ.FTS.B

,

5

.031

%

,

8/15/26

....

64,635

63,087

a

8739849.SQ.FTS.B

,

5

.346

%

,

8/15/26

....

2,715

2,666

a

8739830.SQ.FTS.B

,

5

.63

%

,

8/15/26

.....

2,084

106

a

8739905.SQ.FTS.B

,

6

.106

%

,

8/15/26

....

2,391

2,167

a

8740649.SQ.FTS.B

,

4

.714

%

,

8/16/26

....

1,670

1,646

8740604.SQ.FTS.B

,

4

.715

%

,

8/16/26

....

6,686

557

a

8740545.SQ.FTS.B

,

4

.719

%

,

8/16/26

....

5,163

5,034

a

8740764.SQ.FTS.B

,

5

.026

%

,

8/16/26

....

1,296

1,275

a

8740713.SQ.FTS.B

,

5

.031

%

,

8/16/26

....

4,100

3,987

a

8740391.SQ.FTS.B

,

5

.597

%

,

8/16/26

....

8,060

7,878

a

8740039.SQ.FTS.B

,

5

.598

%

,

8/16/26

....

27,662

24,574

a

8740302.SQ.FTS.B

,

5

.602

%

,

8/16/26

....

1,424

1,359

a

8740376.SQ.FTS.B

,

5

.914

%

,

8/16/26

....

787

765

a

8740321.SQ.FTS.B

,

6

.289

%

,

8/16/26

....

4,528

4,076

a

8740298.SQ.FTS.B

,

6

.304

%

,

8/16/26

....

393

372

a

8740682.SQ.FTS.B

,

6

.447

%

,

8/16/26

....

1,951

1,864

a

8740791.SQ.FTS.B

,

6

.447

%

,

8/16/26

....

1,521

1,509

a

8741536.SQ.FTS.B

,

4

.716

%

,

8/17/26

....

7,196

7,006

a

8741345.SQ.FTS.B

,

4

.717

%

,

8/17/26

....

4,205

4,116

a

8741830.SQ.FTS.B

,

4

.717

%

,

8/17/26

....

28,123

26,768

a

8741094.SQ.FTS.B

,

5

.031

%

,

8/17/26

....

4,742

4,600

a

8741495.SQ.FTS.B

,

5

.031

%

,

8/17/26

....

3,748

3,628

a

8741770.SQ.FTS.B

,

5

.031

%

,

8/17/26

....

6,144

5,939

a

8740836.SQ.FTS.B

,

5

.345

%

,

8/17/26

....

9,915

9,103

a

8740897.SQ.FTS.B

,

5

.348

%

,

8/17/26

....

9,575

9,210

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

64

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8741383.SQ.FTS.B

,

5

.596

%

,

8/17/26

....

$

11,544

$

10,672

a

8741148.SQ.FTS.B

,

6

.446

%

,

8/17/26

....

20,573

19,478

a

8741593.SQ.FTS.B

,

6

.447

%

,

8/17/26

....

17,499

16,801

a

8744525.SQ.FTS.B

,

4

.717

%

,

8/18/26

....

3,747

3,688

a

8744882.SQ.FTS.B

,

4

.717

%

,

8/18/26

....

3,397

3,300

a

8743960.SQ.FTS.B

,

4

.718

%

,

8/18/26

....

4,018

3,919

a

8744053.SQ.FTS.B

,

4

.726

%

,

8/18/26

....

2,379

2,311

a

8744429.SQ.FTS.B

,

5

.031

%

,

8/18/26

....

5,184

5,009

a

8744955.SQ.FTS.B

,

5

.031

%

,

8/18/26

....

44,896

42,652

a

8745797.SQ.FTS.B

,

5

.031

%

,

8/18/26

....

1,823

1,740

a

8746115.SQ.FTS.B

,

5

.031

%

,

8/18/26

....

18,481

18,078

a

8744573.SQ.FTS.B

,

5

.036

%

,

8/18/26

....

3,524

3,418

a

8743657.SQ.FTS.B

,

5

.346

%

,

8/18/26

....

4,402

4,119

a

8746427.SQ.FTS.B

,

5

.346

%

,

8/18/26

....

19,807

19,456

a

8746316.SQ.FTS.B

,

5

.348

%

,

8/18/26

....

9,083

8,808

a

8744275.SQ.FTS.B

,

5

.597

%

,

8/18/26

....

10,790

10,320

a

8745996.SQ.FTS.B

,

5

.597

%

,

8/18/26

....

4,481

4,403

a

8744604.SQ.FTS.B

,

5

.912

%

,

8/18/26

....

7,891

7,582

a

8745932.SQ.FTS.B

,

6

.087

%

,

8/18/26

....

714

685

a

8746286.SQ.FTS.B

,

6

.098

%

,

8/18/26

....

2,058

1,585

a

8746269.SQ.FTS.B

,

6

.101

%

,

8/18/26

....

1,127

1,029

a

8743880.SQ.FTS.B

,

6

.105

%

,

8/18/26

....

2,999

2,910

a

8744514.SQ.FTS.B

,

6

.122

%

,

8/18/26

....

1,267

983

a

8743812.SQ.FTS.B

,

6

.289

%

,

8/18/26

....

972

887

a

8745840.SQ.FTS.B

,

6

.441

%

,

8/18/26

....

568

562

a

8744090.SQ.FTS.B

,

6

.447

%

,

8/18/26

....

2,748

2,697

a

8745954.SQ.FTS.B

,

6

.447

%

,

8/18/26

....

3,811

2,346

a

8748244.SQ.FTS.B

,

4

.717

%

,

8/19/26

....

6,135

5,826

a

8749050.SQ.FTS.B

,

4

.717

%

,

8/19/26

....

29,796

26,265

a

8749543.SQ.FTS.B

,

4

.717

%

,

8/19/26

....

10,789

10,455

a

8748342.SQ.FTS.B

,

4

.719

%

,

8/19/26

....

12,826

12,492

a

8748154.SQ.FTS.B

,

4

.722

%

,

8/19/26

....

2,591

2,466

a

8748498.SQ.FTS.B

,

5

.027

%

,

8/19/26

....

4,252

3,994

a

8747743.SQ.FTS.B

,

5

.031

%

,

8/19/26

....

6,790

6,485

a

8750220.SQ.FTS.B

,

5

.031

%

,

8/19/26

....

30,492

29,554

a

8748619.SQ.FTS.B

,

5

.345

%

,

8/19/26

....

2,842

2,750

a

8746772.SQ.FTS.B

,

5

.346

%

,

8/19/26

....

3,932

3,860

a

8748452.SQ.FTS.B

,

5

.358

%

,

8/19/26

....

1,312

1,289

a

8747820.SQ.FTS.B

,

5

.597

%

,

8/19/26

....

11,014

10,398

a

8748544.SQ.FTS.B

,

5

.598

%

,

8/19/26

....

5,367

3,613

a

8749826.SQ.FTS.B

,

5

.598

%

,

8/19/26

....

9,154

9,023

a

8748662.SQ.FTS.B

,

5

.912

%

,

8/19/26

....

54,327

12,923

a

8750091.SQ.FTS.B

,

5

.912

%

,

8/19/26

....

5,807

5,735

a

8748470.SQ.FTS.B

,

6

.099

%

,

8/19/26

....

1,598

1,524

a

8749279.SQ.FTS.B

,

6

.101

%

,

8/19/26

....

12,081

11,520

a

8746741.SQ.FTS.B

,

6

.11

%

,

8/19/26

.....

667

654

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8748330.SQ.FTS.B

,

6

.11

%

,

8/19/26

.....

$

1,140

$

750

a

8748645.SQ.FTS.B

,

6

.11

%

,

8/19/26

.....

628

586

a

8747688.SQ.FTS.B

,

6

.447

%

,

8/19/26

....

6,445

3,769

a

8750040.SQ.FTS.B

,

6

.451

%

,

8/19/26

....

1,401

1,253

a

8752889.SQ.FTS.B

,

4

.717

%

,

8/20/26

....

18,788

17,306

a

8755592.SQ.FTS.B

,

4

.717

%

,

8/20/26

....

43,934

42,329

a

8753926.SQ.FTS.B

,

4

.718

%

,

8/20/26

....

9,180

8,884

a

8754762.SQ.FTS.B

,

4

.718

%

,

8/20/26

....

32,675

31,722

a

8756496.SQ.FTS.B

,

4

.718

%

,

8/20/26

....

21,268

20,541

a

8753747.SQ.FTS.B

,

4

.719

%

,

8/20/26

....

3,055

2,973

a

8754270.SQ.FTS.B

,

4

.719

%

,

8/20/26

....

5,708

5,526

a

8756134.SQ.FTS.B

,

4

.719

%

,

8/20/26

....

9,917

9,773

a

8754728.SQ.FTS.B

,

4

.898

%

,

8/20/26

....

201

186

a

8756432.SQ.FTS.B

,

5

.031

%

,

8/20/26

....

5,342

5,200

a

8753793.SQ.FTS.B

,

5

.912

%

,

8/20/26

....

6,172

5,835

a

8753305.SQ.FTS.B

,

6

.098

%

,

8/20/26

....

1,134

1,014

a

8753393.SQ.FTS.B

,

6

.1

%

,

8/20/26

......

9,496

9,018

a

8756830.SQ.FTS.B

,

6

.101

%

,

8/20/26

....

15,111

14,284

a

8753710.SQ.FTS.B

,

6

.304

%

,

8/20/26

....

892

750

a

8753727.SQ.FTS.B

,

6

.44

%

,

8/20/26

.....

1,116

1,095

a

8753313.SQ.FTS.B

,

6

.449

%

,

8/20/26

....

50

49

a

8758803.SQ.FTS.B

,

4

.71

%

,

8/21/26

.....

2,738

2,618

a

8757740.SQ.FTS.B

,

4

.717

%

,

8/21/26

....

3,455

3,360

a

8757806.SQ.FTS.B

,

4

.717

%

,

8/21/26

....

13,615

13,206

a

8758856.SQ.FTS.B

,

4

.717

%

,

8/21/26

....

71,709

69,128

a

8758296.SQ.FTS.B

,

4

.72

%

,

8/21/26

.....

3,446

3,363

a

8760081.SQ.FTS.B

,

5

.026

%

,

8/21/26

....

3,586

3,429

a

8757502.SQ.FTS.B

,

5

.031

%

,

8/21/26

....

14,593

14,252

a

8758163.SQ.FTS.B

,

5

.336

%

,

8/21/26

....

1,088

1,051

a

8760145.SQ.FTS.B

,

5

.338

%

,

8/21/26

....

1,073

1,034

a

8760663.SQ.FTS.B

,

5

.341

%

,

8/21/26

....

2,994

2,908

a

8757068.SQ.FTS.B

,

5

.597

%

,

8/21/26

....

3,854

3,556

a

8757776.SQ.FTS.B

,

5

.597

%

,

8/21/26

....

1,702

1,667

a

8758094.SQ.FTS.B

,

5

.897

%

,

8/21/26

....

1,223

1,164

a

8758432.SQ.FTS.B

,

6

.1

%

,

8/21/26

......

8,338

7,979

a

8757407.SQ.FTS.B

,

6

.101

%

,

8/21/26

....

2,673

2,630

a

8758230.SQ.FTS.B

,

6

.441

%

,

8/21/26

....

1,819

1,745

a

8760172.SQ.FTS.B

,

6

.446

%

,

8/21/26

....

15,759

14,040

a

8760156.SQ.FTS.B

,

6

.447

%

,

8/21/26

....

1,454

961

a

8760699.SQ.FTS.B

,

6

.448

%

,

8/21/26

....

9,183

8,952

a

8760141.SQ.FTS.B

,

6

.457

%

,

8/21/26

....

878

869

a

8761256.SQ.FTS.B

,

4

.714

%

,

8/22/26

....

2,914

2,848

a

8761743.SQ.FTS.B

,

4

.717

%

,

8/22/26

....

4,202

4,101

a

8761842.SQ.FTS.B

,

4

.718

%

,

8/22/26

....

23,190

21,790

a

8761199.SQ.FTS.B

,

4

.719

%

,

8/22/26

....

5,100

4,951

a

8761316.SQ.FTS.B

,

4

.72

%

,

8/22/26

.....

5,045

4,958

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

65

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8761615.SQ.FTS.B

,

4

.721

%

,

8/22/26

....

$

5,385

$

5,220

a

8761140.SQ.FTS.B

,

4

.729

%

,

8/22/26

....

1,983

1,916

8761597.SQ.FTS.B

,

4

.931

%

,

8/22/26

....

2,846

7

a

8761669.SQ.FTS.B

,

5

.026

%

,

8/22/26

....

2,997

2,917

a

8761697.SQ.FTS.B

,

5

.343

%

,

8/22/26

....

2,272

2,226

a

8761244.SQ.FTS.B

,

5

.625

%

,

8/22/26

....

1,655

870

a

8761371.SQ.FTS.B

,

6

.101

%

,

8/22/26

....

22,488

20,893

8761792.SQ.FTS.B

,

6

.449

%

,

8/22/26

....

6,259

1,095

a

8762559.SQ.FTS.B

,

4

.717

%

,

8/23/26

....

6,555

6,249

a

8762644.SQ.FTS.B

,

4

.717

%

,

8/23/26

....

5,268

4,944

a

8762803.SQ.FTS.B

,

4

.719

%

,

8/23/26

....

6,025

5,460

a

8762304.SQ.FTS.B

,

5

.031

%

,

8/23/26

....

7,961

7,723

a

8762394.SQ.FTS.B

,

5

.031

%

,

8/23/26

....

6,954

6,746

a

8762539.SQ.FTS.B

,

5

.041

%

,

8/23/26

....

1,909

1,745

a

8762704.SQ.FTS.B

,

5

.34

%

,

8/23/26

.....

1,971

1,878

a

8762480.SQ.FTS.B

,

5

.343

%

,

8/23/26

....

5,442

4,643

a

8762631.SQ.FTS.B

,

5

.591

%

,

8/23/26

....

1,272

1,248

a

8762852.SQ.FTS.B

,

5

.913

%

,

8/23/26

....

12,189

12,058

a

8762725.SQ.FTS.B

,

6

.447

%

,

8/23/26

....

5,653

5,229

a

8762072.SQ.FTS.B

,

6

.448

%

,

8/23/26

....

12,462

4,306

a

8763903.SQ.FTS.B

,

4

.717

%

,

8/24/26

....

6,099

5,973

a

8764745.SQ.FTS.B

,

4

.717

%

,

8/24/26

....

14,056

12,786

a

8766950.SQ.FTS.B

,

4

.717

%

,

8/24/26

....

7,827

7,585

a

8767140.SQ.FTS.B

,

4

.717

%

,

8/24/26

....

18,538

17,965

a

8767360.SQ.FTS.B

,

4

.717

%

,

8/24/26

....

47,574

45,131

a

8766354.SQ.FTS.B

,

4

.718

%

,

8/24/26

....

15,046

14,903

a

8766859.SQ.FTS.B

,

4

.719

%

,

8/24/26

....

8,502

8,279

a

8765158.SQ.FTS.B

,

4

.721

%

,

8/24/26

....

2,785

2,677

a

8765505.SQ.FTS.B

,

4

.721

%

,

8/24/26

....

5,771

5,324

a

8765380.SQ.FTS.B

,

4

.725

%

,

8/24/26

....

2,871

2,595

a

8765466.SQ.FTS.B

,

4

.73

%

,

8/24/26

.....

2,067

1,948

a

8765282.SQ.FTS.B

,

4

.929

%

,

8/24/26

....

2,664

1,939

a

8766802.SQ.FTS.B

,

5

.031

%

,

8/24/26

....

2,439

2,408

a

8765358.SQ.FTS.B

,

5

.605

%

,

8/24/26

....

1,430

1,374

a

8764663.SQ.FTS.B

,

6

.097

%

,

8/24/26

....

1,408

1,391

a

8765591.SQ.FTS.B

,

6

.102

%

,

8/24/26

....

1,889

1,836

a

8764309.SQ.FTS.B

,

6

.319

%

,

8/24/26

....

541

475

a

8765325.SQ.FTS.B

,

6

.439

%

,

8/24/26

....

2,355

1,943

a

8764323.SQ.FTS.B

,

6

.446

%

,

8/24/26

....

8,280

6,656

a

8765761.SQ.FTS.B

,

6

.447

%

,

8/24/26

....

28,413

27,384

a

8767028.SQ.FTS.B

,

6

.447

%

,

8/24/26

....

7,411

7,155

a

8770518.SQ.FTS.B

,

4

.713

%

,

8/25/26

....

3,051

2,903

a

8770644.SQ.FTS.B

,

4

.717

%

,

8/25/26

....

5,283

5,128

a

8771837.SQ.FTS.B

,

4

.717

%

,

8/25/26

....

25,494

24,925

a

8770437.SQ.FTS.B

,

4

.719

%

,

8/25/26

....

10,889

10,543

a

8768490.SQ.FTS.B

,

4

.72

%

,

8/25/26

.....

7,582

7,335

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8767815.SQ.FTS.B

,

4

.927

%

,

8/25/26

....

$

213

$

206

a

8770401.SQ.FTS.B

,

4

.939

%

,

8/25/26

....

3,857

3,620

a

8768709.SQ.FTS.B

,

5

.031

%

,

8/25/26

....

14,952

14,626

a

8770361.SQ.FTS.B

,

5

.031

%

,

8/25/26

....

4,296

4,217

a

8767847.SQ.FTS.B

,

5

.343

%

,

8/25/26

....

1,854

1,761

a

8770305.SQ.FTS.B

,

5

.346

%

,

8/25/26

....

3,858

3,752

a

8771824.SQ.FTS.B

,

5

.356

%

,

8/25/26

....

1,314

1,111

a

8768370.SQ.FTS.B

,

5

.602

%

,

8/25/26

....

3,589

3,389

a

8767882.SQ.FTS.B

,

5

.911

%

,

8/25/26

....

16,304

15,940

a

8770878.SQ.FTS.B

,

5

.912

%

,

8/25/26

....

56,893

55,495

a

8768683.SQ.FTS.B

,

6

.093

%

,

8/25/26

....

742

716

a

8770549.SQ.FTS.B

,

6

.102

%

,

8/25/26

....

5,891

5,710

a

8770705.SQ.FTS.B

,

6

.102

%

,

8/25/26

....

10,613

10,358

a

8768445.SQ.FTS.B

,

6

.454

%

,

8/25/26

....

892

858

a

8772198.SQ.FTS.B

,

4

.717

%

,

8/26/26

....

44,820

44,027

a

8773755.SQ.FTS.B

,

4

.717

%

,

8/26/26

....

13,224

12,159

a

8775520.SQ.FTS.B

,

4

.717

%

,

8/26/26

....

10,101

9,764

a

8775669.SQ.FTS.B

,

4

.717

%

,

8/26/26

....

6,551

6,335

a

8776086.SQ.FTS.B

,

4

.717

%

,

8/26/26

....

12,012

11,717

a

8776617.SQ.FTS.B

,

4

.717

%

,

8/26/26

....

1,374

1,336

a

8775403.SQ.FTS.B

,

4

.72

%

,

8/26/26

.....

8,970

8,626

a

8772114.SQ.FTS.B

,

4

.937

%

,

8/26/26

....

4,023

3,799

a

8774054.SQ.FTS.B

,

4

.938

%

,

8/26/26

....

10,955

10,828

a

8776257.SQ.FTS.B

,

5

.031

%

,

8/26/26

....

13,620

13,346

a

8773689.SQ.FTS.B

,

5

.327

%

,

8/26/26

....

527

510

a

8775051.SQ.FTS.B

,

5

.597

%

,

8/26/26

....

9,605

9,475

a

8776448.SQ.FTS.B

,

5

.598

%

,

8/26/26

....

14,592

14,173

a

8776630.SQ.FTS.B

,

5

.599

%

,

8/26/26

....

4,923

4,855

a

8776214.SQ.FTS.B

,

5

.601

%

,

8/26/26

....

1,334

1,323

a

8773992.SQ.FTS.B

,

5

.603

%

,

8/26/26

....

4,022

3,674

a

8775795.SQ.FTS.B

,

5

.909

%

,

8/26/26

....

7,342

5,281

a

8773712.SQ.FTS.B

,

6

.091

%

,

8/26/26

....

1,345

1,274

a

8775938.SQ.FTS.B

,

6

.096

%

,

8/26/26

....

1,784

1,702

a

8773519.SQ.FTS.B

,

6

.289

%

,

8/26/26

....

12,595

7,448

a

8775376.SQ.FTS.B

,

6

.436

%

,

8/26/26

....

903

867

a

8775905.SQ.FTS.B

,

6

.447

%

,

8/26/26

....

856

843

a

8775508.SQ.FTS.B

,

6

.454

%

,

8/26/26

....

4,436

1,071

a

8776077.SQ.FTS.B

,

6

.454

%

,

8/26/26

....

799

591

a

8783684.SQ.FTS.B

,

4

.711

%

,

8/27/26

....

3,633

3,511

a

8779876.SQ.FTS.B

,

4

.715

%

,

8/27/26

....

6,251

6,013

a

8780013.SQ.FTS.B

,

4

.717

%

,

8/27/26

....

2,118

2,059

a

8780880.SQ.FTS.B

,

4

.717

%

,

8/27/26

....

8,545

7,601

a

8781807.SQ.FTS.B

,

4

.717

%

,

8/27/26

....

8,266

8,064

a

8783370.SQ.FTS.B

,

4

.717

%

,

8/27/26

....

13,137

12,649

a

8780045.SQ.FTS.B

,

4

.718

%

,

8/27/26

....

20,277

19,627

a

8781092.SQ.FTS.B

,

4

.718

%

,

8/27/26

....

8,490

8,292

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

66

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8782555.SQ.FTS.B

,

4

.72

%

,

8/27/26

.....

$

9,615

$

8,871

a

8779207.SQ.FTS.B

,

4

.969

%

,

8/27/26

....

329

319

a

8779842.SQ.FTS.B

,

5

.031

%

,

8/27/26

....

1,490

1,372

a

8781315.SQ.FTS.B

,

5

.031

%

,

8/27/26

....

27,847

26,783

a

8783620.SQ.FTS.B

,

5

.031

%

,

8/27/26

....

5,183

5,008

a

8780769.SQ.FTS.B

,

5

.34

%

,

8/27/26

.....

2,073

2,036

a

8783807.SQ.FTS.B

,

5

.595

%

,

8/27/26

....

5,033

4,554

a

8779347.SQ.FTS.B

,

6

.1

%

,

8/27/26

......

25,519

24,514

a

8780857.SQ.FTS.B

,

6

.267

%

,

8/27/26

....

1,039

541

a

8782761.SQ.FTS.B

,

6

.289

%

,

8/27/26

....

27,473

26,638

a

8782013.SQ.FTS.B

,

6

.446

%

,

8/27/26

....

33,446

32,225

a

8781935.SQ.FTS.B

,

6

.451

%

,

8/27/26

....

233

231

a

8785681.SQ.FTS.B

,

4

.714

%

,

8/28/26

....

4,556

4,353

a

8783959.SQ.FTS.B

,

4

.717

%

,

8/28/26

....

2,845

2,792

a

8784012.SQ.FTS.B

,

4

.717

%

,

8/28/26

....

21,411

20,752

a

8787198.SQ.FTS.B

,

4

.717

%

,

8/28/26

....

6,896

6,636

a

8787368.SQ.FTS.B

,

4

.717

%

,

8/28/26

....

17,791

17,343

a

8788146.SQ.FTS.B

,

4

.717

%

,

8/28/26

....

11,665

10,860

a

8786475.SQ.FTS.B

,

4

.718

%

,

8/28/26

....

17,152

16,377

a

8787951.SQ.FTS.B

,

4

.719

%

,

8/28/26

....

10,362

10,108

a

8786772.SQ.FTS.B

,

4

.721

%

,

8/28/26

....

6,224

6,031

a

8786350.SQ.FTS.B

,

4

.728

%

,

8/28/26

....

2,517

2,311

a

8786873.SQ.FTS.B

,

4

.728

%

,

8/28/26

....

1,585

1,557

a

8787750.SQ.FTS.B

,

4

.738

%

,

8/28/26

....

1,205

1,115

a

8787719.SQ.FTS.B

,

5

.017

%

,

8/28/26

....

1,015

994

a

8786625.SQ.FTS.B

,

5

.031

%

,

8/28/26

....

5,269

5,074

a

8786888.SQ.FTS.B

,

5

.031

%

,

8/28/26

....

8,453

8,082

a

8787248.SQ.FTS.B

,

5

.031

%

,

8/28/26

....

7,057

6,727

a

8786080.SQ.FTS.B

,

5

.346

%

,

8/28/26

....

18,381

17,354

a

8784546.SQ.FTS.B

,

5

.911

%

,

8/28/26

....

12,946

12,290

a

8785078.SQ.FTS.B

,

5

.917

%

,

8/28/26

....

4,906

4,612

a

8785237.SQ.FTS.B

,

6

.101

%

,

8/28/26

....

13,098

12,551

a

8787785.SQ.FTS.B

,

6

.101

%

,

8/28/26

....

6,599

6,354

a

8786720.SQ.FTS.B

,

6

.105

%

,

8/28/26

....

4,223

4,119

a

8786363.SQ.FTS.B

,

6

.289

%

,

8/28/26

....

3,571

3,480

a

8787025.SQ.FTS.B

,

6

.289

%

,

8/28/26

....

2,908

2,860

a

8788129.SQ.FTS.B

,

6

.297

%

,

8/28/26

....

2,306

2,082

a

8786823.SQ.FTS.B

,

6

.447

%

,

8/28/26

....

6,142

5,886

a

8787299.SQ.FTS.B

,

6

.451

%

,

8/28/26

....

2,775

2,729

a

8785764.SQ.FTS.B

,

6

.462

%

,

8/28/26

....

1,057

960

a

8789222.SQ.FTS.B

,

4

.717

%

,

9/01/26

....

1,716

1,508

a

8789475.SQ.FTS.B

,

4

.717

%

,

9/01/26

....

4,754

4,559

a

8789658.SQ.FTS.B

,

4

.72

%

,

9/01/26

.....

7,320

7,055

a

8789847.SQ.FTS.B

,

4

.731

%

,

9/01/26

....

1,687

1,634

a

8789575.SQ.FTS.B

,

5

.02

%

,

9/01/26

.....

1,536

1,484

a

8789258.SQ.FTS.B

,

5

.031

%

,

9/01/26

....

4,824

4,666

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8789927.SQ.FTS.B

,

5

.034

%

,

9/01/26

....

$

3,394

$

3,302

a

8789135.SQ.FTS.B

,

5

.344

%

,

9/01/26

....

7,685

7,328

a

8789532.SQ.FTS.B

,

5

.349

%

,

9/01/26

....

3,931

3,787

a

8789824.SQ.FTS.B

,

5

.356

%

,

9/01/26

....

2,302

2,168

a

8789114.SQ.FTS.B

,

5

.597

%

,

9/01/26

....

2,734

2,540

a

8789181.SQ.FTS.B

,

5

.597

%

,

9/01/26

....

7,104

6,839

a

8789863.SQ.FTS.B

,

5

.598

%

,

9/01/26

....

6,445

6,042

a

8789282.SQ.FTS.B

,

5

.912

%

,

9/01/26

....

16,188

15,885

a

8789760.SQ.FTS.B

,

6

.094

%

,

9/01/26

....

4,830

2,673

a

8789620.SQ.FTS.B

,

6

.447

%

,

9/01/26

....

2,212

2,028

a

8789593.SQ.FTS.B

,

6

.449

%

,

9/01/26

....

2,389

2,274

a

8789787.SQ.FTS.B

,

6

.454

%

,

9/01/26

....

2,417

2,287

a

8790093.SQ.FTS.B

,

4

.705

%

,

9/02/26

....

1,430

1,367

a

8790108.SQ.FTS.B

,

4

.717

%

,

9/02/26

....

2,653

2,567

a

8790416.SQ.FTS.B

,

4

.719

%

,

9/02/26

....

11,559

11,245

a

8790323.SQ.FTS.B

,

4

.72

%

,

9/02/26

.....

8,308

8,028

a

8790172.SQ.FTS.B

,

4

.722

%

,

9/02/26

....

2,986

2,873

a

8790213.SQ.FTS.B

,

4

.725

%

,

9/02/26

....

2,902

2,822

a

8790708.SQ.FTS.B

,

4

.936

%

,

9/02/26

....

3,874

3,693

a

8790247.SQ.FTS.B

,

5

.031

%

,

9/02/26

....

7,316

6,688

a

8789997.SQ.FTS.B

,

5

.346

%

,

9/02/26

....

12,186

11,601

a

8790411.SQ.FTS.B

,

6

.322

%

,

9/02/26

....

407

389

a

8792148.SQ.FTS.B

,

4

.712

%

,

9/03/26

....

5,988

4,908

a

8792270.SQ.FTS.B

,

4

.715

%

,

9/03/26

....

6,402

6,089

a

8793302.SQ.FTS.B

,

4

.716

%

,

9/03/26

....

9,252

8,924

a

8791083.SQ.FTS.B

,

4

.717

%

,

9/03/26

....

14,050

13,549

a

8792408.SQ.FTS.B

,

4

.717

%

,

9/03/26

....

15,794

15,349

a

8792728.SQ.FTS.B

,

4

.717

%

,

9/03/26

....

3,508

2,903

a

8793191.SQ.FTS.B

,

4

.717

%

,

9/03/26

....

1,127

1,120

a

8793252.SQ.FTS.B

,

4

.718

%

,

9/03/26

....

2,825

2,781

a

8791725.SQ.FTS.B

,

4

.72

%

,

9/03/26

.....

7,202

6,971

a

8792108.SQ.FTS.B

,

4

.724

%

,

9/03/26

....

3,431

3,279

a

8794915.SQ.FTS.B

,

4

.738

%

,

9/03/26

....

1,146

1,105

a

8790769.SQ.FTS.B

,

4

.931

%

,

9/03/26

....

1,003

626

a

8793066.SQ.FTS.B

,

4

.937

%

,

9/03/26

....

2,425

96

a

8794025.SQ.FTS.B

,

5

.031

%

,

9/03/26

....

17,960

17,571

a

8791604.SQ.FTS.B

,

5

.037

%

,

9/03/26

....

3,628

3,448

a

8790902.SQ.FTS.B

,

5

.344

%

,

9/03/26

....

5,719

5,316

a

8793092.SQ.FTS.B

,

5

.352

%

,

9/03/26

....

2,842

2,776

a

8794524.SQ.FTS.B

,

5

.362

%

,

9/03/26

....

860

848

a

8792017.SQ.FTS.B

,

5

.597

%

,

9/03/26

....

3,891

2,973

a

8793458.SQ.FTS.B

,

5

.597

%

,

9/03/26

....

40,692

34,935

a

8794375.SQ.FTS.B

,

5

.598

%

,

9/03/26

....

8,236

7,995

a

8794887.SQ.FTS.B

,

5

.618

%

,

9/03/26

....

601

558

a

8794817.SQ.FTS.B

,

5

.914

%

,

9/03/26

....

766

746

a

8791974.SQ.FTS.B

,

6

.102

%

,

9/03/26

....

2,254

2,156

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

67

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8790849.SQ.FTS.B

,

6

.103

%

,

9/03/26

....

$

4,770

$

4,673

a

8794551.SQ.FTS.B

,

6

.114

%

,

9/03/26

....

1,278

1,112

a

8794017.SQ.FTS.B

,

6

.271

%

,

9/03/26

....

1,075

830

a

8790779.SQ.FTS.B

,

6

.289

%

,

9/03/26

....

2,487

2,202

a

8794698.SQ.FTS.B

,

6

.449

%

,

9/03/26

....

7,131

6,903

a

8793999.SQ.FTS.B

,

6

.46

%

,

9/03/26

.....

2,061

1,346

a

8795579.SQ.FTS.B

,

4

.717

%

,

9/04/26

....

9,163

8,761

a

8797127.SQ.FTS.B

,

4

.717

%

,

9/04/26

....

31,663

30,798

a

8798801.SQ.FTS.B

,

4

.717

%

,

9/04/26

....

14,031

13,541

a

8799517.SQ.FTS.B

,

4

.717

%

,

9/04/26

....

24,131

23,159

a

8798733.SQ.FTS.B

,

4

.719

%

,

9/04/26

....

5,015

4,803

a

8796898.SQ.FTS.B

,

4

.721

%

,

9/04/26

....

6,798

6,515

a

8795518.SQ.FTS.B

,

4

.727

%

,

9/04/26

....

2,785

2,518

a

8797810.SQ.FTS.B

,

4

.937

%

,

9/04/26

....

20,890

20,017

a

8798286.SQ.FTS.B

,

4

.95

%

,

9/04/26

.....

210

195

a

8798958.SQ.FTS.B

,

5

.031

%

,

9/04/26

....

1,804

1,734

a

8798977.SQ.FTS.B

,

5

.031

%

,

9/04/26

....

9,817

8,979

a

8799475.SQ.FTS.B

,

5

.031

%

,

9/04/26

....

6,278

6,067

a

8795948.SQ.FTS.B

,

5

.346

%

,

9/04/26

....

36,869

35,681

a

8798784.SQ.FTS.B

,

5

.347

%

,

9/04/26

....

2,380

1,630

a

8799264.SQ.FTS.B

,

5

.348

%

,

9/04/26

....

10,743

10,491

a

8797068.SQ.FTS.B

,

5

.352

%

,

9/04/26

....

1,661

1,593

a

8799139.SQ.FTS.B

,

5

.603

%

,

9/04/26

....

2,846

2,601

a

8799069.SQ.FTS.B

,

5

.902

%

,

9/04/26

....

2,416

2,010

a

8795707.SQ.FTS.B

,

5

.915

%

,

9/04/26

....

4,335

4,225

a

8798701.SQ.FTS.B

,

5

.917

%

,

9/04/26

....

3,805

3,654

a

8798668.SQ.FTS.B

,

6

.093

%

,

9/04/26

....

1,661

1,609

a

8795530.SQ.FTS.B

,

6

.094

%

,

9/04/26

....

1,702

1,673

a

8799107.SQ.FTS.B

,

6

.437

%

,

9/04/26

....

1,923

1,656

a

8797767.SQ.FTS.B

,

6

.443

%

,

9/04/26

....

4,879

4,695

a

8799183.SQ.FTS.B

,

6

.445

%

,

9/04/26

....

6,051

5,750

a

8796879.SQ.FTS.B

,

6

.447

%

,

9/04/26

....

700

440

a

8797723.SQ.FTS.B

,

6

.447

%

,

9/04/26

....

2,831

2,667

a

8798290.SQ.FTS.B

,

6

.447

%

,

9/04/26

....

21,913

21,047

a

8795309.SQ.FTS.B

,

6

.448

%

,

9/04/26

....

18,273

16,927

a

8795908.SQ.FTS.B

,

6

.451

%

,

9/04/26

....

2,854

2,324

a

8799168.SQ.FTS.B

,

6

.453

%

,

9/04/26

....

2,460

1,702

a

8797037.SQ.FTS.B

,

6

.464

%

,

9/04/26

....

972

910

a

8800150.SQ.FTS.B

,

4

.717

%

,

9/05/26

....

4,793

4,639

a

8800898.SQ.FTS.B

,

4

.717

%

,

9/05/26

....

10,510

10,200

a

8801781.SQ.FTS.B

,

4

.717

%

,

9/05/26

....

2,330

2,246

a

8803128.SQ.FTS.B

,

4

.717

%

,

9/05/26

....

47,691

45,759

a

8802620.SQ.FTS.B

,

4

.718

%

,

9/05/26

....

43,237

41,654

a

8801264.SQ.FTS.B

,

4

.721

%

,

9/05/26

....

6,334

6,132

a

8799664.SQ.FTS.B

,

5

.031

%

,

9/05/26

....

22,754

21,981

a

8801692.SQ.FTS.B

,

5

.031

%

,

9/05/26

....

6,200

5,633

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8803601.SQ.FTS.B

,

5

.031

%

,

9/05/26

....

$

19,352

$

16,440

a

8800534.SQ.FTS.B

,

5

.346

%

,

9/05/26

....

7,691

7,535

a

8800849.SQ.FTS.B

,

5

.346

%

,

9/05/26

....

1,074

1,054

a

8801426.SQ.FTS.B

,

5

.346

%

,

9/05/26

....

9,234

8,436

a

8801825.SQ.FTS.B

,

5

.346

%

,

9/05/26

....

22,429

21,766

a

8800050.SQ.FTS.B

,

5

.598

%

,

9/05/26

....

2,777

2,733

a

8800255.SQ.FTS.B

,

5

.91

%

,

9/05/26

.....

2,249

2,157

a

8801639.SQ.FTS.B

,

6

.09

%

,

9/05/26

.....

1,384

1,330

a

8800416.SQ.FTS.B

,

6

.444

%

,

9/05/26

....

1,605

1,575

a

8801162.SQ.FTS.B

,

6

.446

%

,

9/05/26

....

5,191

5,099

a

8800369.SQ.FTS.B

,

6

.455

%

,

9/05/26

....

1,346

1,200

a

8808087.SQ.FTS.B

,

4

.715

%

,

9/06/26

....

4,265

4,025

a

8809654.SQ.FTS.B

,

4

.715

%

,

9/06/26

....

8,790

7,960

a

8807369.SQ.FTS.B

,

4

.717

%

,

9/06/26

....

31,498

29,873

a

8808137.SQ.FTS.B

,

5

.031

%

,

9/06/26

....

9,874

8,838

a

8808418.SQ.FTS.B

,

5

.031

%

,

9/06/26

....

5,822

5,585

a

8808587.SQ.FTS.B

,

5

.031

%

,

9/06/26

....

42,204

41,679

a

8809923.SQ.FTS.B

,

5

.031

%

,

9/06/26

....

11,686

8,945

a

8810133.SQ.FTS.B

,

5

.031

%

,

9/06/26

....

26,663

25,682

a

8806400.SQ.FTS.B

,

5

.346

%

,

9/06/26

....

26,204

25,902

a

8810454.SQ.FTS.B

,

5

.346

%

,

9/06/26

....

34,168

33,613

a

8806314.SQ.FTS.B

,

5

.349

%

,

9/06/26

....

5,324

3,953

a

8806269.SQ.FTS.B

,

6

.083

%

,

9/06/26

....

1,130

1,032

a

8809991.SQ.FTS.B

,

6

.095

%

,

9/06/26

....

1,868

1,803

a

8809873.SQ.FTS.B

,

6

.102

%

,

9/06/26

....

1,537

1,487

a

8809901.SQ.FTS.B

,

6

.447

%

,

9/06/26

....

2,056

1,915

a

8810018.SQ.FTS.B

,

6

.447

%

,

9/06/26

....

7,453

6,838

a

8810686.SQ.FTS.B

,

4

.708

%

,

9/07/26

....

2,241

2,158

a

8813727.SQ.FTS.B

,

4

.712

%

,

9/07/26

....

5,003

4,509

a

8813315.SQ.FTS.B

,

4

.715

%

,

9/07/26

....

3,057

2,943

a

8813836.SQ.FTS.B

,

4

.715

%

,

9/07/26

....

7,027

6,740

a

8813473.SQ.FTS.B

,

4

.716

%

,

9/07/26

....

5,371

4,595

a

8812752.SQ.FTS.B

,

4

.717

%

,

9/07/26

....

9,885

9,488

a

8813584.SQ.FTS.B

,

4

.717

%

,

9/07/26

....

7,452

7,307

a

8814270.SQ.FTS.B

,

4

.717

%

,

9/07/26

....

58,345

56,850

a

8814047.SQ.FTS.B

,

4

.718

%

,

9/07/26

....

3,633

3,560

a

8811742.SQ.FTS.B

,

4

.719

%

,

9/07/26

....

3,528

3,294

a

8812085.SQ.FTS.B

,

4

.719

%

,

9/07/26

....

6,605

6,256

a

8812972.SQ.FTS.B

,

4

.719

%

,

9/07/26

....

2,020

1,940

a

8813523.SQ.FTS.B

,

4

.721

%

,

9/07/26

....

5,957

5,735

a

8814123.SQ.FTS.B

,

4

.721

%

,

9/07/26

....

5,137

5,017

a

8813216.SQ.FTS.B

,

4

.723

%

,

9/07/26

....

4,115

3,986

a

8813468.SQ.FTS.B

,

4

.927

%

,

9/07/26

....

1,064

1,027

a

8814039.SQ.FTS.B

,

4

.942

%

,

9/07/26

....

169

168

a

8813965.SQ.FTS.B

,

5

.022

%

,

9/07/26

....

1,451

1,420

a

8811442.SQ.FTS.B

,

5

.031

%

,

9/07/26

....

7,944

7,509

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

68

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8812238.SQ.FTS.B

,

5

.031

%

,

9/07/26

....

$

3,052

$

2,944

a

8813810.SQ.FTS.B

,

5

.338

%

,

9/07/26

....

1,598

1,470

a

8813370.SQ.FTS.B

,

5

.347

%

,

9/07/26

....

1,379

1,358

a

8813364.SQ.FTS.B

,

5

.622

%

,

9/07/26

....

690

547

a

8812357.SQ.FTS.B

,

5

.636

%

,

9/07/26

....

1,010

762

a

8813275.SQ.FTS.B

,

5

.914

%

,

9/07/26

....

3,487

3,306

a

8813693.SQ.FTS.B

,

5

.922

%

,

9/07/26

....

1,992

1,767

a

8813414.SQ.FTS.B

,

6

.102

%

,

9/07/26

....

1,823

1,775

a

8811833.SQ.FTS.B

,

6

.289

%

,

9/07/26

....

6,082

5,847

a

8812405.SQ.FTS.B

,

6

.289

%

,

9/07/26

....

7,559

6,985

a

8814261.SQ.FTS.B

,

6

.289

%

,

9/07/26

....

629

522

a

8811272.SQ.FTS.B

,

6

.446

%

,

9/07/26

....

4,248

4,157

a

8810798.SQ.FTS.B

,

6

.448

%

,

9/07/26

....

11,545

11,148

a

8815588.SQ.FTS.B

,

4

.717

%

,

9/08/26

....

3,412

3,184

a

8815407.SQ.FTS.B

,

4

.721

%

,

9/08/26

....

6,043

5,796

a

8815160.SQ.FTS.B

,

5

.029

%

,

9/08/26

....

3,736

3,652

a

8815472.SQ.FTS.B

,

5

.037

%

,

9/08/26

....

1,295

1,265

a

8815364.SQ.FTS.B

,

5

.345

%

,

9/08/26

....

2,952

2,880

a

8815308.SQ.FTS.B

,

5

.6

%

,

9/08/26

......

5,154

4,931

a

8815487.SQ.FTS.B

,

5

.602

%

,

9/08/26

....

4,589

4,291

a

8815541.SQ.FTS.B

,

5

.602

%

,

9/08/26

....

1,643

1,567

a

8815108.SQ.FTS.B

,

5

.603

%

,

9/08/26

....

1,517

1,460

a

8815560.SQ.FTS.B

,

6

.103

%

,

9/08/26

....

2,045

1,943

a

8814700.SQ.FTS.B

,

6

.446

%

,

9/08/26

....

30,843

29,967

a

8815130.SQ.FTS.B

,

6

.451

%

,

9/08/26

....

3,154

2,825

a

8816075.SQ.FTS.B

,

4

.711

%

,

9/09/26

....

2,924

2,568

a

8815640.SQ.FTS.B

,

4

.716

%

,

9/09/26

....

3,985

3,818

a

8815997.SQ.FTS.B

,

4

.716

%

,

9/09/26

....

7,901

7,698

a

8816131.SQ.FTS.B

,

4

.717

%

,

9/09/26

....

17,457

14,591

a

8815896.SQ.FTS.B

,

4

.722

%

,

9/09/26

....

3,763

3,681

a

8815774.SQ.FTS.B

,

5

.031

%

,

9/09/26

....

10,071

9,832

a

8816272.SQ.FTS.B

,

5

.031

%

,

9/09/26

....

18,260

17,098

a

8815694.SQ.FTS.B

,

5

.344

%

,

9/09/26

....

2,856

2,713

a

8815736.SQ.FTS.B

,

5

.92

%

,

9/09/26

.....

2,494

2,399

a

8815968.SQ.FTS.B

,

6

.096

%

,

9/09/26

....

2,573

2,440

a

8816114.SQ.FTS.B

,

6

.114

%

,

9/09/26

....

442

432

a

8815928.SQ.FTS.B

,

6

.295

%

,

9/09/26

....

2,552

2,435

a

8817238.SQ.FTS.B

,

4

.713

%

,

9/10/26

....

4,466

4,306

a

8820703.SQ.FTS.B

,

4

.714

%

,

9/10/26

....

4,681

4,517

a

8817729.SQ.FTS.B

,

4

.715

%

,

9/10/26

....

7,111

6,892

a

8820029.SQ.FTS.B

,

4

.715

%

,

9/10/26

....

6,609

6,330

a

8817894.SQ.FTS.B

,

4

.717

%

,

9/10/26

....

75,309

72,525

a

8820101.SQ.FTS.B

,

4

.717

%

,

9/10/26

....

1,348

1,317

a

8820939.SQ.FTS.B

,

4

.717

%

,

9/10/26

....

12,961

12,614

a

8820118.SQ.FTS.B

,

4

.718

%

,

9/10/26

....

32,440

31,256

a

8817077.SQ.FTS.B

,

4

.728

%

,

9/10/26

....

2,323

2,201

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8819236.SQ.FTS.B

,

5

.031

%

,

9/10/26

....

$

23,530

$

22,827

a

8817060.SQ.FTS.B

,

5

.358

%

,

9/10/26

....

1,849

1,767

a

8819712.SQ.FTS.B

,

5

.597

%

,

9/10/26

....

19,759

19,022

a

8820580.SQ.FTS.B

,

5

.597

%

,

9/10/26

....

9,540

9,161

a

8820690.SQ.FTS.B

,

5

.61

%

,

9/10/26

.....

1,784

1,703

a

8817448.SQ.FTS.B

,

5

.628

%

,

9/10/26

....

5,618

5,395

a

8819206.SQ.FTS.B

,

5

.92

%

,

9/10/26

.....

1,661

1,606

a

8819233.SQ.FTS.B

,

6

.437

%

,

9/10/26

....

508

481

a

8820768.SQ.FTS.B

,

6

.447

%

,

9/10/26

....

8,406

8,255

a

8820753.SQ.FTS.B

,

6

.452

%

,

9/10/26

....

1,613

623

a

8821240.SQ.FTS.B

,

4

.717

%

,

9/11/26

....

1,534

1,469

a

8821540.SQ.FTS.B

,

4

.717

%

,

9/11/26

....

865

842

a

8823877.SQ.FTS.B

,

4

.717

%

,

9/11/26

....

13,892

13,445

a

8825549.SQ.FTS.B

,

4

.717

%

,

9/11/26

....

1,947

1,907

a

8825604.SQ.FTS.B

,

4

.717

%

,

9/11/26

....

10,460

10,128

a

8822702.SQ.FTS.B

,

4

.718

%

,

9/11/26

....

18,529

18,123

a

8823819.SQ.FTS.B

,

4

.72

%

,

9/11/26

.....

8,460

8,119

a

8821561.SQ.FTS.B

,

4

.724

%

,

9/11/26

....

3,433

3,273

a

8823702.SQ.FTS.B

,

4

.726

%

,

9/11/26

....

2,453

2,392

a

8823792.SQ.FTS.B

,

5

.028

%

,

9/11/26

....

3,110

2,956

a

8823049.SQ.FTS.B

,

5

.031

%

,

9/11/26

....

8,160

7,865

a

8823219.SQ.FTS.B

,

5

.031

%

,

9/11/26

....

30,544

29,280

a

8824149.SQ.FTS.B

,

5

.031

%

,

9/11/26

....

68,790

65,906

a

8822677.SQ.FTS.B

,

5

.038

%

,

9/11/26

....

1,506

1,457

a

8823718.SQ.FTS.B

,

5

.601

%

,

9/11/26

....

6,385

6,005

a

8823788.SQ.FTS.B

,

5

.628

%

,

9/11/26

....

218

210

a

8821501.SQ.FTS.B

,

6

.107

%

,

9/11/26

....

2,392

2,300

a

8825230.SQ.FTS.B

,

6

.289

%

,

9/11/26

....

9,296

4,666

a

8825373.SQ.FTS.B

,

6

.445

%

,

9/11/26

....

6,686

6,334

a

8822536.SQ.FTS.B

,

6

.452

%

,

9/11/26

....

2,597

2,492

a

8822510.SQ.FTS.B

,

6

.471

%

,

9/11/26

....

578

545

a

8828157.SQ.FTS.B

,

4

.713

%

,

9/12/26

....

2,398

2,340

a

8826217.SQ.FTS.B

,

4

.717

%

,

9/12/26

....

13,763

13,440

a

8827039.SQ.FTS.B

,

4

.717

%

,

9/12/26

....

1,461

1,419

a

8829149.SQ.FTS.B

,

4

.717

%

,

9/12/26

....

7,795

7,401

a

8829260.SQ.FTS.B

,

4

.717

%

,

9/12/26

....

8,243

7,889

a

8829469.SQ.FTS.B

,

4

.717

%

,

9/12/26

....

3,995

3,846

a

8829516.SQ.FTS.B

,

4

.717

%

,

9/12/26

....

50,094

47,928

a

8826869.SQ.FTS.B

,

4

.719

%

,

9/12/26

....

7,103

6,890

a

8827387.SQ.FTS.B

,

4

.719

%

,

9/12/26

....

5,894

5,742

a

8830104.SQ.FTS.B

,

4

.719

%

,

9/12/26

....

9,040

8,795

a

8825845.SQ.FTS.B

,

4

.72

%

,

9/12/26

.....

8,961

8,672

a

8827103.SQ.FTS.B

,

4

.936

%

,

9/12/26

....

1,804

1,623

a

8828014.SQ.FTS.B

,

5

.031

%

,

9/12/26

....

5,997

4,923

a

8828222.SQ.FTS.B

,

5

.031

%

,

9/12/26

....

26,867

25,644

a

8830058.SQ.FTS.B

,

5

.031

%

,

9/12/26

....

3,388

3,287

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

69

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8830168.SQ.FTS.B

,

5

.346

%

,

9/12/26

....

$

35,815

$

34,855

a

8825701.SQ.FTS.B

,

5

.35

%

,

9/12/26

.....

6,092

4,082

a

8828135.SQ.FTS.B

,

5

.358

%

,

9/12/26

....

2,340

2,088

a

8827053.SQ.FTS.B

,

5

.606

%

,

9/12/26

....

1,868

1,817

a

8826143.SQ.FTS.B

,

5

.912

%

,

9/12/26

....

4,201

3,725

a

8827138.SQ.FTS.B

,

5

.914

%

,

9/12/26

....

8,740

8,107

a

8826116.SQ.FTS.B

,

6

.266

%

,

9/12/26

....

765

681

a

8827881.SQ.FTS.B

,

6

.444

%

,

9/12/26

....

3,808

3,645

a

8826133.SQ.FTS.B

,

6

.478

%

,

9/12/26

....

477

462

a

8838852.SQ.FTS.B

,

4

.715

%

,

9/13/26

....

5,643

5,464

a

8834664.SQ.FTS.B

,

4

.717

%

,

9/13/26

....

9,397

9,051

a

8836681.SQ.FTS.B

,

4

.717

%

,

9/13/26

....

11,529

10,998

a

8837399.SQ.FTS.B

,

4

.717

%

,

9/13/26

....

23,298

22,633

a

8835942.SQ.FTS.B

,

4

.718

%

,

9/13/26

....

24,384

21,748

a

8838966.SQ.FTS.B

,

4

.718

%

,

9/13/26

....

11,018

9,127

a

8836387.SQ.FTS.B

,

4

.719

%

,

9/13/26

....

7,912

7,519

a

8835008.SQ.FTS.B

,

4

.721

%

,

9/13/26

....

6,248

6,046

a

8838693.SQ.FTS.B

,

4

.722

%

,

9/13/26

....

5,328

5,074

a

8834555.SQ.FTS.B

,

5

.027

%

,

9/13/26

....

4,530

4,388

a

8835284.SQ.FTS.B

,

5

.031

%

,

9/13/26

....

7,546

7,061

a

8835526.SQ.FTS.B

,

5

.031

%

,

9/13/26

....

23,192

22,168

a

8837203.SQ.FTS.B

,

5

.031

%

,

9/13/26

....

9,503

9,113

a

8837752.SQ.FTS.B

,

5

.031

%

,

9/13/26

....

55,523

53,180

a

8835457.SQ.FTS.B

,

5

.041

%

,

9/13/26

....

1,947

1,842

a

8838754.SQ.FTS.B

,

5

.346

%

,

9/13/26

....

6,947

5,687

a

8835495.SQ.FTS.B

,

5

.9

%

,

9/13/26

......

1,300

1,262

a

8836851.SQ.FTS.B

,

5

.912

%

,

9/13/26

....

25,533

24,468

a

8835223.SQ.FTS.B

,

6

.101

%

,

9/13/26

....

1,714

1,699

a

8834987.SQ.FTS.B

,

6

.428

%

,

9/13/26

....

755

727

a

8836487.SQ.FTS.B

,

6

.443

%

,

9/13/26

....

940

904

a

8839021.SQ.FTS.B

,

6

.447

%

,

9/13/26

....

70,036

61,276

a

8838919.SQ.FTS.B

,

6

.448

%

,

9/13/26

....

6,082

5,134

a

8841514.SQ.FTS.B

,

4

.715

%

,

9/14/26

....

5,778

5,577

a

8842061.SQ.FTS.B

,

4

.715

%

,

9/14/26

....

9,040

8,458

a

8843092.SQ.FTS.B

,

4

.716

%

,

9/14/26

....

3,928

3,689

a

8840531.SQ.FTS.B

,

4

.717

%

,

9/14/26

....

22,892

22,393

a

8841131.SQ.FTS.B

,

4

.717

%

,

9/14/26

....

9,454

9,068

a

8840219.SQ.FTS.B

,

4

.718

%

,

9/14/26

....

3,605

3,459

a

8842653.SQ.FTS.B

,

4

.718

%

,

9/14/26

....

2,493

2,385

a

8839520.SQ.FTS.B

,

4

.719

%

,

9/14/26

....

13,556

13,107

a

8839870.SQ.FTS.B

,

4

.719

%

,

9/14/26

....

5,570

5,338

a

8840305.SQ.FTS.B

,

4

.719

%

,

9/14/26

....

10,268

9,982

a

8842351.SQ.FTS.B

,

4

.72

%

,

9/14/26

.....

4,629

4,421

a

8842044.SQ.FTS.B

,

4

.721

%

,

9/14/26

....

3,230

3,129

a

8839470.SQ.FTS.B

,

4

.725

%

,

9/14/26

....

1,408

1,381

a

8843444.SQ.FTS.B

,

4

.729

%

,

9/14/26

....

2,078

2,012

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8842727.SQ.FTS.B

,

4

.936

%

,

9/14/26

....

$

3,568

$

2,902

a

8842810.SQ.FTS.B

,

5

.027

%

,

9/14/26

....

2,039

1,989

a

8841572.SQ.FTS.B

,

5

.031

%

,

9/14/26

....

3,489

3,451

a

8841952.SQ.FTS.B

,

5

.031

%

,

9/14/26

....

2,962

2,501

a

8841986.SQ.FTS.B

,

5

.031

%

,

9/14/26

....

7,320

6,607

a

8842193.SQ.FTS.B

,

5

.031

%

,

9/14/26

....

13,517

12,858

a

8842464.SQ.FTS.B

,

5

.031

%

,

9/14/26

....

13,147

12,784

a

8843848.SQ.FTS.B

,

5

.031

%

,

9/14/26

....

35,090

33,990

a

8842685.SQ.FTS.B

,

5

.034

%

,

9/14/26

....

3,586

3,266

a

8843613.SQ.FTS.B

,

5

.344

%

,

9/14/26

....

6,169

6,030

a

8839758.SQ.FTS.B

,

5

.349

%

,

9/14/26

....

7,413

6,989

a

8839694.SQ.FTS.B

,

5

.353

%

,

9/14/26

....

2,024

1,951

a

8842826.SQ.FTS.B

,

5

.597

%

,

9/14/26

....

10,651

10,191

a

8843152.SQ.FTS.B

,

5

.597

%

,

9/14/26

....

17,233

16,670

a

8841626.SQ.FTS.B

,

5

.598

%

,

9/14/26

....

12,285

11,073

a

8841561.SQ.FTS.B

,

5

.6

%

,

9/14/26

......

953

906

a

8842754.SQ.FTS.B

,

5

.915

%

,

9/14/26

....

2,903

2,490

a

8841736.SQ.FTS.B

,

6

.101

%

,

9/14/26

....

21,964

20,577

a

8839513.SQ.FTS.B

,

6

.289

%

,

9/14/26

....

448

436

a

8842789.SQ.FTS.B

,

6

.44

%

,

9/14/26

.....

1,928

1,762

a

8841496.SQ.FTS.B

,

6

.443

%

,

9/14/26

....

3,081

2,937

a

8843690.SQ.FTS.B

,

6

.448

%

,

9/14/26

....

4,269

3,500

a

8842156.SQ.FTS.B

,

6

.45

%

,

9/14/26

.....

283

277

a

8841615.SQ.FTS.B

,

6

.453

%

,

9/14/26

....

1,134

1,092

a

8844282.SQ.FTS.B

,

4

.717

%

,

9/15/26

....

3,355

3,151

a

8845073.SQ.FTS.B

,

4

.717

%

,

9/15/26

....

3,295

3,087

a

8845101.SQ.FTS.B

,

4

.717

%

,

9/15/26

....

2,044

1,955

a

8845215.SQ.FTS.B

,

4

.717

%

,

9/15/26

....

23,642

22,944

a

8844753.SQ.FTS.B

,

4

.718

%

,

9/15/26

....

17,726

17,082

a

8845115.SQ.FTS.B

,

4

.719

%

,

9/15/26

....

14,169

13,467

a

8844183.SQ.FTS.B

,

4

.72

%

,

9/15/26

.....

3,148

3,050

a

8844687.SQ.FTS.B

,

4

.72

%

,

9/15/26

.....

9,236

8,916

a

8845651.SQ.FTS.B

,

4

.72

%

,

9/15/26

.....

8,704

8,410

a

8845477.SQ.FTS.B

,

4

.73

%

,

9/15/26

.....

2,001

1,894

a

8844213.SQ.FTS.B

,

4

.936

%

,

9/15/26

....

5,042

4,944

a

8844297.SQ.FTS.B

,

5

.031

%

,

9/15/26

....

20,373

19,824

a

8844567.SQ.FTS.B

,

5

.031

%

,

9/15/26

....

6,273

6,157

a

8844633.SQ.FTS.B

,

5

.031

%

,

9/15/26

....

7,054

6,824

a

8845741.SQ.FTS.B

,

5

.031

%

,

9/15/26

....

5,824

5,281

a

8844521.SQ.FTS.B

,

5

.344

%

,

9/15/26

....

6,612

6,004

a

8844957.SQ.FTS.B

,

5

.346

%

,

9/15/26

....

12,002

11,695

a

8846049.SQ.FTS.B

,

5

.348

%

,

9/15/26

....

2,625

2,510

a

8845420.SQ.FTS.B

,

5

.351

%

,

9/15/26

....

5,084

4,871

a

8845925.SQ.FTS.B

,

5

.355

%

,

9/15/26

....

2,531

2,378

a

8844509.SQ.FTS.B

,

5

.583

%

,

9/15/26

....

1,067

1,035

a

8846071.SQ.FTS.B

,

5

.596

%

,

9/15/26

....

17,257

16,860

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

70

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8845948.SQ.FTS.B

,

5

.599

%

,

9/15/26

....

$

11,922

$

11,248

a

8845493.SQ.FTS.B

,

5

.602

%

,

9/15/26

....

4,332

4,173

a

8845522.SQ.FTS.B

,

5

.912

%

,

9/15/26

....

1,840

1,745

a

8845538.SQ.FTS.B

,

5

.914

%

,

9/15/26

....

1,507

1,483

a

8844915.SQ.FTS.B

,

5

.915

%

,

9/15/26

....

4,114

3,925

a

8846040.SQ.FTS.B

,

6

.099

%

,

9/15/26

....

1,717

1,640

a

8845575.SQ.FTS.B

,

6

.104

%

,

9/15/26

....

5,965

5,812

a

8845716.SQ.FTS.B

,

6

.284

%

,

9/15/26

....

1,399

1,346

a

8844207.SQ.FTS.B

,

6

.313

%

,

9/15/26

....

774

598

a

8845777.SQ.FTS.B

,

6

.447

%

,

9/15/26

....

8,815

8,601

a

8846841.SQ.FTS.B

,

4

.711

%

,

9/16/26

....

2,913

2,805

a

8846712.SQ.FTS.B

,

4

.715

%

,

9/16/26

....

1,340

1,298

a

8846349.SQ.FTS.B

,

4

.717

%

,

9/16/26

....

4,161

3,931

a

8846728.SQ.FTS.B

,

4

.717

%

,

9/16/26

....

5,973

5,682

a

8847026.SQ.FTS.B

,

4

.717

%

,

9/16/26

....

16,944

16,385

a

8846422.SQ.FTS.B

,

4

.718

%

,

9/16/26

....

19,993

19,335

a

8846318.SQ.FTS.B

,

4

.719

%

,

9/16/26

....

2,910

2,496

a

8846377.SQ.FTS.B

,

4

.719

%

,

9/16/26

....

5,748

5,475

a

8846605.SQ.FTS.B

,

4

.719

%

,

9/16/26

....

8,132

7,859

a

8846802.SQ.FTS.B

,

4

.952

%

,

9/16/26

....

1,227

774

a

8846247.SQ.FTS.B

,

5

.031

%

,

9/16/26

....

2,895

2,854

a

8846858.SQ.FTS.B

,

5

.598

%

,

9/16/26

....

15,203

14,825

a

8846661.SQ.FTS.B

,

5

.6

%

,

9/16/26

......

2,363

2,169

a

8846280.SQ.FTS.B

,

6

.289

%

,

9/16/26

....

2,550

2,487

a

8847166.SQ.FTS.B

,

6

.289

%

,

9/16/26

....

2,813

2,549

a

8846814.SQ.FTS.B

,

6

.443

%

,

9/16/26

....

2,199

2,166

a

8846692.SQ.FTS.B

,

6

.451

%

,

9/16/26

....

977

951

a

8846785.SQ.FTS.B

,

6

.463

%

,

9/16/26

....

1,862

971

a

8849440.SQ.FTS.B

,

4

.717

%

,

9/17/26

....

6,020

5,689

a

8848239.SQ.FTS.B

,

5

.034

%

,

9/17/26

....

3,455

3,379

a

8848531.SQ.FTS.B

,

5

.598

%

,

9/17/26

....

24,106

23,233

a

8848141.SQ.FTS.B

,

5

.912

%

,

9/17/26

....

3,069

2,959

a

8849373.SQ.FTS.B

,

6

.102

%

,

9/17/26

....

8,915

8,181

a

8848422.SQ.FTS.B

,

6

.107

%

,

9/17/26

....

3,046

2,866

a

8849329.SQ.FTS.B

,

6

.444

%

,

9/17/26

....

3,112

357

a

8849163.SQ.FTS.B

,

6

.447

%

,

9/17/26

....

5,501

5,328

a

8849609.SQ.FTS.B

,

6

.452

%

,

9/17/26

....

867

806

a

8849358.SQ.FTS.B

,

6

.455

%

,

9/17/26

....

742

726

a

8855791.SQ.FTS.B

,

4

.706

%

,

9/18/26

....

1,992

1,824

a

8856076.SQ.FTS.B

,

4

.711

%

,

9/18/26

....

3,685

3,561

a

8856186.SQ.FTS.B

,

4

.711

%

,

9/18/26

....

2,256

2,165

a

8854650.SQ.FTS.B

,

4

.714

%

,

9/18/26

....

4,050

3,932

a

8854705.SQ.FTS.B

,

4

.717

%

,

9/18/26

....

30,548

29,504

a

8852825.SQ.FTS.B

,

4

.719

%

,

9/18/26

....

15,548

14,831

a

8856054.SQ.FTS.B

,

4

.932

%

,

9/18/26

....

2,066

178

a

8853160.SQ.FTS.B

,

5

.031

%

,

9/18/26

....

40,085

37,745

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8855848.SQ.FTS.B

,

5

.031

%

,

9/18/26

....

$

16,385

$

14,892

a

8857471.SQ.FTS.B

,

5

.031

%

,

9/18/26

....

26,937

25,625

a

8854037.SQ.FTS.B

,

5

.346

%

,

9/18/26

....

45,873

38,144

a

8856216.SQ.FTS.B

,

5

.346

%

,

9/18/26

....

56,510

54,705

a

8853822.SQ.FTS.B

,

5

.598

%

,

9/18/26

....

12,779

10,696

a

8856785.SQ.FTS.B

,

5

.598

%

,

9/18/26

....

46,001

44,018

a

8853591.SQ.FTS.B

,

5

.6

%

,

9/18/26

......

8,940

8,586

a

8856136.SQ.FTS.B

,

6

.097

%

,

9/18/26

....

3,110

3,017

a

8855695.SQ.FTS.B

,

6

.442

%

,

9/18/26

....

2,843

2,754

a

8858075.SQ.FTS.B

,

4

.717

%

,

9/19/26

....

5,425

5,256

a

8859217.SQ.FTS.B

,

4

.717

%

,

9/19/26

....

8,587

8,271

a

8860868.SQ.FTS.B

,

4

.721

%

,

9/19/26

....

6,896

6,666

a

8860532.SQ.FTS.B

,

4

.724

%

,

9/19/26

....

3,417

3,280

a

8858039.SQ.FTS.B

,

4

.726

%

,

9/19/26

....

2,938

2,813

a

8857808.SQ.FTS.B

,

5

.031

%

,

9/19/26

....

5,963

5,764

a

8860956.SQ.FTS.B

,

5

.031

%

,

9/19/26

....

67,038

64,751

a

8859348.SQ.FTS.B

,

5

.346

%

,

9/19/26

....

27,362

27,090

a

8858162.SQ.FTS.B

,

5

.598

%

,

9/19/26

....

19,598

19,123

a

8859290.SQ.FTS.B

,

5

.628

%

,

9/19/26

....

1,648

1,592

a

8858595.SQ.FTS.B

,

5

.629

%

,

9/19/26

....

23,798

23,032

a

8857969.SQ.FTS.B

,

5

.642

%

,

9/19/26

....

1,213

1,109

a

8861737.SQ.FTS.B

,

5

.911

%

,

9/19/26

....

32,342

31,544

a

8862134.SQ.FTS.B

,

5

.912

%

,

9/19/26

....

12,050

11,758

a

8859182.SQ.FTS.B

,

5

.913

%

,

9/19/26

....

3,636

3,497

a

8860949.SQ.FTS.B

,

6

.429

%

,

9/19/26

....

1,069

994

a

8857996.SQ.FTS.B

,

6

.443

%

,

9/19/26

....

1,681

1,566

a

8860687.SQ.FTS.B

,

6

.443

%

,

9/19/26

....

5,450

5,105

a

8860800.SQ.FTS.B

,

6

.445

%

,

9/19/26

....

5,379

4,949

a

8860755.SQ.FTS.B

,

6

.447

%

,

9/19/26

....

4,562

4,084

a

8867076.SQ.FTS.B

,

4

.71

%

,

9/20/26

.....

2,871

2,779

a

8865940.SQ.FTS.B

,

4

.716

%

,

9/20/26

....

3,431

3,312

a

8866134.SQ.FTS.B

,

4

.717

%

,

9/20/26

....

17,697

17,352

a

8866627.SQ.FTS.B

,

4

.717

%

,

9/20/26

....

13,243

11,422

a

8867899.SQ.FTS.B

,

4

.717

%

,

9/20/26

....

4,849

4,656

a

8869285.SQ.FTS.B

,

4

.717

%

,

9/20/26

....

58,125

56,730

a

8866821.SQ.FTS.B

,

4

.719

%

,

9/20/26

....

6,598

6,414

a

8867299.SQ.FTS.B

,

4

.719

%

,

9/20/26

....

6,465

5,249

a

8867946.SQ.FTS.B

,

4

.72

%

,

9/20/26

.....

7,760

7,484

a

8867865.SQ.FTS.B

,

4

.723

%

,

9/20/26

....

4,050

3,872

a

8866074.SQ.FTS.B

,

5

.031

%

,

9/20/26

....

3,756

3,653

a

8866443.SQ.FTS.B

,

5

.031

%

,

9/20/26

....

16,399

15,864

a

8869585.SQ.FTS.B

,

5

.031

%

,

9/20/26

....

3,922

3,749

a

8866747.SQ.FTS.B

,

5

.343

%

,

9/20/26

....

4,721

4,304

a

8867120.SQ.FTS.B

,

5

.346

%

,

9/20/26

....

6,601

5,475

a

8868012.SQ.FTS.B

,

5

.346

%

,

9/20/26

....

1,701

1,592

a

8867376.SQ.FTS.B

,

5

.631

%

,

9/20/26

....

3,500

3,406

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

71

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8865003.SQ.FTS.B

,

5

.912

%

,

9/20/26

....

$

44,882

$

42,313

a

8869607.SQ.FTS.B

,

5

.912

%

,

9/20/26

....

40,706

39,902

a

8869198.SQ.FTS.B

,

5

.913

%

,

9/20/26

....

15,277

14,789

a

8868039.SQ.FTS.B

,

6

.102

%

,

9/20/26

....

17,010

16,512

a

8867486.SQ.FTS.B

,

6

.289

%

,

9/20/26

....

38,939

32,353

a

8867035.SQ.FTS.B

,

6

.307

%

,

9/20/26

....

746

719

a

8869600.SQ.FTS.B

,

6

.427

%

,

9/20/26

....

989

874

a

8865971.SQ.FTS.B

,

6

.442

%

,

9/20/26

....

1,182

1,141

a

8866929.SQ.FTS.B

,

6

.443

%

,

9/20/26

....

4,666

4,541

a

8867464.SQ.FTS.B

,

6

.443

%

,

9/20/26

....

1,452

1,412

a

8872011.SQ.FTS.B

,

4

.715

%

,

9/21/26

....

6,265

6,055

a

8872611.SQ.FTS.B

,

4

.715

%

,

9/21/26

....

6,377

6,139

a

8869835.SQ.FTS.B

,

4

.717

%

,

9/21/26

....

22,884

21,703

a

8870968.SQ.FTS.B

,

4

.717

%

,

9/21/26

....

4,059

3,913

a

8872659.SQ.FTS.B

,

4

.717

%

,

9/21/26

....

14,133

13,689

a

8871439.SQ.FTS.B

,

4

.718

%

,

9/21/26

....

20,564

19,104

a

8871367.SQ.FTS.B

,

4

.719

%

,

9/21/26

....

6,174

5,982

a

8871729.SQ.FTS.B

,

4

.719

%

,

9/21/26

....

7,824

7,545

a

8872233.SQ.FTS.B

,

4

.938

%

,

9/21/26

....

23,612

19,156

a

8871049.SQ.FTS.B

,

4

.957

%

,

9/21/26

....

588

510

a

8872127.SQ.FTS.B

,

5

.031

%

,

9/21/26

....

2,612

2,523

a

8872976.SQ.FTS.B

,

5

.346

%

,

9/21/26

....

50,997

48,807

a

8870251.SQ.FTS.B

,

5

.354

%

,

9/21/26

....

1,958

1,894

a

8870382.SQ.FTS.B

,

5

.597

%

,

9/21/26

....

6,643

6,406

a

8872171.SQ.FTS.B

,

5

.638

%

,

9/21/26

....

919

839

a

8870327.SQ.FTS.B

,

5

.912

%

,

9/21/26

....

2,407

2,259

a

8871085.SQ.FTS.B

,

5

.914

%

,

9/21/26

....

6,240

6,156

a

8871686.SQ.FTS.B

,

5

.918

%

,

9/21/26

....

2,827

2,614

a

8872179.SQ.FTS.B

,

5

.918

%

,

9/21/26

....

1,970

1,904

a

8871299.SQ.FTS.B

,

6

.101

%

,

9/21/26

....

5,153

4,988

a

8872818.SQ.FTS.B

,

6

.101

%

,

9/21/26

....

12,714

12,358

a

8870483.SQ.FTS.B

,

6

.289

%

,

9/21/26

....

13,596

13,166

a

8872195.SQ.FTS.B

,

6

.293

%

,

9/21/26

....

1,919

1,780

a

8871819.SQ.FTS.B

,

6

.447

%

,

9/21/26

....

11,694

11,411

a

8873559.SQ.FTS.B

,

6

.449

%

,

9/21/26

....

11,657

10,713

a

8875186.SQ.FTS.B

,

4

.717

%

,

9/22/26

....

1,464

1,338

a

8875975.SQ.FTS.B

,

4

.718

%

,

9/22/26

....

2,258

2,149

a

8875423.SQ.FTS.B

,

4

.719

%

,

9/22/26

....

12,933

12,470

a

8875784.SQ.FTS.B

,

4

.719

%

,

9/22/26

....

13,968

13,406

a

8875214.SQ.FTS.B

,

4

.721

%

,

9/22/26

....

6,329

6,068

a

8875531.SQ.FTS.B

,

4

.722

%

,

9/22/26

....

5,232

5,051

a

8875607.SQ.FTS.B

,

4

.726

%

,

9/22/26

....

3,038

2,890

a

8875759.SQ.FTS.B

,

4

.954

%

,

9/22/26

....

1,296

845

a

8875278.SQ.FTS.B

,

5

.031

%

,

9/22/26

....

1,395

1,328

a

8875292.SQ.FTS.B

,

5

.031

%

,

9/22/26

....

20,453

19,211

a

8876001.SQ.FTS.B

,

5

.031

%

,

9/22/26

....

8,332

8,051

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8875674.SQ.FTS.B

,

5

.036

%

,

9/22/26

....

$

4,850

$

4,584

a

8875910.SQ.FTS.B

,

5

.036

%

,

9/22/26

....

5,312

4,846

a

8875203.SQ.FTS.B

,

5

.337

%

,

9/22/26

....

1,211

1,168

a

8875664.SQ.FTS.B

,

5

.342

%

,

9/22/26

....

1,368

1,320

a

8875938.SQ.FTS.B

,

5

.344

%

,

9/22/26

....

3,292

3,084

a

8875177.SQ.FTS.B

,

5

.595

%

,

9/22/26

....

1,511

1,402

a

8875891.SQ.FTS.B

,

5

.595

%

,

9/22/26

....

2,196

1,973

a

8875261.SQ.FTS.B

,

5

.616

%

,

9/22/26

....

2,425

114

a

8876073.SQ.FTS.B

,

5

.913

%

,

9/22/26

....

13,918

11,819

a

8875745.SQ.FTS.B

,

5

.922

%

,

9/22/26

....

780

770

a

8875194.SQ.FTS.B

,

6

.089

%

,

9/22/26

....

565

553

a

8875559.SQ.FTS.B

,

6

.105

%

,

9/22/26

....

4,670

4,306

a

8875775.SQ.FTS.B

,

6

.282

%

,

9/22/26

....

1,577

825

a

8875716.SQ.FTS.B

,

6

.442

%

,

9/22/26

....

2,765

2,657

a

8876716.SQ.FTS.B

,

4

.714

%

,

9/23/26

....

3,082

2,966

a

8876740.SQ.FTS.B

,

4

.717

%

,

9/23/26

....

12,745

12,353

a

8876839.SQ.FTS.B

,

4

.717

%

,

9/23/26

....

10,911

10,484

a

8876425.SQ.FTS.B

,

4

.718

%

,

9/23/26

....

30,890

29,778

a

8876388.SQ.FTS.B

,

4

.719

%

,

9/23/26

....

5,189

5,061

a

8876656.SQ.FTS.B

,

5

.031

%

,

9/23/26

....

6,920

6,684

a

8876328.SQ.FTS.B

,

5

.598

%

,

9/23/26

....

4,604

4,151

a

8876195.SQ.FTS.B

,

5

.912

%

,

9/23/26

....

13,037

12,662

a

8876363.SQ.FTS.B

,

6

.104

%

,

9/23/26

....

3,661

3,516

a

8876926.SQ.FTS.B

,

6

.446

%

,

9/23/26

....

14,100

13,586

a

8876181.SQ.FTS.B

,

6

.447

%

,

9/23/26

....

1,174

1,125

a

8876920.SQ.FTS.B

,

6

.447

%

,

9/23/26

....

1,318

761

a

8877336.SQ.FTS.B

,

4

.717

%

,

9/24/26

....

11,102

10,746

a

8878180.SQ.FTS.B

,

4

.717

%

,

9/24/26

....

1,732

1,654

a

8877253.SQ.FTS.B

,

5

.031

%

,

9/24/26

....

6,921

6,697

a

8878197.SQ.FTS.B

,

5

.031

%

,

9/24/26

....

49,966

47,654

a

8878943.SQ.FTS.B

,

5

.031

%

,

9/24/26

....

1,298

1,259

a

8877914.SQ.FTS.B

,

5

.344

%

,

9/24/26

....

6,575

6,307

a

8877686.SQ.FTS.B

,

6

.101

%

,

9/24/26

....

3,036

2,920

a

8878143.SQ.FTS.B

,

6

.11

%

,

9/24/26

.....

1,786

1,699

a

8882921.SQ.FTS.B

,

4

.716

%

,

9/25/26

....

3,202

3,101

a

8881459.SQ.FTS.B

,

4

.717

%

,

9/25/26

....

15,310

14,809

a

8881574.SQ.FTS.B

,

4

.717

%

,

9/25/26

....

12,182

11,882

a

8882014.SQ.FTS.B

,

4

.717

%

,

9/25/26

....

3,150

2,328

a

8882122.SQ.FTS.B

,

4

.717

%

,

9/25/26

....

21,178

20,537

a

8883088.SQ.FTS.B

,

4

.717

%

,

9/25/26

....

3,372

3,239

a

8883246.SQ.FTS.B

,

4

.717

%

,

9/25/26

....

3,419

3,272

a

8884506.SQ.FTS.B

,

4

.717

%

,

9/25/26

....

40,964

39,235

a

8883131.SQ.FTS.B

,

4

.936

%

,

9/25/26

....

4,841

4,526

a

8884011.SQ.FTS.B

,

5

.031

%

,

9/25/26

....

31,635

30,734

a

8884936.SQ.FTS.B

,

5

.031

%

,

9/25/26

....

9,257

7,643

a

8882044.SQ.FTS.B

,

5

.344

%

,

9/25/26

....

6,095

5,657

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

72

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8881689.SQ.FTS.B

,

5

.347

%

,

9/25/26

....

$

12,548

$

12,340

a

8881061.SQ.FTS.B

,

5

.597

%

,

9/25/26

....

50,664

48,064

a

8882668.SQ.FTS.B

,

5

.598

%

,

9/25/26

....

15,856

15,102

a

8881679.SQ.FTS.B

,

5

.893

%

,

9/25/26

....

1,010

984

a

8884416.SQ.FTS.B

,

5

.912

%

,

9/25/26

....

7,352

7,043

a

8882997.SQ.FTS.B

,

5

.913

%

,

9/25/26

....

4,145

4,061

a

8881872.SQ.FTS.B

,

5

.914

%

,

9/25/26

....

5,930

5,616

a

8883687.SQ.FTS.B

,

6

.098

%

,

9/25/26

....

6,958

6,290

a

8885096.SQ.FTS.B

,

6

.1

%

,

9/25/26

......

3,134

2,763

a

8883777.SQ.FTS.B

,

6

.101

%

,

9/25/26

....

9,771

9,529

a

8883302.SQ.FTS.B

,

6

.265

%

,

9/25/26

....

709

671

a

8887497.SQ.FTS.B

,

4

.716

%

,

9/26/26

....

4,732

4,469

a

8886302.SQ.FTS.B

,

4

.717

%

,

9/26/26

....

9,269

8,844

a

8886481.SQ.FTS.B

,

4

.717

%

,

9/26/26

....

