N-Q 1 tit-nq_1109.txt TEMPLETON INCOME TRUST NQ 11/09 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number 811-04706 ---------- TEMPLETON INCOME TRUST ----------------------------- (Exact name of registrant as specified in charter) 500 EAST BROWARD BLVD., SUITE 2100, FORT LAUDERDALE, FL 33394-3091 --------------------------------------------------------------------- (Address of principal executive offices) (Zip code) CRAIG S. TYLE, ONE FRANKLIN PARKWAY, SAN MATEO, CA 94403-1906 --------------------------------------------------------------- (Name and address of agent for service) Registrant's telephone number, including area code: (954) 527-7500 --------------- Date of fiscal year end: 8/31 --------- Date of reporting period: 11/30/09 ---------- ITEM 1. SCHEDULE OF INVESTMENTS. Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED)
PRINCIPAL(a) TEMPLETON GLOBAL BOND FUND AMOUNT VALUE -------------------------- ----------------- --------------- BONDS 88.3% ARGENTINA 1.5% (b, c) Government of Argentina, senior bond, FRN, 0.943%, 8/03/12 1,079,370,000 $ 340,541,235 --------------- AUSTRALIA 5.6% (d) Government of Australia, TB123, 5.75%, 4/15/12 250,445,000 AUD 235,271,729 New South Wales Treasury Corp., senior note, 5.50%, 3/01/17 312,478,000 AUD 280,959,376 Queensland Treasury Corp., 11, 6.00%, 6/14/11 274,230,000 AUD 256,126,857 13, 6.00%, 8/14/13 337,046,000 AUD 315,777,076 17, 6.00%, 9/14/17 66,390,000 AUD 61,475,568 (e) 144A, 7.125%, 9/18/17 193,260,000 NZD 145,921,209 --------------- 1,295,531,815 --------------- BRAZIL 4.6% Nota Do Tesouro Nacional, 9.609%, 1/01/12 684,610(f) BRL 377,730,856 9.609%, 1/01/14 78,500(f) BRL 40,930,682 9.609%, 1/01/17 349,070(f) BRL 170,347,515 (g) Index Linked, 6.00%, 5/15/11 21,945(f) BRL 23,358,769 (g) Index Linked, 6.00%, 5/15/15 318,270(f) BRL 325,115,901 (g) Index Linked, 6.00%, 5/15/45 131,725(f) BRL 128,647,197 --------------- 1,066,130,920 --------------- CANADA 0.1% Province of Manitoba, 6.375%, 9/01/15 25,200,000 NZD 18,199,513 Province of Ontario, 6.25%, 6/16/15 10,115,000 NZD 7,425,077 --------------- 25,624,590 --------------- GERMANY 2.4% KfW Bankengruppe, 4.66%, 1/05/12 2,452,000,000 NOK 449,928,504 senior note, 18.50%, 2/11/10 629,500,000 EGP 117,463,757 --------------- 567,392,261 --------------- HUNGARY 1.5% Government of Hungary, 3.50%, 7/18/16 11,765,000 EUR 16,445,692 4.375%, 7/04/17 50,450,000 EUR 73,626,664 5.75%, 6/11/18 141,160,000 EUR 219,605,732 senior note, 3.875%, 2/24/20 36,045,000 EUR 47,730,752 --------------- 357,408,840 --------------- INDONESIA 7.3% Government of Indonesia, FR10, 13.15%, 3/15/10 33,650,000,000 IDR 3,626,585 FR13, 15.425%, 9/15/10 23,800,000,000 IDR 2,693,389 FR19, 14.25%, 6/15/13 194,977,000,000 IDR 24,024,130 FR20, 14.275%, 12/15/13 301,008,000,000 IDR 37,486,724 FR23, 11.00%, 12/15/12 8,700,000,000 IDR 987,319 FR25, 10.00%, 10/15/11 12,660,000,000 IDR 1,385,838 FR26, 11.00%, 10/15/14 145,580,000,000 IDR 16,551,936 FR27, 9.50%, 6/15/15 55,210,000,000 IDR 5,912,229 FR28, 10.00%, 7/15/17 104,700,000,000 IDR 11,211,925 FR30, 10.75%, 5/15/16 185,655,000,000 IDR 20,862,869 (d) FR31, 11.00%, 11/15/20 702,507,000,000 IDR 77,457,790 FR32, 15.00%, 7/15/18 1,150,000,000 IDR 156,597 (d) FR34, 12.80%, 6/15/21 1,505,113,000,000 IDR 183,860,992 FR35, 12.90%, 6/15/22 681,272,000,000 IDR 83,402,681 (d) FR36, 11.50%, 9/15/19 401,590,000,000 IDR 45,977,919 FR37, 12.00%, 9/15/26 66,550,000,000 IDR 7,689,673 FR39, 11.75%, 8/15/23 457,645,000,000 IDR 51,790,586 FR40, 11.00%, 9/15/25 654,060,000,000 IDR 70,213,733 FR42, 10.25%, 7/15/27 818,390,000,000 IDR 82,661,318 FR43, 10.25%, 7/15/22 227,455,000,000 IDR 23,395,021
Quarterly Statement of Investments See Notes to Statements of Investments Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) FR44, 10.00%, 9/15/24 197,824,000,000 IDR $ 19,771,935 FR46, 9.50%, 7/15/23 2,563,120,000,000 IDR 247,366,199 FR47, 10.00%, 2/15/28 1,854,867,000,000 IDR 182,936,443 FR48, 9.00%, 9/15/18 341,640,000,000 IDR 33,965,268 FR49, 9.00%, 9/15/13 369,360,000,000 IDR 39,260,382 FR52, 10.50%, 8/15/30 896,704,000,000 IDR 91,282,674 (e) senior bond, 144A, 8.50%, 10/12/35 27,683,000 32,700,544 (e) senior bond, 144A, 6.625%, 2/17/37 19,820,000 19,284,860 (e) senior bond, 144A, 7.75%, 1/17/38 65,910,000 71,710,080 (h) senior bond, Reg S, 8.50%, 10/12/35 53,765,000 63,509,906 (h) senior bond, Reg S, 6.625%, 2/17/37 100,000 97,300 (h) senior bond, Reg S, 7.75%, 1/17/38 67,836,000 73,805,568 (e) senior note, 144A, 11.625%, 3/04/19 57,990,000 81,940,836 --------------- 1,708,981,249 --------------- IRAQ 0.3% Government of Iraq, (e) 144A, 5.80%, 1/15/28 21,625,000 16,205,775 (h) Reg S, 5.80%, 1/15/28 61,094,000 45,783,844 --------------- 61,989,619 --------------- ISRAEL 2.3% Government of Israel, 2680, 7.00%, 4/29/11 1,922,260,000 ILS 541,835,724 --------------- LITHUANIA 1.5% (e) Government of Lithuania, 144A, 6.75%, 1/15/15 340,330,000 344,158,712 --------------- MALAYSIA 4.3% Government of Malaysia, 3.869%, 4/13/10 637,200,000 MYR 188,867,637 3.644%, 8/25/10 147,890,000 MYR 44,023,306 3.756%, 4/28/11 752,167,000 MYR 225,717,417 (d) 3.833%, 9/28/11 519,000,000 MYR 156,341,273 3.718%, 6/15/12 210,000,000 MYR 63,149,675 3.702%, 2/25/13 62,130,000 MYR 18,604,174 3.70%, 5/15/13 23,710,000 MYR 7,087,480 0509, 3.21%, 5/31/13 1,000,000,000 MYR 294,987,856 --------------- 998,778,818 --------------- MEXICO 5.3% Government of Mexico, M 20, 8.00%, 12/07/23 30,785,000(i) MXN 236,305,021 M 20, 10.00%, 12/05/24 12,883,000(i) MXN 116,225,589 M 20, 7.50%, 6/03/27 54,181,000(i) MXN 388,208,120 M 30, 10.00%, 11/20/36 39,583,000(i) MXN 356,862,303 senior bond, 5.95%, 3/19/19 130,400,000 142,299,000 --------------- 1,239,900,033 --------------- NEW ZEALAND 0.1% Government of New Zealand, 6.00%, 11/15/11 10,837,000 NZD 8,045,130 6.50%, 4/15/13 6,650,000 NZD 5,020,596 --------------- 13,065,726 --------------- NORWAY 4.2% (d) Government of Norway, 6.00%, 5/16/11 5,290,430,000 NOK 980,220,934 --------------- PERU 0.3% Government of Peru, 7.84%, 8/12/20 74,675,000 PEN 30,127,799 Series 7, 8.60%, 8/12/17 110,435,000 PEN 47,136,176 --------------- 77,263,975 --------------- PHILIPPINES 0.1% (h) Government of the Philippines, Reg S, 9.125%, 2/22/10 15,795,000 EUR 24,205,079 ---------------
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) POLAND 8.6% Government of Poland, 4.25%, 5/24/11 240,565,000 PLN $ 86,498,582 4.75%, 4/25/12 2,094,080,000 PLN 753,256,334 5.75%, 4/25/14 987,775,000 PLN 357,691,044 6.25%, 10/24/15 477,140,000 PLN 175,876,855 5.75%, 9/23/22 495,970,000 PLN 171,774,849 (j) 0112, Strip, 1/25/12 358,580,000 PLN 116,823,439 1013, 5.00%, 10/24/13 44,700,000 PLN 15,877,645 senior note, 6.375%, 7/15/19 297,700,000 330,706,892 --------------- 2,008,505,640 --------------- QATAR 0.5% (e) Government of Qatar, senior note, 144A, 6.55%, 4/09/19 109,850,000 121,318,340 --------------- RUSSIA 3.1% Government of Russia, (e) 144A, 7.50%, 3/31/30 633,048,640 715,439,921 (h) senior bond, Reg S, 7.50%, 3/31/30 3,901,000 4,408,715 --------------- 719,848,636 --------------- SOUTH AFRICA 1.5% Government of South Africa, 5.25%, 5/16/13 31,958,000 EUR 49,777,740 4.50%, 4/05/16 16,945,000 EUR 25,135,782 6.875%, 5/27/19 205,735,000 229,651,694 senior note, 6.50%, 6/02/14 7,290,000 8,043,203 senior note, 5.875%, 5/30/22 31,345,000 31,952,309 --------------- 344,560,728 --------------- SOUTH KOREA 17.7% The Export-Import Bank of Korea, 5.125%, 3/16/15 6,330,000 6,696,824 4.625%, 2/20/17 14,090,000 EUR 21,086,895 (h) Reg S, 5.25%, 2/10/14 6,200,000 6,580,772 senior note, 8.125%, 1/21/14 37,645,000 44,010,581 Government of Korea, senior bond, 5.625%, 11/03/25 13,150,000 13,544,947 Korea Deposit Insurance Corp., 07-1, 5.57%, 9/14/12 44,400,000,000 KRW 39,053,876 08-1, 5.28%, 2/15/13 5,957,000,000 KRW 5,194,630 Korea Development Bank, senior note, 8.00%, 1/23/14 127,140,000 148,060,506 Korea Treasury Bond, 0400-1206, 4.00%, 6/10/12 1,836,511,680,000 KRW 1,572,090,177 0475-1112, 4.75%, 12/10/11 1,443,452,360,000 KRW 1,256,940,705 0475-1203, 4.75%, 3/10/12 171,799,000,000 KRW 149,523,834 0500-1609, 5.00%, 9/10/16 175,000,000,000 KRW 149,628,430 0525-1303, 5.25%, 3/10/13 14,911,170,000 KRW 13,133,213 0525-1509, 5.25%, 9/10/15 26,000,000,000 KRW 22,740,029 0550-1106, 5.50%, 6/10/11 392,801,870,000 KRW 347,021,283 0575-1012, 5.75%, 12/10/10 147,250,000,000 KRW 129,507,288 senior note, 7.125%, 4/16/19 167,120,000 198,906,725 --------------- 4,123,720,715 --------------- SRI LANKA 2.2% Government of Sri Lanka, A, 8.50%, 1/15/13 7,820,300,000 LKR 65,534,780 A, 13.50%, 2/01/13 7,593,700,000 LKR 72,416,510 A, 11.25%, 7/15/14 23,159,500,000 LKR 207,363,632 A, 11.00%, 8/01/15 15,208,000,000 LKR 134,522,347 B, 11.00%, 9/01/15 3,443,800,000 LKR 30,614,949 --------------- 510,452,218 --------------- (K) SUPRANATIONAL 3.9% Corporacion Andina De Fomento, 8.125%, 6/04/19 136,720,000 162,594,260 European Investment Bank, senior note, 5.375%, 7/16/12 2,452,200,000 NOK 455,190,770 4.50%, 5/15/13 340,210,000 NOK 61,734,033 1612/37, 6.50%, 9/10/14 51,500,000 NZD 38,239,526
