NPORT-EX 2 TF.htm
Not
FDIC
Insured
May
Lose
Value
No
Bank
Guarantee
TF-Q1PH
1
Schedules
of
Investments
(unaudited)
Templeton
Foreign
Fund
2
Templeton
World
Fund
5
Notes
to
Schedules
of
Investments
8
Templeton
Funds
Schedule
of
Investments
(unaudited),
November
30,
2025
Templeton
Foreign
Fund
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
2
a
a
Industry
Shares
a
Value
a
Common
Stocks
94.9%
China
6.3%
a
Alibaba
Group
Holding
Ltd.
.........
Broadline
Retail
4,634,725
$
91,187,331
Tencent
Holdings
Ltd.
.............
Interactive
Media
&
Services
833,937
65,890,649
157,077,980
Denmark
1.7%
Novo
Nordisk
A/S
,
B
..............
Pharmaceuticals
877,179
43,440,442
France
7.4%
Carrefour
SA
....................
Consumer
Staples
Distribution
&
Retail
7,128,079
109,761,920
Dassault
Aviation
SA
..............
Aerospace
&
Defense
166,989
52,525,727
Kering
SA
......................
Textiles,
Apparel
&
Luxury
Goods
70,368
23,963,190
186,250,837
Hong
Kong
4.2%
AIA
Group
Ltd.
..................
Insurance
2,768,066
28,831,845
Prudential
plc
...................
Insurance
5,318,469
77,060,550
105,892,395
India
3.0%
HDFC
Bank
Ltd.
.................
Banks
6,651,352
75,160,664
Japan
5.3%
Sumitomo
Mitsui
Financial
Group,
Inc.
.
Banks
2,434,197
73,655,158
Toyota
Motor
Corp.
...............
Automobiles
2,948,270
59,472,027
133,127,185
Netherlands
8.3%
Akzo
Nobel
NV
..................
Chemicals
808,055
52,530,382
ASM
International
NV
.............
Semiconductors
&
Semiconductor
Equipment
68,000
37,616,143
Heineken
NV
...................
Beverages
672,620
54,866,419
ING
Groep
NV
..................
Banks
2,426,396
62,913,988
207,926,932
Poland
0.8%
b
InPost
SA
......................
Air
Freight
&
Logistics
1,624,610
19,076,260
Portugal
2.1%
Galp
Energia
SGPS
SA
,
B
.........
Oil,
Gas
&
Consumable
Fuels
2,669,290
53,661,514
Singapore
2.1%
STMicroelectronics
NV
............
Semiconductors
&
Semiconductor
Equipment
2,269,625
52,284,512
South
Korea
3.2%
Samsung
Electronics
Co.
Ltd.
.......
Technology
Hardware,
Storage
&
Peripherals
1,172,664
80,541,919
Sweden
1.6%
Securitas
AB
,
B
..................
Commercial
Services
&
Supplies
2,629,495
40,115,047
Switzerland
6.6%
Adecco
Group
AG
................
Professional
Services
1,732,008
48,417,166
a
Barry
Callebaut
AG
...............
Food
Products
33,510
53,807,981
UBS
Group
AG
..................
Capital
Markets
1,668,790
64,405,993
166,631,140
Taiwan
3.8%
Taiwan
Semiconductor
Manufacturing
Co.
Ltd.
......................
Semiconductors
&
Semiconductor
Equipment
2,067,724
95,335,273
United
Kingdom
21.1%
AstraZeneca
plc
.................
Pharmaceuticals
493,798
91,554,579
Templeton
Funds
Schedule
of
Investments
(unaudited)
Templeton
Foreign
Fund
(continued)
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
3
a
a
Industry
Shares
a
Value
a
Common
Stocks
(continued)
United
Kingdom
(continued)
Barratt
Redrow
plc
...............
Household
Durables
9,824,149
$
51,327,924
JD
Sports
Fashion
plc
.............
Specialty
Retail
53,931,830
55,232,408
Persimmon
plc
..................
Household
Durables
3,060,417
54,120,528
SSE
plc
.......................