3,165

3,054

a

8887178.SQ.FTS.B

,

4

.717

%

,

9/26/26

....

16,075

15,490

a

8887594.SQ.FTS.B

,

4

.717

%

,

9/26/26

....

19,098

18,217

a

8888350.SQ.FTS.B

,

4

.717

%

,

9/26/26

....

11,266

10,880

a

8888521.SQ.FTS.B

,

4

.717

%

,

9/26/26

....

3,883

3,796

a

8889880.SQ.FTS.B

,

4

.717

%

,

9/26/26

....

61,996

59,831

a

8887846.SQ.FTS.B

,

4

.718

%

,

9/26/26

....

14,245

13,967

a

8888177.SQ.FTS.B

,

4

.719

%

,

9/26/26

....

6,611

6,361

a

8890741.SQ.FTS.B

,

4

.719

%

,

9/26/26

....

12,801

12,224

a

8886444.SQ.FTS.B

,

4

.727

%

,

9/26/26

....

1,800

1,766

a

8886673.SQ.FTS.B

,

4

.935

%

,

9/26/26

....

6,741

5,814

a

8888564.SQ.FTS.B

,

5

.031

%

,

9/26/26

....

24,126

23,316

a

8889370.SQ.FTS.B

,

5

.031

%

,

9/26/26

....

5,920

5,370

a

8889516.SQ.FTS.B

,

5

.031

%

,

9/26/26

....

33,039

31,123

a

8890666.SQ.FTS.B

,

5

.037

%

,

9/26/26

....

4,000

3,828

a

8890646.SQ.FTS.B

,

5

.34

%

,

9/26/26

.....

1,907

1,786

a

8886874.SQ.FTS.B

,

5

.348

%

,

9/26/26

....

5,367

5,190

a

8887086.SQ.FTS.B

,

5

.353

%

,

9/26/26

....

2,827

2,581

a

8888129.SQ.FTS.B

,

5

.593

%

,

9/26/26

....

4,677

4,541

a

8886536.SQ.FTS.B

,

5

.627

%

,

9/26/26

....

5,302

5,124

a

8890694.SQ.FTS.B

,

5

.909

%

,

9/26/26

....

9,893

1,416

a

8890937.SQ.FTS.B

,

5

.912

%

,

9/26/26

....

13,721

12,763

a

8890868.SQ.FTS.B

,

5

.915

%

,

9/26/26

....

3,671

3,606

a

8886793.SQ.FTS.B

,

6

.101

%

,

9/26/26

....

5,822

4,023

a

8890568.SQ.FTS.B

,

6

.445

%

,

9/26/26

....

9,068

8,841

a

8889464.SQ.FTS.B

,

6

.447

%

,

9/26/26

....

1,599

1,526

a

8888258.SQ.FTS.B

,

6

.449

%

,

9/26/26

....

5,088

4,754

a

8889437.SQ.FTS.B

,

6

.454

%

,

9/26/26

....

2,310

903

a

8886752.SQ.FTS.B

,

6

.458

%

,

9/26/26

....

804

782

a

8894151.SQ.FTS.B

,

4

.714

%

,

9/27/26

....

3,837

3,732

a

8894260.SQ.FTS.B

,

4

.715

%

,

9/27/26

....

5,229

5,047

a

8893921.SQ.FTS.B

,

4

.717

%

,

9/27/26

....

5,643

5,445

a

8896816.SQ.FTS.B

,

4

.717

%

,

9/27/26

....

5,012

4,827

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8896906.SQ.FTS.B

,

4

.717

%

,

9/27/26

....

$

3,447

$

3,300

a

8893844.SQ.FTS.B

,

4

.718

%

,

9/27/26

....

4,082

3,946

a

8896287.SQ.FTS.B

,

4

.718

%

,

9/27/26

....

29,973

28,508

a

8896954.SQ.FTS.B

,

4

.718

%

,

9/27/26

....

43,896

42,543

a

8897312.SQ.FTS.B

,

4

.718

%

,

9/27/26

....

39,029

37,700

a

8895500.SQ.FTS.B

,

4

.719

%

,

9/27/26

....

3,346

3,219

a

8896209.SQ.FTS.B

,

4

.719

%

,

9/27/26

....

4,156

3,940

a

8897971.SQ.FTS.B

,

4

.719

%

,

9/27/26

....

17,655

15,968

a

8895423.SQ.FTS.B

,

4

.722

%

,

9/27/26

....

6,210

5,899

a

8897818.SQ.FTS.B

,

4

.722

%

,

9/27/26

....

3,310

3,123

a

8894117.SQ.FTS.B

,

4

.73

%

,

9/27/26

.....

2,115

2,034

a

8893779.SQ.FTS.B

,

5

.031

%

,

9/27/26

....

4,150

4,018

a

8895776.SQ.FTS.B

,

5

.031

%

,

9/27/26

....

32,844

31,780

a

8896682.SQ.FTS.B

,

5

.031

%

,

9/27/26

....

13,221

12,911

a

8897857.SQ.FTS.B

,

5

.031

%

,

9/27/26

....

6,719

6,040

a

8897911.SQ.FTS.B

,

5

.339

%

,

9/27/26

....

1,997

1,899

a

8897734.SQ.FTS.B

,

5

.344

%

,

9/27/26

....

5,923

5,804

a

8897924.SQ.FTS.B

,

5

.351

%

,

9/27/26

....

6,610

1,706

a

8894937.SQ.FTS.B

,

5

.585

%

,

9/27/26

....

1,639

1,564

a

8897962.SQ.FTS.B

,

5

.586

%

,

9/27/26

....

1,726

1,218

a

8895551.SQ.FTS.B

,

5

.599

%

,

9/27/26

....

22,791

21,929

a

8897787.SQ.FTS.B

,

5

.602

%

,

9/27/26

....

2,073

1,995

a

8896656.SQ.FTS.B

,

5

.642

%

,

9/27/26

....

1,520

1,082

a

8895384.SQ.FTS.B

,

5

.904

%

,

9/27/26

....

2,669

2,583

a

8894354.SQ.FTS.B

,

5

.918

%

,

9/27/26

....

1,484

1,449

a

8894838.SQ.FTS.B

,

5

.918

%

,

9/27/26

....

3,526

3,343

a

8894461.SQ.FTS.B

,

6

.101

%

,

9/27/26

....

15,008

14,587

a

8895347.SQ.FTS.B

,

6

.286

%

,

9/27/26

....

2,705

2,444

a

8896200.SQ.FTS.B

,

6

.3

%

,

9/27/26

......

754

685

a

8894985.SQ.FTS.B

,

6

.427

%

,

9/27/26

....

956

864

a

8895009.SQ.FTS.B

,

6

.446

%

,

9/27/26

....

1,154

1,150

a

8898960.SQ.FTS.B

,

4

.717

%

,

9/28/26

....

17,384

16,769

a

8899950.SQ.FTS.B

,

4

.717

%

,

9/28/26

....

63,505

60,986

a

8902101.SQ.FTS.B

,

4

.718

%

,

9/28/26

....

3,481

3,388

a

8902012.SQ.FTS.B

,

4

.719

%

,

9/28/26

....

7,225

6,968

a

8899301.SQ.FTS.B

,

4

.723

%

,

9/28/26

....

3,752

3,653

a

8902380.SQ.FTS.B

,

4

.725

%

,

9/28/26

....

2,263

2,163

a

8898433.SQ.FTS.B

,

4

.924

%

,

9/28/26

....

1,143

1,004

a

8899360.SQ.FTS.B

,

4

.946

%

,

9/28/26

....

2,048

1,876

a

8899527.SQ.FTS.B

,

5

.031

%

,

9/28/26

....

7,740

7,572

a

8901099.SQ.FTS.B

,

5

.031

%

,

9/28/26

....

28,821

27,577

a

8901939.SQ.FTS.B

,

5

.031

%

,

9/28/26

....

4,212

3,997

a

8902459.SQ.FTS.B

,

5

.031

%

,

9/28/26

....

70,526

66,503

a

8901066.SQ.FTS.B

,

5

.345

%

,

9/28/26

....

5,578

5,059

a

8899859.SQ.FTS.B

,

5

.351

%

,

9/28/26

....

4,349

4,161

a

8901564.SQ.FTS.B

,

5

.351

%

,

9/28/26

....

2,941

2,897

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

73

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8898504.SQ.FTS.B

,

5

.59

%

,

9/28/26

.....

$

2,948

$

2,772

a

8902427.SQ.FTS.B

,

5

.594

%

,

9/28/26

....

2,625

2,549

a

8900831.SQ.FTS.B

,

5

.598

%

,

9/28/26

....

16,641

16,118

a

8901655.SQ.FTS.B

,

5

.598

%

,

9/28/26

....

21,357

17,999

a

8902216.SQ.FTS.B

,

5

.629

%

,

9/28/26

....

4,536

4,406

a

8898593.SQ.FTS.B

,

5

.913

%

,

9/28/26

....

13,309

12,878

a

8899428.SQ.FTS.B

,

6

.085

%

,

9/28/26

....

809

792

a

8899751.SQ.FTS.B

,

6

.098

%

,

9/28/26

....

1,142

1,088

a

8898921.SQ.FTS.B

,

6

.28

%

,

9/28/26

.....

2,685

823

a

8901624.SQ.FTS.B

,

6

.28

%

,

9/28/26

.....

2,629

1,815

a

8902174.SQ.FTS.B

,

6

.444

%

,

9/28/26

....

3,105

3,043

a

8899465.SQ.FTS.B

,

6

.45

%

,

9/28/26

.....

1,455

1,372

a

8899803.SQ.FTS.B

,

6

.464

%

,

9/28/26

....

1,286

1,218

a

8903134.SQ.FTS.B

,

4

.705

%

,

9/29/26

....

2,034

1,944

a

8903177.SQ.FTS.B

,

4

.717

%

,

9/29/26

....

10,682

10,267

a

8903702.SQ.FTS.B

,

4

.721

%

,

9/29/26

....

4,808

4,634

a

8903983.SQ.FTS.B

,

4

.721

%

,

9/29/26

....

6,161

5,929

a

8904121.SQ.FTS.B

,

5

.031

%

,

9/29/26

....

4,877

4,663

a

8903672.SQ.FTS.B

,

5

.337

%

,

9/29/26

....

2,337

2,176

a

8903338.SQ.FTS.B

,

5

.586

%

,

9/29/26

....

2,102

2,004

a

8903362.SQ.FTS.B

,

6

.1

%

,

9/29/26

......

13,151

12,724

a

8903774.SQ.FTS.B

,

6

.103

%

,

9/29/26

....

8,973

8,700

a

8903915.SQ.FTS.B

,

6

.447

%

,

9/29/26

....

1,230

1,015

a

8903326.SQ.FTS.B

,

6

.461

%

,

9/29/26

....

459

444

a

8904098.SQ.FTS.B

,

6

.462

%

,

9/29/26

....

1,988

1,448

a

8904593.SQ.FTS.B

,

4

.715

%

,

9/30/26

....

3,202

3,060

a

8904248.SQ.FTS.B

,

4

.717

%

,

9/30/26

....

7,648

7,336

a

8905176.SQ.FTS.B

,

4

.717

%

,

9/30/26

....

12,651

12,143

a

8908868.SQ.FTS.B

,

4

.717

%

,

9/30/26

....

18,968

18,196

a

8904974.SQ.FTS.B

,

4

.719

%

,

9/30/26

....

11,029

10,570

a

8908681.SQ.FTS.B

,

4

.727

%

,

9/30/26

....

2,639

2,537

a

8904945.SQ.FTS.B

,

4

.73

%

,

9/30/26

.....

2,132

2,051

a

8904241.SQ.FTS.B

,

4

.94

%

,

9/30/26

.....

163

157

a

8904804.SQ.FTS.B

,

5

.031

%

,

9/30/26

....

11,078

10,405

a

8907192.SQ.FTS.B

,

5

.031

%

,

9/30/26

....

25,559

24,697

a

8909342.SQ.FTS.B

,

5

.036

%

,

9/30/26

....

2,774

2,662

a

8904770.SQ.FTS.B

,

5

.354

%

,

9/30/26

....

2,455

2,294

a

8907952.SQ.FTS.B

,

5

.606

%

,

9/30/26

....

2,306

1,744

a

8905890.SQ.FTS.B

,

5

.616

%

,

9/30/26

....

740

273

a

8904556.SQ.FTS.B

,

5

.926

%

,

9/30/26

....

1,830

1,709

a

8904640.SQ.FTS.B

,

6

.102

%

,

9/30/26

....

10,264

7,858

a

8908730.SQ.FTS.B

,

6

.102

%

,

9/30/26

....

1,965

1,903

a

8904224.SQ.FTS.B

,

6

.441

%

,

9/30/26

....

1,002

910

a

8907137.SQ.FTS.B

,

6

.447

%

,

9/30/26

....

2,376

2,178

a

8908017.SQ.FTS.B

,

6

.447

%

,

9/30/26

....

17,694

17,118

a

8904372.SQ.FTS.B

,

6

.449

%

,

9/30/26

....

13,940

10,128

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8908818.SQ.FTS.B

,

6

.45

%

,

9/30/26

.....

$

4,432

$

3,801

a

8910705.SQ.FTS.B

,

4

.713

%

,

10/01/26

...

3,063

2,950

a

8910175.SQ.FTS.B

,

4

.717

%

,

10/01/26

...

3,694

3,534

a

8910319.SQ.FTS.B

,

4

.717

%

,

10/01/26

...

11,303

10,837

a

8910498.SQ.FTS.B

,

4

.717

%

,

10/01/26

...

8,823

8,465

a

8911626.SQ.FTS.B

,

4

.717

%

,

10/01/26

...

21,166

20,381

a

8913820.SQ.FTS.B

,

4

.717

%

,

10/01/26

...

14,031

13,044

a

8914272.SQ.FTS.B

,

4

.717

%

,

10/01/26

...

31,668

30,518

a

8912286.SQ.FTS.B

,

4

.721

%

,

10/01/26

...

7,446

7,155

a

8913957.SQ.FTS.B

,

5

.031

%

,

10/01/26

...

22,346

20,994

a

8914751.SQ.FTS.B

,

5

.031

%

,

10/01/26

...

5,518

5,332

a

8911428.SQ.FTS.B

,

5

.346

%

,

10/01/26

...

12,507

12,087

a

8912973.SQ.FTS.B

,

5

.346

%

,

10/01/26

...

55,485

50,255

a

8914080.SQ.FTS.B

,

5

.346

%

,

10/01/26

...

15,037

14,556

a

8913645.SQ.FTS.B

,

5

.348

%

,

10/01/26

...

13,684

12,867

a

8911274.SQ.FTS.B

,

5

.352

%

,

10/01/26

...

5,010

4,674

a

8912364.SQ.FTS.B

,

5

.597

%

,

10/01/26

...

11,713

11,362

a

8912109.SQ.FTS.B

,

6

.083

%

,

10/01/26

...

1,620

1,340

a

8910246.SQ.FTS.B

,

6

.091

%

,

10/01/26

...

2,148

2,059

a

8912598.SQ.FTS.B

,

6

.101

%

,

10/01/26

...

20,965

20,440

a

8911214.SQ.FTS.B

,

6

.28

%

,

10/01/26

....

1,092

1,026

a

8912252.SQ.FTS.B

,

6

.28

%

,

10/01/26

....

1,241

1,214

a

8910299.SQ.FTS.B

,

6

.434

%

,

10/01/26

...

1,227

960

a

8911064.SQ.FTS.B

,

6

.445

%

,

10/01/26

...

3,717

3,555

a

8910771.SQ.FTS.B

,

6

.447

%

,

10/01/26

...

10,038

9,697

a

8911398.SQ.FTS.B

,

6

.447

%

,

10/01/26

...

1,435

1,362

a

8912126.SQ.FTS.B

,

6

.447

%

,

10/01/26

...

8,398

7,920

a

8914672.SQ.FTS.B

,

6

.447

%

,

10/01/26

...

9,322

8,692

a

8914654.SQ.FTS.B

,

6

.456

%

,

10/01/26

...

1,081

1,037

a

8917561.SQ.FTS.B

,

4

.717

%

,

10/02/26

...

5,757

5,532

a

8915304.SQ.FTS.B

,

4

.718

%

,

10/02/26

...

29,531

28,399

a

8917624.SQ.FTS.B

,

4

.724

%

,

10/02/26

...

3,861

3,711

a

8919027.SQ.FTS.B

,

4

.726

%

,

10/02/26

...

3,320

3,110

a

8917191.SQ.FTS.B

,

4

.953

%

,

10/02/26

...

453

424

a

8916202.SQ.FTS.B

,

5

.031

%

,

10/02/26

...

2,472

2,366

a

8917663.SQ.FTS.B

,

5

.031

%

,

10/02/26

...

19,027

18,202

a

8918745.SQ.FTS.B

,

5

.031

%

,

10/02/26

...

14,971

12,744

a

8919093.SQ.FTS.B

,

5

.031

%

,

10/02/26

...

2,349

2,203

a

8915086.SQ.FTS.B

,

5

.346

%

,

10/02/26

...

8,936

8,653

a

8916864.SQ.FTS.B

,

5

.346

%

,

10/02/26

...

17,870

16,795

a

8914912.SQ.FTS.B

,

5

.353

%

,

10/02/26

...

1,770

1,711

a

8916602.SQ.FTS.B

,

5

.356

%

,

10/02/26

...

1,401

1,310

a

8916643.SQ.FTS.B

,

5

.597

%

,

10/02/26

...

14,338

13,580

a

8917966.SQ.FTS.B

,

5

.597

%

,

10/02/26

...

26,927

20,816

a

8916470.SQ.FTS.B

,

5

.602

%

,

10/02/26

...

2,961

2,833

a

8916799.SQ.FTS.B

,

5

.66

%

,

10/02/26

....

700

562

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

74

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8917906.SQ.FTS.B

,

5

.66

%

,

10/02/26

....

$

110

$

106

a

8916534.SQ.FTS.B

,

6

.105

%

,

10/02/26

...

1,951

1,899

a

8917207.SQ.FTS.B

,

6

.289

%

,

10/02/26

...

14,357

13,841

a

8917908.SQ.FTS.B

,

6

.294

%

,

10/02/26

...

3,694

3,551

a

8914928.SQ.FTS.B

,

6

.296

%

,

10/02/26

...

2,957

2,509

a

8914901.SQ.FTS.B

,

6

.303

%

,

10/02/26

...

1,691

1,286

a

8915288.SQ.FTS.B

,

6

.427

%

,

10/02/26

...

1,010

851

a

8916613.SQ.FTS.B

,

6

.447

%

,

10/02/26

...

3,942

3,072

a

8916801.SQ.FTS.B

,

6

.447

%

,

10/02/26

...

6,937

6,669

a

8918112.SQ.FTS.B

,

6

.447

%

,

10/02/26

...

64,164

61,889

a

8918804.SQ.FTS.B

,

6

.448

%

,

10/02/26

...

19,745

18,950

a

8915271.SQ.FTS.B

,

6

.459

%

,

10/02/26

...

1,097

1,025

a

8924143.SQ.FTS.B

,

4

.712

%

,

10/03/26

...

2,310

2,219

a

8923656.SQ.FTS.B

,

4

.715

%

,

10/03/26

...

5,460

5,233

a

8921581.SQ.FTS.B

,

4

.717

%

,

10/03/26

...

6,914

6,648

a

8921687.SQ.FTS.B

,

4

.717

%

,

10/03/26

...

8,763

8,351

a

8921862.SQ.FTS.B

,

4

.717

%

,

10/03/26

...

6,925

6,645

a

8921951.SQ.FTS.B

,

4

.717

%

,

10/03/26

...

29,029

27,886

a

8923168.SQ.FTS.B

,

4

.717

%

,

10/03/26

...

26,617

25,633

a

8924167.SQ.FTS.B

,

4

.717

%

,

10/03/26

...

19,358

18,617

a

8925319.SQ.FTS.B

,

4

.718

%

,

10/03/26

...

2,330

2,234

a

8925345.SQ.FTS.B

,

4

.721

%

,

10/03/26

...

3,617

3,477

a

8923136.SQ.FTS.B

,

4

.73

%

,

10/03/26

....

2,115

2,031

a

8925420.SQ.FTS.B

,

4

.962

%

,

10/03/26

...

596

500

a

8922729.SQ.FTS.B

,

5

.031

%

,

10/03/26

...

20,941

19,894

a

8925424.SQ.FTS.B

,

5

.031

%

,

10/03/26

...

75,310

70,172

a

8922536.SQ.FTS.B

,

5

.346

%

,

10/03/26

...

12,492

11,921

a

8925006.SQ.FTS.B

,

5

.629

%

,

10/03/26

...

2,665

2,497

a

8921796.SQ.FTS.B

,

5

.902

%

,

10/03/26

...

1,800

1,719

a

8924440.SQ.FTS.B

,

6

.101

%

,

10/03/26

...

19,401

18,793

a

8925056.SQ.FTS.B

,

6

.101

%

,

10/03/26

...

32,971

31,512

a

8924731.SQ.FTS.B

,

6

.289

%

,

10/03/26

...

14,369

13,374

a

8921558.SQ.FTS.B

,

6

.447

%

,

10/03/26

...

1,515

1,305

a

8924008.SQ.FTS.B

,

6

.448

%

,

10/03/26

...

17,480

12,625

a

8928669.SQ.FTS.B

,

4

.707

%

,

10/04/26

...

1,920

1,850

a

8929365.SQ.FTS.B

,

4

.711

%

,

10/04/26

...

3,273

3,050

a

8929141.SQ.FTS.B

,

4

.716

%

,

10/04/26

...

5,025

4,453

a

8927324.SQ.FTS.B

,

4

.717

%

,

10/04/26

...

17,401

16,618

a

8928418.SQ.FTS.B

,

4

.717

%

,

10/04/26

...

11,305

10,807

a

8928726.SQ.FTS.B

,

4

.717

%

,

10/04/26

...

13,611

13,049

a

8928969.SQ.FTS.B

,

4

.717

%

,

10/04/26

...

12,732

12,168

a

8929609.SQ.FTS.B

,

4

.717

%

,

10/04/26

...

3,553

3,374

a

8926742.SQ.FTS.B

,

4

.718

%

,

10/04/26

...

18,738

18,044

a

8929394.SQ.FTS.B

,

4

.718

%

,

10/04/26

...

22,982

21,391

a

8926176.SQ.FTS.B

,

4

.72

%

,

10/04/26

....

5,208

5,012

a

8929323.SQ.FTS.B

,

4

.721

%

,

10/04/26

...

2,803

2,484

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8928211.SQ.FTS.B

,

5

.031

%

,

10/04/26

...

$

8,004

$

7,088

a

8928251.SQ.FTS.B

,

5

.031

%

,

10/04/26

...

7,572

7,296

a

8928373.SQ.FTS.B

,

5

.031

%

,

10/04/26

...

3,811

3,647

a

8929667.SQ.FTS.B

,

5

.031

%

,

10/04/26

...

7,917

7,554

a

8929651.SQ.FTS.B

,

5

.035

%

,

10/04/26

...

2,776

2,627

a

8929194.SQ.FTS.B

,

5

.346

%

,

10/04/26

...

11,661

11,285

a

8926716.SQ.FTS.B

,

5

.352

%

,

10/04/26

...

3,698

3,442

a

8928006.SQ.FTS.B

,

5

.354

%

,

10/04/26

...

3,002

2,852

a

8927201.SQ.FTS.B

,

5

.357

%

,

10/04/26

...

2,297

2,223

a

8928930.SQ.FTS.B

,

5

.358

%

,

10/04/26

...

2,747

2,356

a

8926383.SQ.FTS.B

,

5

.597

%

,

10/04/26

...

13,315

12,798

a

8927615.SQ.FTS.B

,

5

.598

%

,

10/04/26

...

23,287

22,459

a

8929766.SQ.FTS.B

,

5

.598

%

,

10/04/26

...

29,373

27,409

a

8928327.SQ.FTS.B

,

5

.913

%

,

10/04/26

...

4,475

4,284

a

8928100.SQ.FTS.B

,

6

.101

%

,

10/04/26

...

5,200

5,037

a

8928186.SQ.FTS.B

,

6

.103

%

,

10/04/26

...

1,779

1,726

a

8927583.SQ.FTS.B

,

6

.28

%

,

10/04/26

....

1,085

1,027

a

8926136.SQ.FTS.B

,

6

.286

%

,

10/04/26

...

2,445

2,289

a

8928058.SQ.FTS.B

,

6

.447

%

,

10/04/26

...

3,054

2,692

a

8928581.SQ.FTS.B

,

6

.448

%

,

10/04/26

...

4,153

3,677

a

8928687.SQ.FTS.B

,

6

.453

%

,

10/04/26

...

5,432

3,150

a

8928653.SQ.FTS.B

,

6

.454

%

,

10/04/26

...

1,594

1,509

a

8928919.SQ.FTS.B

,

6

.456

%

,

10/04/26

...

1,878

1,789

a

8927594.SQ.FTS.B

,

6

.463

%

,

10/04/26

...

1,859

1,383

a

8928895.SQ.FTS.B

,

6

.467

%

,

10/04/26

...

948

925

a

8927605.SQ.FTS.B

,

6

.478

%

,

10/04/26

...

904

800

a

8930254.SQ.FTS.B

,

4

.715

%

,

10/05/26

...

3,953

3,799

a

8930868.SQ.FTS.B

,

4

.715

%

,

10/05/26

...

8,725

8,384

a

8930794.SQ.FTS.B

,

4

.717

%

,

10/05/26

...

6,909

6,658

a

8930618.SQ.FTS.B

,

4

.718

%

,

10/05/26

...

21,679

20,526

a

8930945.SQ.FTS.B

,

4

.725

%

,

10/05/26

...

1,466

1,402

a

8930376.SQ.FTS.B

,

4

.926

%

,

10/05/26

...

1,441

1,389

a

8930431.SQ.FTS.B

,

5

.347

%

,

10/05/26

...

10,628

10,111

a

8930177.SQ.FTS.B

,

5

.348

%

,

10/05/26

...

12,600

11,997

a

8930310.SQ.FTS.B

,

5

.349

%

,

10/05/26

...

7,821

7,567

a

8930963.SQ.FTS.B

,

5

.589

%

,

10/05/26

...

2,596

2,508

a

8930530.SQ.FTS.B

,

5

.6

%

,

10/05/26

.....

8,965

7,624

a

8930998.SQ.FTS.B

,

5

.606

%

,

10/05/26

...

2,391

2,297

a

8930599.SQ.FTS.B

,

5

.608

%

,

10/05/26

...

1,956

1,879

a

8930586.SQ.FTS.B

,

5

.625

%

,

10/05/26

...

936

909

a

8930168.SQ.FTS.B

,

5

.63

%

,

10/05/26

....

1,286

1,243

a

8930987.SQ.FTS.B

,

5

.926

%

,

10/05/26

...

1,098

1,059

a

8930394.SQ.FTS.B

,

6

.096

%

,

10/05/26

...

5,187

4,842

a

8930285.SQ.FTS.B

,

6

.448

%

,

10/05/26

...

3,643

3,228

a

8931758.SQ.FTS.B

,

4

.738

%

,

10/06/26

...

1,289

1,239

a

8931722.SQ.FTS.B

,

4

.931

%

,

10/06/26

...

807

757

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

75

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8931016.SQ.FTS.B

,

5

.348

%

,

10/06/26

...

$

3,417

$

3,306

a

8931772.SQ.FTS.B

,

5

.598

%

,

10/06/26

...

18,518

17,914

a

8931061.SQ.FTS.B

,

6

.102

%

,

10/06/26

...

12,626

11,928

a

8931042.SQ.FTS.B

,

6

.439

%

,

10/06/26

...

1,788

1,685

a

8933609.SQ.FTS.B

,

4

.715

%

,

10/07/26

...

7,026

6,713

a

8935491.SQ.FTS.B

,

4

.716

%

,

10/07/26

...

4,785

4,599

a

8934541.SQ.FTS.B

,

4

.717

%

,

10/07/26

...

10,149

9,757

a

8936596.SQ.FTS.B

,

4

.719

%

,

10/07/26

...

9,428

9,035

a

8936800.SQ.FTS.B

,

4

.721

%

,

10/07/26

...

7,127

6,853

a

8932929.SQ.FTS.B

,

4

.722

%

,

10/07/26

...

2,287

2,200

a

8933021.SQ.FTS.B

,

4

.724

%

,

10/07/26

...

3,281

3,163

a

8936052.SQ.FTS.B

,

4

.724

%

,

10/07/26

...

3,747

3,607

a

8935775.SQ.FTS.B

,

4

.952

%

,

10/07/26

...

1,442

797

a

8934661.SQ.FTS.B

,

5

.026

%

,

10/07/26

...

1,882

1,763

a

8934779.SQ.FTS.B

,

5

.031

%

,

10/07/26

...

9,773

9,258

a

8935258.SQ.FTS.B

,

5

.031

%

,

10/07/26

...

9,664

9,262

a

8936334.SQ.FTS.B

,

5

.343

%

,

10/07/26

...

2,761

2,639

a

8934327.SQ.FTS.B

,

5

.346

%

,

10/07/26

...

4,520

4,315

a

8935796.SQ.FTS.B

,

5

.348

%

,

10/07/26

...

17,561

15,992

a

8934377.SQ.FTS.B

,

5

.349

%

,

10/07/26

...

9,080

8,590

a

8934694.SQ.FTS.B

,

5

.35

%

,

10/07/26

....

6,076

5,640

a

8933523.SQ.FTS.B

,

5

.59

%

,

10/07/26

....

1,449

1,393

a

8935085.SQ.FTS.B

,

5

.597

%

,

10/07/26

...

14,772

8,069

a

8933755.SQ.FTS.B

,

5

.629

%

,

10/07/26

...

1,367

1,309

a

8933797.SQ.FTS.B

,

5

.912

%

,

10/07/26

...

32,734

31,344

a

8935607.SQ.FTS.B

,

6

.095

%

,

10/07/26

...

5,776

4,418

a

8934978.SQ.FTS.B

,

6

.1

%

,

10/07/26

.....

8,286

5,898

a

8935698.SQ.FTS.B

,

6

.1

%

,

10/07/26

.....

4,418

4,111

a

8936128.SQ.FTS.B

,

6

.102

%

,

10/07/26

...

9,886

9,345

a

8935413.SQ.FTS.B

,

6

.118

%

,

10/07/26

...

940

865

a

8935582.SQ.FTS.B

,

6

.289

%

,

10/07/26

...

1,652

871

a

8936375.SQ.FTS.B

,

6

.442

%

,

10/07/26

...

4,163

3,725

a

8936092.SQ.FTS.B

,

6

.454

%

,

10/07/26

...

3,425

3,200

a

8935427.SQ.FTS.B

,

6

.455

%

,

10/07/26

...

2,572

2,360

a

8937160.SQ.FTS.B

,

4

.715

%

,

10/08/26

...

2,705

2,563

a

8936919.SQ.FTS.B

,

4

.717

%

,

10/08/26

...

7,548

7,229

a

8937602.SQ.FTS.B

,

4

.717

%

,

10/08/26

...

2,813

2,652

a

8937695.SQ.FTS.B

,

4

.717

%

,

10/08/26

...

24,484

23,238

a

8939134.SQ.FTS.B

,

4

.717

%

,

10/08/26

...

32,365

31,015

a

8940084.SQ.FTS.B

,

4

.717

%

,

10/08/26

...

56,502

53,831

a

8938417.SQ.FTS.B

,

4

.719

%

,

10/08/26

...

17,601

16,372

a

8939822.SQ.FTS.B

,

4

.719

%

,

10/08/26

...

6,360

6,089

a

8940635.SQ.FTS.B

,

4

.719

%

,

10/08/26

...

4,287

4,120

a

8938315.SQ.FTS.B

,

4

.721

%

,

10/08/26

...

6,018

5,762

a

8939770.SQ.FTS.B

,

4

.722

%

,

10/08/26

...

5,904

5,669

a

8939718.SQ.FTS.B

,

4

.731

%

,

10/08/26

...

2,074

1,977

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8938232.SQ.FTS.B

,

4

.923

%

,

10/08/26

...

$

871

$

505

a

8938236.SQ.FTS.B

,

4

.937

%

,

10/08/26

...

1,668

1,612

a

8937263.SQ.FTS.B

,

5

.031

%

,

10/08/26

...

6,230

5,890

a

8939420.SQ.FTS.B

,

5

.031

%

,

10/08/26

...

11,631

11,192

a

8940916.SQ.FTS.B

,

5

.031

%

,

10/08/26

...

1,815

1,741

a

8937385.SQ.FTS.B

,

5

.037

%

,

10/08/26

...

4,104

3,824

a

8939595.SQ.FTS.B

,

5

.346

%

,

10/08/26

...

10,263

9,826

a

8937116.SQ.FTS.B

,

5

.352

%

,

10/08/26

...

2,248

2,167

a

8937203.SQ.FTS.B

,

5

.358

%

,

10/08/26

...

1,548

1,500

a

8940727.SQ.FTS.B

,

5

.596

%

,

10/08/26

...

6,512

6,234

a

8940812.SQ.FTS.B

,

5

.597

%

,

10/08/26

...

5,734

5,556

a

8939936.SQ.FTS.B

,

5

.912

%

,

10/08/26

...

10,101

9,539

a

8938614.SQ.FTS.B

,

6

.1

%

,

10/08/26

.....

36,253

32,746

a

8941018.SQ.FTS.B

,

6

.292

%

,

10/08/26

...

3,464

3,181

a

8940025.SQ.FTS.B

,

6

.293

%

,

10/08/26

...

2,496

2,305

a

8941007.SQ.FTS.B

,

6

.436

%

,

10/08/26

...

1,931

1,390

a

8941002.SQ.FTS.B

,

6

.442

%

,

10/08/26

...

1,415

1,357

a

8937440.SQ.FTS.B

,

6

.447

%

,

10/08/26

...

4,679

4,452

a

8941505.SQ.FTS.B

,

4

.717

%

,

10/09/26

...

16,244

15,634

a

8942038.SQ.FTS.B

,

4

.717

%

,

10/09/26

...

9,549

8,987

a

8942979.SQ.FTS.B

,

4

.717

%

,

10/09/26

...

23,501

22,464

a

8943210.SQ.FTS.B

,

4

.717

%

,

10/09/26

...

23,731

22,819

a

8942705.SQ.FTS.B

,

4

.718

%

,

10/09/26

...

31,447

26,315

a

8943500.SQ.FTS.B

,

4

.72

%

,

10/09/26

....

8,780

8,393

a

8944014.SQ.FTS.B

,

4

.721

%

,

10/09/26

...

5,116

4,910

a

8942205.SQ.FTS.B

,

4

.937

%

,

10/09/26

...

27,535

26,338

a

8943820.SQ.FTS.B

,

4

.938

%

,

10/09/26

...

13,561

3,355

a

8943647.SQ.FTS.B

,

5

.031

%

,

10/09/26

...

12,634

10,428

a

8943814.SQ.FTS.B

,

5

.031

%

,

10/09/26

...

1,176

1,121

a

8944218.SQ.FTS.B

,

5

.031

%

,

10/09/26

...

29,872

25,260

a

8944752.SQ.FTS.B

,

5

.031

%

,

10/09/26

...

20,574

19,711

a

8943787.SQ.FTS.B

,

5

.342

%

,

10/09/26

...

2,309

2,205

a

8944457.SQ.FTS.B

,

5

.347

%

,

10/09/26

...

32,532

30,360

a

8944067.SQ.FTS.B

,

5

.348

%

,

10/09/26

...

11,454

11,022

a

8941948.SQ.FTS.B

,

5

.595

%

,

10/09/26

...

4,435

4,232

a

8944715.SQ.FTS.B

,

5

.598

%

,

10/09/26

...

5,895

5,709

a

8941468.SQ.FTS.B

,

5

.907

%

,

10/09/26

...

3,170

2,992

a

8941059.SQ.FTS.B

,

5

.912

%

,

10/09/26

...

1,996

1,879

a

8943570.SQ.FTS.B

,

6

.103

%

,

10/09/26

...

5,759

5,431

a

8943605.SQ.FTS.B

,

6

.439

%

,

10/09/26

...

823

749

a

8943618.SQ.FTS.B

,

6

.439

%

,

10/09/26

...

2,171

2,008

a

8942200.SQ.FTS.B

,

6

.447

%

,

10/09/26

...

414

116

a

8941192.SQ.FTS.B

,

6

.448

%

,

10/09/26

...

20,524

13,843

a

8941143.SQ.FTS.B

,

6

.449

%

,

10/09/26

...

2,949

2,818

a

8943614.SQ.FTS.B

,

6

.478

%

,

10/09/26

...

553

535

a

8952482.SQ.FTS.B

,

4

.715

%

,

10/10/26

...

6,115

5,867

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

76

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8949640.SQ.FTS.B

,

4

.717

%

,

10/10/26

...

$

17,691

$

16,990

a

8950012.SQ.FTS.B

,

4

.717

%

,

10/10/26

...

14,592

14,016

a

8950385.SQ.FTS.B

,

4

.717

%

,

10/10/26

...

2,655

2,550

a

8950632.SQ.FTS.B

,

4

.717

%

,

10/10/26

...

7,240

6,935

a

8952011.SQ.FTS.B

,

4

.717

%

,

10/10/26

...

16,332

15,651

a

8952253.SQ.FTS.B

,

4

.717

%

,

10/10/26

...

12,432

11,928

a

8948050.SQ.FTS.B

,

4

.718

%

,

10/10/26

...

36,105

34,131

a

8952426.SQ.FTS.B

,

4

.723

%

,

10/10/26

...

4,848

4,653

a

8949473.SQ.FTS.B

,

4

.958

%

,

10/10/26

...

664

631

a

8949380.SQ.FTS.B

,

5

.023

%

,

10/10/26

...

2,794

2,624

a

8949500.SQ.FTS.B

,

5

.328

%

,

10/10/26

...

1,156

1,106

a

8949526.SQ.FTS.B

,

5

.342

%

,

10/10/26

...

4,256

4,051

a

8950478.SQ.FTS.B

,

5

.596

%

,

10/10/26

...

12,191

11,423

a

8949247.SQ.FTS.B

,

5

.597

%

,

10/10/26

...

7,006

6,736

a

8950425.SQ.FTS.B

,

5

.637

%

,

10/10/26

...

2,489

1,751

a

8950855.SQ.FTS.B

,

5

.912

%

,

10/10/26

...

79,327

76,851

a

8949615.SQ.FTS.B

,

6

.09

%

,

10/10/26

....

2,298

2,168

a

8952559.SQ.FTS.B

,

6

.101

%

,

10/10/26

...

25,877

20,733

a

8950779.SQ.FTS.B

,

6

.106

%

,

10/10/26

...

3,498

3,376

a

8950305.SQ.FTS.B

,

6

.113

%

,

10/10/26

...

1,183

1,147

a

8949998.SQ.FTS.B

,

6

.289

%

,

10/10/26

...

1,319

646

a

8948583.SQ.FTS.B

,

6

.447

%

,

10/10/26

...

21,532

20,513

a

8949911.SQ.FTS.B

,

6

.447

%

,

10/10/26

...

3,804

3,712

a

8950335.SQ.FTS.B

,

6

.447

%

,

10/10/26

...

1,927

1,801

a

8951739.SQ.FTS.B

,

6

.447

%

,

10/10/26

...

16,140

13,969

a

8948535.SQ.FTS.B

,

6

.454

%

,

10/10/26

...

3,179

2,364

a

8949441.SQ.FTS.B

,

6

.457

%

,

10/10/26

...

2,145

2,075

a

8954792.SQ.FTS.B

,

4

.71

%

,

10/11/26

....

2,742

2,636

a

8955164.SQ.FTS.B

,

4

.715

%

,

10/11/26

...

8,620

8,261

a

8953074.SQ.FTS.B

,

4

.717

%

,

10/11/26

...

13,529

12,920

a

8953345.SQ.FTS.B

,

4

.717

%

,

10/11/26

...

1,834

1,752

a

8953656.SQ.FTS.B

,

4

.717

%

,

10/11/26

...

2,553

2,454

a

8953942.SQ.FTS.B

,

4

.717

%

,

10/11/26

...

1,654

1,564

a

8954818.SQ.FTS.B

,

4

.717

%

,

10/11/26

...

4,152

3,994

a

8955040.SQ.FTS.B

,

4

.717

%

,

10/11/26

...

6,077

5,839

a

8955701.SQ.FTS.B

,

4

.717

%

,

10/11/26

...

40,773

39,227

a

8956507.SQ.FTS.B

,

4

.718

%

,

10/11/26

...

20,396

19,569

a

8955356.SQ.FTS.B

,

4

.719

%

,

10/11/26

...

11,352

10,916

a

8955644.SQ.FTS.B

,

4

.719

%

,

10/11/26

...

2,639

2,538

a

8956844.SQ.FTS.B

,

4

.719

%

,

10/11/26

...

3,076

2,934

a

8954018.SQ.FTS.B

,

4

.738

%

,

10/11/26

...

1,303

1,254

a

8955120.SQ.FTS.B

,

5

.031

%

,

10/11/26

...

2,183

2,091

a

8956223.SQ.FTS.B

,

5

.037

%

,

10/11/26

...

3,817

3,637

a

8954264.SQ.FTS.B

,

5

.346

%

,

10/11/26

...

43,216

40,616

a

8956245.SQ.FTS.B

,

5

.346

%

,

10/11/26

...

16,304

15,425

a

8955321.SQ.FTS.B

,

5

.351

%

,

10/11/26

...

3,227

2,927

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8953403.SQ.FTS.B

,

5

.597

%

,

10/11/26

...

$

2,518

$

2,405

a

8954034.SQ.FTS.B

,

5

.599

%

,

10/11/26

...

14,503

13,937

a

8953819.SQ.FTS.B

,

5

.6

%

,

10/11/26

.....

4,852

4,225

a

8955682.SQ.FTS.B

,

5

.623

%

,

10/11/26

...

3,813

944

a

8953484.SQ.FTS.B

,

6

.101

%

,

10/11/26

...

4,237

4,043

a

8955572.SQ.FTS.B

,

6

.101

%

,

10/11/26

...

3,807

3,690

a

8952934.SQ.FTS.B

,

6

.104

%

,

10/11/26

...

2,871

2,609

a

8953757.SQ.FTS.B

,

6

.11

%

,

10/11/26

....

2,909

2,330

a

8956813.SQ.FTS.B

,

6

.11

%

,

10/11/26

....

1,521

1,099

a

8956870.SQ.FTS.B

,

6

.289

%

,

10/11/26

...

2,852

2,535

a

8952757.SQ.FTS.B

,

6

.447

%

,

10/11/26

...

8,419

8,127

a

8952702.SQ.FTS.B

,

6

.451

%

,

10/11/26

...

1,762

1,693

a

8953982.SQ.FTS.B

,

6

.452

%

,

10/11/26

...

1,455

1,380

a

8954961.SQ.FTS.B

,

6

.455

%

,

10/11/26

...

2,724

2,615

a

8952924.SQ.FTS.B

,

6

.462

%

,

10/11/26

...

742

698

a

8956946.SQ.FTS.B

,

4

.717

%

,

10/12/26

...

37,206

34,767

a

8957895.SQ.FTS.B

,

4

.719

%

,

10/12/26

...

10,817

10,400

a

8957341.SQ.FTS.B

,

4

.721

%

,

10/12/26

...

3,828

3,618

a

8958034.SQ.FTS.B

,

5

.031

%

,

10/12/26

...

1,174

1,129

a

8957766.SQ.FTS.B

,

5

.593

%

,

10/12/26

...

2,169

2,027

a

8957375.SQ.FTS.B

,

5

.597

%

,

10/12/26

...

17,142

16,573

a

8959996.SQ.FTS.B

,

6

.084

%

,

10/12/26

...

401

388

a

8956929.SQ.FTS.B

,

6

.114

%

,

10/12/26

...

1,867

1,701

a

8957621.SQ.FTS.B

,

6

.289

%

,

10/12/26

...

6,447

6,265

a

8956911.SQ.FTS.B

,

6

.434

%

,

10/12/26

...

476

462

a

8957791.SQ.FTS.B

,

6

.447

%

,

10/12/26

...

9,036

7,975

a

8957569.SQ.FTS.B

,

6

.448

%

,

10/12/26

...

5,179

4,779

a

8958432.SQ.FTS.B

,

4

.714

%

,

10/13/26

...

5,204

4,991

a

8958160.SQ.FTS.B

,

4

.718

%

,

10/13/26

...

24,011

22,452

a

8958763.SQ.FTS.B

,

4

.718

%

,

10/13/26

...

27,203

25,975

a

8958631.SQ.FTS.B

,

4

.719

%

,

10/13/26

...

13,254

12,325

a

8958483.SQ.FTS.B

,

4

.72

%

,

10/13/26

....

8,176

7,637

a

8958119.SQ.FTS.B

,

5

.038

%

,

10/13/26

...

3,037

2,886

a

8958061.SQ.FTS.B

,

5

.606

%

,

10/13/26

...

2,768

2,557

a

8959066.SQ.FTS.B

,

6

.281

%

,

10/13/26

...

2,191

2,083

a

8958414.SQ.FTS.B

,

6

.303

%

,

10/13/26

...

1,257

1,142

a

8958593.SQ.FTS.B

,

6

.447

%

,

10/13/26

...

2,898

2,718

a

8958087.SQ.FTS.B

,

6

.457

%

,

10/13/26

...

3,173

2,232

a

8962209.SQ.FTS.B

,

4

.715

%

,

10/14/26

...

6,723

6,420

a

8960016.SQ.FTS.B

,

4

.717

%

,

10/14/26

...

10,251

9,843

a

8960511.SQ.FTS.B

,

4

.717

%

,

10/14/26

...

901

864

a

8960643.SQ.FTS.B

,

4

.717

%

,

10/14/26

...

8,697

8,341

a

8961194.SQ.FTS.B

,

4

.717

%

,

10/14/26

...

5,509

5,275

a

8961533.SQ.FTS.B

,

4

.717

%

,

10/14/26

...

13,779

13,231

a

8962553.SQ.FTS.B

,

4

.717

%

,

10/14/26

...

11,529

11,060

a

8963721.SQ.FTS.B

,

4

.717

%

,

10/14/26

...

11,559

11,094

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

77

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8963948.SQ.FTS.B

,

4

.717

%

,

10/14/26

...

$

6,434

$

6,161

a

8960970.SQ.FTS.B

,

4

.719

%

,

10/14/26

...

12,140

11,624

a

8962324.SQ.FTS.B

,

4

.719

%

,

10/14/26

...

12,967

12,420

a

8964388.SQ.FTS.B

,

4

.722

%

,

10/14/26

...

5,522

5,308

a

8960881.SQ.FTS.B

,

4

.723

%

,

10/14/26

...

2,207

2,120

a

8962153.SQ.FTS.B

,

4

.726

%

,

10/14/26

...

2,967

2,853

a

8960232.SQ.FTS.B

,

4

.933

%

,

10/14/26

...

2,751

2,615

a

8960551.SQ.FTS.B

,

5

.02

%

,

10/14/26

....

1,663

1,606

a

8964511.SQ.FTS.B

,

5

.029

%

,

10/14/26

...

3,806

3,594

a

8961757.SQ.FTS.B

,

5

.031

%

,

10/14/26

...

16,196

15,220

a

8962768.SQ.FTS.B

,

5

.031

%

,

10/14/26

...

30,727

29,450

a

8961252.SQ.FTS.B

,

5

.036

%

,

10/14/26

...

2,356

2,275

a

8963262.SQ.FTS.B

,

5

.351

%

,

10/14/26

...

4,123

3,944

a

8960391.SQ.FTS.B

,

5

.589

%

,

10/14/26

...

2,757

2,614

a

8961358.SQ.FTS.B

,

5

.597

%

,

10/14/26

...

8,710

8,273

a

8963849.SQ.FTS.B

,

5

.632

%

,

10/14/26

...

7,180

6,034

a

8962066.SQ.FTS.B

,

5

.909

%

,

10/14/26

...

3,133

3,028

a

8964246.SQ.FTS.B

,

6

.092

%

,

10/14/26

...

1,284

1,202

a

8963305.SQ.FTS.B

,

6

.101

%

,

10/14/26

...

11,248

10,593

a

8963479.SQ.FTS.B

,

6

.103

%

,

10/14/26

...

6,150

5,946

a

8964270.SQ.FTS.B

,

6

.105

%

,

10/14/26

...

5,046

4,826

a

8961718.SQ.FTS.B

,

6

.289

%

,

10/14/26

...

2,057

1,969

a

8960949.SQ.FTS.B

,

6

.31

%

,

10/14/26

....

1,286

529

a

8961293.SQ.FTS.B

,

6

.441

%

,

10/14/26

...

897

872

a

8963558.SQ.FTS.B

,

6

.449

%

,

10/14/26

...

13,110

12,101

a

8964775.SQ.FTS.B

,

4

.713

%

,

10/15/26

...

2,276

2,137

a

8964859.SQ.FTS.B

,

4

.715

%

,

10/15/26

...

10,481

9,860

a

8965065.SQ.FTS.B

,

4

.715

%

,

10/15/26

...

6,064

5,817

a

8965742.SQ.FTS.B

,

4

.717

%

,

10/15/26

...

13,348

12,833

a

8966041.SQ.FTS.B

,

4

.717

%

,

10/15/26

...

15,950

15,346

a

8968549.SQ.FTS.B

,

4

.717

%

,

10/15/26

...

17,763

17,063

a

8969577.SQ.FTS.B

,

4

.717

%

,

10/15/26

...

26,894

25,796

a

8966503.SQ.FTS.B

,

4

.719

%

,

10/15/26

...

5,721

5,478

a

8969405.SQ.FTS.B

,

4

.719

%

,

10/15/26

...

3,698

3,546

a

8967439.SQ.FTS.B

,

4

.72

%

,

10/15/26

....

10,821

10,389

a

8969415.SQ.FTS.B

,

4

.72

%

,

10/15/26

....

10,930

10,207

a

8968311.SQ.FTS.B

,

4

.721

%

,

10/15/26

...

4,083

3,925

a

8969378.SQ.FTS.B

,

4

.725

%

,

10/15/26

...

1,106

1,063

a

8965211.SQ.FTS.B

,

4

.92

%

,

10/15/26

....

1,311

1,215

a

8966301.SQ.FTS.B

,

4

.939

%

,

10/15/26

...

11,790

10,926

a

8965603.SQ.FTS.B

,

5

.031

%

,

10/15/26

...

3,560

3,429

a

8966630.SQ.FTS.B

,

5

.031

%

,

10/15/26

...

861

816

a

8968435.SQ.FTS.B

,

5

.031

%

,

10/15/26

...

7,304

7,012

a

8968710.SQ.FTS.B

,

5

.031

%

,

10/15/26

...

4,240

3,964

a

8968762.SQ.FTS.B

,

5

.031

%

,

10/15/26

...

46,863

45,213

a

8967150.SQ.FTS.B

,

5

.349

%

,

10/15/26

...

6,895

6,607

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8965700.SQ.FTS.B

,

5

.589

%

,

10/15/26

...

$

1,558

$

1,465

a

8968085.SQ.FTS.B

,

5

.597

%

,

10/15/26

...

13,517

12,353

a

8965478.SQ.FTS.B

,

5

.913

%

,

10/15/26

...

3,833

3,536

a

8968412.SQ.FTS.B

,

6

.091

%

,

10/15/26

...

2,053

1,924

a

8966647.SQ.FTS.B

,

6

.101

%

,

10/15/26

...

14,309

13,866

a

8967085.SQ.FTS.B

,

6

.101

%

,

10/15/26

...

4,680

4,214

a

8968503.SQ.FTS.B

,

6

.101

%

,

10/15/26

...

5,400

3,538

a

8969536.SQ.FTS.B

,

6

.107

%

,

10/15/26

...

2,671

2,570

a

8965189.SQ.FTS.B

,

6

.125

%

,

10/15/26

...

588

573

a

8966945.SQ.FTS.B

,

6

.289

%

,

10/15/26

...

4,357

4,172

a

8964704.SQ.FTS.B

,

6

.442

%

,

10/15/26

...

3,423

3,193

a

8965252.SQ.FTS.B

,

6

.447

%

,

10/15/26

...

10,654

8,949

a

8965232.SQ.FTS.B

,

6

.462

%

,

10/15/26

...

1,721

1,566

a

8972852.SQ.FTS.B

,

4

.716

%

,

10/16/26

...

11,556

11,060

a

8969872.SQ.FTS.B

,

4

.717

%

,

10/16/26

...

4,230

3,999

a

8971113.SQ.FTS.B

,

4

.717

%

,

10/16/26

...

9,424

9,035

a

8972725.SQ.FTS.B

,

4

.717

%

,

10/16/26

...

8,042

7,494

a

8973029.SQ.FTS.B

,

4

.717

%

,

10/16/26

...

15,561

14,919

a

8971564.SQ.FTS.B

,

4

.718

%

,

10/16/26

...

12,470

11,646

a

8969794.SQ.FTS.B

,

4

.72

%

,

10/16/26

....

2,438

2,344

a

8971494.SQ.FTS.B

,

5

.021

%

,

10/16/26

...

2,026

1,936

a

8970295.SQ.FTS.B

,

5

.031

%

,

10/16/26

...

9,034

8,701

a

8970567.SQ.FTS.B

,

5

.031

%

,

10/16/26

...

3,693

3,536

a

8970804.SQ.FTS.B

,

5

.031

%

,

10/16/26

...

11,995

11,573

a

8971293.SQ.FTS.B

,

5

.031

%

,

10/16/26

...

11,403

10,820

a

8973251.SQ.FTS.B

,

5

.031

%

,

10/16/26

...

46,038

43,229

a

8969983.SQ.FTS.B

,

5

.346

%

,

10/16/26

...

13,114

12,205

a

8971762.SQ.FTS.B

,

5

.912

%

,

10/16/26

...

79,651

75,486

a

8971532.SQ.FTS.B

,

5

.917

%

,

10/16/26

...

1,332

1,273

a

8971681.SQ.FTS.B

,

6

.1

%

,

10/16/26

.....

2,574

2,282

a

8971709.SQ.FTS.B

,

6

.1

%

,

10/16/26

.....

2,168

2,083

a

8971556.SQ.FTS.B

,

6

.105

%

,

10/16/26

...

1,796

1,706

a

8970280.SQ.FTS.B

,

6

.289

%

,

10/16/26

...

1,038

991

a

8970677.SQ.FTS.B

,

6

.443

%

,

10/16/26

...

3,424

3,275

a

8970649.SQ.FTS.B

,

6

.447

%

,

10/16/26

...

1,039

966

a

8976253.SQ.FTS.B

,

4

.718

%

,

10/17/26

...

25,010

23,966

a

8978331.SQ.FTS.B

,

4

.718

%

,

10/17/26

...

21,816

20,494

a

8978674.SQ.FTS.B

,

4

.719

%

,

10/17/26

...

7,336

7,054

a

8976988.SQ.FTS.B

,

4

.916

%

,

10/17/26

...

598

496

a

8979042.SQ.FTS.B

,

4

.936

%

,

10/17/26

...

382

368

a

8976166.SQ.FTS.B

,

5

.031

%

,

10/17/26

...

7,868

7,578

a

8977011.SQ.FTS.B

,

5

.031

%

,

10/17/26

...

18,587

16,968

a

8977361.SQ.FTS.B

,

5

.031

%

,

10/17/26

...

16,422

15,832

a

8977912.SQ.FTS.B

,

5

.031

%

,

10/17/26

...

19,175

18,371

a

8980205.SQ.FTS.B

,

5

.031

%

,

10/17/26

...

3,275

3,096

a

8979907.SQ.FTS.B

,

5

.346

%

,

10/17/26

...

12,118

11,620

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

78

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8980256.SQ.FTS.B

,

5

.346

%

,

10/17/26

...

$

62,195

$

56,180

a

8979093.SQ.FTS.B

,

5

.597

%

,

10/17/26

...

11,324

10,952

a

8979183.SQ.FTS.B

,

5

.598

%

,

10/17/26

...

32,794

23,975

a

8979729.SQ.FTS.B

,

5

.616

%

,

10/17/26

...

682

554

a

8978638.SQ.FTS.B

,

5

.626

%

,

10/17/26

...

1,781

1,635

a

8977789.SQ.FTS.B

,

5

.629

%

,

10/17/26

...

2,387

2,315

a

8979560.SQ.FTS.B

,

5

.629

%

,

10/17/26

...

9,397

8,669

a

8978609.SQ.FTS.B

,

5

.633

%

,

10/17/26

...

2,131

2,068

a

8978811.SQ.FTS.B

,

5

.911

%

,

10/17/26

...

15,381

13,623

a

8977726.SQ.FTS.B

,

5

.92

%

,

10/17/26

....

3,475

3,297

a

8978280.SQ.FTS.B

,

6

.096

%

,

10/17/26

...

3,014

2,720

a

8976754.SQ.FTS.B

,

6

.099

%

,

10/17/26

...

11,649

10,857

a

8980089.SQ.FTS.B

,

6

.099

%

,

10/17/26

...

3,752

3,647

a

8978220.SQ.FTS.B

,

6

.292

%

,

10/17/26

...

3,774

2,965

a

8979012.SQ.FTS.B

,

6

.438

%

,

10/17/26

...

2,986

1,976

a

8979735.SQ.FTS.B

,

6

.446

%

,

10/17/26

...

9,832

8,762

a

8980156.SQ.FTS.B

,

6

.447

%

,

10/17/26

...

1,324

1,268

a

8983642.SQ.FTS.B

,

4

.717

%

,

10/18/26

...

13,987

12,718

a

8984501.SQ.FTS.B

,

4

.725

%

,

10/18/26

...

3,748

3,566

a

8983194.SQ.FTS.B

,

4

.729

%

,

10/18/26

...

2,385

2,261

a

8984866.SQ.FTS.B

,

4

.937

%

,

10/18/26

...

1,190

1,152

a

8980511.SQ.FTS.B

,

5

.031

%

,

10/18/26

...

13,900

13,338

a

8983479.SQ.FTS.B

,

5

.031

%

,

10/18/26

...

11,690

10,916

a

8984450.SQ.FTS.B

,

5

.031

%

,

10/18/26

...

2,310

2,225

a

8981391.SQ.FTS.B

,

5

.034

%

,

10/18/26

...

5,231

4,877

a

8983784.SQ.FTS.B

,

5

.346

%

,

10/18/26

...

30,009

28,583

a

8984475.SQ.FTS.B

,

5

.349

%

,

10/18/26

...

1,967

1,864

a

8984734.SQ.FTS.B

,

5

.357

%

,

10/18/26

...

2,229

2,153

a

8981753.SQ.FTS.B

,

5

.598

%

,

10/18/26

...

52,725

50,727

a

8984792.SQ.FTS.B

,

5

.603

%

,

10/18/26

...

3,780

3,574

a

8984657.SQ.FTS.B

,

5

.628

%

,

10/18/26

...

1,499

1,365

a

8980889.SQ.FTS.B

,

6

.1

%

,

10/18/26

.....

23,273

19,519

a

8981686.SQ.FTS.B

,

6

.101

%

,

10/18/26

...

3,165

3,038

a

8984688.SQ.FTS.B

,

6

.285

%

,

10/18/26

...

3,023

1,422

a

8984596.SQ.FTS.B

,

6

.289

%

,

10/18/26

...

1,464

1,306

a

8981634.SQ.FTS.B

,

6

.294

%

,

10/18/26

...

2,334

1,594

a

8983217.SQ.FTS.B

,

6

.447

%

,

10/18/26

...

3,058

2,376

a

8983303.SQ.FTS.B

,

6

.449

%

,

10/18/26

...

2,891

2,787

a

8983395.SQ.FTS.B

,

6

.451

%

,

10/18/26

...

3,783

3,626

a

8983273.SQ.FTS.B

,

6

.454

%

,

10/18/26

...

672

609

a

8985474.SQ.FTS.B

,

4

.715

%

,

10/19/26

...

2,298

2,207

a

8985699.SQ.FTS.B

,

4

.718

%

,

10/19/26

...

4,722

4,523

a

8985614.SQ.FTS.B

,

4

.719

%

,

10/19/26

...

11,706

11,200

a

8985822.SQ.FTS.B

,

4

.719

%

,

10/19/26

...

12,816

12,229

a

8985519.SQ.FTS.B

,

4

.725

%

,

10/19/26

...

3,208

3,081

a

8985917.SQ.FTS.B

,

4

.949

%

,

10/19/26

...

1,424

1,311

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

8985782.SQ.FTS.B

,

5

.338

%

,

10/19/26

...

$

2,598

$

2,372

a

8986203.SQ.FTS.B

,

5

.346

%

,

10/19/26

...

8,335

8,053

a

8986178.SQ.FTS.B

,

5

.599

%

,

10/19/26

...

3,448

3,047

a

8986285.SQ.FTS.B

,

5

.628

%

,

10/19/26

...

8,480

7,851

a

8985499.SQ.FTS.B

,

6

.089

%

,

10/19/26

...

2,292

2,159

a

8985550.SQ.FTS.B

,

6

.098

%

,

10/19/26

...

4,133

3,982

a

8986097.SQ.FTS.B

,

6

.1

%

,

10/19/26

.....

7,511

6,622

a

8986051.SQ.FTS.B

,

6

.289

%

,

10/19/26

...

1,942

1,821

a

8985936.SQ.FTS.B

,

6

.445

%

,

10/19/26

...

13,364

11,551

a

8986078.SQ.FTS.B

,

6

.447

%

,

10/19/26

...

2,986

2,082

a

8985741.SQ.FTS.B

,

6

.449

%

,

10/19/26

...

6,065

5,693

a

8985807.SQ.FTS.B

,

6

.468

%

,

10/19/26

...

1,498

1,203

a

8986375.SQ.FTS.B

,

4

.717

%

,

10/20/26

...

16,942

16,268

a

8986539.SQ.FTS.B

,

4

.936

%

,

10/20/26

...

1,641

1,612

a

8987081.SQ.FTS.B

,

5

.031

%

,

10/20/26

...

9,008

8,282

a

8986614.SQ.FTS.B

,

5

.341

%

,

10/20/26

...

3,588

3,460

a

8986655.SQ.FTS.B

,

5

.593

%

,

10/20/26

...

3,317

3,144

a

8986955.SQ.FTS.B

,

5

.596

%

,

10/20/26

...

5,335

5,126

a

8986897.SQ.FTS.B

,

5

.6

%

,

10/20/26

.....

5,042

4,843

a

8986696.SQ.FTS.B

,

5

.918

%

,

10/20/26

...

2,316

2,222

a

8986683.SQ.FTS.B

,

6

.122

%

,

10/20/26

...

1,311

1,234

a

8986815.SQ.FTS.B

,

6

.447

%

,

10/20/26

...

6,583

6,162

a

8986719.SQ.FTS.B

,

6

.45

%

,

10/20/26

....

7,378

6,996

a

8986588.SQ.FTS.B

,

6

.451

%

,

10/20/26

...

2,879

2,594

a

8987026.SQ.FTS.B

,

6

.454

%

,

10/20/26

...

3,025

2,822

a

8987051.SQ.FTS.B

,

6

.454

%

,

10/20/26

...

334

324

a

8987625.SQ.FTS.B

,

4

.717

%

,

10/21/26

...

5,352

5,140

a

8989344.SQ.FTS.B

,

4

.717

%

,

10/21/26

...

1,703

1,621

a

8989386.SQ.FTS.B

,

4

.717

%

,

10/21/26

...

2,408

1,909

a

8989722.SQ.FTS.B

,

4

.717

%

,

10/21/26

...

1,741

1,674

a

8990736.SQ.FTS.B

,

4

.717

%

,

10/21/26

...

40,297

38,448

a

8990253.SQ.FTS.B

,

4

.718

%

,

10/21/26

...

4,586

4,376

a

8988904.SQ.FTS.B

,

4

.719

%

,

10/21/26

...

12,917

12,374

a

8989804.SQ.FTS.B

,

4

.722

%

,

10/21/26

...

5,283

4,999

a

8989747.SQ.FTS.B

,

4

.901

%

,

10/21/26

...

525

398

a

8987978.SQ.FTS.B

,

5

.031

%

,

10/21/26

...

27,662

26,669

a

8988549.SQ.FTS.B

,

5

.031

%

,

10/21/26

...

22,190

20,739

a

8989423.SQ.FTS.B

,

5

.031

%

,

10/21/26

...

1,719

1,634

a

8991440.SQ.FTS.B

,

5

.034

%

,

10/21/26

...

5,594

5,358

a

8987791.SQ.FTS.B

,

5

.341

%

,

10/21/26

...

3,889

3,684

a

8989755.SQ.FTS.B

,

5

.346

%

,

10/21/26

...

2,114

2,038

a

8990517.SQ.FTS.B

,

5

.346

%

,

10/21/26

...

15,984

15,173

a

8990399.SQ.FTS.B

,

5

.353

%

,

10/21/26

...

1,921

1,847

a

8988877.SQ.FTS.B

,

5

.594

%

,

10/21/26

...

2,683

2,505

a

8989210.SQ.FTS.B

,

5

.6

%

,

10/21/26

.....

5,057

4,890

a

8989912.SQ.FTS.B

,

6

.101

%

,

10/21/26

...

20,449

19,676

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

79

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

8990453.SQ.FTS.B

,

6

.107

%

,

10/21/26

...

$

1,891

$

1,792

a

8990487.SQ.FTS.B

,

6

.447

%

,

10/21/26

...

953

924

a

8989084.SQ.FTS.B

,

6

.448

%

,

10/21/26

...

6,251

5,538

a

8989484.SQ.FTS.B

,

6

.448

%

,

10/21/26

...

8,445

8,039

a

8988860.SQ.FTS.B

,

6

.451

%

,

10/21/26

...

1,240

1,198

a

8989674.SQ.FTS.B

,

6

.454

%

,

10/21/26

...

3,133

2,869

a

8989182.SQ.FTS.B

,

6

.458

%

,

10/21/26

...

924

836

a

8993739.SQ.FTS.B

,

4

.714

%

,

10/22/26

...

3,304

3,172

a

8995988.SQ.FTS.B

,

4

.717

%

,

10/22/26

...

14,917

14,007

a

8996209.SQ.FTS.B

,

4

.717

%

,

10/22/26

...

14,099

13,491

a

8996117.SQ.FTS.B

,

4

.718

%

,

10/22/26

...

3,527

3,296

a

8991946.SQ.FTS.B

,

4

.722

%

,

10/22/26

...

6,296

6,040

a

8991894.SQ.FTS.B

,

4

.735

%

,

10/22/26

...

1,522

1,442

a

8993612.SQ.FTS.B

,

5

.031

%

,

10/22/26

...

5,617

5,420

a

8995009.SQ.FTS.B

,

5

.031

%

,

10/22/26

...

8,386

8,095

a

8995167.SQ.FTS.B

,

5

.031

%

,

10/22/26

...

37,424

35,736

a

8992384.SQ.FTS.B

,

5

.346

%

,

10/22/26

...

52,897

51,032

a

8993870.SQ.FTS.B

,

5

.348

%

,

10/22/26

...

8,530

8,173

a

8995633.SQ.FTS.B

,

5

.349

%

,

10/22/26

...

9,051

8,732

a

8995699.SQ.FTS.B

,

5

.599

%

,

10/22/26

...

20,125

19,263

a

8992093.SQ.FTS.B

,

5

.6

%

,

10/22/26

.....

10,688

10,064

a

8996170.SQ.FTS.B

,

5

.907

%

,

10/22/26

...

3,161

3,053

a

8994465.SQ.FTS.B

,

5

.912

%

,

10/22/26

...

36,405

34,728

a

8996139.SQ.FTS.B

,

5

.912

%

,

10/22/26

...

2,940

2,812

a

8995614.SQ.FTS.B

,

6

.11

%

,

10/22/26

....

2,013

1,941

a

8992361.SQ.FTS.B

,

6

.281

%

,

10/22/26

...

1,136

1,005

a

8994035.SQ.FTS.B

,

6

.447

%

,

10/22/26

...

23,510

22,898

a

8997660.SQ.FTS.B

,

4

.713

%

,

10/23/26

...

5,670

5,423

a

8997888.SQ.FTS.B

,

4

.714

%

,

10/23/26

...

4,630

4,419

a

8997559.SQ.FTS.B

,

4

.715

%

,

10/23/26

...

7,268

6,855

a

9000304.SQ.FTS.B

,

4

.715

%

,

10/23/26

...

4,882

4,676

a

8998658.SQ.FTS.B

,

4

.717

%

,

10/23/26

...

4,579

4,394

a

8998948.SQ.FTS.B

,

4

.717

%

,

10/23/26

...

2,963

2,721

a

8998994.SQ.FTS.B

,

4

.719

%

,

10/23/26

...

12,653

12,100

a

8999176.SQ.FTS.B

,

4

.719

%

,

10/23/26

...

14,393

13,813

a

8998493.SQ.FTS.B

,

4

.72

%

,

10/23/26

....

11,998

10,808

a

8998438.SQ.FTS.B

,

4

.746

%

,

10/23/26

...

1,035

991

a

8996591.SQ.FTS.B

,

5

.026

%

,

10/23/26

...

2,090

1,963

a

8996344.SQ.FTS.B

,

5

.031

%

,

10/23/26

...

6,174

5,819

a

8996724.SQ.FTS.B

,

5

.031

%

,

10/23/26

...

17,863

17,145

a

8997175.SQ.FTS.B

,

5

.031

%

,

10/23/26

...

19,211

18,286

a

8999309.SQ.FTS.B

,

5

.031

%

,

10/23/26

...

49,037

46,338

a

9000144.SQ.FTS.B

,

5

.031

%

,

10/23/26

...

8,989

8,301

a

8997979.SQ.FTS.B

,

5

.342

%

,

10/23/26

...

5,379

5,080

a

8999710.SQ.FTS.B

,

5

.346

%

,

10/23/26

...

49,766

47,692

a

9000255.SQ.FTS.B

,

5

.346

%

,

10/23/26

...

4,444

4,215

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

9000364.SQ.FTS.B

,

5

.346

%

,

10/23/26

...

$

29,692

$

28,688

a

8996627.SQ.FTS.B

,

5

.637

%

,

10/23/26

...

989

927

a

8998026.SQ.FTS.B

,

5

.912

%

,

10/23/26

...

30,293

29,116

a

8997155.SQ.FTS.B

,

6

.116

%

,

10/23/26

...

1,064

1,004

a

8996662.SQ.FTS.B

,

6

.439

%

,

10/23/26

...

2,229

2,143

a

8996556.SQ.FTS.B

,

6

.44

%

,

10/23/26

....

2,156

1,952

a

8998977.SQ.FTS.B

,

6

.44

%

,

10/23/26

....

983

918

a

8999120.SQ.FTS.B

,

6

.445

%

,

10/23/26

...

7,223

4,435

a

8999281.SQ.FTS.B

,

6

.445

%

,

10/23/26

...

3,719

2,929

a

8998723.SQ.FTS.B

,

6

.448

%

,

10/23/26

...

19,677

18,914

a

8997742.SQ.FTS.B

,

6

.449

%

,

10/23/26

...

4,428

4,207

a

8996442.SQ.FTS.B

,

6

.45

%

,

10/23/26

....

8,936

8,058

a

9006660.SQ.FTS.B

,

4

.714

%

,

10/24/26

...

2,607

2,500

a

9003589.SQ.FTS.B

,

4

.715

%

,

10/24/26

...

9,285

8,878

a

9005567.SQ.FTS.B

,

4

.717

%

,

10/24/26

...

39,388

37,149

a

9006116.SQ.FTS.B

,

4

.717

%

,

10/24/26

...

13,014

9,723

a

9006060.SQ.FTS.B

,

4

.719

%

,

10/24/26

...

5,936

5,674

a

9007011.SQ.FTS.B

,

4

.719

%

,

10/24/26

...

13,133

12,554

a

9007181.SQ.FTS.B

,

4

.719

%

,

10/24/26

...

7,530

7,154

a

9004726.SQ.FTS.B

,

4

.724

%

,

10/24/26

...

4,712

4,429

a

9003317.SQ.FTS.B

,

4

.928

%

,

10/24/26

...

2,235

1,495

a

9004977.SQ.FTS.B

,

4

.977

%

,

10/24/26

...

786

239

a

9003143.SQ.FTS.B

,

5

.029

%

,

10/24/26

...

5,417

5,125

a

9004099.SQ.FTS.B

,

5

.031

%

,

10/24/26

...

12,370

11,671

a

9004982.SQ.FTS.B

,

5

.031

%

,

10/24/26

...

1,319

1,261

a

9006530.SQ.FTS.B

,

5

.031

%

,

10/24/26

...

4,873

4,667

a

9006926.SQ.FTS.B

,

5

.031

%

,

10/24/26

...

9,949

9,490

a

9004492.SQ.FTS.B

,

5

.346

%

,

10/24/26

...

3,804

3,542

a

9006736.SQ.FTS.B

,

5

.346

%

,

10/24/26

...

14,326

13,597

a

9003885.SQ.FTS.B

,

5

.596

%

,

10/24/26

...

9,324

8,850

a

9004564.SQ.FTS.B

,

5

.597

%

,

10/24/26

...

7,488

7,046

a

9007280.SQ.FTS.B

,

5

.597

%

,

10/24/26

...

28,171

27,264

a

9003354.SQ.FTS.B

,

5

.598

%

,

10/24/26

...

8,976

7,954

a

9006383.SQ.FTS.B

,

5

.6

%

,

10/24/26

.....

8,254

7,922

a

9006015.SQ.FTS.B

,

5

.603

%

,

10/24/26

...

3,268

2,845

a

9006711.SQ.FTS.B

,

5

.66

%

,

10/24/26

....

870

670

a

9006226.SQ.FTS.B

,

5

.912

%

,

10/24/26

...

14,258

13,516

a

9003805.SQ.FTS.B

,

5

.913

%

,

10/24/26

...

4,936

4,691

a

9003260.SQ.FTS.B

,

6

.099

%

,

10/24/26

...

2,767

2,555

a

9005290.SQ.FTS.B

,

6

.101

%

,

10/24/26

...

2,417

2,319

a

9005369.SQ.FTS.B

,

6

.101

%

,

10/24/26

...

5,870

5,640

a

9005352.SQ.FTS.B

,

6

.289

%

,

10/24/26

...

811

744

a

9007123.SQ.FTS.B

,

6

.443

%

,

10/24/26

...

6,901

5,702

a

9004822.SQ.FTS.B

,

6

.444

%

,

10/24/26

...

3,844

3,714

a

9003502.SQ.FTS.B

,

6

.445

%

,

10/24/26

...

3,466

3,207

a

9004894.SQ.FTS.B

,

6

.447

%

,

10/24/26

...

6,170

5,838

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

80

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

9007774.SQ.FTS.B

,

6

.447

%

,

10/24/26

...

$

7,864

$

6,990

a

9005020.SQ.FTS.B

,

6

.448

%

,

10/24/26

...

8,877

8,381

a

9006504.SQ.FTS.B

,

6

.457

%

,

10/24/26

...

1,203

1,157

a

9007267.SQ.FTS.B

,

6

.467

%

,

10/24/26

...

1,351

1,232

a

9009834.SQ.FTS.B

,

4

.711

%

,

10/25/26

...

4,273

4,099

a

9007954.SQ.FTS.B

,

4

.717

%

,

10/25/26

...

7,608

7,299

a

9009976.SQ.FTS.B

,

4

.717

%

,

10/25/26

...

2,664

2,548

a

9010353.SQ.FTS.B

,

4

.717

%

,

10/25/26

...

56,398

53,773

a

9010152.SQ.FTS.B

,

4

.719

%

,

10/25/26

...

8,257

7,500

a

9010279.SQ.FTS.B

,

4

.723

%

,

10/25/26

...

4,124

3,942

a

9009656.SQ.FTS.B

,

4

.726

%

,

10/25/26

...

3,220

3,087

a

9008379.SQ.FTS.B

,

5

.031

%

,

10/25/26

...

16,399

15,581

a

9009058.SQ.FTS.B

,

5

.031

%

,

10/25/26

...

34,614

33,272

a

9009762.SQ.FTS.B

,

5

.036

%

,

10/25/26

...

3,281

2,963

a

9007886.SQ.FTS.B

,

5

.038

%

,

10/25/26

...

1,632

1,528

a

9008828.SQ.FTS.B

,

5

.348

%

,

10/25/26

...

7,820

7,337

a

9008220.SQ.FTS.B

,

5

.592

%

,

10/25/26

...

3,458

3,104

a

9011573.SQ.FTS.B

,

5

.597

%

,

10/25/26

...

17,981

15,886

a

9011085.SQ.FTS.B

,

5

.598

%

,

10/25/26

...

52,568

50,121

a

9010254.SQ.FTS.B

,

5

.636

%

,

10/25/26

...

1,905

1,783

a

9010313.SQ.FTS.B

,

5

.912

%

,

10/25/26

...

1,365

1,315

a

9008313.SQ.FTS.B

,

6

.107

%

,

10/25/26

...

2,741

2,608

a

9008769.SQ.FTS.B

,

6

.417

%

,

10/25/26

...

684

631

a

9009927.SQ.FTS.B

,

6

.441

%

,

10/25/26

...

1,068

985

a

9007919.SQ.FTS.B

,

6

.442

%

,

10/25/26

...

2,661

2,546

a

9011685.SQ.FTS.B

,

6

.446

%

,

10/25/26

...

31,387

30,517

a

9010044.SQ.FTS.B

,

6

.45

%

,

10/25/26

....

1,802

1,559

a

9012498.SQ.FTS.B

,

4

.717

%

,

10/26/26

...

10,958

10,515

a

9012957.SQ.FTS.B

,

4

.717

%

,

10/26/26

...

31,698

29,499

a

9012625.SQ.FTS.B

,

4

.719

%

,

10/26/26

...

11,462

10,948

a

9012889.SQ.FTS.B

,

4

.719

%

,

10/26/26

...

7,755

7,395

a

9012720.SQ.FTS.B

,

4

.731

%

,

10/26/26

...

2,129

2,003

a

9012173.SQ.FTS.B

,

4

.939

%

,

10/26/26

...

3,221

3,055

a

9012213.SQ.FTS.B

,

5

.031

%

,

10/26/26

...

7,987

6,679

a

9012119.SQ.FTS.B

,

5

.034

%

,

10/26/26

...

5,024

4,786

a

9012417.SQ.FTS.B

,

5

.333

%

,

10/26/26

...

2,265

1,983

a

9012610.SQ.FTS.B

,

5

.351

%

,

10/26/26

...

1,797

1,730

a

9012393.SQ.FTS.B

,

5

.593

%

,

10/26/26

...

2,400

2,202

a

9012747.SQ.FTS.B

,

5

.596

%

,

10/26/26

...

16,109

14,865

a

9012452.SQ.FTS.B

,

6

.107

%

,

10/26/26

...

3,912

2,764

a

9012435.SQ.FTS.B

,

6

.114

%

,

10/26/26

...

1,826

1,681

a

9012381.SQ.FTS.B

,

6

.289

%

,

10/26/26

...

1,210

941

a

9012373.SQ.FTS.B

,

6

.44

%

,

10/26/26

....

1,039

969

a

9012282.SQ.FTS.B

,

6

.444

%

,

10/26/26

...

8,719

8,219

a

9013505.SQ.FTS.B

,

4

.717

%

,

10/27/26

...

708

683

a

9013355.SQ.FTS.B

,

4

.719

%

,

10/27/26

...

13,430

12,871

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

9013285.SQ.FTS.B

,

4

.721

%

,

10/27/26

...

$

4,018

$

3,840

a

9013472.SQ.FTS.B

,

4

.722

%

,

10/27/26

...

5,288

5,074

a

9013520.SQ.FTS.B

,

5

.023

%

,

10/27/26

...

2,953

2,769

a

9013646.SQ.FTS.B

,

5

.031

%

,

10/27/26

...