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) Inter-American Development Bank, 7.50%, 4/15/15 5,600,000 NZD $ 4,358,598 6.00%, 12/15/17 10,200,000 NZD 7,358,303 senior note, 7.50%, 12/05/24 2,473,000,000 MXN 166,008,777 International Bank for Reconstruction & Development, 7.50%, 7/30/14 14,802,000 NZD 11,613,750 --------------- 907,098,017 --------------- SWEDEN 6.3% Government of Sweden, 5.25%, 3/15/11 9,610,610,000 SEK 1,461,810,581 --------------- UNITED ARAB EMIRATES 0.5% (e) Emirate of Abu Dhabi, 144A, 6.75%, 4/08/19 107,890,000 119,278,329 --------------- VENEZUELA 2.6% Government of Venezuela, 10.75%, 9/19/13 133,587,000 123,567,975 (h) senior bond, Reg S, 5.375%, 8/07/10 168,805,000 165,850,912 Petroleos de Venezuela SA, senior bond, zero cpn., 7/10/11 397,600,000 318,577,000 --------------- 607,995,887 --------------- TOTAL BONDS (COST $18,753,585,764) 20,567,618,621 --------------- MUNICIPAL BONDS 2.6% UNITED STATES AND U.S. TERRITORIES 2.6% Alabama Public Housing Authorities Capital Program Revenue, Series B, FSA Insured, 4.45%, 1/01/24 3,865,000 3,891,939 Alabama State University Revenue, General Tuition and Fee, Assured Guaranty, 5.00%, 9/01/29 1,450,000 1,517,077 5.75%, 9/01/39 1,450,000 1,561,940 Bay Area Toll Authority Toll Bridge Revenue, San Francisco Bay Area, Refunding, Series F-1, 5.00%, 4/01/39 17,665,000 17,583,034 5.50%, 4/01/43 24,910,000 25,747,972 Bexar County Hospital District GO, Certificates of Obligation, 5.00%, 2/15/32 7,675,000 7,756,739 Bexar County Revenue, Venue Project, Refunding, Series A, BHAC Insured, 5.25%, 8/15/47 6,900,000 7,010,193 California State GO, Refunding, 5.125%, 4/01/33 41,950,000 38,794,941 Refunding, 5.00%, 4/01/38 17,580,000 15,418,539 Various Purpose, 6.00%, 4/01/38 105,350,000 106,993,460 District of Columbia University Revenue, Georgetown University, Refunding, Series D, BHAC Insured, 5.50%, 4/01/36 14,180,000 15,342,335 Florida State Hurricane Catastrophe Fund Finance Corp. Revenue, Series A, 4.25%, 7/01/14 22,070,000 23,338,142 Georgia State GO, Series B, 5.00%, 1/01/26 3,000,000 3,349,770 Hamilton County Sales Tax Revenue, sub. bond, Refunding, Series A, FSA Insured, 5.00%, 12/01/32 17,375,000 17,734,489 Illinois Municipal Electricity Agency Power Supply Revenue, Series A, BHAC Insured, 5.00%, 2/01/35 10,260,000 10,583,190 Kentucky State Municipal Power Agency Power System Revenue, Prairie State Project, Series A, BHAC Insured, 5.25%, 9/01/42 21,980,000 22,755,454 Las Vegas Valley Water District GO, Refunding, Series A, NATL Insured, 5.00%, 6/01/26 11,440,000 11,771,760 Lewisville ISD, GO, School Building, 5.00%, 8/15/26 15,930,000 17,234,348 Los Angeles USD, GO, Series I, 5.00%, 7/01/26 5,300,000 5,537,758 7/01/27 5,650,000 5,867,638 Minneapolis Health Care System Revenue, Fairview Health Services, Series B, Assured Guaranty, 6.50%, 11/15/38 16,000,000 17,750,720 MTA Revenue, Series B, Assured Guaranty, 5.25%, 11/15/20 12,600,000 14,235,858 Transportation, Series A, FSA Insured, 5.50%, 11/15/21 11,905,000 13,661,226 North Carolina Eastern Municipal Power Agency Power System Revenue, Refunding, Series A, Assured Guaranty, 5.25%, 1/01/19 20,600,000 22,902,462 Palomar Pomerado Health GO, Election of 2004, Series A, NATL Insured, 5.125%, 8/01/37 60,670,000 56,218,035 Philadelphia GO, Refunding, Series A, Assured Guaranty, 5.00%, 8/01/24 4,000,000 4,158,240 Placentia-Yorba Linda USD, GO, 2008 Election, Series A, 5.25%, 8/01/32 22,035,000 22,698,033 Poway USD, GO, Election of 2008, ID 07-1-A, zero cpn., 8/01/27 6,485,000 2,282,785
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) 8/01/30 6,485,000 $ 1,807,499 8/01/32 8,105,000 1,914,644 8/01/33 4,290,000 937,923 Puerto Rico Commonwealth GO, Public Improvement, Refunding, Series A, NATL Insured, 5.50%, 7/01/21 7,450,000 7,590,284 Regional Transportation District Sales Tax Revenue, Fastracks Project, Series A, AMBAC Insured, 5.00%, 11/01/27 17,135,000 18,255,972 San Bernardino Community College District GO, Election of 2002, Series A, 6.375%, 8/01/26 3,675,000 4,287,843 6.50%, 8/01/27 5,330,000 6,275,595 6.50%, 8/01/28 2,200,000 2,574,528 San Mateo County Community College District GO, Election of 2001, Series C, NATL Insured, zero cpn., 9/01/30 15,680,000 4,667,622 3/01/31 4,270,000 1,207,983 Tarrant County Cultural Education Facilities Finance Corp. Revenue, Christus Health, Refunding, Series A, Assured Guaranty, 6.25%, 7/01/28 13,450,000 15,028,223 Tulare Sewer Revenue, Building America Bonds, Series B, FSA Insured, 8.75%, 11/15/44 28,685,000 28,814,656 --------------- TOTAL MUNICIPAL BONDS (COST $585,735,232) 607,060,849 --------------- TOTAL INVESTMENTS BEFORE SHORT TERM INVESTMENTS (COST $19,339,320,996) 21,174,679,470 --------------- SHORT TERM INVESTMENTS 8.9% FOREIGN GOVERNMENT AND AGENCY SECURITIES (COST $132,369,210) 0.5% ISRAEL 0.5% (j) Israel Treasury Bill, 10/06/10 499,470,000 ILS 130,094,358 --------------- U.S. GOVERNMENT AND AGENCY SECURITIES (COST $249,999,861) 1.1% UNITED STATES 1.1% (j) FHLB, 12/01/09 250,000,000 250,000,000 --------------- TOTAL INVESTMENTS BEFORE MONEY MARKET FUNDS (COST $19,721,690,067) 21,554,773,828 ===============
SHARES ----------------- MONEY MARKET FUNDS (COST $1,693,124,655) 7.3% UNITED STATES 7.3% (l) Institutional Fiduciary Trust Money Market Portfolio, 0.00% 1,693,124,655 1,693,124,655 --------------- TOTAL INVESTMENTS (COST $21,414,814,722) 99.8% 23,247,898,483 OTHER ASSETS, LESS LIABILITIES 0.2% 35,481,772 --------------- NET ASSETS 100.0% $23,283,380,255 ===============
(a) The principal amount is stated in U.S. dollars unless otherwise indicated. (b) The principal amount is stated in original face, and scheduled paydowns are reflected in the market price on ex-date. (c) The coupon rate shown represents the rate at period end. (d) A portion of the security purchased on a delayed delivery basis. (e) Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and 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. These securities have been deemed liquid under guidelines approved by the Fund's Board of Trustees. At November 30, 2009, the aggregate value of these securities was $1,667,958,606, representing 7.16% of net assets. (f) Principal amount is stated in 1,000 Brazilian Real Units. (g) Redemption price at maturity is adjusted for inflation. (h) Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security 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. These securities have been deemed liquid under guidelines approved by the Fund's Board of Trustees. At November 30, 2009, the aggregate value of these securities was $384,242,096 representing 1.65% of net assets. (i) Principal amount is stated in 100 Mexican Peso Units. (j) The security is traded on a discount basis with no stated coupon rate. (k) A supranational organization is an entity formed by two or more central governments through international treaties. (l) The Institutional Fiduciary Trust Money Market Portfolio is managed by the Fund's investment manager. The rate shown is the annualized seven-day yield at period end. Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) At November 30, 2009, the Fund had the following forward exchange contracts outstanding. See Note 3.
CONTRACT SETTLEMENT UNREALIZED UNREALIZED CURRENCY COUNTERPARTY TYPE QUANTITY AMOUNT(a) DATE APPRECIATION DEPRECIATION -------- ------------ ---- --------------- ------------- ---------- ------------ ------------- Mexican Peso CITI Sell 517,371,000 38,189,408 12/01/09 $ -- $ (1,805,954) Mexican Peso CITI Buy 517,371,000 40,109,388 12/01/09 -- (114,042) New Zealand Dollar BZWS Sell 192,331,488 118,860,859 12/02/09 -- (18,855,999) New Zealand Dollar FBCO Sell 137,414,201 84,986,561 12/02/09 -- (13,407,375) New Zealand Dollar DBAB Sell 49,739,803 30,255,230 12/02/09 -- (5,360,412) New Zealand Dollar FBCO Buy 137,414,201 98,251,154 12/02/09 1,648,521 -- New Zealand Dollar BZWS Buy 192,331,488 137,324,682 12/02/09 2,499,681 -- New Zealand Dollar DBAB Buy 49,739,803 35,588,829 12/02/09 571,845 -- Chinese Yuan HSBC Buy 188,850,000 20,504,574 EUR 12/04/09 -- (3,120,683) Chinese Yuan HSBC Buy 149,888,000 20,504,514 12/04/09 1,450,824 -- Malaysian Ringgit JPHQ Buy 99,684,424 27,099,205 12/04/09 2,241,865 -- Indonesian Rupiah JPHQ Buy 186,186,000,000 13,299,000 12/07/09 6,364,900 -- Euro UBSW Sell 12,174,656 15,394,244 12/08/09 -- (2,883,083) Chinese Yuan HSBC Buy 257,416,734 36,409,722 12/14/09 1,301,766 -- Chinese Yuan JPHQ Buy 128,344,293 18,204,864 12/14/09 597,543 -- Chinese Yuan JPHQ Buy 255,227,866 36,202,534 12/15/09 1,188,833 -- Chinese Yuan HSBC Buy 256,107,587 36,202,534 12/15/09 1,317,714 -- Chinese Yuan HSBC Buy 278,739,205 39,607,702 12/16/09 1,228,719 -- Malaysian Ringgit JPHQ Buy 140,706,364 39,607,703 12/16/09 1,782,649 -- Chinese Yuan HSBC Buy 145,422,163 20,568,906 12/17/09 736,342 -- Malaysian Ringgit JPHQ Buy 73,636,682 20,568,906 12/17/09 1,091,055 -- Mexican Peso DBAB Sell 1,315,628,544 95,322,278 12/17/09 -- (6,159,579) Chinese Yuan HSBC Buy 437,371,043 61,706,718 12/18/09 2,371,788 -- Euro UBSW Sell 68,795,891 95,127,518 12/18/09 -- (8,149,602) Chinese Yuan HSBC Buy 118,887,030 16,959,633 12/21/09 459,074 -- Malaysian Ringgit JPHQ Buy 88,117,194 24,682,687 12/21/09 1,231,429 -- Malaysian Ringgit HSBC Buy 45,201,704 12,719,725 12/21/09 573,506 -- Chinese Yuan HSBC Buy 139,831,641 20,090,753 12/22/09 396,949 -- Malaysian Ringgit HSBC Buy 71,980,801 20,576,525 12/22/09 591,020 -- Mexican Peso DBAB Sell 1,276,908,827 94,172,874 12/22/09 -- (4,254,931) Mexican Peso DBAB Buy 1,276,908,827 90,193,101 12/22/09 8,234,703 -- Malaysian Ringgit HSBC Buy 57,214,469 16,455,125 12/23/09 369,205 -- Mexican Peso DBAB Sell 530,297,829 39,141,860 12/23/09 -- (1,729,430) Mexican Peso DBAB Buy 530,297,829 37,580,457 12/23/09 3,290,833 -- Mexican Peso DBAB Sell 850,274,408 62,533,971 12/24/09 -- (2,989,695) Mexican Peso HSBC Sell 273,070,000 19,944,928 12/24/09 -- (1,098,334) Mexican Peso DBAB Buy 850,274,408 60,128,734 12/24/09 5,394,933 -- Malaysian Ringgit HSBC Buy 64,732,814 18,512,015 12/28/09 518,335 -- Mexican Peso DBAB Sell 428,903,000 31,435,283 12/28/09 -- (1,598,675) Mexican Peso DBAB Sell 404,168,000 29,639,777 12/29/09 -- (1,484,845) Mexican Peso UBSW Sell 357,162,500 26,296,753 12/29/09 -- (1,208,017) Mexican Peso UBSW Buy 357,162,500 25,000,000 12/29/09 2,504,770 -- Euro DBAB Sell 130,978,200 183,664,181 1/04/10 -- (12,950,428) Euro UBSW Sell 143,798,000 199,015,300 1/11/10 -- (16,838,126) Euro DBAB Sell 112,242,000 155,679,654 1/11/10 -- (12,805,445)