Electric
Utilities
3,322,553
96,664,890
Standard
Chartered
plc
............
Banks
3,136,466
69,471,616
Unilever
plc
.....................
Personal
Care
Products
1,173,010
70,577,469
b
Verisure
plc
.....................
Commercial
Services
&
Supplies
2,210,490
42,377,973
531,327,387
United
States
17.4%
BP
plc
.........................
Oil,
Gas
&
Consumable
Fuels
16,605,986
99,729,679
CNH
Industrial
NV
................
Machinery
7,713,078
72,734,326
b
ICON
plc
.......................
Life
Sciences
Tools
&
Services
256,658
47,481,730
ManpowerGroup,
Inc.
.............
Professional
Services
816,874
23,493,296
Sanofi
SA
......................
Pharmaceuticals
662,103
66,036,470
Shell
plc
.......................
Oil,
Gas
&
Consumable
Fuels
1,736,681
63,824,633
Smurfit
WestRock
plc
.............
Containers
&
Packaging
1,821,480
65,008,621
438,308,755
Total
Common
Stocks
(Cost
$
1,918,791,027
)
....................................
2,386,158,242
Short
Term
Investments
6.3%
a
a
Industry
Principal
Amount
*
a
Value
a
a
a
a
a
a
Time
Deposits
5.1%
Canada
4.7%
Bank
of
Montreal
,
4
%
,
12/01/25
......
48,800,000
48,800,000
National
Bank
of
Canada
,
3.83
%
,
12/01/25
.....................
67,300,000
67,300,000
Royal
Bank
of
Canada
,
3.8
%
,
12/01/25
1,600,000
1,600,000
117,700,000
France
0.4%
Credit
Agricole
Corporate
and
Investment
Bank
SA
,
3.82
%
,
12/01/25
10,000,000
10,000,000
Total
Time
Deposits
(Cost
$
127,700,000
)
.......................................
127,700,000
Shares
Investments
from
Cash
Collateral
Received
for
Loaned
Securities
1.2%
Money
Market
Funds
1.2%
c,d
Franklin
Institutional
U.S.
Government
Money
Market
Fund
,
3.922
%
......
31,427,879
31,427,879
Total
Investments
from
Cash
Collateral
Received
for
Loaned
Securities
(Cost
$
31,427,879
)
................................................................
31,427,879
a
a
a
a
a
Total
Short
Term
Investments
(Cost
$
159,127,879
)
...............................
159,127,879
a
a
a
Total
Investments
(Cost
$
2,077,918,906
)
101.2
%
................................
$2,545,286,121
Other
Assets,
less
Liabilities
(
1.2
)
%
...........................................
(30,894,277)
Net
Assets
100.0%
...........................................................
$2,514,391,844
a
a
a
Templeton
Funds
Schedule
of
Investments
(unaudited)
Templeton
Foreign
Fund
(continued)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
4
*
The
principal
amount
is
stated
in
U.S.
dollars
unless
otherwise
indicated.
a
A
portion
or
all
of
the
security
is
on
loan
at
November
30,
2025.
b
Non-income
producing.
c
See
Note
3
regarding
investments
in
affiliated
management
investment
companies.
d
The
rate
shown
is
the
annualized
seven-day
effective
yield
at
period
end.
Templeton
Funds
Schedule
of
Investments
(unaudited),
November
30,
2025
Templeton
World
Fund
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
5
a
a
Industry
Shares
a
Value
a
Common
Stocks
97.4%
China
1.9%
Tencent
Holdings
Ltd.
.............
Interactive
Media
&
Services
678,252
$
53,589,737
France
10.5%
Airbus
SE
......................
Aerospace
&
Defense
382,931
90,062,470
LVMH
Moet
Hennessy
Louis
Vuitton
SE
Textiles,
Apparel
&
Luxury
Goods
71,962
53,188,807
Safran
SA
......................
Aerospace
&
Defense
313,094
105,250,229
Vinci
SA
.......................
Construction
&
Engineering
379,839
53,903,679
302,405,185
Germany
3.9%
SAP
SE
.......................
Software
285,035
68,810,312
a
Siemens
Energy
AG
..............