35,327

33,644

a

9013264.SQ.FTS.B

,

6

.295

%

,

10/27/26

...

2,077

1,662

a

9013547.SQ.FTS.B

,

6

.448

%

,

10/27/26

...

11,489

10,268

a

9013246.SQ.FTS.B

,

6

.469

%

,

10/27/26

...

1,344

1,205

a

9014758.SQ.FTS.B

,

4

.715

%

,

10/28/26

...

7,433

6,948

a

9016660.SQ.FTS.B

,

4

.717

%

,

10/28/26

...

8,372

8,022

a

9018821.SQ.FTS.B

,

4

.717

%

,

10/28/26

...

5,202

4,496

a

9019254.SQ.FTS.B

,

4

.717

%

,

10/28/26

...

3,447

3,306

a

9019328.SQ.FTS.B

,

4

.717

%

,

10/28/26

...

9,654

9,232

a

9016375.SQ.FTS.B

,

4

.72

%

,

10/28/26

....

11,254

10,784

a

9016301.SQ.FTS.B

,

4

.738

%

,

10/28/26

...

1,321

1,269

a

9016321.SQ.FTS.B

,

5

.024

%

,

10/28/26

...

1,701

1,567

a

9018676.SQ.FTS.B

,

5

.344

%

,

10/28/26

...

6,163

5,863

a

9014962.SQ.FTS.B

,

5

.59

%

,

10/28/26

....

1,652

1,522

a

9016602.SQ.FTS.B

,

5

.593

%

,

10/28/26

...

2,213

2,108

a

9019576.SQ.FTS.B

,

5

.911

%

,

10/28/26

...

8,966

8,564

a

9018248.SQ.FTS.B

,

5

.912

%

,

10/28/26

...

19,081

17,837

a

9019308.SQ.FTS.B

,

6

.089

%

,

10/28/26

...

1,163

1,099

a

9018977.SQ.FTS.B

,

6

.101

%

,

10/28/26

...

12,530

11,482

a

9019134.SQ.FTS.B

,

6

.289

%

,

10/28/26

...

3,441

3,317

a

9018951.SQ.FTS.B

,

6

.438

%

,

10/28/26

...

1,831

1,589

a

9018203.SQ.FTS.B

,

6

.443

%

,

10/28/26

...

3,987

3,770

a

9018602.SQ.FTS.B

,

6

.452

%

,

10/28/26

...

1,619

1,519

a

9022224.SQ.FTS.B

,

4

.717

%

,

10/29/26

...

53,804

51,674

a

9023046.SQ.FTS.B

,

4

.717

%

,

10/29/26

...

6,095

5,855

a

9019968.SQ.FTS.B

,

4

.719

%

,

10/29/26

...

3,314

3,175

a

9024093.SQ.FTS.B

,

4

.719

%

,

10/29/26

...

18,783

18,021

a

9024435.SQ.FTS.B

,

4

.719

%

,

10/29/26

...

17,771

16,915

a

9023258.SQ.FTS.B

,

4

.72

%

,

10/29/26

....

9,867

9,460

a

9019933.SQ.FTS.B

,

4

.721

%

,

10/29/26

...

6,991

6,631

a

9021416.SQ.FTS.B

,

4

.956

%

,

10/29/26

...

398

366

a

9023743.SQ.FTS.B

,

5

.029

%

,

10/29/26

...

5,703

5,330

a

9021066.SQ.FTS.B

,

5

.031

%

,

10/29/26

...

17,571

16,942

a

9022850.SQ.FTS.B

,

5

.031

%

,

10/29/26

...

14,638

14,081

a

9023881.SQ.FTS.B

,

5

.031

%

,

10/29/26

...

14,280

13,739

a

9024352.SQ.FTS.B

,

5

.031

%

,

10/29/26

...

1,429

1,372

a

9022157.SQ.FTS.B

,

5

.344

%

,

10/29/26

...

6,743

6,456

a

9024053.SQ.FTS.B

,

5

.596

%

,

10/29/26

...

2,759

2,521

a

9023191.SQ.FTS.B

,

5

.597

%

,

10/29/26

...

5,272

5,092

a

9023803.SQ.FTS.B

,

5

.602

%

,

10/29/26

...

4,732

4,449

a

9023417.SQ.FTS.B

,

5

.634

%

,

10/29/26

...

1,742

1,649

a

9019994.SQ.FTS.B

,

5

.912

%

,

10/29/26

...

41,108

39,613

a

9023441.SQ.FTS.B

,

5

.912

%

,

10/29/26

...

28,223

26,033

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

81

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

9021446.SQ.FTS.B

,

6

.101

%

,

10/29/26

...

$

59,416

$

56,041

a

9023142.SQ.FTS.B

,

6

.103

%

,

10/29/26

...

2,248

2,171

a

9024368.SQ.FTS.B

,

6

.286

%

,

10/29/26

...

1,505

1,451

a

9019903.SQ.FTS.B

,

6

.44

%

,

10/29/26

....

1,927

1,852

a

9024623.SQ.FTS.B

,

6

.445

%

,

10/29/26

...

9,459

9,114

a

9024032.SQ.FTS.B

,

6

.45

%

,

10/29/26

....

2,487

2,168

a

9023090.SQ.FTS.B

,

6

.451

%

,

10/29/26

...

3,600

3,446

a

9021423.SQ.FTS.B

,

6

.455

%

,

10/29/26

...

1,444

1,358

a

9027548.SQ.FTS.B

,

4

.712

%

,

10/30/26

...

5,233

5,001

a

9027074.SQ.FTS.B

,

4

.715

%

,

10/30/26

...

9,488

9,098

a

9025056.SQ.FTS.B

,

4

.717

%

,

10/30/26

...

4,636

4,430

a

9026836.SQ.FTS.B

,

4

.717

%

,

10/30/26

...

14,617

13,878

a

9027214.SQ.FTS.B

,

4

.717

%

,

10/30/26

...

13,574

13,021

a

9027350.SQ.FTS.B

,

4

.717

%

,

10/30/26

...

967

926

a

9028172.SQ.FTS.B

,

4

.717

%

,

10/30/26

...

6,539

6,272

a

9028516.SQ.FTS.B

,

4

.717

%

,

10/30/26

...

68,816

65,735

a

9026703.SQ.FTS.B

,

4

.72

%

,

10/30/26

....

10,268

9,827

a

9026606.SQ.FTS.B

,

4

.721

%

,

10/30/26

...

7,808

7,488

a

9027666.SQ.FTS.B

,

4

.725

%

,

10/30/26

...

3,387

3,249

a

9024985.SQ.FTS.B

,

4

.73

%

,

10/30/26

....

2,174

2,089

a

9026276.SQ.FTS.B

,

5

.031

%

,

10/30/26

...

24,473

23,543

a

9027363.SQ.FTS.B

,

5

.031

%

,

10/30/26

...

7,827

7,535

a

9027676.SQ.FTS.B

,

5

.346

%

,

10/30/26

...

47,193

44,539

a

9027639.SQ.FTS.B

,

5

.351

%

,

10/30/26

...

5,993

5,681

a

9026138.SQ.FTS.B

,

5

.594

%

,

10/30/26

...

4,942

4,549

a

9025162.SQ.FTS.B

,

5

.596

%

,

10/30/26

...

9,099

8,500

a

9026259.SQ.FTS.B

,

5

.597

%

,

10/30/26

...

1,726

1,656

a

9026051.SQ.FTS.B

,

5

.912

%

,

10/30/26

...

4,365

4,196

a

9026229.SQ.FTS.B

,

5

.921

%

,

10/30/26

...

2,805

2,230

a

9027170.SQ.FTS.B

,

6

.097

%

,

10/30/26

...

2,559

2,461

a

9025952.SQ.FTS.B

,

6

.101

%

,

10/30/26

...

4,585

4,241

a

9027428.SQ.FTS.B

,

6

.102

%

,

10/30/26

...

12,120

11,677

a

9026201.SQ.FTS.B

,

6

.103

%

,

10/30/26

...

1,125

1,046

a

9025330.SQ.FTS.B

,

6

.104

%

,

10/30/26

...

6,202

5,765

a

9027610.SQ.FTS.B

,

6

.11

%

,

10/30/26

....

2,779

2,676

a

9028492.SQ.FTS.B

,

6

.281

%

,

10/30/26

...

2,197

2,105

a

9024818.SQ.FTS.B

,

6

.289

%

,

10/30/26

...

6,946

6,236

a

9025492.SQ.FTS.B

,

6

.289

%

,

10/30/26

...

12,242

11,875

a

9028348.SQ.FTS.B

,

6

.289

%

,

10/30/26

...

3,097

2,905

a

9028403.SQ.FTS.B

,

6

.289

%

,

10/30/26

...

4,685

4,472

a

9028262.SQ.FTS.B

,

6

.295

%

,

10/30/26

...

2,007

1,960

a

9028321.SQ.FTS.B

,

6

.453

%

,

10/30/26

...

1,991

1,841

a

9027592.SQ.FTS.B

,

6

.466

%

,

10/30/26

...

1,569

1,373

a

9027341.SQ.FTS.B

,

6

.478

%

,

10/30/26

...

949

846

a

9032074.SQ.FTS.B

,

4

.717

%

,

11/01/26

...

24,047

23,007

a

9035268.SQ.FTS.B

,

4

.717

%

,

11/01/26

...

14,913

14,175

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

9036715.SQ.FTS.B

,

4

.717

%

,

11/01/26

...

$

49,462

$

47,485

a

9035121.SQ.FTS.B

,

4

.718

%

,

11/01/26

...

2,461

2,351

a

9033361.SQ.FTS.B

,

4

.719

%

,

11/01/26

...

19,206

18,299

a

9033658.SQ.FTS.B

,

5

.031

%

,

11/01/26

...

90,209

86,715

a

9035082.SQ.FTS.B

,

5

.344

%

,

11/01/26

...

2,603

2,502

a

9032745.SQ.FTS.B

,

5

.346

%

,

11/01/26

...

32,818

31,068

a

9032474.SQ.FTS.B

,

5

.597

%

,

11/01/26

...

14,886

14,192

a

9035177.SQ.FTS.B

,

5

.603

%

,

11/01/26

...

5,007

4,779

a

9033330.SQ.FTS.B

,

5

.604

%

,

11/01/26

...

1,858

1,771

a

9034886.SQ.FTS.B

,

5

.91

%

,

11/01/26

....

6,019

5,734

a

9034948.SQ.FTS.B

,

5

.914

%

,

11/01/26

...

9,723

9,125

a

9033629.SQ.FTS.B

,

6

.096

%

,

11/01/26

...

1,036

991

a

9035669.SQ.FTS.B

,

6

.101

%

,

11/01/26

...

24,434

23,473

a

9033616.SQ.FTS.B

,

6

.116

%

,

11/01/26

...

1,012

953

a

9034762.SQ.FTS.B

,

6

.445

%

,

11/01/26

...

7,449

7,163

a

9032029.SQ.FTS.B

,

6

.447

%

,

11/01/26

...

1,725

1,651

a

9035428.SQ.FTS.B

,

6

.447

%

,

11/01/26

...

18,765

18,074

a

9036438.SQ.FTS.B

,

6

.447

%

,

11/01/26

...

18,630

17,857

a

9034747.SQ.FTS.B

,

6

.457

%

,

11/01/26

...

1,768

1,696

a

9040087.SQ.FTS.B

,

4

.717

%

,

11/02/26

...

12,284

11,704

a

9040176.SQ.FTS.B

,

4

.717

%

,

11/02/26

...

46,237

44,272

a

9038483.SQ.FTS.B

,

4

.718

%

,

11/02/26

...

20,755

19,525

a

9038889.SQ.FTS.B

,

4

.719

%

,

11/02/26

...

6,623

5,837

a

9037054.SQ.FTS.B

,

4

.738

%

,

11/02/26

...

1,397

1,330

a

9038969.SQ.FTS.B

,

5

.031

%

,

11/02/26

...

9,222

8,820

a

9037875.SQ.FTS.B

,

5

.346

%

,

11/02/26

...

21,685

20,710

a

9040633.SQ.FTS.B

,

5

.593

%

,

11/02/26

...

2,187

2,110

a

9036939.SQ.FTS.B

,

5

.601

%

,

11/02/26

...

7,663

7,354

a

9039145.SQ.FTS.B

,

5

.632

%

,

11/02/26

...

3,179

2,878

a

9037086.SQ.FTS.B

,

6

.101

%

,

11/02/26

...

17,258

16,501

a

9039257.SQ.FTS.B

,

6

.101

%

,

11/02/26

...

18,737

17,477

a

9039481.SQ.FTS.B

,

6

.101

%

,

11/02/26

...

39,427

37,179

a

9040694.SQ.FTS.B

,

6

.101

%

,

11/02/26

...

52,478

47,763

a

9041336.SQ.FTS.B

,

6

.44

%

,

11/02/26

....

2,136

2,045

a

9037429.SQ.FTS.B

,

6

.447

%

,

11/02/26

...

19,413

18,284

a

9041665.SQ.FTS.B

,

4

.717

%

,

11/03/26

...

10,684

10,226

a

9042171.SQ.FTS.B

,

4

.717

%

,

11/03/26

...

6,564

6,285

a

9041898.SQ.FTS.B

,

4

.72

%

,

11/03/26

....

10,648

10,193

a

9042105.SQ.FTS.B

,

4

.932

%

,

11/03/26

...

5,258

4,820

a

9041371.SQ.FTS.B

,

4

.946

%

,

11/03/26

...

1,253

981

a

9042280.SQ.FTS.B

,

5

.031

%

,

11/03/26

...

6,524

6,132

a

9042059.SQ.FTS.B

,

5

.342

%

,

11/03/26

...

4,206

4,007

a

9041851.SQ.FTS.B

,

5

.347

%

,

11/03/26

...

4,708

4,520

a

9042037.SQ.FTS.B

,

6

.084

%

,

11/03/26

...

1,555

1,399

a

9041385.SQ.FTS.B

,

6

.101

%

,

11/03/26

...

27,458

25,798

a

9042240.SQ.FTS.B

,

6

.108

%

,

11/03/26

...

4,277

3,951

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

82

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

9041769.SQ.FTS.B

,

6

.298

%

,

11/03/26

...

$

1,120

$

1,046

a

9042024.SQ.FTS.B

,

6

.44

%

,

11/03/26

....

1,028

952

a

9041789.SQ.FTS.B

,

6

.442

%

,

11/03/26

...

4,568

4,386

a

9042012.SQ.FTS.B

,

6

.454

%

,

11/03/26

...

1,151

598

a

9042377.SQ.FTS.B

,

6

.455

%

,

11/03/26

...

2,258

2,134

a

9042441.SQ.FTS.B

,

4

.71

%

,

11/04/26

....

3,654

3,498

a

9043286.SQ.FTS.B

,

4

.715

%

,

11/04/26

...

4,631

4,336

a

9042891.SQ.FTS.B

,

4

.717

%

,

11/04/26

...

28,239

26,429

a

9043324.SQ.FTS.B

,

4

.717

%

,

11/04/26

...

17,737

17,016

a

9042596.SQ.FTS.B

,

4

.718

%

,

11/04/26

...

12,101

11,561

a

9042763.SQ.FTS.B

,

4

.72

%

,

11/04/26

....

10,840

10,387

a

9042522.SQ.FTS.B

,

5

.029

%

,

11/04/26

...

6,016

5,647

a

9042731.SQ.FTS.B

,

5

.031

%

,

11/04/26

...

664

640

a

9042486.SQ.FTS.B

,

5

.606

%

,

11/04/26

...

3,155

3,018

a

9042742.SQ.FTS.B

,

5

.909

%

,

11/04/26

...

2,702

2,541

a

9043160.SQ.FTS.B

,

6

.1

%

,

11/04/26

.....

9,107

8,563

a

9042581.SQ.FTS.B

,

6

.102

%

,

11/04/26

...

1,088

1,020

a

9045500.SQ.FTS.B

,

4

.717

%

,

11/05/26

...

11,129

10,397

a

9046420.SQ.FTS.B

,

4

.717

%

,

11/05/26

...

24,425

23,209

a

9047025.SQ.FTS.B

,

4

.717

%

,

11/05/26

...

6,260

5,998

a

9048084.SQ.FTS.B

,

4

.717

%

,

11/05/26

...

10,748

9,715

a

9047177.SQ.FTS.B

,

4

.718

%

,

11/05/26

...

38,564

36,637

a

9044325.SQ.FTS.B

,

4

.719

%

,

11/05/26

...

7,000

6,582

a

9044523.SQ.FTS.B

,

4

.722

%

,

11/05/26

...

4,991

4,668

a

9047603.SQ.FTS.B

,

4

.726

%

,

11/05/26

...

3,224

3,044

a

9044810.SQ.FTS.B

,

4

.728

%

,

11/05/26

...

1,968

1,880

a

9044854.SQ.FTS.B

,

4

.94

%

,

11/05/26

....

1,200

1,150

a

9048030.SQ.FTS.B

,

4

.952

%

,

11/05/26

...

1,118

777

a

9047641.SQ.FTS.B

,

4

.956

%

,

11/05/26

...

1,070

932

a

9044402.SQ.FTS.B

,

5

.031

%

,

11/05/26

...

17,128

16,476

a

9045040.SQ.FTS.B

,

5

.031

%

,

11/05/26

...

2,250

1,962

a

9045641.SQ.FTS.B

,

5

.031

%

,

11/05/26

...

22,930

21,841

a

9048220.SQ.FTS.B

,

5

.031

%

,

11/05/26

...

18,768

17,919

a

9044881.SQ.FTS.B

,

5

.036

%

,

11/05/26

...

5,365

5,156

a

9048185.SQ.FTS.B

,

5

.351

%

,

11/05/26

...

2,988

2,851

a

9044383.SQ.FTS.B

,

5

.589

%

,

11/05/26

...

1,210

1,165

a

9048170.SQ.FTS.B

,

5

.597

%

,

11/05/26

...

849

778

a

9046727.SQ.FTS.B

,

5

.599

%

,

11/05/26

...

18,734

17,618

a

9048487.SQ.FTS.B

,

5

.632

%

,

11/05/26

...

4,798

4,399

a

9046061.SQ.FTS.B

,

5

.91

%

,

11/05/26

....

11,467

10,848

a

9046950.SQ.FTS.B

,

5

.911

%

,

11/05/26

...

3,401

3,245

a

9046237.SQ.FTS.B

,

6

.101

%

,

11/05/26

...

6,785

6,578

a

9047094.SQ.FTS.B

,

6

.101

%

,

11/05/26

...

4,611

4,384

a

9048063.SQ.FTS.B

,

6

.107

%

,

11/05/26

...

2,658

2,572

a

9047651.SQ.FTS.B

,

6

.289

%

,

11/05/26

...

5,335

5,029

a

9047743.SQ.FTS.B

,

6

.446

%

,

11/05/26

...

15,315

14,529

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

9045086.SQ.FTS.B

,

6

.448

%

,

11/05/26

...

$

27,357

$

17,652

a

9047990.SQ.FTS.B

,

6

.449

%

,

11/05/26

...

3,273

3,112

a

9047973.SQ.FTS.B

,

6

.453

%

,

11/05/26

...

836

811

a

9052710.SQ.FTS.B

,

4

.705

%

,

11/06/26

...

2,238

2,138

a

9052543.SQ.FTS.B

,

4

.714

%

,

11/06/26

...

4,119

3,946

a

9049716.SQ.FTS.B

,

4

.717

%

,

11/06/26

...

6,493

6,203

a

9049870.SQ.FTS.B

,

4

.717

%

,

11/06/26

...

13,109

12,561

a

9050109.SQ.FTS.B

,

4

.717

%

,

11/06/26

...

26,873

25,316

a

9050718.SQ.FTS.B

,

4

.717

%

,

11/06/26

...

4,951

4,731

a

9048839.SQ.FTS.B

,

4

.719

%

,

11/06/26

...

6,640

5,254

a

9050459.SQ.FTS.B

,

4

.719

%

,

11/06/26

...

6,969

6,665

a

9051681.SQ.FTS.B

,

4

.721

%

,

11/06/26

...

9,228

8,237

a

9051118.SQ.FTS.B

,

4

.722

%

,

11/06/26

....

4,832

4,583

a

9048764.SQ.FTS.B

,

4

.73

%

,

11/06/26

....

2,457

2,347

a

9052402.SQ.FTS.B

,

4

.931

%

,

11/06/26

...

2,554

2,345

a

9051813.SQ.FTS.B

,

5

.031

%

,

11/06/26

...

23,332

22,257

a

9051976.SQ.FTS.B

,

5

.031

%

,

11/06/26

...

29,333

27,722

a

9052431.SQ.FTS.B

,

5

.031

%

,

11/06/26

...

8,552

8,193

a

9052740.SQ.FTS.B

,

5

.031

%

,

11/06/26

...

62,594

59,699

a

9049054.SQ.FTS.B

,

5

.344

%

,

11/06/26

...

7,591

7,231

a

9052581.SQ.FTS.B

,

5

.346

%

,

11/06/26

...

12,178

10,707

a

9049293.SQ.FTS.B

,

5

.593

%

,

11/06/26

...

5,839

4,888

a

9050809.SQ.FTS.B

,

5

.598

%

,

11/06/26

...

24,692

22,410

a

9051508.SQ.FTS.B

,

5

.598

%

,

11/06/26

...

18,098

17,372

a

9051669.SQ.FTS.B

,

6

.093

%

,

11/06/26

...

878

850

a

9051352.SQ.FTS.B

,

6

.101

%

,

11/06/26

...

1,543

1,487

a

9051153.SQ.FTS.B

,

6

.102

%

,

11/06/26

...

15,700

15,148

a

9050599.SQ.FTS.B

,

6

.289

%

,

11/06/26

...

4,956

4,792

a

9049543.SQ.FTS.B

,

6

.292

%

,

11/06/26

...

3,618

3,422

a

9049007.SQ.FTS.B

,

6

.434

%

,

11/06/26

...

1,622

1,557

a

9049511.SQ.FTS.B

,

6

.434

%

,

11/06/26

...

1,158

1,086

a

9049705.SQ.FTS.B

,

6

.434

%

,

11/06/26

...

1,098

1,050

a

9051379.SQ.FTS.B

,

6

.448

%

,

11/06/26

...

3,829

3,644

a

9050084.SQ.FTS.B

,

6

.455

%

,

11/06/26

...

1,889

1,708

a

9049836.SQ.FTS.B

,

6

.457

%

,

11/06/26

...

852

796

a

9053714.SQ.FTS.B

,

4

.717

%

,

11/07/26

...

8,925

8,519

a

9054596.SQ.FTS.B

,

4

.717

%

,

11/07/26

...

30,376

29,115

a

9055197.SQ.FTS.B

,

4

.717

%

,

11/07/26

...

9,783

9,364

a

9055981.SQ.FTS.B

,

4

.717

%

,

11/07/26

...

6,889

6,532

a

9056795.SQ.FTS.B

,

4

.717

%

,

11/07/26

...

7,700

7,370

a

9054526.SQ.FTS.B

,

4

.719

%

,

11/07/26

...

6,311

6,044

a

9055355.SQ.FTS.B

,

4

.719

%

,

11/07/26

...

19,442

18,607

a

9055086.SQ.FTS.B

,

4

.728

%

,

11/07/26

...

2,702

2,589

a

9054359.SQ.FTS.B

,

4

.735

%

,

11/07/26

...

1,647

1,576

a

9056031.SQ.FTS.B

,

4

.937

%

,

11/07/26

...

4,158

3,911

a

9053578.SQ.FTS.B

,

5

.031

%

,

11/07/26

...

6,149

5,848

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

83

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

9053959.SQ.FTS.B

,

5

.031

%

,

11/07/26

...

$

8,680

$

8,141

a

9055123.SQ.FTS.B

,

5

.031

%

,

11/07/26

...

4,037

3,882

a

9056192.SQ.FTS.B

,

5

.031

%

,

11/07/26

...

50,706

48,473

a

9056928.SQ.FTS.B

,

5

.031

%

,

11/07/26

...

13,315

12,729

a

9056162.SQ.FTS.B

,

5

.042

%

,

11/07/26

...

2,405

2,308

a

9054492.SQ.FTS.B

,

5

.362

%

,

11/07/26

...

1,785

1,692

a

9057169.SQ.FTS.B

,

5

.364

%

,

11/07/26

...

1,569

1,503

a

9053479.SQ.FTS.B

,

5

.593

%

,

11/07/26

...

2,571

2,481

a

9055796.SQ.FTS.B

,

5

.597

%

,

11/07/26

...

14,560

13,955

a

9054200.SQ.FTS.B

,

5

.598

%

,

11/07/26

...

5,434

4,964

a

9057372.SQ.FTS.B

,

5

.598

%

,

11/07/26

...

50,965

48,442

a

9055663.SQ.FTS.B

,

5

.643

%

,

11/07/26

...

1,647

1,466

a

9055658.SQ.FTS.B

,

5

.66

%

,

11/07/26

....

372

360

a

9056079.SQ.FTS.B

,

5

.912

%

,

11/07/26

...

8,408

7,910

a

9053207.SQ.FTS.B

,

5

.913

%

,

11/07/26

...

5,421

5,207

a

9054395.SQ.FTS.B

,

5

.913

%

,

11/07/26

...

4,366

4,108

a

9055928.SQ.FTS.B

,

5

.913

%

,

11/07/26

...

4,233

3,874

a

9057321.SQ.FTS.B

,

6

.101

%

,

11/07/26

...

4,591

4,341

a

9053423.SQ.FTS.B

,

6

.106

%

,

11/07/26

...

2,579

2,417

a

9057365.SQ.FTS.B

,

6

.28

%

,

11/07/26

....

758

729

a

9053569.SQ.FTS.B

,

6

.319

%

,

11/07/26

...

708

670

a

9054150.SQ.FTS.B

,

6

.436

%

,

11/07/26

...

1,683

856

a

9055678.SQ.FTS.B

,

6

.447

%

,

11/07/26

...

9,462

8,847

a

9057047.SQ.FTS.B

,

6

.447

%

,

11/07/26

...

9,212

8,574

a

9057193.SQ.FTS.B

,

6

.447

%

,

11/07/26

...

11,321

10,609

a

9056667.SQ.FTS.B

,

6

.449

%

,

11/07/26

...

9,248

8,845

a

9053326.SQ.FTS.B

,

6

.451

%

,

11/07/26

...

2,360

2,254

a

9056188.SQ.FTS.B

,

6

.453

%

,

11/07/26

...

1,243

865

a

9060471.SQ.FTS.B

,

4

.715

%

,

11/08/26

...

6,999

6,650

a

9062177.SQ.FTS.B

,

4

.715

%

,

11/08/26

...

6,582

6,296

a

9063145.SQ.FTS.B

,

4

.717

%

,

11/08/26

...

7,454

6,639

a

9063227.SQ.FTS.B

,

4

.717

%

,

11/08/26

...

9,339

8,953

a

9062565.SQ.FTS.B

,

4

.718

%

,

11/08/26

...

35,321

33,500

a

9061105.SQ.FTS.B

,

4

.721

%

,

11/08/26

...

6,951

6,645

a

9064146.SQ.FTS.B

,

4

.939

%

,

11/08/26

...

3,275

3,043

a

9060437.SQ.FTS.B

,

4

.944

%

,

11/08/26

...

1,216

1,129

a

9061844.SQ.FTS.B

,

4

.946

%

,

11/08/26

...

991

943

a

9061891.SQ.FTS.B

,

4

.972

%

,

11/08/26

...

658

455

a

9062028.SQ.FTS.B

,

5

.031

%

,

11/08/26

...

12,581

11,107

a

9064251.SQ.FTS.B

,

5

.031

%

,

11/08/26

...

11,989

11,488

a

9061310.SQ.FTS.B

,

5

.34

%

,

11/08/26

....

2,639

2,507

a

9062399.SQ.FTS.B

,

5

.346

%

,

11/08/26

...

2,946

2,763

a

9061366.SQ.FTS.B

,

5

.598

%

,

11/08/26

...

25,837

24,406

a

9060622.SQ.FTS.B

,

5

.628

%

,

11/08/26

...

3,135

2,910

a

9063342.SQ.FTS.B

,

5

.628

%

,

11/08/26

...

26,096

25,118

a

9062475.SQ.FTS.B

,

5

.634

%

,

11/08/26

...

3,243

2,888

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

9064102.SQ.FTS.B

,

6

.084

%

,

11/08/26

...

$

1,397

$

1,345

a

9060546.SQ.FTS.B

,

6

.099

%

,

11/08/26

...

1,860

1,777

a

9060750.SQ.FTS.B

,

6

.099

%

,

11/08/26

...

5,602

4,980

a

9064407.SQ.FTS.B

,

6

.101

%

,

11/08/26

...

31,923

30,227

a

9060137.SQ.FTS.B

,

6

.104

%

,

11/08/26

...

5,611

5,222

a

9060869.SQ.FTS.B

,

6

.284

%

,

11/08/26

...

2,314

2,185

a

9061903.SQ.FTS.B

,

6

.289

%

,

11/08/26

...

4,326

4,193

a

9063853.SQ.FTS.B

,

6

.289

%

,

11/08/26

...

11,345

10,753

a

9064221.SQ.FTS.B

,

6

.439

%

,

11/08/26

...

2,013

1,923

a

9060256.SQ.FTS.B

,

6

.45

%

,

11/08/26

....

6,111

5,756

a

9060983.SQ.FTS.B

,

6

.451

%

,

11/08/26

...

4,393

3,871

a

9062289.SQ.FTS.B

,

6

.452

%

,

11/08/26

...

3,854

3,515

a

9061858.SQ.FTS.B

,

6

.453

%

,

11/08/26

...

3,611

3,339

a

9060395.SQ.FTS.B

,

6

.456

%

,

11/08/26

...

3,395

3,026

a

9060955.SQ.FTS.B

,

6

.478

%

,

11/08/26

...

780

735

a

9066532.SQ.FTS.B

,

4

.715

%

,

11/09/26

...

6,544

6,101

a

9066634.SQ.FTS.B

,

4

.717

%

,

11/09/26

...

9,859

9,423

a

9067602.SQ.FTS.B

,

4

.717

%

,

11/09/26

...

1,967

1,880

a

9068240.SQ.FTS.B

,

4

.717

%

,

11/09/26

...

69,792

66,803

a

9065706.SQ.FTS.B

,

4

.718

%

,

11/09/26

...

11,428

10,881

a

9067932.SQ.FTS.B

,

4

.719

%

,

11/09/26

...

8,475

8,088

a

9065141.SQ.FTS.B

,

4

.726

%

,

11/09/26

...

3,436

3,236

a

9065653.SQ.FTS.B

,

5

.031

%

,

11/09/26

...

4,486

4,239

a

9066243.SQ.FTS.B

,

5

.031

%

,

11/09/26

...

10,281

9,717

a

9067485.SQ.FTS.B

,

5

.031

%

,

11/09/26

...

3,125

2,540

a

9068177.SQ.FTS.B

,

5

.031

%

,

11/09/26

...

3,823

3,612

a

9065908.SQ.FTS.B

,

5

.035

%

,

11/09/26

...

6,144

5,805

a

9065039.SQ.FTS.B

,

5

.037

%

,

11/09/26

...

3,980

3,774

a

9069310.SQ.FTS.B

,

5

.348

%

,

11/09/26

...

16,765

15,724

a

9065236.SQ.FTS.B

,

5

.924

%

,

11/09/26

...

1,871

1,778

a

9066455.SQ.FTS.B

,

6

.289

%

,

11/09/26

...

3,606

3,337

a

9067591.SQ.FTS.B

,

6

.44

%

,

11/09/26

....

1,102

1,026

a

9067515.SQ.FTS.B

,

6

.443

%

,

11/09/26

...

4,263

3,191

a

9068071.SQ.FTS.B

,

6

.444

%

,

11/09/26

...

6,242

5,609

a

9065269.SQ.FTS.B

,

6

.447

%

,

11/09/26

...

24,098

19,313

a

9066810.SQ.FTS.B

,

6

.447

%

,

11/09/26

...

30,335

29,293

a

9067633.SQ.FTS.B

,

6

.448

%

,

11/09/26

...

19,555

18,662

a

9066098.SQ.FTS.B

,

6

.449

%

,

11/09/26

...

4,361

4,108

a

9071099.SQ.FTS.B

,

4

.717

%

,

11/10/26

...

7,065

6,757

a

9071286.SQ.FTS.B

,

4

.717

%

,

11/10/26

...

4,720

4,521

a

9071190.SQ.FTS.B

,

4

.722

%

,

11/10/26

...

6,490

6,131

a

9071236.SQ.FTS.B

,

5

.346

%

,

11/10/26

...

4,441

4,178

a

9070460.SQ.FTS.B

,

5

.598

%

,

11/10/26

...

60,209

57,026

a

9071179.SQ.FTS.B

,

5

.606

%

,

11/10/26

...

1,059

1,014

a

9071043.SQ.FTS.B

,

5

.66

%

,

11/10/26

....

242

230

a

9071058.SQ.FTS.B

,

6

.286

%

,

11/10/26

...

3,195

2,943

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

84

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

9071329.SQ.FTS.B

,

6

.289

%

,

11/10/26

...

$

8,313

$

7,938

a

9071046.SQ.FTS.B

,

6

.429

%

,

11/10/26

...

965

921

a

9071739.SQ.FTS.B

,

4

.717

%

,

11/11/26

...

21,824

20,906

a

9072124.SQ.FTS.B

,

4

.719

%

,

11/11/26

...

9,430

8,997

a

9071594.SQ.FTS.B

,

4

.938

%

,

11/11/26

...

10,035

9,282

a

9072003.SQ.FTS.B

,

5

.031

%

,

11/11/26

...

10,416

9,785

a

9072200.SQ.FTS.B

,

5

.031

%

,

11/11/26

...

2,824

2,711

a

9072100.SQ.FTS.B

,

5

.592

%

,

11/11/26

...

2,455

2,340

a

9071472.SQ.FTS.B

,

5

.631

%

,

11/11/26

...

5,245

5,078

a

9071710.SQ.FTS.B

,

5

.913

%

,

11/11/26

...

3,271

3,027

a

9072228.SQ.FTS.B

,

6

.1

%

,

11/11/26

.....

9,494

9,034

a

9071963.SQ.FTS.B

,

6

.102

%

,

11/11/26

...

2,071

1,990

a

9071538.SQ.FTS.B

,

6

.448

%

,

11/11/26

...

3,384

3,261

a

9075427.SQ.FTS.B

,

4

.716

%

,

11/12/26

...

3,721

3,559

a

9076086.SQ.FTS.B

,

4

.717

%

,

11/12/26

...

8,949

8,560

a

9076213.SQ.FTS.B

,

4

.717

%

,

11/12/26

...

11,528

11,044

a

9076464.SQ.FTS.B

,

4

.717

%

,

11/12/26

...

71,101

67,752

a

9074555.SQ.FTS.B

,

4

.721

%

,

11/12/26

...

8,712

8,294

a

9074982.SQ.FTS.B

,

4

.721

%

,

11/12/26

...

8,746

8,300

a

9076411.SQ.FTS.B

,

5

.027

%

,

11/12/26

...

2,806

2,696

a

9073605.SQ.FTS.B

,

5

.031

%

,

11/12/26

...

290

273

a

9074683.SQ.FTS.B

,

5

.031

%

,

11/12/26

...

24,570

23,618

a

9075924.SQ.FTS.B

,

5

.036

%

,

11/12/26

...

5,287

5,004

a

9076452.SQ.FTS.B

,

5

.037

%

,

11/12/26

...

2,220

2,027

a

9073615.SQ.FTS.B

,

5

.047

%

,

11/12/26

...

1,627

1,535

a

9075354.SQ.FTS.B

,

5

.595

%

,

11/12/26

...

9,295

8,802

a

9072377.SQ.FTS.B

,

5

.912

%

,

11/12/26

...

29,210

26,158

a

9075165.SQ.FTS.B

,

5

.912

%

,

11/12/26

...

2,358

2,252

a

9073079.SQ.FTS.B

,

6

.099

%

,

11/12/26

...

10,503

10,062

a

9074491.SQ.FTS.B

,

6

.101

%

,

11/12/26

...

3,582

3,441

a

9075496.SQ.FTS.B

,

6

.101

%

,

11/12/26

...

27,940

26,268

a

9072362.SQ.FTS.B

,

6

.289

%

,

11/12/26

...

1,511

1,314

a

9072849.SQ.FTS.B

,

6

.289

%

,

11/12/26

...

7,659

7,237

a

9073649.SQ.FTS.B

,

6

.289

%

,

11/12/26

...

1,518

1,471

a

9076700.SQ.FTS.B

,

6

.299

%

,

11/12/26

...

1,181

1,098

a

9075191.SQ.FTS.B

,

6

.437

%

,

11/12/26

...

1,446

1,332

a

9073019.SQ.FTS.B

,

6

.438

%

,

11/12/26

...

1,275

1,217

a

9076038.SQ.FTS.B

,

6

.442

%

,

11/12/26

...

2,454

2,310

a

9073723.SQ.FTS.B

,

6

.447

%

,

11/12/26

...

31,982

27,754

a

9075228.SQ.FTS.B

,

6

.447

%

,

11/12/26

...

3,835

3,711

a

9075449.SQ.FTS.B

,

6

.447

%

,

11/12/26

...

3,162

2,954

a

9073274.SQ.FTS.B

,

6

.448

%

,

11/12/26

...

17,252

16,736

a

9074203.SQ.FTS.B

,

6

.448

%

,

11/12/26

...

8,731

8,095

a

9074441.SQ.FTS.B

,

6

.456

%

,

11/12/26

...

2,126

1,986

a

9080421.SQ.FTS.B

,

4

.708

%

,

11/13/26

...

1,721

1,650

a

9080832.SQ.FTS.B

,

4

.715

%

,

11/13/26

...

5,180

4,851

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

9077395.SQ.FTS.B

,

4

.716

%

,

11/13/26

...

$

3,595

$

3,438

a

9077631.SQ.FTS.B

,

4

.717

%

,

11/13/26

...

12,795

11,430

a

9077953.SQ.FTS.B

,

4

.717

%

,

11/13/26

...

17,263

16,536

a

9080487.SQ.FTS.B

,

4

.717

%

,

11/13/26

...

13,791

12,986

a

9080714.SQ.FTS.B

,

4

.717

%

,

11/13/26

...

1,962

1,862

a

9081031.SQ.FTS.B

,

4

.723

%

,

11/13/26

...

3,886

3,715

a

9077070.SQ.FTS.B

,

4

.926

%

,

11/13/26

...

791

718

a

9080991.SQ.FTS.B

,

4

.932

%

,

11/13/26

...

2,323

2,204

a

9077097.SQ.FTS.B

,

4

.937

%

,

11/13/26

...

1,274

1,233

a

9080625.SQ.FTS.B

,

4

.942

%

,

11/13/26

...

2,303

2,142

a

9077212.SQ.FTS.B

,

4

.948

%

,

11/13/26

...

252

240

a

9080222.SQ.FTS.B

,

5

.022

%

,

11/13/26

...

2,810

2,685

a

9076788.SQ.FTS.B

,

5

.031

%

,

11/13/26

...

11,856

11,137

a

9078253.SQ.FTS.B

,

5

.031

%

,

11/13/26

...

10,045

9,657

a

9078368.SQ.FTS.B

,

5

.031

%

,

11/13/26

...

8,838

7,786

a

9079036.SQ.FTS.B

,

5

.031

%

,

11/13/26

...

2,371

2,280

a

9079360.SQ.FTS.B

,

5

.031

%

,

11/13/26

...

57,293

53,129

a

9081564.SQ.FTS.B

,

5

.031

%

,

11/13/26

...

36,418

34,862

a

9080906.SQ.FTS.B

,

5

.036

%

,

11/13/26

...

5,404

5,101

a

9079347.SQ.FTS.B

,

5

.038

%

,

11/13/26

...

1,918

1,837

a

9077259.SQ.FTS.B

,

5

.348

%

,

11/13/26

...

4,063

3,915

a

9079226.SQ.FTS.B

,

5

.6

%

,

11/13/26

.....

6,882

6,638

a

9080270.SQ.FTS.B

,

5

.627

%

,

11/13/26

...

7,598

6,879

a

9077238.SQ.FTS.B

,

5

.629

%

,

11/13/26

...

940

793

a

9080596.SQ.FTS.B

,

5

.906

%

,

11/13/26

...

2,379

2,185

a

9081096.SQ.FTS.B

,

5

.911

%

,

11/13/26

...

41,324

38,894

a

9080434.SQ.FTS.B

,

6

.294

%

,

11/13/26

...

2,163

1,916

a

9079100.SQ.FTS.B

,

6

.448

%

,

11/13/26

...

4,906

4,614

a

9080730.SQ.FTS.B

,

6

.455

%

,

11/13/26

...

2,701

2,578

a

9077607.SQ.FTS.B

,

6

.461

%

,

11/13/26

...

1,012

965

a

9077375.SQ.FTS.B

,

6

.472

%

,

11/13/26

...

1,034

977

a

9081776.SQ.FTS.B

,

4

.717

%

,

11/14/26

...

25,275

24,070

a

9083721.SQ.FTS.B

,

4

.717

%

,

11/14/26

...

42,045

40,017

a

9085432.SQ.FTS.B

,

4

.717

%

,

11/14/26

...

6,906

6,607

a

9082810.SQ.FTS.B

,

4

.718

%

,

11/14/26

...

10,937

10,479

a

9083110.SQ.FTS.B

,

5

.031

%

,

11/14/26

...

3,614

3,352

a

9084804.SQ.FTS.B

,

5

.031

%

,

11/14/26

...

1,564

1,506

a

9084167.SQ.FTS.B

,

5

.346

%

,

11/14/26

...

57,050

53,701

a

9085122.SQ.FTS.B

,

5

.346

%

,

11/14/26

...

36,458

34,446

a

9084999.SQ.FTS.B

,

5

.348

%

,

11/14/26

...

9,278

8,715

a

9085809.SQ.FTS.B

,

5

.596

%

,

11/14/26

...

13,718

13,183

a

9083077.SQ.FTS.B

,

5

.597

%

,

11/14/26

...

1,391

1,327

a

9082380.SQ.FTS.B

,

5

.598

%

,

11/14/26

...

3,746

3,542

a

9084817.SQ.FTS.B

,

5

.599

%

,

11/14/26

...

20,161

19,380

a

9085083.SQ.FTS.B

,

5

.627

%

,

11/14/26

...

2,138

1,289

a

9082495.SQ.FTS.B

,

5

.911

%

,

11/14/26

...

10,875

10,508

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

85

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

9085543.SQ.FTS.B

,

6

.099

%

,

11/14/26

...

$

13,323

$

12,690

a

9083172.SQ.FTS.B

,

6

.101

%

,

11/14/26

...

50,165

43,725

a

9081679.SQ.FTS.B

,

6

.45

%

,

11/14/26

....

4,857

4,616

a

9088529.SQ.FTS.B

,

4

.717

%

,

11/15/26

...

24,509

23,463

a

9089073.SQ.FTS.B

,

4

.717

%

,

11/15/26

...

24,480

23,372

a

9090106.SQ.FTS.B

,

4

.717

%

,

11/15/26

...

5,009

4,788

a

9090243.SQ.FTS.B

,

4

.717

%

,

11/15/26

...

9,555

8,949

a

9091714.SQ.FTS.B

,

4

.717

%

,

11/15/26

...

20,916

19,996

a

9091162.SQ.FTS.B

,

4

.718

%

,

11/15/26

...

31,341

29,432

a

9092037.SQ.FTS.B

,

4

.719

%

,

11/15/26

...

18,029

17,153

a

9090367.SQ.FTS.B

,

4

.72

%

,

11/15/26

....

9,235

8,712

a

9090639.SQ.FTS.B

,

4

.721

%

,

11/15/26

...

8,244

7,859

a

9091117.SQ.FTS.B

,

4

.721

%

,

11/15/26

....

6,337

5,950

a

9090092.SQ.FTS.B

,

4

.95

%

,

11/15/26

....

630

526

a

9089855.SQ.FTS.B

,

5

.031

%

,

11/15/26

...

8,211

7,908

a

9090756.SQ.FTS.B

,

5

.031

%

,

11/15/26

...

6,750

6,473

a

9092544.SQ.FTS.B

,

5

.031

%

,

11/15/26

...

15,065

14,420

a

9092280.SQ.FTS.B

,

5

.348

%

,

11/15/26

...

19,056

18,274

a

9090908.SQ.FTS.B

,

5

.911

%

,

11/15/26

...

21,063

19,996

a

9091507.SQ.FTS.B

,

5

.915

%

,

11/15/26

...

3,021

2,869

a

9089713.SQ.FTS.B

,

5

.916

%

,

11/15/26

...

5,510

5,176

a

9091526.SQ.FTS.B

,

6

.093

%

,

11/15/26

...

1,567

1,492

a

9091536.SQ.FTS.B

,

6

.101

%

,

11/15/26

...

14,528

14,065

a

9090598.SQ.FTS.B

,

6

.107

%

,

11/15/26

...

3,069

2,958

a

9090550.SQ.FTS.B

,

6

.286

%

,

11/15/26

...

3,684

3,210

a

9090037.SQ.FTS.B

,

6

.305

%

,

11/15/26

...

1,571

1,108

a

9090227.SQ.FTS.B

,

6

.451

%

,

11/15/26

...

1,987

1,458

a

9095962.SQ.FTS.B

,

4

.716

%

,

11/16/26

...

5,520

5,278

a

9093708.SQ.FTS.B

,

4

.717

%

,

11/16/26

...

5,873

5,620

a

9094132.SQ.FTS.B

,

4

.717

%

,

11/16/26

...

4,944

4,726

a

9093067.SQ.FTS.B

,

4

.72

%

,

11/16/26

....

10,932

10,264

a

9095759.SQ.FTS.B

,

4

.721

%

,

11/16/26

...

7,569

7,252

a

9093018.SQ.FTS.B

,

4

.97

%

,

11/16/26

....

590

542

a

9092824.SQ.FTS.B

,

5

.031

%

,

11/16/26

...

2,374

2,281

a

9093277.SQ.FTS.B

,

5

.031

%

,

11/16/26

...

1,547

1,330

a

9093340.SQ.FTS.B

,

5

.031

%

,

11/16/26

...

5,958

5,697

a

9095566.SQ.FTS.B

,

5

.346

%

,

11/16/26

...

3,544

3,398

a

9093900.SQ.FTS.B

,

5

.596

%

,

11/16/26

...

12,494

11,762

a

9095005.SQ.FTS.B

,

5

.599

%

,

11/16/26

...

17,950

17,136

a

9093306.SQ.FTS.B

,

5

.628

%

,

11/16/26

...

1,520

1,440

a

9095510.SQ.FTS.B

,

5

.633

%

,

11/16/26

...

1,892

1,791

a

9094763.SQ.FTS.B

,

5

.912

%

,

11/16/26

...

13,307

12,389

a

9092905.SQ.FTS.B

,

6

.091

%

,

11/16/26

...

889

843

a

9094204.SQ.FTS.B

,

6

.101

%

,

11/16/26

...

25,844

24,731

a

9096726.SQ.FTS.B

,

6

.101

%

,

11/16/26

...

34,551

31,051

a

9092935.SQ.FTS.B

,

6

.104

%

,

11/16/26

...

2,960

2,787

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

9093570.SQ.FTS.B

,

6

.108

%

,

11/16/26

...

$

4,399

$

4,027

a

9092894.SQ.FTS.B

,

6

.271

%

,

11/16/26

...

1,235

1,094

a

9097131.SQ.FTS.B

,

6

.28

%

,

11/16/26

....

2,997

2,111

a

9096025.SQ.FTS.B

,

6

.447

%

,

11/16/26

...

43,751

39,635

a

9095365.SQ.FTS.B

,

6

.448

%

,

11/16/26

...

9,559

9,095

a

9095706.SQ.FTS.B

,

6

.449

%

,

11/16/26

...

5,690

5,428

a

9095660.SQ.FTS.B

,

6

.45

%

,

11/16/26

....

1,471

1,415

a

9095903.SQ.FTS.B

,

6

.45

%

,

11/16/26

....

4,132

3,909

a

9093330.SQ.FTS.B

,

6

.474

%

,

11/16/26

...

1,112

1,053

a

9093029.SQ.FTS.B

,

6

.484

%

,

11/16/26

...

917

701

a

9098490.SQ.FTS.B

,

4

.71

%

,

11/17/26

....

3,859

3,683

a

9097852.SQ.FTS.B

,

4

.717

%

,

11/17/26

...

194

185

a

9098193.SQ.FTS.B

,

4

.717

%

,

11/17/26

...

12,561

11,989

a

9098087.SQ.FTS.B

,

4

.72

%

,

11/17/26

....

10,548

9,960

a

9097748.SQ.FTS.B

,

5

.031

%

,

11/17/26

...

10,036

9,497

a

9098317.SQ.FTS.B

,

5

.031

%

,

11/17/26

...

15,523

14,761

a

9098514.SQ.FTS.B

,

5

.031

%

,

11/17/26

...

1,957

1,878

a

9098528.SQ.FTS.B

,

5

.346

%

,

11/17/26

...

9,408

8,735

a

9097954.SQ.FTS.B

,

5

.353

%

,

11/17/26

...

1,919

1,805

a

9098466.SQ.FTS.B

,

5

.358

%

,

11/17/26

...

2,814

2,559

a

9097978.SQ.FTS.B

,

5

.6

%

,

11/17/26

.....

9,941

9,436

a

9098073.SQ.FTS.B

,

5

.605

%

,

11/17/26

...

1,852

1,637

a

9097946.SQ.FTS.B

,

5

.615

%

,

11/17/26

...

1,185

1,138

a

9098180.SQ.FTS.B

,

6

.097

%

,

11/17/26

...

1,253

1,199

a

9098637.SQ.FTS.B

,

6

.103

%

,

11/17/26

...

8,481

8,154

a

9098609.SQ.FTS.B

,

6

.105

%

,

11/17/26

...

3,931

3,656

a

9097855.SQ.FTS.B

,

6

.447

%

,

11/17/26

...

3,508

3,370

a

9097932.SQ.FTS.B

,

6

.447

%

,

11/17/26

...

1,086

1,037

a

9097840.SQ.FTS.B

,

6

.456

%

,

11/17/26

...

1,578

1,424

a

9098443.SQ.FTS.B

,

6

.461

%

,

11/17/26

...

2,129

1,963

a

9098812.SQ.FTS.B

,

4

.716

%

,

11/18/26

...

6,265

5,987

a

9099300.SQ.FTS.B

,

4

.72

%

,

11/18/26

....

4,387

4,114

a

9099365.SQ.FTS.B

,

5

.031

%

,

11/18/26

...

23,812

22,850

a

9098930.SQ.FTS.B

,

5

.348

%

,

11/18/26

...

6,695

6,380

a

9098873.SQ.FTS.B

,

5

.353

%

,

11/18/26

...

4,703

4,521

a

9099003.SQ.FTS.B

,

5

.912

%

,

11/18/26

...

31,862

28,512

a

9099329.SQ.FTS.B

,

5

.912

%

,

11/18/26

...

2,608

2,487

a

9099358.SQ.FTS.B

,

6

.429

%

,

11/18/26

...

852

786

a

9098782.SQ.FTS.B

,

6

.447

%

,

11/18/26

...

2,605

2,459

a

9098719.SQ.FTS.B

,

6

.449

%

,

11/18/26

...

6,511

6,190

a

9101968.SQ.FTS.B

,

4

.713

%

,

11/19/26

...

4,505

4,249

a

9100939.SQ.FTS.B

,

4

.717

%

,

11/19/26

...

4,936

4,699

a

9101828.SQ.FTS.B

,

4

.717

%

,

11/19/26

...

9,156

8,745

a

9104177.SQ.FTS.B

,

4

.717

%

,

11/19/26

...

7,766

7,353

a

9101475.SQ.FTS.B

,

4

.718

%

,

11/19/26

...

10,308

9,863

a

9102789.SQ.FTS.B

,

4

.718

%

,

11/19/26

...

42,804

40,919

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

86

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

9100270.SQ.FTS.B

,

4

.725

%

,

11/19/26

...

$

2,923

$

2,796

a

9100892.SQ.FTS.B

,

4

.73

%

,

11/19/26

....

2,414

2,310

a

9100368.SQ.FTS.B

,

4

.93

%

,

11/19/26

....

3,273

3,102

a

9100769.SQ.FTS.B

,

4

.932

%

,

11/19/26

...

1,488

1,395

a

9103336.SQ.FTS.B

,

4

.936

%

,

11/19/26

...

4,172

3,914

a

9102552.SQ.FTS.B

,

4

.945

%

,

11/19/26

...

2,847

2,646

a

9100915.SQ.FTS.B

,

5

.031

%

,

11/19/26

...

1,268

1,209

a

9102003.SQ.FTS.B

,

5

.031

%

,

11/19/26

...

38,053

36,294

a

9102655.SQ.FTS.B

,

5

.031

%

,

11/19/26

...

8,539

8,005

a

9102613.SQ.FTS.B

,

5

.346

%

,

11/19/26

...

5,035

4,681

a

9100496.SQ.FTS.B

,

5

.625

%

,

11/19/26

...

6,165

5,858

a

9101918.SQ.FTS.B

,

5

.912

%

,

11/19/26

...

3,864

3,656

a

9101055.SQ.FTS.B

,

5

.915

%

,

11/19/26

...

3,665

3,479

a

9100678.SQ.FTS.B

,

6

.092

%

,

11/19/26

...

3,826

3,144

a

9101660.SQ.FTS.B

,

6

.099

%

,

11/19/26

...

8,307

7,941

a

9103471.SQ.FTS.B

,

6

.101

%

,

11/19/26

...

31,628

25,458

a

9100020.SQ.FTS.B

,

6

.102

%

,

11/19/26

...

6,640

5,153

a

9101027.SQ.FTS.B

,

6

.302

%

,

11/19/26

...

830

760

a

9103411.SQ.FTS.B

,

6

.443

%

,

11/19/26

...

2,263

2,168

a

9101128.SQ.FTS.B

,

6

.447

%

,

11/19/26

...

19,304

18,171

a

9101755.SQ.FTS.B

,

6

.447

%

,

11/19/26

...

5,128

4,846

a

9099846.SQ.FTS.B

,

6

.451

%

,

11/19/26

...

4,071

3,782

a

9100812.SQ.FTS.B

,

6

.454

%

,

11/19/26

...

3,616

3,459

a

9107106.SQ.FTS.B

,

4

.711

%

,

11/20/26

...

4,561

4,352

a

9107721.SQ.FTS.B

,

4

.715

%

,

11/20/26

...

10,099

9,660

a

9106834.SQ.FTS.B

,

4

.717

%

,

11/20/26

...

18,433

17,587

a

9107517.SQ.FTS.B

,

4

.717

%

,

11/20/26

...

14,889

14,207

a

9107384.SQ.FTS.B

,

4

.721

%

,

11/20/26

...

7,615

7,269

a

9105631.SQ.FTS.B

,

4

.722

%

,

11/20/26

...

6,486

6,177

a

9106785.SQ.FTS.B

,

4

.722

%

,

11/20/26

...

3,254

3,112

a

9108761.SQ.FTS.B

,

4

.722

%

,

11/20/26

...

5,724

5,471

a

9107448.SQ.FTS.B

,

4

.93

%

,

11/20/26

....

796

768

a

9106638.SQ.FTS.B

,

4

.944

%

,

11/20/26

...

3,068

2,488

a

9105200.SQ.FTS.B

,

5

.031

%

,

11/20/26

...

9,600

9,228

a

9106673.SQ.FTS.B

,

5

.031

%

,

11/20/26

...

9,293

8,127

a

9108528.SQ.FTS.B

,

5

.031

%

,

11/20/26

...

10,505

9,835

a

9107057.SQ.FTS.B

,

5

.337

%

,

11/20/26

...

2,725

2,558

a

9107271.SQ.FTS.B

,

5

.346

%

,

11/20/26

...

4,537

4,291

a

9104394.SQ.FTS.B

,

5

.357

%

,

11/20/26

...

2,289

2,165

a

9107320.SQ.FTS.B

,

5

.582

%

,

11/20/26

...

1,516

1,438

a

9104473.SQ.FTS.B

,

5

.598

%

,

11/20/26

...

21,665

20,242

a

9105728.SQ.FTS.B

,

5

.598

%

,

11/20/26

...

61,857

57,959

a

9107160.SQ.FTS.B

,

5

.912

%

,

11/20/26

...

9,806

9,364

a

9107814.SQ.FTS.B

,

6

.101

%

,

11/20/26

...

44,722

42,738

a

9107334.SQ.FTS.B

,

6

.289

%

,

11/20/26

...

4,814

4,467

a

9107464.SQ.FTS.B

,

6

.441

%

,

11/20/26

...

2,415

2,312

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

9105063.SQ.FTS.B

,

6

.444

%

,

11/20/26

...

$

3,283

$

3,070

a

9109305.SQ.FTS.B

,

4

.712

%

,

11/21/26

...

2,534

2,421

a

9112602.SQ.FTS.B

,

4

.715

%

,

11/21/26

...

10,536

10,066

a

9110080.SQ.FTS.B

,

4

.717

%

,

11/21/26

...

25,172

24,025

a

9110690.SQ.FTS.B

,

4

.717

%

,

11/21/26

...

36,071

34,473

a

9112990.SQ.FTS.B

,

4

.717

%

,

11/21/26

...

44,462

42,425

a

9109065.SQ.FTS.B

,

4

.719

%

,

11/21/26

...

8,839

8,435

a

9108864.SQ.FTS.B

,

4

.721

%

,

11/21/26

...

8,590

8,207

a

9112751.SQ.FTS.B

,

4

.722

%

,

11/21/26

...

6,363

6,087

a

9111289.SQ.FTS.B

,

5

.346

%

,

11/21/26

....

18,753

17,916

a

9112271.SQ.FTS.B

,

5

.596

%

,

11/21/26

...

12,993

12,541

a

9112878.SQ.FTS.B

,

5

.598

%

,

11/21/26

...

20,934

18,676

a

9112799.SQ.FTS.B

,

5

.6

%

,

11/21/26

.....

8,066

7,735

a

9112466.SQ.FTS.B

,

5

.91

%

,

11/21/26

....

8,140

7,673

a

9109567.SQ.FTS.B

,

6

.089

%

,

11/21/26

...

1,343

1,139

a

9111832.SQ.FTS.B

,

6

.1

%

,

11/21/26

.....

33,739

32,437

a

9109594.SQ.FTS.B

,

6

.101

%

,

11/21/26

...

15,061

14,447

a

9111691.SQ.FTS.B

,

6

.101

%

,

11/21/26

....

11,495

10,920

a

9110504.SQ.FTS.B

,

6

.104

%

,

11/21/26

...

10,178

9,139

a

9111644.SQ.FTS.B

,

6

.105

%

,

11/21/26

....

4,153

3,800

a

9111809.SQ.FTS.B

,

6

.114

%

,

11/21/26

....

1,995

1,876

a

9109345.SQ.FTS.B

,

6

.277

%

,

11/21/26

...

1,815

1,690

a

9111211.SQ.FTS.B

,

6

.289

%

,

11/21/26

....

6,339

5,708

a

9112734.SQ.FTS.B

,

6

.311

%

,

11/21/26

....

704

679

a

9111269.SQ.FTS.B

,

6

.438

%

,

11/21/26

....

1,753

1,617

a

9109377.SQ.FTS.B

,

6

.447

%

,

11/21/26

...

6,507

6,097

a

9110682.SQ.FTS.B

,

6

.453

%

,

11/21/26

...

1,109

1,025

a

9119239.SQ.FTS.B

,

4

.715

%

,

11/22/26

...

8,903

8,420

a

9117797.SQ.FTS.B

,

4

.717

%

,

11/22/26

...

4,159

3,963

a

9117923.SQ.FTS.B

,

4

.717

%

,

11/22/26

...

55,653

53,158

a

9120835.SQ.FTS.B

,

4

.717

%

,

11/22/26

...

9,174

8,628

a

9119328.SQ.FTS.B

,

4

.719

%

,

11/22/26

...

6,509

6,190

a

9120702.SQ.FTS.B

,

4

.72

%

,

11/22/26

....

5,495

5,223

a

9121919.SQ.FTS.B

,

4

.721

%

,

11/22/26

...

4,735

4,450

a

9120700.SQ.FTS.B

,

4

.956

%

,

11/22/26

...

567

526

a

9120364.SQ.FTS.B

,

5

.027

%

,

11/22/26

...

2,885

2,732

a

9121992.SQ.FTS.B

,

5

.029

%

,

11/22/26

...

5,448

5,080

a

9121013.SQ.FTS.B

,

5

.031

%

,

11/22/26

...

28,325

26,904

a

9117853.SQ.FTS.B

,

5

.341

%

,

11/22/26

...

3,897

3,704

a

9119107.SQ.FTS.B

,

5

.346

%

,

11/22/26

...

7,142

6,738

a

9122075.SQ.FTS.B

,

5

.349

%

,

11/22/26

...

9,687

9,190

a

9121716.SQ.FTS.B

,

5

.597

%

,

11/22/26

...

12,857

12,178

a

9122203.SQ.FTS.B

,

5

.599

%

,

11/22/26

...

7,077

6,667

a

9120420.SQ.FTS.B

,

5

.627

%

,

11/22/26

...

1,677

1,585

a

9119400.SQ.FTS.B

,

5

.912

%

,

11/22/26

...

59,072

55,536

a

9120449.SQ.FTS.B

,

5

.912

%

,

11/22/26

...

9,267

8,276

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

87

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

9120765.SQ.FTS.B

,

5

.912

%

,

11/22/26

...

$

2,002

$

1,894

a

9119219.SQ.FTS.B

,

6

.097

%

,

11/22/26

...

1,406

1,321

a

9122297.SQ.FTS.B

,

6

.1

%

,

11/22/26

.....

6,357

5,903

a

9121625.SQ.FTS.B

,

6

.289

%

,

11/22/26

...

9,012

8,522

a

9121588.SQ.FTS.B

,

6

.295

%

,

11/22/26

...

1,737

1,663

a

9121883.SQ.FTS.B

,

6

.301

%

,

11/22/26

...

1,987

1,861

a

9121515.SQ.FTS.B

,

6

.314

%

,

11/22/26

...

1,045

922

a

9121528.SQ.FTS.B

,

6

.445

%

,

11/22/26

...

6,129

5,314

a

9120300.SQ.FTS.B

,

6

.45

%

,

11/22/26

....

5,588

5,348

a

9121483.SQ.FTS.B

,

6

.452

%

,

11/22/26

...

4,393

3,934

a

9122989.SQ.FTS.B

,

4

.717

%

,

11/23/26

...

7,226

6,884

a

9123958.SQ.FTS.B

,

4

.717

%

,

11/23/26

...

9,048

8,551

a

9124194.SQ.FTS.B

,

4

.717

%

,

11/23/26

...

9,675

9,195

a

9125324.SQ.FTS.B

,

4

.717

%

,

11/23/26

...

34,007

32,503

a

9125861.SQ.FTS.B

,

4

.717

%

,

11/23/26

...

44,478

42,321

a

9126803.SQ.FTS.B

,

4

.717

%

,

11/23/26

...

3,129

2,987

a

9127058.SQ.FTS.B

,

4

.721

%

,

11/23/26

...

8,043

7,530

a

9126887.SQ.FTS.B

,

4

.724

%

,

11/23/26

...

3,341

3,181

a

9124156.SQ.FTS.B

,

4

.943

%

,

11/23/26

...

4,601

3,783

a

9124952.SQ.FTS.B

,

5

.341

%

,

11/23/26

...

4,380

4,145

a

9124186.SQ.FTS.B

,

5

.343

%

,

11/23/26

...

1,940

1,840

a

9123875.SQ.FTS.B

,

5

.344

%

,

11/23/26

...

4,426

4,160

a

9123272.SQ.FTS.B

,

5

.347

%

,

11/23/26

...

26,273

24,828

a

9122752.SQ.FTS.B

,

5

.348

%

,

11/23/26

...

8,433

8,052

a

9126471.SQ.FTS.B

,

5

.601

%

,

11/23/26

...

7,905

7,325

a

9126972.SQ.FTS.B

,

5

.639

%

,

11/23/26

...

2,906

2,761

a

9126609.SQ.FTS.B

,

5

.9

%

,

11/23/26

.....

1,695

1,627

a

9126835.SQ.FTS.B

,

5

.919

%

,

11/23/26

...

2,105

1,986

a

9125014.SQ.FTS.B

,

6

.096

%

,

11/23/26

...

7,436

6,714

a

9124448.SQ.FTS.B

,

6

.103

%

,

11/23/26

...

8,375

7,925

a

9122687.SQ.FTS.B

,

6

.11

%

,

11/23/26

....

2,752

2,547

a

9123143.SQ.FTS.B

,

6

.289

%

,

11/23/26

...

2,320

1,799

a

9125276.SQ.FTS.B

,

6

.289

%

,

11/23/26

...

1,243

1,174

a

9123173.SQ.FTS.B

,

6

.442

%

,

11/23/26

...

3,670

3,210

a

9127251.SQ.FTS.B

,

6

.445

%

,

11/23/26

...

5,993

5,613

a

9126631.SQ.FTS.B

,

6

.446

%

,

11/23/26

...

10,569

9,974

a

9124557.SQ.FTS.B

,

6

.447

%

,

11/23/26

...

20,491

16,985

a

9125105.SQ.FTS.B

,

6

.447

%

,

11/23/26

...

9,968

9,411

a

9127408.SQ.FTS.B

,

4

.707

%

,

11/24/26

...

2,058

1,929

a

9127362.SQ.FTS.B

,

4

.717

%

,

11/24/26

...

3,950

3,698

a

9128046.SQ.FTS.B

,

4

.717

%

,

11/24/26

...

3,313

3,107

a

9128076.SQ.FTS.B

,

4

.717

%

,

11/24/26

...

14,323

13,417

a

9127658.SQ.FTS.B

,

4

.719

%

,

11/24/26

...

19,638

18,396

a

9127946.SQ.FTS.B

,

4

.935

%

,

11/24/26

...

690

633

a

9127558.SQ.FTS.B

,

5

.031

%

,

11/24/26

...

8,890

8,281

a

9127856.SQ.FTS.B

,

5

.031

%

,

11/24/26

...

9,042

8,432

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

9128219.SQ.FTS.B

,

5

.598

%

,

11/24/26

...

$

9,522

$

8,799

a

9127472.SQ.FTS.B

,

5

.913

%

,

11/24/26

...

5,419

4,986

a

9128033.SQ.FTS.B

,

6

.091

%

,

11/24/26

...

2,329

2,135

a

9127447.SQ.FTS.B

,

6

.285

%

,

11/24/26

...

2,869

2,599

a

9128027.SQ.FTS.B

,

6

.289

%

,

11/24/26

...

1,004

916

a

9127980.SQ.FTS.B

,

6

.294

%

,

11/24/26

...

5,746

5,257

a

9127427.SQ.FTS.B

,

6

.436

%

,

11/24/26

...

2,054

1,860

a

9127835.SQ.FTS.B

,

6

.439

%

,

11/24/26

...

2,012

1,834

a

9127518.SQ.FTS.B

,

6

.447

%

,

11/24/26

...

5,685

5,157

a

9127957.SQ.FTS.B

,

6

.45

%

,

11/24/26

....

2,185

2,000

a

9127924.SQ.FTS.B

,

6

.464

%

,

11/24/26

...

1,797

1,639

a

9128605.SQ.FTS.B

,

4

.717

%

,

11/25/26

...

28,346

26,541

a

9128561.SQ.FTS.B

,

5

.026

%

,

11/25/26

...

5,009

4,674

a

9128408.SQ.FTS.B

,

5

.031

%

,

11/25/26

...

12,339

11,507

a

9128293.SQ.FTS.B

,

5

.346

%

,

11/25/26

...

6,715

6,217

a

9128354.SQ.FTS.B

,

6

.289

%

,

11/25/26

...

5,406

4,890

a

9128831.SQ.FTS.B

,

6

.446

%

,

11/25/26

...

22,852

20,750

a

9128526.SQ.FTS.B

,

6

.456

%

,

11/25/26

...

3,247

2,951

a

9129734.SQ.FTS.B

,

4

.715

%

,

11/26/26

...

8,196

7,679

a

9129111.SQ.FTS.B

,

4

.717

%

,

11/26/26

....

21,557

20,194

a

9129392.SQ.FTS.B

,

4

.717

%

,

11/26/26

...

29,803

27,910

a

9129667.SQ.FTS.B

,

4

.717

%

,

11/26/26

...

2,422

2,268

a

9129793.SQ.FTS.B

,

4

.721

%

,

11/26/26

...

7,382

6,913

a

9129648.SQ.FTS.B

,

4

.726

%

,

11/26/26

...

3,609

3,381

a

9129859.SQ.FTS.B

,

5

.028

%

,

11/26/26

...

4,423

4,130

a

9129676.SQ.FTS.B

,

5

.031

%

,

11/26/26

...

7,315

6,819

a

9129885.SQ.FTS.B

,

5

.346

%

,

11/26/26

...

38,912

36,138

a

9129727.SQ.FTS.B

,

5

.625

%

,

11/26/26

...

727

657

a

9129364.SQ.FTS.B

,

5

.909

%

,

11/26/26

...

2,286

2,105

a

9129571.SQ.FTS.B

,

5

.911

%

,

11/26/26

...

5,691

5,132

a

9129053.SQ.FTS.B

,

6

.289

%

,

11/26/26

...

1,564

1,410

a

9129344.SQ.FTS.B

,

6

.295

%

,

11/26/26

...

2,029

1,845

a

9129629.SQ.FTS.B

,

6

.436

%

,

11/26/26

...

1,701

1,526

a

9129064.SQ.FTS.B

,

6

.45

%

,

11/26/26

....

6,532

5,972

a

9135485.SQ.FTS.B

,

4

.715

%

,

11/27/26

...

9,041

8,477

a

9135431.SQ.FTS.B

,

4

.716

%

,

11/27/26

...

5,608

5,254

a

9132550.SQ.FTS.B

,

4

.717

%

,

11/27/26

...

46,583

43,631

a

9133461.SQ.FTS.B

,

4

.717

%

,

11/27/26

...

8,239

7,722

a

9133611.SQ.FTS.B

,

4

.717

%

,

11/27/26

...

31,070

29,113

a

9134393.SQ.FTS.B

,

4

.717

%

,

11/27/26

...

3,775

3,538

a

9134428.SQ.FTS.B

,

4

.717

%

,

11/27/26

...

1,580

1,480

a

9134649.SQ.FTS.B

,

4

.717

%

,

11/27/26

...

9,862

9,242

a

9134445.SQ.FTS.B

,

4

.72

%

,

11/27/26

....

6,297

5,897

a

9134282.SQ.FTS.B

,

4

.73

%

,

11/27/26

....

2,662

2,496

a

9134538.SQ.FTS.B

,

4

.73

%

,

11/27/26

....

2,580

2,417

a

9134232.SQ.FTS.B

,

4

.912

%

,

11/27/26

...

725

650

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

88

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

9133289.SQ.FTS.B

,

4

.944

%

,

11/27/26

...

$

2,349

$

2,130

a

9133127.SQ.FTS.B

,

5

.031

%

,

11/27/26

...

7,301

6,805

a

9134268.SQ.FTS.B

,

5

.031

%

,

11/27/26

...

1,720

1,604

a

9131139.SQ.FTS.B

,

5

.035

%

,

11/27/26

...

3,385

3,159

a

9132073.SQ.FTS.B

,

5

.346

%

,

11/27/26

...

18,958

17,591

a

9132487.SQ.FTS.B

,

5

.599

%

,

11/27/26

...

7,791

7,218

a

9132418.SQ.FTS.B

,

5

.6

%

,

11/27/26

.....

6,468

5,999

a

9131207.SQ.FTS.B

,

5

.63

%

,

11/27/26

....

4,364

4,019

a

9134843.SQ.FTS.B

,

5

.912

%

,

11/27/26

...

43,465

39,811

a

9134026.SQ.FTS.B

,

5

.913

%

,

11/27/26

...

11,447

10,554

a

9131236.SQ.FTS.B

,

6

.1

%

,

11/27/26

.....

23,761

21,768

a

9131165.SQ.FTS.B

,

6

.101

%

,

11/27/26

...

4,939

4,530

a

9133325.SQ.FTS.B

,

6

.101

%

,

11/27/26

...

8,172

7,473

a

9131861.SQ.FTS.B

,

6

.103

%

,

11/27/26

...

6,918

6,354

a

9133569.SQ.FTS.B

,

6

.104

%

,

11/27/26

...

3,383

3,113

a

9133101.SQ.FTS.B

,

6

.283

%

,

11/27/26

...

1,966

1,792

a

9134160.SQ.FTS.B

,

6

.289

%

,

11/27/26

...

4,140

3,777

a

9134311.SQ.FTS.B

,

6

.291

%

,

11/27/26

...

5,446

4,944

a

9134193.SQ.FTS.B

,

6

.444

%

,

11/27/26

...

2,316

2,090

a

9134589.SQ.FTS.B

,

6

.451

%

,

11/27/26

...

2,229

1,983

a

9137196.SQ.FTS.B

,

4

.696

%

,

11/28/26

...

727

681

a

9136822.SQ.FTS.B

,

4

.715

%

,

11/28/26

...

7,937

7,434

a

9136331.SQ.FTS.B

,

4

.717

%

,

11/28/26

...

16,082

15,067

a

9137681.SQ.FTS.B

,

4

.717

%

,

11/28/26

...

41,755

39,125

a

9138988.SQ.FTS.B

,

4

.717

%

,

11/28/26

...

47,900

44,893

a

9139897.SQ.FTS.B

,

4

.717

%

,

11/28/26

...

8,440

7,893

a

9139567.SQ.FTS.B

,

4

.718

%

,

11/28/26

...

35,180

33,000

a

9136995.SQ.FTS.B

,

4

.719

%

,

11/28/26

...

6,207

5,803

a

9137217.SQ.FTS.B

,

4

.719

%

,

11/28/26

...

9,197

8,616

a

9140575.SQ.FTS.B

,

4

.719

%

,

11/28/26

...

13,170

12,305

a

9140067.SQ.FTS.B

,

4

.72

%

,

11/28/26

....

11,079

10,372

a

9140499.SQ.FTS.B

,

4

.724

%

,

11/28/26

...

5,051

4,734

a

9138929.SQ.FTS.B

,

4

.726

%

,

11/28/26

...

3,521

3,297

a

9140043.SQ.FTS.B

,

4

.93

%

,

11/28/26

....

1,838

1,692

a

9135993.SQ.FTS.B

,

4

.937

%

,

11/28/26

...

12,384

11,440

a

9140183.SQ.FTS.B

,

4

.95

%

,

11/28/26

....

2,174

2,012

a

9140274.SQ.FTS.B

,

5

.031

%

,

11/28/26

...

18,272

17,041

a

9137432.SQ.FTS.B

,

5

.346

%

,

11/28/26

...

8,925

8,285

a

9139954.SQ.FTS.B

,

5

.346

%

,

11/28/26

...

5,922

5,405

a

9140421.SQ.FTS.B

,

5

.347

%

,

11/28/26

...

10,977

10,206

a

9138777.SQ.FTS.B

,

5

.348

%

,

11/28/26

...

17,244

16,037

a

9135932.SQ.FTS.B

,

5

.592

%

,

11/28/26

...

2,413

2,233

a

9138735.SQ.FTS.B

,

5

.599

%

,

11/28/26

...

3,751

3,471

a

9137592.SQ.FTS.B

,

5

.606

%

,

11/28/26

...

3,781

3,502

a

9136623.SQ.FTS.B

,

6

.101

%

,

11/28/26

...

6,985

6,408

a

9140496.SQ.FTS.B

,

6

.296

%

,

11/28/26

...

1,450

1,298

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

9137673.SQ.FTS.B

,

6

.433

%

,

11/28/26

...

$

1,165

$

1,064

a

9140557.SQ.FTS.B

,

6

.435

%

,

11/28/26

...

1,425

1,301

a

9140240.SQ.FTS.B

,

6

.436

%

,

11/28/26

...

1,869

1,695

a

9135617.SQ.FTS.B

,

6

.445

%

,

11/28/26

...

5,719

5,207

a

9135819.SQ.FTS.B

,

6

.447

%

,

11/28/26

...

2,355

2,123

a

9138948.SQ.FTS.B

,

6

.447

%

,

11/28/26

...

3,837

3,501

a

9140392.SQ.FTS.B

,

6

.447

%

,

11/28/26

...

4,110

3,724

a

9135850.SQ.FTS.B

,

6

.451

%

,

11/28/26

...

5,597

5,119

a

9138729.SQ.FTS.B

,

6

.499

%

,

11/28/26

...

605

551

a

9147467.SQ.FTS.B

,

4

.705

%

,

11/29/26

...

1,952

1,829

a

9147517.SQ.FTS.B

,

4

.712

%

,

11/29/26

...

3,917

3,668

a

9143704.SQ.FTS.B

,

4

.715

%

,

11/29/26

...

6,106

5,721

a

9143676.SQ.FTS.B

,

4

.717

%

,

11/29/26

...

928

867

a

9144740.SQ.FTS.B

,

4

.717

%

,

11/29/26

...

2,184

2,044

a

9145148.SQ.FTS.B

,

4

.717

%

,

11/29/26

...

4,355

4,078

a

9145702.SQ.FTS.B

,

4

.717

%

,

11/29/26

...

27,687

25,951

a

9146009.SQ.FTS.B

,

4

.717

%

,

11/29/26

...

26,011

24,359

a

9147069.SQ.FTS.B

,

4

.717

%

,

11/29/26

...

9,484

8,884

a

9146280.SQ.FTS.B

,

4

.718

%

,

11/29/26

...

25,300

23,692

a

9146590.SQ.FTS.B

,

4

.718

%

,

11/29/26

...

54,607

51,148

a

9145036.SQ.FTS.B

,

4

.72

%

,

11/29/26

....

5,486

5,138

a

9145406.SQ.FTS.B

,

4

.72

%

,

11/29/26

....

12,549

11,747

a

9144264.SQ.FTS.B

,

4

.723

%

,

11/29/26

...

2,727

2,553

a

9147028.SQ.FTS.B

,

4

.933

%

,

11/29/26

...

2,184

1,990

a

9144848.SQ.FTS.B

,

4

.935

%

,

11/29/26

...

7,004

6,386

a

9146236.SQ.FTS.B

,

4

.937

%

,

11/29/26

...

2,668

2,470

a

9146262.SQ.FTS.B

,

5

.031

%

,

11/29/26

...

1,905

1,777

a

9147559.SQ.FTS.B

,

5

.031

%

,

11/29/26

...

33,982

31,655

a

9148373.SQ.FTS.B

,

5

.031

%

,

11/29/26

...

6,854

6,393

a

9145261.SQ.FTS.B

,

5

.346

%

,

11/29/26

...

7,116

6,607

a

9147237.SQ.FTS.B

,

5

.347

%

,

11/29/26

...

23,916

22,218

a

9143958.SQ.FTS.B

,

5

.348

%

,

11/29/26

...

15,156

14,067

a

9143818.SQ.FTS.B

,

5

.591

%

,

11/29/26

...

3,846

3,559

a

9143890.SQ.FTS.B

,

5

.597

%

,

11/29/26

...

5,421

5,020

a

9144169.SQ.FTS.B

,

5

.597

%

,

11/29/26

...

7,371

6,807

a

9144384.SQ.FTS.B

,

5

.602

%

,

11/29/26

...

5,134

4,750

a

9144321.SQ.FTS.B

,

5

.621

%

,

11/29/26

...

3,512

3,191

a

9148439.SQ.FTS.B

,

6

.101

%

,

11/29/26

...

72,109

66,132

a

9147479.SQ.FTS.B

,

6

.104

%

,

11/29/26

...

1,715

1,575

a

9146578.SQ.FTS.B

,

6

.116

%

,

11/29/26

...

1,544

1,416

a

9148421.SQ.FTS.B

,

6

.289

%

,

11/29/26

...