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) Euro BOFA Sell 34,075,000 47,231,358 1/11/10 -- (3,918,210) Euro CITI Sell 28,395,000 39,463,087 1/11/10 -- (3,160,302) Euro FBCO Sell 21,734,000 30,117,891 1/11/10 -- (2,506,752) Malaysian Ringgit DBAB Buy 114,331,256 32,187,853 1/11/10 1,403,617 -- Euro CITI Sell 192,914,073 271,210,179 1/13/10 -- (18,368,756) Euro UBSW Sell 22,914,073 32,198,626 1/13/10 -- (2,197,168) Euro JPHQ Sell 10,668,000 14,840,255 1/13/10 -- (1,173,238) Mexican Peso DBAB Sell 913,784,000 65,709,129 1/13/10 -- (4,527,920) Philippine Peso JPHQ Buy 5,775,696,000 123,812,199 1/13/10 -- (2,046,760) Euro BZWS Sell 28,201,936 39,623,720 1/14/10 -- (2,709,417) Euro DBAB Sell 60,028,000 83,851,312 1/15/10 -- (6,254,723) Euro UBSW Sell 29,964,560 41,872,476 1/15/10 -- (3,106,329) Euro JPHQ Sell 15,863,589 22,121,934 1/15/10 -- (1,690,373) Philippine Peso HSBC Buy 1,463,195,000 31,432,760 1/15/10 -- (591,343) Philippine Peso DBAB Buy 834,495,000 17,961,580 1/15/10 -- (371,984) Euro CITI Sell 42,223,091 59,433,223 1/19/10 -- (3,945,566) Euro BZWS Sell 22,914,073 32,274,472 1/19/10 -- (2,120,599) Philippine Peso JPHQ Buy 2,083,812,000 44,903,935 1/19/10 -- (998,776) Philippine Peso DBAB Buy 522,121,000 11,225,994 1/19/10 -- (225,095) Mexican Peso DBAB Sell 112,210,696 8,237,159 1/20/10 -- (380,264) Mexican Peso DBAB Buy 112,210,696 7,563,916 1/20/10 1,053,507 -- Mexican Peso HSBC Sell 1,668,902,079 122,476,540 1/21/10 -- (5,673,815) Mexican Peso HSBC Buy 1,668,902,079 113,458,742 1/21/10 14,691,613 -- Euro DBAB Sell 70,284,000 99,702,774 1/25/10 -- (5,794,502) Euro UBSW Sell 40,540,286 57,663,692 1/25/10 -- (3,187,850) Euro CITI Sell 81,493,700 116,358,335 1/27/10 -- (5,964,001) Mexican Peso DBAB Sell 120,746,000 8,925,174 1/27/10 -- (339,640) Chilean Peso DBAB Buy 20,283,160,000 32,113,933 1/28/10 8,809,650 -- New Zealand Dollar BZWS Sell 9,368,064 4,754,293 1/28/10 -- (1,925,647) Chilean Peso DBAB Buy 46,684,780,000 74,410,351 1/29/10 19,788,156 -- Chilean Peso JPHQ Buy 6,148,640,000 9,790,828 1/29/10 2,615,629 -- Euro UBSW Sell 60,396,000 84,750,687 1/29/10 -- (5,903,290) Euro DBAB Sell 63,165,000 89,279,306 1/29/10 -- (5,530,921) Mexican Peso CITI Sell 522,344,000 38,317,488 1/29/10 -- (1,751,858) New Zealand Dollar UBSW Sell 77,637,415 50,534,193 1/29/10 -- (4,821,672) Singapore Dollar HSBC Sell 483,351,000 322,333,044 1/29/10 -- (26,618,929) Singapore Dollar BZWS Sell 120,852,000 80,311,272 1/29/10 -- (6,937,009) Singapore Dollar UBSW Sell 120,915,000 80,364,086 1/29/10 -- (6,929,677) Singapore Dollar HSBC Buy 483,351,000 348,618,368 1/29/10 333,605 -- Singapore Dollar UBSW Buy 120,915,000 86,686,119 1/29/10 607,644 -- Singapore Dollar BZWS Buy 120,852,000 86,713,066 1/29/10 535,215 -- Chilean Peso DBAB Buy 9,790,830,000 15,665,328 2/02/10 4,102,944 -- New Zealand Dollar DBAB Sell 79,324,138 40,101,525 2/02/10 -- (16,441,418) Singapore Dollar HSBC Sell 121,068,000 80,568,588 2/02/10 -- (6,832,688) Singapore Dollar BZWS Sell 48,437,000 32,226,880 2/02/10 -- (2,740,706) Singapore Dollar HSBC Buy 121,068,000 87,140,030 2/02/10 261,247 -- Singapore Dollar BZWS Buy 48,437,000 34,754,251 2/02/10 213,334 -- Chilean Peso DBAB Buy 18,372,490,000 29,372,486 2/03/10 7,728,665 -- Chinese Yuan DBAB Buy 929,101,000 131,726,796 2/03/10 4,486,381 --
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) Mexican Peso CITI Sell 718,542,900 52,909,900 2/03/10 -- (2,175,306) Mexican Peso CITI Buy 718,542,900 47,892,419 2/03/10 7,192,786 -- Singapore Dollar HSBC Sell 151,665,500 100,708,172 2/03/10 -- (8,781,095) Singapore Dollar HSBC Buy 151,665,500 109,162,918 2/03/10 326,349 -- Indian Rupee JPHQ Buy 358,240,000 7,051,969 2/04/10 629,321 -- Mexican Peso HSBC Sell 604,400,000 44,345,963 2/04/10 -- (1,982,946) Mexican Peso UBSW Sell 482,840,000 35,424,199 2/04/10 -- (1,586,805) Mexican Peso HSBC Buy 604,400,000 39,910,195 2/04/10 6,418,714 -- Mexican Peso UBSW Buy 482,840,000 31,928,583 2/04/10 5,082,420 -- Singapore Dollar HSBC Sell 152,512,000 100,710,531 2/04/10 -- (9,388,908) Singapore Dollar HSBC Buy 152,512,000 109,282,945 2/04/10 816,494 -- Mexican Peso DBAB Sell 241,355,000 17,937,941 2/05/10 -- (560,250) Singapore Dollar HSBC Sell 121,643,000 80,566,281 2/05/10 -- (7,247,879) Singapore Dollar HSBC Buy 121,643,000 87,163,668 2/05/10 650,493 -- Euro HSBC Sell 12,565,000 18,101,893 2/08/10 -- (757,041) Euro JPHQ Sell 2,700,000 3,886,650 2/08/10 -- (165,807) Mexican Peso DBAB Sell 742,033,000 54,341,419 2/08/10 -- (2,508,819) Mexican Peso DBAB Buy 742,033,000 48,348,786 2/08/10 8,501,452 -- Singapore Dollar JPHQ Sell 95,821,000 63,647,293 2/08/10 -- (5,524,201) Singapore Dollar JPHQ Buy 95,821,000 68,708,590 2/08/10 462,904 -- Singapore Dollar JPHQ Sell 121,427,000 80,639,527 2/09/10 -- (7,015,750) Singapore Dollar JPHQ Buy 121,427,000 87,301,028 2/09/10 354,249 -- Euro UBSW Sell 78,529,000 111,400,454 2/11/10 -- (6,462,551) Singapore Dollar BZWS Sell 48,113,700 32,255,787 2/11/10 -- (2,475,769) Singapore Dollar BZWS Buy 48,113,700 34,463,550 2/11/10 268,007 -- Chilean Peso DBAB Buy 9,634,200,000 15,665,366 2/12/10 3,818,132 -- Malaysian Ringgit DBAB Buy 204,939,720 56,457,223 2/12/10 3,678,259 -- New Zealand Dollar HSBC Sell 13,727,783 7,130,211 2/12/10 -- (2,648,346) South Korean Won HSBC Buy 73,953,000,000 54,377,206 2/12/10 8,965,111 -- Chilean Peso DBAB Buy 23,713,410,000 39,163,353 2/16/10 8,823,959 -- Chilean Peso DBAB Buy 23,672,830,000 39,389,068 2/17/10 8,523,881 -- Malaysian Ringgit HSBC Buy 51,597,000 14,149,733 2/17/10 987,419 -- New Zealand Dollar HSBC Sell 18,321,401 9,164,365 2/22/10 -- (3,877,345) Malaysian Ringgit JPHQ Buy 287,500,000 77,441,077 2/25/10 6,877,191 -- Chilean Peso CITI Buy 40,570,740,000 66,961,351 2/26/10 15,272,191 -- Chilean Peso DBAB Buy 11,938,820,000 19,694,523 2/26/10 4,504,480 -- New Zealand Dollar DBAB Sell 47,837,726 23,990,619 2/26/10 -- (10,052,320) Singapore Dollar JPHQ Sell 305,150,000 200,000,000 2/26/10 -- (20,249,029) Singapore Dollar JPHQ Buy 305,150,000 219,374,551 2/26/10 874,478 -- Chilean Peso DBAB Buy 11,879,730,000 19,694,513 3/03/10 4,391,961 -- Chilean Peso DBAB Buy 19,297,480,000 31,511,234 3/04/10 7,614,620 -- Chilean Peso DBAB Buy 12,092,440,000 19,694,528 3/05/10 4,822,835 -- Chilean Peso DBAB Buy 11,405,180,000 18,538,075 3/08/10 4,585,324 -- Chilean Peso DBAB Buy 12,117,060,000 19,694,531 3/09/10 4,871,974 -- New Zealand Dollar DBAB Sell 8,005,772 3,950,848 3/12/10 -- (1,740,084) New Zealand Dollar DBAB Sell 8,009,481 4,042,385 3/16/10 -- (1,649,364) Singapore Dollar JPHQ Sell 199,044,000 129,350,143 3/17/10 -- (14,298,312) Singapore Dollar JPHQ Buy 199,044,000 143,094,177 3/17/10 554,278 -- Singapore Dollar DBAB Sell 31,416,000 20,427,856 3/18/10 -- (2,244,691)