Electrical
Equipment
319,430
42,772,421
111,582,733
Hong
Kong
1.2%
AIA
Group
Ltd.
..................
Insurance
3,217,210
33,510,075
India
1.9%
HDFC
Bank
Ltd.
.................
Banks
4,823,027
54,500,485
Japan
1.8%
Keyence
Corp.
..................
Electronic
Equipment,
Instruments
&
Components
79,930
27,208,931
Mizuho
Financial
Group,
Inc.
........
Banks
730,209
25,752,195
52,961,126
Netherlands
5.1%
ASM
International
NV
.............
Semiconductors
&
Semiconductor
Equipment
69,226
38,294,340
ASML
Holding
NV
................
Semiconductors
&
Semiconductor
Equipment
39,675
41,962,405
ING
Groep
NV
..................
Banks
1,002,247
25,987,248
Universal
Music
Group
NV
.........
Entertainment
1,647,069
42,325,880
148,569,873
Singapore
1.1%
a
Sea
Ltd.
,
ADR
...................
Broadline
Retail
224,898
31,263,071
Taiwan
6.8%
Taiwan
Semiconductor
Manufacturing
Co.
Ltd.
......................
Semiconductors
&
Semiconductor
Equipment
2,696,953
124,346,745
Taiwan
Semiconductor
Manufacturing
Co.
Ltd.
,
ADR
..................
Semiconductors
&
Semiconductor
Equipment
140,944
41,086,586
Wiwynn
Corp.
...................
Technology
Hardware,
Storage
&
Peripherals
217,037
31,711,190
197,144,521
United
Kingdom
7.7%
AstraZeneca
plc
.................
Pharmaceuticals
311,640
57,780,852
Rolls-Royce
Holdings
plc
..........
Aerospace
&
Defense
6,577,346
92,834,431
SSE
plc
.......................
Electric
Utilities
2,431,584
70,743,431
221,358,714
United
States
55.5%
Alcon
AG
......................
Health
Care
Equipment
&
Supplies
344,458
27,458,868
Alphabet,
Inc.
,
A
.................
Interactive
Media
&
Services
441,279
141,288,710
a
Amazon.com,
Inc.
................
Broadline
Retail
494,404
115,304,901
Apple,
Inc.
.....................
Technology
Hardware,
Storage
&
Peripherals
253,447
70,673,696
Broadcom,
Inc.
..................
Semiconductors
&
Semiconductor
Equipment
141,410
56,982,574
Charles
Schwab
Corp.
(The)
........
Capital
Markets
311,023
28,841,163
CRH
plc
.......................
Construction
Materials
622,955
74,729,682
Eli
Lilly
&
Co.
...................
Pharmaceuticals
65,680
70,636,870
Templeton
Funds
Schedule
of
Investments
(unaudited)
Templeton
World
Fund
(continued)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
6
a
a
Industry
Shares
a
Value
a
Common
Stocks
(continued)
United
States
(continued)
Ferguson
Enterprises,
Inc.
.........
Trading
Companies
&
Distributors
298,473
$
75,116,700
HCA
Healthcare,
Inc.
..............
Health
Care
Providers
&
Services
101,598
51,641,247
a
ICON
plc
.......................
Life
Sciences
Tools
&
Services
387,228
71,637,180
Intuit,
Inc.
......................
Software
53,142
33,696,279
KeyCorp
.......................
Banks
1,003,245
18,439,643
Meta
Platforms,
Inc.
,
A
............
Interactive
Media
&
Services
88,425
57,294,979
Microsoft
Corp.
..................
Software
367,744
180,933,725
a
MongoDB,
Inc.
,
A
................
IT
Services
128,657
42,761,727
NIKE,
Inc.
,
B
....................
Textiles,
Apparel
&
Luxury
Goods
724,800
46,843,824
NVIDIA
Corp.
...................
Semiconductors
&
Semiconductor
Equipment
910,635
161,182,395
Salesforce,
Inc.
..................
Software
118,114
27,230,001
Schneider
Electric
SE
.............