1,338

1,215

a

9147487.SQ.FTS.B

,

6

.44

%

,

11/29/26

....

2,221

2,024

a

9144454.SQ.FTS.B

,

6

.444

%

,

11/29/26

...

6,777

6,178

a

9144614.SQ.FTS.B

,

6

.447

%

,

11/29/26

...

3,154

2,888

a

9147142.SQ.FTS.B

,

6

.459

%

,

11/29/26

...

1,333

1,218

a

9147144.SQ.FTS.B

,

6

.511

%

,

11/29/26

...

10,786

9,815

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

89

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

9154577.SQ.FTS.B

,

4

.717

%

,

11/30/26

...

$

27,199

$

25,432

a

9155289.SQ.FTS.B

,

4

.717

%

,

11/30/26

...

12,877

12,061

a

9151414.SQ.FTS.B

,

4

.719

%

,

11/30/26

...

17,360

16,257

a

9155088.SQ.FTS.B

,

4

.719

%

,

11/30/26

...

8,701

8,147

a

9155165.SQ.FTS.B

,

4

.719

%

,

11/30/26

...

15,485

14,493

a

9151276.SQ.FTS.B

,

4

.945

%

,

11/30/26

...

2,277

2,095

a

9154493.SQ.FTS.B

,

4

.948

%

,

11/30/26

...

1,390

1,279

a

9148759.SQ.FTS.B

,

5

.031

%

,

11/30/26

...

4,355

4,058

a

9151335.SQ.FTS.B

,

5

.031

%

,

11/30/26

...

7,006

6,531

a

9151758.SQ.FTS.B

,

5

.031

%

,

11/30/26

...

96,292

89,791

a

9154401.SQ.FTS.B

,

5

.031

%

,

11/30/26

...

8,451

7,886

a

9154995.SQ.FTS.B

,

5

.031

%

,

11/30/26

...

3,335

3,112

a

9149181.SQ.FTS.B

,

5

.346

%

,

11/30/26

...

62,418

57,916

a

9150699.SQ.FTS.B

,

5

.346

%

,

11/30/26

...

17,772

16,431

a

9155156.SQ.FTS.B

,

5

.346

%

,

11/30/26

...

1,033

959

a

9148888.SQ.FTS.B

,

5

.348

%

,

11/30/26

...

4,902

4,550

a

9149180.SQ.FTS.B

,

5

.66

%

,

11/30/26

....

933

854

a

9155020.SQ.FTS.B

,

5

.916

%

,

11/30/26

...

5,353

4,934

a

9148957.SQ.FTS.B

,

6

.095

%

,

11/30/26

...

4,651

4,275

a

9154803.SQ.FTS.B

,

6

.099

%

,

11/30/26

...

1,787

1,641

a

9153027.SQ.FTS.B

,

6

.101

%

,

11/30/26

...

51,464

47,347

a

9154820.SQ.FTS.B

,

6

.102

%

,

11/30/26

...

22,031

20,234

a

9154466.SQ.FTS.B

,

6

.107

%

,

11/30/26

...

4,076

3,736

a

9149036.SQ.FTS.B

,

6

.437

%

,

11/30/26

...

1,747

1,595

a

9148870.SQ.FTS.B

,

6

.439

%

,

11/30/26

...

1,211

1,107

a

9154507.SQ.FTS.B

,

6

.445

%

,

11/30/26

...

6,248

5,647

a

9155048.SQ.FTS.B

,

6

.448

%

,

11/30/26

...

4,934

4,479

a

9151157.SQ.FTS.B

,

6

.452

%

,

11/30/26

...

4,401

4,021

a

9151744.SQ.FTS.B

,

6

.454

%

,

11/30/26

...

1,085

987

a

9149097.SQ.FTS.B

,

6

.456

%

,

11/30/26

...

2,758

2,485

a

9154456.SQ.FTS.B

,

6

.456

%

,

11/30/26

...

1,641

1,494

a

9155651.SQ.FTS.B

,

4

.717

%

,

12/01/26

...

28,257

26,457

a

9156105.SQ.FTS.B

,

4

.717

%

,

12/01/26

...

14,405

13,470

a

9155397.SQ.FTS.B

,

4

.719

%

,

12/01/26

...

17,708

16,582

a

9155547.SQ.FTS.B

,

4

.723

%

,

12/01/26

...

5,008

4,687

a

9156216.SQ.FTS.B

,

4

.727

%

,

12/01/26

...

3,389

3,171

a

9155606.SQ.FTS.B

,

6

.098

%

,

12/01/26

...

4,882

4,479

a

9156236.SQ.FTS.B

,

6

.282

%

,

12/01/26

...

3,083

2,796

a

9156264.SQ.FTS.B

,

6

.448

%

,

12/01/26

...

15,907

14,562

a

9155885.SQ.FTS.B

,

6

.449

%

,

12/01/26

...

9,279

8,404

a

9155957.SQ.FTS.B

,

6

.449

%

,

12/01/26

...

14,757

13,441

a

9158375.SQ.FTS.B

,

4

.716

%

,

12/02/26

...

4,633

4,341

a

9158560.SQ.FTS.B

,

4

.716

%

,

12/02/26

...

11,213

10,498

a

9156707.SQ.FTS.B

,

4

.717

%

,

12/02/26

...

10,523

9,854

a

9158154.SQ.FTS.B

,

4

.717

%

,

12/02/26

...

9,937

9,302

a

9160233.SQ.FTS.B

,

4

.717

%

,

12/02/26

...

11,905

11,149

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

9160393.SQ.FTS.B

,

4

.717

%

,

12/02/26

...

$

21,265

$

19,915

a

9160592.SQ.FTS.B

,

4

.717

%

,

12/02/26

...

7,389

6,919

a

9160825.SQ.FTS.B

,

4

.717

%

,

12/02/26

...

2,709

2,537

a

9160897.SQ.FTS.B

,

4

.718

%

,

12/02/26

...

4,351

4,071

a

9159523.SQ.FTS.B

,

4

.721

%

,

12/02/26

...

9,114

8,536

a

9159435.SQ.FTS.B

,

4

.727

%

,

12/02/26

...

2,757

2,579

a

9159405.SQ.FTS.B

,

4

.932

%

,

12/02/26

...

3,802

3,422

a

9158480.SQ.FTS.B

,

5

.024

%

,

12/02/26

...

1,864

1,739

a

9158902.SQ.FTS.B

,

5

.031

%

,

12/02/26

...

9,236

8,617

a

9160773.SQ.FTS.B

,

5

.031

%

,

12/02/26

...

3,789

3,535

a

9157527.SQ.FTS.B

,

5

.342

%

,

12/02/26

...

1,925

1,788

a

9158719.SQ.FTS.B

,

5

.342

%

,

12/02/26

...

5,243

4,863

a

9157026.SQ.FTS.B

,

5

.346

%

,

12/02/26

...

10,247

9,484

a

9157584.SQ.FTS.B

,

5

.346

%

,

12/02/26

...

30,946

28,737

a

9159126.SQ.FTS.B

,

5

.6

%

,

12/02/26

.....

5,591

5,173

a

9161055.SQ.FTS.B

,

5

.628

%

,

12/02/26

...

57,687

53,072

a

9156672.SQ.FTS.B

,

5

.631

%

,

12/02/26

...

6,128

5,666

a

9160654.SQ.FTS.B

,

5

.631

%

,

12/02/26

...

10,863

9,969

a

9157456.SQ.FTS.B

,

5

.644

%

,

12/02/26

...

1,968

1,808

a

9159458.SQ.FTS.B

,

5

.912

%

,

12/02/26

...

7,813

7,193

a

9159402.SQ.FTS.B

,

5

.93

%

,

12/02/26

....

1,872

1,724

a

9158454.SQ.FTS.B

,

6

.093

%

,

12/02/26

...

1,645

1,507

a

9159197.SQ.FTS.B

,

6

.1

%

,

12/02/26

.....

9,252

8,513

a

9158527.SQ.FTS.B

,

6

.101

%

,

12/02/26

...

2,757

2,510

a

9159565.SQ.FTS.B

,

6

.101

%

,

12/02/26

...

61,322

56,251

a

9161006.SQ.FTS.B

,

6

.101

%

,

12/02/26

...

1,983

1,818

a

9159373.SQ.FTS.B

,

6

.289

%

,

12/02/26

...

5,036

4,589

a

9159026.SQ.FTS.B

,

6

.44

%

,

12/02/26

....

3,803

3,475

a

9158840.SQ.FTS.B

,

6

.447

%

,

12/02/26

...

2,262

2,036

a

9159296.SQ.FTS.B

,

6

.448

%

,

12/02/26

...

7,273

6,639

a

9164909.SQ.FTS.B

,

4

.715

%

,

12/03/26

...

9,157

8,569

a

9165058.SQ.FTS.B

,

4

.717

%

,

12/03/26

...

57,963

54,263

a

9166484.SQ.FTS.B

,

4

.717

%

,

12/03/26

...

3,187

2,985

a

9163696.SQ.FTS.B

,

4

.718

%

,

12/03/26

...

35,414

33,163

a

9166172.SQ.FTS.B

,

4

.718

%

,

12/03/26

...

6,395

5,989

a

9164636.SQ.FTS.B

,

4

.719

%

,

12/03/26

...

17,832

16,695

a

9162108.SQ.FTS.B

,

4

.721

%

,

12/03/26

...

6,458

6,045

a

9166165.SQ.FTS.B

,

4

.931

%

,

12/03/26

...

1,451

1,339

a

9166277.SQ.FTS.B

,

4

.935

%

,

12/03/26

...

11,460

10,583

a

9166416.SQ.FTS.B

,

4

.937

%

,

12/03/26

...

3,827

3,538

a

9162205.SQ.FTS.B

,

5

.029

%

,

12/03/26

...

5,765

5,375

a

9163028.SQ.FTS.B

,

5

.031

%

,

12/03/26

...

3,510

3,269

a

9164599.SQ.FTS.B

,

5

.031

%

,

12/03/26

...

3,100

2,889

a

9166520.SQ.FTS.B

,

5

.031

%

,

12/03/26

...

46,095

42,951

a

9164173.SQ.FTS.B

,

5

.343

%

,

12/03/26

...

3,172

2,929

a

9161505.SQ.FTS.B

,

5

.597

%

,

12/03/26

...

21,151

19,559

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

90

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

9163154.SQ.FTS.B

,

5

.597

%

,

12/03/26

...

$

28,631

$

26,533

a

9164334.SQ.FTS.B

,

5

.597

%

,

12/03/26

...

25,130

23,259

a

9166259.SQ.FTS.B

,

5

.599

%

,

12/03/26

...

1,402

1,291

a

9163114.SQ.FTS.B

,

5

.602

%

,

12/03/26

...

3,295

3,044

a

9163504.SQ.FTS.B

,

6

.101

%

,

12/03/26

...

14,192

13,012

a

9164225.SQ.FTS.B

,

6

.101

%

,

12/03/26

...

6,595

6,052

a

9166375.SQ.FTS.B

,

6

.101

%

,

12/03/26

...

2,647

2,414

a

9164265.SQ.FTS.B

,

6

.105

%

,

12/03/26

...

6,685

6,146

a

9164882.SQ.FTS.B

,

6

.122

%

,

12/03/26

...

1,325

1,211

a

9162355.SQ.FTS.B

,

6

.289

%

,

12/03/26

...

12,649

11,515

a

9164813.SQ.FTS.B

,

6

.289

%

,

12/03/26

...

4,867

4,425

a

9164871.SQ.FTS.B

,

6

.289

%

,

12/03/26

...

1,726

1,557

a

9162267.SQ.FTS.B

,

6

.443

%

,

12/03/26

...

4,554

4,165

a

9165561.SQ.FTS.B

,

6

.444

%

,

12/03/26

...

5,700

5,202

a

9165709.SQ.FTS.B

,

6

.447

%

,

12/03/26

...

44,828

40,918

a

9165610.SQ.FTS.B

,

6

.448

%

,

12/03/26

...

5,939

5,367

a

9162917.SQ.FTS.B

,

6

.449

%

,

12/03/26

...

8,063

7,370

a

9166450.SQ.FTS.B

,

6

.451

%

,

12/03/26

...

4,348

3,986

a

9163093.SQ.FTS.B

,

6

.478

%

,

12/03/26

...

1,006

917

a

9169051.SQ.FTS.B

,

4

.715

%

,

12/04/26

...

7,324

6,860

a

9170192.SQ.FTS.B

,

4

.715

%

,

12/04/26

...

10,563

9,893

a

9167091.SQ.FTS.B

,

4

.717

%

,

12/04/26

...

25,436

23,800

a

9167655.SQ.FTS.B

,

4

.717

%

,

12/04/26

...

16,746

15,674

a

9168118.SQ.FTS.B

,

4

.717

%

,

12/04/26

...

7,447

6,972

a

9169854.SQ.FTS.B

,

4

.717

%

,

12/04/26

...

8,606

8,059

a

9170284.SQ.FTS.B

,

4

.717

%

,

12/04/26

...

20,789

19,473

a

9170871.SQ.FTS.B

,

4

.717

%

,

12/04/26

...

65,633

61,437

a

9166787.SQ.FTS.B

,

4

.718

%

,

12/04/26

...

27,822

26,048

a

9168508.SQ.FTS.B

,

4

.718

%

,

12/04/26

...

40,376

37,790

a

9168211.SQ.FTS.B

,

4

.72

%

,

12/04/26

....

13,319

12,473

a

9168435.SQ.FTS.B

,

4

.721

%

,

12/04/26

...

4,609

4,317

a

9170833.SQ.FTS.B

,

4

.729

%

,

12/04/26

...

2,580

2,417

a

9170454.SQ.FTS.B

,

5

.031

%

,

12/04/26

...

2,638

2,459

a

9170470.SQ.FTS.B

,

5

.031

%

,

12/04/26

...

26,795

24,985

a

9169159.SQ.FTS.B

,

5

.333

%

,

12/04/26

...

2,338

2,170

a

9166701.SQ.FTS.B

,

5

.597

%

,

12/04/26

...

5,800

5,363

a

9170125.SQ.FTS.B

,

5

.66

%

,

12/04/26

....

944

867

a

9169172.SQ.FTS.B

,

5

.912

%

,

12/04/26

...

40,082

36,907

a

9169979.SQ.FTS.B

,

6

.092

%

,

12/04/26

...

2,735

2,512

a

9170138.SQ.FTS.B

,

6

.101

%

,

12/04/26

...

4,228

3,882

a

9169657.SQ.FTS.B

,

6

.289

%

,

12/04/26

...

27,874

25,535

a

9170031.SQ.FTS.B

,

6

.447

%

,

12/04/26

...

7,880

7,196

a

9178335.SQ.FTS.B

,

4

.715

%

,

12/05/26

...

6,991

6,543

a

9173933.SQ.FTS.B

,

4

.717

%

,

12/05/26

...

16,167

15,133

a

9175225.SQ.FTS.B

,

4

.717

%

,

12/05/26

...

25,361

23,737

a

9178432.SQ.FTS.B

,

4

.718

%

,

12/05/26

...

37,229

34,834

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

9177769.SQ.FTS.B

,

4

.72

%

,

12/05/26

....

$

12,295

$

11,507

a

9175708.SQ.FTS.B

,

4

.732

%

,

12/05/26

...

2,251

2,106

a

9174902.SQ.FTS.B

,

5

.031

%

,

12/05/26

...

11,511

10,723

a

9175985.SQ.FTS.B

,

5

.037

%

,

12/05/26

...

4,884

4,552

a

9176370.SQ.FTS.B

,

5

.347

%

,

12/05/26

...

29,301

27,201

a

9174238.SQ.FTS.B

,

5

.597

%

,

12/05/26

...

21,192

19,583

a

9175734.SQ.FTS.B

,

5

.597

%

,

12/05/26

...

21,576

19,921

a

9174799.SQ.FTS.B

,

5

.916

%

,

12/05/26

...

4,028

3,702

a

9177726.SQ.FTS.B

,

6

.1

%

,

12/05/26

.....

3,946

3,625

a

9176748.SQ.FTS.B

,

6

.101

%

,

12/05/26

...

29,192

26,779

a

9176055.SQ.FTS.B

,

6

.102

%

,

12/05/26

...

10,739

9,856

a

9176281.SQ.FTS.B

,

6

.289

%

,

12/05/26

...

8,220

7,485

a

9176675.SQ.FTS.B

,

6

.296

%

,

12/05/26

...

2,020

1,848

a

9177910.SQ.FTS.B

,

6

.446

%

,

12/05/26

...

31,710

28,998

a

9173849.SQ.FTS.B

,

6

.447

%

,

12/05/26

...

5,992

5,448

a

9174149.SQ.FTS.B

,

6

.447

%

,

12/05/26

...

6,364

5,804

a

9177044.SQ.FTS.B

,

6

.447

%

,

12/05/26

...

46,295

42,177

a

9177659.SQ.FTS.B

,

6

.449

%

,

12/05/26

...

3,697

3,362

a

9174597.SQ.FTS.B

,

6

.453

%

,

12/05/26

...

5,149

4,707

a

9177616.SQ.FTS.B

,

6

.459

%

,

12/05/26

...

2,796

2,555

a

9179564.SQ.FTS.B

,

4

.717

%

,

12/06/26

...

13,472

12,601

a

9180406.SQ.FTS.B

,

4

.717

%

,

12/06/26

...

19,696

18,434

a

9180829.SQ.FTS.B

,

4

.717

%

,

12/06/26

...

78,325

73,272

a

9182393.SQ.FTS.B

,

4

.717

%

,

12/06/26

...

65,076

60,871

a

9180047.SQ.FTS.B

,

4

.719

%

,

12/06/26

...

9,271

8,676

a

9180655.SQ.FTS.B

,

4

.719

%

,

12/06/26

...

13,185

12,335

a

9180247.SQ.FTS.B

,

4

.72

%

,

12/06/26

....

10,966

10,257

a

9182035.SQ.FTS.B

,

4

.721

%

,

12/06/26

...

5,586

5,227

a

9182105.SQ.FTS.B

,

5

.031

%

,

12/06/26

...

9,001

8,385

a

9182209.SQ.FTS.B

,

5

.488

%

,

12/06/26

...

1,791

1,643

a

9182231.SQ.FTS.B

,

5

.59

%

,

12/06/26

....

4,249

3,925

a

9178912.SQ.FTS.B

,

5

.597

%

,

12/06/26

...

9,150

8,459

a

9180198.SQ.FTS.B

,

5

.621

%

,

12/06/26

...

2,731

2,524

a

9180177.SQ.FTS.B

,

5

.63

%

,

12/06/26

....

1,177

1,086

a

9179513.SQ.FTS.B

,

6

.088

%

,

12/06/26

...

2,187

2,007

a

9182307.SQ.FTS.B

,

6

.099

%

,

12/06/26

...

3,842

3,533

a

9178676.SQ.FTS.B

,

6

.102

%

,

12/06/26

...

22,638

20,786

a

9179013.SQ.FTS.B

,

6

.103

%

,

12/06/26

...

8,368

7,612

a

9180604.SQ.FTS.B

,

6

.11

%

,

12/06/26

....

4,030

3,706

a

9182224.SQ.FTS.B

,

6

.44

%

,

12/06/26

....

1,315

1,203

a

9180393.SQ.FTS.B

,

6

.447

%

,

12/06/26

...

447

409

a

9184119.SQ.FTS.B

,

4

.707

%

,

12/07/26

...

2,822

2,640

a

9183809.SQ.FTS.B

,

4

.715

%

,

12/07/26

...

6,977

6,528

a

9183610.SQ.FTS.B

,

4

.717

%

,

12/07/26

...

7,332

6,861

a

9183910.SQ.FTS.B

,

4

.72

%

,

12/07/26

....

2,487

2,327

a

9183415.SQ.FTS.B

,

4

.935

%

,

12/07/26

...

10,558

9,770

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

91

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

9184113.SQ.FTS.B

,

4

.952

%

,

12/07/26

...

$

1,119

$

1,035

a

9183875.SQ.FTS.B

,

5

.031

%

,

12/07/26

...

2,503

2,331

a

9183934.SQ.FTS.B

,

5

.031

%

,

12/07/26

...

16,307

15,189

a

9183904.SQ.FTS.B

,

5

.157

%

,

12/07/26

...

1,096

1,020

a

9183161.SQ.FTS.B

,

5

.347

%

,

12/07/26

...

31,452

29,187

a

9183530.SQ.FTS.B

,

5

.601

%

,

12/07/26

...

6,066

5,613

a

9183786.SQ.FTS.B

,

5

.618

%

,

12/07/26

...

1,673

1,547

a

9183562.SQ.FTS.B

,

5

.633

%

,

12/07/26

...

7,202

6,625

a

9183652.SQ.FTS.B

,

5

.954

%

,

12/07/26

...

1,514

1,393

a

9183760.SQ.FTS.B

,

6

.113

%

,

12/07/26

...

2,527

2,318

a

9183661.SQ.FTS.B

,

6

.289

%

,

12/07/26

...

12,643

11,515

a

9184051.SQ.FTS.B

,

6

.289

%

,

12/07/26

...

6,244

5,711

a

9183925.SQ.FTS.B

,

6

.453

%

,

12/07/26

...

1,183

1,076

a

9184261.SQ.FTS.B

,

4

.717

%

,

12/08/26

...

15,627

14,622

a

9184838.SQ.FTS.B

,

4

.719

%

,

12/08/26

...

16,681

15,609

a

9184196.SQ.FTS.B

,

4

.895

%

,

12/08/26

...

831

774

a

9184485.SQ.FTS.B

,

5

.031

%

,

12/08/26

...

17,374

16,200

a

9184743.SQ.FTS.B

,

5

.345

%

,

12/08/26

...

6,486

6,018

a

9184150.SQ.FTS.B

,

5

.351

%

,

12/08/26

...

4,396

4,072

a

9184624.SQ.FTS.B

,

5

.6

%

,

12/08/26

.....

12,495

11,510

a

9184205.SQ.FTS.B

,

5

.908

%

,

12/08/26

...

6,419

5,907

a

9184788.SQ.FTS.B

,

6

.085

%

,

12/08/26

...

1,715

1,565

a

9184136.SQ.FTS.B

,

6

.457

%

,

12/08/26

...

1,670

1,525

a

9184808.SQ.FTS.B

,

6

.46

%

,

12/08/26

....

2,030

1,834

a

9184416.SQ.FTS.B

,

6

.509

%

,

12/08/26

...

7,995

7,217

a

9185576.SQ.FTS.B

,

4

.715

%

,

12/09/26

...

8,204

7,675

a

9187167.SQ.FTS.B

,

4

.716

%

,

12/09/26

...

14,272

13,363

a

9187365.SQ.FTS.B

,

4

.719

%

,

12/09/26

...

14,766

13,814

a

9188954.SQ.FTS.B

,

4

.719

%

,

12/09/26

...

9,822

9,195

a

9188210.SQ.FTS.B

,

4

.72

%

,

12/09/26

....

2,493

2,332

a

9189031.SQ.FTS.B

,

4

.78

%

,

12/09/26

....

555

519

a

9186187.SQ.FTS.B

,

4

.874

%

,

12/09/26

...

440

410

a

9188927.SQ.FTS.B

,

4

.928

%

,

12/09/26

...

1,414

1,305

a

9188069.SQ.FTS.B

,

4

.938

%

,

12/09/26

...

6,274

5,298

a

9186197.SQ.FTS.B

,

5

.031

%

,

12/09/26

...

5,326

4,961

a

9188254.SQ.FTS.B

,

5

.031

%

,

12/09/26

...

17,981

16,748

a

9186342.SQ.FTS.B

,

5

.036

%

,

12/09/26

...

6,279

5,852

a

9189551.SQ.FTS.B

,

5

.35

%

,

12/09/26

....

2,205

2,043

a

9187817.SQ.FTS.B

,

5

.355

%

,

12/09/26

...

3,606

3,341

a

9189038.SQ.FTS.B

,

5

.592

%

,

12/09/26

...

3,403

3,144

a

9186531.SQ.FTS.B

,

5

.595

%

,

12/09/26

...

7,114

6,584

a

9187883.SQ.FTS.B

,

5

.596

%

,

12/09/26

...

14,619

13,508

a

9188830.SQ.FTS.B

,

5

.597

%

,

12/09/26

...

6,074

5,603

a

9189584.SQ.FTS.B

,

5

.598

%

,

12/09/26

...

14,433

13,344

a

9189351.SQ.FTS.B

,

5

.599

%

,

12/09/26

...

4,603

4,258

a

9186637.SQ.FTS.B

,

5

.632

%

,

12/09/26

...

2,317

2,132

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

9187149.SQ.FTS.B

,

5

.913

%

,

12/09/26

...

$

1,608

$

1,472

a

9185643.SQ.FTS.B

,

6

.099

%

,

12/09/26

...

12,531

11,503

a

9188468.SQ.FTS.B

,

6

.101

%

,

12/09/26

...

25,402

23,273

a

9186471.SQ.FTS.B

,

6

.107

%

,

12/09/26

...

3,032

2,775

a

9188436.SQ.FTS.B

,

6

.11

%

,

12/09/26

....

1,459

1,340

a

9187508.SQ.FTS.B

,

6

.289

%

,

12/09/26

...

27,189

24,799

a

9187129.SQ.FTS.B

,

6

.299

%

,

12/09/26

...

1,474

1,348

a

9189563.SQ.FTS.B

,

6

.434

%

,

12/09/26

...

1,402

1,280

a

9186054.SQ.FTS.B

,

6

.444

%

,

12/09/26

...

3,385

3,092

a

9186680.SQ.FTS.B

,

6

.447

%

,

12/09/26

...

37,645

34,360

a

9189068.SQ.FTS.B

,

6

.447

%

,

12/09/26

...

6,395

5,831

a

9189410.SQ.FTS.B

,

6

.447

%

,

12/09/26

...

9,976

9,110

a

9189785.SQ.FTS.B

,

6

.447

%

,

12/09/26

...

21,809

19,818

a

9189146.SQ.FTS.B

,

6

.448

%

,

12/09/26

...

21,492

19,575

a

9188228.SQ.FTS.B

,

6

.452

%

,

12/09/26

...

2,933

2,675

a

9188789.SQ.FTS.B

,

6

.453

%

,

12/09/26

...

3,467

3,149

a

9194794.SQ.FTS.B

,

4

.712

%

,

12/10/26

...

4,250

3,976

a

9190887.SQ.FTS.B

,

4

.715

%

,

12/10/26

...

7,221

6,756

a

9193546.SQ.FTS.B

,

4

.717

%

,

12/10/26

...

11,729

10,972

a

9193625.SQ.FTS.B

,

4

.718

%

,

12/10/26

...

49,930

46,716

a

9193959.SQ.FTS.B

,

4

.718

%

,

12/10/26

...

62,623

58,594

a

9190754.SQ.FTS.B

,

4

.721

%

,

12/10/26

...

5,618

5,257

a

9193398.SQ.FTS.B

,

4

.723

%

,

12/10/26

...

5,953

5,569

a

9191923.SQ.FTS.B

,

5

.031

%

,

12/10/26

...

53,695

50,015

a

9193526.SQ.FTS.B

,

5

.031

%

,

12/10/26

...

2,686

2,502

a

9190661.SQ.FTS.B

,

5

.038

%

,

12/10/26

...

3,991

3,711

a

9190704.SQ.FTS.B

,

5

.596

%

,

12/10/26

...

9,886

9,133

a

9192746.SQ.FTS.B

,

5

.597

%

,

12/10/26

...

47,137

43,559

a

9191112.SQ.FTS.B

,

5

.639

%

,

12/10/26

...

1,518

1,395

a

9190788.SQ.FTS.B

,

6

.11

%

,

12/10/26

....

1,256

1,151

a

9190286.SQ.FTS.B

,

6

.289

%

,

12/10/26

...

638

569

a

9190831.SQ.FTS.B

,

6

.442

%

,

12/10/26

...

6,379

5,833

a

9192699.SQ.FTS.B

,

6

.442

%

,

12/10/26

...

3,596

3,279

a

9191165.SQ.FTS.B

,

6

.447

%

,

12/10/26

...

25,258

23,035

a

9194871.SQ.FTS.B

,

6

.448

%

,

12/10/26

...

22,070

20,179

a

9191893.SQ.FTS.B

,

6

.45

%

,

12/10/26

....

2,002

1,817

a

9193943.SQ.FTS.B

,

6

.458

%

,

12/10/26

...

2,297

2,098

a

9193486.SQ.FTS.B

,

6

.671

%

,

12/10/26

...

4,292

3,904

a

9196467.SQ.FTS.B

,

4

.717

%

,

12/11/26

...

102,234

95,689

a

9199431.SQ.FTS.B

,

4

.717

%

,

12/11/26

...

42,855

40,106

a

9198770.SQ.FTS.B

,

4

.718

%

,

12/11/26

...

59,081

55,267

a

9199860.SQ.FTS.B

,

4

.718

%

,

12/11/26

...

3,898

3,647

a

9195216.SQ.FTS.B

,

4

.719

%

,

12/11/26

...

4,024

3,764

a

9198689.SQ.FTS.B

,

4

.721

%

,

12/11/26

...

9,161

8,570

a

9195826.SQ.FTS.B

,

5

.031

%

,

12/11/26

...

24,624

22,959

a

9199900.SQ.FTS.B

,

5

.031

%

,

12/11/26

...

26,631

24,796

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

92

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

9200198.SQ.FTS.B

,

5

.031

%

,

12/11/26

...

$

10,945

$

10,199

a

9195783.SQ.FTS.B

,

5

.04

%

,

12/11/26

....

3,279

3,057

a

9195350.SQ.FTS.B

,

5

.345

%

,

12/11/26

...

12,688

11,769

a

9200187.SQ.FTS.B

,

5

.626

%

,

12/11/26

...

974

897

a

9194966.SQ.FTS.B

,

5

.913

%

,

12/11/26

...

8,459

7,781

a

9199374.SQ.FTS.B

,

5

.919

%

,

12/11/26

...

4,591

4,230

a

9200158.SQ.FTS.B

,

6

.08

%

,

12/11/26

....

1,356

1,246

a

9199363.SQ.FTS.B

,

6

.11

%

,

12/11/26

....

1,249

1,147

a

9195731.SQ.FTS.B

,

6

.296

%

,

12/11/26

...

2,048

1,874

a

9198668.SQ.FTS.B

,

6

.363

%

,

12/11/26

...

2,002

1,829

a

9195164.SQ.FTS.B

,

6

.447

%

,

12/11/26

...

1,650

1,503

a

9204736.SQ.FTS.B

,

4

.713

%

,

12/12/26

...

4,129

3,862

a

9204766.SQ.FTS.B

,

4

.715

%

,

12/12/26

...

6,395

5,980

a

9205145.SQ.FTS.B

,

4

.717

%

,

12/12/26

...

38,142

35,675

a

9206976.SQ.FTS.B

,

4

.717

%

,

12/12/26

...

45,693

42,746

a

9207267.SQ.FTS.B

,

4

.717

%

,

12/12/26

...

4,370

4,088

a

9207290.SQ.FTS.B

,

4

.717

%

,

12/12/26

...

9,730

9,099

a

9207461.SQ.FTS.B

,

4

.717

%

,

12/12/26

...

3,306

3,093

a

9207488.SQ.FTS.B

,

4

.721

%

,

12/12/26

...

8,294

7,759

a

9204266.SQ.FTS.B

,

4

.741

%

,

12/12/26

...

1,447

1,353

a

9204308.SQ.FTS.B

,

4

.78

%

,

12/12/26

....

551

515

a

9204961.SQ.FTS.B

,

5

.031

%

,

12/12/26

...

9,086

8,467

a

9205791.SQ.FTS.B

,

5

.031

%

,

12/12/26

...

17,172

15,992

a

9206195.SQ.FTS.B

,

5

.031

%

,

12/12/26

...

29,126

27,136

a

9205054.SQ.FTS.B

,

5

.343

%

,

12/12/26

...

2,418

2,243

a

9204558.SQ.FTS.B

,

5

.59

%

,

12/12/26

....

4,507

4,166

a

9204606.SQ.FTS.B

,

5

.595

%

,

12/12/26

...

6,699

6,185

a

9205458.SQ.FTS.B

,

5

.597

%

,

12/12/26

...

21,876

20,208

a

9207766.SQ.FTS.B

,

5

.597

%

,

12/12/26

...

19,031

17,569

a

9204292.SQ.FTS.B

,

5

.604

%

,

12/12/26

...

1,717

1,583

a

9205082.SQ.FTS.B

,

5

.621

%

,

12/12/26

...

2,303

2,104

a

9203021.SQ.FTS.B

,

5

.623

%

,

12/12/26

...

967

893

a

9203745.SQ.FTS.B

,

5

.628

%

,

12/12/26

...

2,146

1,977

a

9207230.SQ.FTS.B

,

5

.724

%

,

12/12/26

...

4,207

3,875

a

9203776.SQ.FTS.B

,

5

.915

%

,

12/12/26

...

9,661

8,868

a

9206088.SQ.FTS.B

,

6

.1

%

,

12/12/26

.....

8,455

7,735

a

9204844.SQ.FTS.B

,

6

.101

%

,

12/12/26

...

9,805

9,002

a

9203378.SQ.FTS.B

,

6

.103

%

,

12/12/26

...

16,980

15,574

a

9204347.SQ.FTS.B

,

6

.445

%

,

12/12/26

...

11,487

10,482

a

9206164.SQ.FTS.B

,

6

.445

%

,

12/12/26

...

4,759

4,344

a

9203063.SQ.FTS.B

,

6

.447

%

,

12/12/26

...

21,543

19,630

a

9207579.SQ.FTS.B

,

6

.448

%

,

12/12/26

...

20,335

18,533

a

9207481.SQ.FTS.B

,

6

.478

%

,

12/12/26

...

1,092

995

a

9209637.SQ.FTS.B

,

4

.715

%

,

12/13/26

...

10,261

9,593

a

9210915.SQ.FTS.B

,

4

.715

%

,

12/13/26

...

7,030

6,576

a

9210630.SQ.FTS.B

,

4

.717

%

,

12/13/26

...

7,502

7,016

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

9211048.SQ.FTS.B

,

4

.717

%

,

12/13/26

...

$

2,127

$

1,988

a

9211331.SQ.FTS.B

,

4

.717

%

,

12/13/26

...

29,055

27,181

a

9212050.SQ.FTS.B

,

4

.717

%

,

12/13/26

...

8,476

7,926

a

9210573.SQ.FTS.B

,

5

.024

%

,

12/13/26

...

1,896

1,766

a

9212501.SQ.FTS.B

,

5

.031

%

,

12/13/26

...

97,786

91,008

a

9210274.SQ.FTS.B

,

5

.035

%

,

12/13/26

...

4,036

3,754

a

9211765.SQ.FTS.B

,

5

.343

%

,

12/13/26

...

6,189

5,737

a

9209047.SQ.FTS.B

,

5

.346

%

,

12/13/26

...

21,231

19,677

a

9209626.SQ.FTS.B

,

5

.346

%

,

12/13/26

...

1,064

986

a

9209873.SQ.FTS.B

,

5

.346

%

,

12/13/26

...

10,968

10,168

a

9210378.SQ.FTS.B

,

5

.346

%

,

12/13/26

...

12,366

11,474

a

9211071.SQ.FTS.B

,

5

.346

%

,

12/13/26

...

24,021

22,267

a

9211825.SQ.FTS.B

,

5

.346

%

,

12/13/26

...

22,776

21,127

a

9212166.SQ.FTS.B

,

5

.346

%

,

12/13/26

...

13,934

12,920

a

9212375.SQ.FTS.B

,

5

.346

%

,

12/13/26

...

13,357

12,382

a

9208893.SQ.FTS.B

,

5

.353

%

,

12/13/26

...

4,749

4,403

a

9210004.SQ.FTS.B

,

5

.355

%

,

12/13/26

...

3,816

3,536

a

9207945.SQ.FTS.B

,

5

.597

%

,

12/13/26

...

25,215

23,263

a

9209516.SQ.FTS.B

,

5

.597

%

,

12/13/26

...

9,520

8,799

a

9210339.SQ.FTS.B

,

5

.915

%

,

12/13/26

...

1,580

1,451

a

9208701.SQ.FTS.B

,

6

.099

%

,

12/13/26

...

11,543

10,583

a

9211608.SQ.FTS.B

,

6

.101

%

,

12/13/26

...

15,331

14,059

a

9209498.SQ.FTS.B

,

6

.102

%

,

12/13/26

...

1,333

1,222

a

9209006.SQ.FTS.B

,

6

.11

%

,

12/13/26

....

1,572

1,442

a

9210711.SQ.FTS.B

,

6

.289

%

,

12/13/26

...

14,412

13,170

a

9210888.SQ.FTS.B

,

6

.302

%

,

12/13/26

...

1,195

1,095

a

9210048.SQ.FTS.B

,

6

.448

%

,

12/13/26

...

17,932

16,363

a

9209763.SQ.FTS.B

,

6

.451

%

,

12/13/26

...

8,603

7,866

a

9209608.SQ.FTS.B

,

6

.453

%

,

12/13/26

...

1,450

1,322

a

9208409.SQ.FTS.B

,

6

.665

%

,

12/13/26

...

19,425

17,683

a

9213002.SQ.FTS.B

,

4

.715

%

,

12/14/26

...

10,002

9,352

a

9212786.SQ.FTS.B

,

4

.717

%

,

12/14/26

...

15,178

14,190

a

9213374.SQ.FTS.B

,

4

.945

%

,

12/14/26

...

2,031

1,886

a

9213155.SQ.FTS.B

,

5

.346

%

,

12/14/26

...

20,390

18,899

a

9213392.SQ.FTS.B

,

5

.346

%

,

12/14/26

...

16,289

15,094

a

9213101.SQ.FTS.B

,

5

.475

%

,

12/14/26

...

3,665

3,390

a

9212673.SQ.FTS.B

,

5

.911

%

,

12/14/26

...

19,022

17,468

a

9213136.SQ.FTS.B

,

6

.11

%

,

12/14/26

....

2,044

1,875

a

9212922.SQ.FTS.B

,

6

.114

%

,

12/14/26

...

2,474

2,267

a

9213350.SQ.FTS.B

,

6

.289

%

,

12/14/26

...

2,562

2,336

a

9212886.SQ.FTS.B

,

6

.444

%

,

12/14/26

...

3,145

2,858

a

9212943.SQ.FTS.B

,

6

.451

%

,

12/14/26

...

6,059

5,530

a

9213633.SQ.FTS.B

,

4

.712

%

,

12/15/26

...

5,385

5,037

a

9214010.SQ.FTS.B

,

4

.716

%

,

12/15/26

...

12,312

11,514

a

9214259.SQ.FTS.B

,

4

.719

%

,

12/15/26

...

10,681

9,979

a

9213907.SQ.FTS.B

,

4

.97

%

,

12/15/26

....

861

798

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

93

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

9214159.SQ.FTS.B

,

5

.027

%

,

12/15/26

...

$

6,588

$

6,136

a

9213965.SQ.FTS.B

,

5

.465

%

,

12/15/26

...

3,560

3,295

a

9214350.SQ.FTS.B

,

6

.102

%

,

12/15/26

...

9,026

8,270

a

9213773.SQ.FTS.B

,

6

.104

%

,

12/15/26

...

9,669

8,876

a

9213915.SQ.FTS.B

,

6

.108

%

,

12/15/26

...

4,715

4,323

a

9213556.SQ.FTS.B

,

6

.289

%

,

12/15/26

...

9,669

8,819

a

9213899.SQ.FTS.B

,

6

.434

%

,

12/15/26

...

1,424

1,298

a

9213874.SQ.FTS.B

,

6

.441

%

,

12/15/26

...

1,732

1,584

a

9214205.SQ.FTS.B

,

6

.442

%

,

12/15/26

...

5,870

5,354

a

9213686.SQ.FTS.B

,

6

.445

%

,

12/15/26

...

9,322

8,499

a

9214240.SQ.FTS.B

,

6

.447

%

,

12/15/26

...

2,137

1,951

a

9214101.SQ.FTS.B

,

6

.672

%

,

12/15/26

...

4,416

4,013

a

9216772.SQ.FTS.B

,

4

.712

%

,

12/16/26

...

5,359

5,012

a

9218163.SQ.FTS.B

,

4

.715

%

,

12/16/26

...

10,087

9,433

a

9219202.SQ.FTS.B

,

4

.715

%

,

12/16/26

...

6,168

5,766

a

9219071.SQ.FTS.B

,

4

.717

%

,

12/16/26

...

9,985

9,339

a

9219291.SQ.FTS.B

,

4

.717

%

,

12/16/26

...

111,511

104,298

a

9218380.SQ.FTS.B

,

4

.718

%

,

12/16/26

...

6,474

6,053

a

9215466.SQ.FTS.B

,

4

.719

%

,

12/16/26

...

16,588

15,504

a

9218462.SQ.FTS.B

,

4

.722

%

,

12/16/26

...

7,059

6,599

a

9218556.SQ.FTS.B

,

4

.942

%

,

12/16/26

...

4,331

4,010

a

9218284.SQ.FTS.B

,

4

.958

%

,

12/16/26

...

985

907

a

9219043.SQ.FTS.B

,

5

.017

%

,

12/16/26

...

1,849

1,720

a

9218020.SQ.FTS.B

,

5

.031

%

,

12/16/26

...

13,449

12,526

a

9217978.SQ.FTS.B

,

5

.339

%

,

12/16/26

...

2,985

2,766

a

9218771.SQ.FTS.B

,

5

.346

%

,

12/16/26

...

12,595

11,685

a

9215791.SQ.FTS.B

,

5

.592

%

,

12/16/26

...

5,555

5,131

a

9216439.SQ.FTS.B

,

5

.599

%

,

12/16/26

...

30,675

28,311

a

9218909.SQ.FTS.B

,

5

.6

%

,

12/16/26

.....

13,491

12,453

a

9219279.SQ.FTS.B

,

6

.096

%

,

12/16/26

...

1,384

1,268

a

9216856.SQ.FTS.B

,

6

.101

%

,

12/16/26

...

72,410

66,378

a

9218586.SQ.FTS.B

,

6

.102

%

,

12/16/26

...

13,696

12,558

a

9217910.SQ.FTS.B

,

6

.289

%

,

12/16/26

...

5,394

4,926

a

9215439.SQ.FTS.B

,

6

.438

%

,

12/16/26

...

2,247

2,054

a

9218536.SQ.FTS.B

,

6

.441

%

,

12/16/26

...

1,211

1,095

a

9218279.SQ.FTS.B

,

6

.452

%

,

12/16/26

...

1,748

1,595

a

9218299.SQ.FTS.B

,

6

.454

%

,

12/16/26

...

4,698

4,283

a

9215965.SQ.FTS.B

,

6

.509

%

,

12/16/26

...

25,147

22,945

a

9224148.SQ.FTS.B

,

4

.716

%

,

12/17/26

...

13,445

12,570

a

9222464.SQ.FTS.B

,

4

.717

%

,

12/17/26

...

10,130

9,470

a

9223909.SQ.FTS.B

,

4

.717

%

,

12/17/26

...

16,893

15,798

a

9225370.SQ.FTS.B

,

4

.717

%

,

12/17/26

...

25,097

23,465

a

9226308.SQ.FTS.B

,

4

.717

%

,

12/17/26

...

11,751

10,980

a

9226472.SQ.FTS.B

,

4

.717

%

,

12/17/26

...

66,660

62,304

a

9224987.SQ.FTS.B

,

5

.028

%

,

12/17/26

...

4,371

4,070

a

9227390.SQ.FTS.B

,

5

.346

%

,

12/17/26

...

33,722

31,262

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

9224421.SQ.FTS.B

,

5

.596

%

,

12/17/26

...

$

15,989

$

14,756

a

9227183.SQ.FTS.B

,

5

.723

%

,

12/17/26

...

18,293

16,873

a

9222658.SQ.FTS.B

,

5

.725

%

,

12/17/26

...

23,788

21,925

a

9223506.SQ.FTS.B

,

5

.913

%

,

12/17/26

...

22,403

20,575

a

9222637.SQ.FTS.B

,

6

.08

%

,

12/17/26

....

1,154

1,053

a

9225707.SQ.FTS.B

,

6

.268

%

,

12/17/26

...

1,066

961

a

9222417.SQ.FTS.B

,

6

.436

%

,

12/17/26

...

1,649

1,506

a

9225725.SQ.FTS.B

,

6

.446

%

,

12/17/26

...

57,799

52,692

a

9223307.SQ.FTS.B

,

6

.447

%

,

12/17/26

...

4,383

3,992

a

9224600.SQ.FTS.B

,

6

.45

%

,

12/17/26

....

9,640

8,797

a

9222649.SQ.FTS.B

,

6

.455

%

,

12/17/26

...

2,056

1,877

a

9231498.SQ.FTS.B

,

4

.717

%

,

12/18/26

...

57,389

53,645

a

9231199.SQ.FTS.B

,

4

.719

%

,

12/18/26

...

11,297

10,560

a

9230501.SQ.FTS.B

,

4

.723

%

,

12/18/26

...

5,384

5,030

a

9234203.SQ.FTS.B

,

4

.723

%

,

12/18/26

...

6,092

5,693

a

9235373.SQ.FTS.B

,

4

.725

%

,

12/18/26

...

4,103

3,834

a

9234284.SQ.FTS.B

,

4

.727

%

,

12/18/26

...

3,726

3,483

a

9234342.SQ.FTS.B

,

4

.957

%

,

12/18/26

...

937

871

a

9230943.SQ.FTS.B

,

5

.031

%

,

12/18/26

...

4,490

4,178

a

9231112.SQ.FTS.B

,

5

.031

%

,

12/18/26

...

2,715

2,525

a

9232782.SQ.FTS.B

,

5

.031

%

,

12/18/26

...

5,578

5,191

a

9234878.SQ.FTS.B

,

5

.031

%

,

12/18/26

...

15,516

14,438

a

9235475.SQ.FTS.B

,

5

.031

%

,

12/18/26

...

98,884

92,010

a

9235074.SQ.FTS.B

,

5

.035

%

,

12/18/26

...

3,671

3,417

a

9233935.SQ.FTS.B

,

5

.346

%

,

12/18/26

...

28,604

26,513

a

9234584.SQ.FTS.B

,

5

.346

%

,

12/18/26

...

31,677

29,354

a

9232854.SQ.FTS.B

,

5

.472

%

,

12/18/26

...

26,916

24,872

a

9231043.SQ.FTS.B

,

5

.607

%

,

12/18/26

...

2,598

2,398

a

9235234.SQ.FTS.B

,

5

.641

%

,

12/18/26

...

1,889

1,743

a

9233301.SQ.FTS.B

,

5

.911

%

,

12/18/26

...

33,608

30,886

a

9234570.SQ.FTS.B

,

6

.096

%

,

12/18/26

...

1,127

1,023

a

9234344.SQ.FTS.B

,

6

.1

%

,

12/18/26

.....

20,812

19,074

a

9230685.SQ.FTS.B

,

6

.101

%

,

12/18/26

...

2,267

2,078

a

9235414.SQ.FTS.B

,

6

.441

%

,

12/18/26

...

3,051

2,776

a

9235246.SQ.FTS.B

,

6

.444

%

,

12/18/26

...

6,449

5,877

a

9233883.SQ.FTS.B

,

6

.447

%

,

12/18/26

...

3,999

3,652

a

9235361.SQ.FTS.B

,

6

.447

%

,

12/18/26

...

1,262

1,151

a

9230722.SQ.FTS.B

,

6

.449

%

,

12/18/26

...

12,578

11,479

a

9234304.SQ.FTS.B

,

6

.454

%

,

12/18/26

...

4,725

4,312

a

9235155.SQ.FTS.B

,

6

.506

%

,

12/18/26

...

6,448

5,869

a

9235715.SQ.FTS.B

,

4

.717

%

,

12/19/26

...

2,876

2,687

a

9236008.SQ.FTS.B

,

4

.717

%

,

12/19/26

...

1,354

1,266

a

9236567.SQ.FTS.B

,

4

.717

%

,

12/19/26

...

4,501

4,206

a

9236869.SQ.FTS.B

,

4

.717

%

,

12/19/26

...

27,871

26,045

a

9236018.SQ.FTS.B

,

4

.718

%

,

12/19/26

...

49,717

46,461

a

9235879.SQ.FTS.B

,

4

.719

%

,

12/19/26

...

11,120

10,390

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

94

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

9235964.SQ.FTS.B

,

4

.725

%

,

12/19/26

...

$

2,698

$

2,521

a

9236561.SQ.FTS.B

,

5

.031

%

,

12/19/26

...

263

243

a

9236589.SQ.FTS.B

,

5

.031

%

,

12/19/26

...

10,569

9,833

a

9236652.SQ.FTS.B

,

5

.031

%

,

12/19/26

...

5,655

5,262

a

9236750.SQ.FTS.B

,

5

.031

%

,

12/19/26

...

20,100

18,700

a

9236281.SQ.FTS.B

,

5

.348

%

,

12/19/26

...

20,155

18,663

a

9236387.SQ.FTS.B

,

5

.593

%

,

12/19/26

...

4,693

4,331

a

9236692.SQ.FTS.B

,

5

.594

%

,

12/19/26

...

6,776

6,250

a

9235738.SQ.FTS.B

,

5

.598

%

,

12/19/26

...

14,751

13,616

a

9235666.SQ.FTS.B

,

5

.726

%

,

12/19/26

...

4,378

4,035

a

9236419.SQ.FTS.B

,

6

.101

%

,

12/19/26

...

11,400

10,441

a

9235840.SQ.FTS.B

,

6

.103

%

,

12/19/26

...

2,962

2,717

a

9235986.SQ.FTS.B

,

6

.289

%

,

12/19/26

...

2,810

2,569

a

9235869.SQ.FTS.B

,

6

.436

%

,

12/19/26

...

1,729

1,575

a

9236686.SQ.FTS.B

,

6

.447

%

,

12/19/26

...

895

815

a

9236517.SQ.FTS.B

,

6

.45

%

,

12/19/26

....

11,568

10,525

a

9236501.SQ.FTS.B

,

6

.455

%

,

12/19/26

...

4,305

3,925

a

9239713.SQ.FTS.B

,

4

.716

%

,

12/20/26

...

4,547

4,249

a

9238798.SQ.FTS.B

,

4

.717

%

,

12/20/26

...

4,490

4,197

a

9239008.SQ.FTS.B

,

4

.717

%

,

12/20/26

...

4,382

4,094

a

9241854.SQ.FTS.B

,

4

.717

%

,

12/20/26

...

28,045

26,210

a

9238885.SQ.FTS.B

,

4

.718

%

,

12/20/26

...

6,322

5,909

a

9239082.SQ.FTS.B

,

4

.719

%

,

12/20/26

...

10,493

9,805

a

9240373.SQ.FTS.B

,

4

.721

%

,

12/20/26

...

9,683

9,048

a

9239061.SQ.FTS.B

,

4

.895

%

,

12/20/26

...

842

785

a

9241302.SQ.FTS.B

,

4

.936

%

,

12/20/26

...

19,803

18,420

a

9240102.SQ.FTS.B

,

4

.948

%

,

12/20/26

...

1,585

1,469

a

9238922.SQ.FTS.B

,

5

.031

%

,

12/20/26

...

8,030

7,472

a

9239257.SQ.FTS.B

,

5

.031

%

,

12/20/26

...

10,113

9,411

a

9240446.SQ.FTS.B

,

5

.031

%

,

12/20/26

...

23,831

22,174

a

9241135.SQ.FTS.B

,

5

.031

%

,

12/20/26

...

15,315

14,248

a

9241430.SQ.FTS.B

,

5

.031

%

,

12/20/26

...

16,657

15,495

a

9241729.SQ.FTS.B

,

5

.031

%

,

12/20/26

...

2,017

1,877

a

9240141.SQ.FTS.B

,

5

.348

%

,

12/20/26

...

13,925

12,897

a

9241767.SQ.FTS.B

,

5

.351

%

,

12/20/26

...

7,574

7,017

a

9239485.SQ.FTS.B

,

5

.599

%

,

12/20/26

...

4,449

4,103

a

9237831.SQ.FTS.B

,

5

.6

%

,

12/20/26

.....

8,751

8,078

a

9238073.SQ.FTS.B

,

5

.9

%

,

12/20/26

.....

2,641

2,427

a

9240702.SQ.FTS.B

,

5

.912

%

,

12/20/26

...

36,632

33,681

a

9238145.SQ.FTS.B

,

5

.924

%

,

12/20/26

...

1,745

1,603

a

9238758.SQ.FTS.B

,

6

.11

%

,

12/20/26

....

2,430

2,226

a

9238216.SQ.FTS.B

,

6

.275

%

,

12/20/26

...

938

855

a

9241643.SQ.FTS.B

,

6

.307

%

,

12/20/26

...

815

744

a

9241668.SQ.FTS.B

,

6

.434

%

,

12/20/26

...

1,507

1,376

a

9241678.SQ.FTS.B

,

6

.437

%

,

12/20/26

...

2,775

2,529

a

9241283.SQ.FTS.B

,

6

.443

%

,

12/20/26

...

2,468

2,249

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

9238272.SQ.FTS.B

,

6

.447

%

,

12/20/26

...

$

22,308

$

20,367

a

9239810.SQ.FTS.B

,

6

.448

%

,

12/20/26

...

17,089

15,603

a

9240259.SQ.FTS.B

,

6

.448

%

,

12/20/26

...

9,574

8,715

a

9241126.SQ.FTS.B

,

6

.45

%

,

12/20/26

....

2,903

2,649

a

9239598.SQ.FTS.B

,

6

.453

%

,

12/20/26

...

5,642

5,145

a

9241076.SQ.FTS.B

,

6

.453

%

,

12/20/26

...

2,987

2,724

a

9241053.SQ.FTS.B

,

6

.457

%

,

12/20/26

...

1,706

1,556

a

9243155.SQ.FTS.B

,

4

.717

%

,

12/21/26

...

22,456

20,984

a

9243330.SQ.FTS.B

,

4

.717

%

,

12/21/26

...

14,649

13,690

a

9242922.SQ.FTS.B

,

5

.026

%

,

12/21/26

...

2,868

2,669

a

9243442.SQ.FTS.B

,

5

.348

%

,

12/21/26

...

7,238

6,706

a

9242880.SQ.FTS.B

,

5

.603

%

,

12/21/26

...

5,501

5,074

a

9243573.SQ.FTS.B

,

6

.08

%

,

12/21/26

....

1,388

1,273

a

9243532.SQ.FTS.B

,

6

.102

%

,

12/21/26

...

6,651

6,094

a

9242949.SQ.FTS.B

,

6

.289

%

,

12/21/26

...

27,096

24,738

a

9243622.SQ.FTS.B

,

6

.441

%

,

12/21/26

...

5,103

4,658

a

9243587.SQ.FTS.B

,

6

.445

%

,

12/21/26

...

5,116

4,650

a

9242847.SQ.FTS.B

,

6

.447

%

,

12/21/26

...

3,069

2,801

a

9243499.SQ.FTS.B

,

6

.447

%

,

12/21/26

...

5,251

4,782

a

9244317.SQ.FTS.B

,

4

.717

%

,

12/22/26

...

7,793

7,282

a

9244088.SQ.FTS.B

,

4

.722

%

,

12/22/26

...

6,034

5,638

a

9243792.SQ.FTS.B

,

5

.031

%

,

12/22/26

...

3,098

2,882

a

9243928.SQ.FTS.B

,

5

.031

%

,

12/22/26

...

3,247

3,021

a

9244119.SQ.FTS.B

,

5

.162

%

,

12/22/26

...

6,529

6,063

a

9243956.SQ.FTS.B

,

5

.348

%

,

12/22/26

...

19,694

18,246

a

9243690.SQ.FTS.B

,

5

.595

%

,

12/22/26

...

5,449

5,029

a

9243818.SQ.FTS.B

,

5

.599

%

,

12/22/26

...

5,929

5,475

a

9243906.SQ.FTS.B

,

6

.094

%

,

12/22/26

...

3,355

3,077

a

9243739.SQ.FTS.B

,

6

.1

%

,

12/22/26

.....

2,229

2,044

a

9243725.SQ.FTS.B

,

6

.265

%

,

12/22/26

...

1,206

1,103

a

9243854.SQ.FTS.B

,

6

.285

%

,

12/22/26

...

6,252

5,719

a

9244302.SQ.FTS.B

,

6

.431

%

,

12/22/26

...

1,748

1,595

a

9244168.SQ.FTS.B

,

6

.445

%

,

12/22/26

...

7,262

6,617

a

9243669.SQ.FTS.B

,

6

.447

%

,

12/22/26

...

1,915

1,746

a

9244364.SQ.FTS.B

,

6

.447

%

,

12/22/26

...

41,730

38,028

a

9244215.SQ.FTS.B

,

6

.448

%

,

12/22/26

...

12,422

11,319

a

9243760.SQ.FTS.B

,

6

.453

%

,

12/22/26

...

4,379

3,993

a

9246270.SQ.FTS.B

,

4

.717

%

,

12/23/26

...

17,352

16,216

a

9248019.SQ.FTS.B

,

4

.717

%

,

12/23/26

...

5,605

5,237

a

9249476.SQ.FTS.B

,

4

.717

%

,

12/23/26

...

28,469

26,602

a

9246423.SQ.FTS.B

,

4

.719

%

,

12/23/26

...

9,160

8,558

a

9249287.SQ.FTS.B

,

4

.72

%

,

12/23/26

....

12,841

11,997

a

9245392.SQ.FTS.B

,

5

.031

%

,

12/23/26

...

8,557

7,962

a

9245700.SQ.FTS.B

,

5

.031

%

,

12/23/26

...

1,075

999

a

9245767.SQ.FTS.B

,

5

.031

%

,

12/23/26

...

19,981

18,586

a

9246582.SQ.FTS.B

,

5

.031

%

,

12/23/26

...

44,704

41,511

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

95

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

9247306.SQ.FTS.B

,

5

.338

%

,

12/23/26

...

$

3,217

$

2,975

a

9248661.SQ.FTS.B

,

5

.346

%

,

12/23/26

...

25,935

24,024

a

9247841.SQ.FTS.B

,

5

.596

%

,

12/23/26

...

13,084

12,070

a

9247508.SQ.FTS.B

,

5

.63

%

,

12/23/26

....

22,789

20,981

a

9247438.SQ.FTS.B

,

5

.66

%

,

12/23/26

....

897

827

a

9247347.SQ.FTS.B

,

6

.101

%

,

12/23/26

...

8,099

7,428

a

9245353.SQ.FTS.B

,

6

.281

%

,

12/23/26

...

1,763

1,613

a

9249112.SQ.FTS.B

,

6

.289

%

,

12/23/26

...

12,652

11,537

a

9249028.SQ.FTS.B

,

6

.438

%

,

12/23/26

...

2,973

2,711

a

9249410.SQ.FTS.B

,

6

.443

%

,

12/23/26

...

4,842

4,408

a

9247458.SQ.FTS.B

,

6

.447

%

,

12/23/26

...

2,782

2,539

a

9248114.SQ.FTS.B

,

6

.447

%

,

12/23/26

...

31,884

29,070

a

9248581.SQ.FTS.B

,

6

.447

%

,

12/23/26

...

3,053

2,783

a

9249258.SQ.FTS.B

,

6

.453

%

,

12/23/26

...

2,766

2,520

a

9249089.SQ.FTS.B

,

6

.454

%

,

12/23/26

...

1,128

1,028

a

9249448.SQ.FTS.B

,

6

.46

%

,

12/23/26

....

1,988

1,812

a

9250466.SQ.FTS.B

,

4

.71

%

,

12/24/26

....

2,913

2,722

a

9251428.SQ.FTS.B

,

4

.717

%

,

12/24/26

...

14,793

13,821

a

9251824.SQ.FTS.B

,

4

.717

%

,

12/24/26

...

11,901

11,119

a

9254106.SQ.FTS.B

,

4

.717

%

,

12/24/26

...

3,816

3,565

a

9254201.SQ.FTS.B

,

4

.718

%

,

12/24/26

...

42,493

39,708

a

9254627.SQ.FTS.B

,

4

.72

%

,

12/24/26

....

11,642

10,878

a

9251330.SQ.FTS.B

,

4

.92

%

,

12/24/26

....

742

689

a

9251589.SQ.FTS.B

,

5

.02

%

,

12/24/26

....

2,477

2,305

a

9251708.SQ.FTS.B

,

5

.029

%

,

12/24/26

...

6,874

6,396

a

9250535.SQ.FTS.B

,

5

.031

%

,

12/24/26

...

21,082

19,601

a

9252046.SQ.FTS.B

,

5

.031

%

,

12/24/26

...

28,741

26,738

a

9252486.SQ.FTS.B

,

5

.031

%

,

12/24/26

...

25,226

23,453

a

9252744.SQ.FTS.B

,

5

.347

%

,

12/24/26

...

48,585

44,999

a

9253242.SQ.FTS.B

,

5

.348

%

,

12/24/26

...

20,038

18,563

a

9253489.SQ.FTS.B

,

5

.597

%

,

12/24/26

...

57,590

53,144

a

9253430.SQ.FTS.B

,

5

.605

%

,

12/24/26

...

3,907

3,607

a

9251624.SQ.FTS.B

,

5

.917

%

,

12/24/26

...

5,465

5,019

a

9254146.SQ.FTS.B

,

6

.091

%

,

12/24/26

...

3,267

2,993

a

9251282.SQ.FTS.B

,

6

.097

%

,

12/24/26

...

2,418

2,217

a

9250357.SQ.FTS.B

,

6

.102

%

,

12/24/26

...

5,600

5,135

a

9251272.SQ.FTS.B

,

6

.275

%

,

12/24/26

...

1,912

1,744

a

9251976.SQ.FTS.B

,

6

.284

%

,

12/24/26

...

2,691

2,461

a

9251348.SQ.FTS.B

,

6

.289

%

,

12/24/26

...

6,817

6,227

a

9254608.SQ.FTS.B

,

6

.289

%

,

12/24/26

...

1,276

1,167

a

9249904.SQ.FTS.B

,

6

.301

%

,

12/24/26

...

2,564

2,344

a

9249965.SQ.FTS.B

,

6

.446

%

,

12/24/26

...

20,012

18,236

a

9251264.SQ.FTS.B

,

6

.478

%

,

12/24/26

...

1,163

1,061

a

9258174.SQ.FTS.B

,

4

.714

%

,

12/25/26

...

6,007

5,612

a

9256367.SQ.FTS.B

,

4

.717

%

,

12/25/26

...

29,737

27,784

a

9257526.SQ.FTS.B

,

4

.717

%

,

12/25/26

...

78,880

73,693

Description

Principal

Amount

Value

Block,

Inc.

(continued)

a

9258995.SQ.FTS.B

,

4

.717

%

,

12/25/26

...

$

29,283

$

27,360

a

9254874.SQ.FTS.B

,

4

.718

%

,

12/25/26

...

60,768

56,765

a

9259409.SQ.FTS.B

,

4

.719

%

,

12/25/26

...

15,323

14,316

a

9257421.SQ.FTS.B

,

4

.72

%

,

12/25/26

....

12,590

11,763

a

9256270.SQ.FTS.B

,

4

.723

%

,

12/25/26

...

5,596

5,228

a

9257371.SQ.FTS.B

,

4

.734

%

,

12/25/26

...

2,157

2,015

a

9258369.SQ.FTS.B

,

5

.472

%

,

12/25/26

...

39,342

36,378

a

9258210.SQ.FTS.B

,

5

.598

%

,

12/25/26

...

25,196

23,252

a

9258130.SQ.FTS.B

,

5

.92

%

,

12/25/26

....

3,468

3,186

a

9256223.SQ.FTS.B

,

5

.924

%

,

12/25/26

...

2,343

2,153

a

9258352.SQ.FTS.B

,

6

.091

%

,

12/25/26

...

2,198

2,015

a

9257384.SQ.FTS.B

,

6

.1

%

,

12/25/26

.....

6,583

6,032

a

9258787.SQ.FTS.B

,

6

.1

%

,

12/25/26

.....

18,769

17,204

a

9256744.SQ.FTS.B

,

6

.432

%

,

12/25/26

...

1,213

1,106

a

9254753.SQ.FTS.B

,

6

.436

%

,

12/25/26

...

2,685

2,450

a

9256751.SQ.FTS.B

,

6

.447

%

,

12/25/26

...

54,087

49,315

a

9259286.SQ.FTS.B

,

6

.447

%

,

12/25/26

...

13,760

12,546

5989835.SQ.FTS.B

,

5

.158

%

,

4/13/34

....

3,543

–

5994040.SQ.FTS.B

,

5

.157

%

,

4/14/34

....

6,214

–

5996474.SQ.FTS.B

,

4

.843

%

,

4/15/34

....

17,017

–

5997475.SQ.FTS.B

,

4

.43

%

,

4/16/34

.....

1,656

–

5997200.SQ.FTS.B

,

5

.097

%

,

4/16/34

....

2,782

–

5997611.SQ.FTS.B

,

5

.182

%

,

4/16/34

....

595

–

6000301.SQ.FTS.B

,

5

.093

%

,

4/17/34

....

3,546

–

6004440.SQ.FTS.B

,

4

.732

%

,

4/18/34

....

1,108

–

6001577.SQ.FTS.B

,

5

.151

%

,

4/18/34

....

1,056

–

6011390.SQ.FTS.B

,

5

.288

%

,

4/20/34

....

1,154

–

6015092.SQ.FTS.B

,

4

.748

%

,

4/21/34

....

3,643

–

6014890.SQ.FTS.B

,

4

.906

%

,

4/21/34

....

9,174

1

6013648.SQ.FTS.B

,

4

.944

%

,

4/21/34

....

1,455

–

6012758.SQ.FTS.B

,

5

.035

%

,

4/21/34

....

723

–

6014070.SQ.FTS.B

,

5

.04

%

,

4/21/34

.....

807

–

6012911.SQ.FTS.B

,

5

.521

%

,

4/21/34

....

2,149

–

6016148.SQ.FTS.B

,

5

.158

%

,

4/22/34

....

5,838

–

6015930.SQ.FTS.B

,

5

.191

%

,

4/22/34

....

575

–

6016033.SQ.FTS.B

,

5

.427

%

,

4/22/34

....

411

–

6017013.SQ.FTS.B

,

5

.183

%

,

4/23/34

....

1,385

–

6022765.SQ.FTS.B

,

4

.749

%

,

4/25/34

....

4,447

–

6021095.SQ.FTS.B

,

5

.183

%

,

4/25/34

....

1,600

–

6026172.SQ.FTS.B

,

4

.002

%

,

4/26/34

....

322

–

6024576.SQ.FTS.B

,

4

.74

%

,

4/26/34

.....

1,276

–

6024861.SQ.FTS.B

,

5

.431

%

,

4/26/34

....

2,667

–

6029494.SQ.FTS.B

,

4

.71

%

,

4/27/34

.....

1,298

–

6032730.SQ.FTS.B

,

5

.44

%

,

4/27/34

.....

389

–

6036691.SQ.FTS.B

,

4

.307

%

,

4/28/34

....

2,479

–

6041346.SQ.FTS.B

,

4

.725

%

,

4/30/34

....

1,333

–

6048225.SQ.FTS.B

,

4

.528

%

,

5/02/34

....

8,214

–

6054550.SQ.FTS.B

,

5

.285

%

,

5/03/34

....

4,497

–

6057387.SQ.FTS.B

,

5

.53

%

,

5/04/34

.....

1,675

–

6058469.SQ.FTS.B

,

5

.446

%

,

5/05/34

....

1,557

–

6062778.SQ.FTS.B

,

5

.554

%

,

5/07/34

....

305

–

6120695.SQ.FTS.B

,

4

.75

%

,

5/09/34

.....

16,890

–

6124160.SQ.FTS.B

,

5

.377

%

,

5/10/34

....

3,491

–

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

96

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

6126546.SQ.FTS.B

,

4

.906

%

,

5/12/34

....

$

19,042

$

–

6126842.SQ.FTS.B

,

5

.561

%

,

5/13/34

....

637

–

6133881.SQ.FTS.B

,

4

.75

%

,

5/15/34

.....

2,378

–

6131558.SQ.FTS.B

,

5

.281

%

,

5/15/34

....

3,700

–

6131519.SQ.FTS.B

,

5

.381

%

,

5/15/34

....

1,418

–

6134817.SQ.FTS.B

,

5

.535

%

,

5/15/34

....

2,697

–

6135260.SQ.FTS.B

,

5

.427

%

,

5/16/34

....

1,443

–

6146677.SQ.FTS.B

,

4

.308

%

,

5/18/34

....

8,942

–

6151394.SQ.FTS.B

,

4

.308

%

,

5/21/34

....

5,927

–

6150788.SQ.FTS.B

,

4

.749

%

,

5/21/34

....

14,529

1

6149304.SQ.FTS.B

,

5

.405

%

,

5/21/34

....

401

–

6153438.SQ.FTS.B

,

4

.906

%

,

5/22/34

....

7,548

–

6157908.SQ.FTS.B

,

4

.749

%

,

5/23/34

....

1,842

–

6157628.SQ.FTS.B

,

5

.44

%

,

5/23/34

.....

4,793

–

6159034.SQ.FTS.B

,

5

.535

%

,

5/23/34

....

7,919

1

6164713.SQ.FTS.B

,

5

.418

%

,

5/25/34

....

395

–

6163607.SQ.FTS.B

,

5

.453

%

,

5/25/34

....

1,355

–

6166473.SQ.FTS.B

,

4

.527

%

,

5/28/34

....

5,156

–

6169281.SQ.FTS.B

,

4

.724

%

,

5/28/34

....

242

–

6169671.SQ.FTS.B

,

4

.528

%

,

5/29/34

....

2,580

–

6172125.SQ.FTS.B

,

5

.031

%

,

5/29/34

....

3,361

–

6176406.SQ.FTS.B

,

4

.749

%

,

5/30/34

....

11,958

–

6174157.SQ.FTS.B

,

5

.441

%

,

5/30/34

....

1,917

–

6176070.SQ.FTS.B

,

5

.565

%

,

5/30/34

....

662

–

6186681.SQ.FTS.B

,

5

.152

%

,

6/04/34

....

628

–

6191126.SQ.FTS.B

,

4

.528

%

,

6/05/34

....

1,433

–

6188827.SQ.FTS.B

,

4

.793

%

,

6/05/34

....

314

–

6194847.SQ.FTS.B

,

4

.748

%

,

6/06/34

....

2,674

–

6193329.SQ.FTS.B

,

5

.377

%

,

6/06/34

....

4,275

–

6199807.SQ.FTS.B

,

4

.754

%

,

6/07/34

....

2,588

–

6200483.SQ.FTS.B

,

5

.283

%

,

6/07/34

....

3,807

–

6207918.SQ.FTS.B

,

5

.534

%

,

6/09/34

....

14,807

–

6207882.SQ.FTS.B

,

5

.543

%

,

6/09/34

....

1,369

–

6210686.SQ.FTS.B

,

5

.157

%

,

6/11/34

....

2,739

–

6214585.SQ.FTS.B

,

5

.382

%

,

6/12/34

....

2,893

–

6213956.SQ.FTS.B

,

5

.53

%

,

6/12/34

.....

3,141

–

6217157.SQ.FTS.B

,

5

.456

%

,

6/13/34

....

272

–

6220890.SQ.FTS.B

,

5

.031

%

,

6/14/34

....

11,147

–

6226697.SQ.FTS.B

,

4

.309

%

,

6/15/34

....

6,802

–

6225158.SQ.FTS.B

,

4

.527

%

,

6/15/34

....

3,256

–

6226524.SQ.FTS.B

,

5

.281

%

,

6/15/34

....

2,241

–

6228233.SQ.FTS.B

,

5

.047

%

,

6/16/34

....

24

–

6229176.SQ.FTS.B

,

5

.281

%

,

6/16/34

....

4,816

–

6242053.SQ.FTS.B

,

4

.744

%

,

6/20/34

....

3,405

–

6242376.SQ.FTS.B

,

5

.251

%

,

6/20/34

....

5,760

–

6254118.SQ.FTS.B

,

4

.969

%

,

6/23/34

....

10,644

1

6254961.SQ.FTS.B

,

5

.472

%

,

6/23/34

....

5,460

–

6253221.SQ.FTS.B

,

5

.598

%

,

6/23/34

....

28,281

–

6252808.SQ.FTS.B

,

5

.601

%

,

6/23/34

....

5,809

–

6254832.SQ.FTS.B

,

5

.759

%

,

6/23/34

....

2,498

–

6255052.SQ.FTS.B

,

5

.597

%

,

6/24/34

....

307

–

6255882.SQ.FTS.B

,

5

.757

%

,

6/25/34

....

515

–

6259203.SQ.FTS.B

,

4

.759

%

,

6/27/34

....

445

–

6257645.SQ.FTS.B

,

5

.031

%

,

6/27/34

....

683

–

6259245.SQ.FTS.B

,

5

.75

%

,

6/27/34

.....

616

–

6260850.SQ.FTS.B

,

4

.969

%

,

6/28/34

....

22,653

–

6267406.SQ.FTS.B

,

5

.373

%

,

6/29/34

....

6,092

–

Description

Principal

Amount

Value

Block,

Inc.

(continued)

6271064.SQ.FTS.B

,

4

.748

%

,

6/30/34

....

$

1,555

$

–

6271110.SQ.FTS.B

,

4

.757

%

,

6/30/34

....

791

–

6269741.SQ.FTS.B

,

5

.031

%

,

6/30/34

....

7,237

1

6268263.SQ.FTS.B

,

5

.247

%

,

6/30/34

....

1,775

–

6268433.SQ.FTS.B

,

5

.258

%

,

6/30/34

....

284

–

6268142.SQ.FTS.B

,

5

.6

%

,

6/30/34

......

4,489

–

6271589.SQ.FTS.B

,

5

.445

%

,

7/01/34

....

1,098

–

6274032.SQ.FTS.B

,

5

.66

%

,

7/03/34

.....

2,950

–

6277193.SQ.FTS.B

,

5

.608

%

,

7/04/34

....

1,122

–

6282655.SQ.FTS.B

,

5

.66

%

,

7/05/34

.....

1,878

–

6285379.SQ.FTS.B

,

5

.743

%

,

7/06/34

....

295

–

6285826.SQ.FTS.B

,

5

.473

%

,

7/07/34

....

11,789

–

6286529.SQ.FTS.B

,

5

.748

%

,

7/08/34

....

439

–

6290705.SQ.FTS.B

,

5

.475

%

,

7/10/34

....

2,878

–

6290686.SQ.FTS.B

,

5

.488

%

,

7/10/34

....

440

–

6302451.SQ.FTS.B

,

5

.66

%

,

7/13/34

.....

48,897

–

6303731.SQ.FTS.B

,

4

.733

%

,

7/14/34

....

260

–

6305199.SQ.FTS.B

,

5

.425

%

,

7/16/34

....

399

–

6307843.SQ.FTS.B

,

5

.754

%

,

7/17/34

....

53,032

6

6308638.SQ.FTS.B

,

4

.749

%

,

7/18/34

....

12,615

1

6317901.SQ.FTS.B

,

5

.754

%

,

7/20/34

....

928

1

6320015.SQ.FTS.B

,

5

.25

%

,

7/21/34

.....

2,205

–

6351220.SQ.FTS.B

,

5

.25

%

,

7/23/34

.....

7,497

–

6335477.SQ.FTS.B

,

5

.387

%

,

7/23/34

....

557

–

6362559.SQ.FTS.B

,

5

.127

%

,

7/26/34

....

26,180

1

6369651.SQ.FTS.B

,

4

.528

%

,

7/30/34

....

170

76

6368537.SQ.FTS.B

,

5

.66

%

,

7/30/34

.....

276

–

6372459.SQ.FTS.B

,

5

.376

%

,

7/31/34

....

2,642

–

6374829.SQ.FTS.B

,

5

.129

%

,

8/01/34

....

5,779

–

6379217.SQ.FTS.B

,

5

.262

%

,

8/02/34

....

478

–

6381758.SQ.FTS.B

,

5

.475

%

,

8/02/34

....

2,586

–

6382230.SQ.FTS.B

,

5

.479

%

,

8/03/34

....

1,124

–

6386123.SQ.FTS.B

,

5

.252

%

,

8/05/34

....

3,613

–

6395381.SQ.FTS.B

,

4

.966

%

,

8/08/34

....

1,358

1

6394978.SQ.FTS.B

,

5

.752

%

,

8/08/34

....

2,823

–

6399623.SQ.FTS.B

,

5

.374

%

,

8/09/34

....

3,629

–

6399808.SQ.FTS.B

,

5

.442

%

,

8/09/34

....

5,425

1

6401578.SQ.FTS.B

,

5

.254

%

,

8/10/34

....

2,229

–

6404470.SQ.FTS.B

,

5

.251

%

,

8/11/34

....

11,152

2

6404013.SQ.FTS.B

,

5

.66

%

,

8/11/34

.....

1,738

–

6404711.SQ.FTS.B

,

5

.603

%

,

8/12/34

....

2,111

1

6408982.SQ.FTS.B

,

4

.743

%

,

8/14/34

....

2,687

2

6412313.SQ.FTS.B

,

4

.75

%

,

8/15/34

.....

2,377

–

6423457.SQ.FTS.B

,

4

.747

%

,

8/17/34

....

547

1

6429072.SQ.FTS.B

,

5

.379

%

,

8/21/34

....

513

–

6427445.SQ.FTS.B

,

5

.439

%

,

8/21/34

....

6,571

9

6427032.SQ.FTS.B

,

5

.441

%

,

8/21/34

....

1,472

1

6433271.SQ.FTS.B

,

4

.742

%

,

8/22/34

....

3,084

1

6439919.SQ.FTS.B

,

5

.375

%

,

8/23/34

....

4,906

2

6439336.SQ.FTS.B

,

5

.377

%

,

8/23/34

....

10,031

2

6443722.SQ.FTS.B

,

5

.377

%

,

8/24/34

....

11,723

17

6443946.SQ.FTS.B

,

5

.447

%

,

8/24/34

....

2,284

1

6443705.SQ.FTS.B

,

5

.757

%

,

8/24/34

....

1,309

–

6450204.SQ.FTS.B

,

4

.969

%

,

8/28/34

....

1,484

1

6454476.SQ.FTS.B

,

5

.251

%

,

9/01/34

....

2,565

2

6463165.SQ.FTS.B

,

4

.974

%

,

9/03/34

....

850

1

6472563.SQ.FTS.B

,

5

.474

%

,

9/07/34

....

1,124

1

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

97

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

6480025.SQ.FTS.B

,

4

.528

%

,

9/09/34

....

$

6,855

$

11

6481471.SQ.FTS.B

,

5

.252

%

,

9/10/34

....

56,731

14

6484508.SQ.FTS.B

,

5

.737

%

,

9/10/34

....

907

1

6484990.SQ.FTS.B

,

5

.379

%

,

9/11/34

....

8,174

2

6485599.SQ.FTS.B

,

5

.595

%

,

9/11/34

....

3,350

3

6488534.SQ.FTS.B

,

5

.66

%

,

9/13/34

.....

4,069

5

6490032.SQ.FTS.B

,

5

.66

%

,

9/13/34

.....

1,366

3

6493901.SQ.FTS.B

,

4

.747

%

,

9/15/34

....

1,341

1

6495272.SQ.FTS.B

,

5

.383

%

,

9/15/34

....

2,996

1

6493807.SQ.FTS.B

,

5

.678

%

,

9/15/34

....

798

–

6499390.SQ.FTS.B

,

4

.753

%

,

9/16/34

....

1,905

4

6499466.SQ.FTS.B

,

4

.971

%

,

9/16/34

....

2,079

2

6499066.SQ.FTS.B

,

5

.132

%

,

9/16/34

....

2,376

2

6505651.SQ.FTS.B

,

5

.126

%

,

9/17/34

....

11,018

23

6504331.SQ.FTS.B

,

5

.251

%

,

9/17/34

....