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) Singapore Dollar DBAB Buy 31,416,000 22,617,222 3/18/10 55,325 -- Singapore Dollar DBAB Sell 47,041,000 30,642,275 3/19/10 -- (3,306,456) Singapore Dollar DBAB Buy 47,041,000 33,547,996 3/19/10 400,735 -- Mexican Peso CITI Sell 526,620,450 38,935,867 3/22/10 -- (1,183,011) Singapore Dollar DBAB Sell 62,640,000 40,853,728 3/22/10 -- (4,351,787) Singapore Dollar DBAB Buy 62,640,000 45,095,244 3/22/10 110,272 -- Singapore Dollar UBSW Sell 58,414,000 38,459,361 3/23/10 -- (3,696,134) Singapore Dollar UBSW Buy 58,414,000 42,091,079 3/23/10 64,415 -- Australian Dollar BZWS Sell 21,979,410 14,949,296 3/24/10 -- (4,936,762) Singapore Dollar JPHQ Sell 15,411,000 10,213,400 3/31/10 -- (907,720) Singapore Dollar JPHQ Buy 15,411,000 11,048,896 3/31/10 72,225 -- Indian Rupee DBAB Buy 1,454,986,000 28,118,932 4/09/10 2,949,859 -- Indian Rupee DBAB Buy 3,119,992,000 60,254,770 4/12/10 6,353,451 -- Indian Rupee JPHQ Buy 2,095,665,000 40,169,925 4/13/10 4,566,969 -- Indian Rupee JPHQ Buy 2,057,100,000 40,169,889 4/15/10 3,737,600 -- Indian Rupee JPHQ Buy 1,027,590,000 20,140,925 4/19/10 1,786,192 -- Indian Rupee DBAB Buy 725,918,000 14,150,448 4/19/10 1,339,474 -- Malaysian Ringgit JPHQ Buy 42,853,346 11,836,960 4/19/10 705,830 -- Malaysian Ringgit JPHQ Buy 122,783,000 34,194,725 4/20/10 1,741,394 -- Swedish Krona UBSW Buy 67,500,000 6,056,908 EUR 4/22/10 599,281 -- Chilean Peso CITI Buy 17,927,842,000 30,557,085 4/23/10 5,777,488 -- Malaysian Ringgit JPHQ Buy 19,310,000 5,276,677 4/23/10 374,330 -- Chilean Peso CITI Buy 17,505,872,000 29,865,347 4/26/10 5,613,176 -- Indian Rupee DBAB Buy 1,461,225,000 28,197,328 4/26/10 2,967,605 -- Chilean Peso CITI Buy 13,892,613,000 23,657,068 4/27/10 4,498,371 -- Chilean Peso JPHQ Buy 13,842,935,000 23,657,071 4/27/10 4,397,688 -- Indian Rupee JPHQ Buy 208,459,000 4,028,193 4/27/10 417,499 -- Chilean Peso UBSW Buy 2,793,900,000 4,731,414 4/28/10 930,794 -- Chilean Peso CITI Buy 22,313,350,000 37,851,315 4/28/10 7,369,639 -- Indian Rupee DBAB Buy 432,942,691 8,455,912 4/28/10 776,577 -- Indian Rupee JPHQ Buy 1,034,235,000 20,140,896 4/28/10 1,914,132 -- New Zealand Dollar DBAB Sell 13,836,250 7,572,580 4/28/10 -- (2,226,164) Peruvian Nuevo Sol DBAB Buy 133,781,288 43,134,383 4/29/10 3,241,770 -- Indian Rupee JPHQ Buy 1,035,247,000 20,140,992 4/30/10 1,932,531 -- Malaysian Ringgit JPHQ Buy 108,048,000 30,634,534 5/06/10 969,790 -- Peruvian Nuevo Sol DBAB Buy 47,975,788 15,965,320 5/07/10 664,876 -- Peruvian Nuevo Sol DBAB Buy 24,730,000 8,268,138 5/10/10 304,024 -- Chilean Peso DBAB Buy 5,306,760,000 9,255,869 5/18/10 1,497,287 -- Peruvian Nuevo Sol DBAB Buy 89,839,522 29,275,033 5/18/10 1,864,319 -- Russian Ruble DBAB Buy 209,400,800 4,470,641 EUR 5/24/10 234,769 -- Chilean Peso CITI Buy 4,953,675,000 8,877,554 5/26/10 1,159,509 -- Chilean Peso DBAB Buy 17,344,078,000 31,071,440 5/26/10 4,070,871 -- Peruvian Nuevo Sol CITI Buy 10,930,000 3,592,440 5/26/10 195,806 -- Swedish Krona UBSW Buy 485,000,000 46,396,832 EUR 5/26/10 16,332 -- Chilean Peso CITI Buy 22,351,230,000 39,545,701 5/28/10 5,741,314 -- Chilean Peso DBAB Buy 22,343,320,000 39,545,699 5/28/10 5,725,289 -- Chilean Peso CITI Buy 8,913,600,000 15,818,279 6/01/10 2,244,777 -- Indian Rupee DBAB Buy 1,979,778,000 40,338,597 6/01/10 1,780,755 -- New Zealand Dollar DBAB Sell 115,316,136 80,547,168 6/01/10 -- (896,420)
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) New Zealand Dollar UBSW Sell 116,015,008 81,045,765 6/01/10 -- (891,412) New Zealand Dollar CITI Sell 65,632,522 45,770,808 6/01/10 -- (583,052) Indian Rupee HSBC Buy 58,693,000 1,210,165 6/02/10 38,436 -- New Zealand Dollar FBCO Sell 137,414,201 96,877,012 6/02/10 -- (1,666,472) New Zealand Dollar BZWS Sell 96,165,744 67,727,610 6/02/10 -- (1,235,476) New Zealand Dollar DBAB Sell 49,739,803 35,098,892 6/02/10 -- (570,882) Indian Rupee HSBC Buy 290,438,000 6,050,792 6/03/10 127,426 -- Indian Rupee HSBC Buy 1,938,670,000 40,338,535 6/04/10 898,357 -- Poland Zloty DBAB Buy 160,761,000 35,339,078 EUR 6/04/10 4,304,261 -- Indian Rupee DBAB Buy 969,335,000 20,169,268 6/07/10 445,232 -- Poland Zloty DBAB Buy 152,077,000 33,130,079 EUR 6/07/10 4,512,547 -- Indian Rupee HSBC Buy 394,916,000 8,184,788 6/08/10 213,214 -- Indian Rupee DBAB Buy 488,941,000 10,144,004 6/08/10 253,465 -- Poland Zloty CITI Buy 61,037,800 13,252,493 EUR 6/08/10 1,876,865 -- Mexican Peso DBAB Sell 545,880,645 39,135,437 6/09/10 -- (1,984,311) New Zealand Dollar BZWS Sell 96,165,744 67,687,221 6/09/10 -- (1,230,438) Indian Rupee DBAB Buy 394,805,000 8,115,211 6/10/10 279,359 -- Indian Rupee BZWS Buy 590,382,000 12,172,825 6/11/10 379,414 -- Indian Rupee HSBC Buy 395,616,000 8,115,200 6/11/10 296,077 -- Indian Rupee DBAB Buy 988,229,000 20,288,011 6/16/10 716,240 -- Indian Rupee DBAB Buy 900,181,000 18,259,249 6/21/10 867,493 -- Indian Rupee JPHQ Buy 1,429,725,000 29,000,507 6/22/10 1,375,871 -- Swedish Krona CITI Buy 1,107,932,801 101,027,000 EUR 6/22/10 7,518,975 -- Indian Rupee DBAB Buy 2,163,512,000 43,500,794 6/24/10 2,459,990 -- Indian Rupee HSBC Buy 1,452,928,000 29,000,559 6/25/10 1,862,896 -- Peruvian Nuevo Sol DBAB Buy 98,841,518 32,274,781 6/28/10 1,977,399 -- Swedish Krona UBSW Buy 639,964,000 57,536,232 EUR 6/28/10 5,575,912 -- Malaysian Ringgit JPHQ Buy 159,282,000 44,887,135 6/29/10 1,620,595 -- Swedish Krona UBSW Buy 464,705,000 41,937,100 EUR 6/29/10 3,813,266 -- Indian Rupee JPHQ Buy 1,437,557,000 29,000,545 7/09/10 1,509,176 -- Indian Rupee DBAB Buy 1,436,398,000 29,000,565 7/09/10 1,484,557 -- Malaysian Ringgit DBAB Buy 90,132,504 25,351,589 7/09/10 957,941 -- Indian Rupee JPHQ Buy 872,766,000 17,400,335 7/12/10 1,119,113 -- Indian Rupee DBAB Buy 725,738,000 14,500,260 7/12/10 899,363 -- Malaysian Ringgit DBAB Buy 189,098,252 53,000,865 7/12/10 2,191,771 -- Malaysian Ringgit JPHQ Buy 46,900,000 13,065,887 7/13/10 622,548 -- Malaysian Ringgit DBAB Buy 3,264,000 907,171 7/16/10 45,391 -- Indian Rupee CITI Buy 213,626,000 4,272,520 7/19/10 258,446 -- Indian Rupee JPHQ Buy 213,626,000 4,272,520 7/20/10 258,158 -- Malaysian Ringgit DBAB Buy 5,149,000 1,441,974 7/20/10 60,528 -- Malaysian Ringgit DBAB Buy 6,261,000 1,768,145 7/23/10 58,685 -- Malaysian Ringgit JPHQ Buy 6,585,000 1,854,930 7/27/10 66,212 -- Malaysian Ringgit HSBC Buy 31,057,000 8,807,248 7/30/10 252,685 -- New Zealand Dollar DBAB Sell 192,559,504 123,912,041 7/30/10 -- (11,383,531) New Zealand Dollar DBAB Sell 191,826,943 123,220,037 8/03/10 -- (11,513,661) New Zealand Dollar BZWS Sell 75,092,238 48,209,217 8/03/10 -- (4,533,400) New Zealand Dollar DBAB Sell 75,999,930 48,556,355 8/04/10 -- (4,819,128) New Zealand Dollar BZWS Sell 37,836,112 24,290,784 8/04/10 -- (2,281,882) New Zealand Dollar CITI Sell 190,499,870 124,401,178 8/05/10 -- (9,377,016)
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) New Zealand Dollar DBAB Sell 56,511,959 36,834,495 8/05/10 -- (2,850,927) Malaysian Ringgit HSBC Buy 62,400,000 17,838,765 8/06/10 360,818 -- New Zealand Dollar CITI Sell 74,603,783 48,754,691 8/06/10 -- (3,631,100) New Zealand Dollar FBCO Sell 37,232,890 24,247,920 8/06/10 -- (1,896,524) Malaysian Ringgit JPHQ Buy 13,600,000 3,880,171 8/09/10 86,058 -- New Zealand Dollar FBCO Sell 154,872,994 101,829,426 8/09/10 -- (6,891,819) New Zealand Dollar CITI Sell 73,612,627 48,397,358 8/09/10 -- (3,278,898) New Zealand Dollar DBAB Sell 73,944,802 48,640,891 8/09/10 -- (3,268,553) New Zealand Dollar FBCO Sell 72,900,629 48,415,495 8/11/10 -- (2,751,989) Malaysian Ringgit HSBC Buy 103,249,178 29,353,000 8/12/10 755,384 -- New Zealand Dollar DBAB Sell 153,708,489 100,163,649 8/12/10 -- (7,711,814) Indian Rupee JPHQ Buy 2,413,495,000 49,255,000 8/13/10 1,853,464 -- Malaysian Ringgit HSBC Buy 493,150,785 139,918,000 8/13/10 3,884,990 -- New Zealand Dollar DBAB Sell 39,558,000 25,677,098 8/13/10 -- (2,083,012) Indian Rupee DBAB Buy 1,215,391,800 24,628,000 8/16/10 1,104,381 -- Malaysian Ringgit HSBC Buy 115,697,015 32,729,000 8/16/10 1,005,350 -- New Zealand Dollar DBAB Sell 41,618,000 27,472,042 8/16/10 -- (1,726,032) Brazilian Real DBAB Buy 62,779,000 3,048,987,693 JPY 8/17/10 -- (1,392,847) Indian Rupee HSBC Buy 3,869,965,050 78,810,000 8/17/10 3,120,032 -- Israeli Shekel CITI Buy 169,955,000 44,850,108 8/17/10 35,008 -- Japanese Yen UBSW Sell 8,717,091,000 91,898,151 8/17/10 -- (9,184,318) Brazilian Real DBAB Buy 46,379,000 2,233,148,850 JPY 8/18/10 -- (810,811) Chilean Peso JPHQ Buy 31,657,567,200 57,840,000 8/18/10 6,579,805 -- Indian Rupee JPHQ Buy 485,063,100 9,855,000 8/18/10 413,494 -- Japanese Yen JPHQ Sell 4,331,618,000 45,949,061 8/18/10 -- (4,280,502) Brazilian Real DBAB Buy 69,568,000 3,270,113,408 JPY 8/19/10 -- (302,446) Chilean Peso JPHQ Buy 10,728,200,000 19,400,000 8/19/10 2,431,919 -- Israeli Shekel DBAB Buy 17,025,000 4,484,984 8/19/10 11,305 -- Israeli Shekel CITI Buy 170,040,000 44,797,542 8/19/10 109,891 -- Japanese Yen HSBC Sell 4,311,532,000 45,828,359 8/19/10 -- (4,168,862) Brazilian Real HSBC Buy 76,000,000 38,481,013 8/20/10 2,605,876 -- Euro UBSW Sell 70,690,000 99,648,159 8/20/10 -- (6,245,346) Indian Rupee DBAB Buy 1,650,347,000 33,046,596 8/20/10 1,885,819 -- Israeli Shekel CITI Buy 65,235,000 17,067,842 8/20/10 160,646 -- Japanese Yen DBAB Sell 4,327,940,000 45,828,374 8/20/10 -- (4,359,694) Japanese Yen BZWS Sell 4,322,430,000 45,896,388 8/20/10 -- (4,227,784) Brazilian Real JPHQ Buy 76,000,000 38,529,785 8/23/10 2,528,692 -- Euro UBSW Sell 70,735,000 100,051,828 8/23/10 -- (5,904,894) Indian Rupee DBAB Buy 1,430,235,000 28,640,390 8/23/10 1,627,212 -- Israeli Shekel CITI Buy 111,326,000 29,194,902 8/23/10 206,037 -- Japanese Yen CITI Sell 8,636,095,000 91,792,788 8/23/10 -- (8,357,370) Japanese Yen FBCO Sell 8,572,756,000 91,792,767 8/23/10 -- (7,622,868) Japanese Yen JPSG Sell 8,617,736,000 91,792,784 8/24/10 -- (8,145,620) Japanese Yen BZWS Sell 8,589,052,000 91,792,797 8/24/10 -- (7,812,963) New Zealand Dollar FBCO Sell 66,881,603 44,100,391 8/24/10 -- (2,789,170) Japanese Yen DBAB Sell 4,271,575,000 45,896,368 8/25/10 -- (3,640,923) New Zealand Dollar DBAB Sell 66,562,000 44,496,697 8/27/10 -- (2,156,575) Brazilian Real DBAB Buy 46,449,000 2,170,236,627 JPY 8/31/10 -- (122,557) Indian Rupee DBAB Buy 1,011,402,000 20,268,577 9/01/10 1,123,174 --