Electrical
Equipment
224,925
60,528,593
Thermo
Fisher
Scientific,
Inc.
.......
Life
Sciences
Tools
&
Services
92,095
54,412,489
UnitedHealth
Group,
Inc.
...........
Health
Care
Providers
&
Services
125,156
41,272,694
b
Visa,
Inc.
,
A
.....................
Financial
Services
130,612
43,681,877
Wells
Fargo
&
Co.
................
Banks
511,569
43,918,199
1,596,508,016
Total
Common
Stocks
(Cost
$
2,032,451,624
)
....................................
2,803,393,536
Short
Term
Investments
3.9%
a
a
Industry
Principal
Amount
*
a
Value
a
a
a
a
a
a
Time
Deposits
3.4%
Canada
2.7%
Bank
of
Montreal
,
4
%
,
12/01/25
......
30,000,000
30,000,000
National
Bank
of
Canada
,
3.83
%
,
12/01/25
.....................
12,000,000
12,000,000
Royal
Bank
of
Canada
,
3.8
%
,
12/01/25
36,200,000
36,200,000
78,200,000
France
0.7%
Credit
Agricole
Corporate
and
Investment
Bank
SA
,
3.82
%
,
12/01/25
20,000,000
20,000,000
Total
Time
Deposits
(Cost
$
98,200,000
)
........................................
98,200,000
Shares
Investments
from
Cash
Collateral
Received
for
Loaned
Securities
0.5%
Money
Market
Funds
0.5%
c,d
Franklin
Institutional
U.S.
Government
Money
Market
Fund
,
3.922
%
......
12,939,000
12,939,000
Total
Investments
from
Cash
Collateral
Received
for
Loaned
Securities
(Cost
$
12,939,000
)
................................................................
12,939,000
a
a
a
a
a
Total
Short
Term
Investments
(Cost
$
111,139,000
)
...............................
111,139,000
a
a
a
Total
Investments
(Cost
$
2,143,590,624
)
101.3
%
................................
$2,914,532,536
Other
Assets,
less
Liabilities
(
1.3
)
%
...........................................
(36,269,996)
Net
Assets
100.0%
...........................................................
$2,878,262,540
a
a
a
Templeton
Funds
Schedule
of
Investments
(unaudited)
Templeton
World
Fund
(continued)
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
7
See
Abbreviations
on
page
11
.
*
The
principal
amount
is
stated
in
U.S.
dollars
unless
otherwise
indicated.
a
Non-income
producing.
b
A
portion
or
all
of
the
security
is
on
loan
at
November
30,
2025.
c
See
Note
3
regarding
investments
in
affiliated
management
investment
companies.
d
The
rate
shown
is
the
annualized
seven-day
effective
yield
at
period
end.
Templeton
Funds
Notes
to
Schedules
of
Investments
(unaudited)
8
Quarterly
Schedules
of
Investments
1.
Organization
Templeton
Funds (Trust)
is
registered
under
the
Investment
Company
Act
of
1940
(1940
Act)
as
an
open-end
management
investment
company,
consisting
of two separate
funds
(Funds).
The
Funds
follow
the accounting
and
reporting
guidance
in
Financial
Accounting
Standards
Board
(FASB)
Accounting
Standards
Codification
Topic
946,
Financial
Services
–
Investment
Companies
(ASC
946)
and
apply
the
specialized
accounting
and
reporting
guidance
in
U.S.
Generally
Accepted
Accounting
Principles
(U.S.
GAAP),
including,
but
not
limited
to,
ASC
946.
2. Financial
Instrument
Valuation
The
Funds’
investments
in
financial
instruments
are
carried
at
fair
value
daily.
Fair
value
is
the
price
that
would
be
received
to
sell
an
asset
or
paid
to
transfer
a
liability
in
an
orderly
transaction
between
market
participants
on
the
measurement
date.
The
Funds
calculate
the
net
asset
value
(NAV)
per
share
each
business
day
as
of
4
p.m.
Eastern
time
or
the
regularly
scheduled
close
of
the
New
York
Stock
Exchange
(NYSE),
whichever
is
earlier.