16,006

29

6510199.SQ.FTS.B

,

5

.377

%

,

9/20/34

....

3,748

3

6509842.SQ.FTS.B

,

5

.758

%

,

9/20/34

....

5,661

5

6514993.SQ.FTS.B

,

4

.748

%

,

9/22/34

....

11,666

16

6526438.SQ.FTS.B

,

5

.471

%

,

9/26/34

....

2,043

3

6528470.SQ.FTS.B

,

4

.527

%

,

9/27/34

....

5,896

8

6533471.SQ.FTS.B

,

5

.66

%

,

9/28/34

.....

5,455

5

6537833.SQ.FTS.B

,

4

.963

%

,

9/29/34

....

4,274

4

6546339.SQ.FTS.B

,

5

.031

%

,

9/30/34

....

3,311

4

6539774.SQ.FTS.B

,

5

.438

%

,

9/30/34

....

7,745

9

6545017.SQ.FTS.B

,

5

.438

%

,

9/30/34

....

5,479

5

6547912.SQ.FTS.B

,

5

.756

%

,

10/02/34

...

3,479

4

6550386.SQ.FTS.B

,

4

.842

%

,

10/03/34

...

3,804

5

6551364.SQ.FTS.B

,

5

.595

%

,

10/03/34

...

3,356

86

6551325.SQ.FTS.B

,

5

.597

%

,

10/03/34

...

1,077

1

6551310.SQ.FTS.B

,

5

.678

%

,

10/03/34

...

1,637

2

6551899.SQ.FTS.B

,

4

.528

%

,

10/04/34

...

1,713

4

6552179.SQ.FTS.B

,

5

.6

%

,

10/04/34

.....

1,236

3

6552833.SQ.FTS.B

,

5

.676

%

,

10/04/34

...

1,914

2

6557212.SQ.FTS.B

,

6

.167

%

,

10/05/34

...

393

1

6560669.SQ.FTS.B

,

5

.595

%

,

10/06/34

...

297

10

6564200.SQ.FTS.B

,

5

.564

%

,

10/07/34

...

1,611

346

6565297.SQ.FTS.B

,

5

.667

%

,

10/07/34

...

2,245

3

6566308.SQ.FTS.B

,

5

.205

%

,

10/08/34

...

588

5

6568787.SQ.FTS.B

,

4

.654

%

,

10/10/34

...

2,135

3

6570635.SQ.FTS.B

,

5

.757

%

,

10/10/34

...

197

2

6569379.SQ.FTS.B

,

5

.759

%

,

10/10/34

...

6,083

16

6573435.SQ.FTS.B

,

4

.751

%

,

10/11/34

...

434

–

6575505.SQ.FTS.B

,

5

.561

%

,

10/12/34

...

825

114

6574600.SQ.FTS.B

,

5

.99

%

,

10/12/34

....

466

1

6583381.SQ.FTS.B

,

4

.299

%

,

10/13/34

...

1,860

2

6584064.SQ.FTS.B

,

5

.184

%

,

10/14/34

...

1,498

229

6584703.SQ.FTS.B

,

5

.377

%

,

10/14/34

...

1,023

10

6584507.SQ.FTS.B

,

5

.752

%

,

10/14/34

...

29

4

6586628.SQ.FTS.B

,

5

.766

%

,

10/15/34

...

423

1

6591557.SQ.FTS.B

,

4

.748

%

,

10/18/34

...

22,190

173

6602708.SQ.FTS.B

,

4

.937

%

,

10/21/34

...

20,691

35

6603320.SQ.FTS.B

,

6

.256

%

,

10/21/34

...

2,923

4

6606708.SQ.FTS.B

,

4

.937

%

,

10/24/34

...

2,234

4

6608433.SQ.FTS.B

,

5

.187

%

,

10/24/34

...

7,450

11

6606355.SQ.FTS.B

,

6

.005

%

,

10/24/34

...

3,197

10

6606972.SQ.FTS.B

,

6

.415

%

,

10/24/34

...

2,678

4

6608920.SQ.FTS.B

,

4

.655

%

,

10/25/34

...

4,842

16

6608761.SQ.FTS.B

,

4

.729

%

,

10/25/34

...

529

1

Description

Principal

Amount

Value

Block,

Inc.

(continued)

6610691.SQ.FTS.B

,

5

.437

%

,

10/25/34

...

$

1,555

$

3

6610546.SQ.FTS.B

,

6

.424

%

,

10/25/34

...

2,651

7

6611834.SQ.FTS.B

,

4

.934

%

,

10/26/34

...

6,514

11

6620492.SQ.FTS.B

,

5

.563

%

,

10/28/34

...

1,779

236

6621277.SQ.FTS.B

,

6

.437

%

,

10/28/34

...

645

2

6627023.SQ.FTS.B

,

4

.75

%

,

11/01/34

....

9,110

14

6626988.SQ.FTS.B

,

5

.457

%

,

11/01/34

...

1,021

2

6629563.SQ.FTS.B

,

6

.246

%

,

11/01/34

...

867

1

6632935.SQ.FTS.B

,

5

.367

%

,

11/02/34

...

1,675

3

6640951.SQ.FTS.B

,

5

.186

%

,

11/04/34

...

3,014

7

6638387.SQ.FTS.B

,

5

.187

%

,

11/04/34

...

6,765

18

6642494.SQ.FTS.B

,

5

.183

%

,

11/05/34

...

2,440

6

6642924.SQ.FTS.B

,

5

.436

%

,

11/05/34

...

918

1

6642786.SQ.FTS.B

,

5

.563

%

,

11/05/34

...

3,631

12

6642443.SQ.FTS.B

,

6

.01

%

,

11/05/34

....

1,132

3

6655765.SQ.FTS.B

,

6

.415

%

,

11/10/34

...

22,394

40

6660038.SQ.FTS.B

,

5

.192

%

,

11/11/34

...

1,133

497

6659902.SQ.FTS.B

,

5

.439

%

,

11/11/34

...

3,775

15

6662402.SQ.FTS.B

,

4

.654

%

,

11/12/34

...

16,704

37

6662851.SQ.FTS.B

,

4

.749

%

,

11/12/34

...

538

1

6667444.SQ.FTS.B

,

5

.189

%

,

11/15/34

...

13,964

986

6667839.SQ.FTS.B

,

5

.563

%

,

11/15/34

...

2,316

3

6669990.SQ.FTS.B

,

5

.756

%

,

11/15/34

...

2,054

2

6669319.SQ.FTS.B

,

5

.757

%

,

11/15/34

...

5,727

15

6668063.SQ.FTS.B

,

6

.167

%

,

11/15/34

...

1,906

4

6672873.SQ.FTS.B

,

4

.942

%

,

11/16/34

...

1,122

3

6672685.SQ.FTS.B

,

6

.418

%

,

11/16/34

...

9,596

10

6681453.SQ.FTS.B

,

4

.942

%

,

11/18/34

...

2,541

11

6681160.SQ.FTS.B

,

5

.19

%

,

11/18/34

....

11,154

22

6681576.SQ.FTS.B

,

6

.01

%

,

11/18/34

....

2,334

4

6684258.SQ.FTS.B

,

5

.379

%

,

11/19/34

...

5,085

13

6681713.SQ.FTS.B

,

5

.434

%

,

11/19/34

...

4,188

15

6683903.SQ.FTS.B

,

6

.164

%

,

11/19/34

...

1,832

7

6685416.SQ.FTS.B

,

6

.029

%

,

11/20/34

...

182

1

6687486.SQ.FTS.B

,

5

.443

%

,

11/22/34

...

1,208

6

6701879.SQ.FTS.B

,

4

.747

%

,

11/25/34

...

555

1

6703045.SQ.FTS.B

,

5

.373

%

,

11/25/34

...

543

118

6706998.SQ.FTS.B

,

4

.934

%

,

11/26/34

...

4,568

11

6705993.SQ.FTS.B

,

6

.41

%

,

11/26/34

....

3,907

7

6709178.SQ.FTS.B

,

5

.366

%

,

11/29/34

...

223

–

6709428.SQ.FTS.B

,

6

.005

%

,

11/29/34

...

505

42

6709139.SQ.FTS.B

,

6

.422

%

,

11/29/34

...

417

1

6716386.SQ.FTS.B

,

4

.656

%

,

11/30/34

...

14,513

30

6713041.SQ.FTS.B

,

4

.745

%

,

11/30/34

...

1,739

4

6718331.SQ.FTS.B

,

4

.937

%

,

12/01/34

...

2,957

175

6726195.SQ.FTS.B

,

5

.77

%

,

12/04/34

....

1,147

2

6727203.SQ.FTS.B

,

5

.371

%

,

12/05/34

...

1,293

3

6728878.SQ.FTS.B

,

6

.019

%

,

12/05/34

...

106

9

6736151.SQ.FTS.B

,

5

.19

%

,

12/07/34

....

843

245

6734360.SQ.FTS.B

,

5

.571

%

,

12/07/34

...

3,091

10

6735929.SQ.FTS.B

,

6

.418

%

,

12/07/34

...

7,389

24

6741238.SQ.FTS.B

,

5

.188

%

,

12/08/34

...

532

2

6741768.SQ.FTS.B

,

6

.258

%

,

12/08/34

...

7

–

6747289.SQ.FTS.B

,

5

.192

%

,

12/10/34

...

3,359

13

6747633.SQ.FTS.B

,

5

.206

%

,

12/11/34

...

500

38

6749151.SQ.FTS.B

,

5

.758

%

,

12/12/34

...

2,209

5

6755529.SQ.FTS.B

,

5

.195

%

,

12/14/34

...

831

364

6755599.SQ.FTS.B

,

5

.382

%

,

12/14/34

...

3,652

9

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

98

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

6765978.SQ.FTS.B

,

6

.413

%

,

12/16/34

...

$

3,559

$

13

6767513.SQ.FTS.B

,

6

.413

%

,

12/16/34

...

3,105

7

6769902.SQ.FTS.B

,

5

.756

%

,

12/18/34

...

1,683

11

6770314.SQ.FTS.B

,

4

.757

%

,

12/19/34

...

850

4

6770294.SQ.FTS.B

,

5

.418

%

,

12/19/34

...

1,307

3

6770865.SQ.FTS.B

,

6

.164

%

,

12/19/34

...

4,212

13

6772432.SQ.FTS.B

,

4

.659

%

,

12/20/34

...

3,614

6

6771628.SQ.FTS.B

,

5

.378

%

,

12/20/34

...

11,342

79

6775946.SQ.FTS.B

,

6

.15

%

,

12/21/34

....

868

2

6785814.SQ.FTS.B

,

6

.008

%

,

12/23/34

...

3,173

9

6789729.SQ.FTS.B

,

5

.755

%

,

12/26/34

...

23,677

108

6789128.SQ.FTS.B

,

6

.008

%

,

12/26/34

...

6,626

26

6792899.SQ.FTS.B

,

5

.377

%

,

12/27/34

...

15,687

102

6795851.SQ.FTS.B

,

6

.414

%

,

12/28/34

...

13,992

52

6800164.SQ.FTS.B

,

5

.451

%

,

12/29/34

...

921

3

6807351.SQ.FTS.B

,

5

.571

%

,

12/30/34

...

629

6

6807255.SQ.FTS.B

,

6

.011

%

,

12/30/34

...

3,694

13

6812718.SQ.FTS.B

,

4

.933

%

,

1/03/35

....

8,701

24

6813993.SQ.FTS.B

,

4

.656

%

,

1/04/35

....

134

60

6815365.SQ.FTS.B

,

5

.568

%

,

1/05/35

....

4,873

43

6815336.SQ.FTS.B

,

5

.76

%

,

1/05/35

.....

1,094

3

6814457.SQ.FTS.B

,

6

.205

%

,

1/05/35

....

231

1

6828597.SQ.FTS.B

,

6

.01

%

,

1/10/35

.....

1,851

16

6830425.SQ.FTS.B

,

6

.154

%

,

1/10/35

....

1,050

3

6833081.SQ.FTS.B

,

5

.753

%

,

1/11/35

....

3,849

24

6831288.SQ.FTS.B

,

5

.755

%

,

1/11/35

....

1,391

12

6840796.SQ.FTS.B

,

5

.755

%

,

1/13/35

....

3,787

817

6844837.SQ.FTS.B

,

5

.189

%

,

1/14/35

....

5,958

832

6845844.SQ.FTS.B

,

5

.577

%

,

1/15/35

....

2,264

18

6853583.SQ.FTS.B

,

4

.652

%

,

1/18/35

....

1,004

7

6864766.SQ.FTS.B

,

5

.461

%

,

1/22/35

....

346

2

6865119.SQ.FTS.B

,

6

.261

%

,

1/22/35

....

1,131

6

6865816.SQ.FTS.B

,

4

.941

%

,

1/23/35

....

975

6

6867424.SQ.FTS.B

,

4

.938

%

,

1/24/35

....

1,536

497

6867235.SQ.FTS.B

,

5

.378

%

,

1/24/35

....

4,400

40

6873888.SQ.FTS.B

,

4

.654

%

,

1/26/35

....

764

338

6874224.SQ.FTS.B

,

4

.938

%

,

1/26/35

....

12,671

86

6880319.SQ.FTS.B

,

4

.755

%

,

1/27/35

....

952

4

6878498.SQ.FTS.B

,

6

.006

%

,

1/27/35

....

15,839

104

6879258.SQ.FTS.B

,

6

.169

%

,

1/27/35

....

995

6

6883683.SQ.FTS.B

,

6

.259

%

,

1/28/35

....

11,390

72

6889101.SQ.FTS.B

,

4

.932

%

,

1/31/35

....

894

7

6891704.SQ.FTS.B

,

4

.939

%

,

2/01/35

....

4,176

896

6894382.SQ.FTS.B

,

6

.261

%

,

2/02/35

....

3,927

26

6901055.SQ.FTS.B

,

5

.187

%

,

2/04/35

....

8,090

80

6905278.SQ.FTS.B

,

5

.375

%

,

2/06/35

....

4,086

23

6905725.SQ.FTS.B

,

6

.41

%

,

2/06/35

.....

2,638

19

6910812.SQ.FTS.B

,

5

.563

%

,

2/08/35

....

5,166

38

6913129.SQ.FTS.B

,

5

.759

%

,

2/09/35

....

1,084

11

6913617.SQ.FTS.B

,

6

.006

%

,

2/09/35

....

11,248

96

6918477.SQ.FTS.B

,

4

.762

%

,

2/10/35

....

795

2

6919126.SQ.FTS.B

,

4

.721

%

,

2/11/35

....

870

3

6920374.SQ.FTS.B

,

6

.421

%

,

2/11/35

....

1,833

20

6923080.SQ.FTS.B

,

5

.567

%

,

2/14/35

....

5,327

59

6934280.SQ.FTS.B

,

5

.378

%

,

2/17/35

....

655

75

6933378.SQ.FTS.B

,

6

.007

%

,

2/17/35

....

1,773

20

6937297.SQ.FTS.B

,

4

.748

%

,

2/18/35

....

2,807

32

Description

Principal

Amount

Value

Block,

Inc.

(continued)

6939326.SQ.FTS.B

,

5

.44

%

,

2/18/35

.....

$

8,134

$

46

6937107.SQ.FTS.B

,

5

.441

%

,

2/18/35

....

2,690

31

6939442.SQ.FTS.B

,

5

.565

%

,

2/18/35

....

1,319

14

6941232.SQ.FTS.B

,

5

.755

%

,

2/19/35

....

15,014

2,512

6941710.SQ.FTS.B

,

6

.007

%

,

2/19/35

....

5,409

38

6942041.SQ.FTS.B

,

6

.135

%

,

2/20/35

....

783

5

6946128.SQ.FTS.B

,

5

.748

%

,

2/21/35

....

1,931

13

6946527.SQ.FTS.B

,

6

.003

%

,

2/21/35

....

726

88

6957735.SQ.FTS.B

,

5

.377

%

,

2/24/35

....

2,280

256

6957843.SQ.FTS.B

,

6

.007

%

,

2/24/35

....

4,688

365

6957706.SQ.FTS.B

,

6

.439

%

,

2/24/35

....

982

5

6958893.SQ.FTS.B

,

5

.475

%

,

2/25/35

....

286

40

6962136.SQ.FTS.B

,

5

.755

%

,

2/25/35

....

1,990

25

6962386.SQ.FTS.B

,

5

.445

%

,

2/26/35

....

1,496

190

6962449.SQ.FTS.B

,

6

%

,

2/26/35

.......

674

56

6963703.SQ.FTS.B

,

5

.441

%

,

2/27/35

....

4,922

559

6968688.SQ.FTS.B

,

5

.439

%

,

2/28/35

....

15,914

144

6964600.SQ.FTS.B

,

5

.754

%

,

2/28/35

....

3,817

25

6965538.SQ.FTS.B

,

5

.758

%

,

2/28/35

....

287

70

6977409.SQ.FTS.B

,

5

.758

%

,

2/28/35

....

6,257

71

6983514.SQ.FTS.B

,

4

.657

%

,

3/01/35

....

1,054

15

6981506.SQ.FTS.B

,

5

.759

%

,

3/01/35

....

4,725

49

6981745.SQ.FTS.B

,

6

.205

%

,

3/01/35

....

727

4

6983907.SQ.FTS.B

,

6

.255

%

,

3/01/35

....

5,990

31

6983184.SQ.FTS.B

,

6

.258

%

,

3/01/35

....

2,759

36

6985831.SQ.FTS.B

,

5

.756

%

,

3/03/35

....

6,077

65

6986183.SQ.FTS.B

,

6

.005

%

,

3/03/35

....

1,326

8

6987073.SQ.FTS.B

,

5

.772

%

,

3/04/35

....

389

3

6987047.SQ.FTS.B

,

6

.254

%

,

3/04/35

....

3,612

40

6988804.SQ.FTS.B

,

5

.378

%

,

3/05/35

....

22,027

261

6992671.SQ.FTS.B

,

5

.188

%

,

3/06/35

....

804

12

6992646.SQ.FTS.B

,

5

.386

%

,

3/06/35

....

878

7

6991080.SQ.FTS.B

,

6

.168

%

,

3/06/35

....

878

7

6999659.SQ.FTS.B

,

5

.377

%

,

3/08/35

....

6,547

32

6999790.SQ.FTS.B

,

5

.377

%

,

3/08/35

....

11,205

1,281

7003117.SQ.FTS.B

,

5

.451

%

,

3/09/35

....

715

5

7002848.SQ.FTS.B

,

5

.753

%

,

3/09/35

....

2,390

31

7006832.SQ.FTS.B

,

5

.564

%

,

3/11/35

....

11,203

827

7006543.SQ.FTS.B

,

5

.57

%

,

3/11/35

.....

5,929

83

7007213.SQ.FTS.B

,

5

.746

%

,

3/11/35

....

3,175

34

7013018.SQ.FTS.B

,

4

.654

%

,

3/13/35

....

888

393

7012393.SQ.FTS.B

,

5

.198

%

,

3/13/35

....

399

87

7010981.SQ.FTS.B

,

5

.377

%

,

3/13/35

....

2,023

10

7019058.SQ.FTS.B

,

5

.758

%

,

3/14/35

....

1,813

598

7024779.SQ.FTS.B

,

5

.757

%

,

3/16/35

....

927

412

7029684.SQ.FTS.B

,

6

.417

%

,

3/18/35

....

189

26

7031129.SQ.FTS.B

,

5

.566

%

,

3/19/35

....

23,073

257

7033869.SQ.FTS.B

,

6

.158

%

,

3/19/35

....

2,930

38

7030479.SQ.FTS.B

,

6

.26

%

,

3/19/35

.....

1,600

213

7036165.SQ.FTS.B

,

4

.657

%

,

3/20/35

....

6,631

51

7034652.SQ.FTS.B

,

5

.374

%

,

3/20/35

....

2,007

529

7040271.SQ.FTS.B

,

5

.377

%

,

3/21/35

....

22,358

4,556

7046389.SQ.FTS.B

,

4

.762

%

,

3/22/35

....

133

14

7046858.SQ.FTS.B

,

5

.566

%

,

3/22/35

....

6,997

116

7044311.SQ.FTS.B

,

5

.757

%

,

3/22/35

....

2,555

33

7046224.SQ.FTS.B

,

6

.008

%

,

3/22/35

....

46

7

7044180.SQ.FTS.B

,

6

.256

%

,

3/22/35

....

778

12

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

99

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

7047312.SQ.FTS.B

,

5

.566

%

,

3/23/35

....

$

1,694

$

25

7047271.SQ.FTS.B

,

6

.25

%

,

3/23/35

.....

1,214

145

7048994.SQ.FTS.B

,

5

.444

%

,

3/25/35

....

853

71

7050699.SQ.FTS.B

,

6

.012

%

,

3/25/35

....

1,636

20

7055837.SQ.FTS.B

,

5

.754

%

,

3/27/35

....

5,733

88

7060939.SQ.FTS.B

,

5

.381

%

,

3/28/35

....

1,606

468

7066581.SQ.FTS.B

,

5

.565

%

,

3/29/35

....

4,115

1,360

7069074.SQ.FTS.B

,

4

.938

%

,

4/01/35

....

4,337

633

7077191.SQ.FTS.B

,

4

.654

%

,

4/03/35

....

5,771

97

7075883.SQ.FTS.B

,

6

.007

%

,

4/03/35

....

3,716

63

7077874.SQ.FTS.B

,

6

.413

%

,

4/04/35

....

1,766

14

7087577.SQ.FTS.B

,

4

.937

%

,

4/05/35

....

27,996

343

7086320.SQ.FTS.B

,

5

.196

%

,

4/05/35

....

133

44

7087146.SQ.FTS.B

,

5

.758

%

,

4/05/35

....

5,687

71

7091881.SQ.FTS.B

,

6

.007

%

,

4/06/35

....

25,110

367

7093794.SQ.FTS.B

,

5

.191

%

,

4/08/35

....

1,129

173

7101547.SQ.FTS.B

,

6

.002

%

,

4/11/35

....

1,547

20

7099200.SQ.FTS.B

,

6

.256

%

,

4/11/35

....

9,571

137

7107852.SQ.FTS.B

,

5

.754

%

,

4/12/35

....

22,699

356

7111729.SQ.FTS.B

,

5

.38

%

,

4/13/35

.....

2,156

342

7112088.SQ.FTS.B

,

5

.193

%

,

4/14/35

....

1,208

155

7112613.SQ.FTS.B

,

6

.26

%

,

4/14/35

.....

5,163

68

7116213.SQ.FTS.B

,

4

.746

%

,

4/16/35

....

323

3

7114099.SQ.FTS.B

,

5

.576

%

,

4/16/35

....

1,266

12

7119610.SQ.FTS.B

,

5

.754

%

,

4/17/35

....

2,533

36

7120695.SQ.FTS.B

,

6

.006

%

,

4/17/35

....

13,067

106

7117683.SQ.FTS.B

,

6

.168

%

,

4/17/35

....

5,322

46

7120315.SQ.FTS.B

,

6

.171

%

,

4/17/35

....

110

1

7125880.SQ.FTS.B

,

6

.009

%

,

4/18/35

....

6,031

106

7132043.SQ.FTS.B

,

4

.654

%

,

4/19/35

....

11,699

181

7135169.SQ.FTS.B

,

6

.001

%

,

4/19/35

....

586

76

7138440.SQ.FTS.B

,

4

.775

%

,

4/20/35

....

471

5

7136267.SQ.FTS.B

,

5

.577

%

,

4/20/35

....

492

8

7143719.SQ.FTS.B

,

4

.654

%

,

4/23/35

....

352

117

7147190.SQ.FTS.B

,

5

.44

%

,

4/23/35

.....

6,796

98

7145816.SQ.FTS.B

,

6

.162

%

,

4/23/35

....

146

49

7153431.SQ.FTS.B

,

4

.938

%

,

4/25/35

....

21,694

371

7154592.SQ.FTS.B

,

4

.94

%

,

4/25/35

.....

871

184

7154470.SQ.FTS.B

,

5

.446

%

,

4/25/35

....

573

6

7152426.SQ.FTS.B

,

5

.566

%

,

4/25/35

....

2,956

1,306

7163428.SQ.FTS.B

,

5

.192

%

,

4/27/35

....

2,098

903

7164056.SQ.FTS.B

,

6

.403

%

,

4/27/35

....

269

37

7164004.SQ.FTS.B

,

6

.416

%

,

4/27/35

....

9,823

104

7165963.SQ.FTS.B

,

6

.392

%

,

4/29/35

....

104

22

7170716.SQ.FTS.B

,

4

.654

%

,

4/30/35

....

710

314

7173420.SQ.FTS.B

,

5

.378

%

,

4/30/35

....

4,098

65

7174416.SQ.FTS.B

,

5

.379

%

,

5/01/35

....

1,948

19

7174615.SQ.FTS.B

,

6

.263

%

,

5/01/35

....

2,929

36

a

7183615.SQ.FTS.B

,

4

.936

%

,

5/02/35

....

1,705

510

7179478.SQ.FTS.B

,

4

.939

%

,

5/02/35

....

7,904

190

7180815.SQ.FTS.B

,

5

.189

%

,

5/02/35

....

39,951

9,487

a

7180418.SQ.FTS.B

,

5

.19

%

,

5/02/35

.....

2,976

981

a

7187557.SQ.FTS.B

,

4

.938

%

,

5/03/35

....

3,500

917

a

7184507.SQ.FTS.B

,

4

.942

%

,

5/03/35

....

856

151

7187451.SQ.FTS.B

,

5

.379

%

,

5/03/35

....

5,960

101

a

7189106.SQ.FTS.B

,

5

.996

%

,

5/05/35

....

291

77

Description

Principal

Amount

Value

Block,

Inc.

(continued)

7192584.SQ.FTS.B

,

5

.755

%

,

5/06/35

....

$

5,371

$

100

7194324.SQ.FTS.B

,

5

.189

%

,

5/07/35

....

16,993

240

7194913.SQ.FTS.B

,

5

.434

%

,

5/07/35

....

925

14

7197003.SQ.FTS.B

,

5

.571

%

,

5/07/35

....

1,030

85

7199276.SQ.FTS.B

,

4

.938

%

,

5/08/35

....

32,102

568

7200153.SQ.FTS.B

,

5

.376

%

,

5/08/35

....

16,216

94

7200668.SQ.FTS.B

,

6

.158

%

,

5/08/35

....

1,887

20

7205002.SQ.FTS.B

,

4

.654

%

,

5/09/35

....

75,336

1,066

7206980.SQ.FTS.B

,

6

.414

%

,

5/09/35

....

13,640

151

7204916.SQ.FTS.B

,

6

.415

%

,

5/09/35

....

1,800

50

7212464.SQ.FTS.B

,

6

.247

%

,

5/12/35

....

485

40

7214825.SQ.FTS.B

,

4

.752

%

,

5/13/35

....

6,212

65

a

7213115.SQ.FTS.B

,

4

.939

%

,

5/13/35

....

2,962

720

a

7214936.SQ.FTS.B

,

5

.377

%

,

5/13/35

....

2,339

499

7212718.SQ.FTS.B

,

5

.544

%

,

5/13/35

....

877

126

a

7218588.SQ.FTS.B

,

5

.57

%

,

5/14/35

.....

113

25

7223668.SQ.FTS.B

,

4

.756

%

,

5/15/35

....

916

20

7227981.SQ.FTS.B

,

5

.77

%

,

5/16/35

.....

1,615

18

a

7227866.SQ.FTS.B

,

6

.012

%

,

5/16/35

....

1,600

290

7233660.SQ.FTS.B

,

4

.73

%

,

5/17/35

.....

658

8

7232691.SQ.FTS.B

,

5

.755

%

,

5/17/35

....

35,086

680

a

7235467.SQ.FTS.B

,

5

.189

%

,

5/19/35

....

157

70

7238159.SQ.FTS.B

,

5

.747

%

,

5/20/35

....

1,425

172

7243958.SQ.FTS.B

,

4

.653

%

,

5/21/35

....

16,197

201

a

7244207.SQ.FTS.B

,

5

.566

%

,

5/21/35

....

1,618

719

7244363.SQ.FTS.B

,

5

.573

%

,

5/21/35

....

2,610

55

7244108.SQ.FTS.B

,

5

.75

%

,

5/21/35

.....

1,133

26

a

7248245.SQ.FTS.B

,

4

.65

%

,

5/22/35

.....

1,011

254

7249505.SQ.FTS.B

,

5

.38

%

,

5/22/35

.....

4,386

44

7249579.SQ.FTS.B

,

5

.565

%

,

5/22/35

....

9,581

195

7250972.SQ.FTS.B

,

5

.749

%

,

5/22/35

....

1,122

22

7248608.SQ.FTS.B

,

6

.162

%

,

5/22/35

....

1,522

29

a

7251367.SQ.FTS.B

,

4

.936

%

,

5/23/35

....

2,158

687

a

7251706.SQ.FTS.B

,

5

.561

%

,

5/23/35

....

336

150

7251651.SQ.FTS.B

,

5

.755

%

,

5/23/35

....

4,186

703

7253125.SQ.FTS.B

,

6

.008

%

,

5/24/35

....

9,228

227

7254942.SQ.FTS.B

,

5

.181

%

,

5/25/35

....

456

38

7255280.SQ.FTS.B

,

5

.581

%

,

5/25/35

....

2,104

15

7255995.SQ.FTS.B

,

6

.157

%

,

5/25/35

....

1,767

22

7255984.SQ.FTS.B

,

6

.245

%

,

5/25/35

....

764

16

7262165.SQ.FTS.B

,

4

.654

%

,

5/28/35

....

14,002

6,075

7262587.SQ.FTS.B

,

5

.566

%

,

5/28/35

....

11,195

256

7261105.SQ.FTS.B

,

6

.154

%

,

5/28/35

....

765

63

a

7265503.SQ.FTS.B

,

6

.175

%

,

5/29/35

....

229

76

a

7269934.SQ.FTS.B

,

5

.565

%

,

5/30/35

....

1,563

302

7273316.SQ.FTS.B

,

5

.753

%

,

5/30/35

....

14,525

207

a

7273451.SQ.FTS.B

,

6

.415

%

,

5/30/35

....

292

50

7276376.SQ.FTS.B

,

4

.655

%

,

6/01/35

....

13,113

448

a

7281310.SQ.FTS.B

,

5

.566

%

,

6/04/35

....

732

195

a

7287198.SQ.FTS.B

,

5

.187

%

,

6/05/35

....

876

389

a

7285051.SQ.FTS.B

,

6

.002

%

,

6/05/35

....

614

86

7290561.SQ.FTS.B

,

4

.937

%

,

6/06/35

....

28,751

1,108

7290026.SQ.FTS.B

,

5

.38

%

,

6/06/35

.....

12,287

149

7297748.SQ.FTS.B

,

4

.75

%

,

6/07/35

.....

396

136

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

100

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

7296387.SQ.FTS.B

,

6

.162

%

,

6/07/35

....

$

6,784

$

1,452

a

7296180.SQ.FTS.B

,

6

.416

%

,

6/07/35

....

1,635

271

a

7299120.SQ.FTS.B

,

4

.938

%

,

6/08/35

....

2,615

756

7298379.SQ.FTS.B

,

5

.565

%

,

6/08/35

....

12,186

490

7300855.SQ.FTS.B

,

5

.736

%

,

6/08/35

....

1,131

17

7299245.SQ.FTS.B

,

6

.171

%

,

6/08/35

....

3,563

28

7299309.SQ.FTS.B

,

6

.258

%

,

6/08/35

....

8,689

2,224

7302186.SQ.FTS.B

,

4

.727

%

,

6/09/35

....

1,118

22

7302660.SQ.FTS.B

,

5

.439

%

,

6/10/35

....

1,300

19

a

7303400.SQ.FTS.B

,

5

.759

%

,

6/10/35

....

1,468

207

a

7305010.SQ.FTS.B

,

5

.567

%

,

6/11/35

....

769

204

7309810.SQ.FTS.B

,

4

.937

%

,

6/12/35

....

19,077

286

a

7313548.SQ.FTS.B

,

4

.938

%

,

6/12/35

....

18,531

3,779

a

7313455.SQ.FTS.B

,

5

.755

%

,

6/12/35

....

1,442

435

a

7316921.SQ.FTS.B

,

5

.384

%

,

6/13/35

....

291

129

7316695.SQ.FTS.B

,

6

.005

%

,

6/13/35

....

496

78

a

7322262.SQ.FTS.B

,

4

.937

%

,

6/14/35

....

16,947

8,033

a

7320914.SQ.FTS.B

,

5

.372

%

,

6/14/35

....

935

364

7321205.SQ.FTS.B

,

6

.132

%

,

6/14/35

....

463

4

7324843.SQ.FTS.B

,

5

.761

%

,

6/15/35

....

1,080

26

a

7326549.SQ.FTS.B

,

5

.763

%

,

6/15/35

....

1,103

153

7324812.SQ.FTS.B

,

6

.164

%

,

6/15/35

....

705

11

a

7329000.SQ.FTS.B

,

6

.175

%

,

6/16/35

....

301

100

a

7328067.SQ.FTS.B

,

6

.259

%

,

6/16/35

....

4,583

649

7329113.SQ.FTS.B

,

5

.19

%

,

6/17/35

.....

10,623

461

7329506.SQ.FTS.B

,

5

.756

%

,

6/17/35

....

4,395

70

7334033.SQ.FTS.B

,

4

.717

%

,

6/18/35

....

194

3

7334213.SQ.FTS.B

,

4

.76

%

,

6/18/35

.....

2,715

23

7330370.SQ.FTS.B

,

5

.368

%

,

6/18/35

....

2,170

36

a

7330811.SQ.FTS.B

,

5

.56

%

,

6/18/35

.....

1,725

205

a

7334073.SQ.FTS.B

,

6

.004

%

,

6/18/35

....

2,094

253

7337996.SQ.FTS.B

,

5

.192

%

,

6/19/35

....

3,988

99

a

7337001.SQ.FTS.B

,

5

.378

%

,

6/19/35

....

4,318

900

7335700.SQ.FTS.B

,

5

.379

%

,

6/19/35

....

21,677

285

7336392.SQ.FTS.B

,

5

.387

%

,

6/19/35

....

257

7

a

7334461.SQ.FTS.B

,

6

.01

%

,

6/19/35

.....

204

17

7340973.SQ.FTS.B

,

5

.181

%

,

6/20/35

....

913

124

a

7338810.SQ.FTS.B

,

5

.375

%

,

6/20/35

....

1,877

451

a

7339691.SQ.FTS.B

,

5

.563

%

,

6/20/35

....

543

133

7340466.SQ.FTS.B

,

6

.416

%

,

6/20/35

....

6,487

105

a

7346697.SQ.FTS.B

,

5

.745

%

,

6/21/35

....

126

56

7344615.SQ.FTS.B

,

5

.757

%

,

6/21/35

....

634

11

7344686.SQ.FTS.B

,

5

.984

%

,

6/21/35

....

680

11

a

7344580.SQ.FTS.B

,

6

.421

%

,

6/21/35

....

305

26

a

7348182.SQ.FTS.B

,

5

.191

%

,

6/22/35

....

3,940

328

7350116.SQ.FTS.B

,

5

.377

%

,

6/22/35

....

8,273

237

a

7351088.SQ.FTS.B

,

5

.38

%

,

6/22/35

.....

288

49

a

7351036.SQ.FTS.B

,

6

.153

%

,

6/22/35

....

1,777

750

a

7350364.SQ.FTS.B

,

6

.164

%

,

6/22/35

....

2,645

1,048

a

7352326.SQ.FTS.B

,

5

.566

%

,

6/23/35

....

1,807

219

a

7351905.SQ.FTS.B

,

5

.572

%

,

6/23/35

....

337

73

Description

Principal

Amount

Value

Block,

Inc.

(continued)

7352037.SQ.FTS.B

,

5

.995

%

,

6/23/35

....

$

1,931

$

236

a

7353627.SQ.FTS.B

,

6

.258

%

,

6/25/35

....

23,124

2,967

a

7359659.SQ.FTS.B

,

4

.937

%

,

6/27/35

....

1,225

544

a

7361225.SQ.FTS.B

,

5

.741

%

,

6/27/35

....

780

314

7360537.SQ.FTS.B

,

5

.999

%

,

6/27/35

....

1,325

24

7360259.SQ.FTS.B

,

6

.26

%

,

6/27/35

.....

12,016

309

7365864.SQ.FTS.B

,

4

.754

%

,

6/28/35

....

1,280

23

7367432.SQ.FTS.B

,

4

.937

%

,

6/29/35

....

12,714

873

a

7369572.SQ.FTS.B

,

4

.937

%

,

6/29/35

....

16,360

4,681

7370739.SQ.FTS.B

,

4

.75

%

,

6/30/35

.....

4,173

68

7370621.SQ.FTS.B

,

5

.428

%

,

6/30/35

....

663

19

7372484.SQ.FTS.B

,

5

.437

%

,

7/01/35

....

5,030

1,853

a

7372822.SQ.FTS.B

,

5

.384

%

,

7/02/35

....

146

23

7375657.SQ.FTS.B

,

6

.017

%

,

7/02/35

....

1,085

30

7382823.SQ.FTS.B

,

4

.937

%

,

7/04/35

....

35,680

1,695

a

7382112.SQ.FTS.B

,

5

.441

%

,

7/04/35

....

5,446

1,384

7381323.SQ.FTS.B

,

6

.165

%

,

7/04/35

....

8,399

977

7386885.SQ.FTS.B

,

5

.189

%

,

7/05/35

....

2,257

70

a

7385816.SQ.FTS.B

,

5

.456

%

,

7/05/35

....

607

100

7385186.SQ.FTS.B

,

5

.565

%

,

7/05/35

....

15,580

393

7385592.SQ.FTS.B

,

5

.999

%

,

7/05/35

....

1,553

28

a

7384646.SQ.FTS.B

,

6

.278

%

,

7/05/35

....

588

266

a

7388297.SQ.FTS.B

,

4

.939

%

,

7/07/35

....

5,298

2,298

7389685.SQ.FTS.B

,

4

.753

%

,

7/08/35

....

819

24

7391456.SQ.FTS.B

,

5

.374

%

,

7/08/35

....

3,275

1,291

7396669.SQ.FTS.B

,

5

.758

%

,

7/10/35

....

4,873

2,251

7401793.SQ.FTS.B

,

5

.573

%

,

7/11/35

....

182

5

7404632.SQ.FTS.B

,

5

.195

%

,

7/12/35

....

5,041

96

a

7406230.SQ.FTS.B

,

5

.451

%

,

7/12/35

....

703

307

a

7407678.SQ.FTS.B

,

5

.201

%

,

7/14/35

....

273

98

7407499.SQ.FTS.B

,

6

.008

%

,

7/14/35

....

5,293

98

a

7409564.SQ.FTS.B

,

4

.938

%

,

7/16/35

....

2,087

1,018

a

7410810.SQ.FTS.B

,

5

.179

%

,

7/16/35

....

946

436

a

7410871.SQ.FTS.B

,

5

.199

%

,

7/16/35

....

327

199

7411162.SQ.FTS.B

,

5

.566

%

,

7/16/35

....

33,263

885

a

7409266.SQ.FTS.B

,

5

.572

%

,

7/16/35

....

913

533

a

7410796.SQ.FTS.B

,

5

.744

%

,

7/16/35

....

325

74

7409794.SQ.FTS.B

,

6

.252

%

,

7/16/35

....

1,964

62

a

7411944.SQ.FTS.B

,

4

.749

%

,

7/17/35

....

1,635

258

a

7413977.SQ.FTS.B

,

5

.377

%

,

7/17/35

....

1,305

917

7412170.SQ.FTS.B

,

5

.379

%

,

7/17/35

....

10,387

403

7411720.SQ.FTS.B

,

5

.565

%

,

7/17/35

....

12,241

1,756

a

7418984.SQ.FTS.B

,

4

.654

%

,

7/18/35

....

20,908

13,448

7419256.SQ.FTS.B

,

5

.565

%

,

7/19/35

....

571

17

7421975.SQ.FTS.B

,

5

.996

%

,

7/19/35

....

1,619

23

a

7422360.SQ.FTS.B

,

6

.254

%

,

7/19/35

....

281

138

a

7421989.SQ.FTS.B

,

6

.415

%

,

7/19/35

....

199

125

7423364.SQ.FTS.B

,

4

.939

%

,

7/21/35

....

5,514

167

a

7425766.SQ.FTS.B

,

5

.57

%

,

7/22/35

.....

5,117

2,714

7425843.SQ.FTS.B

,

6

.004

%

,

7/22/35

....

3,954

102

a

7429812.SQ.FTS.B

,

4

.654

%

,

7/23/35

....

11

8

a

7441666.SQ.FTS.B

,

5

.378

%

,

7/26/35

....

4,146

1,416

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

101

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

a

7441991.SQ.FTS.B

,

5

.565

%

,

7/26/35

....

$

2,474

$

1,307

7439471.SQ.FTS.B

,

5

.754

%

,

7/26/35

....

21,014

644

7442975.SQ.FTS.B

,

5

.75

%

,

7/28/35

.....

1,775

31

7443490.SQ.FTS.B

,

5

.753

%

,

7/28/35

....

844

159

7447146.SQ.FTS.B

,

6

.008

%

,

7/29/35

....

4,266

1,042

40,086,530

Freedom

Financial

Asset

Management

LLC

APP-10561160.FP.FTS.B

,

18

.99

%

,

9/13/25

1,510

1,532

APP-14246643.FP.FTS.B

,

14

.99

%

,

9/17/25

2,370

2,386

APP-10752759.FP.FTS.B

,

18

.99

%

,

10/17/25

3,130

3,189

APP-14256949.FP.FTS.B

,

16

.24

%

,

10/23/25

6,061

6,133

APP-10561236.FP.FTS.B

,

15

.99

%

,

11/04/25

3,838

3,863

APP-10627143.FP.FTS.B

,

16

.99

%

,

11/09/25

1,592

1,612

APP-10671041.FP.FTS.B

,

16

.49

%

,

11/16/25

2,874

2,918

APP-10703763.FP.FTS.B

,

14

.49

%

,

11/20/25

2,621

2,659

APP-10776590.FP.FTS.B

,

18

.49

%

,

11/23/25

2,445

2,491

APP-10941172.FP.FTS.B

,

10

.99

%

,

12/14/25

2,769

2,783

APP-10293581.FP.FTS.B

,

11

.49

%

,

12/14/25

4,781

4,811

APP-10856578.FP.FTS.B

,

18

.49

%

,

12/14/25

1,547

1,573

APP-11701384.FP.FTS.B

,

18

.49

%

,

12/15/25

137

137

APP-11823260.FP.FTS.B

,

11

.99

%

,

12/16/25

1,912

1,925

APP-12180264.FP.FTS.B

,

10

.24

%

,

1/26/26

2,445

2,466

APP-12244001.FP.FTS.B

,

13

.24

%

,

1/27/26

1,803

1,819

APP-10775435.FP.FTS.B

,

15

.49

%

,

1/31/26

2,440

2,449

APP-11764476.FP.FTS.B

,

13

.24

%

,

2/05/26

1,896

1,913

APP-11754629.FP.FTS.B

,

12

.24

%

,

2/06/26

7,386

7,449

APP-11041391.FP.FTS.B

,

11

.49

%

,

2/10/26

7,182

7,238

APP-12887499.FP.FTS.B

,

19

.49

%

,

2/25/26

2,022

2,077

APP-12780048.FP.FTS.B

,

8

.24

%

,

2/28/26

.

3,573

3,609

APP-12543851.FP.FTS.B

,

12

.74

%

,

3/01/26

6,202

6,252

APP-12934173.FP.FTS.B

,

10

.24

%

,

3/08/26

4,040

4,075

APP-12253162.FP.FTS.B

,

19

.99

%

,

3/12/26

4,130

4,286

APP-12176269.FP.FTS.B

,

16

.49

%

,

3/13/26

5,032

5,200

APP-12675358.FP.FTS.B

,

11

.99

%

,

3/28/26

1,192

1,199

APP-11877668.FP.FTS.B

,

16

.49

%

,

3/28/26

5,361

5,586

APP-13414992.FP.FTS.B

,

9

.99

%

,

3/30/26

.

7,152

7,212

APP-12803304.FP.FTS.B

,

18

.24

%

,

3/31/26

7,433

7,622

APP-12779873.FP.FTS.B

,

9

.49

%

,

4/03/26

.

6,755

6,808

APP-12886380.FP.FTS.B

,

9

.99

%

,

4/03/26

.

7,245

7,302

APP-12889924.FP.FTS.B

,

18

.74

%

,

4/03/26

6,234

6,469

APP-12744909.FP.FTS.B

,

10

.24

%

,

4/09/26

909

910

APP-12787408.FP.FTS.B

,

14

.99

%

,

4/10/26

4,886

4,950

APP-12779696.FP.FTS.B

,

10

.99

%

,

4/11/26

6,528

6,562

APP-12792270.FP.FTS.B

,

17

.99

%

,

4/11/26

4,585

4,717

APP-13059570.FP.FTS.B

,

8

.24

%

,

4/12/26

.

3,411

3,441

APP-11694989.FP.FTS.B

,

9

.99

%

,

4/12/26

.

3,011

3,032

APP-13048169.FP.FTS.B

,

10

.24

%

,

4/12/26

3,253

3,282

APP-13021207.FP.FTS.B

,

13

.99

%

,

4/15/26

6,588

6,761

APP-12911306.FP.FTS.B

,

7

.99

%

,

4/22/26

.

8,653

8,742

APP-10692670.FP.FTS.B

,

18

.49

%

,

4/22/26

915

926

APP-13014947.FP.FTS.B

,

14

.99

%

,

4/23/26

3,622

3,676

APP-12859987.FP.FTS.B

,

14

.74

%

,

4/26/26

6,987

7,201

APP-12949437.FP.FTS.B

,

21

.99

%

,

4/30/26

5,213

5,434

APP-13423683.FP.FTS.B

,

9

.99

%

,

5/01/26

.

6,684

6,740

APP-13396926.FP.FTS.B

,

13

.74

%

,

5/01/26

9,368

9,560

APP-13439922.FP.FTS.B

,

16

.99

%

,

5/01/26

4,459

4,571

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-14385374.FP.FTS.B

,

19

.49

%

,

5/03/26

$

3,040

$

3,104

APP-13431225.FP.FTS.B

,

16

.99

%

,

5/04/26

3,478

3,534

APP-13429002.FP.FTS.B

,

8

.24

%

,

5/10/26

.

4,309

4,351

APP-13386894.FP.FTS.B

,

7

.99

%

,

5/14/26

.

5,988

6,050

APP-13441691.FP.FTS.B

,

17

.99

%

,

5/14/26

5,857

6,060

APP-12231617.FP.FTS.B

,

16

.99

%

,

5/26/26

6,774

7,000

APP-13657810.FP.FTS.B

,

18

.99

%

,

6/12/26

2,830

2,866

b

APP-14276082.FP.FTS.B

,

10

.34

%

,

6/15/26

9,615

1,088

APP-14398590.FP.FTS.B

,

10

.99

%

,

6/15/26

3,227

3,261

APP-14189728.FP.FTS.B

,

17

.74

%

,

6/15/26

16,616

17,232

APP-14306826.FP.FTS.B

,

10

.34

%

,

6/17/26

6,896

6,969

b

APP-14531089.FP.FTS.B

,

10

.99

%

,

6/22/26

6,759

1,507

APP-14549001.FP.FTS.B

,

21

.49

%

,

6/23/26

8,557

8,968

APP-13605261.FP.FTS.B

,

13

.74

%

,

6/30/26

10,798

11,119

APP-10617769.FP.FTS.B

,

17

.49

%

,

6/30/26

2,381

2,424

APP-11811501.FP.FTS.B

,

15

.24

%

,

7/12/26

2,700

2,716

APP-15020512.FP.FTS.B

,

10

.24

%

,

7/15/26

9,236

9,338

APP-14409335.FP.FTS.B

,

18

.49

%

,

7/15/26

2,714

2,751

APP-13899724.FP.FTS.B

,

11

.24

%

,

7/18/26

313

313

APP-10561482.FP.FTS.B

,

16

.99

%

,

7/31/26

7,772

8,070

APP-10179113.FP.FTS.B

,

12

.49

%

,

8/15/26

10,168

10,282

APP-10116903.FP.FTS.B

,

14

.24

%

,

8/15/26

7,164

7,253

APP-10063830.FP.FTS.B

,

15

.99

%

,

8/16/26

15,651

15,908

APP-10105795.FP.FTS.B

,

23

.49

%

,

8/17/26

7,920

8,287

APP-14531002.FP.FTS.B

,

17

.74

%

,

8/20/26

4,270

4,307

APP-11746987.FP.FTS.B

,

18

.49

%

,

9/05/26

7,951

8,312

APP-10557980.FP.FTS.B

,

19

.99

%

,

9/05/26

4,964

5,103

APP-10622378.FP.FTS.B

,

13

.24

%

,

9/15/26

15,378

15,537

APP-12886960.FP.FTS.B

,

22

.49

%

,

9/15/26

1,451

1,483

APP-10190160.FP.FTS.B

,

18

.99

%

,

9/28/26

3,630

3,746

APP-10571945.FP.FTS.B

,

11

.24

%

,

10/15/26

15,257

15,426

APP-10412146.FP.FTS.B

,

20

.49

%

,

10/21/26

8,777

9,092

APP-10610237.FP.FTS.B

,

11

.99

%

,

10/25/26

3,660

3,698

APP-10482503.FP.FTS.B

,

17

.99

%

,

10/28/26

2,910

2,950

APP-10597275.FP.FTS.B

,

14

.49

%

,

11/01/26

1,147

1,149

APP-10561574.FP.FTS.B

,

14

.74

%

,

11/02/26

9,679

9,809

APP-10590862.FP.FTS.B

,

11

.99

%

,

11/05/26

6,412

6,485

APP-10453183.FP.FTS.B

,

17

.49

%

,

11/07/26

14,615

14,854

APP-10623552.FP.FTS.B

,

18

.99

%

,

11/09/26

9,417

9,702

APP-10770659.FP.FTS.B

,

21

.49

%

,

11/10/26

8,196

8,534

APP-10781246.FP.FTS.B

,

14

.24

%

,

11/15/26

5,518

5,604

b

APP-10779675.FP.FTS.B

,

21

.49

%

,

11/21/26

7,632

1,739

APP-10756900.FP.FTS.B

,

16

.99

%

,

11/22/26

7,251

7,503

APP-10760354.FP.FTS.B

,

11

.99

%

,

11/23/26

6,661

6,754

APP-10780937.FP.FTS.B

,

16

.49

%

,

11/24/26

2,851

2,899

APP-12795850.FP.FTS.B

,

23

.74

%

,

12/10/26

2,411

2,430

APP-11035966.FP.FTS.B

,

21

.99

%

,

12/13/26

3,361

3,485

APP-10916888.FP.FTS.B

,

11

.99

%

,

12/14/26

5,604

5,680

APP-11025771.FP.FTS.B

,

11

.99

%

,

12/14/26

8,989

9,110

APP-11743320.FP.FTS.B

,

13

.24

%

,

12/17/26

7,753

7,869

APP-11737338.FP.FTS.B

,

13

.24

%

,

12/22/26

12,405

12,616

APP-11755185.FP.FTS.B

,

10

.99

%

,

12/23/26

10,779

10,928

APP-11751486.FP.FTS.B

,

11

.24

%

,

12/23/26

6,581

6,671

APP-11815677.FP.FTS.B

,

13

.74

%

,

12/30/26

9,641

9,800

APP-11820229.FP.FTS.B

,

17

.49

%

,

12/30/26

4,744

4,822

APP-11753872.FP.FTS.B

,

13

.24

%

,

1/25/27

8,576

8,717

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

102

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-12234684.FP.FTS.B

,

16

.74

%

,

1/26/27

$

20,443

$

20,864

APP-10997848.FP.FTS.B

,

20

.49

%

,

1/30/27

2,472

2,501

APP-12242133.FP.FTS.B

,

22

.99

%

,

1/31/27

6,767

7,140

APP-11750215.FP.FTS.B

,

18

.24

%

,

2/05/27

15,014

15,493

APP-11693943.FP.FTS.B

,

10

.99

%

,

2/06/27

14,148

14,341

APP-11806403.FP.FTS.B

,

19

.99

%

,

2/11/27

9,747

5,978

APP-11816991.FP.FTS.B

,

16

.24

%

,

2/12/27

12,504

12,751

APP-11813343.FP.FTS.B

,

11

.74

%

,

2/13/27

19,409

19,695

APP-11804818.FP.FTS.B

,

14

.99

%

,

2/13/27

8,185

8,440

APP-11790590.FP.FTS.B

,

17

.74

%

,

2/13/27

12,709

13,192

APP-12801776.FP.FTS.B

,

18

.49

%

,

2/15/27

10,903

11,257

APP-12796607.FP.FTS.B

,

17

.74

%

,

2/16/27

14,910

15,597

APP-12779435.FP.FTS.B

,

10

.49

%

,

2/18/27

12,133

12,294

APP-11799619.FP.FTS.B

,

17

.99

%

,

2/21/27

9,835

10,307

APP-12677509.FP.FTS.B

,

8

.49

%

,

2/22/27

.

11,972

12,144

APP-11609592.FP.FTS.B

,

14

.74

%

,

2/24/27

17,865

18,175

APP-12792566.FP.FTS.B

,

16

.49

%

,

2/25/27

6,485

6,612

APP-12793802.FP.FTS.B

,

16

.74

%

,

2/25/27

18,639

18,992

APP-12769457.FP.FTS.B

,

17

.99

%

,

2/25/27

852

855

APP-12883181.FP.FTS.B

,

8

.99

%

,

2/28/27

.

13,671

13,897

APP-12800786.FP.FTS.B

,

11

.24

%

,

3/01/27

8,617

8,757

APP-13018059.FP.FTS.B

,

12

.99

%

,

3/01/27

4,416

4,477

APP-12814994.FP.FTS.B

,

13

.74

%

,

3/01/27

4,293

4,349

APP-12846368.FP.FTS.B

,

19

.99

%

,

3/01/27

9,535

9,907

APP-12932776.FP.FTS.B

,

16

.49

%

,

3/02/27

5,600

5,685

APP-12243437.FP.FTS.B

,

11

.24

%

,

3/04/27

12,805

12,999

APP-12234254.FP.FTS.B

,

11

.24

%

,

3/10/27

6,255

6,347

APP-12232207.FP.FTS.B

,

18

.99

%

,

3/11/27

7,916

8,196

APP-12249171.FP.FTS.B

,

13

.49

%

,

3/12/27

1,230

1,231

APP-12116704.FP.FTS.B

,

11

.74

%

,

3/15/27

18,405

18,685

APP-13060467.FP.FTS.B

,

11

.74

%

,

3/15/27

20,889

21,193

APP-13155858.FP.FTS.B

,

10

.99

%

,

3/16/27

9,055

9,185

APP-13061057.FP.FTS.B

,

13

.49

%

,

3/16/27

7,236

7,354

APP-13253640.FP.FTS.B

,

11

.24

%

,

3/20/27

6,573

6,667

APP-13323349.FP.FTS.B

,

16

.49

%

,

3/25/27

6,416

6,548

APP-13430153.FP.FTS.B

,

20

.49

%

,

3/25/27

8,947

9,398

APP-13207096.FP.FTS.B

,

19

.49

%

,

3/26/27

8,275

8,726

APP-12782877.FP.FTS.B

,

8

.49

%

,

3/28/27

.

10,697

10,851

APP-12799003.FP.FTS.B

,

10

.99

%

,

3/28/27

7,904

8,024

APP-12781429.FP.FTS.B

,

17

.74

%

,

3/28/27

15,558

16,251

APP-12758093.FP.FTS.B

,

8

.99

%

,

3/29/27

.

7,689

7,806

APP-12767372.FP.FTS.B

,

10

.99

%

,

3/29/27

8,094

8,220

APP-12784176.FP.FTS.B

,

11

.24

%

,

3/29/27

14,618

14,880

APP-12795625.FP.FTS.B

,

13

.49

%

,

3/29/27

8,118

8,262

APP-12674361.FP.FTS.B

,

15

.24

%

,

3/29/27

17,385

5,781

b

APP-12281515.FP.FTS.B

,

17

.49

%

,

3/29/27

7,738

882

APP-12802206.FP.FTS.B

,

17

.74

%

,

3/29/27

21,302

22,052

APP-13251661.FP.FTS.B

,

20

.24

%

,

3/29/27

13,173

13,703

APP-12795571.FP.FTS.B

,

22

.49

%

,

3/29/27

16,620

17,525

APP-12577391.FP.FTS.B

,

11

.74

%

,

3/30/27

20,915

21,250

APP-13421220.FP.FTS.B

,

14

.49

%

,

3/30/27

9,548

9,714

APP-13405408.FP.FTS.B

,

23

.24

%

,

3/30/27

10,281

10,705

APP-12231685.FP.FTS.B

,

19

.74

%

,

3/31/27

19,734

20,516

APP-13630932.FP.FTS.B

,

11

.84

%

,

4/01/27

6,815

6,911

APP-12840175.FP.FTS.B

,

15

.49

%

,

4/01/27

4,824

4,941

APP-12761107.FP.FTS.B

,

16

.49

%

,

4/01/27

10,153

10,435

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-12674748.FP.FTS.B

,

13

.99

%

,

4/02/27

$

21,656

$

21,971

APP-12867499.FP.FTS.B

,

13

.74

%

,

4/03/27

4,305

4,361

APP-12890485.FP.FTS.B

,

18

.99

%

,

4/03/27

6,786

6,993

APP-12811031.FP.FTS.B

,

20

.99

%

,

4/05/27

3,300

3,318

APP-13673131.FP.FTS.B

,

11

.34

%

,

4/07/27

8,759

8,879

APP-11924087.FP.FTS.B

,

13

.49

%

,

4/07/27

7,658

7,780

APP-12804826.FP.FTS.B

,

19

.99

%

,

4/08/27

3,569

3,687

APP-12736035.FP.FTS.B

,

8

.99

%

,

4/10/27

.

10,649

10,802

APP-12758120.FP.FTS.B

,

10

.99

%

,

4/10/27

10,898

11,050

APP-12413477.FP.FTS.B

,

15

.49

%

,

4/10/27

5,374

5,538

APP-12637418.FP.FTS.B

,

16

.49

%

,

4/10/27

11,342

11,571

APP-12796424.FP.FTS.B

,

17

.99

%

,

4/10/27

6,970

7,266

APP-12723310.FP.FTS.B

,

22

.99

%

,

4/10/27

7,973

8,351

APP-13662283.FP.FTS.B

,

11

.59

%

,

4/11/27

7,182

7,272

APP-12735907.FP.FTS.B

,

11

.74

%

,

4/11/27

21,188

21,504

APP-12119588.FP.FTS.B

,

13

.74

%

,

4/11/27

5,123

5,201

APP-11872577.FP.FTS.B

,

13

.99

%

,

4/12/27

10,041

10,117

APP-12794611.FP.FTS.B

,

16

.49

%

,

4/12/27

12,246

12,515

APP-12119732.FP.FTS.B

,

22

.49

%

,

4/13/27

5,267

5,535

APP-12819793.FP.FTS.B

,

11

.24

%

,

4/14/27

5,958

6,062

APP-12933712.FP.FTS.B

,

16

.99

%

,

4/14/27

7,952

8,232

APP-12601811.FP.FTS.B

,

10

.49

%

,

4/15/27

868

868

APP-12847750.FP.FTS.B

,

10

.49

%

,

4/15/27

12,301

12,493

APP-12886061.FP.FTS.B

,

10

.99

%

,

4/15/27

10,482

10,646

APP-12890839.FP.FTS.B

,

12

.99

%

,

4/15/27

1,228

1,232

APP-12889697.FP.FTS.B

,

14

.49

%

,

4/15/27

10,265

10,480

APP-13008146.FP.FTS.B

,

19

.99

%

,

4/15/27

6,754

7,015

APP-12780020.FP.FTS.B

,

8

.99

%

,

4/16/27

.

8,935

9,018

APP-12831439.FP.FTS.B

,

10

.99

%

,

4/16/27

14,693

14,926

APP-12845270.FP.FTS.B

,

17

.74

%

,

4/16/27

17,773

18,600

APP-13157103.FP.FTS.B

,

9

.24

%

,

4/17/27

.

6,013

6,093

APP-12883157.FP.FTS.B

,

13

.74

%

,

4/17/27

4,825

4,905

APP-12800972.FP.FTS.B

,

17

.49

%

,

4/17/27

10,826

11,239

APP-12800643.FP.FTS.B

,

19

.74

%

,

4/17/27

19,449

20,274

b

APP-13158258.FP.FTS.B

,

19

.99

%

,

4/17/27

7,101

715

APP-12931503.FP.FTS.B

,

13

.24

%

,

4/18/27

10,798

10,991

APP-13141094.FP.FTS.B

,

10

.99

%

,

4/20/27

16,618

16,872

APP-13083128.FP.FTS.B

,

11

.24

%

,

4/20/27

9,184

9,344

APP-13009743.FP.FTS.B

,

10

.99

%

,

4/22/27

8,805

8,950

APP-12674727.FP.FTS.B

,

13

.24

%

,

4/22/27

14,369

14,641

APP-12997870.FP.FTS.B

,

19

.99

%

,

4/23/27

11,652

12,172

APP-12977040.FP.FTS.B

,

20

.49

%

,

4/23/27

7,617

7,950

APP-13166600.FP.FTS.B

,

21

.49

%

,

4/23/27

6,985

7,353

APP-12944703.FP.FTS.B

,

22

.49

%

,

4/23/27

1,848

1,872

APP-13057143.FP.FTS.B

,

10

.99

%

,

4/26/27

14,885

15,132

APP-13061655.FP.FTS.B

,

13

.24

%

,

4/26/27

15,195

15,485

APP-12933713.FP.FTS.B

,

17

.99

%

,

4/26/27

9,967

10,284

APP-13106287.FP.FTS.B

,

11

.74

%

,

4/28/27

19,440

19,795

APP-13060974.FP.FTS.B

,

19

.74

%

,

4/28/27

15,961

16,705

APP-12798277.FP.FTS.B

,

13

.24

%

,

4/29/27

3,616

3,640

APP-13009028.FP.FTS.B

,

10

.99

%

,

4/30/27

9,964

6,774

APP-12974063.FP.FTS.B

,

19

.99

%

,

4/30/27

13,098

13,737

APP-13134349.FP.FTS.B

,

21

.24

%

,

4/30/27

11,169

11,647

APP-13423557.FP.FTS.B

,

10

.99

%

,

5/01/27

12,359

12,526

APP-13424293.FP.FTS.B

,

10

.99

%

,

5/01/27

9,188

9,311

APP-13431042.FP.FTS.B

,

10

.99

%

,

5/01/27

8,663

8,779

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

103

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-13131348.FP.FTS.B

,

13

.74

%

,

5/01/27

$

11,967

$

12,183

APP-13431253.FP.FTS.B

,

16

.49

%

,

5/01/27

10,424

10,606

APP-13408703.FP.FTS.B

,

16

.99

%

,

5/01/27

6,362

6,544

APP-13430747.FP.FTS.B

,

17

.49

%

,

5/01/27

7,730

4,465

APP-13430284.FP.FTS.B

,

19

.99

%

,

5/01/27

5,852

6,076

APP-13430327.FP.FTS.B

,

19

.99

%

,

5/01/27

4,869

5,017

APP-13441350.FP.FTS.B

,

19

.99

%

,

5/01/27

4,865

5,012

APP-13410577.FP.FTS.B

,

22

.99

%

,

5/01/27

7,365

7,672

APP-14247820.FP.FTS.B

,

11

.34

%

,

5/02/27

11,204

11,352

APP-13342784.FP.FTS.B

,

21

.99

%

,

5/02/27

5,869

6,110

APP-13389512.FP.FTS.B

,

13

.24

%

,

5/05/27

9,311

9,463

APP-12270573.FP.FTS.B

,

10

.99

%

,

5/06/27

16,068

16,300

APP-12802041.FP.FTS.B

,

13

.99

%

,

5/06/27

22,275

22,635

APP-12932857.FP.FTS.B

,

18

.99

%

,

5/10/27

4,766

4,920

APP-12775739.FP.FTS.B

,

25

.49

%

,

5/10/27

5,157

5,395

b

APP-13323183.FP.FTS.B

,

18

.74

%

,

5/11/27

18,968

1,991

APP-12412862.FP.FTS.B

,

25

.49

%

,

5/11/27

5,892

6,154

APP-13658270.FP.FTS.B

,

9

.34

%

,

5/12/27

.

13,922

14,123

APP-13418718.FP.FTS.B

,

16

.24

%

,

5/12/27

11,959

12,166

APP-13416172.FP.FTS.B

,

8

.99

%

,

5/13/27

.

10,237

10,397

APP-13031523.FP.FTS.B

,

10

.99

%

,

5/13/27

17,489

17,768

APP-13438034.FP.FTS.B

,

17

.99

%

,

5/13/27

3,614

2,026

APP-13199989.FP.FTS.B

,

16

.74

%

,

5/14/27

22,410

23,238

APP-13436550.FP.FTS.B

,

16

.99

%

,

5/14/27

8,130

8,312

APP-13430567.FP.FTS.B

,

17

.49

%

,

5/14/27

8,274

8,546

APP-13336406.FP.FTS.B

,

18

.49

%

,

5/14/27

4,804

4,857

APP-13431427.FP.FTS.B

,

21

.99

%

,

5/14/27

4,353

4,532

APP-13318759.FP.FTS.B

,

22

.49

%

,

5/14/27

3,880

4,065

APP-13443719.FP.FTS.B

,

22

.49

%

,

5/14/27

4,768

5,010

APP-14548548.FP.FTS.B

,

22

.99

%

,

5/14/27

4,585

4,760

APP-13436993.FP.FTS.B

,

8

.99

%

,

5/15/27

.

10,992

11,167

APP-13396243.FP.FTS.B

,

11

.24

%

,

5/15/27

6,943

7,057

APP-13440554.FP.FTS.B

,

11

.24

%

,

5/15/27

6,177

6,281

APP-13435327.FP.FTS.B

,

13

.24

%

,

5/15/27

11,272

11,487

APP-13663645.FP.FTS.B

,

13

.59

%

,

5/15/27

12,905

13,120

APP-13644113.FP.FTS.B

,

14

.34

%

,

5/15/27

9,299

9,352

APP-13444523.FP.FTS.B

,

16

.99

%

,

5/15/27

12,782

13,235

APP-13672139.FP.FTS.B

,

17

.49

%

,

5/15/27

8,872

9,053

APP-12412882.FP.FTS.B

,

17

.74

%

,

5/15/27

15,252

15,882

APP-13666596.FP.FTS.B

,

20

.49

%

,

5/15/27

7,361

7,691

APP-14531705.FP.FTS.B

,

22

.99

%

,

5/15/27

4,903

5,093

APP-11924095.FP.FTS.B

,

19

.99

%

,

5/16/27

4,578

3,362

APP-13628585.FP.FTS.B

,

20

.49

%

,

5/16/27

9,926

10,391

APP-13680651.FP.FTS.B

,

20

.49

%

,

5/21/27

6,323

6,633

APP-14444232.FP.FTS.B

,

21

.49

%

,

5/21/27

5,910

6,074

APP-13624563.FP.FTS.B

,

22

.99

%

,

5/23/27

6,569

6,900

APP-13629014.FP.FTS.B

,

14

.74

%

,

5/24/27

14,342

14,670

APP-13637168.FP.FTS.B

,

15

.24

%

,

5/25/27

20,681

21,163

APP-13051907.FP.FTS.B

,

25

.49

%

,

5/26/27

5,397

5,701

APP-13598334.FP.FTS.B

,

11

.34

%

,

5/27/27

11,011

11,206

APP-13637703.FP.FTS.B

,

14

.09

%

,

5/30/27

12,981

13,235

APP-13319688.FP.FTS.B

,

14

.49

%

,

5/30/27

13,034

13,327

APP-12770485.FP.FTS.B

,

20

.49

%

,

5/30/27

3,322

3,357

b

APP-13016825.FP.FTS.B

,

17

.99

%

,

6/10/27

14,676

3,022

APP-12884053.FP.FTS.B

,

10

.99

%

,

6/15/27

11,360

11,547

APP-14365422.FP.FTS.B

,

11

.99

%

,

6/15/27

1,381

1,384

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-14257683.FP.FTS.B

,

20

.49

%

,

6/15/27

$

13,963

$

14,622

APP-14388011.FP.FTS.B

,

20

.99

%

,

6/15/27

1,183

1,180

APP-14429358.FP.FTS.B

,

13

.74

%

,

6/17/27

362

362

APP-14236905.FP.FTS.B

,

17

.49

%

,

6/21/27

13,107

13,650

APP-14216604.FP.FTS.B

,

17

.74

%

,

6/21/27

19,980

20,699

APP-14196561.FP.FTS.B

,

13

.59

%

,

6/23/27

18,903

19,281

APP-12910819.FP.FTS.B

,

17

.99

%

,

6/23/27

3,859

3,952

APP-12548143.FP.FTS.B

,

19

.99

%

,

6/23/27

15,241

15,931

APP-14178654.FP.FTS.B

,

9

.34

%

,

6/24/27

.

9,647

9,802

APP-14267906.FP.FTS.B

,

11

.59

%

,

6/24/27

7,259

7,389

APP-14510576.FP.FTS.B

,

22

.74

%

,

6/24/27

6,245

6,570

APP-14427403.FP.FTS.B

,

24

.74

%

,

6/24/27

8,706

9,198

APP-09045394.FP.FTS.B

,

13

.74

%

,

6/25/27

5,602

5,706

APP-14578061.FP.FTS.B

,

11

.74

%

,

6/26/27

18,205

18,507

APP-14268521.FP.FTS.B

,

10

.09

%

,

6/27/27

22,391

22,781

APP-14385312.FP.FTS.B

,

17

.24

%

,

6/28/27

17,612

18,040

APP-14385385.FP.FTS.B

,

19

.24

%

,

6/28/27

16,058

16,736

APP-14377174.FP.FTS.B

,

12

.24

%

,

6/29/27

8,796

8,976

APP-14423027.FP.FTS.B

,

13

.99

%

,

6/30/27

16,191

16,537

APP-13643702.FP.FTS.B

,

18

.99

%

,

6/30/27

11,595

12,072

APP-13649694.FP.FTS.B

,

19

.49

%

,

6/30/27

8,219

8,569

APP-11810505.FP.FTS.B

,

21

.24

%

,

6/30/27

14,529

15,377

APP-14541539.FP.FTS.B

,

12

.49

%

,

7/01/27

4,867

4,948

APP-14431213.FP.FTS.B

,

18

.49

%

,

7/01/27

9,717

10,012

APP-14177847.FP.FTS.B

,

18

.74

%

,

7/08/27

23,708

24,484

APP-13394495.FP.FTS.B

,

11

.49

%

,

7/13/27

7,041

4,988

APP-14515585.FP.FTS.B

,

20

.49

%

,

7/15/27

6,946

7,228

APP-14421841.FP.FTS.B

,

20

.99

%

,

7/15/27

6,355

6,594

APP-13061423.FP.FTS.B

,

13

.24

%

,

7/17/27

11,278

11,484

APP-13484600.FP.FTS.B

,

20

.49

%

,

7/18/27

10,411

10,832

APP-13678923.FP.FTS.B

,

11

.34

%

,

7/20/27

15,431

15,699

APP-13028479.FP.FTS.B

,

21

.74

%

,

7/23/27

3,438

3,474

APP-14420972.FP.FTS.B

,

14

.24

%

,

7/26/27

8,429

8,607

APP-13403231.FP.FTS.B

,

16

.74

%

,

7/30/27

14,900

15,309

APP-14541253.FP.FTS.B

,

13

.99

%

,

7/31/27

21,071

21,467

APP-14545674.FP.FTS.B

,

26

.99

%

,

8/03/27

5,788

6,052

APP-14550089.FP.FTS.B

,

18

.49

%

,

8/06/27

10,996

11,399

APP-14531076.FP.FTS.B

,

23

.24

%

,

8/07/27

10,436

10,893

APP-14569337.FP.FTS.B

,

24

.74

%

,

8/07/27

8,573

8,969

APP-14542132.FP.FTS.B

,

20

.99

%

,

8/15/27

6,178

6,398

APP-13423039.FP.FTS.B

,

14

.24

%

,

9/14/27

22,315

22,821

APP-14568007.FP.FTS.B

,

20

.49

%

,

9/15/27

11,974

12,455

APP-13068321.FP.FTS.B

,

18

.24

%

,

9/25/27

27,064

9,016

APP-12804212.FP.FTS.B

,

22

.49

%

,

10/10/27

7,416

7,809

APP-13659468.FP.FTS.B

,

26

.49

%

,

10/12/27

6,753

7,040

APP-13132268.FP.FTS.B

,

16

.74

%

,

11/01/27

19,621

20,278

APP-13657764.FP.FTS.B

,

16

.74

%

,

11/13/27

20,121

20,539

APP-12042791.FP.FTS.B

,

18

.74

%

,

12/30/27

33,024

6,916

APP-12794031.FP.FTS.B

,

18

.99

%

,

1/28/28

11,021

3,518

b

APP-13352228.FP.FTS.B

,

25

.49

%

,

5/04/35

843

118

APP-14440616.FP.FTS.B

,

25

.49

%

,

7/01/35

211

211

APP-14558687.FP.FTS.B

,

25

.49

%

,

7/07/35

325

324

APP-12236101.FP.FTS.B

,

20

.99

%

,

7/11/35

884

887

APP-14523480.FP.FTS.B

,

18

.99

%

,

7/15/35

865

867

2,816,878

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

104

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

LendingClub

Corp.

154211311.LC.FTS.B

,

20

%

,

11/26/34

....

$

3,374

$

–

162773046.LC.FTS.B

,

20

.55

%

,

12/15/34

..

2,459

–

149326456.LC.FTS.B

,

13

.9

%

,

6/30/35

...

697

697

163432488.LC.FTS.B

,

16

.95

%

,

7/15/35

...

790

685

1,382

LendingClub

Corp.

-

LCX

165922400.LC.FTS.B

,

15

.24

%

,

2/11/35

...

1,961

1,947

LendingClub

Corp.

-

LCX

PM

174304247.LC.FTS.B

,

20

.99

%

,

2/02/26

...

5,808

5,877

185018593.LC.FTS.B

,

18

.99

%

,

1/14/27

...

9,299

9,199

184468285.LC.FTS.B

,

16

.99

%

,

1/15/27

...

6,894

–

185237685.LC.FTS.B

,

18

.49

%

,

1/20/27

...

1,408

614

185250357.LC.FTS.B

,

19

.99

%

,

1/20/27

...

7,282

7,384

185117236.LC.FTS.B

,

20

.99

%

,

1/26/27

...

10,417

10,575

184791777.LC.FTS.B

,

13

.74

%

,

1/28/27

...

4,937

4,923

185597588.LC.FTS.B

,

16

.24

%

,

1/28/27

...

6,773

–

185547681.LC.FTS.B

,

19

.99

%

,

1/28/27

...

4,362

4,423

185488281.LC.FTS.B

,

28

.99

%

,

1/29/27

...

3,573

3,686

184982732.LC.FTS.B

,

16

.99

%

,

2/01/27

...

6,452

6,420

185662157.LC.FTS.B

,

16

.49

%

,

2/07/27

...

7,703

7,657

b

185682815.LC.FTS.B

,

23

.99

%

,

2/09/27

...

6,011

701

185846086.LC.FTS.B

,

21

.99

%

,

2/11/27

...

14,423

–

185835140.LC.FTS.B

,

21

.99

%

,

2/14/27

...

9,233

9,441

185699989.LC.FTS.B

,

23

.99

%

,

2/14/27

...

4,758

4,865

186058311.LC.FTS.B

,

15

.69

%

,

2/15/27

...

18,991

–

186203908.LC.FTS.B

,

21

.99

%

,

2/15/27

...

11,472

11,775

186007586.LC.FTS.B

,

23

.49

%

,

2/15/27

...

6,087

6,228

185942868.LC.FTS.B

,

15

.94

%

,

2/18/27

...

17,301

–

186027871.LC.FTS.B

,

18

.99

%

,

2/20/27

...

10,314

10,287

187037217.LC.FTS.B

,

18

.49

%

,

3/10/27

...

3,544

3,528

187071023.LC.FTS.B

,

17

.99

%

,

3/11/27

...

6,825

6,778

187032664.LC.FTS.B

,

20

.99

%

,

3/11/27

...

9,439

9,518

187178718.LC.FTS.B

,

19

.99

%

,

3/15/27

...

10,105

10,094

186624355.LC.FTS.B

,

21

.49

%

,

3/15/27

...

5,318

5,332

187028667.LC.FTS.B

,

20

.99

%

,

3/17/27

...

7,385

7,453

187080092.LC.FTS.B

,

20

.99

%

,

3/17/27

...

11,371

11,449

187192813.LC.FTS.B

,

20

.49

%

,

3/18/27

...

4,692

4,725

187318217.LC.FTS.B

,

20

.49

%

,

3/18/27

...

13,133

13,269

187235906.LC.FTS.B

,

13

.19

%

,

3/20/27

...

12,847

12,793

186654687.LC.FTS.B

,

23

.49

%

,

3/20/27

...

8,961

9,165

187350401.LC.FTS.B

,

15

.19

%

,

3/21/27

...

6,572

6,560

186875668.LC.FTS.B

,

17

.74

%

,

3/21/27

...

7,704

6,295

187402362.LC.FTS.B

,

21

.99

%

,

3/21/27

...

4,078

–

187430105.LC.FTS.B

,

25

.99

%

,

3/25/27

...

6,390

6,601

187248536.LC.FTS.B

,

13

.19

%

,

3/28/27

...

5,821

5,798

187611207.LC.FTS.B

,

18

.99

%

,

3/28/27

...

9,598

9,503

187609544.LC.FTS.B

,

19

.99

%

,

3/28/27

...

9,689

9,792

187644231.LC.FTS.B

,

19

.99

%

,

3/28/27

...

8,722

8,814

187621983.LC.FTS.B

,

20

.99

%

,

3/28/27

...

6,375

6,441

187670705.LC.FTS.B

,

17

.44

%

,

3/29/27

...

18,780

18,298

187264368.LC.FTS.B

,

20

.99

%

,

3/29/27

...

4,906

4,919

187353272.LC.FTS.B

,

21

.49

%

,

3/29/27

...

11,167

–

187100244.LC.FTS.B

,

Zero

Cpn

,

3/30/27

.

7,006

–

187772972.LC.FTS.B

,

18

.99

%

,

3/30/27

...

12,970

–

187581793.LC.FTS.B

,

19

.99

%

,

3/30/27

...

6,865

6,933

Description

Principal

Amount

Value

LendingClub

Corp.

-

LCX

PM

(continued)

187751574.LC.FTS.B

,

20

.44

%

,

3/30/27

...

$

15,782

$

15,890

187614352.LC.FTS.B

,

20

.99

%

,

3/30/27

...

12,258

12,370

187804301.LC.FTS.B

,

19

.67

%

,

3/31/27

...

16,855

17,059

187535555.LC.FTS.B

,

20

.99

%

,

3/31/27

...

24,264

–

187819893.LC.FTS.B

,

21

.49

%

,

3/31/27

...

19,684

19,915

187825531.LC.FTS.B

,

19

.99

%

,

4/01/27

...

4,404

4,403

187860298.LC.FTS.B

,

23

.99

%

,

4/01/27

...

3,059

3,101

187860052.LC.FTS.B

,

22

.99

%

,

4/03/27

...

5,014

5,107

187891277.LC.FTS.B

,

21

.49

%

,

4/04/27

...

12,280

–

187787243.LC.FTS.B

,

21

.99

%

,

4/04/27

...

7,940

8,089

187765035.LC.FTS.B

,

23

.99

%

,

4/04/27

...

12,190

12,415

187981773.LC.FTS.B

,

22

.99

%

,

4/05/27

...

18

18

188031790.LC.FTS.B

,

20

.49

%

,

4/06/27

...