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) Japanese Yen JPHQ Sell 4,281,239,000 45,896,399 9/01/10 -- (3,758,426) Brazilian Real DBAB Buy 69,674,000 3,221,516,738 JPY 9/02/10 190,578 -- Japanese Yen HSBC Sell 4,236,375,000 45,896,396 9/02/10 -- (3,238,941) Euro BZWS Sell 70,305,000 100,142,442 9/07/10 -- (5,148,352) Euro HSBC Sell 75,546,000 107,592,613 9/08/10 -- (5,545,665) Malaysian Ringgit HSBC Buy 186,092,504 36,804,887 EUR 9/08/10 -- (891,525) Japanese Yen HSBC Sell 6,380,381,000 68,844,613 9/09/10 -- (5,166,860) Japanese Yen HSBC Sell 6,358,487,000 68,844,597 9/10/10 -- (4,914,191) Japanese Yen DBAB Sell 6,506,245,000 70,877,217 9/10/10 -- (4,595,572) Euro HSBC Sell 72,875,156 106,233,030 9/13/10 -- (2,897,713) Japanese Yen UBSW Sell 5,404,624,000 59,064,347 9/13/10 -- (3,632,853) Brazilian Real DBAB Buy 104,509,000 4,872,972,495 JPY 9/15/10 -- (365,322) Japanese Yen UBSW Sell 6,404,537,000 70,877,226 9/15/10 -- (3,422,209) Japanese Yen HSBC Sell 4,299,980,000 47,251,489 9/15/10 -- (2,632,848) Japanese Yen BZWS Sell 4,252,396,000 47,251,470 9/15/10 -- (2,080,843) Euro UBSW Sell 37,255,501 54,389,306 9/15/10 -- (1,399,342) Japanese Yen HSBC Sell 6,378,240,000 70,877,209 9/16/10 -- (3,118,441) Japanese Yen DBAB Sell 2,138,129,000 23,625,735 9/16/10 -- (1,179,265) New Zealand Dollar DBAB Sell 39,235,631 26,758,700 9/16/10 -- (685,204) Euro CITI Sell 37,345,033 54,389,306 9/16/10 -- (1,532,627) Euro BZWS Sell 15,378,200 22,642,093 9/20/10 -- (384,541) Euro UBSW Sell 57,337,327 84,119,592 9/20/10 -- (1,734,775) Japanese Yen JPHQ Sell 4,276,260,000 47,251,492 9/21/10 -- (2,362,849) Japanese Yen HSBC Sell 2,120,172,000 23,625,719 9/21/10 -- (973,098) Euro UBSW Sell 100,326,698 147,102,014 9/23/10 -- (3,116,404) Swedish Krona UBSW Buy 335,000,000 32,949,415 EUR 9/23/10 -- (1,286,349) Euro JPHQ Sell 44,143,954 65,359,538 9/24/10 -- (735,948) Indian Rupee HSBC Buy 1,265,363,000 25,684,827 9/24/10 1,039,349 -- Indian Rupee DBAB Buy 2,529,955,000 51,369,645 9/24/10 2,062,424 -- Japanese Yen JPHQ Sell 4,375,489,000 48,350,616 9/24/10 -- (2,417,657) Swedish Krona UBSW Buy 1,007,972,000 100,141,275 EUR 9/24/10 -- (5,367,782) Indian Rupee DBAB Buy 400,000,000 11,614,402 NZD 9/27/10 331,590 -- Indian Rupee DBAB Buy 3,137,593,000 64,212,042 9/27/10 2,040,608 -- Indian Rupee JPHQ Buy 1,256,501,000 25,684,812 9/27/10 847,157 -- Japanese Yen JPHQ Sell 435,107,000 4,835,059 9/27/10 -- (213,698) Malaysian Ringgit JPHQ Buy 127,853,719 36,803,028 9/27/10 437,787 -- Swedish Krona UBSW Buy 1,007,011,000 100,141,310 EUR 9/27/10 -- (5,502,551) Japanese Yen JPHQ Sell 1,270,606,000 14,119,413 9/28/10 -- (624,302) Malaysian Ringgit JPHQ Buy 99,180,000 19,455,070 EUR 9/28/10 -- (239,714) Swedish Krona DBAB Buy 558,474,000 55,403,067 EUR 9/28/10 -- (2,850,615) Indian Rupee DBAB Buy 2,523,790,000 51,369,632 9/29/10 1,915,353 -- Indian Rupee JPHQ Buy 2,895,961,500 59,075,093 9/29/10 2,067,578 -- Japanese Yen JPHQ Sell 2,117,676,000 23,532,348 9/29/10 -- (1,040,931) Euro UBSW Sell 210,255,000 307,266,657 10/04/10 -- (7,498,002) Euro DBAB Sell 67,415,000 98,623,426 10/04/10 -- (2,300,973) Philippine Peso DBAB Buy 2,397,810,000 49,699,664 10/04/10 -- (269,138) Philippine Peso HSBC Buy 1,923,378,000 39,759,752 10/04/10 -- (109,577) Indian Rupee JPHQ Buy 2,575,440,000 52,560,000 10/05/10 1,794,818 -- Indian Rupee DBAB Buy 3,863,064,150 78,830,000 10/05/10 2,700,205 --
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) Israeli Shekel DBAB Buy 30,498,000 8,100,398 10/05/10 -- (46,916) Philippine Peso DBAB Buy 2,866,814,000 59,639,560 10/05/10 -- (543,376) Philippine Peso HSBC Buy 2,867,508,000 59,639,531 10/05/10 -- (529,041) Euro UBSW Sell 102,935,000 149,533,675 10/06/10 -- (4,562,024) Israeli Shekel DBAB Buy 564,840,000 150,000,000 10/06/10 -- (845,449) Philippine Peso JPHQ Buy 757,343,000 15,903,885 10/06/10 -- (292,839) Philippine Peso DBAB Buy 2,353,377,000 49,699,633 10/07/10 -- (1,191,970) Euro UBSW Sell 102,960,000 151,222,500 10/08/10 -- (2,906,299) Philippine Peso DBAB Buy 1,883,179,000 39,759,712 10/08/10 -- (945,578) Philippine Peso HSBC Buy 1,886,740,000 39,759,765 10/08/10 -- (872,235) Philippine Peso JPHQ Buy 939,542,000 19,879,859 10/08/10 -- (514,992) Philippine Peso CITI Buy 941,987,000 19,879,854 10/08/10 -- (464,594) Malaysian Ringgit CITI Buy 51,709,950 15,000,000 10/12/10 56,789 -- Malaysian Ringgit DBAB Buy 114,331,256 33,174,111 10/12/10 116,612 -- Philippine Peso DBAB Buy 560,732,000 11,927,930 10/12/10 -- (372,889) Malaysian Ringgit DBAB Buy 49,340,600 14,527,751 10/13/10 -- (161,189) Philippine Peso JPHQ Buy 2,620,334,000 55,942,126 10/13/10 -- (1,947,284) Philippine Peso HSBC Buy 934,950,000 19,879,864 10/13/10 -- (614,199) Chinese Yuan HSBC Buy 391,351,972 39,741,171 EUR 10/15/10 -- (1,579,595) Philippine Peso JPHQ Buy 315,900,000 6,735,608 10/15/10 -- (226,759) Chinese Yuan HSBC Buy 379,127,279 38,382,996 EUR 10/18/10 -- (1,345,431) Philippine Peso JPHQ Buy 1,048,980,000 22,452,002 10/18/10 -- (841,733) Chinese Yuan HSBC Buy 508,169,986 51,300,449 EUR 10/19/10 -- (1,579,046) Philippine Peso DBAB Buy 528,520,000 11,225,998 10/19/10 -- (338,355) Chinese Yuan HSBC Buy 314,000,000 47,586,573 10/21/10 -- (1,113,112) Philippine Peso DBAB Buy 2,112,730,000 44,903,932 10/21/10 -- (1,385,285) Philippine Peso JPHQ Buy 1,060,856,000 22,451,979 10/21/10 -- (600,148) Malaysian Ringgit JPHQ Buy 32,000,000 6,371,075 EUR 10/22/10 -- (219,903) Chinese Yuan HSBC Buy 343,208,767 52,129,282 10/25/10 -- (1,323,598) Philippine Peso HSBC Buy 3,175,168,000 66,635,215 10/25/10 -- (1,244,512) Philippine Peso DBAB Buy 2,114,557,000 44,423,466 10/25/10 -- (875,418) Philippine Peso JPHQ Buy 1,057,945,000 22,211,736 10/25/10 -- (423,986) Chilean Peso CITI Buy 8,534,203,142 16,170,920 10/26/10 1,171,614 -- Chinese Yuan HSBC Buy 582,413,784 88,215,108 10/26/10 -- (1,995,663) Euro DBAB Sell 175,760,000 259,597,520 10/26/10 -- (3,444,808) Euro BZWS Sell 69,060,000 103,320,666 10/26/10 -- (34,496) Indian Rupee HSBC Buy 910,702,000 19,156,542 10/26/10 38,358 -- Indian Rupee DBAB Buy 2,729,118,000 57,469,634 10/26/10 52,085 -- Norwegian Krone BZWS Buy 1,167,688,000 138,106,209 EUR 10/26/10 -- (4,454,982) Philippine Peso HSBC Buy 2,906,928,000 61,143,005 10/26/10 -- (1,279,375) Chinese Yuan HSBC Buy 348,030,387 52,608,327 10/27/10 -- (1,084,230) Euro UBSW Sell 139,330,000 208,653,642 10/27/10 135,358 -- Indian Rupee HSBC Buy 1,356,628,000 28,734,813 10/27/10 -- (142,923) Chilean Peso JPHQ Buy 5,648,899,000 10,754,686 10/28/10 723,855 -- Philippine Peso DBAB Buy 1,340,300,000 28,063,233 10/28/10 -- (464,461) Euro DBAB Sell 22,651,000 33,457,792 11/02/10 -- (438,355) Euro DBAB Sell 84,940,000 124,878,788 11/03/10 -- (2,228,111) Chinese Yuan HSBC Buy 337,830,359 50,761,864 11/04/10 -- (729,723) Euro DBAB Sell 65,121,000 95,483,666 11/05/10 -- (1,962,722)
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) Japanese Yen CITI Sell 9,190,446,650 101,571,762 11/08/10 -- (5,147,468) Japanese Yen BZWS Sell 9,028,069,000 100,807,515 11/10/10 -- (4,029,842) Japanese Yen BZWS Sell 12,407,760,000 138,471,737 11/12/10 -- (5,616,892) Japanese Yen UBSW Sell 9,153,053,700 102,235,630 11/12/10 -- (4,056,800) Malaysian Ringgit JPHQ Buy 338,000,000 100,000,000 11/12/10 -- (1,650,951) Japanese Yen DBAB Sell 10,792,263,000 120,482,981 11/15/10 -- (4,851,781) Japanese Yen JPHQ Sell 5,389,206,000 60,241,516 11/16/10 -- (2,346,527) Japanese Yen BZWS Sell 2,597,950,000 28,915,911 11/16/10 -- (1,255,622) Japanese Yen BZWS Sell 10,760,696,000 120,482,976 11/17/10 -- (4,489,540) Japanese Yen UBSW Sell 4,305,100,000 48,193,216 11/17/10 -- (1,805,332) Japanese Yen HSBC Sell 2,816,138,000 31,325,576 11/17/10 -- (1,380,473) Euro UBSW Sell 43,392,971 64,820,420 11/18/10 -- (100,535) Euro DBAB Sell 8,448,314 12,554,195 11/18/10 -- (85,470) Japanese Yen BZWS Sell 15,005,634,000 168,676,164 11/18/10 -- (5,599,227) Euro DBAB Sell 89,079,903 133,475,413 11/29/10 222,023 -- Japanese Yen BZWS Sell 16,955,472,000 192,772,752 11/29/10 -- (4,185,795) Japanese Yen BOFA Sell 11,637,164,000 131,326,438 11/29/10 -- (3,853,457) Japanese Yen CITI Sell 4,208,470,000 48,193,186 11/29/10 -- (693,341) Norwegian Krone UBSW Buy 737,164,000 86,214,987 EUR 11/29/10 -- (1,554,810) Philippine Peso HSBC Buy 3,967,995,500 83,300,000 11/30/10 -- (1,720,260) Swedish Krona BZWS Buy 1,266,479,512 122,442,066 EUR 11/30/10 -- (1,598,494) Euro DBAB Sell 49,698,563 74,037,937 12/01/10 -- (303,369) Euro UBSW Sell 41,865,000 62,326,519 12/01/10 -- (296,997) Japanese Yen DBAB Sell 10,434,667,000 120,482,952 12/01/10 -- (732,694) Norwegian Krone UBSW Buy 261,350,000 30,301,449 EUR 12/01/10 -- (159,331) Philippine Peso HSBC Buy 1,635,720,000 34,400,000 12/01/10 -- (793,056) Malaysian Ringgit HSBC Buy 300,000,000 88,482,525 12/02/10 -- (820,899) Mexican Peso CITI Sell 517,371,000 38,095,207 12/02/10 -- (153,632) ------------ ------------- Unrealized appreciation (depreciation) 428,654,991 (791,771,106) ------------ ------------- Net unrealized appreciation (depreciation) $(363,116,115) =============
At November 30, 2009, the Fund had the following interest rate swap contracts outstanding. See Note 3.