Under
compliance
policies
and
procedures
approved
by
the
Trust’s
Board
of
Trustees
(the
Board),
the
Board
has
designated
the
Funds'
investment
manager
as
the
valuation
designee
and
has
responsibility
for
oversight
of
valuation.
The
investment
manager
is
assisted
by
the
Funds'
administrator
in
performing
this
responsibility,
including
leading
the
cross-functional
Valuation
Committee
(VC).
The
Funds
may
utilize
independent
pricing
services,
quotations
from
securities
and
financial
instrument
dealers,
and
other
market
sources
to
determine
fair
value. 
Equity
securities
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.
Investments
in
open-end
mutual
funds
are
valued
at
the
closing
NAV.
Investments
in
time
deposits
are
valued
at
cost,
which
approximates
fair
value.
The
Funds
have procedures
to
determine
the
fair
value
of
financial
instruments
for
which
market
prices
are
not
reliable
or
readily
available.
Under
these
procedures,
the
Funds
primarily employ
a
market-based
approach
which
may
use
related
or
comparable
assets
or
liabilities,
recent
transactions,
market
multiples,
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
Funds’
business
day.
Events
can
occur
between
the
time
at
which
trading
in
a
foreign
security
is
completed
and
4
p.m.
Eastern
time
that
might
call
into
question
the
reliability
of
the
value
of
a
portfolio
security
held
by
the
Fund.
As
a
result,
differences
may
arise
between
the
value
of
the
Funds’
portfolio
securities
as
determined
at
the
foreign
market
close
and
the
latest
indications
of
value
at
4
p.m.
Eastern
time.
In
order
to
minimize
the
potential
for
these
differences,
an
independent
pricing
service
may
be
used
to
adjust
the
value
of
the
Funds'
portfolio
securities
to
the
latest
indications
of
fair
value
at
4
p.m.
Eastern
time.
At
November
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.
Templeton
Funds
Notes
to
Schedules
of
Investments
(unaudited)
9
Quarterly
Schedules
of
Investments
When
the
last
day
of
the
reporting
period
is
a
non-business
day,
certain
foreign
markets
may
be
open
on
those
days
that
the
Funds’
NAV
is
not
calculated,
which
could
result
in
differences
between
the
value
of
the
Funds’
portfolio
securities
on
the
last
business
day
and
the
last
calendar
day
of
the
reporting
period.
Any
security
valuation
changes
due
to
an
open
foreign
market
are
adjusted
and
reflected
by
the
Funds
for
financial
reporting
purposes.
3.
Investments
in
Affiliated
Management
Investment
Companies
Certain
or
all
Funds
invest
in
one
or
more
affiliated
management
investment
companies.
As
defined
in
the
1940
Act,
an
investment
is
deemed
to
be
a
“Controlled
Affiliate”
of
a
fund
when
a
fund
owns,
either
directly
or
indirectly,
25%
or
more
of
the
affiliated
fund’s
outstanding
shares
or
has
the
power
to
exercise
control
over
management
or
policies
of
such
fund.
The
Funds
do
not
invest
for
purposes
of
exercising
a
controlling
influence
over
the
management
or
policies.
During
the
period
ended
November
30,
2025,
investments
in
affiliated
management
investment
companies
were
as
follows: 
4. Fair
Value
Measurements
The
Funds
follow
a
fair
value
hierarchy
that
distinguishes
between
market
data
obtained
from
independent
sources
(observable
inputs)
and
the
Funds'
own
market
assumptions
(unobservable
inputs).
These
inputs
are
used
in
determining
the
value
of
the
Funds’
financial
instruments
and
are
summarized
in
the
following
fair
value
hierarchy:
Level
1
–
quoted
prices
in
active
markets
for
identical
financial
instruments
Level
2
–
other
significant
observable
inputs
(including
quoted
prices
for
similar
financial
instruments,
interest
rates,
prepayment
speed,
credit
risk,
etc.)
Level
3
–
significant
unobservable
inputs
(including
the
Funds'
own
assumptions
in
determining
the
fair
value
of
financial
instruments)
    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  
Templeton
Foreign
Fund
Non-Controlled
Affiliates
Income
from
securities
loaned
Franklin
Institutional
U.S.