9,750

9,801

188023733.LC.FTS.B

,

20

.99

%

,

4/06/27

...

3,926

3,933

188040936.LC.FTS.B

,

20

.99

%

,

4/06/27

...

7,358

7,371

187683423.LC.FTS.B

,

20

.99

%

,

4/09/27

...

13,122

–

187944849.LC.FTS.B

,

20

.44

%

,

4/14/27

...

4,955

4,944

187829994.LC.FTS.B

,

22

.99

%

,

4/15/27

...

15,706

16,007

187298854.LC.FTS.B

,

23

.49

%

,

4/15/27

...

18,674

15,071

187906511.LC.FTS.B

,

22

.99

%

,

4/20/27

...

6,257

6,370

187995587.LC.FTS.B

,

6

%

,

5/15/27

......

8,597

8,708

185498696.LC.FTS.B

,

26

.49

%

,

5/26/27

...

13,812

14,223

185497213.LC.FTS.B

,

20

.49

%

,

6/30/27

...

6,438

6,454

187345456.LC.FTS.B

,

25

.99

%

,

7/18/27

...

14,231

14,590

187835579.LC.FTS.B

,

22

.49

%

,

7/30/27

...

2,844

2,867

187054481.LC.FTS.B

,

22

.49

%

,

8/20/27

...

14,035

14,236

185500402.LC.FTS.B

,

17

.74

%

,

9/12/27

...

16,571

15,935

187754766.LC.FTS.B

,

21

.99

%

,

9/30/27

...

14,556

14,593

187316257.LC.FTS.B

,

22

.49

%

,

10/21/27

..

11,957

12,072

187417305.LC.FTS.B

,

22

.99

%

,

11/20/27

..

5,897

–

185367638.LC.FTS.B

,

5

%

,

1/24/28

......

12,924

13,087

185689957.LC.FTS.B

,

5

%

,

2/01/28

......

5,923

6,038

187403735.LC.FTS.B

,

5

%

,

4/10/28

......

7,288

7,416

187202054.LC.FTS.B

,

5

%

,

5/21/28

......

12,405

12,504

172186460.LC.FTS.B

,

10

.19

%

,

3/20/34

...

1,100

–

185704535.LC.FTS.B

,

16

.49

%

,

2/15/35

...

10,008

–

187034706.LC.FTS.B

,

5

%

,

3/31/35

......

6,805

6,833

188000200.LC.FTS.B

,

22

.99

%

,

4/06/35

...

8,984

–

185040393.LC.FTS.B

,

18

.44

%

,

7/07/35

...

186

185

599,718

Prosper

Funding

LLC

1743195.PS.FTS.B

,

21

%

,

10/03/25

......

417

422

1714735.PS.FTS.B

,

13

.6

%

,

11/30/25

....

2,057

2,046

1605548.PS.FTS.B

,

12

.3

%

,

8/16/26

.....

3,668

3,662

1605551.PS.FTS.B

,

18

.3

%

,

8/16/26

.....

3,893

3,955

1606481.PS.FTS.B

,

15

%

,

8/17/26

.......

3,346

3,359

1618512.PS.FTS.B

,

18

.5

%

,

8/20/26

.....

2,893

2,907

1615561.PS.FTS.B

,

15

%

,

8/27/26

.......

993

1,012

1633734.PS.FTS.B

,

16

.63

%

,

9/20/26

....

1,033

1,034

1627891.PS.FTS.B

,

15

.1

%

,

9/21/26

.....

4,693

4,723

1627885.PS.FTS.B

,

15

.29

%

,

9/21/26

....

6,174

6,219

1628383.PS.FTS.B

,

12

.87

%

,

9/22/26

....

763

761

1645247.PS.FTS.B

,

6

%

,

10/27/26

.......

4,365

4,490

1655355.PS.FTS.B

,

12

%

,

10/27/26

......

12,120

12,221

1648957.PS.FTS.B

,

14

.29

%

,

10/27/26

...

3,586

3,646

1645616.PS.FTS.B

,

16

.63

%

,

10/27/26

...

3,535

3,606

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

105

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Prosper

Funding

LLC

(continued)

1655334.PS.FTS.B

,

25

.67

%

,

10/27/26

...

$

2,918

$

3,008

1656189.PS.FTS.B

,

13

.7

%

,

10/28/26

....

4,265

4,335

1656201.PS.FTS.B

,

14

.68

%

,

10/28/26

...

1,262

1,276

1647056.PS.FTS.B

,

13

.7

%

,

10/29/26

....

1,955

1,993

1647023.PS.FTS.B

,

16

.33

%

,

10/29/26

...

9,259

9,460

1647155.PS.FTS.B

,

18

.48

%

,

10/29/26

...

9,317

9,685

1650974.PS.FTS.B

,

11

.1

%

,

11/05/26

.....

5,154

5,116

1660968.PS.FTS.B

,

11

.89

%

,

11/05/26

....

3,818

3,789

1648693.PS.FTS.B

,

12

.7

%

,

11/05/26

....

5,849

5,831

1650971.PS.FTS.B

,

12

.87

%

,

11/05/26

....

8,943

8,888

b

1651400.PS.FTS.B

,

13

.13

%

,

11/05/26

....

9,738

–

1651085.PS.FTS.B

,

25

.6

%

,

11/05/26

....

1,887

1,952

1658134.PS.FTS.B

,

13

.6

%

,

11/08/26

....

1,650

1,648

1651829.PS.FTS.B

,

16

.33

%

,

11/08/26

....

586

583

1653347.PS.FTS.B

,

10

.8

%

,

11/09/26

....

3,396

3,379

1666392.PS.FTS.B

,

11

.2

%

,

11/09/26

.....

2,051

2,040

1651808.PS.FTS.B

,

11

.2

%

,

11/11/26

.....

1,709

1,700

1651412.PS.FTS.B

,

13

.6

%

,

11/11/26

.....

8,944

8,911

1652735.PS.FTS.B

,

10

.8

%

,

11/16/26

....

2,386

2,370

b

1665174.PS.FTS.B

,

12

.5

%

,

11/22/26

....

17,938

–

1657068.PS.FTS.B

,

21

.9

%

,

11/22/26

....

6,682

5,977

1657104.PS.FTS.B

,

10

.4

%

,

11/23/26

....

8,528

8,507

1654979.PS.FTS.B

,

11

.1

%

,

12/05/26

....

2,615

653

1685577.PS.FTS.B

,

28

.23

%

,

12/14/26

...

6,824

7,073

1685967.PS.FTS.B

,

11

.5

%

,

12/15/26

....

5,069

5,037

1679512.PS.FTS.B

,

15

.7

%

,

12/15/26

....

7,707

7,689

1685961.PS.FTS.B

,

18

.48

%

,

12/15/26

...

6,012

6,109

1686345.PS.FTS.B

,

23

%

,

12/15/26

......

4,368

4,540

1673528.PS.FTS.B

,

19

%

,

12/16/26

......

10,093

10,260

1680745.PS.FTS.B

,

13

.3

%

,

12/17/26

....

4,309

4,312

1687770.PS.FTS.B

,

14

.29

%

,

12/17/26

...

5,663

5,655

1687689.PS.FTS.B

,

16

%

,

12/17/26

......

6,192

6,301

1674248.PS.FTS.B

,

16

.5

%

,

12/17/26

....

7,877

7,865

1654303.PS.FTS.B

,

21

.18

%

,

12/18/26

...

4,686

4,068

1688382.PS.FTS.B

,

10

.29

%

,

12/20/26

...

5,349

5,321

1685184.PS.FTS.B

,

12

.4

%

,

12/25/26

....

5,565

5,528

1685808.PS.FTS.B

,

18

.33

%

,

12/29/26

...

4,924

4,932

1681009.PS.FTS.B

,

13

.5

%

,

1/04/27

.....

3,579

1,979

1679959.PS.FTS.B

,

12

.32

%

,

1/09/27

....

2,484

1,340

1687871.PS.FTS.B

,

12

.7

%

,

1/12/27

.....

10,447

10,376

1693777.PS.FTS.B

,

13

.41

%

,

1/12/27

....

530

525

1688213.PS.FTS.B

,

15

.03

%

,

1/12/27

....

3,216

3,201

1688252.PS.FTS.B

,

16

.33

%

,

1/12/27

....

1,304

1,301

1701030.PS.FTS.B

,

18

.25

%

,

1/12/27

....

10,454

10,628

1687862.PS.FTS.B

,

21

.09

%

,

1/12/27

....

3,085

3,201

1694182.PS.FTS.B

,

21

.18

%

,

1/12/27

....

1,554

1,578

1688234.PS.FTS.B

,

25

.6

%

,

1/12/27

.....

1,837

1,908

1701831.PS.FTS.B

,

12

.3

%

,

1/13/27

.....

3,847

3,822

1701273.PS.FTS.B

,

14

.68

%

,

1/13/27

....

7,961

7,907

1688576.PS.FTS.B

,

18

.48

%

,

1/13/27

....

4,614

4,693

1689002.PS.FTS.B

,

19

.23

%

,

1/13/27

....

2,560

2,599

1689590.PS.FTS.B

,

11

.4

%

,

1/14/27

.....

2,278

2,264

1695235.PS.FTS.B

,

12

.24

%

,

1/14/27

....

4,612

4,608

1695712.PS.FTS.B

,

27

.4

%

,

1/14/27

.....

1,173

1,219

1701330.PS.FTS.B

,

16

.1

%

,

1/15/27

.....

4,071

4,134

1703238.PS.FTS.B

,

22

.9

%

,

1/18/27

.....

1,557

1,623

1698271.PS.FTS.B

,

11

.5

%

,

1/19/27

.....

4,562

4,539

Description

Principal

Amount

Value

Prosper

Funding

LLC

(continued)

1692950.PS.FTS.B

,

9

.81

%

,

1/20/27

.....

$

6,302

$

6,273

1692617.PS.FTS.B

,

12

.2

%

,

1/20/27

.....

4,609

4,586

1701660.PS.FTS.B

,

11

.2

%

,

1/27/27

.....

4,019

4,026

1702224.PS.FTS.B

,

14

.68

%

,

1/31/27

....

7,560

7,482

1700619.PS.FTS.B

,

10

.53

%

,

2/05/27

....

9,458

9,381

1714342.PS.FTS.B

,

13

.4

%

,

2/14/27

.....

2,453

2,436

1707812.PS.FTS.B

,

11

.2

%

,

2/15/27

.....

1,784

1,772

1714540.PS.FTS.B

,

11

.2

%

,

2/15/27

.....

7,135

7,086

1708139.PS.FTS.B

,

15

.2

%

,

2/15/27

.....

10,315

10,290

1709063.PS.FTS.B

,

16

.7

%

,

2/15/27

.....

4,867

4,844

1722529.PS.FTS.B

,

19

%

,

3/12/27

.......

11,818

12,108

1733471.PS.FTS.B

,

10

.44

%

,

3/22/27

....

9,147

9,070

1732976.PS.FTS.B

,

10

.53

%

,

3/22/27

....

6,016

5,974

1740175.PS.FTS.B

,

10

.7

%

,

3/22/27

.....

2,471

2,454

1740124.PS.FTS.B

,

11

.61

%

,

3/22/27

....

7,541

7,476

1733513.PS.FTS.B

,

11

.7

%

,

3/22/27

.....

4,391

4,359

1732970.PS.FTS.B

,

11

.79

%

,

3/22/27

....

4,221

4,185

1732922.PS.FTS.B

,

12

.9

%

,

3/22/27

.....

14,042

13,919

1733459.PS.FTS.B

,

13

.7

%

,

3/22/27

.....

14,283

7,482

1742682.PS.FTS.B

,

16

.33

%

,

3/22/27

....

5,565

5,542

1742649.PS.FTS.B

,

16

.8

%

,

3/22/27

.....

8,973

8,936

1740148.PS.FTS.B

,

18

.33

%

,

3/22/27

....

6,866

7,001

1739653.PS.FTS.B

,

18

.48

%

,

3/22/27

....

9,173

9,353

1709645.PS.FTS.B

,

9

.27

%

,

3/23/27

.....

14,342

14,206

1734128.PS.FTS.B

,

10

.08

%

,

3/23/27

....

4,285

3,581

1743894.PS.FTS.B

,

10

.29

%

,

3/23/27

....

16,402

16,266

b

1744077.PS.FTS.B

,

10

.8

%

,

3/23/27

.....

5,723

262

1744092.PS.FTS.B

,

10

.8

%

,

3/23/27

.....

3,511

3,482

1734281.PS.FTS.B

,

11

.4

%

,

3/23/27

.....

4,374

4,338

1740508.PS.FTS.B

,

11

.6

%

,

3/23/27

.....

3,151

3,129

1740955.PS.FTS.B

,

11

.79

%

,

3/23/27

....

10,473

10,385

1733702.PS.FTS.B

,

11

.89

%

,

3/23/27

....

2,000

1,986

1733807.PS.FTS.B

,

12

.32

%

,

3/23/27

....

5,065

5,022

1740880.PS.FTS.B

,

13

.5

%

,

3/23/27

.....

4,901

4,889

1733816.PS.FTS.B

,

15

.1

%

,

3/23/27

.....

8,709

8,698

1734278.PS.FTS.B

,

15

.2

%

,

3/23/27

.....

4,392

4,376

1740958.PS.FTS.B

,

15

.8

%

,

3/23/27

.....

11,068

11,027

1743348.PS.FTS.B

,

16

.43

%

,

3/23/27

....

10,180

10,388

b

1740997.PS.FTS.B

,

16

.8

%

,

3/23/27

.....

10,048

1,352

1744065.PS.FTS.B

,

16

.8

%

,

3/23/27

.....

10,963

9,146

1743540.PS.FTS.B

,

17

.29

%

,

3/23/27

....

7,635

7,804

1743573.PS.FTS.B

,

18

.78

%

,

3/23/27

....

4,374

4,462

1741006.PS.FTS.B

,

19

%

,

3/23/27

.......

3,232

3,297

1741000.PS.FTS.B

,

25

.67

%

,

3/23/27

....

7,351

7,680

1740316.PS.FTS.B

,

28

.23

%

,

3/23/27

....

5,162

5,381

1734563.PS.FTS.B

,

11

.2

%

,

3/24/27

.....

6,439

6,387

1744257.PS.FTS.B

,

14

%

,

3/24/27

.......

1,801

1,797

1744812.PS.FTS.B

,

14

.7

%

,

3/24/27

.....

6,518

6,483

1735826.PS.FTS.B

,

13

.19

%

,

3/27/27

....

10,765

10,751

b

1743544.PS.FTS.B

,

16

.4

%

,

3/28/27

.....

17,570

2,403

1736876.PS.FTS.B

,

19

.3

%

,

3/29/27

.....

4,817

5,012

1747200.PS.FTS.B

,

27

.4

%

,

3/29/27

.....

6,357

6,806

1742146.PS.FTS.B

,

10

.7

%

,

3/31/27

.....

3,881

3,844

1630147.PS.FTS.B

,

14

.38

%

,

3/31/27

....

9,252

9,215

1740187.PS.FTS.B

,

15

.1

%

,

4/01/27

.....

2,304

2,292

1741336.PS.FTS.B

,

25

.9

%

,

4/01/27

.....

3,859

4,039

1749478.PS.FTS.B

,

11

.5

%

,

4/05/27

.....

2,696

2,662

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

106

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Prosper

Funding

LLC

(continued)

1749460.PS.FTS.B

,

11

.7

%

,

4/05/27

.....

$

3,052

$

3,010

1752540.PS.FTS.B

,

11

.7

%

,

4/05/27

.....

8,720

8,601

1740496.PS.FTS.B

,

14

.19

%

,

4/05/27

....

4,218

4,197

1742810.PS.FTS.B

,

16

.7

%

,

4/05/27

.....

1,863

1,842

b

1741168.PS.FTS.B

,

18

.93

%

,

4/05/27

....

15,442

442

1743101.PS.FTS.B

,

10

.5

%

,

4/06/27

.....

1,715

1,692

1743137.PS.FTS.B

,

10

.5

%

,

4/06/27

.....

8,576

8,462

1753416.PS.FTS.B

,

13

.6

%

,

4/06/27

.....

2,800

2,763

1743125.PS.FTS.B

,

14

.7

%

,

4/06/27

.....

9,078

8,983

1752906.PS.FTS.B

,

16

.33

%

,

4/06/27

....

6,491

6,421

1750213.PS.FTS.B

,

25

.6

%

,

4/06/27

.....

1,196

307

1750876.PS.FTS.B

,

10

.29

%

,

4/07/27

....

14,964

14,769

1744037.PS.FTS.B

,

10

.5

%

,

4/07/27

.....

6,432

6,348

1744580.PS.FTS.B

,

11

.2

%

,

4/07/27

.....

4,213

934

1750606.PS.FTS.B

,

12

%

,

4/07/27

.......

3,962

3,924

1744541.PS.FTS.B

,

12

.2

%

,

4/07/27

.....

15,364

15,160

1753842.PS.FTS.B

,

12

.2

%

,

4/07/27

.....

4,389

4,332

1754328.PS.FTS.B

,

13

.1

%

,

4/07/27

.....

4,616

1,029

1744553.PS.FTS.B

,

14

.53

%

,

4/07/27

....

4,486

4,433

1753656.PS.FTS.B

,

14

.6

%

,

4/07/27

.....

11,351

11,237

1744559.PS.FTS.B

,

14

.89

%

,

4/07/27

....

1,856

1,832

1751047.PS.FTS.B

,

19

.3

%

,

4/07/27

.....

11,868

12,026

1750600.PS.FTS.B

,

23

%

,

4/07/27

.......

6,932

7,145

1755057.PS.FTS.B

,

11

.2

%

,

4/08/27

.....

24,070

5,159

1755237.PS.FTS.B

,

16

.02

%

,

4/08/27

....

5,311

5,379

1744907.PS.FTS.B

,

17

.59

%

,

4/08/27

....

1,188

1,204

1755927.PS.FTS.B

,

11

.89

%

,

4/11/27

.....

3,934

3,886

1752289.PS.FTS.B

,

16

.5

%

,

4/11/27

.....

9,293

9,209

1746119.PS.FTS.B

,

18

.13

%

,

4/11/27

.....

4,981

4,935

b

1747364.PS.FTS.B

,

11

.16

%

,

4/12/27

....

8,300

–

1752915.PS.FTS.B

,

12

.5

%

,

4/12/27

.....

11,074

10,925

1757922.PS.FTS.B

,

14

.67

%

,

4/13/27

....

4,537

4,501

1749839.PS.FTS.B

,

25

.6

%

,

4/14/27

.....

7,778

8,070

1733504.PS.FTS.B

,

11

.6

%

,

4/15/27

.....

5,756

5,699

1744277.PS.FTS.B

,

14

.39

%

,

4/15/27

....

4,544

4,498

1751044.PS.FTS.B

,

14

.7

%

,

4/15/27

.....

11,406

11,291

1749974.PS.FTS.B

,

23

.31

%

,

4/15/27

....

3,659

949

1755429.PS.FTS.B

,

10

.5

%

,

4/16/27

.....

4,296

4,244

1734263.PS.FTS.B

,

16

.33

%

,

4/16/27

....

9,453

9,408

1734857.PS.FTS.B

,

10

.5

%

,

4/17/27

.....

1,304

1,291

1749754.PS.FTS.B

,

25

.9

%

,

4/17/27

.....

5,803

5,982

1742819.PS.FTS.B

,

11

.7

%

,

4/19/27

.....

5,528

5,454

1744568.PS.FTS.B

,

12

%

,

4/20/27

.......

5,295

5,226

1747212.PS.FTS.B

,

13

.48

%

,

4/22/27

....

11,437

11,338

1734077.PS.FTS.B

,

14

%

,

4/22/27

.......

3,510

3,493

1744227.PS.FTS.B

,

16

%

,

4/22/27

.......

9,135

7,910

1734284.PS.FTS.B

,

16

.9

%

,

4/22/27

.....

949

968

1752903.PS.FTS.B

,

21

.18

%

,

4/30/27

....

12,485

12,612

1743944.PS.FTS.B

,

24

.2

%

,

4/30/27

.....

2,357

603

1750621.PS.FTS.B

,

17

.37

%

,

5/01/27

....

4,987

5,051

1744730.PS.FTS.B

,

16

.02

%

,

5/06/27

....

4,586

2,665

1744034.PS.FTS.B

,

19

%

,

5/10/27

.......

5,550

5,619

1760306.PS.FTS.B

,

22

.5

%

,

5/20/27

.....

4,005

4,196

1744574.PS.FTS.B

,

19

%

,

7/21/27

.......

1,961

476

1739848.PS.FTS.B

,

21

.9

%

,

9/22/27

.....

4,584

4,791

1691244.PS.FTS.B

,

14

.7

%

,

9/30/27

.....

5,933

3,569

1678714.PS.FTS.B

,

25

.2

%

,

11/14/27

....

10,679

11,078

Description

Principal

Amount

Value

Prosper

Funding

LLC

(continued)

1755876.PS.FTS.B

,

19

.3

%

,

3/31/28

.....

$

11,016

$

11,165

b

1743513.PS.FTS.B

,

11

.4

%

,

3/23/35

.....

464

38

b

1734275.PS.FTS.B

,

15

%

,

3/23/35

.......

3,250

–

b

1740631.PS.FTS.B

,

22

.6

%

,

3/23/35

.....

140

2

b

1739659.PS.FTS.B

,

22

.03

%

,

3/25/35

....

200

7

1735736.PS.FTS.B

,

24

.99

%

,

3/25/35

....

31

14

b

1740193.PS.FTS.B

,

12

.9

%

,

3/29/35

.....

8

–

b

1753815.PS.FTS.B

,

18

.9

%

,

4/07/35

.....

40

13

1752298.PS.FTS.B

,

15

.8

%

,

4/25/35

.....

6,631

6,351

b

1750204.PS.FTS.B

,

15

.29

%

,

7/12/35

....

2,601

–

991,340

Upgrade,

Inc.

-

Card

992304599.UG.FTS.B

,

28

.98

%

,

8/14/25

..

39

39

992081607.UG.FTS.B

,

29

.48

%

,

8/19/25

..

61

62

992474651.UG.FTS.B

,

29

.46

%

,

8/20/25

..

16

16

992157584.UG.FTS.B

,

28

.98

%

,

10/08/25

.

386

156

992131355.UG.FTS.B

,

29

.49

%

,

10/08/25

.

67

11

991996150.UG.FTS.B

,

28

.98

%

,

10/09/25

.

82

76

992100757.UG.FTS.B

,

29

.48

%

,

11/09/25

.

30

31

b

992162625.UG.FTS.B

,

16

.99

%

,

11/19/25

.

37

3

992573827.UG.FTS.B

,

19

.99

%

,

11/19/25

.

539

93

992405476.UG.FTS.B

,

29

.45

%

,

11/20/25

.

71

73

992395091.UG.FTS.B

,

29

.49

%

,

11/20/25

.

74

76

992382150.UG.FTS.B

,

29

.49

%

,

12/20/25

.

2

2

992011909.UG.FTS.B

,

29

.49

%

,

1/09/26

..

78

80

992361782.UG.FTS.B

,

29

.48

%

,

1/19/26

..

104

108

992246618.UG.FTS.B

,

28

.98

%

,

3/11/26

..

50

51

b

992452704.UG.FTS.B

,

19

.99

%

,

3/19/26

..

131

9

992196449.UG.FTS.B

,

29

.49

%

,

4/18/26

..

103

106

b

992597371.UG.FTS.B

,

29

.49

%

,

4/20/26

..

147

10

992237498.UG.FTS.B

,

15

.97

%

,

5/30/26

..

4,061

4,137

992088318.UG.FTS

,

0

.17

%

,

6/01/26

.....

14

14

b

992340621.UG.FTS.B

,

28

.98

%

,

6/17/26

..

120

94

992217550.UG.FTS.B

,

28

.98

%

,

6/20/26

..

115

119

992083215.UG.FTS.B

,

29

.49

%

,

6/20/26

..

61

50

992514855.UG.FTS.B

,

29

.49

%

,

7/20/26

..

60

47

992425148.UG.FTS.B

,

28

.98

%

,

8/20/26

..

172

179

992485527.UG.FTS.B

,

29

.49

%

,

8/20/26

..

130

104

992159329.UG.FTS.B

,

21

.98

%

,

8/29/26

..

106

107

992238434.UG.FTS.B

,

28

.98

%

,

9/12/26

..

398

411

992038832.UG.FTS.B

,

28

.98

%

,

12/09/26

.

706

527

992220224.UG.FTS.B

,

19

.99

%

,

4/04/27

..

1,468

168

991994026.UG.FTS.B

,

29

.49

%

,

4/09/27

..

1,700

415

992277625.UG.FTS.B

,

15

.99

%

,

4/13/27

..

68

68

992296704.UG.FTS.B

,

16

.99

%

,

4/15/27

..

1,249

1,309

b

992430690.UG.FTS.B

,

29

.49

%

,

5/18/27

..

610

430

992239940.UG.FTS.B

,

15

.99

%

,

7/06/27

..

639

669

992193819.UG.FTS.B

,

22

.36

%

,

11/29/27

.

76

79

992002435.UG.FTS.B

,

28

.98

%

,

12/08/28

.

243

29

992058890.UG.FTS.B

,

29

.49

%

,

1/18/29

..

110

112

992156587.UG.FTS.B

,

29

.49

%

,

9/09/29

..

220

103

b

991979851.UG.FTS.B

,

28

.98

%

,

2/23/30

..

22

1

b

992054524.UG.FTS.B

,

17

.99

%

,

3/05/30

..

71

5

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

107

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

b

991993120.UG.FTS.B

,

28

.98

%

,

3/09/30

..

$

5

$

–

b

992013223.UG.FTS.B

,

29

.49

%

,

3/09/30

..

51

4

992189183.UG.FTS.B

,

29

.49

%

,

3/09/30

..

704

721

992204979.UG.FTS.B

,

29

.49

%

,

3/09/30

..

130

133

b

992073990.UG.FTS.B

,

19

.99

%

,

3/19/30

..

71

5

b

992092299.UG.FTS.B

,

21

.98

%

,

3/20/30

..

279

19

b

992099891.UG.FTS.B

,

29

.49

%

,

3/20/30

..

7

1

b

992289091.UG.FTS.B

,

20

.97

%

,

4/12/30

..

58

4

b

992289614.UG.FTS.B

,

28

.98

%

,

4/12/30

..

80

68

b

992345562.UG.FTS.B

,

28

.98

%

,

4/18/30

..

32

2

b

992394901.UG.FTS.B

,

28

.98

%

,

4/18/30

..

171

12

b

992338159.UG.FTS.B

,

29

.48

%

,

4/18/30

..

187

–

b

992368413.UG.FTS.B

,

19

.99

%

,

4/20/30

..

108

8

b

992524050.UG.FTS.B

,

28

.98

%

,

4/20/30

..

20

1

b

992376821.UG.FTS.B

,

29

.48

%

,

4/20/30

..

268

18

b

992182530.UG.FTS.B

,

19

.99

%

,

5/09/30

..

26

2

b

992143879.UG.FTS.B

,

29

.49

%

,

5/09/30

..

38

3

992003521.UG.FTS.B

,

17

.99

%

,

6/01/30

..

1

1

b

991951985.UG.FTS.B

,

28

.98

%

,

6/06/30

..

163

11

992101807.UG.FTS.B

,

29

.49

%

,

6/23/30

..

55

55

992210631.UG.FTS.B

,

18

.97

%

,

7/01/30

..

4

4

992254629.UG.FTS.B

,

17

.99

%

,

7/06/30

..

90

90

992189172.UG.FTS.B

,

28

.98

%

,

7/09/30

..

66

67

991984558.UG.FTS.B

,

29

.49

%

,

7/09/30

..

16

16

992355254.UG.FTS.B

,

28

.98

%

,

7/18/30

..

1

1

b

992394519.UG.FTS.B

,

28

.98

%

,

7/18/30

..

22

1

992057082.UG.FTS.B

,

29

.46

%

,

7/18/30

..

51

51

992120728.UG.FTS.B

,

29

.46

%

,

7/20/30

..

2

2

992172097.UG.FTS.B

,

29

.46

%

,

7/20/30

..

13

2

b

992347993.UG.FTS.B

,

29

.49

%

,

7/21/30

..

99

7

11,488

Upstart

Network,

Inc.

L2782850.UP.FTS.B

,

16

.52

%

,

8/14/25

....

615

606

L2781760.UP.FTS.B

,

22

.09

%

,

8/14/25

....

487

480

FW2787195.UP.FTS.B

,

24

.53

%

,

8/14/25

..

1,423

1,337

b

FW2787085.UP.FTS.B

,

24

.9

%

,

8/28/25

...

802

58

b

L2262597.UP.FTS.B

,

16

.24

%

,

10/16/25

...

1,210

87

FW2263191.UP.FTS.B

,

28

.73

%

,

10/16/25

.

1,166

1,035

b

FW2267398.UP.FTS.B

,

15

.02

%

,

10/17/25

.

910

66

b

FW2780647.UP.FTS.B

,

19

.08

%

,

1/14/26

..

3,102

222

L2789538.UP.FTS.B

,

23

.38

%

,

1/14/26

....

4,430

4,365

L1721509.UP.FTS.B

,

11

.2

%

,

9/16/26

.....

6,086

5,968

FW1720612.UP.FTS.B

,

11

.37

%

,

9/16/26

..

3,661

3,590

FW1721436.UP.FTS.B

,

14

.47

%

,

9/16/26

..

5,537

5,468

L1720338.UP.FTS.B

,

15

.39

%

,

9/16/26

....

4,890

4,830

L1721497.UP.FTS.B

,

16

.37

%

,

9/16/26

....

2,640

2,609

FW1720748.UP.FTS.B

,

16

.61

%

,

9/16/26

..

1,658

1,638

L1722523.UP.FTS.B

,

21

.72

%

,

9/16/26

....

1,250

1,228

FW1722389.UP.FTS.B

,

21

.83

%

,

9/16/26

..

9,749

6,999

L1701780.UP.FTS.B

,

26

.48

%

,

9/16/26

....

3,687

3,628

FW1721156.UP.FTS.B

,

26

.95

%

,

9/16/26

..

8,447

8,313

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW1720986.UP.FTS.B

,

30

.57

%

,

9/16/26

..

$

295

$

291

FW1720294.UP.FTS.B

,

30

.66

%

,

9/16/26

..

1,007

992

L1892951.UP.FTS.B

,

14

.33

%

,

10/21/26

...

1,030

1,014

L1893967.UP.FTS.B

,

14

.49

%

,

10/21/26

...

632

620

L1890982.UP.FTS.B

,

16

.75

%

,

10/21/26

...

2,465

2,439

b

FW1894387.UP.FTS.B

,

17

.87

%

,

10/21/26

.

2,455

384

FW1894844.UP.FTS.B

,

18

.47

%

,

10/21/26

.

8,311

8,180

L1894129.UP.FTS.B

,

19

.51

%

,

10/21/26

...

1,237

875

L1889041.UP.FTS.B

,

19

.76

%

,

10/21/26

...

552

544

L1893140.UP.FTS.B

,

24

.95

%

,

10/21/26

...

706

696

L1890870.UP.FTS.B

,

25

.37

%

,

10/21/26

...

2,097

2,066

FW1893402.UP.FTS.B

,

27

.14

%

,

10/21/26

.

2,451

2,415

L1892234.UP.FTS.B

,

27

.37

%

,

10/21/26

...

4,878

4,811

FW1891795.UP.FTS.B

,

28

.39

%

,

10/21/26

.

4,997

1,364

FW1892884.UP.FTS.B

,

28

.78

%

,

10/21/26

.

972

959

FW1890284.UP.FTS.B

,

30

.97

%

,

10/21/26

.

848

837

L2015861.UP.FTS.B

,

9

.46

%

,

11/10/26

....

3,157

3,078

L2000658.UP.FTS.B

,

11

.67

%

,

11/10/26

...

6,376

6,239

FW2017263.UP.FTS.B

,

13

.09

%

,

11/10/26

.

9,095

4,802

L2017795.UP.FTS.B

,

13

.15

%

,

11/10/26

...

1,759

1,723

L2016861.UP.FTS.B

,

14

.32

%

,

11/10/26

...

5,911

5,790

L2016450.UP.FTS.B

,

15

.84

%

,

11/10/26

...

2,821

2,783

FW2017922.UP.FTS.B

,

16

.45

%

,

11/10/26

.

5,510

5,399

L2017365.UP.FTS.B

,

19

.49

%

,

11/10/26

...

11,579

11,360

L2018057.UP.FTS.B

,

20

.23

%

,

11/10/26

...

7,619

7,458

L2012751.UP.FTS.B

,

20

.27

%

,

11/10/26

...

4,479

4,395

L2018362.UP.FTS.B

,

20

.61

%

,

11/10/26

...

1,203

1,180

L2015725.UP.FTS.B

,

22

.82

%

,

11/10/26

...

627

614

L2018147.UP.FTS.B

,

23

.34

%

,

11/10/26

...

4,902

4,803

L2018074.UP.FTS.B

,

23

.36

%

,

11/10/26

...

2,460

2,409

L2010804.UP.FTS.B

,

24

.21

%

,

11/10/26

...

6,181

6,059

L2017556.UP.FTS.B

,

25

.05

%

,

11/10/26

...

1,426

1,398

L2017313.UP.FTS.B

,

25

.23

%

,

11/10/26

...

1,833

1,798

b

FW2017724.UP.FTS.B

,

26

.2

%

,

11/10/26

..

1,880

293

FW2018097.UP.FTS.B

,

28

.2

%

,

11/10/26

..

747

732

FW2017283.UP.FTS.B

,

29

.28

%

,

11/10/26

.

2,192

2,152

FW2016668.UP.FTS.B

,

29

.41

%

,

11/10/26

.

3,067

3,011

FW2016021.UP.FTS.B

,

29

.96

%

,

11/10/26

.

6,090

5,980

FW2017531.UP.FTS.B

,

30

.14

%

,

11/10/26

.

3,379

3,317

FW2015923.UP.FTS.B

,

30

.28

%

,

11/10/26

.

3,550

3,486

FW2016098.UP.FTS.B

,

30

.28

%

,

11/10/26

.

711

698

FW2015746.UP.FTS.B

,

30

.57

%

,

11/10/26

.

1,295

1,271

FW2017369.UP.FTS.B

,

30

.83

%

,

11/10/26

.

1,340

1,316

FW2015784.UP.FTS.B

,

31

.24

%

,

11/10/26

.

1,033

1,014

FW2015624.UP.FTS.B

,

24

.49

%

,

11/15/26

.

2,472

2,423

L1890702.UP.FTS.B

,

25

.43

%

,

11/19/26

...

2,519

2,483

FW2017448.UP.FTS.B

,

26

.97

%

,

11/20/26

.

918

645

FW2110828.UP.FTS.B

,

6

%

,

11/24/26

....

685

194

L2111539.UP.FTS.B

,

8

.17

%

,

11/24/26

....

2,604

2,540

FW2112522.UP.FTS.B

,

10

.63

%

,

11/24/26

.

272

268

L2110925.UP.FTS.B

,

12

.01

%

,

11/24/26

...

10,399

10,196

L2112036.UP.FTS.B

,

13

.1

%

,

11/24/26

....

527

517

L2112445.UP.FTS.B

,

15

.34

%

,

11/24/26

...

1,091

1,080

L2111566.UP.FTS.B

,

15

.86

%

,

11/24/26

...

1,833

1,815

L2111428.UP.FTS.B

,

15

.89

%

,

11/24/26

...

1,942

1,921

L2111907.UP.FTS.B

,

16

.75

%

,

11/24/26

...

1,114

1,103

FW2112554.UP.FTS.B

,

17

.97

%

,

11/24/26

.

11,389

11,276

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

108

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2103098.UP.FTS.B

,

18

.1

%

,

11/24/26

..

$

1,514

$

1,492

L2112204.UP.FTS.B

,

18

.12

%

,

11/24/26

...

2,198

2,175

L2111433.UP.FTS.B

,

19

.56

%

,

11/24/26

...

1,936

1,907

L2110920.UP.FTS.B

,

20

%

,

11/24/26

.....

5,040

4,968

FW2112337.UP.FTS.B

,

20

.38

%

,

11/24/26

.

4,316

1,206

L2111070.UP.FTS.B

,

20

.97

%

,

11/24/26

...

1,209

1,192

FW2110697.UP.FTS.B

,

21

.79

%

,

11/24/26

.

5,542

5,454

L2111001.UP.FTS.B

,

22

.12

%

,

11/24/26

...

827

814

b

L2109591.UP.FTS.B

,

22

.25

%

,

11/24/26

...

10,649

920

L2111688.UP.FTS.B

,

25

.07

%

,

11/24/26

...

1,041

1,027

FW2111387.UP.FTS.B

,

25

.36

%

,

11/24/26

.

2,346

2,315

L2112349.UP.FTS.B

,

25

.4

%

,

11/24/26

....

4,176

4,121

L2111206.UP.FTS.B

,

25

.46

%

,

11/24/26

...

877

864

L2111177.UP.FTS.B

,

25

.59

%

,

11/24/26

...

3,495

963

FW2109993.UP.FTS.B

,

28

.34

%

,

11/24/26

.

2,167

2,140

FW2112225.UP.FTS.B

,

30

.05

%

,

11/24/26

.

330

326

FW2111816.UP.FTS.B

,

30

.78

%

,

11/24/26

.

1,026

1,015

FW2112102.UP.FTS.B

,

31

.76

%

,

11/24/26

.

3,597

3,557

L2016863.UP.FTS.B

,

13

.15

%

,

11/25/26

...

1,958

503

FW2111859.UP.FTS.B

,

16

.21

%

,

11/28/26

.

3,300

3,266

FW2264096.UP.FTS.B

,

8

.01

%

,

12/16/26

..

3,087

3,008

L2266515.UP.FTS.B

,

8

.1

%

,

12/16/26

....

2,506

2,443

L2264632.UP.FTS.B

,

8

.24

%

,

12/16/26

....

6,917

6,740

L2233679.UP.FTS.B

,

10

.15

%

,

12/16/26

...

2,304

2,246

L2256936.UP.FTS.B

,

11

.09

%

,

12/16/26

...

7,193

7,041

L2261890.UP.FTS.B

,

11

.17

%

,

12/16/26

...

5,437

5,320

FW2263431.UP.FTS.B

,

12

.09

%

,

12/16/26

.

2,557

2,503

L2262690.UP.FTS.B

,

13

.04

%

,

12/16/26

...

3,149

3,084

FW2263216.UP.FTS.B

,

14

.33

%

,

12/16/26

.

377

370

FW2263771.UP.FTS.B

,

14

.5

%

,

12/16/26

..

2,850

2,791

FW2262525.UP.FTS.B

,

14

.73

%

,

12/16/26

.

11,389

11,157

L2266678.UP.FTS.B

,

14

.84

%

,

12/16/26

...

4,943

4,843

L2266887.UP.FTS.B

,

15

.02

%

,

12/16/26

...

2,669

2,636

FW2266772.UP.FTS.B

,

15

.05

%

,

12/16/26

.

3,019

2,981

FW2265961.UP.FTS.B

,

16

.27

%

,

12/16/26

.

2,324

2,296

L2265506.UP.FTS.B

,

16

.32

%

,

12/16/26

...

3,028

2,977

L2261462.UP.FTS.B

,

16

.62

%

,

12/16/26

...

1,288

1,272

L2262304.UP.FTS.B

,

17

.3

%

,

12/16/26

....

5,122

5,061

L2261255.UP.FTS.B

,

17

.42

%

,

12/16/26

...

14,244

14,073

b

L2261469.UP.FTS.B

,

19

.7

%

,

12/16/26

....

1,604

116

L2260922.UP.FTS.B

,

19

.74

%

,

12/16/26

...

2,857

2,801

L2265533.UP.FTS.B

,

19

.85

%

,

12/16/26

...

4,436

3,002

L2262271.UP.FTS.B

,

20

.02

%

,

12/16/26

...

3,710

3,646

FW2262822.UP.FTS.B

,

20

.38

%

,

12/16/26

.

1,233

1,209

L2262115.UP.FTS.B

,

20

.57

%

,

12/16/26

...

894

879

L2266172.UP.FTS.B

,

21

.62

%

,

12/16/26

...

1,462

1,435

FW2265342.UP.FTS.B

,

21

.77

%

,

12/16/26

.

1,465

1,438

L2264438.UP.FTS.B

,

21

.8

%

,

12/16/26

....

2,043

2,020

FW2242546.UP.FTS.B

,

21

.96

%

,

12/16/26

.

4,575

4,497

b

L2262151.UP.FTS.B

,

23

.18

%

,

12/16/26

...

10,672

596

L2266895.UP.FTS.B

,

23

.57

%

,

12/16/26

...

1,715

1,684

L2262668.UP.FTS.B

,

24

.03

%

,

12/16/26

...

1,423

1,398

L2263485.UP.FTS.B

,

24

.71

%

,

12/16/26

...

870

855

FW2263757.UP.FTS.B

,

24

.74

%

,

12/16/26

.

3,254

3,197

FW2263559.UP.FTS.B

,

24

.81

%

,

12/16/26

.

3,328

3,267

FW2266843.UP.FTS.B

,

24

.86

%

,

12/16/26

.

1,307

1,285

L2264771.UP.FTS.B

,

25

.35

%

,

12/16/26

...

854

600

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2262592.UP.FTS.B

,

25

.43

%

,

12/16/26

...

$

351

$

347

L2236916.UP.FTS.B

,

25

.5

%

,

12/16/26

....

1,758

1,727

FW2265341.UP.FTS.B

,

25

.64

%

,

12/16/26

.

4,398

4,322

FW2263939.UP.FTS.B

,

26

.78

%

,

12/16/26

.

1,667

1,639

FW2266619.UP.FTS.B

,

27

.46

%

,

12/16/26

.

1,665

1,637

FW2260718.UP.FTS.B

,

28

.56

%

,

12/16/26

.

913

898

FW2264712.UP.FTS.B

,

28

.97

%

,

12/16/26

.

994

978

FW2264681.UP.FTS.B

,

29

.13

%

,

12/16/26

.

1,837

1,807

FW2261708.UP.FTS.B

,

30

.67

%

,

12/16/26

.

1,528

1,058

FW2266558.UP.FTS.B

,

30

.86

%

,

12/16/26

.

939

924

FW2266459.UP.FTS.B

,

30

.98

%

,

12/16/26

.

519

511

FW2260770.UP.FTS.B

,

31

.08

%

,

12/16/26

.

705

694

FW2270153.UP.FTS.B

,

7

.21

%

,

12/17/26

..

1,424

1,389

FW2269719.UP.FTS.B

,

7

.26

%

,

12/17/26

..

4,140

2,674

L2269403.UP.FTS.B

,

7

.47

%

,

12/17/26

....

5,063

4,934

L2269259.UP.FTS.B

,

8

.25

%

,

12/17/26

....

1,033

1,006

L2268096.UP.FTS.B

,

8

.29

%

,

12/17/26

....

8,262

8,052

L2267269.UP.FTS.B

,

8

.51

%

,

12/17/26

....

5,184

5,053

L2271105.UP.FTS.B

,

9

.17

%

,

12/17/26

....

10,556

10,304

FW2267252.UP.FTS.B

,

9

.41

%

,

12/17/26

..

194

191

L2266480.UP.FTS.B

,

10

.61

%

,

12/17/26

...

1,253

1,226

FW2269561.UP.FTS.B

,

11

.28

%

,

12/17/26

.

2,308

2,260

L2263798.UP.FTS.B

,

11

.32

%

,

12/17/26

...

9,681

9,479

L2270002.UP.FTS.B

,

11

.76

%

,

12/17/26

...

1,635

1,601

L2270705.UP.FTS.B

,

12

.61

%

,

12/17/26

...

3,680

3,604

L2269154.UP.FTS.B

,

12

.96

%

,

12/17/26

...

7,562

7,402

b

FW2269825.UP.FTS.B

,

13

.55

%

,

12/17/26

.

2,303

166

L2264006.UP.FTS.B

,

13

.57

%

,

12/17/26

...

3,983

2,642

L2269188.UP.FTS.B

,

14

.18

%

,

12/17/26

...

2,038

1,996

FW2259052.UP.FTS.B

,

14

.44

%

,

12/17/26

.

2,658

2,603

L2267899.UP.FTS.B

,

15

.39

%

,

12/17/26

...

3,834

3,757

L2269989.UP.FTS.B

,

15

.72

%

,

12/17/26

...

11,561

11,418

L2269665.UP.FTS.B

,

16

.5

%

,

12/17/26

....

6,268

6,194

L2269419.UP.FTS.B

,

17

%

,

12/17/26

.....

4,224

1,110

L2270652.UP.FTS.B

,

17

.8

%

,

12/17/26

....

1,111

1,098

FW2270802.UP.FTS.B

,

17

.83

%

,

12/17/26

.

397

392

L2270265.UP.FTS.B

,

18

.3

%

,

12/17/26

....

799

790

L2267799.UP.FTS.B

,

18

.33

%

,

12/17/26

...

2,805

2,772

FW2268753.UP.FTS.B

,

19

.71

%

,

12/17/26

.

2,059

2,035

L2267364.UP.FTS.B

,

20

.36

%

,

12/17/26

...

904

888

L2268745.UP.FTS.B

,

20

.6

%

,

12/17/26

....

1,979

540

L2268926.UP.FTS.B

,

20

.65

%

,

12/17/26

...

11,160

10,963

L2268079.UP.FTS.B

,

20

.72

%

,

12/17/26

...

1,611

1,582

L2270132.UP.FTS.B

,

20

.75

%

,

12/17/26

...

619

608

b

L2270631.UP.FTS.B

,

21

.07

%

,

12/17/26

...

6,278

952

L2268043.UP.FTS.B

,

21

.67

%

,

12/17/26

...

21,302

20,931

FW2268457.UP.FTS.B

,

22

.16

%

,

12/17/26

.

4,839

4,752

FW2263842.UP.FTS.B

,

22

.41

%

,

12/17/26

.

6,378

6,261

L2214006.UP.FTS.B

,

22

.76

%

,

12/17/26

...

300

295

FW2267880.UP.FTS.B

,

23

.11

%

,

12/17/26

.

4,262

4,191

FW2271155.UP.FTS.B

,

23

.14

%

,

12/17/26

.

5,121

5,028

FW2270621.UP.FTS.B

,

23

.29

%

,

12/17/26

.

1,846

1,813

L2267371.UP.FTS.B

,

23

.36

%

,

12/17/26

...

557

547

FW2270716.UP.FTS.B

,

24

.09

%

,

12/17/26

.

2,157

2,119

FW2268352.UP.FTS.B

,

24

.36

%

,

12/17/26

.

1,393

1,369

L2269673.UP.FTS.B

,

24

.46

%

,

12/17/26

...

433

426

b

L2268401.UP.FTS.B

,

25

.14

%

,

12/17/26

...

1,748

273

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

109

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2268106.UP.FTS.B

,

25

.26

%

,

12/17/26

...

$

9,818

$

9,652

b

FW2265199.UP.FTS.B

,

27

.31

%

,

12/17/26

.

2,835

202

FW2267234.UP.FTS.B

,

28

.03

%

,

12/17/26

.

500

492

b

FW2271113.UP.FTS.B

,

29

.49

%

,

12/17/26

.

1,855

293

FW2260471.UP.FTS.B

,

30

.04

%

,

12/17/26

.

3,746

2,654

FW2260486.UP.FTS.B

,

30

.33

%

,

12/17/26

.

6,983

6,875

FW2266749.UP.FTS.B

,

30

.39

%

,

12/17/26

.

606

597

FW2267969.UP.FTS.B

,

31

.13

%

,

12/17/26

.

1,928

1,899

FW2269656.UP.FTS.B

,

31

.22

%

,

12/17/26

.

756

744

FW2266605.UP.FTS.B

,

31

.38

%

,

12/17/26

.

1,133

1,115

FW2266148.UP.FTS.B

,

14

.03

%

,

12/21/26

.

1,976

1,314

L2269424.UP.FTS.B

,

8

.98

%

,

12/28/26

....

4,037

3,932

L2261820.UP.FTS.B

,

15

.32

%

,

12/28/26

...

18,855

18,474

FW2267947.UP.FTS.B

,

20

.33

%

,

12/28/26

.

2,599

2,549

L2474331.UP.FTS.B

,

5

.25

%

,

1/20/27

....

3,437

3,322

L2471525.UP.FTS.B

,

5

.57

%

,

1/20/27

....

13,888

13,426

L2475014.UP.FTS.B

,

5

.92

%

,

1/20/27

....

306

298

L2475724.UP.FTS.B

,

7

.86

%

,

1/20/27

....

3,545

3,454

L2473450.UP.FTS.B

,

8

.65

%

,

1/20/27

....

9,100

8,866

FW2473955.UP.FTS.B

,

8

.68

%

,

1/20/27

...

1,010

989

FW2473331.UP.FTS.B

,

9

.04

%

,

1/20/27

...

5,608

5,476

L2474865.UP.FTS.B

,

9

.49

%

,

1/20/27

....

1,271

1,243

L2474080.UP.FTS.B

,

9

.61

%

,

1/20/27

....

3,455

3,367

L2472065.UP.FTS.B

,

9

.95

%

,

1/20/27

....

2,784

2,713

L2471859.UP.FTS.B

,

12

.54

%

,

1/20/27

....

5,789

5,668

L2474658.UP.FTS.B

,

12

.78

%

,

1/20/27

....

1,936

1,896

L2471480.UP.FTS.B

,

13

.4

%

,

1/20/27

....

1,042

816

L2473476.UP.FTS.B

,

14

%

,

1/20/27

......

2,512

2,462

L2471439.UP.FTS.B

,

14

.4

%

,

1/20/27

....

436

427

L2472468.UP.FTS.B

,

14

.46

%

,

1/20/27

....

2,380

2,331

L2474447.UP.FTS.B

,

14

.59

%

,

1/20/27

....

1,748

1,712

L2475028.UP.FTS.B

,

14

.75

%

,

1/20/27

....

1,991

1,951

FW2471019.UP.FTS.B

,

15

.35

%

,

1/20/27

..

429

420

L2474491.UP.FTS.B

,

15

.9

%

,

1/20/27

....

1,785

1,764

L2471752.UP.FTS.B

,

16

.14

%

,

1/20/27

....

2,435

2,408

L2471471.UP.FTS.B

,

19

.65

%

,

1/20/27

....

2,779

2,733

L2474729.UP.FTS.B

,

20

.39

%

,

1/20/27

....

4,297

4,221

L2473064.UP.FTS.B

,

21

.2

%

,

1/20/27

....

552

543

L2473306.UP.FTS.B

,

21

.55

%

,

1/20/27

....

2,638

2,593

FW2475846.UP.FTS.B

,

23

.25

%

,

1/20/27

..

2,015

1,980

FW2474184.UP.FTS.B

,

23

.79

%

,

1/20/27

..

2,064

2,030

FW2473402.UP.FTS.B

,

24

.11

%

,

1/20/27

..

8,107

7,975

L2472023.UP.FTS.B

,

24

.83

%

,

1/20/27

....

1,227

1,207

L2471728.UP.FTS.B

,

25

.34

%

,

1/20/27

....

4,760

4,684

L2471667.UP.FTS.B

,

25

.39

%

,

1/20/27

....

3,569

3,513

b

FW2475280.UP.FTS.B

,

27

.6

%

,

1/20/27

...

6,628

1,053

FW2475302.UP.FTS.B

,

30

.28

%

,

1/20/27

..

2,328

2,295

FW2473987.UP.FTS.B

,

30

.82

%

,

1/20/27

..

526

519

FW2473631.UP.FTS.B

,

30

.87

%

,

1/20/27

..

571

563

FW2474925.UP.FTS.B

,

31

.01

%

,

1/20/27

..

785

619

FW2475230.UP.FTS.B

,

31

.1

%

,

1/20/27

...

808

553

FW2473891.UP.FTS.B

,

31

.57

%

,

1/20/27

..

3,462

3,412

L2477575.UP.FTS.B

,

4

.96

%

,

1/21/27

....

3,300

3,204

FW2478227.UP.FTS.B

,

5

.11

%

,

1/21/27

...

3,789

3,662

L2478495.UP.FTS.B

,

5

.12

%

,

1/21/27

....

3,447

3,331

L2446259.UP.FTS.B

,

5

.18

%

,

1/21/27

....

3,351

3,241

L2478466.UP.FTS.B

,

5

.39

%

,

1/21/27

....

3,795

3,668

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2478450.UP.FTS.B

,

5

.42

%

,

1/21/27

....

$

2,078

$

2,008

L2480061.UP.FTS.B

,

5

.73

%

,

1/21/27

....

3,871

3,747

L2459372.UP.FTS.B

,

5

.76

%

,

1/21/27

....

5,224

5,050

L2477090.UP.FTS.B

,

5

.84

%

,

1/21/27

....

2,091

2,021

L2477803.UP.FTS.B

,

6

.01

%

,

1/21/27

....

14,523

14,043

L2477744.UP.FTS.B

,

6

.17

%

,

1/21/27

....

12,964

12,533

L2477424.UP.FTS.B

,

6

.43

%

,

1/21/27

....

7,035

6,802

L2480644.UP.FTS.B

,

6

.59

%

,

1/21/27

....

8,815

8,524

L2480479.UP.FTS.B

,

6

.6

%

,

1/21/27

.....

2,257

2,183

L2480622.UP.FTS.B

,

6

.63

%

,

1/21/27

....

11,292

10,919

L2478510.UP.FTS.B

,

7

.06

%

,

1/21/27

....

496

481

L2461602.UP.FTS.B

,

7

.51

%

,

1/21/27

....

17,886

17,423

L2478233.UP.FTS.B

,

7

.75

%

,

1/21/27

....

1,437

1,400

FW2480389.UP.FTS.B

,

7

.87

%

,

1/21/27

...

2,698

2,628

L2477326.UP.FTS.B

,

8

.52

%

,

1/21/27

....

9,084

8,850

L2480346.UP.FTS.B

,

8

.56

%

,

1/21/27

....

806

787

L2481499.UP.FTS.B

,

9

.01

%

,

1/21/27

....

1,342

1,308

L2477347.UP.FTS.B

,

9

.48

%

,

1/21/27

....

627

611

FW2478172.UP.FTS.B

,

9

.55

%

,

1/21/27

...

2,330

1,511

L2477329.UP.FTS.B

,

9

.62

%

,

1/21/27

....

3,326

3,241

L2477858.UP.FTS.B

,

9

.8

%

,

1/21/27

.....

9,065

8,835

L2480599.UP.FTS.B

,

9

.99

%

,

1/21/27

....

8,491

8,306

FW2479183.UP.FTS.B

,

10

.05

%

,

1/21/27

..

3,161

3,093

L2480405.UP.FTS.B

,

10

.65

%

,

1/21/27

....

2,252

2,204

FW2478301.UP.FTS.B

,

10

.7

%

,

1/21/27

...

2,779

2,709

L2476472.UP.FTS.B

,

10

.79

%

,

1/21/27

....

1,854

1,815

FW2480584.UP.FTS.B

,

10

.82

%

,

1/21/27

..

2,229

2,182

L2476577.UP.FTS.B

,

11

.24

%

,

1/21/27

....

1,513

1,481

FW2480576.UP.FTS.B

,

11

.26

%

,

1/21/27

..

8,937

8,749

L2477410.UP.FTS.B

,

11

.79

%

,

1/21/27

....

3,570

3,507

FW2477060.UP.FTS.B

,

11

.89

%

,

1/21/27

..

11,408

11,170

L2481328.UP.FTS.B

,

12

.51

%

,

1/21/27

....

1,928

1,888

L2479402.UP.FTS.B

,

12

.63

%

,

1/21/27

....

3,130

802

L2480894.UP.FTS.B

,

14

.25

%

,

1/21/27

....

4,680

4,583

L2481349.UP.FTS.B

,

14

.92

%

,

1/21/27

....

3,033

2,971

FW2476598.UP.FTS.B

,

14

.99

%

,

1/21/27

..

4,017

3,935

FW2476545.UP.FTS.B

,

15

.04

%

,

1/21/27

..

3,999

3,918

FW2476940.UP.FTS.B

,

15

.14

%

,

1/21/27

..

851

836

L2472995.UP.FTS.B

,

15

.34

%

,

1/21/27

....

1,205

1,191

L2480635.UP.FTS.B

,

16

.62

%

,

1/21/27

....

2,043

2,021

L2481665.UP.FTS.B

,

17

.36

%

,

1/21/27

....

1,651

1,633

FW2476814.UP.FTS.B

,

17

.49

%

,

1/21/27

..

2,193

1,478

FW2470384.UP.FTS.B

,

19

.99

%

,

1/21/27

..

2,704

1,828

b

L2481444.UP.FTS.B

,

20

.35

%

,

1/21/27

....

4,076

636

FW2479867.UP.FTS.B

,

21

.17

%

,

1/21/27

..

1,450

996

FW2476171.UP.FTS.B

,

24

.01

%

,

1/21/27

..

1,734

1,190

L2476196.UP.FTS.B

,

24

.05

%

,

1/21/27

....

324

296

L2480692.UP.FTS.B

,

24

.23

%

,

1/21/27

....

509

352

FW2476307.UP.FTS.B

,

24

.31

%

,

1/21/27

..

722

711

L2477602.UP.FTS.B

,

25

.12

%

,

1/21/27

....

1,825

1,796

L2450581.UP.FTS.B

,

25

.25

%

,

1/21/27

....

2,101

2,069

b

L2477171.UP.FTS.B

,

25

.43

%

,

1/21/27

....

2,163

71

b

L2477959.UP.FTS.B

,

25

.85

%

,

1/21/27

....

5,171

818

L2478675.UP.FTS.B

,

25

.98

%

,

1/21/27

....

8,378

8,247

L2476870.UP.FTS.B

,

26

.94

%

,

1/21/27

....

1,398

1,377

FW2480795.UP.FTS.B

,

27

.7

%

,

1/21/27

...

1,316

1,297

b

FW2476474.UP.FTS.B

,

28

.03

%

,

1/21/27

..

1,460

105

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

110

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2477133.UP.FTS.B

,

28

.1

%

,

1/21/27

...

$

4,348

$

1,146

FW2478384.UP.FTS.B

,

28

.67

%

,

1/21/27

..

820

808

FW2480886.UP.FTS.B

,

29

.21

%

,

1/21/27

..

15,737

3,996

FW2480439.UP.FTS.B

,

29

.92

%

,

1/21/27

..

1,689

1,660

FW2476060.UP.FTS.B

,

30

.53

%

,

1/21/27

..

2,915

2,875

FW2476388.UP.FTS.B

,

30

.81

%

,

1/21/27

..

4,321

4,262

FW2479214.UP.FTS.B

,

30

.9

%

,

1/21/27

...

5,765

3,947

FW2481906.UP.FTS.B

,

30

.96

%

,

1/21/27

..

563

391

b

FW2482047.UP.FTS.B

,

32

.18

%

,

1/21/27

..

8,136

1,335

FW2479301.UP.FTS.B

,

31

.22

%

,

1/28/27

..

562

554

FW2472901.UP.FTS.B

,

21

.26

%

,

2/01/27

..

4,575

4,492

L2480452.UP.FTS.B

,

14

.24

%

,

2/02/27

....

2,079

2,035

L2473112.UP.FTS.B

,

11

.72

%

,

2/03/27

....

1,997

1,953

FW2480948.UP.FTS.B

,

11

.69

%

,

2/05/27

..

10,035

9,816

L2476441.UP.FTS.B

,

22

.74

%

,

2/06/27

....

2,777

709

L2477998.UP.FTS.B

,

10

.21

%

,

2/10/27

....

7,795

7,623

L1722234.UP.FTS.B

,

12

.18

%

,

2/16/27

....

3,482

3,409

L1722117.UP.FTS.B

,

23

.46

%

,

2/16/27

....

5,080

1,324

L1722725.UP.FTS.B

,

25

.76

%

,

2/16/27

....

860

582

L1722547.UP.FTS.B

,

26

.6

%

,

2/16/27

....

1,670

1,111

FW1721612.UP.FTS.B

,

26

.87

%

,

2/16/27

..

2,123

2,085

FW1720421.UP.FTS.B

,

27

.95

%

,

2/16/27

..

2,861

2,808

FW1720737.UP.FTS.B

,

29

.83

%

,

2/16/27

..

1,564

1,054

L2656149.UP.FTS.B

,

4

.9

%

,

2/18/27

.....

15,075

14,559

L2654934.UP.FTS.B

,

6

.41

%

,

2/18/27

....

3,771

3,661

L2657504.UP.FTS.B

,

7

.74

%

,

2/18/27

....

3,200

3,116

L2653066.UP.FTS.B

,

9

.34

%

,

2/18/27

....

88

87

FW2653627.UP.FTS.B

,

9

.99

%

,

2/18/27

...

2,035

1,983

FW2657539.UP.FTS.B

,

10

.96

%

,

2/18/27

..

4,328

4,232

FW2653836.UP.FTS.B

,

10

.99

%

,

2/18/27

..

1,067

1,046

L2655850.UP.FTS.B

,

11

.44

%

,

2/18/27

....

10,697

10,462

L2657392.UP.FTS.B

,

12

.09

%

,

2/18/27

....

5,577

5,456

FW2654132.UP.FTS.B

,

12

.73

%

,

2/18/27

..

8,631

8,441

L2653291.UP.FTS.B

,

12

.9

%

,

2/18/27

....

1,478

1,447

FW2654033.UP.FTS.B

,

13

.1

%

,

2/18/27

...

2,945

2,190

FW2657544.UP.FTS.B

,

14

.38

%

,

2/18/27

..

7,997

7,828

FW2656039.UP.FTS.B

,

14

.43

%

,

2/18/27

..

953

933

FW2655411.UP.FTS.B

,

14

.47

%

,

2/18/27

..

1,101

1,077

L2655911.UP.FTS.B

,

14

.57

%

,

2/18/27

....

6,228

6,097

FW2653497.UP.FTS.B

,

14

.59

%

,

2/18/27

..

6,647

6,506

L2653926.UP.FTS.B

,

14

.76

%

,

2/18/27

....

6,127

6,002

FW2656874.UP.FTS.B

,

15

.48

%

,

2/18/27

..

1,388

1,371

L2657406.UP.FTS.B

,

15

.83

%

,

2/18/27

....

6,756

6,676

L2656610.UP.FTS.B

,

15

.94

%

,

2/18/27

....

6,352

6,219

FW2655801.UP.FTS.B

,

16

.39

%

,

2/18/27

..

2,298

2,271

L2655952.UP.FTS.B

,

16

.47

%

,

2/18/27

....

5,114

5,053

FW2654911.UP.FTS.B

,

16

.77

%

,

2/18/27

..

963

951

FW2655755.UP.FTS.B

,

17

.36

%

,

2/18/27

..

3,651

3,576

L2656274.UP.FTS.B

,

17

.4

%

,

2/18/27

....

862

847

L2648053.UP.FTS.B

,

17

.58

%

,

2/18/27

....

2,797

2,765

FW2655219.UP.FTS.B

,

17

.61

%

,

2/18/27

..

12,066

8,038

FW2657700.UP.FTS.B

,

17

.81

%

,

2/18/27

..

5,629

5,524

L2656742.UP.FTS.B

,

17

.82

%

,

2/18/27

....

2,504

644

L2653689.UP.FTS.B

,

18

.18

%

,

2/18/27

....

1,619

1,076

L2653164.UP.FTS.B

,

18

.21

%

,

2/18/27

....

4,794

4,740

L2657353.UP.FTS.B

,

18

.73

%

,

2/18/27

....

6,971

4,526

FW2656424.UP.FTS.B

,

19

.82

%

,

2/18/27

..

1,476

1,450

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2657677.UP.FTS.B

,

20

.65

%

,

2/18/27

..

$

2,473

$

2,430

FW2654620.UP.FTS.B

,

20

.83

%

,

2/18/27

..

2,104

2,066

L2656191.UP.FTS.B

,

20

.98

%

,

2/18/27

....

2,205

1,697

FW2657310.UP.FTS.B

,

21

.81

%

,

2/18/27

..

1,565

1,536

L2655942.UP.FTS.B

,

21

.87

%

,

2/18/27

....

5,479

5,420

L2656980.UP.FTS.B

,

22

.68

%

,

2/18/27

....

3,689

3,624

b

FW2657375.UP.FTS.B

,

23

.29

%

,

2/18/27

..

1,605

117

FW2657769.UP.FTS.B

,

24

.23

%

,

2/18/27

..

5,160

5,072

L2657363.UP.FTS.B

,

24

.67

%

,

2/18/27

....

2,804

2,757

FW2656918.UP.FTS.B

,

25

.32

%

,

2/18/27

..

2,854

2,806

b

L2657540.UP.FTS.B

,

25

.32

%

,

2/18/27

....

906

140

FW2654552.UP.FTS.B

,

25

.75

%

,

2/18/27

..

2,582

2,539

FW2656585.UP.FTS.B

,

25

.76

%

,

2/18/27

..

2,631

2,588

b

FW2656127.UP.FTS.B

,

28

.24

%

,

2/18/27

..

1,563

112

FW2657275.UP.FTS.B

,

28

.44

%

,

2/18/27

..

1,546

1,521

FW2657124.UP.FTS.B

,

28

.84

%

,

2/18/27

..

4,395

3,483

FW2656448.UP.FTS.B

,

29

.81

%

,

2/18/27

..

2,601

2,561

FW2654690.UP.FTS.B

,

30

.25

%

,

2/18/27

..

560

552

FW2652797.UP.FTS.B

,

30

.47

%

,

2/18/27

..

857

844

FW2656342.UP.FTS.B

,

30

.71

%

,

2/18/27

..

459

452

FW2655259.UP.FTS.B

,

30

.9

%

,

2/18/27

...

2,531

2,494

FW2655652.UP.FTS.B

,

30

.92

%

,

2/18/27

..

16,092

15,839

FW2653746.UP.FTS.B

,

30

.93

%

,

2/18/27

..

1,065

1,049

FW2654823.UP.FTS.B

,

31

.05

%

,

2/18/27

..

865

851

FW2652957.UP.FTS.B

,

31

.1

%

,

2/18/27

...

590

458

FW2656050.UP.FTS.B

,

31

.14

%

,

2/18/27

..

1,168

1,151

FW2653299.UP.FTS.B

,

31

.23

%

,

2/18/27

..

2,327

1,588

FW2652650.UP.FTS.B

,

31

.46

%

,

2/18/27

..

2,550

2,517

FW2653485.UP.FTS.B

,

27

.32

%

,

2/20/27

..

4,883

4,805

FW2655382.UP.FTS.B

,

29

.8

%

,

2/25/27

...

3,496

3,443

L2782778.UP.FTS.B

,

5

.38

%

,

3/14/27

....

7,598

7,360

L2786047.UP.FTS.B

,

5

.71

%

,

3/14/27

....

1,915

1,855

FW2785225.UP.FTS.B

,

5

.78

%

,

3/14/27

...

7,476

7,244

L2785533.UP.FTS.B

,

5

.87

%

,

3/14/27

....

4,481

4,341

L2785761.UP.FTS.B

,

6

.14

%

,

3/14/27

....

15,418

14,941

L2788888.UP.FTS.B

,

6

.14

%

,

3/14/27

....

3,385

3,287

L2786287.UP.FTS.B

,

6

.48

%

,

3/14/27

....

172

170

L2789358.UP.FTS.B

,

6

.49

%

,

3/14/27

....

19,231

18,636

L2789856.UP.FTS.B

,

6

.67

%

,

3/14/27

....

3,536

3,427

L2786197.UP.FTS.B

,

6

.8

%

,

3/14/27

.....

1,890

1,841

L2776276.UP.FTS.B

,

6

.89

%

,

3/14/27

....

9,061

8,792

L2785513.UP.FTS.B

,

6

.9

%

,

3/14/27

.....

6,279

6,086

L2783455.UP.FTS.B

,

7

.28

%

,

3/14/27

....

15,965

15,476

L2781599.UP.FTS.B

,

7

.38

%

,

3/14/27

....

2,121

2,056

L2784013.UP.FTS.B

,

7

.38

%

,

3/14/27

....

7,532

7,360

L2783926.UP.FTS.B

,

7

.49

%

,

3/14/27

....

7,200

6,980

L2781938.UP.FTS.B

,

7

.6

%

,

3/14/27

.....

19,704

19,102

FW2780236.UP.FTS.B

,

7

.69

%

,

3/14/27

...

13,812

13,491

L2788290.UP.FTS.B

,

7

.73

%

,

3/14/27

....

3,775

3,687

L2784113.UP.FTS.B

,

7

.9

%

,

3/14/27

......

4,354

4,253

L2769930.UP.FTS.B

,

7

.96

%

,

3/14/27

....

12,279

11,994

FW2784974.UP.FTS.B

,

8

.13

%

,

3/14/27

...

18,560

18,130

L2780083.UP.FTS.B

,

8

.23

%

,

3/14/27

....

17,842

17,424

FW2781791.UP.FTS.B

,

8

.25

%

,

3/14/27

...

12,181

11,896

L2789155.UP.FTS.B

,

8

.26

%

,

3/14/27

....

9,950

9,720

L2780176.UP.FTS.B

,

8

.31

%

,

3/14/27

....

19,910

19,449

L2764977.UP.FTS.B

,

8

.36

%

,

3/14/27

....

4,303

4,204

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

111

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2782254.UP.FTS.B

,

8

.42

%

,

3/14/27

....

$

3,082

$

2,990

L2782003.UP.FTS.B

,

8

.5

%

,

3/14/27

.....

9,103

8,890

L2787246.UP.FTS.B

,

8

.5

%

,

3/14/27

.....

998

975

L2784591.UP.FTS.B

,

8

.72

%

,

3/14/27

....

20,034

19,571

FW2780109.UP.FTS.B

,

8

.73

%

,

3/14/27

...

5,997

5,857

L2789064.UP.FTS.B

,

8

.75

%

,

3/14/27

....

7,966

7,782

L2786540.UP.FTS.B

,

8

.81

%

,

3/14/27

....

2,166

2,116

L2783739.UP.FTS.B

,

8

.99

%

,

3/14/27

....

3,412

3,333

L2785284.UP.FTS.B

,

9

.11

%

,

3/14/27

.....

2,175

2,125

L2785081.UP.FTS.B

,

9

.13

%

,

3/14/27

....

7,113

6,949

L2780310.UP.FTS.B

,

9

.24

%

,

3/14/27

....

7,265

7,098

L2780047.UP.FTS.B

,

9

.4

%

,

3/14/27

.....

10,773

10,523

L2780296.UP.FTS.B

,

9

.41

%

,

3/14/27

....

13,028

12,728

FW2782447.UP.FTS.B

,

9

.67

%

,

3/14/27

...

8,937

8,732

FW2783021.UP.FTS.B

,

9

.72

%

,

3/14/27

...

5,244

5,124

L2780798.UP.FTS.B

,

9

.77

%

,

3/14/27

....

3,661

3,577

L2788004.UP.FTS.B

,

9

.9

%

,

3/14/27

.....

8,153

7,966

FW2783844.UP.FTS.B

,

10

%

,

3/14/27

....

2,042

1,995

b

L2781395.UP.FTS.B

,

10

.07

%

,

3/14/27

....

12,500

1,709

L2789352.UP.FTS.B

,

10

.18

%

,

3/14/27

....

5,319

5,210

L2785217.UP.FTS.B

,

10

.21

%

,

3/14/27

....

11,527

11,295

FW2780436.UP.FTS.B

,

10

.28

%

,

3/14/27

..

2,418

2,363

L2785592.UP.FTS.B

,

10

.32

%

,

3/14/27

....

6,972

6,829

L2782038.UP.FTS.B

,

10

.33

%

,

3/14/27

....

20,499

20,032

FW2781353.UP.FTS.B

,

10

.54

%

,

3/14/27

..

13,163

12,864

FW2781880.UP.FTS.B

,

10

.6

%

,

3/14/27

...

8,647

8,471

L2784328.UP.FTS.B

,

10

.71

%

,

3/14/27

....

18,929

12,066

FW2784241.UP.FTS.B

,

10

.82

%

,

3/14/27

..

4,109

4,029

FW2783122.UP.FTS.B

,

10

.84

%

,

3/14/27

..

1,652

1,618

L2785568.UP.FTS.B

,

10

.89

%

,

3/14/27

....

4,422

4,332

FW2781725.UP.FTS.B

,

11

.04

%

,

3/14/27

..

4,259

4,178

FW2786689.UP.FTS.B

,

11

.07

%

,

3/14/27

..

1,368

1,341

L2787329.UP.FTS.B

,

11

.09

%

,

3/14/27

....

1,451

1,421

L2786414.UP.FTS.B

,

11

.1

%

,

3/14/27

.....

2,695

2,641

L2785769.UP.FTS.B

,

11

.11

%

,

3/14/27

....

6,667

6,532

L2780313.UP.FTS.B

,

11

.15

%

,

3/14/27

....

20,750

20,330

L2786841.UP.FTS.B

,

11

.25

%

,

3/14/27

....

4,155

4,071

FW2784513.UP.FTS.B

,

11

.29

%

,

3/14/27

..

5,396

5,317

FW2783670.UP.FTS.B

,

11

.3

%

,

3/14/27

...

4,162

4,078

FW2787754.UP.FTS.B

,

11

.35

%

,

3/14/27

..

8,718

8,545

L2780596.UP.FTS.B

,

11

.42

%

,

3/14/27

....

4,994

4,896

L2785144.UP.FTS.B

,

11

.47

%

,

3/14/27

....

4,173

4,089

L2784105.UP.FTS.B

,

11

.55

%

,

3/14/27

....

6,259

6,133

L2789734.UP.FTS.B

,

11

.68

%

,

3/14/27

....

5,536

5,438

L2785328.UP.FTS.B

,

11

.77

%

,

3/14/27

....

2,860

2,802

L2779976.UP.FTS.B

,

11

.78

%

,

3/14/27

....

2,680

2,619

L2781320.UP.FTS.B

,

11

.83

%

,

3/14/27

....

12,652

12,398

L2782425.UP.FTS.B

,

11

.95

%

,

3/14/27

....

3,157

3,093

L2784249.UP.FTS.B

,

12

.05

%

,

3/14/27

....

14,606

14,317

L2779695.UP.FTS.B

,

12

.07

%

,

3/14/27

....

10,088

9,886

L2786241.UP.FTS.B

,

12

.07

%

,

3/14/27

....

10,510

10,299

L2781389.UP.FTS.B

,

12

.12

%

,

3/14/27

....

8,413

8,244

L2785480.UP.FTS.B

,

12

.19

%

,

3/14/27

....

7,491

7,344

L2783293.UP.FTS.B

,

12

.24

%

,

3/14/27

....

6,320

6,193

L2781089.UP.FTS.B

,

12

.27

%

,

3/14/27

....

2,234

2,189

FW2781045.UP.FTS.B

,

12

.41

%

,

3/14/27

..

3,117

3,056

L2785022.UP.FTS.B

,

12

.43

%

,

3/14/27

....

8,449

8,260

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2789283.UP.FTS.B

,

12

.43

%

,

3/14/27

....

$

8,630

$

8,460

L2784478.UP.FTS.B

,

12

.55

%

,

3/14/27

....

1,042

1,026

L2782900.UP.FTS.B

,

12

.63

%

,

3/14/27

....

4,986

4,888

L2785749.UP.FTS.B

,

12

.65

%

,

3/14/27

....

6,356

6,230

b

FW2785256.UP.FTS.B

,

12

.69

%

,

3/14/27

..

22,265

3,133

FW2786124.UP.FTS.B

,

12

.69

%

,

3/14/27

..

4,030

3,949

L2784017.UP.FTS.B

,

12

.7

%

,

3/14/27

....

1,030

1,010

L2783427.UP.FTS.B

,

12

.77

%

,

3/14/27

....

3,010

2,950

L2779872.UP.FTS.B

,

12

.82

%

,

3/14/27

....

784

769

L2780197.UP.FTS.B

,

12

.84

%

,

3/14/27

....

6,373

6,246

FW2784873.UP.FTS.B

,

12

.88

%

,

3/14/27

..

6,030

5,917

FW2780429.UP.FTS.B

,

12

.96

%

,

3/14/27

..

2,704

2,651

L2757291.UP.FTS.B

,

12

.97

%

,

3/14/27

....

1,683

1,651

L2781348.UP.FTS.B

,

12

.98

%

,

3/14/27

....

6,557

6,426

L2789648.UP.FTS.B

,

12

.99

%

,

3/14/27

....

2,555

2,504

L2785427.UP.FTS.B

,

13

.01

%

,

3/14/27

....

1,052

1,031

L2786071.UP.FTS.B

,

13

.02

%

,

3/14/27

....

2,722

2,669

L2785265.UP.FTS.B

,

13

.07

%

,

3/14/27

....

1,833

1,797

L2789482.UP.FTS.B

,

13

.14

%

,

3/14/27

....

8,108

7,947

L2789300.UP.FTS.B

,

13

.2

%

,

3/14/27

....

5,500

5,393

L2783463.UP.FTS.B

,

13

.21

%

,

3/14/27

....

4,570

4,468

L2785549.UP.FTS.B

,

13

.25

%

,

3/14/27

....

2,817

2,762

L2785339.UP.FTS.B

,

13

.26

%

,

3/14/27

....

5,555

5,445

FW2775855.UP.FTS.B

,

13

.32

%

,

3/14/27

..

21,347

20,932

b

FW2785848.UP.FTS.B

,

13

.4

%

,

3/14/27

...

6,348

352

FW2787165.UP.FTS.B

,

13

.47

%

,

3/14/27

..

4,266

4,183

FW2789036.UP.FTS.B

,

13

.51

%

,

3/14/27

..

10,936

10,719

L2785005.UP.FTS.B

,

13

.54

%

,

3/14/27

....

6,434

6,307

L2778983.UP.FTS.B

,

13

.58

%

,

3/14/27

....

4,115

4,035

FW2785775.UP.FTS.B

,

13

.59

%

,

3/14/27

..

10,122

9,925

L2785594.UP.FTS.B

,

13

.62

%

,

3/14/27

....

1,632

1,600

L2782918.UP.FTS.B

,

13

.85

%

,

3/14/27

....

1,982

1,943

FW2783338.UP.FTS.B

,

13

.88

%

,

3/14/27

..

7,503

544

L2776854.UP.FTS.B

,

13

.89

%

,

3/14/27

....

10,885

10,671

L2780968.UP.FTS.B

,

13

.89

%

,

3/14/27

....

3,343

2,146

L2787639.UP.FTS.B

,

13

.93

%

,

3/14/27

....

2,754

2,700

FW2781533.UP.FTS.B

,

13

.96

%

,

3/14/27

..

11,002

10,786

L2785675.UP.FTS.B

,

14

.06

%

,

3/14/27

....

2,971

2,914

L2780420.UP.FTS.B

,

14

.17

%

,

3/14/27

....

5,136

5,037

L2783211.UP.FTS.B

,

14

.21

%

,

3/14/27

....

12,976

12,722

FW2788869.UP.FTS.B

,

14

.25

%

,

3/14/27

..

3,206

3,143

L2782210.UP.FTS.B

,

14

.35

%

,

3/14/27

....

2,170

2,127

FW2787191.UP.FTS.B

,

14

.4

%

,

3/14/27

...

13,824

8,823

FW2783492.UP.FTS.B

,

14

.41

%

,

3/14/27

..

6,516

6,388

L2782049.UP.FTS.B

,

14

.43

%

,

3/14/27

....

6,150

6,030

L2779895.UP.FTS.B

,

14

.52

%

,

3/14/27

....

4,017

3,948

L2787542.UP.FTS.B

,

14

.57

%

,

3/14/27

....

3,464

3,403

L2779917.UP.FTS.B

,

14

.65

%

,

3/14/27

....

4,573

4,483

FW2790537.UP.FTS.B

,

14

.66

%

,

3/14/27

..

10,890

10,677

FW2787310.UP.FTS.B

,

14

.7

%

,

3/14/27

...