PAY/RECEIVE FLOATING FIXED NOTATIONAL EXPIRATION UNREALIZED UNREALIZED COUNTERPARTY RATE RATE FLOATING RATE AMOUNT(a) DATE APPRECIATION DEPRECIATION ------------ ----------- ------ ------------------------- -------------- ---------- ------------ ------------ JPHQ Pay 7.16% NZD Bank Bill Rate 53,000,000 NZD 7/31/13 $ 3,321,610 $ -- JPHQ Pay 7.12% NZD Bank Bill Rate 53,700,000 NZD 8/01/13 3,298,467 -- JPHQ Pay 7.055% NZD Bank Bill Rate 53,700,000 NZD 8/04/13 3,207,268 -- JPHQ Pay 7.035% NZD Bank Bill Rate 107,400,000 NZD 8/05/13 6,352,187 -- JPHQ Pay 7.05% NZD Bank Bill Rate 26,850,000 NZD 8/06/13 1,596,875 -- JPHQ Pay 7.05% NZD Bank Bill Rate 26,850,000 NZD 8/07/13 1,597,278 -- JPHQ Pay 7.00% NZD Bank Bill Rate 28,425,600 NZD 8/14/13 1,643,823 -- JPHQ Pay 5.23% NZD Bank Bill Rate 65,000,000 NZD 12/05/13 765,746 -- JPHQ Pay 6.46% Tasa Nominal Annual Rate 22,850,000,000 CLP 4/18/18 3,559,892 -- JPHQ Pay 6.45% Tasa Nominal Annual Rate 10,237,500,000 CLP 4/24/18 1,561,717 -- JPHQ Pay 6.40% Tasa Nominal Annual Rate 20,475,000,000 CLP 4/24/18 2,980,302 -- JPHQ Pay 6.42% Tasa Nominal Annual Rate 22,250,000,000 CLP 4/25/18 3,279,020 --
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) JPHQ Pay 6.45% Tasa Nominal Annual Rate 22,950,000,000 CLP 5/02/18 3,440,512 -- JPHQ Pay 6.61% Tasa Nominal Annual Rate 4,982,000,000 CLP 5/14/18 842,310 -- MLCO Pay 7.00% Tasa Nominal Annual Rate 4,800,000,000 CLP 6/11/18 1,317,748 -- MLCO Pay 7.094% Tasa Nominal Annual Rate 7,880,000,000 CLP 6/16/18 2,238,118 -- JPHQ Pay 9.50% MXN Interbank Equilibrium Interest Rate 1,541,000,000 MXN 10/09/18 11,703,962 -- JPHQ Pay 10.11% MXN Interbank Equilibrium Interest Rate 635,000,000 MXN 11/07/18 6,790,390 -- JPHQ Pay 10.078% MXN Interbank Equilibrium Interest Rate 355,000,000 MXN 11/09/18 3,734,065 -- JPHQ Pay 8.675% MXN Interbank Equilibrium Interest Rate 350,325,000 MXN 11/29/18 1,190,794 -- JPHQ Pay 5.59% NZD Bank Bill Rate 76,500,000 NZD 12/05/18 -- (264,908) CITI Pay 7.697% MXN Interbank Equilibrium Interest Rate 526,600,000 MXN 1/11/19 -- (964,782) CITI Pay 7.666% MXN Interbank Equilibrium Interest Rate 686,900,000 MXN 1/12/19 -- (1,366,250) CITI Pay 7.835% MXN Interbank Equilibrium Interest Rate 457,900,000 MXN 1/15/19 -- (421,221) CITI Pay 7.869% MXN Interbank Equilibrium Interest Rate 595,300,000 MXN 1/16/19 -- (494,145) CITI Pay 8.00% MXN Interbank Equilibrium Interest Rate 145,100,000 MXN 1/18/19 -- (19,102) JPHQ Pay 8.06% MXN Interbank Equilibrium Interest Rate 230,870,000 MXN 1/22/19 33,992 -- CITI Pay 8.07% MXN Interbank Equilibrium Interest Rate 725,510,000 MXN 1/22/19 144,499 -- JPHQ Pay 10.29% MXN Interbank Equilibrium Interest Rate 178,000,000 MXN 10/25/28 2,226,996 -- JPHQ Pay 10.28% MXN Interbank Equilibrium Interest Rate 75,000,000 MXN 10/27/28 931,051 -- JPHQ Pay 10.22% MXN Interbank Equilibrium Interest Rate 77,000,000 MXN 10/30/28 918,888 -- JPHQ Pay 8.317% MXN Interbank Equilibrium Interest Rate 346,300,000 MXN 1/09/29 -- (754,360) JPHQ Pay 9.12% MXN Interbank Equilibrium Interest Rate 3,250,000 MXN 2/01/29 12,571 -- ----------- ----------- Unrealized appreciation (depreciation) 68,690,081 (4,284,768) ----------- ----------- Net unrealized appreciation (depreciation) $64,405,313 ===========
(a) In U.S. dollars unless otherwise indicated. Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) CURRENCY AUD Australian Dollar BRL Brazilian Real EGP Egyptian Pound EUR Euro IDR Indonesian Rupiah ILS New Israeli Shekel JPY Japanese Yen KRW South Korean Won LKR Sri Lankan Rupee MXN Mexican Peso MYR Malaysian Ringgit NOK Norwegian Krone NZD New Zealand Dollar PEN Peruvian Nuevo Sol PLN Polish Zloty SEK Swedish Krona SELECTED PORTFOLIO AMBAC American Municipal Bond Assurance Corp. BHAC Berkshire Hathaway Assurance Corp. FHLB Federal Home Loan Bank FRN Floating Rate Note FSA Financial Security Assurance Inc. GO General Obligation ID Improvement District ISD Independent School District MTA Metropolitan Transit Authority NATL National Public Financial Guarantee Corp. USD Unified/Union School District COUNTERPARTY BOFA Bank of America N.A BZWS Barclays Bank PLC CITI Citibank N.A. DBAB Deutsche Bank AG FBCO Credit Suisse International HSBC HSBC Bank USA JPHQ JPMorgan Chase Bank, N.A. UBSW UBS AG Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED)
PRINCIPAL (a) AMOUNT VALUE -------------- ------------ TEMPLETON GLOBAL TOTAL RETURN FUND BONDS 95.8% ARGENTINA 2.6% Government of Argentina, (b, c) senior bond, FRN, 0.943%, 8/03/12 11,007,000 $ 3,472,708 (d) GDP Linked Securities, 12/15/35 32,230,000 2,723,435 ------------ 6,196,143 ------------ AUSTRALIA 5.2% (e) Government of Australia, TB123, 5.75%, 4/15/12 2,440,000 AUD 2,292,172 New South Wales Treasury Corp., 19RG, 6.00%, 4/01/19 542,000 AUD 499,111 Queensland Treasury Corp., 11, 6.00%, 6/14/11 4,470,000 AUD 4,174,915 13, 6.00%, 8/14/13 4,400,000 AUD 4,122,343 Westpac Banking Corp., senior note, 4.20%, 2/27/15 400,000 414,506 (f) Woodside Finance Ltd., 144A, 4.50%, 11/10/14 700,000 717,539 ------------ 12,220,586 ------------ BERMUDA 0.1% Intelsat Subsidiary Holding Co. Ltd., senior note, 8.50%, 1/15/13 300,000 302,625 ------------ BOSNIA & HERZEGOVINA 0.1% (b) Government of Bosnia & Herzegovina, senior bond, FRN, 0.00%, 12/11/17 350,000 EUR 189,406 ------------ BRAZIL 6.3% (f) Centrais Eletricas Brasileiras SA, senior note, 144A, 6.875%, 7/30/19 280,000 299,250 Nota Do Tesouro Nacional, 9.609%, 1/01/12 13,720(g) BRL 7,569,956 9.609%, 1/01/17 800(g) BRL 390,403 (h) Index Linked, 6.00%, 5/15/11 180(g) BRL 191,596 (h) Index Linked, 6.00%, 5/15/15 5,785(g) BRL 5,909,434 (h) Index Linked, 6.00%, 5/15/45 400(g) BRL 390,654 ------------ 14,751,293 ------------ CANADA 0.7% Novelis Inc., senior note, 7.25%, 2/15/15 200,000 181,500 (f) 144A, 11.50%, 2/15/15 100,000 104,500 (f) OPTI Canada Inc., senior secured note, 144A, 9.00%, 12/15/12 100,000 100,250 Province of Ontario, 6.25%, 6/16/15 1,510,000 NZD 1,108,440 Quebecor Media Inc., senior note, 7.75%, 3/15/16 200,000 194,000 Teck Resources Ltd., senior secured note, 10.75%, 5/15/19 50,000 58,625 ------------ 1,747,315 ------------ CROATIA 1.9% (f) Government of Croatia, 144A, 6.75%, 11/05/19 4,070,000 4,401,013 ------------ FIJI 0.2% Republic of Fiji, 6.875%, 9/13/11 400,000 395,867 ------------ FRANCE 0.2% (f, i) BNP Paribas, 144A, 7.195%, Perpetual 200,000 186,000 Compagnie Generale de Geophysique-Veritas, senior note, 7.75%, 5/15/17 250,000 248,438 (f) 144A, 9.50%, 5/15/16 50,000 52,750 ------------ 487,188 ------------ GERMANY 1.1% KfW Bankengruppe, 4.66%, 1/05/12 8,500,000 NOK 1,559,703 senior note, 18.50%, 2/11/10 4,500,000 EGP 839,693
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) (f) UPC Germany GmbH, senior note, 144A, 9.625%, 12/01/19 100,000 EUR $ 149,755 ------------ 2,549,151 ------------ HUNGARY 0.2% Government of Hungary, 3.50%, 7/18/16 10,000 EUR 13,978 4.375%, 7/04/17 105,000 EUR 153,237 5.75%, 6/11/18 195,000 EUR 303,366 senior note, 3.875%, 2/24/20 20,000 EUR 26,484 ------------ 497,065 ------------ INDONESIA 7.1% Government of Indonesia, (e) FR31, 11.00%, 11/15/20 5,209,000,000 IDR 574,340 (e) FR34, 12.80%, 6/15/21 34,188,000,000 IDR 4,176,324 FR35, 12.90%, 6/15/22 440,000,000 IDR 53,866 (e) FR36, 11.50%, 9/15/19 31,600,000,000 IDR 3,617,875 FR39, 11.75%, 8/15/23 3,750,000,000 IDR 424,378 FR40, 11.00%, 9/15/25 19,750,000,000 IDR 2,120,174 FR43, 10.25%, 7/15/22 110,000,000 IDR 11,314 FR44, 10.00%, 9/15/24 2,400,000,000 IDR 239,873 FR47, 10.00%, 2/15/28 26,890,000,000 IDR 2,652,029 FR52, 10.50%, 8/15/30 24,050,000,000 IDR 2,448,242 (f) senior bond, 144A, 8.50%, 10/12/35 200,000 236,250 (f) senior bond, 144A, 7.75%, 1/17/38 100,000 108,800 ------------ 16,663,465 ------------ IRAQ 0.1% (f) Government of Iraq, 144A, 5.80%, 1/15/28 250,000 187,350 ------------ ISRAEL 2.9% Government of Israel, 2680, 7.00%, 4/29/11 24,055,000 ILS 6,780,487 ------------ ITALY 0.2% Telecom Italia Capital SA, senior note, 4.95%, 9/30/14 500,000 528,427 (f) Wind Acquisition Finance SA, senior note, 144A, 10.75%, 12/01/15 50,000 53,750 11.75%, 7/15/17 100,000 111,500 ------------ 693,677 ------------ JAMAICA 0.1% (f) Digicel Group Ltd., senior note, 144A, 8.875%, 1/15/15 300,000 292,875 ------------ KAZAKHSTAN 0.8% HSBK (Europe) BV, (f) 144A, 7.25%, 5/03/17 200,000 171,500 (j) Reg S, 7.25%, 5/03/17 100,000 87,051 (f) KazMunaiGaz Finance Sub BV, senior note, 144A, 11.75%, 1/23/15 1,300,000 1,547,000 ------------ 1,805,551 ------------ LITHUANIA 1.0% (f) Government of Lithuania, 144A, 6.75%, 1/15/15 2,320,000 2,346,100 ------------ MEXICO 4.0% (f) Alestra SA, senior note, 144A, 11.75%, 8/11/14 200,000 223,250 Government of Mexico, M 10, 7.75%, 12/14/17 185,000(j) MXN 1,428,948 M 20, 10.00%, 12/05/24 730,000(j) MXN 6,585,786 M 30, 10.00%, 11/20/36 118,000(j) MXN 1,063,834 senior bond, 5.95%, 3/19/19 150,000 163,687 ------------ 9,465,505 ------------ NETHERLANDS 0.1% (f) Intergen NV, senior secured note, 144A, 9.00%, 6/30/17 200,000 208,500 (f) UPC Holding BV, senior note, 144A, 9.875%, 4/15/18 50,000 52,000 ------------ 260,500 ------------