Government
Money
Market
Fund
,
3.922
%
............
$—
$116,464,421
$(85,036,542)
$—
$—
$31,427,879
31,427,879
$126,104
Total
Affiliated
Securities
...
$—
$116,464,421
$(85,036,542)
$—
$—
$31,427,879
$126,104
Templeton
World
Fund
Non-Controlled
Affiliates
Income
from
securities
loaned
Franklin
Institutional
U.S.
Government
Money
Market
Fund
,
3.922
%
............
$—
$86,022,829
$(73,083,829)
$—
$—
$12,939,000
12,939,000
$17,870
Total
Affiliated
Securities
...
$—
$86,022,829
$(73,083,829)
$—
$—
$12,939,000
$17,870
2. Financial
Instrument
Valuation
(continued)
Templeton
Funds
Notes
to
Schedules
of
Investments
(unaudited)
10
Quarterly
Schedules
of
Investments
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
November
30,
2025,
in
valuing
the
Funds’
assets
carried
at
fair
value,
is
as
follows:  
Level
1
Level
2
Level
3
Total
Templeton
Foreign
Fund
Assets:
Investments
in
Securities:
Common
Stocks
:
China
...............................
$
—
$
157,077,980
$
—
$
157,077,980
Denmark
.............................
—
43,440,442
—
43,440,442
France
...............................
—
186,250,837
—
186,250,837
Hong
Kong
...........................
—
105,892,395
—
105,892,395
India
................................
—
75,160,664
—
75,160,664
Japan
...............................
—
133,127,185
—
133,127,185
Netherlands
...........................
—
207,926,932
—
207,926,932
Poland
...............................
—
19,076,260
—
19,076,260
Portugal
..............................
—
53,661,514
—
53,661,514
Singapore
............................
—
52,284,512
—
52,284,512
South
Korea
..........................
—
80,541,919
—
80,541,919
Sweden
..............................
—
40,115,047
—
40,115,047
Switzerland
...........................
—
166,631,140
—
166,631,140
Taiwan
...............................
—
95,335,273
—
95,335,273
United
Kingdom
........................
42,377,973
488,949,414
—
531,327,387
United
States
..........................
208,717,973
229,590,782
—
438,308,755
Short
Term
Investments
...................
31,427,879
127,700,000
—
159,127,879
Total
Investments
in
Securities
...........
$282,523,825
$2,262,762,296
a
$—
$2,545,286,121
Templeton
World
Fund
Assets:
Investments
in
Securities:
Common
Stocks
:
China
...............................
—
53,589,737
—
53,589,737
France
...............................
—
302,405,185
—
302,405,185
Germany
.............................
—
111,582,733
—
111,582,733
Hong
Kong
...........................
—
33,510,075
—
33,510,075
India
................................
—
54,500,485
—
54,500,485
Japan
...............................
—
52,961,126
—
52,961,126
Netherlands
...........................
—
148,569,873
—
148,569,873
Singapore
............................
31,263,071
—
—
31,263,071
Taiwan
...............................
41,086,586
156,057,935
—
197,144,521
United
Kingdom
........................
—
221,358,714
—
221,358,714
United
States
..........................
1,508,520,555
87,987,461
—
1,596,508,016
Short
Term
Investments
...................
12,939,000
98,200,000
—
111,139,000
Total
Investments
in
Securities
...........
$1,593,809,212
$1,320,723,324
b
$—
$2,914,532,536
a
Includes
foreign
securities
valued
at
$2,135,062,296,
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.
b
Includes
foreign
securities
valued
at
$1,222,523,324,
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.
4. Fair
Value
Measurements
(continued)
Templeton
Funds
Notes
to
Schedules
of
Investments
(unaudited)
11
Quarterly
Schedules
of
Investments
Abbreviations
Selected
Portfolio
ADR
American
Depositary
Receipt
For
additional
information
on
the
Funds'
significant
accounting
policies,
please
refer
to
the Funds'
most
recent
semiannual
or
annual
shareholder
report.