433

424

L2785114.UP.FTS.B

,

14

.72

%

,

3/14/27

....

5,209

5,109

L2785570.UP.FTS.B

,

14

.73

%

,

3/14/27

....

17,443

17,102

L2784692.UP.FTS.B

,

14

.74

%

,

3/14/27

....

3,053

2,993

L2781163.UP.FTS.B

,

14

.78

%

,

3/14/27

....

3,509

3,441

L2788260.UP.FTS.B

,

14

.88

%

,

3/14/27

....

1,878

1,842

L2784500.UP.FTS.B

,

14

.95

%

,

3/14/27

....

2,330

2,286

b

L2785803.UP.FTS.B

,

15

.06

%

,

3/14/27

....

3,565

164

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

112

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2787981.UP.FTS.B

,

15

.07

%

,

3/14/27

....

$

500

$

492

L2790024.UP.FTS.B

,

15

.07

%

,

3/14/27

....

865

848

L2789351.UP.FTS.B

,

15

.12

%

,

3/14/27

....

6,575

6,448

FW2779319.UP.FTS.B

,

15

.17

%

,

3/14/27

..

834

825

FW2783642.UP.FTS.B

,

15

.18

%

,

3/14/27

..

1,448

1,420

L2785487.UP.FTS.B

,

15

.19

%

,

3/14/27

....

17,552

17,211

L2781288.UP.FTS.B

,

15

.2

%

,

3/14/27

....

1,317

1,291

L2782134.UP.FTS.B

,

15

.23

%

,

3/14/27

....

5,217

5,161

L2786073.UP.FTS.B

,

15

.34

%

,

3/14/27

....

18,687

18,324

FW2788688.UP.FTS.B

,

15

.38

%

,

3/14/27

..

4,781

4,688

L2781912.UP.FTS.B

,

15

.44

%

,

3/14/27

....

3,823

2,472

FW2783726.UP.FTS.B

,

15

.47

%

,

3/14/27

..

3,783

3,743

b

L2782475.UP.FTS.B

,

15

.49

%

,

3/14/27

....

5,565

388

L2787379.UP.FTS.B

,

15

.51

%

,

3/14/27

....

7,143

7,069

L2779187.UP.FTS.B

,

15

.67

%

,

3/14/27

....

9,003

8,898

b

FW2780435.UP.FTS.B

,

15

.71

%

,

3/14/27

..

3,002

217

L2787103.UP.FTS.B

,

15

.71

%

,

3/14/27

....

16,525

16,206

L2788269.UP.FTS.B

,

15

.76

%

,

3/14/27

....

2,343

2,298

L2785537.UP.FTS.B

,

15

.78

%

,

3/14/27

....

1,475

1,460

L2780255.UP.FTS.B

,

15

.79

%

,

3/14/27

....

18,867

18,509

L2781597.UP.FTS.B

,

15

.79

%

,

3/14/27

....

11,899

11,670

L2788017.UP.FTS.B

,

15

.83

%

,

3/14/27

....

2,523

2,497

b

L2786790.UP.FTS.B

,

15

.86

%

,

3/14/27

....

2,870

205

L2785504.UP.FTS.B

,

15

.88

%

,

3/14/27

....

1,012

1,001

FW2720638.UP.FTS.B

,

15

.89

%

,

3/14/27

..

9,001

8,907

FW2782452.UP.FTS.B

,

15

.89

%

,

3/14/27

..

4,433

4,347

L2779778.UP.FTS.B

,

15

.94

%

,

3/14/27

....

8,086

2,019

L2782963.UP.FTS.B

,

15

.98

%

,

3/14/27

....

3,563

3,525

L2789937.UP.FTS.B

,

15

.99

%

,

3/14/27

....

1,371

1,348

L2790390.UP.FTS.B

,

15

.99

%

,

3/14/27

....

1,774

1,739

L2781166.UP.FTS.B

,

16

.07

%

,

3/14/27

....

4,750

4,700

L2782280.UP.FTS.B

,

16

.08

%

,

3/14/27

....

6,282

4,030

L2779021.UP.FTS.B

,

16

.32

%

,

3/14/27

....

3,502

855

L2783945.UP.FTS.B

,

16

.32

%

,

3/14/27

....

4,724

3,020

L2781334.UP.FTS.B

,

16

.44

%

,

3/14/27

....

4,483

4,437

FW2787232.UP.FTS.B

,

16

.47

%

,

3/14/27

..

1,562

1,545

L2788530.UP.FTS.B

,

16

.48

%

,

3/14/27

....

11,181

11,065

L2781937.UP.FTS.B

,

16

.51

%

,

3/14/27

....

2,517

2,477

L2785787.UP.FTS.B

,

16

.51

%

,

3/14/27

....

2,140

2,100

L2788921.UP.FTS.B

,

16

.56

%

,

3/14/27

....

3,527

3,462

L2784909.UP.FTS.B

,

16

.61

%

,

3/14/27

....

1,930

1,911

FW2786140.UP.FTS.B

,

16

.66

%

,

3/14/27

..

1,020

839

L2781826.UP.FTS.B

,

16

.66

%

,

3/14/27

....

1,074

1,054

L2786003.UP.FTS.B

,

16

.71

%

,

3/14/27

....

1,494

1,479

b

L2786728.UP.FTS.B

,

16

.78

%

,

3/14/27

....

5,109

764

L2783630.UP.FTS.B

,

16

.79

%

,

3/14/27

....

12,331

12,203

L2790588.UP.FTS.B

,

16

.81

%

,

3/14/27

....

1,793

1,759

FW2790218.UP.FTS.B

,

16

.82

%

,

3/14/27

..

1,569

1,539

L2781471.UP.FTS.B

,

16

.84

%

,

3/14/27

....

493

483

L2790374.UP.FTS.B

,

16

.87

%

,

3/14/27

....

3,545

3,508

L2780924.UP.FTS.B

,

16

.96

%

,

3/14/27

....

3,123

3,092

L2783224.UP.FTS.B

,

16

.97

%

,

3/14/27

....

995

983

b

FW2781271.UP.FTS.B

,

17

.06

%

,

3/14/27

..

3,965

165

L2780352.UP.FTS.B

,

17

.09

%

,

3/14/27

....

4,864

1,162

FW2780002.UP.FTS.B

,

17

.17

%

,

3/14/27

..

1,361

1,347

L2788261.UP.FTS.B

,

17

.17

%

,

3/14/27

....

553

543

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2779719.UP.FTS.B

,

17

.2

%

,

3/14/27

...

$

2,930

$

2,900

L2785657.UP.FTS.B

,

17

.24

%

,

3/14/27

....

1,986

1,965

L2783179.UP.FTS.B

,

17

.39

%

,

3/14/27

....

4,067

3,996

L2785862.UP.FTS.B

,

17

.44

%

,

3/14/27

....

18,081

17,738

FW2781874.UP.FTS.B

,

17

.45

%

,

3/14/27

..

452

448

L2789286.UP.FTS.B

,

17

.58

%

,

3/14/27

....

4,371

2,842

FW2783200.UP.FTS.B

,

17

.6

%

,

3/14/27

...

6,305

6,243

L2780580.UP.FTS.B

,

17

.7

%

,

3/14/27

....

1,576

1,561

b

L2785162.UP.FTS.B

,

17

.72

%

,

3/14/27

....

10,436

1,585

FW2784396.UP.FTS.B

,

17

.89

%

,

3/14/27

..

1,774

1,743

FW2779862.UP.FTS.B

,

17

.93

%

,

3/14/27

..

455

450

L2785495.UP.FTS.B

,

17

.96

%

,

3/14/27

....

1,685

1,668

FW2781007.UP.FTS.B

,

18

.03

%

,

3/14/27

..

4,028

3,071

L2780829.UP.FTS.B

,

18

.05

%

,

3/14/27

....

4,374

4,330

FW2781770.UP.FTS.B

,

18

.09

%

,

3/14/27

..

1,467

1,439

L2785717.UP.FTS.B

,

18

.12

%

,

3/14/27

....

7,298

7,172

FW2771881.UP.FTS.B

,

18

.18

%

,

3/14/27

..

2,283

2,243

L2762731.UP.FTS.B

,

18

.21

%

,

3/14/27

....

2,969

2,913

L2785773.UP.FTS.B

,

18

.25

%

,

3/14/27

....

6,175

6,112

L2784355.UP.FTS.B

,

18

.3

%

,

3/14/27

....

1,417

1,403

L2781131.UP.FTS.B

,

18

.34

%

,

3/14/27

....

4,802

4,711

L2781963.UP.FTS.B

,

18

.43

%

,

3/14/27

....

4,992

4,906

L2789078.UP.FTS.B

,

18

.45

%

,

3/14/27

....

1,789

1,758

FW2788462.UP.FTS.B

,

18

.48

%

,

3/14/27

..

4,567

4,490

L2761321.UP.FTS.B

,

18

.5

%

,

3/14/27

....

1,287

1,265

L2779732.UP.FTS.B

,

18

.53

%

,

3/14/27

....

4,722

4,641

L2788795.UP.FTS.B

,

18

.58

%

,

3/14/27

....

4,589

4,505

L2789629.UP.FTS.B

,

18

.6

%

,

3/14/27

....

2,523

2,480

L2780206.UP.FTS.B

,

18

.66

%

,

3/14/27

....

4,611

4,533

L2789624.UP.FTS.B

,

18

.67

%

,

3/14/27

....

7,351

7,277

L2783944.UP.FTS.B

,

18

.73

%

,

3/14/27

....

4,523

4,445

FW2784433.UP.FTS.B

,

18

.76

%

,

3/14/27

..

3,130

3,099

L2783654.UP.FTS.B

,

18

.81

%

,

3/14/27

....

6,066

5,963

L2784627.UP.FTS.B

,

18

.83

%

,

3/14/27

....

4,165

4,121

L2782107.UP.FTS.B

,

18

.88

%

,

3/14/27

....

5,067

4,980

L2779673.UP.FTS.B

,

19

.08

%

,

3/14/27

....

3,002

2,950

L2785730.UP.FTS.B

,

19

.13

%

,

3/14/27

....

11,428

11,218

FW2754559.UP.FTS.B

,

19

.14

%

,

3/14/27

..

11,554

11,439

b

L2783530.UP.FTS.B

,

19

.22

%

,

3/14/27

....

2,819

205

FW2779984.UP.FTS.B

,

19

.29

%

,

3/14/27

..

3,388

3,331

L2779286.UP.FTS.B

,

19

.31

%

,

3/14/27

....

2,779

2,732

L2785478.UP.FTS.B

,

19

.34

%

,

3/14/27

....

23,173

22,778

L2787510.UP.FTS.B

,

19

.38

%

,

3/14/27

....

9,811

9,647

L2784108.UP.FTS.B

,

19

.4

%

,

3/14/27

....

9,987

9,889

L2784181.UP.FTS.B

,

19

.58

%

,

3/14/27

....

11,443

11,253

L2782824.UP.FTS.B

,

19

.61

%

,

3/14/27

....

5,127

5,041

FW2780425.UP.FTS.B

,

19

.66

%

,

3/14/27

..

6,977

6,909

L2780913.UP.FTS.B

,

19

.68

%

,

3/14/27

....

2,978

2,949

L2784343.UP.FTS.B

,

19

.81

%

,

3/14/27

....

2,331

2,291

L2781737.UP.FTS.B

,

19

.91

%

,

3/14/27

....

2,330

2,307

L2782045.UP.FTS.B

,

19

.92

%

,

3/14/27

....

7,324

7,255

L2782730.UP.FTS.B

,

19

.94

%

,

3/14/27

....

4,669

4,590

L2784726.UP.FTS.B

,

19

.97

%

,

3/14/27

....

7,664

7,526

FW2785877.UP.FTS.B

,

20

.08

%

,

3/14/27

..

2,480

2,455

L2780471.UP.FTS.B

,

20

.16

%

,

3/14/27

....

2,809

2,762

L2785428.UP.FTS.B

,

20

.21

%

,

3/14/27

....

2,036

147

b

L2779074.UP.FTS.B

,

20

.27

%

,

3/14/27

....

3,023

101

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

113

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2782852.UP.FTS.B

,

20

.32

%

,

3/14/27

....

$

517

$

507

L2781217.UP.FTS.B

,

20

.42

%

,

3/14/27

....

5,971

5,865

b

L2782942.UP.FTS.B

,

20

.56

%

,

3/14/27

....

5,584

811

FW2785996.UP.FTS.B

,

20

.67

%

,

3/14/27

..

2,544

2,501

FW2781564.UP.FTS.B

,

20

.75

%

,

3/14/27

..

1,647

422

FW2785244.UP.FTS.B

,

20

.75

%

,

3/14/27

..

3,565

3,506

FW2780653.UP.FTS.B

,

20

.84

%

,

3/14/27

..

5,032

4,950

L2786023.UP.FTS.B

,

20

.84

%

,

3/14/27

....

3,306

3,248

L2786517.UP.FTS.B

,

20

.9

%

,

3/14/27

....

7,614

7,487

L2790205.UP.FTS.B

,

20

.92

%

,

3/14/27

....

804

790

L2780447.UP.FTS.B

,

21

.03

%

,

3/14/27

....

1,743

1,726

FW2783376.UP.FTS.B

,

21

.04

%

,

3/14/27

..

1,580

1,554

L2783728.UP.FTS.B

,

21

.18

%

,

3/14/27

....

1,565

1,539

FW2783359.UP.FTS.B

,

21

.23

%

,

3/14/27

..

8,067

7,932

FW2780777.UP.FTS.B

,

21

.29

%

,

3/14/27

..

1,550

1,524

b

L2780757.UP.FTS.B

,

21

.34

%

,

3/14/27

....

989

73

b

FW2781871.UP.FTS.B

,

21

.39

%

,

3/14/27

..

6,621

476

L2783471.UP.FTS.B

,

21

.41

%

,

3/14/27

....

4,782

4,703

L2784388.UP.FTS.B

,

21

.47

%

,

3/14/27

....

1,677

1,649

L2789869.UP.FTS.B

,

21

.53

%

,

3/14/27

....

3,668

3,604

L2784140.UP.FTS.B

,

21

.67

%

,

3/14/27

....

5,761

5,661

L2782992.UP.FTS.B

,

21

.68

%

,

3/14/27

....

9,544

9,384

L2784561.UP.FTS.B

,

22

.05

%

,

3/14/27

....

4,256

3,286

L2785618.UP.FTS.B

,

22

.23

%

,

3/14/27

....

10,951

10,762

L2785258.UP.FTS.B

,

22

.27

%

,

3/14/27

....

13,504

13,271

L2784609.UP.FTS.B

,

22

.31

%

,

3/14/27

....

3,087

3,058

b

L2780097.UP.FTS.B

,

22

.4

%

,

3/14/27

....

3,074

462

L2781968.UP.FTS.B

,

22

.4

%

,

3/14/27

....

4,814

4,731

L2780470.UP.FTS.B

,

22

.46

%

,

3/14/27

....

2,438

2,396

L2784446.UP.FTS.B

,

22

.46

%

,

3/14/27

....

2,151

2,130

FW2790759.UP.FTS.B

,

22

.58

%

,

3/14/27

..

4,892

3,281

L2787644.UP.FTS.B

,

22

.58

%

,

3/14/27

....

10,616

10,517

FW2784227.UP.FTS.B

,

22

.62

%

,

3/14/27

..

1,859

1,827

L2781656.UP.FTS.B

,

22

.82

%

,

3/14/27

....

2,614

2,571

L2785473.UP.FTS.B

,

22

.94

%

,

3/14/27

....

4,451

4,375

FW2782255.UP.FTS.B

,

22

.97

%

,

3/14/27

..

4,360

4,287

FW2784934.UP.FTS.B

,

23

%

,

3/14/27

....

10,393

10,219

L2780183.UP.FTS.B

,

23

.06

%

,

3/14/27

....

3,824

3,759

L2784662.UP.FTS.B

,

23

.09

%

,

3/14/27

....

2,379

2,339

L2784336.UP.FTS.B

,

23

.23

%

,

3/14/27

....

5,834

5,735

L2784879.UP.FTS.B

,

23

.27

%

,

3/14/27

....

13,735

13,503

L2760019.UP.FTS.B

,

23

.32

%

,

3/14/27

....

1,287

847

FW2784660.UP.FTS.B

,

23

.39

%

,

3/14/27

..

6,179

6,075

L2782909.UP.FTS.B

,

23

.52

%

,

3/14/27

....

2,153

2,117

L2785861.UP.FTS.B

,

23

.55

%

,

3/14/27

....

855

841

L2785160.UP.FTS.B

,

23

.61

%

,

3/14/27

....

2,218

1,468

FW2780693.UP.FTS.B

,

23

.64

%

,

3/14/27

..

829

815

L2780981.UP.FTS.B

,

23

.73

%

,

3/14/27

....

1,223

1,202

FW2782598.UP.FTS.B

,

23

.76

%

,

3/14/27

..

2,154

2,118

FW2779943.UP.FTS.B

,

23

.77

%

,

3/14/27

..

1,344

1,322

L2777367.UP.FTS.B

,

23

.84

%

,

3/14/27

....

4,262

4,191

L2755133.UP.FTS.B

,

23

.9

%

,

3/14/27

....

5,344

5,255

L2782516.UP.FTS.B

,

23

.94

%

,

3/14/27

....

3,678

3,618

FW2782245.UP.FTS.B

,

23

.97

%

,

3/14/27

..

1,864

1,833

L2785033.UP.FTS.B

,

23

.98

%

,

3/14/27

....

1,278

1,257

L2785483.UP.FTS.B

,

24

.04

%

,

3/14/27

....

12,134

11,933

FW2785302.UP.FTS.B

,

24

.36

%

,

3/14/27

..

4,092

2,730

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2782467.UP.FTS.B

,

24

.36

%

,

3/14/27

....

$

8,876

$

8,729

b

FW2784019.UP.FTS.B

,

24

.41

%

,

3/14/27

..

1,783

60

L2787675.UP.FTS.B

,

24

.41

%

,

3/14/27

....

1,688

1,119

L2785189.UP.FTS.B

,

24

.51

%

,

3/14/27

....

16,984

16,704

L2780976.UP.FTS.B

,

24

.53

%

,

3/14/27

....

2,010

1,977

L2783176.UP.FTS.B

,

24

.55

%

,

3/14/27

....

2,513

2,473

FW2784794.UP.FTS.B

,

24

.59

%

,

3/14/27

..

1,978

1,946

L2789217.UP.FTS.B

,

24

.59

%

,

3/14/27

....

3,128

2,095

FW2786154.UP.FTS.B

,

24

.69

%

,

3/14/27

..

2,117

2,083

FW2784504.UP.FTS.B

,

24

.71

%

,

3/14/27

..

2,178

2,143

L2763354.UP.FTS.B

,

24

.72

%

,

3/14/27

....

4,889

4,809

FW2789200.UP.FTS.B

,

24

.76

%

,

3/14/27

..

4,954

4,873

L2782914.UP.FTS.B

,

24

.81

%

,

3/14/27

....

2,645

2,601

L2782406.UP.FTS.B

,

24

.86

%

,

3/14/27

....

744

732

FW2785579.UP.FTS.B

,

24

.87

%

,

3/14/27

..

747

735

b

L2780171.UP.FTS.B

,

24

.87

%

,

3/14/27

....

315

22

FW2787364.UP.FTS.B

,

24

.92

%

,

3/14/27

..

2,730

2,686

FW2781259.UP.FTS.B

,

24

.94

%

,

3/14/27

..

329

323

FW2789180.UP.FTS.B

,

24

.98

%

,

3/14/27

..

2,119

2,085

L2762807.UP.FTS.B

,

25

.04

%

,

3/14/27

....

728

490

L2782211.UP.FTS.B

,

25

.12

%

,

3/14/27

....

2,002

1,969

FW2786218.UP.FTS.B

,

25

.14

%

,

3/14/27

..

4,028

3,963

FW2779775.UP.FTS.B

,

25

.16

%

,

3/14/27

..

1,743

1,715

FW2780910.UP.FTS.B

,

25

.16

%

,

3/14/27

..

3,600

3,542

FW2783634.UP.FTS.B

,

25

.18

%

,

3/14/27

..

3,843

3,781

FW2784381.UP.FTS.B

,

25

.18

%

,

3/14/27

..

566

556

FW2782493.UP.FTS.B

,

25

.19

%

,

3/14/27

..

1,098

1,080

L2785715.UP.FTS.B

,

25

.22

%

,

3/14/27

....

744

733

L2785508.UP.FTS.B

,

25

.24

%

,

3/14/27

....

1,395

1,372

L2785846.UP.FTS.B

,

25

.26

%

,

3/14/27

....

6,727

6,618

L2781289.UP.FTS.B

,

25

.32

%

,

3/14/27

....

5,983

5,886

L2786994.UP.FTS.B

,

25

.32

%

,

3/14/27

....

2,346

2,308

L2786111.UP.FTS.B

,

25

.33

%

,

3/14/27

....

514

506

L2783030.UP.FTS.B

,

25

.34

%

,

3/14/27

....

5,667

5,575

L2785122.UP.FTS.B

,

25

.34

%

,

3/14/27

....

848

834

L2779712.UP.FTS.B

,

25

.35

%

,

3/14/27

....

1,205

1,186

L2783282.UP.FTS.B

,

25

.35

%

,

3/14/27

....

783

770

L2758245.UP.FTS.B

,

25

.36

%

,

3/14/27

....

2,605

2,564

L2786791.UP.FTS.B

,

25

.38

%

,

3/14/27

....

483

475

L2780613.UP.FTS.B

,

25

.39

%

,

3/14/27

....

3,292

3,239

L2780553.UP.FTS.B

,

25

.41

%

,

3/14/27

....

748

736

L2784514.UP.FTS.B

,

25

.41

%

,

3/14/27

....

699

687

L2782792.UP.FTS.B

,

25

.44

%

,

3/14/27

....

2,845

2,799

L2785196.UP.FTS.B

,

25

.44

%

,

3/14/27

....

1,363

1,341

L2789729.UP.FTS.B

,

25

.45

%

,

3/14/27

....

599

589

L2775042.UP.FTS.B

,

25

.46

%

,

3/14/27

....

505

497

L2780947.UP.FTS.B

,

25

.46

%

,

3/14/27

....

1,508

1,483

L2781236.UP.FTS.B

,

25

.46

%

,

3/14/27

....

899

884

FW2785945.UP.FTS.B

,

25

.48

%

,

3/14/27

..

1,259

1,239

L2781099.UP.FTS.B

,

25

.49

%

,

3/14/27

....

999

983

L2783689.UP.FTS.B

,

25

.5

%

,

3/14/27

....

4,803

4,724

L2783570.UP.FTS.B

,

25

.53

%

,

3/14/27

....

1,947

1,916

FW2785182.UP.FTS.B

,

25

.6

%

,

3/14/27

...

17,303

17,025

FW2788301.UP.FTS.B

,

25

.6

%

,

3/14/27

...

2,851

1,921

L2779594.UP.FTS.B

,

25

.6

%

,

3/14/27

....

1,803

1,774

L2783555.UP.FTS.B

,

25

.63

%

,

3/14/27

....

1,481

1,457

L2779605.UP.FTS.B

,

25

.67

%

,

3/14/27

....

851

837

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

114

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2783690.UP.FTS.B

,

25

.69

%

,

3/14/27

..

$

5,287

$

5,202

FW2787434.UP.FTS.B

,

25

.69

%

,

3/14/27

..

2,003

1,970

FW2779444.UP.FTS.B

,

25

.73

%

,

3/14/27

..

2,506

2,466

FW2787230.UP.FTS.B

,

25

.75

%

,

3/14/27

..

3,758

3,698

FW2785698.UP.FTS.B

,

25

.86

%

,

3/14/27

..

6,026

5,929

L2780008.UP.FTS.B

,

25

.87

%

,

3/14/27

....

3,396

850

L2781526.UP.FTS.B

,

25

.87

%

,

3/14/27

....

2,709

2,666

L2780080.UP.FTS.B

,

25

.88

%

,

3/14/27

....

4,765

4,689

L2781244.UP.FTS.B

,

25

.96

%

,

3/14/27

....

3,842

2,581

L2780995.UP.FTS.B

,

25

.98

%

,

3/14/27

....

7,284

4,890

FW2789885.UP.FTS.B

,

26

.1

%

,

3/14/27

...

4,453

4,383

L2789391.UP.FTS.B

,

26

.18

%

,

3/14/27

....

703

691

L2787642.UP.FTS.B

,

26

.29

%

,

3/14/27

....

1,362

1,340

FW2786626.UP.FTS.B

,

26

.35

%

,

3/14/27

..

1,139

1,121

FW2781613.UP.FTS.B

,

26

.4

%

,

3/14/27

...

1,702

1,675

FW2788390.UP.FTS.B

,

26

.61

%

,

3/14/27

..

1,488

1,464

FW2782433.UP.FTS.B

,

26

.73

%

,

3/14/27

..

2,736

2,693

b

FW2784337.UP.FTS.B

,

26

.73

%

,

3/14/27

..

3,675

114

FW2782583.UP.FTS.B

,

26

.76

%

,

3/14/27

..

2,463

2,425

FW2781134.UP.FTS.B

,

26

.83

%

,

3/14/27

..

2,575

2,533

FW2785449.UP.FTS.B

,

27

.1

%

,

3/14/27

...

5,090

5,010

FW2785546.UP.FTS.B

,

27

.15

%

,

3/14/27

..

2,494

2,455

FW2789041.UP.FTS.B

,

27

.27

%

,

3/14/27

..

2,631

2,589

FW2782365.UP.FTS.B

,

27

.34

%

,

3/14/27

..

1,876

1,845

FW2788518.UP.FTS.B

,

27

.34

%

,

3/14/27

..

2,315

2,278

FW2781329.UP.FTS.B

,

27

.46

%

,

3/14/27

..

1,277

1,258

FW2780427.UP.FTS.B

,

27

.49

%

,

3/14/27

..

1,534

1,510

FW2780043.UP.FTS.B

,

27

.53

%

,

3/14/27

..

331

325

b

FW2784987.UP.FTS.B

,

27

.75

%

,

3/14/27

..

9,487

97

FW2782891.UP.FTS.B

,

27

.85

%

,

3/14/27

..

5,170

3,458

FW2784087.UP.FTS.B

,

27

.99

%

,

3/14/27

..

1,572

1,548

b

FW2783828.UP.FTS.B

,

28

%

,

3/14/27

....

4,831

345

FW2786129.UP.FTS.B

,

28

%

,

3/14/27

....

2,515

2,476

b

FW2785385.UP.FTS.B

,

28

.06

%

,

3/14/27

..

4,408

668

FW2789642.UP.FTS.B

,

28

.34

%

,

3/14/27

..

5,643

1,461

FW2781108.UP.FTS.B

,

28

.46

%

,

3/14/27

..

1,870

1,841

FW2781674.UP.FTS.B

,

28

.51

%

,

3/14/27

..

3,361

3,310

FW2780172.UP.FTS.B

,

28

.83

%

,

3/14/27

..

1,038

1,023

FW2779355.UP.FTS.B

,

29

.22

%

,

3/14/27

..

3,066

3,020

b

FW2781786.UP.FTS.B

,

29

.22

%

,

3/14/27

..

1,130

171

FW2784027.UP.FTS.B

,

29

.23

%

,

3/14/27

..

7,921

7,803

FW2781563.UP.FTS.B

,

29

.25

%

,

3/14/27

..

522

514

FW2785470.UP.FTS.B

,

29

.28

%

,

3/14/27

..

4,799

4,727

FW2779974.UP.FTS.B

,

29

.47

%

,

3/14/27

..

2,038

2,007

FW2779230.UP.FTS.B

,

29

.54

%

,

3/14/27

..

5,230

5,152

FW2785701.UP.FTS.B

,

29

.6

%

,

3/14/27

...

1,099

1,083

FW2780605.UP.FTS.B

,

29

.61

%

,

3/14/27

..

524

517

FW2783287.UP.FTS.B

,

29

.91

%

,

3/14/27

..

2,612

2,574

FW2789655.UP.FTS.B

,

29

.98

%

,

3/14/27

..

8,546

5,706

FW2789631.UP.FTS.B

,

30

.08

%

,

3/14/27

..

1,947

1,917

FW2788950.UP.FTS.B

,

30

.14

%

,

3/14/27

..

5,936

5,847

FW2782935.UP.FTS.B

,

30

.31

%

,

3/14/27

..

4,093

4,033

FW2783523.UP.FTS.B

,

30

.41

%

,

3/14/27

..

2,093

2,061

FW2790314.UP.FTS.B

,

30

.48

%

,

3/14/27

..

5,688

5,606

FW2780158.UP.FTS.B

,

30

.52

%

,

3/14/27

..

896

883

FW2780499.UP.FTS.B

,

30

.57

%

,

3/14/27

..

911

898

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2789252.UP.FTS.B

,

30

.65

%

,

3/14/27

..

$

10,587

$

10,433

FW2785351.UP.FTS.B

,

30

.67

%

,

3/14/27

..

847

835

FW2780952.UP.FTS.B

,

30

.68

%

,

3/14/27

..

530

522

FW2787603.UP.FTS.B

,

30

.68

%

,

3/14/27

..

551

543

FW2783504.UP.FTS.B

,

30

.73

%

,

3/14/27

..

1,907

1,281

FW2783660.UP.FTS.B

,

30

.79

%

,

3/14/27

..

1,378

1,358

FW2790078.UP.FTS.B

,

30

.9

%

,

3/14/27

...

1,498

1,476

FW2783182.UP.FTS.B

,

30

.92

%

,

3/14/27

..

637

628

FW2790293.UP.FTS.B

,

30

.94

%

,

3/14/27

..

1,435

1,414

FW2783246.UP.FTS.B

,

30

.95

%

,

3/14/27

..

392

28

FW2783531.UP.FTS.B

,

30

.98

%

,

3/14/27

..

5,175

5,098

FW2784675.UP.FTS.B

,

30

.98

%

,

3/14/27

..

1,124

1,108

b

FW2786195.UP.FTS.B

,

30

.98

%

,

3/14/27

..

746

53

FW2782332.UP.FTS.B

,

30

.99

%

,

3/14/27

..

681

671

FW2787448.UP.FTS.B

,

31

.05

%

,

3/14/27

..

691

681

FW2790081.UP.FTS.B

,

31

.07

%

,

3/14/27

..

691

681

FW2785866.UP.FTS.B

,

31

.08

%

,

3/14/27

..

639

629

FW2787532.UP.FTS.B

,

31

.09

%

,

3/14/27

..

603

594

FW2788870.UP.FTS.B

,

31

.1

%

,

3/14/27

...

3,086

3,042

b

FW2785064.UP.FTS.B

,

31

.11

%

,

3/14/27

..

765

55

FW2781136.UP.FTS.B

,

31

.12

%

,

3/14/27

..

2,024

1,995

FW2789294.UP.FTS.B

,

31

.12

%

,

3/14/27

..

2,412

2,377

FW2787239.UP.FTS.B

,

31

.14

%

,

3/14/27

..

2,450

2,415

FW2787162.UP.FTS.B

,

31

.15

%

,

3/14/27

..

1,811

1,785

FW2780763.UP.FTS.B

,

31

.16

%

,

3/14/27

..

958

944

FW2781077.UP.FTS.B

,

31

.22

%

,

3/14/27

..

586

577

FW2783270.UP.FTS.B

,

31

.23

%

,

3/14/27

..

11,450

7,651

FW2783300.UP.FTS.B

,

31

.25

%

,

3/14/27

..

1,488

382

FW2779996.UP.FTS.B

,

31

.38

%

,

3/14/27

..

1,813

1,786

b

FW2784473.UP.FTS.B

,

31

.45

%

,

3/14/27

..

1,620

–

FW2781466.UP.FTS.B

,

31

.46

%

,

3/14/27

..

963

647

FW2784706.UP.FTS.B

,

31

.51

%

,

3/14/27

..

2,714

1,842

FW2780027.UP.FTS.B

,

31

.52

%

,

3/14/27

..

1,607

1,584

FW2781775.UP.FTS.B

,

31

.79

%

,

3/14/27

..

877

863

FW2785751.UP.FTS.B

,

31

.86

%

,

3/14/27

..

1,072

1,057

FW2780155.UP.FTS.B

,

31

.91

%

,

3/14/27

..

1,342

1,323

L2783467.UP.FTS.B

,

14

.77

%

,

3/15/27

....

4,941

3,162

L2773530.UP.FTS.B

,

21

.6

%

,

3/15/27

....

4,286

4,216

L2781494.UP.FTS.B

,

6

.32

%

,

3/17/27

....

4,555

4,414

b

L2786162.UP.FTS.B

,

15

.01

%

,

3/17/27

....

14,752

2,019

L2780204.UP.FTS.B

,

20

.34

%

,

3/17/27

....

4,687

4,610

FW2788471.UP.FTS.B

,

31

.09

%

,

3/19/27

..

1,162

938

L2783095.UP.FTS.B

,

14

.33

%

,

3/20/27

....

1,170

1,148

L2788995.UP.FTS.B

,

15

.39

%

,

3/20/27

....

1,453

1,439

b

L2784421.UP.FTS.B

,

22

.65

%

,

3/20/27

....

12,383

1,804

L2785417.UP.FTS.B

,

23

.7

%

,

3/20/27

....

1,031

1,014

FW2789463.UP.FTS.B

,

25

.89

%

,

3/20/27

..

4,378

4,310

FW2781187.UP.FTS.B

,

27

.42

%

,

3/20/27

..

1,428

1,407

L2784962.UP.FTS.B

,

9

.82

%

,

3/21/27

....

12,217

11,934

FW2781024.UP.FTS.B

,

15

.1

%

,

3/21/27

...

2,536

2,487

FW2783063.UP.FTS.B

,

21

.08

%

,

3/21/27

..

4,966

3,281

L2785874.UP.FTS.B

,

24

.08

%

,

3/21/27

....

4,398

4,327

FW1893730.UP.FTS.B

,

26

.84

%

,

3/21/27

..

5,085

1,296

L2789596.UP.FTS.B

,

19

.71

%

,

3/22/27

....

2,737

1,798

FW2789132.UP.FTS.B

,

21

%

,

3/23/27

....

4,244

2,810

L2783023.UP.FTS.B

,

22

.68

%

,

3/23/27

....

3,187

3,133

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

115

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

b

FW2785547.UP.FTS.B

,

21

.71

%

,

3/24/27

..

$

4,343

$

609

FW2786929.UP.FTS.B

,

30

.3

%

,

3/24/27

...

5,229

5,155

L2784724.UP.FTS.B

,

14

.06

%

,

3/26/27

....

11,056

10,847

FW2789245.UP.FTS.B

,

16

.05

%

,

3/28/27

..

4,084

4,041

FW2787024.UP.FTS.B

,

19

%

,

3/28/27

....

24,136

23,722

FW2784959.UP.FTS.B

,

22

.93

%

,

3/28/27

..

5,418

5,326

b

FW2787432.UP.FTS.B

,

24

.27

%

,

3/28/27

..

12,120

882

FW2785903.UP.FTS.B

,

25

.2

%

,

3/28/27

...

4,620

4,546

FW2781941.UP.FTS.B

,

30

.87

%

,

3/28/27

..

955

942

b

L2016549.UP.FTS.B

,

14

.78

%

,

4/10/27

....

2,813

375

FW2011916.UP.FTS.B

,

16

.6

%

,

4/10/27

...

1,614

1,577

FW2018016.UP.FTS.B

,

16

.76

%

,

4/10/27

..

9,196

4,388

FW2016567.UP.FTS.B

,

21

.23

%

,

4/10/27

..

3,162

1,546

L2018168.UP.FTS.B

,

21

.66

%

,

4/10/27

....

3,262

234

L2018248.UP.FTS.B

,

24

.88

%

,

4/10/27

....

1,679

1,647

FW2016392.UP.FTS.B

,

31

.01

%

,

4/10/27

..

236

231

FW2016681.UP.FTS.B

,

31

.25

%

,

4/10/27

..

2,978

2,921

L2931144.UP.FTS.B

,

5

.51

%

,

4/11/27

.....

3,592

3,478

FW2932165.UP.FTS.B

,

5

.86

%

,

4/11/27

...

8,142

7,886

L2928632.UP.FTS.B

,

5

.88

%

,

4/11/27

.....

4,252

4,119

L2931374.UP.FTS.B

,

7

.06

%

,

4/11/27

.....

2,865

2,775

L2928415.UP.FTS.B

,

7

.84

%

,

4/11/27

.....

14,449

14,109

L2928839.UP.FTS.B

,

7

.91

%

,

4/11/27

.....

3,291

3,213

FW2930354.UP.FTS.B

,

8

.77

%

,

4/11/27

...

8,638

8,438

L2929501.UP.FTS.B

,

8

.87

%

,

4/11/27

.....

11,225

10,964

L2929733.UP.FTS.B

,

9

.1

%

,

4/11/27

......

15,764

15,397

L2928144.UP.FTS.B

,

9

.39

%

,

4/11/27

.....

8,482

8,283

L2932211.UP.FTS.B

,

9

.68

%

,

4/11/27

.....

4,131

4,064

L2931292.UP.FTS.B

,

9

.71

%

,

4/11/27

.....

716

700

L2930583.UP.FTS.B

,

9

.81

%

,

4/11/27

.....

19,101

18,659

L2929532.UP.FTS.B

,

9

.84

%

,

4/11/27

.....

7,157

6,989

L2928694.UP.FTS.B

,

11

.02

%

,

4/11/27

....

6,950

6,803

FW2931075.UP.FTS.B

,

11

.12

%

,

4/11/27

..

5,669

5,549

FW2928380.UP.FTS.B

,

11

.34

%

,

4/11/27

..

1,648

1,613

L2929334.UP.FTS.B

,

11

.51

%

,

4/11/27

....

10,386

10,167

L2931774.UP.FTS.B

,

11

.89

%

,

4/11/27

....

6,090

5,966

L2930792.UP.FTS.B

,

12

.29

%

,

4/11/27

....

2,196

2,150

L2932192.UP.FTS.B

,

12

.4

%

,

4/11/27

.....

13,198

12,922

L2925660.UP.FTS.B

,

12

.92

%

,

4/11/27

....

665

651

L2930302.UP.FTS.B

,

13

.11

%

,

4/11/27

....

3,287

3,219

L2929053.UP.FTS.B

,

13

.57

%

,

4/11/27

....

6,030

5,915

L2931141.UP.FTS.B

,

14

.22

%

,

4/11/27

....

4,339

4,254

L2931110.UP.FTS.B

,

14

.92

%

,

4/11/27

....

2,064

2,040

L2929671.UP.FTS.B

,

15

.08

%

,

4/11/27

....

14,494

14,239

L2928237.UP.FTS.B

,

15

.14

%

,

4/11/27

....

19,750

19,348

L2930249.UP.FTS.B

,

15

.14

%

,

4/11/27

....

4,927

4,827

L2930377.UP.FTS.B

,

15

.57

%

,

4/11/27

....

8,149

8,058

L2927743.UP.FTS.B

,

15

.66

%

,

4/11/27

....

3,444

3,404

L2928701.UP.FTS.B

,

15

.72

%

,

4/11/27

....

2,105

2,064

L2928682.UP.FTS.B

,

15

.94

%

,

4/11/27

....

5,899

5,831

FW2929957.UP.FTS.B

,

16

.01

%

,

4/11/27

..

6,461

6,331

L2929608.UP.FTS.B

,

16

.07

%

,

4/11/27

....

458

453

L2932260.UP.FTS.B

,

16

.49

%

,

4/11/27

....

623

615

L2930475.UP.FTS.B

,

16

.55

%

,

4/11/27

....

3,066

3,031

L2927859.UP.FTS.B

,

16

.57

%

,

4/11/27

....

1,161

331

FW2928717.UP.FTS.B

,

16

.97

%

,

4/11/27

..

3,503

3,464

L2920414.UP.FTS.B

,

17

.44

%

,

4/11/27

....

12,470

12,335

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

b

FW2930503.UP.FTS.B

,

17

.64

%

,

4/11/27

..

$

2,872

$

209

L2929835.UP.FTS.B

,

17

.66

%

,

4/11/27

....

5,048

4,992

L2931693.UP.FTS.B

,

17

.77

%

,

4/11/27

....

2,077

2,035

L2930203.UP.FTS.B

,

18

.11

%

,

4/11/27

....

18,946

18,578

L2929357.UP.FTS.B

,

18

.14

%

,

4/11/27

....

2,855

2,823

FW2928101.UP.FTS.B

,

18

.34

%

,

4/11/27

..

1,569

1,540

L2929573.UP.FTS.B

,

18

.4

%

,

4/11/27

.....

7,135

7,056

FW2931119.UP.FTS.B

,

18

.48

%

,

4/11/27

..

1,761

1,726

L2926454.UP.FTS.B

,

19

.25

%

,

4/11/27

....

1,359

1,335

L2932213.UP.FTS.B

,

19

.31

%

,

4/11/27

....

3,992

3,919

L2927920.UP.FTS.B

,

19

.53

%

,

4/11/27

....

7,235

7,103

L2930145.UP.FTS.B

,

19

.64

%

,

4/11/27

....

3,926

3,876

L2929135.UP.FTS.B

,

20

.21

%

,

4/11/27

....

2,932

713

L2928908.UP.FTS.B

,

20

.26

%

,

4/11/27

....

487

478

b

L2929578.UP.FTS.B

,

20

.69

%

,

4/11/27

....

12,380

910

L2927893.UP.FTS.B

,

20

.88

%

,

4/11/27

....

3,236

3,175

FW2929918.UP.FTS.B

,

21

.02

%

,

4/11/27

..

289

284

FW2929809.UP.FTS.B

,

21

.08

%

,

4/11/27

..

6,387

6,266

L2930355.UP.FTS.B

,

21

.76

%

,

4/11/27

....

2,477

2,431

b

L2931630.UP.FTS.B

,

22

.14

%

,

4/11/27

....

12,726

913

FW2930816.UP.FTS.B

,

22

.15

%

,

4/11/27

..

4,646

4,564

L2932038.UP.FTS.B

,

22

.19

%

,

4/11/27

....

2,638

1,320

L2929277.UP.FTS.B

,

22

.4

%

,

4/11/27

.....

4,748

4,660

L2929355.UP.FTS.B

,

22

.65

%

,

4/11/27

....

928

911

FW2928961.UP.FTS.B

,

23

.12

%

,

4/11/27

..

2,453

2,408

L2932120.UP.FTS.B

,

23

.29

%

,

4/11/27

....

2,586

2,539

L2931244.UP.FTS.B

,

23

.41

%

,

4/11/27

....

1,100

1,080

L2931393.UP.FTS.B

,

23

.58

%

,

4/11/27

....

3,289

3,230

FW2931916.UP.FTS.B

,

23

.85

%

,

4/11/27

..

3,047

2,992

FW2929160.UP.FTS.B

,

24

.21

%

,

4/11/27

..

547

537

L2928472.UP.FTS.B

,

24

.3

%

,

4/11/27

.....

2,722

2,672

L2930096.UP.FTS.B

,

24

.39

%

,

4/11/27

....

2,034

1,998

L2932289.UP.FTS.B

,

24

.85

%

,

4/11/27

....

1,233

1,211

L2928413.UP.FTS.B

,

25

.03

%

,

4/11/27

....

875

859

L2929882.UP.FTS.B

,

25

.08

%

,

4/11/27

....

372

366

L2930146.UP.FTS.B

,

25

.16

%

,

4/11/27

....

539

530

L2930022.UP.FTS.B

,

25

.21

%

,

4/11/27

....

1,238

1,216

L2928316.UP.FTS.B

,

25

.25

%

,

4/11/27

....

1,736

1,706

b

L2929095.UP.FTS.B

,

25

.31

%

,

4/11/27

....

1,447

112

L2931438.UP.FTS.B

,

25

.31

%

,

4/11/27

....

2,632

2,586

b

L2927955.UP.FTS.B

,

25

.33

%

,

4/11/27

....

303

53

L2930363.UP.FTS.B

,

25

.38

%

,

4/11/27

....

522

513

b

L2929249.UP.FTS.B

,

25

.41

%

,

4/11/27

....

912

135

L2931011.UP.FTS.B

,

25

.45

%

,

4/11/27

....

904

888

L2928194.UP.FTS.B

,

25

.48

%

,

4/11/27

....

1,220

1,197

L2928800.UP.FTS.B

,

25

.5

%

,

4/11/27

.....

1,241

1,220

L2924786.UP.FTS.B

,

25

.51

%

,

4/11/27

....

3,208

3,152

L2929203.UP.FTS.B

,

25

.67

%

,

4/11/27

....

10,305

10,128

FW2931488.UP.FTS.B

,

25

.84

%

,

4/11/27

..

2,068

2,033

L2930197.UP.FTS.B

,

26

.2

%

,

4/11/27

.....

26,070

25,619

FW2928645.UP.FTS.B

,

26

.24

%

,

4/11/27

..

1,461

1,435

FW2932003.UP.FTS.B

,

26

.57

%

,

4/11/27

..

6,083

5,979

FW2930544.UP.FTS.B

,

27

.01

%

,

4/11/27

..

2,630

2,585

FW2930638.UP.FTS.B

,

27

.26

%

,

4/11/27

..

11,029

10,844

FW2929129.UP.FTS.B

,

27

.27

%

,

4/11/27

..

8,547

8,403

FW2929101.UP.FTS.B

,

27

.56

%

,

4/11/27

..

741

728

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

116

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2928485.UP.FTS.B

,

27

.66

%

,

4/11/27

..

$

2,649

$

2,605

FW2928012.UP.FTS.B

,

28

.41

%

,

4/11/27

..

2,972

2,924

FW2929560.UP.FTS.B

,

28

.47

%

,

4/11/27

..

16,732

16,464

FW2929635.UP.FTS.B

,

30

.45

%

,

4/11/27

..

601

592

FW2930995.UP.FTS.B

,

30

.73

%

,

4/11/27

..

1,423

1,401

FW2929924.UP.FTS.B

,

30

.77

%

,

4/11/27

..

676

664

FW2929033.UP.FTS.B

,

30

.91

%

,

4/11/27

..

2,516

2,475

FW2930708.UP.FTS.B

,

30

.94

%

,

4/11/27

..

603

594

FW2931261.UP.FTS.B

,

30

.94

%

,

4/11/27

..

1,920

1,890

FW2931670.UP.FTS.B

,

31

.06

%

,

4/11/27

..

1,421

1,397

FW2931962.UP.FTS.B

,

31

.16

%

,

4/11/27

..

607

597

FW2927833.UP.FTS.B

,

31

.18

%

,

4/11/27

..

825

812

FW2928577.UP.FTS.B

,

31

.19

%

,

4/11/27

..

660

650

FW2930781.UP.FTS.B

,

31

.2

%

,

4/11/27

...

721

710

FW2928856.UP.FTS.B

,

31

.24

%

,

4/11/27

..

1,486

1,463

FW2932028.UP.FTS.B

,

31

.51

%

,

4/11/27

..

6,974

6,870

b

FW2929182.UP.FTS.B

,

32

.25

%

,

4/11/27

..

18,169

2,735

L2934719.UP.FTS.B

,

5

.89

%

,

4/12/27

....

7,090

6,868

L2934939.UP.FTS.B

,

5

.94

%

,

4/12/27

....

5,134

4,986

L2934674.UP.FTS.B

,

5

.99

%

,

4/12/27

....

3,092

2,997

L2932966.UP.FTS.B

,

6

.09

%

,

4/12/27

....

919

892

L2935839.UP.FTS.B

,

6

.13

%

,

4/12/27

....

2,416

2,341

L2933662.UP.FTS.B

,

6

.16

%

,

4/12/27

....

10,071

9,754

L2932593.UP.FTS.B

,

6

.74

%

,

4/12/27

....

2,844

2,756

L2932805.UP.FTS.B

,

7

.25

%

,

4/12/27

....

5,181

5,035

L2932516.UP.FTS.B

,

8

.41

%

,

4/12/27

....

1,412

1,383

L2933064.UP.FTS.B

,

8

.64

%

,

4/12/27

....

17,161

16,770

FW2933047.UP.FTS.B

,

9

.38

%

,

4/12/27

...

2,532

2,473

L2935039.UP.FTS.B

,

9

.98

%

,

4/12/27

....

1,530

1,508

L2935520.UP.FTS.B

,

10

.08

%

,

4/12/27

....

2,131

2,081

FW2934452.UP.FTS.B

,

10

.25

%

,

4/12/27

..

13,662

13,344

L2933292.UP.FTS.B

,

10

.46

%

,

4/12/27

....

6,972

6,838

L2934277.UP.FTS.B

,

10

.75

%

,

4/12/27

....

436

427

L2933170.UP.FTS.B

,

10

.92

%

,

4/12/27

....

10,299

10,062

FW2934988.UP.FTS.B

,

11

.01

%

,

4/12/27

..

6,819

6,675

L2935685.UP.FTS.B

,

11

.21

%

,

4/12/27

....

10,194

9,984

L2934721.UP.FTS.B

,

13

.01

%

,

4/12/27

....

4,436

4,344

L2932728.UP.FTS.B

,

13

.07

%

,

4/12/27

....

2,382

2,334

L2932883.UP.FTS.B

,

13

.4

%

,

4/12/27

....

981

961

L2933032.UP.FTS.B

,

13

.49

%

,

4/12/27

....

8,593

8,420

FW2932832.UP.FTS.B

,

13

.69

%

,

4/12/27

..

9,578

9,382

L2934323.UP.FTS.B

,

14

.05

%

,

4/12/27

....

1,675

1,642

FW2935078.UP.FTS.B

,

14

.1

%

,

4/12/27

...

1,482

1,452

L2934014.UP.FTS.B

,

14

.43

%

,

4/12/27

....

7,323

7,174

L2933672.UP.FTS.B

,

14

.48

%

,

4/12/27

....

765

750

FW2921409.UP.FTS.B

,

14

.51

%

,

4/12/27

..

1,362

1,335

L2933917.UP.FTS.B

,

14

.92

%

,

4/12/27

....

3,185

3,120

b

L2933149.UP.FTS.B

,

14

.95

%

,

4/12/27

....

3,228

301

L2934068.UP.FTS.B

,

15

.16

%

,

4/12/27

....

2,444

2,395

FW2935322.UP.FTS.B

,

15

.48

%

,

4/12/27

..

817

801

L2934951.UP.FTS.B

,

15

.65

%

,

4/12/27

....

642

630

FW2936086.UP.FTS.B

,

15

.83

%

,

4/12/27

..

2,498

2,470

L2933684.UP.FTS.B

,

15

.83

%

,

4/12/27

....

4,985

4,887

L2934824.UP.FTS.B

,

16

.29

%

,

4/12/27

....

3,139

3,105

FW2934062.UP.FTS.B

,

16

.46

%

,

4/12/27

..

4,903

4,849

L2934330.UP.FTS.B

,

17

.26

%

,

4/12/27

....

5,017

4,918

FW2928773.UP.FTS.B

,

17

.37

%

,

4/12/27

..

2,984

2,953

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2929039.UP.FTS.B

,

17

.51

%

,

4/12/27

....

$

2,001

$

1,980

FW2921340.UP.FTS.B

,

18

.08

%

,

4/12/27

..

2,714

2,680

FW2933519.UP.FTS.B

,

18

.13

%

,

4/12/27

..

4,599

4,549

L2933956.UP.FTS.B

,

18

.85

%

,

4/12/27

....

3,827

3,786

L2932813.UP.FTS.B

,

19

.07

%

,

4/12/27

....

6,235

6,123

FW2932660.UP.FTS.B

,

19

.24

%

,

4/12/27

..

10,970

10,852

FW2935930.UP.FTS.B

,

19

.97

%

,

4/12/27

..

4,172

4,128

L2934093.UP.FTS.B

,

20

.12

%

,

4/12/27

....

1,609

1,580

b

L2932535.UP.FTS.B

,

20

.15

%

,

4/12/27

....

4,578

333

L2933315.UP.FTS.B

,

21

.57

%

,

4/12/27

....

2,916

2,886

L2934722.UP.FTS.B

,

21

.63

%

,

4/12/27

....

1,986

1,949

FW2932542.UP.FTS.B

,

22

.3

%

,

4/12/27

...

8,477

8,324

L2935129.UP.FTS.B

,

22

.75

%

,

4/12/27

....

4,013

3,943

L2932952.UP.FTS.B

,

23

.13

%

,

4/12/27

....

2,727

2,679

L2933829.UP.FTS.B

,

23

.3

%

,

4/12/27

....

15,939

15,657

L2934363.UP.FTS.B

,

23

.59

%

,

4/12/27

....

4,131

2,060

L2933915.UP.FTS.B

,

23

.94

%

,

4/12/27

....

4,068

3,998

FW2933926.UP.FTS.B

,

24

.54

%

,

4/12/27

..

15,353

15,087

L2932713.UP.FTS.B

,

24

.66

%

,

4/12/27

....

8,154

8,015

FW2934105.UP.FTS.B

,

25

.03

%

,

4/12/27

..

25,722

25,281

L2934475.UP.FTS.B

,

25

.05

%

,

4/12/27

....

515

506

L2934307.UP.FTS.B

,

25

.18

%

,

4/12/27

....

825

811

L2934790.UP.FTS.B

,

25

.21

%

,

4/12/27

....

1,807

1,776

L2933613.UP.FTS.B

,

25

.31

%

,

4/12/27

....

1,321

1,299

L2934270.UP.FTS.B

,

25

.32

%

,

4/12/27

....

723

711

L2933656.UP.FTS.B

,

25

.33

%

,

4/12/27

....

1,140

1,120

L2935106.UP.FTS.B

,

25

.47

%

,

4/12/27

....

880

865

L2931662.UP.FTS.B

,

25

.5

%

,

4/12/27

....

3,401

3,344

L2935140.UP.FTS.B

,

25

.88

%

,

4/12/27

....

1,665

1,637

FW2932828.UP.FTS.B

,

26

.03

%

,

4/12/27

..

1,904

986

b

L2932763.UP.FTS.B

,

26

.08

%

,

4/12/27

....

3,021

447

FW2932450.UP.FTS.B

,

26

.13

%

,

4/12/27

..

1,720

1,691

L2933446.UP.FTS.B

,

26

.13

%

,

4/12/27

....

4,429

4,354

FW2934761.UP.FTS.B

,

26

.44

%

,

4/12/27

..

3,398

3,341

FW2933474.UP.FTS.B

,

27

.39

%

,

4/12/27

..

1,823

1,793

b

FW2932900.UP.FTS.B

,

30

.82

%

,

4/12/27

..

2,280

163

FW2932657.UP.FTS.B

,

30

.91

%

,

4/12/27

..

713

702

FW2933070.UP.FTS.B

,

30

.98

%

,

4/12/27

..

631

621

FW2933622.UP.FTS.B

,

31

.07

%

,

4/12/27

..

2,181

2,148

FW2932838.UP.FTS.B

,

31

.12

%

,

4/12/27

..

714

703

FW2934816.UP.FTS.B

,

31

.17

%

,

4/12/27

..

4,694

4,622

FW2932550.UP.FTS.B

,

31

.41

%

,

4/12/27

..

4,852

4,779

FW2934482.UP.FTS.B

,

31

.52

%

,

4/12/27

..

4,326

4,260

L2926179.UP.FTS.B

,

14

%

,

4/14/27

......

14,529

14,238

L2932935.UP.FTS.B

,

7

.41

%

,

4/15/27

....

8,208

7,951

FW2928215.UP.FTS.B

,

17

.86

%

,

4/15/27

..

2,601

2,574

FW2782751.UP.FTS.B

,

18

.72

%

,

4/15/27

..

5,110

3,342

L2933178.UP.FTS.B

,

12

.88

%

,

4/16/27

....

3,059

2,996

FW2921283.UP.FTS.B

,

27

.6

%

,

4/16/27

...

1,702

1,133

L2929271.UP.FTS.B

,

8

.07

%

,

4/19/27

....

14,933

14,469

FW2111536.UP.FTS.B

,

24

.67

%

,

4/24/27

..

5,228

5,136

L2112103.UP.FTS.B

,

24

.86

%

,

4/24/27

....

2,871

2,820

FW2110882.UP.FTS.B

,

25

.83

%

,

4/24/27

..

4,099

4,038

b

FW2112451.UP.FTS.B

,

30

.73

%

,

4/24/27

..

1,090

174

L2931611.UP.FTS.B

,

20

.6

%

,

5/01/27

.....

8,378

8,291

L2262094.UP.FTS.B

,

15

.17

%

,

5/16/27

....

2,500

2,442

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

117

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2266091.UP.FTS.B

,

16

.62

%

,

5/16/27

....

$

4,865

$

3,100

L2264467.UP.FTS.B

,

18

.83

%

,

5/16/27

....

14,317

9,201

b

L2264897.UP.FTS.B

,

22

.07

%

,

5/16/27

....

7,185

620

FW2262937.UP.FTS.B

,

29

.28

%

,

5/16/27

..

2,870

2,825

FW2266925.UP.FTS.B

,

31

.22

%

,

5/16/27

..

12,292

3,061

L2268700.UP.FTS.B

,

9

.56

%

,

5/17/27

....

1,789

1,740

L2267939.UP.FTS.B

,

17

.47

%

,

5/17/27

....

1,286

1,268

L2267967.UP.FTS.B

,

19

.43

%

,

5/17/27

....

9,156

8,995

L2269383.UP.FTS.B

,

23

.1

%

,

5/17/27

....

1,950

1,915

L2267445.UP.FTS.B

,

24

.36

%

,

5/17/27

....

6,181

6,063

L2269335.UP.FTS.B

,

24

.65

%

,

5/17/27

....

1,306

1,283

FW2269543.UP.FTS.B

,

24

.98

%

,

5/17/27

..

6,061

5,949

L2269566.UP.FTS.B

,

25

.42

%

,

5/17/27

....

2,293

2,254

b

L2270069.UP.FTS.B

,

9

.27

%

,

6/01/27

....

4,175

302

FW2783542.UP.FTS.B

,

14

.99

%

,

6/14/27

..

7,905

567

L2473231.UP.FTS.B

,

11

.36

%

,

6/20/27

....

2,846

2,775

L2474789.UP.FTS.B

,

13

.64

%

,

6/20/27

....

11,185

10,922

L2472806.UP.FTS.B

,

24

.05

%

,

6/20/27

....

7,356

4,809

b

L2474417.UP.FTS.B

,

25

.31

%

,

6/20/27

....

2,279

164

L2471756.UP.FTS.B

,

26

.47

%

,

6/20/27

....

637

419

FW2478138.UP.FTS.B

,

20

.35

%

,

6/21/27

..

10,328

10,135

L2441362.UP.FTS.B

,

20

.97

%

,

6/21/27

....

2,622

2,573

FW2476973.UP.FTS.B

,

28

.09

%

,

6/21/27

..

1,320

1,303

FW2476585.UP.FTS.B

,

28

.45

%

,

6/21/27

..

3,088

3,042

b

FW2479731.UP.FTS.B

,

10

.13

%

,

7/06/27

..

9,749

701

FW2656762.UP.FTS.B

,

16

.73

%

,

7/18/27

..

11,603

11,454

b

L2657584.UP.FTS.B

,

25

.37

%

,

7/18/27

....

5,016

753

FW2653443.UP.FTS.B

,

31

.19

%

,

7/18/27

..

9,272

9,126

L2656455.UP.FTS.B

,

11

.03

%

,

7/27/27

....

9,785

9,542

L2781769.UP.FTS.B

,

7

.86

%

,

8/14/27

....

9,166

8,947

L2779827.UP.FTS.B

,

9

.72

%

,

8/14/27

....

6,000

5,860

FW2780382.UP.FTS.B

,

10

.8

%

,

8/14/27

...

2,465

2,408

L2784551.UP.FTS.B

,

11

.17

%

,

8/14/27

....

30,503

18,274

FW2790608.UP.FTS.B

,

11

.2

%

,

8/14/27

...

3,757

831

L2785893.UP.FTS.B

,

13

.78

%

,

8/14/27

....

1,076

1,051

b

FW2785433.UP.FTS.B

,

14

.35

%

,

8/14/27

..

4,169

302

L2784886.UP.FTS.B

,

14

.47

%

,

8/14/27

....

5,274

5,156

L2785260.UP.FTS.B

,

14

.63

%

,

8/14/27

....

12,689

12,406

FW2785300.UP.FTS.B

,

14

.74

%

,

8/14/27

..

24,972

24,421

b

L2787335.UP.FTS.B

,

15

.22

%

,

8/14/27

....

1,756

76

L2785752.UP.FTS.B

,

15

.55

%

,

8/14/27

....

6,677

6,598

L2787854.UP.FTS.B

,

15

.85

%

,

8/14/27

....

1,700

1,680

L2784177.UP.FTS.B

,

16

.34

%

,

8/14/27

....

3,317

3,277

L2782699.UP.FTS.B

,

16

.54

%

,

8/14/27

....

14,954

9,007

L2785121.UP.FTS.B

,

16

.67

%

,

8/14/27

....

14,702

9,122

b

FW2783637.UP.FTS.B

,

16

.93

%

,

8/14/27

..

5,781

807

L2780752.UP.FTS.B

,

17

.46

%

,

8/14/27

....

21,842

13,509

b

L2784632.UP.FTS.B

,

17

.63

%

,

8/14/27

....

4,655

331

L2784502.UP.FTS.B

,

17

.69

%

,

8/14/27

....

10,949

791

FW2780686.UP.FTS.B

,

18

.04

%

,

8/14/27

..

596

584

L2781142.UP.FTS.B

,

18

.71

%

,

8/14/27

....

3,994

2,479

b

L2784145.UP.FTS.B

,

19

.03

%

,

8/14/27

....

3,769

275

L2780510.UP.FTS.B

,

19

.3

%

,

8/14/27

....

15,163

15,024

L2780702.UP.FTS.B

,

19

.32

%

,

8/14/27

....

11,101

10,907

FW2782056.UP.FTS.B

,

19

.7

%

,

8/14/27

...

4,385

4,336

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2782244.UP.FTS.B

,

19

.84

%

,

8/14/27

....

$

2,921

$

2,890

L2782188.UP.FTS.B

,

20

.46

%

,

8/14/27

....

8,031

7,885

FW2788480.UP.FTS.B

,

20

.56

%

,

8/14/27

..

3,401

3,341

FW2786123.UP.FTS.B

,

20

.87

%

,

8/14/27

..

1,711

1,682

L2782941.UP.FTS.B

,

21

.84

%

,

8/14/27

....

1,619

1,591

b

FW2785231.UP.FTS.B

,

21

.88

%

,

8/14/27

..

7,572

651

L2780882.UP.FTS.B

,

22

.29

%

,

8/14/27

....

4,925

4,836

L2785540.UP.FTS.B

,

22

.99

%

,

8/14/27

....

2,870

1,830

b

L2761176.UP.FTS.B

,

23

.49

%

,

8/14/27

....

4,042

560

FW2789810.UP.FTS.B

,

24

.24

%

,

8/14/27

..

1,212

790

FW2780321.UP.FTS.B

,

24

.37

%

,

8/14/27

..

3,650

3,598

L2781314.UP.FTS.B

,

24

.73

%

,

8/14/27

....

7,147

7,062

FW2780263.UP.FTS.B

,

25

%

,

8/14/27

....

2,623

2,585

L2782686.UP.FTS.B

,

25

%

,

8/14/27

......

11,098

10,963

FW2780348.UP.FTS.B

,

25

.03

%

,

8/14/27

..

3,503

2,221

L2788622.UP.FTS.B

,

25

.12

%

,

8/14/27

....

4,968

4,890

L2780085.UP.FTS.B

,

25

.23

%

,

8/14/27

....

946

931

L2781090.UP.FTS.B

,

25

.39

%

,

8/14/27

....

1,174

276

b

FW2786974.UP.FTS.B

,

25

.42

%

,

8/14/27

..

2,189

159

b

L2784786.UP.FTS.B

,

25

.48

%

,

8/14/27

....

19,198

2,780

L2771933.UP.FTS.B

,

25

.49

%

,

8/14/27

....

1,081

1,064

L2782131.UP.FTS.B

,

25

.51

%

,

8/14/27

....

10,446

10,298

L2782017.UP.FTS.B

,

25

.54

%

,

8/14/27

....

1,216

1,195

FW2783121.UP.FTS.B

,

26

.17

%

,

8/14/27

..

3,242

3,202

FW2784070.UP.FTS.B

,

26

.88

%

,

8/14/27

..

11,453

11,321

b

FW2780366.UP.FTS.B

,

27

.22

%

,

8/14/27

..

2,593

186

FW2788769.UP.FTS.B

,

27

.54

%

,

8/14/27

..

13,955

3,303

FW2781808.UP.FTS.B

,

28

.36

%

,

8/14/27

..

6,346

6,253

FW2781950.UP.FTS.B

,

28

.45

%

,

8/14/27

..

4,407

4,350

FW2787016.UP.FTS.B

,

28

.75

%

,

8/14/27

..

11,601

7,504

FW2773545.UP.FTS.B

,

29

.8

%

,

8/14/27

...

1,107

1,091

b

FW2784677.UP.FTS.B

,

29

.98

%

,

8/14/27

..

893

64

FW2786761.UP.FTS.B

,

30

.87

%

,

8/14/27

..

1,470

1,452

FW2788878.UP.FTS.B

,

30

.91

%

,

8/14/27

..

1,861

1,837

FW2787940.UP.FTS.B

,

31

.09

%

,

8/14/27

..

5,902

3,799

FW2784788.UP.FTS.B

,

31

.17

%

,

8/14/27

..

5,207

3,231

FW2788570.UP.FTS.B

,

30

.2

%

,

8/15/27

...

4,969

4,900

FW2788584.UP.FTS.B

,

22

.8

%

,

8/16/27

...

7,417

7,300

L2785554.UP.FTS.B

,

23

.22

%

,

8/16/27

....

8,590

8,456

L2788641.UP.FTS.B

,

8

.88

%

,

8/18/27

....

5,098

4,976

FW2779874.UP.FTS.B

,

16

.55

%

,

8/19/27

..

5,451

3,384

b

L2789222.UP.FTS.B

,

25

.36

%

,

8/20/27

....

1,129

164

FW2788124.UP.FTS.B

,

28

.64

%

,

8/20/27

..

6,699

6,628

FW2782011.UP.FTS.B

,

23

.47

%

,

8/22/27

..

3,446

2,205

L2780799.UP.FTS.B

,

25

.48

%

,

8/24/27

....

13,455

13,247

L2743727.UP.FTS.B

,

16

.97

%

,

8/25/27

....

1,821

132

FW2789146.UP.FTS.B

,

27

.73

%

,

8/25/27

..

3,151

3,123

b

L2782423.UP.FTS.B

,

18

.4

%

,

8/28/27

....

9,622

693

b

L2786225.UP.FTS.B

,

19

.38

%

,

8/28/27

....

10,393

392

L2785536.UP.FTS.B

,

27

.43

%

,

8/28/27

....

11,745

11,646

FW2786209.UP.FTS.B

,

30

.73

%

,

8/28/27

..

928

224

FW2786834.UP.FTS.B

,

31

.16

%

,

8/28/27

..

3,277

235

b

FW2931457.UP.FTS.B

,

11

.32

%

,

9/11/27

..

5,210

660

L2929885.UP.FTS.B

,

11

.42

%

,

9/11/27

....

21,680

21,184

L2927750.UP.FTS.B

,

13

.53

%

,

9/11/27

....

4,032

3,942

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

118

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2931559.UP.FTS.B

,

14

.36

%

,

9/11/27

....

$

25,274

$

24,726

L2931231.UP.FTS.B

,

16

.75

%

,

9/11/27

....

13,351

5,571

L2928071.UP.FTS.B

,

17

.22

%

,

9/11/27

....

558

248

L2930149.UP.FTS.B

,

17

.22

%

,

9/11/27

....

6,046

2,526

L2929660.UP.FTS.B

,

19

.43

%

,

9/11/27

....

1,376

746

L2929537.UP.FTS.B

,

22

.4

%

,

9/11/27

.....

14,367

14,129

b

L2931522.UP.FTS.B

,

25

.34

%

,

9/11/27

....

9,874

–

L2929019.UP.FTS.B

,

25

.49

%

,

9/11/27

....

2,153

2,121

FW2928696.UP.FTS.B

,

27

.59

%

,

9/11/27

..

2,886

1,338

b

FW2929228.UP.FTS.B

,

27

.79

%

,

9/11/27

..

7,761

1,103

b

FW2929186.UP.FTS.B

,

28

.7

%

,

9/11/27

...

2,972

425

FW2927928.UP.FTS.B

,

29

.77

%

,

9/11/27

..

778

769

FW2930626.UP.FTS.B

,

30

.39

%

,

9/11/27

..

271

266

FW2929535.UP.FTS.B

,

30

.91

%

,

9/11/27

..

22,687

22,408

L2932384.UP.FTS.B

,

13

.22

%

,

9/12/27

....

1,822

1,781

L2932973.UP.FTS.B

,

16

.22

%

,

9/12/27

....

1,846

1,805

L2934264.UP.FTS.B

,

17

.04

%

,

9/12/27

....

3,643

3,600

FW2933357.UP.FTS.B

,

24

.77

%

,

9/12/27

..

1,950

1,920

L2935062.UP.FTS.B

,

25

.37

%

,

9/12/27

....

2,360

549

FW2932656.UP.FTS.B

,

27

.65

%

,

9/12/27

..

1,804

1,782

FW2928392.UP.FTS.B

,

12

.26

%

,

9/14/27

..

30,358

18,250

L2935437.UP.FTS.B

,

23

.88

%

,

9/14/27

....

5,796

5,701

L2909526.UP.FTS.B

,

16

.64

%

,

9/15/27

....

3,779

3,695

L2928512.UP.FTS.B

,

24

.85

%

,

9/16/27

....

6,459

6,354

FW2932783.UP.FTS.B

,

31

.23

%

,

9/18/27

..

9,347

9,274

L2932135.UP.FTS.B

,

10

.91

%

,

9/22/27

....

11,484

11,213

L2109723.UP.FTS.B

,

14

.71

%

,

9/24/27

....

20,781

20,304

FW2111832.UP.FTS.B

,

31

.16

%

,

9/24/27

..

4,874

4,800

L2927958.UP.FTS.B

,

15

.19

%

,

9/26/27

....

9,000

8,794

L2930990.UP.FTS.B

,

23

.44

%

,

9/26/27

....

6,140

6,031

L2931286.UP.FTS.B

,

24

.62

%

,

9/26/27

....

13,299

13,092

FW2266529.UP.FTS.B

,

27

.38

%

,

10/16/27

.

3,741

3,674

FW2268177.UP.FTS.B

,

20

.82

%

,

10/17/27

.

1,901

1,864

FW2269400.UP.FTS.B

,

29

.19

%

,

10/17/27

.

3,765

889

FW2269705.UP.FTS.B

,

29

.7

%

,

10/17/27

..

3,011

2,962

FW2270320.UP.FTS.B

,

31

.1

%

,

10/17/27

..

1,103

1,087

FW2471006.UP.FTS.B

,

31

.15

%

,

11/20/27

.

994

980

FW2476186.UP.FTS.B

,

6

.33

%

,

11/21/27

..

10,823

10,423

b

L2476700.UP.FTS.B

,

8

.05

%

,

11/21/27

....

1,431

241

FW2657294.UP.FTS.B

,

16

.22

%

,

12/18/27

.

10,350

6,581

FW2656738.UP.FTS.B

,

26

.73

%

,

12/18/27

.

6,472

4,197

FW2657050.UP.FTS.B

,

31

.21

%

,

12/18/27

.

2,474

2,440

L2782861.UP.FTS.B

,

13

%

,

1/14/28

......

1,395

1,364

L2784927.UP.FTS.B

,

20

.04

%

,

1/14/28

....

1,694

1,667

FW2787933.UP.FTS.B

,

20

.81

%

,

1/14/28

..

485

478

L2790163.UP.FTS.B

,

21

.62

%

,

1/14/28

....

1,123

1,105

L2781510.UP.FTS.B

,

21

.9

%

,

1/14/28

....

2,824

1,796

FW2780403.UP.FTS.B

,

28

.18

%

,

1/14/28

..

3,079

3,039

FW2789113.UP.FTS.B

,

34

.45

%

,

1/14/28

..

10,034

6,250

FW2779683.UP.FTS.B

,

24

.26

%

,

1/16/28

..

25,313

25,031

L2786161.UP.FTS.B

,

25

.2

%

,

1/20/28

....

3,060

3,013

L2771055.UP.FTS.B

,

19

.91

%

,

1/21/28

....

4,196

4,124

L2785139.UP.FTS.B

,

21

.47

%

,

1/21/28

....

5,948

3,646

L2931697.UP.FTS.B

,

18

.04

%

,

2/11/28

....

11,008

10,806

FW2931871.UP.FTS.B

,

28

.6

%

,

2/11/28

...

12,392

5,300

L2016976.UP.FTS.B

,

17

.93

%

,

11/10/28

...

2,238

2,192

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2471413.UP.FTS.B

,

14

.77

%

,

1/20/29

....

$

15,915

$

15,746

L2474231.UP.FTS.B

,

18

.07

%

,

1/20/29

....

6,128

6,001

L2475358.UP.FTS.B

,

19

.49

%

,

1/20/29

....

4,039

3,958

L2470272.UP.FTS.B

,

21

.01

%

,

1/20/29

....

4,122

4,039

b

L2480052.UP.FTS.B

,

11

.51

%

,

1/21/29

....

1,445

104

L2476569.UP.FTS.B

,

12

.1

%

,

1/21/29

....

6,434

6,372

L2478078.UP.FTS.B

,

21

.42

%

,

1/21/29

....

3,826

3,759

L2479722.UP.FTS.B

,

22

.71

%

,

1/21/29

....

3,920

3,846

L2478021.UP.FTS.B

,

24

.55

%

,

1/21/29

....

7,100

6,788

L2481996.UP.FTS.B

,

25

.8

%

,

1/21/29

....

1,078

1,061

L2476521.UP.FTS.B

,

26

.04

%

,

1/21/29

....

537

517

L2783362.UP.FTS.B

,

25

.93

%

,

3/14/29

....

995

979

L2893504.UP.FTS.B

,

25

.96

%

,

4/11/29

....

189

185

L2927882.UP.FTS.B

,

26

.42

%

,

4/11/29

....

3,396

3,340

L2472122.UP.FTS.B

,

18

.59

%

,

6/20/29

....

3,280

1,739

L2477875.UP.FTS.B

,

11

.39

%

,

6/21/29

....

6,376

6,213

L2781565.UP.FTS.B

,

27

%

,

8/14/29

......

2,503

2,519

L2928953.UP.FTS.B

,

25

.86

%

,

9/11/29

....

2,415

2,310

b

L2928275.UP.FTS.B

,

26

.91

%

,

9/11/29

....

3,040

375

b

L2655839.UP.FTS.B

,

20

.67

%

,

2/18/35

....

15

1

b

L2780571.UP.FTS.B

,

23

.44

%

,

3/14/35

....

395

29

b

L2928046.UP.FTS.B

,

27

.24

%

,

4/11/35

....

622

191

b

L2931304.UP.FTS.B

,

18

.2

%

,

4/12/35

....

617

44

5,050,445

Total

Marketplace

Loans

(Cost

$

55,288,391

)

......................

$49,559,728

a

The

rate

shown

represents

the

yield

at

period

end.

b

Defaulted

security

or

security

for

which

income

has

been

deemed

uncollectible.

See

Note

8

.

Franklin

Limited

Duration

Income

Trust

Financial

Statements

Statement

of

Assets

and

Liabilities

June

30,

2025

(unaudited)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

119

Franklin

Limited

Duration

Income

Trust

Assets:

Investments

in

securities:

Cost

-

Unaffiliated

issuers

...................................................................

$399,648,703

Cost

-

Non-controlled

affiliates

(Note

5

c

)

........................................................

12,390,728

Value

-

Unaffiliated

issuers

..................................................................

$384,781,623

Value

-

Non-controlled

affiliates

(Note

5

c

)

.......................................................

12,390,728

Cash

....................................................................................

5,251,154

Receivables:

Investment

securities

sold

...................................................................

4,588,448

Dividends

and

interest

.....................................................................

4,126,711

Deposits

with

brokers

for:

Reverse

repurchase

agreements

(Note

4

)

.....................................................

110,000

Unrealized

appreciation

on

unfunded

loan

commitments

(Note

9

)

.......................................

676

Total

assets

..........................................................................

411,249,340

Liabilities:

Payables:

Investment

securities

purchased

..............................................................

6,784,409

Payable

for

purchases

of

TBA

securities

(Note

1

c

)

.................................................

24,216,943

Credit

facility

(Note

3

)

......................................................................

97,500,000

Management

fees

.........................................................................

226,922

Transfer

agent

fees

........................................................................

19,538

Trustees'

fees

and

expenses

.................................................................

321

Accrued

interest

(Note

3

)

...................................................................

402,919

Reverse

repurchase

agreements

(Note

4

)

.......................................................

6,389,908

Unrealized

depreciation

on

unfunded

loan

commitments

(Note

9

)

.......................................

1,653

Accrued

expenses

and

other

liabilities

...........................................................

363,440

Total

liabilities

.........................................................................

135,906,053

Net

assets,

at

value

.................................................................

$275,343,287

Net

assets

consist

of:

Paid-in

capital

.............................................................................

$351,528,196

Total

distributable

earnings

(losses)

.............................................................

(76,184,909)

Net

assets,

at

value

.................................................................

$275,343,287

Shares

outstanding

.........................................................................

40,405,374

Net

asset

value

per

share

a

....................................................................

$6.81

a

Net

asset

value

per

share

may

not

recalculate

due

to

rounding.

Franklin

Limited

Duration

Income

Trust

Financial

Statements

Statement

of

Operations

for

the

six

months

ended

June

30,

2025

(unaudited)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

120

Franklin

Limited

Duration

Income

Trust

Investment

income:

Dividends:

Unaffiliated

issuers

........................................................................

$21,057

Non-controlled

affiliates

(Note

5

c

)

.............................................................

239,817

Interest:

Unaffiliated

issuers

........................................................................

16,079,678

Total

investment

income

...................................................................

16,340,552

Expenses:

Management

fees

(Note

5

a

)

...................................................................

1,406,660

Transfer

agent

fees

.........................................................................

19,932

Custodian

fees

............................................................................

1,036

Reports

to

shareholders

fees

..................................................................

60,651

Registration

and

filing

fees

....................................................................

11,158

Professional

fees

...........................................................................

93,366

Trustees'

fees

and

expenses

..................................................................

1,678

Marketplace

lending

fees

(Note

1

f

)

..............................................................

643,352

Interest

expense

(Note

3

&

4

)

..................................................................

2,728,672

Other

....................................................................................

79,959

Total

expenses

.........................................................................

5,046,464

Expenses

waived/paid

by

affiliates

(Note

5

c

)

...................................................

(20,294)

Net

expenses

.........................................................................

5,026,170

Net

investment

income

................................................................

11,314,382

Realized

and

unrealized

gains

(losses):

Net

realized

gain

(loss)

from:

Investments:

Unaffiliated

issuers

......................................................................

(2,979,110)

Securities

sold

short

.......................................................................

214

TBA

sale

commitments

.....................................................................

(16,280)

Net

realized

gain

(loss)

..................................................................

(2,995,176)

Net

change

in

unrealized

appreciation

(depreciation)

on:

Investments:

Unaffiliated

issuers

......................................................................

1,535,096

Unfunded

loan

commitments

(Note

9

)

..........................................................

(1,941)

Net

change

in

unrealized

appreciation

(depreciation)

............................................

1,533,155

Net

realized

and

unrealized

gain

(loss)

............................................................

(1,462,021)

Net

increase

(decrease)

in

net

assets

resulting

from

operations

..........................................