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) NORWAY 5.1% (e) Government of Norway, 6.00%, 5/16/11 65,350,000 NOK $ 12,108,172 ------------ PERU 0.3% Government of Peru, 7.35%, 7/21/25 550,000 653,125 ------------ POLAND 5.2% Government of Poland, 4.25%, 5/24/11 660,000 PLN 237,312 4.75%, 4/25/12 24,945,000 PLN 8,972,904 5.75%, 4/25/14 5,625,000 PLN 2,036,913 1013, 5.00%, 10/24/13 1,620,000 PLN 575,432 senior note, 6.375%, 7/15/19 300,000 333,262 (f) TVN Finance Corp. PLC, senior note, 144A, 10.75%, 11/15/17 100,000 EUR 152,767 ------------ 12,308,590 ------------ QATAR 1.5% (f) CBQ Finance Ltd., senior note, 144A, 5.00%, 11/18/14 3,420,000 3,351,600 (f) Government of Qatar, senior note, 144A, 6.55%, 4/09/19 170,000 187,748 ------------ 3,539,348 ------------ RUSSIA 4.3% Gaz Capital SA, senior note, (f) 144A, 6.51%, 3/07/22 2,860,000 2,616,900 (j) Reg S, 6.51%, 3/07/22 170,000 156,842 (f) Government of Russia, 144A, 7.50%, 3/31/30 3,254,280 3,677,824 LUKOIL International Finance BV, (f) 144A, 6.656%, 6/07/22 430,000 402,050 (j) Reg S, 6.656%, 6/07/22 2,400,000 2,267,763 (j) TNK-BP Finance SA, senior note, Reg S, 7.875%, 3/13/18 420,000 422,100 (f) VTB Capital SA, senior note, 144A, 6.25%, 6/30/35 610,000 582,550 ------------ 10,126,029 ------------ SOUTH AFRICA 0.2% Government of South Africa, 4.50%, 4/05/16 100,000 EUR 148,337 6.875%, 5/27/19 120,000 133,950 senior note, 6.50%, 6/02/14 30,000 33,100 senior note, 5.875%, 5/30/22 200,000 203,875 ------------ 519,262 ------------ SOUTH KOREA 16.0% Korea Treasury Bond, 0400-1206, 4.00%, 6/10/12 20,330,000,000 KRW 17,402,881 0475-1112, 4.75%, 12/10/11 3,240,000,000 KRW 2,821,353 0475-1203, 4.75%, 3/10/12 1,850,000,000 KRW 1,610,132 0525-1303, 5.25%, 3/10/13 13,500,000,000 KRW 11,890,306 0550-1106, 5.50%, 6/10/11 3,610,300,000 KRW 3,189,524 0575-1309, 5.75%, 9/10/13 590,000,000 KRW 528,108 senior note, 7.125%, 4/16/19 140,000 166,628 ------------ 37,608,932 ------------ SPAIN 0.3% (f) Campofrio Food Group SA, senior note, 144A, 8.25%, 10/31/16 200,000 EUR 298,045 (f) Codere Finance SA, senior note, 144A, 8.25%, 6/15/15 300,000 EUR 386,120 ------------ 684,165 ------------ SRI LANKA 2.4% Government of Sri Lanka, A, 8.50%, 1/15/13 69,500,000 LKR 582,416 A, 13.50%, 2/01/13 64,600,000 LKR 616,051 A, 11.25%, 7/15/14 154,200,000 LKR 1,380,663 A, 11.00%, 8/01/15 148,900,000 LKR 1,317,095 B, 11.00%, 9/01/15 185,500,000 LKR 1,649,072 ------------ 5,545,297 ------------
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) (l) SUPRANATIONAL 1.6% African Development Bank, 21.50%, 8/24/11 2,100,000 GHS $ 1,558,446 senior note, 340, 25.50%, 6/24/11 340,000 GHS 263,731 Corporacion Andina De Fomento, 8.125%, 6/04/19 280,000 332,990 European Investment Bank, senior note, 5.375%, 7/16/12 8,200,000 NOK 1,522,129 ------------ 3,677,296 ------------ SWEDEN 6.6% Government of Sweden, 5.25%, 3/15/11 101,400,000 SEK 15,423,328 ------------ SWITZERLAND 0.0%(j) (f) Petroplus Finance Ltd., senior note, 144A, 6.75%, 5/01/14 50,000 46,788 ------------ TRINIDAD AND TOBAGO 0.3% Petro Co. of Trinidad and Tobago Ltd., senior note, (f) 144A, 9.75%, 8/14/19 450,000 509,929 (j) Reg S, 9.75%, 8/14/19 150,000 169,976 ------------ 679,905 ------------ UNITED ARAB EMIRATES 0.1% (f) DP World Ltd., 144A, 6.85%, 7/02/37 130,000 96,741 (f) Emirate of Abu Dhabi, 144A, 6.75%, 4/08/19 170,000 187,944 ------------ 284,685 ------------ UNITED KINGDOM 0.9% (f) British Sky Broadcasting Group PLC, senior note, 144A, 6.10%, 2/15/18 300,000 327,068 (f) Ceva Group PLC, senior secured note, 144A, 10.00%, 9/01/14 200,000 189,750 11.625%, 10/01/16 200,000 205,250 HSBC Holdings PLC, sub. note, 6.50%, 9/15/37 300,000 322,401 (f) Ineos Group Holdings PLC, senior secured note, 144A, 8.50%, 2/15/16 75,000 49,875 Royal Bank of Scotland Group PLC, senior note, 6.40%, 10/21/19 500,000 510,088 (f) Royal Bank of Scotland PLC, senior note, 144A, 4.875%, 8/25/14 500,000 516,557 ------------ 2,120,989 ------------ UNITED STATES 12.2% (f) Advanced Micro Devices Inc., senior note, 144A, 8.125%, 12/15/17 100,000 94,875 (f) Alliance One International Inc., senior note, 144A, 10.00%, 7/15/16 100,000 105,500 (f) Allison Transmission Inc., senior note, 144A, 11.00%, 11/01/15 300,000 312,000 Ameren Corp., senior note, 8.875%, 5/15/14 300,000 339,776 American Express Credit Corp., senior note, 5.125%, 8/25/14 200,000 213,274 C, 7.30%, 8/20/13 100,000 113,702 (f) Antero Resources Finance, senior note, 144A, 9.375%, 12/01/17 100,000 100,750 ARAMARK Corp., senior note, 8.50%, 2/01/15 300,000 302,250 (f) Associated Materials LLC, senior secured note, 144A, 9.875%, 11/15/16 200,000 210,000 Ball Corp., senior note, 7.375%, 9/01/19 200,000 205,500 Bank of America Corp., (i) pfd., sub. bond, M, 8.125%, Perpetual 250,000 218,060 senior note, 5.65%, 5/01/18 300,000 303,049 Berry Petroleum Co., senior note, 10.25%, 6/01/14 200,000 215,000 (f) Cantor Fitzgerald LP, 144A, 7.875%, 10/15/19 400,000 409,348 Capital One Bank, sub. note, 8.80%, 7/15/19 300,000 356,127 (f) Cargill Inc., 144A, 5.20%, 1/22/13 100,000 107,965 Case New Holland Inc., senior note, 7.125%, 3/01/14 200,000 198,500 CCH II LLC, senior note, 10.25%, 9/15/10 50,000 55,538 (e, f) CEDC Finance Corp. International Inc., senior secured note, 144A, 9.125%, 12/01/16 100,000 100,500 Chesapeake Energy Corp., senior note, 6.25%, 1/15/18 400,000 362,000 Citigroup Inc., senior note, 6.375%, 8/12/14 300,000 316,016 senior note, 6.125%, 11/21/17 100,000 100,689 senior note, 8.125%, 7/15/39 100,000 110,545 sub. note, 5.00%, 9/15/14 200,000 194,659 CMS Energy Corp., senior note, 8.75%, 6/15/19 50,000 55,266 Coventry Health Care Inc., senior note, 5.95%, 3/15/17 200,000 186,052 (f) Delta Air Lines Inc., senior secured note, 144A, 9.50%, 9/15/14 300,000 305,250 (m) Dex Media West Finance, senior sub. note, 9.875%, 8/15/13 100,000 31,750
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) Discover Bank, sub. note, 8.70%, 11/18/19 700,000 $ 739,379 Duke Energy Corp., senior note, 5.05%, 9/15/19 400,000 411,262 Duke Realty LP, senior note, 7.375%, 2/15/15 400,000 428,171 Dynegy Holdings Inc., senior note, 8.375%, 5/01/16 400,000 369,000 EchoStar DBS Corp., senior note, 7.75%, 5/31/15 100,000 102,000 7.125%, 2/01/16 50,000 49,750 El Paso Corp., senior note, 7.00%, 6/15/17 200,000 197,088 (f) Enogex LLC, senior note, 144A, 6.25%, 3/15/20 750,000 762,022 (b) Enterprise Products Operating LLC, junior sub. note, FRN, 7.034%, 1/15/68 50,000 46,006 (f) FelCor Lodging Trust Inc., senior secured note, 144A, 10.00%, 10/01/14 200,000 196,000 Ford Motor Credit Co. LLC, senior note, 9.875%, 8/10/11 150,000 155,250 7.50%, 8/01/12 200,000 198,302 Forest City Enterprises Inc., senior note, 7.625%, 6/01/15 100,000 85,500 Freescale Semiconductor Inc., senior note, 8.875%, 12/15/14 300,000 256,500 General Electric Capital Corp., senior note, A, 7.625%, 12/10/14 950,000 NZD 721,490 (f) General Maritime Corp., senior note, 144A, 12.00%, 11/15/17 100,000 103,000 (f) GMAC LLC, senior note, 144A, 6.875%, 9/15/11 431,000 419,147 The Goldman Sachs Group Inc., sub. note, 6.75%, 10/01/37 300,000 310,147 (f) Harrah's Operating Co. Inc., senior secured note, 144A, 11.25%, 6/01/17 150,000 154,125 (f) Harrah's Operating Escrow, senior secured note, 144A, 11.25%, 6/01/17 250,000 256,250 HCA Inc., senior secured note, 9.125%, 11/15/14 250,000 261,875 (f) 144A, 7.875%, 2/15/20 100,000 102,750 (f) Holly Corp., senior note, 144A, 9.875%, 6/15/17 100,000 104,250 (f) Host Hotels & Resorts LP, senior note, 144A, 9.00%, 5/15/17 50,000 52,875 Huntsman International LLC, (f) senior note, 144A, 5.50%, 6/30/16 100,000 87,250 senior sub. note, 7.875%, 11/15/14 100,000 95,250 Jarden Corp., senior sub. note, 7.50%, 5/01/17 300,000 298,500 (f) JBS USA LLC, senior note, 144A, 11.625%, 5/01/14 150,000 167,250 (f) JohnsonDiversey Holdings Inc., senior note, 144A, 10.50%, 5/15/20 200,000 193,000 JohnsonDiversey Inc., senior sub. note, 9.625%, 5/15/12 50,000 EUR 76,191 Jostens IH Corp., senior sub. note, 7.625%, 10/01/12 300,000 303,000 JPMorgan Chase & Co., 6.00%, 1/15/18 150,000 162,971 (i) junior sub. note, 1, 7.90%, Perpetual 400,000 392,382 Lamar Media Corp., senior sub. note, 7.25%, 1/01/13 150,000 148,125 LIN Television Corp., senior sub. note, 6.50%, 5/15/13 200,000 188,000 (f) MacDermid Inc., senior sub. note, 144A, 9.50%, 4/15/17 100,000 99,500 Mariner Energy Inc., senior note, 7.50%, 4/15/13 300,000 295,500 MarkWest Energy Partners LP, senior note, (f) 144A, 6.875%, 11/01/14 100,000 93,500 B, 6.875%, 11/01/14 200,000 187,000 Merrill Lynch & Co. Inc., 6.875%, 4/25/18 500,000 537,518 (b, f) MetLife Capital Trust X, secured bond, 144A, FRN, 9.25%, 4/08/68 200,000 210,000 MetroPCS Wireless Inc., senior note, 9.25%, 11/01/14 250,000 251,875 MGM MIRAGE, senior note, 6.625%, 7/15/15 100,000 75,000 6.875%, 4/01/16 200,000 150,000 Michaels Stores Inc., senior note, 10.00%, 11/01/14 200,000 205,000 Morgan Stanley, senior note, 6.625%, 4/01/18 300,000 326,209 (f) New York City Industrial Develoment Agency, 144A, 11.00%, 3/01/29 300,000 324,015 (f) NewPage Corp., senior secured note, 144A, 11.375%, 12/31/14 300,000 297,000 (f) Norwegian Cruise Line Ltd., senior secured note, 144A, 11.75%, 11/15/16 300,000 297,375 NRG Energy Inc., senior note, 7.375%, 2/01/16 300,000 299,250 Owens-Brockway Glass Container Inc., senior note, 7.375%, 5/15/16 50,000 50,875 Peabody Energy Corp., senior note, B, 6.875%, 3/15/13 50,000 50,750 Pinnacle Entertainment Inc., (f) senior note, 144A, 8.625%, 8/01/17 100,000 100,000 senior sub. note, 7.50%, 6/15/15 50,000 44,750 Plains All American Pipeline LP, senior note, 5.75%, 1/15/20 400,000 416,651 Plains Exploration & Production Co., senior note, 7.625%, 6/01/18 300,000 294,000 PNC Funding Corp., sub. note, 5.625%, 2/01/17 1,000,000 1,016,602 Quicksilver Resources Inc., senior note, 11.75%, 1/01/16 200,000 223,250 RBS Global & Rexnord Corp., senior note, 9.50%, 8/01/14 200,000 200,000 Reinsurance Group of America Inc., senior note, 6.45%, 11/15/19 600,000 620,738 Rite Aid Corp., senior secured note, 9.75%, 6/12/16 100,000 108,500