$9,852,361

Franklin

Limited

Duration

Income

Trust

Financial

Statements

Statements

of

Changes

in

Net

Assets

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

REport

121

Franklin

Limited

Duration

Income

Trust

Six

Months

Ended

June

30,

2025

(unaudited)

Year

Ended

December

31,

2024

Increase

(decrease)

in

net

assets:

Operations:

Net

investment

income

.................................................

$11,314,382

$25,768,914

Net

realized

gain

(loss)

.................................................

(2,995,176)

(8,030,434)

Net

change

in

unrealized

appreciation

(depreciation)

...........................

1,533,155

2,282,826

Net

increase

(decrease)

in

net

assets

resulting

from

operations

................

9,852,361

20,021,306

Distributions

to

shareholders

..............................................

(14,909,583)

(20,501,755)

Distributions

to

shareholders

from

tax

return

of

capital

...........................

—

(9,317,411)

Total

distributions

to

shareholders

..........................................

(14,909,583)

(29,819,166)

Net

increase

(decrease)

in

net

assets

...................................

(5,057,222)

(9,797,860)

Net

assets:

Beginning

of

period

.....................................................

280,400,509

290,198,369

End

of

period

..........................................................

$275,343,287

$280,400,509

Franklin

Limited

Duration

Income

Trust

Financial

Statements

Statement

of

Cash

Flows

for

the

six

months

ended

June

30,

2025

(unaudited)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

122

Franklin

Limited

Duration

Income

Trust

Cash

flow

from

operating

activities:

Dividends,

interest

and

other

income

received

.....................................................

$

15,988,11

9

Operating

expenses

paid

.....................................................................

(2,429,09

6

)

Interest

expense

paid

........................................................................

(2,747,630)

Deposits

from

brokers

.......................................................................

44

0,000

Purchases

of

long-term

investments

.............................................................

(199,197,582)

Sales

and

maturities

of

long-term

investments

.....................................................

208,046,823

Net

purchases

of

short-term

investments

.........................................................

(618,551)

Cash

provided

-

operating

activities

..........................................................

19,482,083

Cash

flow

from

financing

activities:

Net

change

in

reverse

repurchase

agreements

.....................................................

(4,104,425)

Cash

distributions

to

shareholders

..............................................................

(14,909,583)

Cash

used

-

financing

activities

.............................................................

(19,014,008)

Net

increase

(decrease)

in

cash

.................................................................

468,075

Cash

at

beginning

of

period

.....................................................................

4,783,079

Cash

at

end

of

period

.........................................................................

$5,251,154

Reconciliation

of

Net

Increase

(Decrease)

in

Net

Assets

resulting

from

Operating

Activities

to

Net

Cash

Provided

by

Operating

Activities

for

the

period

ended

June

30,

2025

Net

increase

(decrease)

in

net

assets

resulting

from

operating

activities

....................................

$

9,852,361

Adjustments

to

reconcile

net

increase

(decrease)

in

net

assets

resulting

from

operating

activities

to

net

cash

provided

by

operating

activities:

Net

amortization

income

..................................................................

(267,270)

Reinvested

dividends

from

non-controlled

affiliates

...............................................

(239,817)

Interest

received

in

the

form

of

securities

......................................................

(59,417)

Decrease

in

dividends

and

interest

receivable

and

other

assets

.....................................

273,488

Decrease

in

interest

payable

...............................................................

(18,958)

De

crease

in

deposits

from

brokers

...........................................................

440,000

Decrease

in

payable

to

affiliates,

accrued

expenses,

and

other

liabilities

...............................

(131,598)

Increase

in

payable

for

investments

purchased

.................................................

4,873,848

Increase

in

receivable

for

investments

sold

.....................................................

(3,545,905)

De

crease

in

cost

of

investments

.............................................................

9,840,447

Increase

in

unrealized

appreciation

on

investments.

..............................................

(1,535,096)

Net

cash

provided

by

operating

activities

...........................................................

$19,482,083

Franklin

Limited

Duration

Income

Trust

123

franklintempleton.com

Semiannual

Report

Notes

to

Financial

Statements

(unaudited)

1.

Organization

and

Significant

Accounting

Policies

Franklin

Limited

Duration

Income

Trust (Fund)

is

registered under

the

Investment

Company

Act

of

1940

(1940

Act)

as

a

closed-end

management

investment

company.

The

Fund

follows

the

accounting

and

reporting

guidance

in

Financial

Accounting

Standards

Board

(FASB)

Accounting

Standards

Codification

Topic

946,

Financial

Services

–

Investment

Companies

(ASC

946)

and

applies

the

specialized

accounting

and

reporting

guidance

in

U.S.

Generally

Accepted

Accounting

Principles

(U.S.

GAAP),

including,

but

not

limited

to,

ASC

946.

The

following

summarizes

the Fund's

significant

accounting

policies.

a.

Financial

Instrument

Valuation

The

Fund's

investments

in

financial

instruments

are

carried

at

fair

value

daily.

Fair

value

is

the

price

that

would

be

received

to

sell

an

asset

or

paid

to

transfer

a

liability

in

an

orderly

transaction

between

market

participants

on

the

measurement

date.

The

Fund

calculates

the

net

asset

value

(NAV)

per

share

each business

day as

of

4

p.m.

Eastern

time

or

the

regularly

scheduled

close

of

the

New

York

Stock

Exchange

(NYSE),

whichever

is

earlier.

Under

compliance

policies

and

procedures

approved

by

the Fund's

Board

of

Trustees

(the

Board),

the

Board

has

designated

the

Fund’s

investment

manager

as

the

valuation

designee

and

has

responsibility

for

oversight

of

valuation.

The

investment

manager

is

assisted

by

the

Fund’s

administrator

in

performing

this

responsibility,

including

leading

the

cross-

functional

Valuation

Committee

(VC).

The

Fund

may

utilize

independent

pricing

services,

quotations

from

securities

and

financial

instrument

dealers,

and

other

market

sources

to

determine

fair

value.

Equity

securities

listed

on

an

exchange

or

on

the

NASDAQ

National

Market

System

are

valued

at

the

last

quoted

sale

price

or

the

official

closing

price of

the

day,

respectively.

Foreign

equity

securities

are

valued

as

of

the

close

of

trading

on

the

foreign

stock

exchange

on

which

the

security

is

primarily

traded,

or

as

of

4

p.m.

Eastern

time.

The

value

is

then

converted

into

its

U.S.

dollar

equivalent

at

the

foreign

exchange

rate

in

effect

at

4

p.m.

Eastern

time

on

the

day

that

the

value

of

the

security

is

determined.

Over-the-counter

(OTC)

securities

are

valued

within

the

range

of

the

most

recent

quoted

bid

and

ask

prices.

Securities

that

trade

in

multiple

markets

or

on

multiple

exchanges

are

valued

according

to

the

broadest

and

most

representative

market.

Certain

equity

securities

are

valued

based

upon

fundamental

characteristics

or

relationships

to

similar

securities. 

Debt

securities

generally

trade

in

the OTC

market

rather

than

on

a

securities

exchange.

The

Fund's

pricing

services

use

multiple

valuation

techniques

to

determine

fair

value.

In

instances

where

sufficient

market

activity

exists,

the

pricing

services

may

utilize

a

market-based

approach

through

which

quotes

from

market

makers

are

used

to

determine

fair

value.

In

instances

where

sufficient

market

activity

may

not

exist

or

is

limited,

the

pricing

services

also

utilize

proprietary

valuation

models

which

may

consider

market

characteristics

such

as

benchmark

yield

curves,

credit

spreads,

estimated

default

rates,

anticipated

market

interest

rate

volatility,

coupon

rates,

anticipated

timing

of

principal

repayments,

underlying

collateral,

and

other

unique

security

features

in

order

to

estimate

the

relevant

cash

flows,

which

are

then

discounted

to

calculate

the

fair

value.

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.

The

Fund

has

procedures

to

determine

the

fair

value

of

financial

instruments

for

which

market

prices

are

not

reliable

or

readily

available.

Under

these

procedures,

the Fund

primarily

employs

a

market-based

approach

which

may

use

related

or

comparable

assets

or

liabilities,

recent

transactions,

market

multiples,

and

other

relevant

information

for

the

investment

to

determine

the

fair

value

of

the

investment.

An

income-based

valuation

approach

may

also

be

used

in

which

the

anticipated

future

cash

flows

of

the

investment

are

discounted

to

calculate

fair

value.

Discounts

may

also

be

applied

due

to

the

nature

or

duration

of

any

restrictions

on

the

disposition

of

the

investments.

Due

to

the

inherent

uncertainty

of

valuations

of

such

investments,

the

fair

values

may

differ

significantly

from

the

values

that

would

have

been

used

had

an

active

market

existed.

Trading

in

securities

on

foreign

securities

stock

exchanges

and

OTC

markets

may

be

completed

before

4

p.m.

Eastern

time.

In

addition,

trading

in

certain

foreign

markets

may

not

take

place

on

every

Fund's

business

day. 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

Franklin

Limited

Duration

Income

Trust

Notes

to

Financial

Statements

(unaudited)

124

franklintempleton.com

Semiannual

Report

by

the

Fund.

As

a

result,

differences

may

arise

between

the

value

of

the

Fund's

portfolio

securities

as

determined

at

the

foreign

market

close

and

the

latest

indications

of

value

at

4

p.m.

Eastern

time. In

order

to

minimize

the

potential

for

these

differences,

an

independent

pricing

service

may

be

used

to

adjust

the

value

of

the

Fund's

portfolio

securities

to

the

latest

indications

of

fair

value

at

4

p.m.

Eastern

time.

At

June

30,

2025,

certain

securities

may

have

been

fair

valued

using

these

procedures,

in

which

case

the

securities

were

categorized

as

Level

2

within

the

fair

value

hierarchy

(referred

to

as

“market

level

fair

value”).

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

Fund's

NAV

is

not

calculated,

which

could

result

in

differences

between

the

value

of

the

Fund's

portfolio

securities

on

the

last

business

day

and

the

last

calendar

day

of

the

reporting

period.

Any

security

valuation

changes

due

to

an

open

foreign

market

are

adjusted

and

reflected

by

the

Fund

for

financial

reporting

purposes.

b.

Foreign

Currency

Translation 

Portfolio

securities

and

other

assets

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

based

on

the

exchange

rate

of

such

currencies

against

U.S.

dollars

on

the

date

of

valuation.

The

Fund

may

enter

into

foreign

currency

exchange

contracts

to

facilitate

transactions

denominated

in

a

foreign

currency.

Purchases

and

sales

of

securities,

income

and

expense

items

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

exchange

rate

in

effect

on

the

transaction

date.

Portfolio

securities

and

assets

and

liabilities

denominated

in

foreign

currencies

contain

risks

that

those

currencies

will

decline

in

value

relative

to

the

U.S.

dollar.

Occasionally,

events

may

impact

the

availability

or

reliability

of

foreign

exchange

rates

used

to

convert

the

U.S.

dollar

equivalent

value.

If

such

an

event

occurs,

the

foreign

exchange

rate

will

be

valued

at

fair

value

using

procedures

established

and

approved

by

the

Board.

The

Fund

does

not

separately

report

the

effect

of

changes

in

foreign

exchange

rates

from

changes

in

market

prices

on

securities

held.

Such

changes

are

included

in

net

realized

and

unrealized

gain

or

loss

from

investments

in

the

Statement of

Operations.

Realized

foreign

exchange

gains

or

losses

arise

from

sales

of

foreign

currencies,

currency

gains

or

losses

realized

between

the

trade

and

settlement

dates

on

securities

transactions

and

the

difference

between

the

recorded

amounts

of

dividends,

interest,

and

foreign

withholding

taxes

and

the

U.S.

dollar

equivalent

of

the

amounts

actually

received

or

paid.

Net

unrealized

foreign

exchange

gains

and

losses

arise

from

changes

in

foreign

exchange

rates

on

foreign

denominated

assets

and

liabilities

other

than

investments

in

securities

held

at

the

end

of

the

reporting

period.

c.

Securities

Purchased

on

a

When-Issued,

Forward Commitment or

Delayed

Delivery

Basis

and

TBA

Basis

The

Fund

may

purchase

securities

on

a when-issued,

forward

commitment

or

delayed

delivery

and to-be-

announced

(TBA)

basis,

with

payment

and

delivery

scheduled

for

a

future

date.

These

transactions

are

subject

to

market

fluctuations

and

are

subject

to

the

risk

that

the

value

at

delivery

may

be

more

or

less

than

the

trade

date

purchase

price.

Although

the

Fund

will

generally

purchase

these

securities

with

the

intention

of

holding

the

securities, it

may

sell

the

securities

before

the

settlement

date.

Collateral

has

been

pledged

and/or

received

for

open

TBA

trades.

d.

Mortgage

Dollar

Rolls

The

Fund

enters

into

mortgage

dollar

rolls,

typically

on

a

TBA

basis.

Mortgage

dollar

rolls

are

agreements

between

the

Fund

and

a

financial

institution

where

the

Fund

sells

(or

buys)

mortgage-backed

securities

for

delivery

on

a

specified

date

and

simultaneously

contracts

to

repurchase

(or

sell)

substantially

similar

(same

type,

coupon,

and

maturity)

securities

at

a

future

date

and

at

a

predetermined

price.

Gains

or

losses

are

realized

on

the

initial

sale,

and

the

difference

between

the

repurchase

price

and

the

sale

price

is

recorded

as

an

unrealized

gain

or

loss

to

the

Fund

upon

entering

into

the

mortgage

dollar

roll.

In

addition,

the

Fund

may

invest

the

cash

proceeds

that

are

received

from

the

initial

sale.

During

the

period

between

the

sale

and

repurchase,

the

Fund

is

not

entitled

to

principal

and

interest

paid

on

the

mortgage

backed

securities.

Transactions

in

1.

Organization

and

Significant

Accounting

Policies

(continued)

a.

Financial

Instrument

Valuation

(continued)

Franklin

Limited

Duration

Income

Trust

Notes

to

Financial

Statements

(unaudited)

125

franklintempleton.com

Semiannual

Report

mortgage

dollar

rolls

are

accounted

for

as

purchases

and

sales

and

may

result

in

an

increase

to

the

Fund's

portfolio

turnover

rate.

The

risks

of

mortgage

dollar

roll

transactions

include

the

potential

inability

of

the

counterparty

to

fulfill

its

obligations.

e.

Senior

Floating

Rate

Interests

The

Fund

invests

in

senior

secured

corporate

loans

that

pay

interest

at

rates

which

are

periodically

reset

by

reference

to

a

base

lending

rate

plus

a

spread.

These

base

lending

rates

are

generally

the

prime

rate

offered

by

a

designated

U.S.

bank

or

the

Secured

Overnight

Financing

Rate

(SOFR).

Senior

secured

corporate

loans

often

require

prepayment

of

principal

from

excess

cash

flows

or

at

the

discretion

of

the

borrower.

As

a

result,

actual

maturity

may

be

substantially

less

than

the

stated

maturity.

Senior

secured

corporate

loans

in

which

the Fund

invests

are

generally

readily

marketable,

but

may

be

subject

to

certain

restrictions

on

resale.

f.

Marketplace

Lending

The

Fund

invests

in

loans

obtained

through

marketplace

lending.

Marketplace

lending,

sometimes

referred

to

as

peer-to-peer

lending,

is

a

method

of

financing

in

which

a

platform

facilitates

the

borrowing

and

lending

of

money.

It

is

considered

an

alternative

to

more

traditional

forms

of

debt

financing.

Prospective

borrowers

are

required

to

provide

certain

financial

information

to

the

platform,

including,

but

not

limited

to,

the

intended

purpose

of

the

loan,

income,

employment

information,

credit

score,

debt-to-income

ratio,

credit

history

(including

defaults

and

delinquencies)

and

home

ownership

status.

Based

on

this

and

other

information,

the

platform

assigns

its

own

credit

rating

to

the

borrower

and

sets

the

interest

rate

for

the

requested

loan.

The

platform

then

posts

the

borrowing

requests

online,

giving

investors

the

opportunity

to

purchase

the

loans

based

on

factors

such

as

the

interest

rates

and

expected

yields

of

the

loans,

the

borrower

background

data,

and

the

credit

rating

assigned

by

the

platform.

When

the

Fund

invests

in

these

loans,

it

usually

purchases

all

rights,

title

and

interest

in

the

loans

pursuant

to

a

loan

purchase

agreement

directly

from

the

platform.

The

platform

or

a

third-party

servicer

typically

continues

to

service

the

loans,

collecting

payments

and

distributing

them

to

the

Fund,

less

any

servicing

fees

assessed.

The

servicer

is

typically

responsible

for

taking

actions

against

a

borrower

in

the

event

of

a

default

on

the

loan.

Servicing

fees,

along

with

other

administration

fees,

are

included

in

marketplace

lending

fees

in

the

Statement

of

Operations.

The Fund,

as

an

investor

in

a

loan,

would

be

entitled

to

receive

payment

only

from

the

borrower

and

would

not

be

able

to

recover

any

deficiency

from

the

platform,

except

under

very

narrow

circumstances.

The

loans

in

which

the

Fund

may

invest

are

unsecured.

g.

Income

and

Deferred

Taxes

It

is the Fund's

policy

to

qualify

as

a

regulated

investment

company

under

the

Internal

Revenue

Code. The Fund

intends

to

distribute

to

shareholders

substantially

all

of

its

taxable

income

and

net

realized

gains

to

relieve

it

from

federal

income

and

excise

taxes.

As

a

result,

no

provision

for

U.S.

federal

income

taxes

is

required.

The Fund

may

be

subject

to

foreign

taxation

related

to

income

received,

capital

gains

on

the

sale

of

securities

and

certain

foreign

currency

transactions

in

the

foreign

jurisdictions

in

which

it

invests.

Foreign

taxes,

if

any,

are

recorded

based

on

the

tax

regulations

and

rates

that

exist

in

the

foreign

markets

in

which

the

Fund

invests.

When

a

capital

gain

tax

is

determined

to

apply,

the

Fund

records

an

estimated

deferred

tax

liability

in

an

amount

that

would

be

payable

if

the

securities

were

disposed

of

on

the

valuation

date.

The Fund

may

recognize

an

income

tax

liability

related

to

its

uncertain

tax

positions

under

U.S.

GAAP

when

the

uncertain

tax

position

has

a

less

than

50%

probability

that

it

will

be

sustained

upon

examination

by

the

tax

authorities

based

on

its

technical

merits.

As

of

June

30,

2025, the Fund

has

determined

that

no

tax

liability

is

required

in

its

financial

statements

related

to

uncertain

tax

positions

for

any

open

tax

years

(or

expected

to

be

taken

in

future

tax

years).

Open

tax

years

are

those

that

remain

subject

to

examination

and

are

based

on

the

statute

of

limitations

in

each

jurisdiction

in

which

the Fund

invests.

h.

Security

Transactions,

Investment

Income,

Expenses

and

Distributions

Security

transactions

are

accounted

for

on

trade

date.

Realized

gains

and

losses

on

security

transactions

are

determined

on

a

specific

identification

basis.

Interest

income

(including

interest

income

from

payment-in-kind

securities,

if

any)

and

estimated

expenses

are

accrued

daily.

Amortization

1.

Organization

and

Significant

Accounting

Policies

(continued)

d.

Mortgage

Dollar

Rolls

(continued)

Franklin

Limited

Duration

Income

Trust

Notes

to

Financial

Statements

(unaudited)

126

franklintempleton.com

Semiannual

Report

of

premium

and

accretion

of

discount

on

debt

securities

are

included

in

interest

income.

Paydown

gains

and

losses

are

recorded

as

an

adjustment

to

interest

income.

The

Fund

may

receive

other

income

from

investments

in

senior

secured

corporate

loans

or

unfunded

commitments,

including

amendment

fees,

consent

fees

or

commitment

fees.

These

fees

are

recorded

as

income

when

received

by

the

Fund.

Facility

fees

are

recognized

as

income

over

the

expected

term

of

the

loan.

Dividend

income

is

recorded

on

the

ex-

dividend

date

except

for

certain

dividends

from

securities

where

the

dividend

rate

is

not

available.

In

such

cases,

the

dividend

is

recorded

as

soon

as

the

information

is

received

by

the

Fund.

Distributions

to

shareholders

are

recorded

on

the

ex

dividend

date.

The

Fund

employs

a

managed

distribution

policy

whereby

the

Fund

will

distribute

a

level

distribution

amount

to

shareholders.

The

Fund

intends

to

distribute

$0.0615

per

share

monthly.

The

Fund’s

distribution

level

may

be

changed

by

the

Board

in

the

future.

Under

the

policy,

the

Fund

is

managed

with

a

goal

of

generating

as

much

of

the

distribution

as

possible

from

net

investment

income

and

short-term

capital

gains.

The

balance

of

the

distribution

will

then

come

from

long-term

capital

gains

to

the

extent

permitted

and,

if

necessary,

a

return

of

capital.

Distributable

earnings

are

determined

according

to

income

tax

regulations

(tax

basis)

and

may

differ

from

earnings

recorded

in

accordance

with

U.S.

GAAP.

These

differences

may

be

permanent

or

temporary.

Permanent

differences

are

reclassified

among

capital

accounts

to

reflect

their

tax

character.

These

reclassifications

have

no

impact

on

net

assets

or

the

results

of

operations.

Temporary

differences

are

not

reclassified,

as

they

may

reverse

in

subsequent

periods.

i.

Accounting

Estimates

The

preparation

of

financial

statements

in

accordance

with

U.S.

GAAP

requires

management

to

make

estimates

and

assumptions

that

affect

the

reported

amounts

of

assets

and

liabilities

at

the

date

of

the

financial

statements

and

the

amounts

of

income

and

expenses

during

the

reporting

period.

Actual

results

could

differ

from

those

estimates.

j.

Guarantees

and

Indemnifications

Under

the Fund's

organizational

documents,

its

officers

and trustees

are

indemnified

by

the

Fund against

certain

liabilities

arising

out

of

the

performance

of

their

duties

to

the

Fund.

Additionally,

in

the

normal

course

of

business,

the

Fund

enters

into

contracts

with

service

providers

that

contain

general

indemnification

clauses.

The Fund's

maximum

exposure

under

these

arrangements

is

unknown

as

this

would

involve

future

claims

that

may

be

made

against

the Fund

that

have

not

yet

occurred.

Currently,

the Fund

expects

the

risk

of

loss

to

be

remote.

2.

Shares

of

Beneficial

Interest

At

June

30,

2025,

there

were

an

unlimited

number

of

shares

authorized

(without

par

value).

Under

the

program,

the

Fund

may

purchase,

from

time

to

time,

Fund

shares

in

open-market

transactions,

at

the

discretion

of

management.

This

authorization

remains

in

effect.

During

the

periods ended

June

30,

2025

and

December

31,

2024,

there

were

no

shares

repurchased.

3.

Credit

Facility

The

Fund

participates

in

a

revolving

senior

secured

margin

loan

agreement

(Credit

Facility)

with

The

Bank

of

New

York

Mellon

(BNYM)

pursuant

to

which

the

Fund

may

borrow

up

to

a

maximum

commitment

amount

of

$100

million.

The

Credit

Facility

provides

a

source

of

funds

to

the

Fund

to

purchase

additional

investments

as

part

of

its

investment

strategy.

Under

the

terms

of

the

Credit

Facility,

the

Fund

shall,

in

addition

to

interest

charged

on

any

borrowings

made

by

the

Fund

at

the

applicable

rate,

pay

an

annual

commitment

fee

of

0.25%

based

on

the

unused

portion

of

the

Credit

Facility

whenever

the

outstanding

borrowings

are

less

than

75%

of

the

commitment

amount.

Collateral

pledged

by

the

Fund

associated

with

outstanding

borrowings

is

held

in

a

segregated

account

with

the

Fund’s

custodian

and

the

securities

are

indicated

in

the

Schedule

of

Investments.

1.

Organization

and

Significant

Accounting

Policies

(continued)

h.

Security

Transactions,

Investment

Income,

Expenses

and

Distributions

(continued)

Franklin

Limited

Duration

Income

Trust

Notes

to

Financial

Statements

(unaudited)

127

franklintempleton.com

Semiannual

Report

At

June

30,

2025,

the

Fund

had

outstanding

borrowings

of

$97,500,000,

which

approximates

fair

value,

and

incurred

interest

expenses

at

a

rate

equal

to

the

Overnight

Bank

Funding

Rate

(OBFR)

plus

0.80%.

The

borrowings

are

categorized

as

Level

2

within

the

fair

value

hierarchy.

The

average

borrowings

and

the

average

interest

rate

for

the

days

with

outstanding

borrowings

during

the period

ended

June

30,

2025,

were $97,500,000

and

5.13%,

respectively.

4. Reverse

Repurchase

Agreements 

The

Fund enters

into

reverse

repurchase

agreements,

under

which

the

Fund

sells

securities

in

exchange

for

cash

to

counterparties,

with

a

simultaneous

agreement

to

repurchase

the

same

or

substantially

the

same

security

at

a

mutually

agreed-upon

date

and

price.

Such

a

transaction

is

accounted

for

as

a

secured

borrowing

by

the

Fund,

collateralized

by

securities

for

which

the

Fund

retains

possession.

The

gross

amount

of

cash

received

in

exchange

for

securities

sold

plus

accrued

interest

payments

to

be

made

by

the

Fund

to

counterparties

are

reflected

as

a

payable

for

Reverse

repurchase

agreements

on

the

Statement

of

Assets

and

Liabilities.

Interest

payments

made

on

reverse

repurchase

agreements

are

recorded

as

a

component

of

interest

expense

on

the

Statement

of

Operations.

Reverse

repurchase

agreements

are

subject

to

the

terms

of

Master

Repurchase

Agreements

(MRAs)

with

approved

counterparties

(buyers).

The

MRAs

contain

various

provisions,

including

but

not

limited

to

events

of

default

and

maintenance

of

collateral

for

reverse

repurchase

agreements.

In

the

event

of

default

by

either

the

buyer

or

the

Fund,

certain

MRAs

may

permit

the

non-defaulting

party

to

net

and

close-out

all

transactions,

if

any,

traded

under

such

agreements.

The

buyer

may

sell

securities

the Fund

pledged

as

collateral

and

apply

the

proceeds

towards

the

reverse

repurchase

price

and

any

other

amounts

owed

by

the Fund

in

the

event

of

default

by

the

Fund.

This

could

involve

costs

or

delays

in

addition

to

a

loss

on

the

securities

if

their

value

falls

below

the

reverse

repurchase

price

owed

by

the

Fund.

The

Fund

monitors

collateral

fair

value

for

the

reverse

repurchase

agreement,

including

accrued

interest,

over

the

life

of

the

agreement,

and

when

necessary,

delivers

or

receives

cash

or

securities

in

order

to

manage

credit

exposure

and

liquidity.

The

remaining

contractual

maturity

of

the

repurchase

agreements

totaling $6,464,494

are

up

to 31-90

days.

The

Fund

pledged

securities

as

collateral

valued

at $7,483,896

which

have

been

identified

on

the

Schedule

of

Investments.

Any

cash

collateral

that

has

been

delivered

to

manage

credit

exposure

and

liquidity

for

reverse

repurchase

agreements

is

reflected

as

a receivable

for

deposits with

brokers

for

reverse

repurchase

agreements

on

the

Statement

of

Assets

and

Liabilities.

For

the period

ended

June

30,

2025,

the

average

borrowings

and

the

average

interest

rate

were

$8,616,072

and

4.9%,

respectively.

5.

Transactions

with

Affiliates

Franklin

Resources,

Inc.

is

the

holding

company

for

various

subsidiaries

that

together

are

referred

to

as

Franklin

Templeton.

Certain

officers

and trustees

of

the Fund are

also

officers

and/or

directors

of

the

following

subsidiaries:

a.

Management

Fees

The

Fund

pays

an

investment

management

fee,

calculated daily

and

paid

monthly,

to Advisers

of

0.70%

per

year

of

the

average daily

managed

assets.

Managed

assets

are

defined

as

the

Fund’s

gross

asset

value

minus

the

sum

of

accrued

liabilities,

other

than

the

principal

amount

of

the

Credit

Facility

and

other

financial

leverage.

Subsidiary

Affiliation

Franklin

Advisers,

Inc.

(Advisers)

Investment

manager

Franklin

Templeton

Services,

LLC

(FT

Services)

Administrative

manager

3.

Credit

Facility

(continued)

Franklin

Limited

Duration

Income

Trust

Notes

to

Financial

Statements

(unaudited)

128

franklintempleton.com

Semiannual

Report

b.

Administrative

Fees

Under

an

agreement

with

Advisers,

FT

Services

provides

administrative

services

to

the

Fund.

The

fee

is

paid

by Advisers

based

on

the Fund's

average

daily

net

assets,

and

is

not

an

additional

expense

of

the

Fund.

c.

Investments

in

Affiliated

Management

Investment

Companies

The

Fund

invests

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

Fund

does

not

invest

for

purposes

of

exercising

a

controlling

influence

over

the

management

or

policies.

Management

fees

paid

by

the

Fund

are

waived

on

assets

invested

in

the

affiliated

management

investment

companies,

as

noted

in

the

Statement

of

Operations,

in

an

amount

not

to

exceed

the

management

and

administrative

fees,

if

applicable, paid

directly

or

indirectly

by

each

affiliate.

During

the

period

ended

June

30,

2025,

the

Fund

held

investments

in

affiliated

management

investment

companies

as

follows:

6.

Income

Taxes

For

tax

purposes,

capital

losses

may

be

carried

over

to

offset

future

capital

gains.

At

December

31,

2024,

the

capital

loss

carryforwards

were

as

follows:

For

tax

purposes,

the

Fund

may

elect

to

defer

any

portion

of

a

post-October

capital

loss

or

late-year

ordinary

loss

to

the

first

day

of

the

following

fiscal

year.

At

December

31,

2024

,

the

Fund

deferred

late-year

ordinary

losses

of

$232

.

At

June

30,

2025,

the

cost

of

investments

and

net

unrealized

appreciation

(depreciation) for

income

tax

purposes

were

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

a      

a  

a  

a  

a  

a  

a  

a  

Franklin

Limited

Duration

Income

Trust

Non-Controlled

Affiliates

Dividends

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

4.332%

$11,532,360

$82,413,002

$(81,554,634)

$—

$—

$12,390,728

12,390,728

$239,817

Total

Affiliated

Securities

...

$11,532,360

$82,413,002

$(81,554,634)

$—

$—

$12,390,728

$239,817

Capital

loss

carryforwards

not

subject

to

expiration:

Short

term

................................................................................

$

6,148,129

Long

term

................................................................................

47,692,436

Total

capital

loss

carryforwards

...............................................................

$53,840,565

Cost

of

investments

..........................................................................

$406,539,487

Unrealized

appreciation

........................................................................

$5,551,961

Unrealized

depreciation

........................................................................

(21,304,719)

Net

unrealized

appreciation

(depreciation)

..........................................................

$(15,752,758)

5.

Transactions

with

Affiliates

(continued)

Franklin

Limited

Duration

Income

Trust

Notes

to

Financial

Statements

(unaudited)

129

franklintempleton.com

Semiannual

Report

Differences

between

income

and/or

capital

gains

as

determined

on

a

book

basis

and

a

tax

basis

are

primarily

due

to

differing

treatments

of

defaulted

securities,

paydown

losses,

payments-in-kind

and

bond

discounts

and

premiums.

7.

Investment

Transactions

Purchases

and

sales

of

investments (excluding

short

term

securities) for

the

period

ended

June

30,

2025,

aggregated

$204,071,430 and

$212,511,773,

respectively. 

8.

Credit

Risk

and

Defaulted

Securities

At

June

30,

2025,

the

Fund

had 77.1% of

its

portfolio

invested

in

high

yield

securities,

senior

secured

floating

rate

loans,

or

other

securities rated

below

investment

grade

and

unrated

securities.

These

securities

may

be

more

sensitive

to

economic

conditions

causing

greater

price

volatility

and

are

potentially

subject

to

a

greater

risk

of

loss

due

to

default

than

higher

rated

securities.

The

Fund held

defaulted

securities

and/or

other

securities

for

which

the

income

has

been

deemed

uncollectible.

At

June

30,

2025,

the

aggregate

value

of

these

securities represents less

than

0.1%

of

the

Fund's net

assets.

The

Fund

discontinues

accruing

income

on

securities

for

which

income

has

been

deemed

uncollectible

and

provides

an

estimate

for

losses

on

interest

receivable.

The

securities

have

been

identified

in

the

accompanying

Schedule

of

Investments.

9.

Unfunded

Loan

Commitments

The

Fund

enters

into

certain

credit

agreements,

all

or

a

portion

of

which

may

be

unfunded.

The Fund

is

obligated

to

fund

these

loan

commitments

at

the

borrowers’

discretion.

Unfunded

loan

commitments

and

funded

portions

of

credit

agreements

are

marked

to

market

daily

and

any

unrealized

appreciation

or

depreciation

is

included

in

the

Statement

of

Assets

and

Liabilities

and

the

Statement

of

Operations.

Funded

portions

of

credit

agreements

are

presented

in

the

Schedule

of

Investments.

At

June

30,

2025,

unfunded

commitments

were

as

follows:

10.

Fair

Value

Measurements

The

Fund

follows

a

fair

value

hierarchy

that

distinguishes

between

market

data

obtained

from

independent

sources

(observable

inputs)

and

the Fund's

own

market

assumptions

(unobservable

inputs).

These

inputs

are

used

in

determining

the

value

of

the

Fund's financial

instruments

and

are

summarized

in

the

following

fair

value

hierarchy:

Level

1

–

quoted

prices

in

active

markets

for

identical

financial

instruments

Level

2

–

other

significant

observable

inputs

(including

quoted

prices

for

similar

financial

instruments,

interest

rates,

prepayment

speed,

credit

risk,

etc.)

Level

3

–

significant

unobservable

inputs

(including

the

Fund's

own

assumptions

in

determining

the

fair

value

of

financial

instruments)

Borrower

Unfunded

Commitment

Franklin

Limited

Duration

Income

Trust

Clydesdale

Acquisition

Holdings,

Inc.

$

9,195

GC

Ferry

Acquisition

I,

Inc.

96,415

June

Purchaser

LLC

70,055

Signia

Aerospace

LLC

22,706

Student

Transportation

of

America

Holdings,

Inc.

13,021

$

211,393

6.

Income

Taxes

(continued)

Franklin

Limited

Duration

Income

Trust

Notes

to

Financial

Statements

(unaudited)

130

franklintempleton.com

Semiannual

Report

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

June

30,

2025,

in

valuing

the

Fund's assets

and

liabilities carried

at

fair

value,

is

as

follows:

Level

1

Level

2

Level

3

Total

Franklin

Limited

Duration

Income

Trust

Assets:

Investments

in

Securities:

Common

Stocks

:

Hotels,

Restaurants

&

Leisure

.............

$

—

$

5,917

$

—

$

5,917

Metals

&

Mining

.......................

—

67,067

—

67,067

Oil,

Gas

&

Consumable

Fuels

.............

4,188

106,774

—

110,962

Pharmaceuticals

.......................

245,233

—

—

245,233

Software

.............................

—

—

26,325

26,325

Specialty

Retail

........................

—

—

—

a

—

Corporate

Bonds

:

Aerospace

&

Defense

...................

—

3,587,978

—

3,587,978

Automobile

Components

.................

—

3,116,871

—

3,116,871

Automobiles

..........................

—

697,346

—

697,346

Biotechnology

.........................

—

1,297,922

—

1,297,922

Broadline

Retail

.......................

—

1,990,784

—

1,990,784

Building

Products

......................

—

5,699,895

—

5,699,895

Capital

Markets

........................

—

2,420,364

—

2,420,364

Chemicals

...........................

—

7,230,097

—

a

7,230,097

Commercial

Services

&

Supplies

...........

—

6,312,373

—

6,312,373

Construction

&

Engineering

...............

—

394,283

—

394,283

Consumer

Finance

.....................

—

5,306,720

—

5,306,720

Consumer

Staples

Distribution

&

Retail

......

—

724,656

—

724,656

Containers

&

Packaging

.................

—

5,248,554

—

5,248,554

Distributors

...........................

—

991,541

—

991,541

Diversified

Consumer

Services

............

—

1,264,073

—

1,264,073

Diversified

REITs

......................

—

2,328,074

—

2,328,074

Diversified

Telecommunication

Services

.....

—

1,969,650

—

1,969,650

Electric

Utilities

........................

—

2,430,442

—

2,430,442

Electrical

Equipment

....................

—

1,268,671

—

1,268,671

Electronic

Equipment,

Instruments

&

Components

........................

—

1,265,038

—

1,265,038

Energy

Equipment

&

Services

.............

—

4,766,528

—

4,766,528

Entertainment

.........................

—

1,626,756

—

1,626,756

Financial

Services

......................

—

8,928,198

—

8,928,198

Food

Products

........................

—

682,630

—

682,630

Ground

Transportation

..................

—

1,635,349

—

1,635,349

Health

Care

Equipment

&

Supplies

.........

—

1,746,198

—

1,746,198

Health

Care

Providers

&

Services

..........

—

6,104,910

—

6,104,910

Health

Care

REITs

.....................

—

785,521

—

785,521

Health

Care

Technology

.................

—

950,408

—

950,408

Hotel

&

Resort

REITs

...................

—

1,719,435

—

1,719,435

Hotels,

Restaurants

&

Leisure

.............

—

10,400,177

—

a

10,400,177

Household

Durables

....................

—

4,023,065

—

4,023,065

Household

Products

....................

—

189,342

—

189,342

Independent

Power

and

Renewable

Electricity

Producers

..........................

—

3,273,223

—

3,273,223

Insurance

............................

—

3,349,016

—

3,349,016

Interactive

Media

&

Services

..............

—

359,363

—

359,363

IT

Services

...........................

—

2,672,722

—

2,672,722

Machinery

............................

—

3,937,311

—

3,937,311

Media

...............................

—

7,150,307

—

7,150,307

Metals

&

Mining

.......................

—

2,222,468

—

2,222,468

10.

Fair

Value

Measurements

(continued)

Franklin

Limited

Duration

Income

Trust

Notes

to

Financial

Statements

(unaudited)

131

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Semiannual

Report

Level

1

Level

2

Level

3

Total

Franklin

Limited

Duration

Income

Trust

(continued)

Assets:

(continued)

Investments

in

Securities:

(continued)

Corporate

Bonds:

(continued)

Mortgage

Real

Estate

Investment

Trusts

(REITs)

............................

$

—

$

1,427,001

$

—

$

1,427,001

Oil,

Gas

&

Consumable

Fuels

.............

—

13,141,974

—

a

13,141,974

Paper

&

Forest

Products

.................

—

353,856

—

353,856

Passenger

Airlines

.....................

—

984,111

—

984,111

Personal

Care

Products

.................

—

1,584,450

—

1,584,450

Pharmaceuticals

.......................

—

1,111,511

—

1,111,511

Professional

Services

...................

—

439,109

—

439,109

Real

Estate

Management

&

Development

....

—

2,064,627

—

2,064,627

Software

.............................

—

2,890,842

—

2,890,842

Specialized

REITs

......................

—

1,035,866

—

1,035,866

Specialty

Retail

........................

—

1,260,301

—

1,260,301

Technology

Hardware,

Storage

&

Peripherals

.

—

559,586

—

559,586

Textiles,

Apparel

&

Luxury

Goods

..........

—

1,855,372

—

1,855,372

Trading

Companies

&

Distributors

..........

—

4,039,597

—

4,039,597

Wireless

Telecommunication

Services

.......

—

2,680,146

1,126

2,681,272

Senior

Floating

Rate

Interests

...............

—

114,807,813

131,084

114,938,897

Marketplace

Loans

.......................

—

—

49,559,728

49,559,728

Asset-Backed

Securities

...................

—

20,967,187

—

20,967,187

Mortgage-Backed

Securities

................

—

40,973,994

—

40,973,994

Municipal

Bonds

.........................

—

388,579

—

388,579

Escrows

and

Litigation

Trusts

...............

—

—

—

a

—

Short

Term

Investments

...................

12,390,728

—

—

12,390,728

Total

Investments

in

Securities

...........

$12,640,149

$334,813,939

b

$49,718,263

$397,172,351

Other

Financial

Instruments:

Unfunded

Loan

Commitments

..............

$—

$676

$—

$676

Total

Other

Financial

Instruments

.........

$—

$676

$—

$676

Liabilities:

Other

Financial

Instruments:

Reverse

Repurchase

Agreements

............

$

—

$

6,389,908

$

—

$

6,389,908

Unfunded

Loan

Commitments

...............

—

1,653

—

1,653

Total

Other

Financial

Instruments

.........

$—

$6,391,561

$—

$6,391,561

a

Includes

financial

instruments

determined

to

have

no

value.

b

Includes

foreign

securities

valued

at

$67,067,

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.

10.

Fair

Value

Measurements

(continued)

Franklin

Limited

Duration

Income

Trust

Notes

to

Financial

Statements

(unaudited)

132

franklintempleton.com

Semiannual

Report

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

June

30,

2025,

the

reconciliation

is

as

follows:

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

Limited

Duration

Income

Trust

Assets:

Investments

in

Securities:

Common

Stocks

:

Software

..........

$

—

$

1,099,500

$

—

$

—

$

—

$

—

$

—

$

(1,073,175)

$

26,325

$

(1,073,175)

Specialty

Retail

.....

—

c

—

—

—

—

—

—

—

—

c

—

Corporate

Bonds

:

Chemicals

........

—

c

18

—

—

—

—

—

(18)

—

c

(18)

Hotels,

Restaurants

&

Leisure

.........

—

c

—

—

—

—

—

—

—

—

c

—

Oil,

Gas

&

Consumable

Fuels

..........

—

c

—

—

—

—

—

—

—

—

c

—

Wireless

Telecommunication

Services

........

1,192

—

(420)

—

—

414

389

(449)

1,126

129

Senior

Floating

Rate

Interests

:

Diversified

Consumer

Services

........

—

131,084

—

—

—

—

—

—

131,084

—

Marketplace

Loans

:

Financial

Services

...

51,407,861

14,911,848

(16,299,065)

—

—

—

(44,090)

(416,826)

49,559,728

(926,773)

Escrows

and

Litigation

Trusts

:

—

c

—

—

—

—

—

—

—

—

c

—

Total

Investments

in

Securities

............

$51,409,053

$16,142,450

$(16,299,485)

$—

$—

$414

$(43,701)

$(1,490,468)

$49,718,263

$(1,999,837)

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.

c

Includes

financial

instruments

determined

to

have

no

value.

10.

Fair

Value

Measurements

(continued)

Franklin

Limited

Duration

Income

Trust

Notes

to

Financial

Statements

(unaudited)

133

franklintempleton.com

Semiannual

Report

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

June

30,

2025,

are

as

follows:

11.

Operating

Segments

The

Fund has adopted

the

FASB

Accounting

Standards

Update

(ASU)

2023-07,

Segment

Reporting

(Topic

280)

-

Improvements

to

Reportable

Segment

Disclosures.

The

update

is

limited

to

disclosure

requirements

and

does

not

impact

the Fund's

financial

position

or

results

of

operations.

The Fund operates

as

a

single

operating

segment,

which

is

an

investment

portfolio.

The

Fund's Investment

manager

serves

as

the

Chief

Operating

Decision

Maker

(CODM),

evaluating

fund-wide

results

and

performance

under

a

unified

investment

strategy.

The

CODM

uses

these

measures

to

assess

fund

performance

and

allocate

resources

effectively.

Internal

reporting

provided

to

the

CODM

aligns

with

the

accounting

policies

and

measurement

principles

used

in

the financial

statements.

For

information

regarding

segment

assets,

segment

profit

or

loss,

and

significant

expenses,

refer

to

the Statement

of

Assets

and

Liabilities

and

the Statement

of

Operations,

along

with

the

related

notes

to

the financial

statements.

The Schedule

of

Investments

provides

details

of

the Fund's

investments

that

generate

returns

such

as

interest,

dividends,

and

realized

and

unrealized

gains

or

losses.

Performance

metrics,

including

portfolio

turnover

and

expense

ratios,

are

disclosed

in

the Financial

Highlights. 

12.

Subsequent

Events

The

Fund

has

evaluated

subsequent

events

through

the

issuance

of

the

financial

statements

and

determined

that

no

events

have

occurred

that

require

disclosure.

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

Limited

Duration

Income

Trust

Assets:

Investments

in

Securities:

Marketplace

Loans:

Financial

Services

.............

$49,559,728

Discounted

cash

flow

Loss-adjusted

discount

rate

-0.2%

-

14.7%

(9.9%)

Decrease

Projected

loss

rate

2.4%

-

92.8%

(14.1%)

Decrease

All

Other

Investments

.............

158,535

c,d

Total

..........................

$49,718,263

a

Weighted

based

on

the

relative

fair

value

of

the

financial

instruments

.

b

Represents

the

directional

change

in

the

fair

value

of

the

Level

3

financial

instruments

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

increases

and

decreases

in

these

inputs

in

isolation

could

result

in

significantly

higher

or

lower

fair

value

measurements.

c

Includes

fair

value

of

immaterial

assets

and/or

liabilities

developed

using

various

valuation

techniques

and

unobservable

inputs

.

d

Includes

financial

instruments

determined

to

have

no

value

.

10.

Fair

Value

Measurements

(continued)

Franklin

Limited

Duration

Income

Trust

Notes

to

Financial

Statements

(unaudited)

134

franklintempleton.com

Semiannual

Report

Abbreviations

Currency

USD

United

States

Dollar

Selected

Portfolio

CLO

Collateralized

Loan

Obligation

CME

Chicago

Mercantile

Exchange

FHLMC

Federal

Home

Loan

Mortgage

Corp.

FNMA

Federal

National

Mortgage

Association

FRN

Floating

Rate

Note

GNMA

Government

National

Mortgage

Association

IBOR

Interbank

Offered

Rate

MBS

Mortgage-Backed

Security

PIK

Payment-In-Kind

REIT

Real

Estate

Investment

Trust

SOFR

Secured

Overnight

Financing

Rate

Franklin

Limited

Duration

Income

Trust

135

franklintempleton.com

Semiannual

Report

Important

Information

to

Shareholders

Share

Repurchase

Program

The

Fund’s

Board

has

authorized

the

Fund

to

repurchase

up

to

10%

of

the

Fund’s

outstanding

shares

in

open-market

transactions,

at

the

discretion

of

management.

In

exercising

its

discretion

consistent

with

its

portfolio

management

responsibilities,

the

Investment

Manager

will

take

into

account

various

other

factors,

including,

but

not

limited

to,

the

level

of

the

discount,

the

Fund’s

performance,

portfolio

holdings,

dividend

history,

market

conditions,

cash

on

hand,

the

availability

of

other

attractive

investments

and

whether

the

sale

of

certain

portfolio

securities

would

be

undesirable

because

of

liquidity

concerns

or

because

the

sale

might

subject

the

Fund

to

adverse

tax

consequences.

Any

repurchases

would

be

made

on

a

national

securities

exchange

at

the

prevailing

market

price,

subject

to

exchange

requirements,

Federal

securities

laws

and

rules

that

restrict

repurchases,

and

the

terms

of

any

outstanding

leverage

or

borrowing

of

the

Fund.

If

and

when

the

Fund’s

10%

threshold

is

reached,

no

further

repurchases

could

be

completed

until

authorized

by

the

Board.

Until

the

10%

threshold

is

reached,

Fund

management

will

have

the

flexibility

to

commence

share

repurchases

if

and

when

it

is

determined

to

be

appropriate

in

light

of

prevailing

circumstances.

In

the

Notes

to

Financial

Statements

section,

please

see

note

2

(Shares

of

Beneficial

Interest)

for

additional

information

regarding

shares

repurchased.

Managed

Distribution

Plan

The

Board

has

implemented

a

managed

distribution

plan

where

the

Fund

distributes

a

level

monthly

distribution

to

shareholders

at

the

fixed

rate

of

$0.0615

per

share.

Management

will

generally

distribute

amounts

necessary

to

satisfy

the

Fund’s

plan

and

the

requirements

prescribed

by

excise

tax

rules

and

Subchapter

M

of

the

Internal

Revenue

Code.

The

plan

is

intended

to

provide

shareholders

with

a

consistent

distribution

each

month

and

is

intended

to

narrow

the

discount

between

the

market

price

and

the

NAV

of

the

Fund’s

common

shares,

but

there

is

no

assurance

that

the

plan

will

be

successful

in

doing

so.

Under

the

managed

distribution

plan,

to

the

extent

that

sufficient

investment

income

is

not

available

on

a

monthly

basis,

the

Fund

will

distribute

long-term

capital

gains

and/or

return

of

capital

in

order

to

maintain

its

managed

distribution

rate.

No

conclusions

should

be

drawn

about

the

Fund’s

investment

performance

from

the

amount

of

the

Fund’s

distributions

or

from

the

terms

of

the

Fund’s

managed

distribution

plan.

The

Board

may

amend

the

terms

of

the

plan

or

terminate

the

plan

at

any

time.

The

amendment

or

termination

of

the

plan

could

have

an

adverse

effect

on

the

market

price

of

the

Fund’s

common

shares.

The

plan

will

be

subject

to

the

periodic

review

by

the

Board,

including

a

yearly

review

of

the

annual

minimum

fixed

rate

to

determine

if

an

adjustment

should

be

made.

In

compliance

with

Rule

19a-1

of

the

Investment

Company

Act

of

1940,

shareholders

will

receive

a

notice

that

details

the

source

of

income

for

each

dividend

such

as

net

investment

income,

gain

from

the

sale

of

securities

and

return

of

principal.

However,

determination

of

the

actual

source

of

the

Fund’s

dividend

can

only

be

made

at

year-end.

The

actual

source

amounts

of

all

Fund

dividends

will

be

included

in

the

Fund’s

annual

or

semiannual

reports.

In

addition,

the

tax

treatment

may

differ

from

the

accounting

treatment

used

to

calculate

the

source

of

the

Fund’s

dividends

as

shown

on

shareholders’

statements.

Shareholders

should

refer

to

their

Form

1099-DIV

for

the

character

and

amount

of

distributions

for

income

tax

reporting

purposes.

Since

each

shareholder’s

tax

situation

is

unique,

it

may

be

advisable

to

consult

a

tax

advisor

as

to

the

appropriate

treatment

of

Fund

distributions.

Franklin

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Duration

Income

Trust

Annual

Meeting

of

Shareholders

136

franklintempleton.com

Semiannual

Report

The

Annual

Meeting

of

Shareholders

(the

“Meeting”)

for

Franklin

Limited

Duration

Income

Trust

(Fund)

was

held

on

October

3,

2024.

At

the

Meeting,

shareholders

elected

J.

Michael

Luttig,

Valerie

M.

Williams

and

Gregory

E.

Johnson.

as

Trustees

of

the

Fund

to

hold

office

for

a

three

year

term,

set

to

expire

at

the

2027

Annual

Meeting

of

Shareholders.

These

terms

continue,

however,

until

their

successors

are

duly

elected

and

qualified

or

until

a

Trustee’s

resignation,

retirement,

death

or

removal,

whichever

is

earlier.

The

results

of

the

voting

were

as

follows:

Note:

Harris

J.

Ashton,

Terrence

J.

Checki,

Mary

C.

Choksi,

Edith

E.

Holiday

and

Larry

D.

Thompson

are

Trustees

of

the

Fund

who

are

currently

serving

and

whose

terms

of

office

continued

after

the

meeting.

Trustee

Nominees

Shares

For

Shares

Withheld

J.

Michael

Luttig

Valerie

M.

Williams

Gregory

E.

Johnson

30,672,246

30,672,246

30,672,246

1,858,429

1,858,429

1,858,429

Franklin

Limited

Duration

Income

Trust

137

franklintempleton.com

Semiannual

Report

Dividend

Reinvestment

and

Cash

Purchase

Plan

The

Fund’s

Dividend

Reinvestment

Plan

(Plan)

offers

you

a

prompt

and

simple

way

to

reinvest

dividends

and

capital

gain

distributions

(Distributions)

in

shares

of

the

Fund.

Equiniti

Trust

Company,

LLC

(Plan

Agent),

P.O.

Box

922,

Wall

Street

Station,

New

York,

NY

10269-0560,

acts

as

your

Plan

Agent

in

administering

the

Plan.

The

Agent

will

open

an

account

for

you

under

the

Plan

in

the

same

name

as

your

outstanding

shares

are

registered.

You

are

automatically

enrolled

in

the

Plan

unless

you

elect

to

receive

Distributions

in

cash.

If

you

own

shares

in

your

own

name,

you

should

notify

the

Agent,

in

writing,

if

you

wish

to

receive

Distributions

in

cash.

If

the

Fund

declares

a

Distribution,

you,

as

a

participant

in

the

Plan,

will

automatically

receive

an

equivalent

amount

of

shares

of

the

Fund

purchased

on

your

behalf

by

the

Agent.

If

on

the

payment

date

for

a

Distribution,

the

net

asset

value

per

share

is

equal

to

or

less

than

the

market

price

per

share

plus

estimated

brokerage

commissions,

the

Agent

shall

receive

newly

issued

shares,

including

fractions,

from

the

Fund

for

your

account.

The

number

of

additional

shares

to

be

credited

shall

be

determined

by

dividing

the

dollar

amount

of

the

Distribution

by

the

greater

of

the

net

asset

value

per

share

on

the

payment

date,

or

95%

of

the

then

current

market

price

per

share.

If

the

net

asset

value

per

share

exceeds

the

market

price

plus

estimated

brokerage

commissions

on

the

payment

date

for

a

Distribution,

the

Agent

(or

a

broker-dealer

selected

by

the

Agent)

shall

try,

for

a

purchase

period

of

30

days,

to

apply

the

amount

of

such

Distribution

on

your

shares

(less

your

pro

rata

share

of

brokerage

commissions

incurred)

to

purchase

shares

on

the

open

market.

The

weighted

average

price

(including

brokerage

commissions)

of

all

shares

it

purchases

shall

be

your

allocated

price

per

share.

If,

before

the

Agent

has

completed

its

purchases,

the

market

price

plus

estimated

brokerage

commissions

exceeds

the

net

asset

value

of

the

shares

as

of

the

payment

date,

the

purchase

price

the

Agent

paid

may

exceed

the

net

asset

value

of

the

shares,

resulting

in

the

acquisition

of

fewer

shares

than

if

such

Distribution

had

been

paid

in

shares

issued

by

the

Fund.

Participants

should

note

that

they

will

not

be

able

to

instruct

the

Agent

to

purchase

shares

at

a

specific

time

or

at

a

specific

price.

The

Agent

may

make

open-market

purchases

on

any

securities

exchange

where

shares

are

traded,

in

the

over-the-counter

market

or

in

negotiated

transactions,

and

may

be

on

such

terms

as

to

price,

delivery

and

otherwise

as

the

Agent

shall

determine.

The

market

price

of

shares

on

a

particular

date

shall

be

the

last

sales

price

on

NYSE

MKT,

or,

if

there

is

no

sale

on

the

exchange

on

that

date,

then

the

mean

between

the

closing

bid

and

asked

quotations

on

the

exchange

on

such

date.

The

net

asset

value

per

share

on

a

particular

date

shall

be

the

amount

most

recently

calculated

by

or

on

behalf

of

the

Fund

as

required

by

law.

The

Agent

shall

at

all

times

act

in

good

faith

and

agree

to

use

its

best

efforts

within

reasonable

limits

to

ensure

the

accuracy

of

all

services

performed

under

this

agreement

and

to

comply

with

applicable

law,

but

assumes

no

responsibility

and

shall

not

be

liable

for

loss

or

damage

due

to

errors

unless

such

error

is

caused

by

the

Agent’s

negligence,

bad

faith,

or

willful

misconduct

or

that

of

its

employees.

Your

uninvested

funds

held

by

the

Agent

will

not

bear

interest.

The

Agent

shall

have

no

responsibility

for

the

value

of

shares

acquired.

For

the

purpose

of

cash

investments,

the

Agent

may

commingle

your

funds

with

those

of

other

participants

in

the

same

Fund.

There

is

no

direct

charge

to

participants

for

reinvesting

Distributions,

since

the

Agent’s

fees

are

paid

by

the

Fund.

However,

when

shares

are

purchased

in

the

open

market,

each

participant

will

pay

a

pro

rata

portion

of

any

brokerage

commissions

incurred.

If

you

elect

by

notice

to

the

Agent

to

have

it

sell

part

or

all

of

your

shares

and

remit

the

proceeds,

the

Agent

will

deduct

brokerage

commissions

from

the

proceeds.

The

automatic

reinvestment

of

Distributions

does

not

relieve

you

of

any

taxes

that

may

be

payable

on

Distributions.

In

connection

with

the

reinvestment

of

Distributions,

shareholders

generally

will

be

treated

as

having

received

a

Distribution

equal

to

the

cash

Distribution

that

would

have

been

paid.

The

Agent

will

forward

to

you

any

proxy

solicitation

material

and

will

vote

any

shares

so

held

for

you

first

in

accordance

with

the

instructions

set

forth

on

proxies

you

return

to

the

Fund,

and

then

with

respect

to

any

proxies

you

do

not

return

to

the

Fund

in

the

same

portion

as

the

Agent

votes

proxies

the

participants

return

to

the

Fund.

Franklin

Limited

Duration

Income

Trust

Dividend

Reinvestment

and

Cash

Purchase

Plan

138

franklintempleton.com

Semiannual

Report

As

long

as

you

participate

in

the

Plan,

the

Agent

will

hold

the

shares

it

has

acquired

for

you

in

safekeeping,

in

its

name

or

in

the

name

of

its

nominee.

This

convenience

provides

added

protection

against

loss,

theft

or

inadvertent

destruction

of

certificates.

However,

you

may

request

that

a

certificate

representing

your

Plan

shares

be

issued

to

you.

Upon

your

written

request,

the

Agent

will

deliver

to

you,

without

charge,

a

certificate

or

certificates

for

the

full

shares.

The

Agent

will

send

you

a

confirmation

of

each

acquisition

made

for

your

account

as

soon

as

practicable,

but

not

later

than

60

days

after

the

acquisition

date.

Although

from

time

to

time

you

may

have

an

undivided

fractional

interest

in

a

share

of

the

Fund,

no

certificates

for

a

fractional

share

will

be

issued.

Distributions

on

fractional

shares

will

be

credited

to

your

account.

If

you

terminate

your

account

under

the

Plan,

the

Agent

will

adjust

for

any

such

undivided

fractional

interest

in

cash

at

the

market

value

of

shares

at

the

time

of

termination.

You

may

withdraw

from

the

Plan

at

any

time,

without

penalty,

by

notifying

the

Agent

in

writing

at

the

address

above

or

by

telephone

at

(800)

416-5585.

Such

termination

will

be

effective

with

respect

to

a

Distribution

if

the

Agent

receives

your

notice

prior

to

the

Distribution

record

date.

The

Agent

or

the

Fund

may

terminate

the

Plan

upon

notice

to

you

in

writing

mailed

at

least

30

days

prior

to

any

record

date

for

the

payment

of

any

Distribution.

Upon

any

termination,

the

Agent

will

issue,

without

charge,

stock

certificates

for

all

full

shares

you

own

and

will

convert

any

fractional

shares

you

hold

at

the

time

of

termination

to

cash

at

current

market

price

and

send

you

a

check

for

the

proceeds.

The

Fund

or

the

Agent

may

amend

the

Plan.

You

will

receive

written

notice

at

least

30

days

before

the

effective

date

of

any

amendment.

Franklin

Limited

Duration

Income

Trust

Shareholder

Information

139

franklintempleton.com

Semiannual

Report

Board

Approval

of

Investment

Management

Agreements

FRANKLIN

LIMITED

DURATION

INCOME

TRUST

(Fund)

At

an

in-person

meeting

held

on

April

15,

2025

(Meeting),

the

Board

of

Trustees

(Board)

of

the

Fund,

including

a

majority

of

the

trustees

who

are

not

“interested

persons”

as

defined

in

the

Investment

Company

Act

of

1940

(Independent

Trustees),

reviewed

and

approved

the

continuance

of

the

investment

management

agreement

between

Franklin

Advisers,

Inc.

(Manager)

and

the

Fund

(Management

Agreement)

for

an

additional

one-year

period.

The

Independent

Trustees

received

advice

from

and

met

separately

with

Independent

Trustee

counsel

to

consider

the

renewal

of

the

Management

Agreement.

In

considering

the

continuance

of

the

Management

Agreement,

the

Board

reviewed

and

considered

information

provided

by

the

Manager

at

the

Meeting

and

throughout

the

year

at

meetings

of

the

Board

and

its

committees.

The

Board

also

reviewed

and

considered

information

provided

in

response

to

a

detailed

set

of

requests

for

information

submitted

to

the

Manager

by

Independent

Trustee

counsel

on

behalf

of

the

Independent

Trustees

in

connection

with

the

annual

contract

renewal

process.

In

addition,

prior

to

the

Meeting,

the

Independent

Trustees

held

a

virtual

contract

renewal

meeting

at

which

the

Independent

Trustees

first

conferred

amongst

themselves

and

Independent

Trustee

counsel

about

contract

renewal

matters,

and

then

met

with

management

to

request

additional

information

that

the

Independent

Trustees

also

considered

prior

to

and

at

the

Meeting.

The

Board

further

considered

all

of

the

factors

it

deemed

relevant

in

approving

the

continuance

of

the

Management

Agreement,

including,

but

not

limited

to:

(i)

the

nature,

extent

and

quality

of

the

services

provided

by

the

Manager;

(ii)

the

investment

performance

of

the

Fund;

(iii)

the

costs

of

the

services

provided

and

profits

realized

by

the

Manager

and

its

affiliates

from

the

relationship

with

the

Fund;

(iv)

the

extent

to

which

economies

of

scale

are

realized

as

the

Fund

grows;

and

(v)

whether

fee

levels

reflect

these

economies

of

scale

for

the

benefit

of

Fund

investors.

In

approving

the

continuance

of

the

Management

Agreement,

the

Board,

including

a

majority

of

the

Independent

Trustees,

determined,

through

the

exercise

of

its

business

judgment,

that

the

terms

of

the

Management

Agreement

are

fair

and

reasonable

and

that

the

continuance

of

the

Management

Agreement

is

in

the

best

interests

of

the

Fund

and

its

shareholders.

While

attention

was

given

to

all

information

furnished,

the

following

discusses

some

primary

factors

relevant

to

the

Board’s

determination.

Nature,

Extent

and

Quality

of

Services

The

Board

reviewed

the

information

it

received

regarding

the

nature,

extent

and

quality

of

investment

management

services

provided

by

the

Manager

and

its

affiliates

to

the

Fund

and

its

shareholders.

This

information

included,

among

other

things,

the

qualifications,

background

and

experience

of

the

senior

management

and

investment

personnel

of

the

Manager,

as

well

as

information

on

succession

planning

where

appropriate;

the

structure

of

investment

personnel

compensation;

oversight

of

third-party

service

providers;

investment

performance

reports

and

related

financial

information

for

the

Fund

(including

its

share

price

discount

to

net

asset

value);

reports

on

expenses

and

shareholder

services;

legal

and

compliance

matters;

risk

controls;

pricing

and

other

services

provided

by

the

Manager

and

its

affiliates;

and

management

fees

charged

by

the

Manager

and

its

affiliates

to

US

funds

and

other

accounts,

including

management’s

explanation

of

differences

among

accounts

where

relevant.

The

Board

acknowledged

the

ongoing

integration

of

acquired

third-party

fund

families

into

the

Franklin

Templeton

(FT)

family

of

funds

and

management’s

continued

development

of

strategies

to

address

evolving

changes

in

domestic

policy

and

continuing

geopolitical

concerns.

The

Board

noted

that,

in

2016,

it

had

authorized

an

open-market

share

repurchase

program

pursuant

to

which

the

Fund

may

purchase,

from

time

to

time,

up

to

10%

of

the

Fund’s

common

shares

in

open-market

transactions,

at

the

discretion

of

management.

The

Board

also

noted

that,

effective

January

1,

2024,

the

Board

authorized

a

managed

distribution

plan

pursuant

to

which

the

Fund

can

distribute

a

level

distribution

amount

to

shareholders.

The

Board

also

reviewed

and

considered

the

benefits

provided

to

Fund

shareholders

of

investing

in

a

fund

that

is

part

of

the

FT

family

of

funds.

The

Board

noted

the

financial

position

of

Franklin

Resources,

Inc.

(FRI),

the

Manager’s

parent,

and

its

commitment

to

the

mutual

fund

business

as

evidenced

by

its

continued

reassessment

of

the

fund

offerings

in

response

to

FT

acquisitions

and

the

market

environment,

as

well

as

its

evaluation

of

ways

to

incorporate

private

assets

into

more

traditional

investment

vehicles.

The

Board

specifically

noted

FT’s

commitment

to

technological

Franklin

Limited

Duration

Income

Trust

Shareholder

Information

140

franklintempleton.com

Semiannual

Report

innovation

and

advancement,

including

its

continued

focus

on

developing

potential

use

cases

for

tokenization

and

the

blockchain

and

the

use

of

artificial

intelligence

tools

to

help

streamline

day-to-day

tasks.

Following

consideration

of

such

information,

the

Board

was

satisfied

with

the

nature,

extent

and

quality

of

services

provided

by

the

Manager

and

its

affiliates

to

the

Fund

and

its

shareholders.

Fund

Performance

The

Board

reviewed

and

considered

the

performance

results

of

the

Fund

over

various

time

periods

ended

December

31,

2024.

The

Board

considered

the

performance

returns

for

the

Fund

in

comparison

to

the

performance

returns

of

mutual

funds

deemed

comparable

to

the

Fund

included

in

a

universe

(Performance

Universe)

selected

by

Broadridge

Financial

Solutions,

Inc.

(Broadridge),

an

independent

provider

of

investment

company

data.

The

Board

received

a

description

of

the

methodology

used

by

Broadridge

to

select

the

mutual

funds

included

in

a

Performance

Universe.

The

Board

also

reviewed

and

considered

Fund

performance

reports

provided

and

discussions

that

occurred

with

portfolio

managers

at

Board

meetings

throughout

the

year.

A

summary

of

the

Fund’s

performance

results

is

below.

Such

results

are

based

on

net

asset

value

without

regard

to

market

discounts

or

premiums.

The

Performance

Universe

for

the

Fund

included

the

Fund

and

all

leveraged

closed-end

general

bond

funds.

The

Board

noted

that

the

Fund’s

annualized

income

return

for

the

one-,

three-

and

five-year

periods

was

above

the

median

of

its

Performance

Universe,

but

for

the

10-year

period

was

below

the

median

and

in

the

third

quintile

of

its

Performance

Universe.

The

Board

also

noted

that

the

Fund’s

annualized

total

return

for

the

one-,

three-,

five-

and

10-year

periods

was

below

the

median

of

the

Fund’s

Performance

Universe.

The

Board

discussed

the

Fund’s

performance

with

management

and

management

explained

that

the

Performance

Universe

consisted

of

a

diverse

group

of

funds

invested

in

a

wide

range

of

asset

classes,

a

majority

of

which

did

not

share

the

same

limited

duration

focus

as

the

Fund.

Management

further

explained

that

mortgage-backed

securities,

which

is

one

of

the

Fund’s

core

asset

classes,

dramatically

lagged

most

other

fixed

income

sectors

adversely

impacting

the

Fund’s

annualized

total

return.

Management

also

explained

that

the

Fund’s

investment

in

marketplace

loans,

while

delivering

the

expected

income

returns,

generated

total

returns

that

trailed

those

of

broader

fixed

income

markets.

The

Board

further

noted

management’s

view

regarding

the

income-related

attributes

of

the

Fund

(e.g.,

a

fund’s

investment

objective)

as

set

forth

in

the

Fund’s

registration

statement

and

that

the

evaluation

of

the

Fund’s

performance

relative

to

its

peers

on

an

income

return

basis

was

appropriate

given

these

attributes.

The

Board

also

noted

that

the

Fund’s

one-

and

three-year

annualized

income

return

was

above

10.00%

and

in

the

second

quintile

and

first

quintile

(best),

respectively,

of

its

Performance

Universe

and

that

the

Fund’s

annualized

total

return,

although

below

the

median

of

its

Performance

Universe

for

each

period,

was

positive

for

each

period

and

7.26%

for

the

one-year

period.

The

Board

concluded

that

the

Fund’s

performance

was

satisfactory.

Comparative

Fees

and

Expenses

The

Board

reviewed

and

considered

information

regarding

the

Fund’s

actual

total

expense

ratio

and

its

various

components,

including,

as

applicable,

management

fees;

underlying

fund

expenses;

investment-related

expenses;

and

other

non-management

fees.

The

Board

considered

the

actual

total

expense

ratio

and,

separately,

the

contractual

management

fee

rate,

without

the

effect

of

fee

waivers,

if

any

(Management

Rate)

of

the

Fund

in

comparison

to

the

median

expense

ratio

and

median

Management

Rate,

respectively,

of

other

mutual

funds

deemed

comparable

to

and

with

a

similar

expense

structure

to

the

Fund

selected

by

Broadridge

(Expense

Group).

Broadridge

fee

and

expense

data

is

based

upon

information

taken

from

each

fund’s

most

recent

annual

or

semi-annual

report,

which

reflects

historical

asset

levels

that

may

be

quite

different

from

those

currently

existing,

particularly

in

a

period

of

market

volatility.

While

recognizing

such

inherent

limitation

and

the

fact

that

expense

ratios

and

Management

Rates

generally

increase

as

assets

decline

and

decrease

as

assets

grow,

the

Board

believed

the

independent

analysis

conducted

by

Broadridge

to

be

an

appropriate

measure

of

comparative

fees

and

expenses.

The

Broadridge

Management

Rate

includes

administrative

charges

(as

applicable)

and

for

comparative

consistency,

was

shown

for

the

Fund

and

for

each

other

fund

in

the

Expense

Group.

The

Board

received

a

description

of

the

methodology

used

by

Broadridge

to

select

the

mutual

funds

included

in

the

Expense

Group.

The

Expense

Group

for

the

Fund

included

the

Fund

and

seven

other

general

bond

funds.

The

Board

noted

that,

based

on

common

assets,

the

Management

Rate

was

below

the

median

of

its

Expense

Group

and

the

actual

total

expense

ratio

for

the

Fund

was

above

the

median

and

in

the

third

quintile

of

its

Expense

Group.

The

Board

discussed

the

above

median

actual

total

expense

ratio

with

management

and

management

explained

that

it

evaluates

the

Management

Rate

and

the

total

expense

ratio

based

on

common

assets

as

well

as

managed

assets

(common

and

leveraged

assets).

Management

further

explained

that

the

Fund’s

actual

total

expense

ratio

based

on

common

assets

Franklin

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Duration

Income

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Shareholder

Information

141

franklintempleton.com

Semiannual

Report

was

above

the

Expense

Group

median

due

to

the

Fund’s

above

median

non-management

expenses

that

included

fees

the

Fund

pays

for

its

investment

in

marketplace

loans.

Management

also

explained

that

the

Fund

was

the

only

fund

in

the

Expense

Group

that

invested

in

marketplace

loans

and

that

the

Fund’s

actual

total

expense

ratio

based

on

managed

assets

was

below

the

median

of

its

Expense

Group.

The

Board

concluded

that

the

Management

Rate

charged

to

the

Fund

is

reasonable.

Profitability

The

Board

reviewed

and

considered

information

regarding

the

profits

realized

by

the

Manager

and

its

affiliates

in

connection

with

the

operation

of

the

Fund.

In

this

respect,

the

Board

considered

the

Fund

profitability

analysis

provided

by

the

Manager

that

addresses

the

overall

profitability

of

FT’s

US

fund

business,

as

well

as

its

profits

in

providing

investment

management

and

other

services

to

each

of

the

individual

funds

during

the

12-month

period

ended

September

30,

2024,

being

the

most

recent

fiscal

year-

end

for

FRI.

The

Board

noted

that

although

management

continually

makes

refinements

to

its

methodologies

used

in

calculating

profitability

in

response

to

organizational

and

product-related

changes,

the

overall

methodology

has

remained

consistent

with

that

used

in

the

Fund’s

profitability

report

presentations

from

prior

years.

The

Board

also

noted

that

an

independent

registered

public

accounting

firm

has

been

engaged

by

the

Manager

to

periodically

review

and

assess

the

allocation

methodologies

to

be

used

solely

by

the

Fund’s

Board

with

respect

to

the

profitability

analysis.

The

Board

noted

management’s

belief

that

costs

incurred

in

establishing

the

infrastructure

necessary

for

the

type

of

mutual

fund

operations

conducted

by

the

Manager

and

its

affiliates

may

not

be

fully

reflected

in

the

expenses

allocated

to

the

Fund

in

determining

its

profitability,

as

well

as

the

fact

that

the

level

of

profits,

to

a

certain

extent,

reflected

operational

cost

savings

and

efficiencies

initiated

by

management.

As

part

of

this

evaluation,

the

Board

considered

management’s

outsourcing

of

certain

operations,

which

effort

has

required

considerable

up-front

expenditures

by

the

Manager,

but

over

the

long

run

is

expected

to

result

in

greater

efficiencies.

The

Board

also

noted

management’s

expenditures

in

improving

shareholder

services

provided

to

the

Fund,

as

well

as

the

need

to

implement

systems

and

meet

additional

regulatory

and

compliance

requirements

resulting

from

recent

US

Securities

and

Exchange

Commission

and

other

regulatory

requirements.

The

Board

also

considered

the

extent

to

which

the

Manager

and

its

affiliates

might

derive

ancillary

benefits

from

fund

operations,

potential

benefits

resulting

from

personnel

and

systems

enhancements

necessitated

by

fund

growth,

as

well

as

increased

leverage

with

service

providers

and

counterparties.

Based

upon

its

consideration

of

all

these

factors,

the

Board

concluded

that

the

level

of

profits

realized

by

the

Manager

and

its

affiliates

from

providing

services

to

the

Fund

was

not

excessive

in

view

of

the

nature,

extent

and

quality

of

services

provided

to

the

Fund.

Economies

of

Scale

The

Board

reviewed

and

considered

the

extent

to

which

the

Manager

may

realize

economies

of

scale,

if

any,

as

the

Fund

grows

larger

and

whether

the

Fund’s

management

fee

structure

reflects

any

economies

of

scale

for

the

benefit

of

shareholders.

The

Board

believes

that

the

Manager’s

ability

to

realize

economies

of

scale

and

the

sharing

of

such

benefit

is

a

more

relevant

consideration

in

the

case

of

an

open-end

fund

whose

size

increases

as

a

result

of

the

continuous

sale

of

its

shares.

A

closed-end

fund,

such

as

the

Fund,

does

not

continuously

offer

shares,

and

growth

following

its

initial

public

offering

will

primarily

result

from

market

appreciation,

which

benefits

its

shareholders.

While

believing

economies

of

scale

to

be

less

of

a

factor

in

the

context

of

a

closed-end

fund,

the

Board

believes

at

some

point

an

increase

in

size

may

lead

to

economies

of

scale

that

would

be

shared

with

the

Fund

and

its

shareholders

and

intends

to

monitor

future

growth

of

the

Fund

accordingly.

The

Board

considered

the

Manager’s

view

that

any

analyses

of

potential

economies

of

scale

in

managing

a

particular

fund

are

inherently

limited

in

light

of

the

joint

and

common

costs

and

investments

the

Manager

incurs

across

the

FT

family

of

funds

as

a

whole.

Conclusion

Based

on

its

review,

consideration

and

evaluation

of

all

factors

it

believed

relevant,

including

the

above-described

factors

and

conclusions,

the

Board

unanimously

approved

the

continuance

of

the

Management

Agreement

for

an

additional

one-year

period.

Proxy

Voting

Policies

and

Procedures

The

Fund’s

investment

manager

has

established

Proxy

Voting

Policies

and

Procedures

(Policies)

that

the

Fund

uses

to

determine

how

to

vote

proxies

relating

to

portfolio

securities.

Shareholders

may

view

the

Fund’s

complete

Policies

online

at

franklintempleton.com.

Alternatively,

shareholders

may

request

copies

of

the

Policies

free

of

charge

by

calling

the

Proxy

Group

collect

at

(954)

527-

7678

or

by

sending

a

written

request

to:

Franklin

Templeton

Companies,

LLC,

300

S.E.

2nd

Street,

Fort

Lauderdale,

FL

33301,

Attention:

Proxy

Group.

Copies

of

the

Fund’s

proxy

voting

records

are

also

made

available

online

at

franklintempleton.com

and

posted

on

the

U.S.

Securities

and

Exchange

Commission’s

website

at

sec.gov

and

reflect

the

most

recent

12-month

period

ended

June

30.

Franklin

Limited

Duration

Income

Trust

Shareholder

Information

142

franklintempleton.com

Semiannual

Report

Quarterly

Schedule

of

Investments

The

Fund

files

a

complete

consolidated

schedule

of

investments

with

the

U.S.

Securities

and

Exchange

Commission

for

the

first

and

third

quarters

for

each

fiscal

year

as

an

exhibit

to

its

report

on

Form

N-PORT.

Shareholders

may

view

the

filed

Form

N-PORT

by

visiting

the

Commission’s

website

at

sec.gov.

The

filed

form

may

also

be

viewed

and

copied

at

the

Commission’s

Public

Reference

Room

in

Washington,

DC.

Information

regarding

the

operations

of

the

Public

Reference

Room

may

be

obtained

by

calling

(800)

SEC-0330.

FTF

S

08/25

©

2025

Franklin

Templeton

Investments.

All

rights

reserved.

To

help

ensure

we

provide

you

with

quality

service,

all

calls

to

and

from

our

service

areas

are

monitored

and/or

recorded.

Semiannual

Report

Franklin

Limited

Duration

Income

Trust

Investment

Manager

Transfer

Agent

Franklin

Advisers,

Inc.

(800)

DIAL

BEN

®

/

342-5236

Equiniti

Trust

Company,

LLC

6201

15th

Avenue

Brooklyn,

NY

11219

www.equiniti.com

(b) Not applicable

ITEM 2. CODE OF ETHICS.

Not applicable.

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

Not applicable.

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

Not applicable.

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

Not applicable.

ITEM 6. SCHEDULE OF INVESTMENTS.

(a) Please see schedule of investments contained in the Financial Statements and Financial Highlights included under Item 1 of this Form N-CSR.

(b) Not applicable

ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 9. PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.

The information is disclosed as part of the Financial Statements included in Item 1 of this Form N-CSR, as applicable.

ITEM 12. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 13. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

ITEM 15. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

There have been no changes to the procedures by which shareholders may recommend nominees to the Registrant’s Board of Trustees that would require disclosure herein.

ITEM 16. CONTROLS AND PROCEDURES.

(a) The Registrant’s chief executive officer and chief financial officer have concluded that the Registrant’s disclosure controls and procedures (as defined in Rule 30a- 3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the disclosure controls and procedures required by Rule 30a-3(b) under the 1940 Act and 15d-15(b) under the Securities Exchange Act of 1934.

(b) There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the period covered by this report that have materially affected, or are likely to materially affect the Registrant’s internal control over financial reporting.

ITEM 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Company.

Not applicable.

ITEM 18. RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION.

(a) Not applicable.

(b) Not applicable.

ITEM 19. EXHIBITS.

(a) (1) Not applicable.

Exhibit 99.CODE ETH

(a) (2) Certifications pursuant to section 302 of the Sarbanes-Oxley Act of 2002 attached hereto.

Exhibit 99.CERT

(b) Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 attached hereto.

Exhibit 99.906CERT

(c) Pursuant to the Securities and Exchange Commission’s Order granting relief from Section 19(b) of the Investment Company Act of 1940, the 19(a) Notices to Beneficial Owners are attached hereto as Exhibit

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this Report to be signed on its behalf by the undersigned, there unto duly authorized.

Franklin Limited Duration Income Trust

By:	/s/ Christopher Kings
	Christopher Kings
	Chief Executive Officer – Finance and Administration

Date: August 26, 2025

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:	/s/ Christopher Kings
	Christopher Kings
	Chief Executive Officer – Finance and Administration

Date: August 26, 2025

By:	/s/ Jeffrey White
	Jeffrey White
	Chief Financial Officer, Chief Accounting Officer and Treasurer

Date: August 26, 2025