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) Royal Caribbean Cruises Ltd., senior note, 7.25%, 6/15/16 150,000 $ 141,660 RSC Equipment Rental Inc., senior note, 9.50%, 12/01/14 100,000 98,375 (f) senior secured note, 144A, 10.00%, 7/15/17 100,000 108,250 (f) SandRidge Energy Inc., senior note, 144A, 9.875%, 5/15/16 200,000 206,000 Sanmina-SCI Corp., senior sub. note, 8.125%, 3/01/16 200,000 195,500 (f) Sinclair Television Group Inc., senior secured note, 144A, 9.25%, 11/01/17 200,000 203,500 Solo Cup Co., (f) senior secured note, 144A, 10.50%, 11/01/13 150,000 159,000 senior sub. note, 8.50%, 2/15/14 50,000 48,375 Solutia Inc., senior note, 8.75%, 11/01/17 100,000 104,500 Starwood Hotels & Resorts Worldwide Inc., senior note, 7.15%, 12/01/19 200,000 196,827 SunGard Data Systems Inc., senior sub. note, 10.25%, 8/15/15 350,000 360,500 (f) Talecris Biotherapeutics Holdings Corp., senior note, 144A, 7.75%, 11/15/16 200,000 205,000 Tesoro Corp., senior note, 9.75%, 6/01/19 150,000 153,000 Texas Competitive Electric Holdings Co. LLC, senior note, A, 10.25%, 11/01/15 400,000 286,000 Time Warner Inc., 7.625%, 4/15/31 400,000 465,531 UBS AG Stamford, senior note, 5.875%, 12/20/17 400,000 416,019 (o) United Surgical Partners International Inc., senior sub. note, PIK, 9.25%, 5/01/17 100,000 101,500 (f) Universal City Development, senior sub. note, 144A, 10.875%, 11/15/16 300,000 302,250 (f) Univision Communications Inc., senior secured note, 144A, 12.00%, 7/01/14 100,000 108,750 (f) US Oncology Inc., senior secured note, 144A, 9.125%, 8/15/17 300,000 314,250 Vanguard Health Holding Co. II LLC, senior sub. note, 9.00%, 10/01/14 300,000 310,500 Viacom Inc., 5.625%, 9/15/19 200,000 214,085 senior note, 6.875%, 4/30/36 200,000 216,950 (f) ViaSat Inc., senior note, 144A, 8.875%, 9/15/16 100,000 102,500 (f) WEA Finance/WT Finance Australia, 144A, 5.75%, 9/02/15 400,000 417,305 Weatherford International Ltd., senior note, 6.00%, 3/15/18 300,000 315,649 Wells Fargo & Co., senior note, 5.625%, 12/11/17 200,000 209,163 (i) Wells Fargo Capital XV, pfd., 9.75%, Perpetual 400,000 426,000 Weyerhaeuser Co., senior note, 7.375%, 10/01/19 200,000 209,554 (f) WMG Acquisition Corp., senior secured note, 144A, 9.50%, 6/15/16 100,000 108,000 Yum! Brands Inc., senior note, 5.30%, 9/15/19 1,000,000 1,033,427 ------------ 28,730,777 ------------ VENEZUELA 3.9% Government of Venezuela, 10.75%, 9/19/13 1,440,000 1,332,000 (j) senior bond, Reg S, 5.375%, 8/07/10 485,000 476,512 Petroleos de Venezuela SA, senior bond, zero cpn., 7/10/11 9,220,000 7,387,525 ------------ 9,196,037 ------------ VIETNAM 0.0%(n) (j) Government of Vietnam, Reg S, 6.875%, 1/15/16 100,000 103,000 ------------ TOTAL BONDS (COST $215,255,881) 225,588,887 ------------ MUNICIPAL BONDS 0.5% Bay Area Toll Authority Toll Bridge Revenue, San Francisco Bay Area, Refunding, Series F-1, 5.00%, 4/01/39 25,000 24,884 District of Columbia University Revenue, Georgetown University, Refunding, Series D, BHAC Insured, 5.50%, 4/01/36 15,000 16,229 Indianapolis Local Public Improvement Bond Bank Revenue, Waterworks Project, Series A, Assured Guaranty, 5.50%, 1/01/38 500,000 535,750 Kentucky State Municipal Power Agency Power System Revenue, Prairie State Project, Series A, BHAC Insured, 5.25%, 9/01/42 25,000 25,882 Las Vegas Valley Water District GO, Refunding, Series A, NATL Insured, 5.00%, 6/01/26 15,000 15,435 Lewisville ISD, GO, School Building, 5.00%, 8/15/26 25,000 27,047 Los Angeles USD, GO, Series I, 5.00%, 7/01/26 10,000 10,449 7/01/27 10,000 10,385 Minneapolis Health Care System Revenue, Fairview Health Services, Series B, Assured Guaranty, 6.50%, 11/15/38 50,000 55,471 MTA Revenue, Series B, Assured Guaranty, 5.25%, 11/15/20 20,000 22,597 Transportation, Series A, FSA Insured, 5.50%, 11/15/21 15,000 17,213 Palomar Pomerado Health GO, Election of 2004, Series A, NATL Insured, 5.125%, 8/01/37 85,000 78,763
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) Placentia-Yorba Linda USD, GO, 2008 Election, Series A, 5.25%, 8/01/32 55,000 $ 56,655 Poway USD, GO, Election of 2008, ID 07-1-A, zero cpn., 8/01/27 10,000 3,520 8/01/30 10,000 2,787 8/01/32 10,000 2,362 8/01/33 5,000 1,093 Regional Transportation District Sales Tax Revenue, Fastracks Project, Series A, AMBAC Insured, 5.00%, 11/01/27 25,000 26,635 San Bernardino Community College District GO, Election of 2002, Series A, 6.375%, 8/01/26 5,000 5,834 6.50%, 8/01/27 5,000 5,887 6.50%, 8/01/28 5,000 5,851 San Mateo County Community College District GO, Election of 2001, Series C, NATL Insured, zero cpn., 9/01/30 40,000 11,907 3/01/31 10,000 2,829 Tarrant County Cultural Education Facilities Finance Corp. Revenue, Christus Health, Refunding, Series A, Assured Guaranty, 6.25%, 7/01/28 40,000 44,694 Tulare Sewer Revenue, Building America Bonds, Series B, FSA Insured, 8.75%, 11/15/44 165,000 165,746 ------------ TOTAL MUNICIPAL BONDS (COST $1,085,630) 1,175,905 ------------
SHARES ------------- PREFERRED STOCKS (COST $2,130) 0.0%(n) UNITED STATES 0.0%(j) (f) GMAC Inc., 7.00%, pfd., 144A 6 3,631 ------------ TOTAL INVESTMENTS BEFORE SHORT TERM INVESTMENTS (COST $216,343,641) 226,768,423 ------------
PRINCIPAL AMOUNT(a) -------------- SHORT TERM INVESTMENTS 5.1% FOREIGN GOVERNMENT AND AGENCY SECURITIES (COST $1,291,969) 0.6% ISRAEL 0.6% (p) Israel Treasury Bill, 10/6/10 4,875,000 ILS 1,269,766 ------------ TOTAL INVESTMENTS BEFORE MONEY MARKET FUNDS (COST $217,635,610) 228,038,189
SHARES -------------- MONEY MARKET FUNDS (COST $10,668,411) 4.5% UNITED STATES 4.5% (q) Institutional Fiduciary Trust Money Market Portfolio, 0.00% 10,668,411 10,668,411 ------------ TOTAL INVESTMENTS (COST $228,304,021) 101.4% 238,706,600 OTHER ASSETS, LESS LIABILITIES (1.4)% (3,202,455) ------------ NET ASSETS 100.0% $235,504,145 ============
(a) The principal amount is stated in U.S. dollars unless otherwise indicated. (b) The coupon rate shown represents the rate at period end. (c) The principal amount is stated in original face, and scheduled paydowns are reflected in the market price on ex-date. (d) Security is linked to the Argentine GDP and does not pay principal over the life of the security or at expiration. Security entitles the holder to receive only variable income payments, subject to certain conditions, which are based on growth of the Argentine GDP and the principal or "notional" value of this GDP linked security. (e) A portion or all of the security purchased on a delayed delivery basis. (f) Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and 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. These securities have been deemed liquid under guidelines approved by the Trust's Board of Trustees. At November 30, 2009, the aggregate value of these securities was $33,339,371, representing 14.16% of net assets. (g) Principal amount is stated in 1,000 Brazilian Real Units. (h) Redemption price at maturity is adjusted for inflation. Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) (i) Perpetual security with no stated maturity date. (j) Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security 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. These securities have been deemed liquid under guidelines approved by the Trust's Board of Trustees. At November 30, 2009, the aggregate value of these securities was $3,683,244, representing 1.56% of net assets. (k) Principal amount is stated in 100 Mexican Peso Units. (l) A supranational organization is an entity formed by two or more central governments through international treaties. (m) Defaulted security or security for which income has been deemed uncollectible. (n) Rounds to less than 0.1% of net assets. (o) Income may be received in additional securities and/or cash. (p) The security is traded on a discount basis with no stated coupon rate. (q) The Institutional Fiduciary Trust Money Market Portfolio is managed by the Fund's investment manager. The rate shown is the annualized seven-day yield at period end. At November 30, 2009, the Fund had the following forward exchange contracts outstanding. See Note 3.
CONTRACT SETTLEMENT UNREALIZED UNREALIZED CURRENCY COUNTERPARTY TYPE QUANTITY AMOUNT(a) DATE APPRECIATION DEPRECIATION ------------------ ------------ ---- ------------- ---------- ---------- ------------ ------------ Mexican Peso CITI Sell 798,000 58,904 12/01/09 $ -- $ (2,786) Mexican Peso CITI Buy 798,000 61,865 12/01/09 -- (176) New Zealand Dollar BZWS Sell 312,459 193,100 12/02/09 -- (30,633) New Zealand Dollar DBAB Sell 80,807 49,152 12/02/09 -- (8,709) New Zealand Dollar FBCO Sell 26,666 16,492 12/02/09 -- (2,602) New Zealand Dollar FBCO Buy 26,666 19,066 12/02/09 320 -- New Zealand Dollar BZWS Buy 312,459 223,096 12/02/09 4,061 -- New Zealand Dollar DBAB Buy 80,807 57,817 12/02/09 929 -- Chinese Yuan HSBC Buy 68,000 7,383 EUR 12/04/09 -- (1,124) Chinese Yuan HSBC Buy 54,000 7,387 12/04/09 523 -- Euro UBSW Sell 4,392 5,553 12/08/09 -- (1,040) Euro UBSW Buy 4,392 6,160 12/08/09 433 -- Chinese Yuan HSBC Buy 603,283 85,330 12/17/09 3,055 -- Malaysian Ringgit JPHQ Buy 305,481 85,330 12/17/09 4,526 -- Chinese Yuan HSBC Buy 1,814,430 255,990 12/18/09 9,839 -- Chinese Yuan HSBC Buy 493,202 70,357 12/21/09 1,904 -- Malaysian Ringgit JPHQ Buy 365,553 102,396 12/21/09 5,109 -- Malaysian Ringgit HSBC Buy 187,519 52,768 12/21/09 2,379 -- Chinese Yuan HSBC Buy 7,353,421 1,839,036 NZD 12/22/09 -- (237,384) Chinese Yuan HSBC Buy 580,090 83,346 12/22/09 1,647 -- Malaysian Ringgit HSBC Buy 298,612 85,362 12/22/09 2,452 -- Malaysian Ringgit HSBC Buy 237,354 68,264 12/23/09 1,532 -- Malaysian Ringgit HSBC Buy 268,544 76,797 12/28/09 2,150 -- Euro DBAB Sell 419,600 588,384 1/04/10 -- (41,488)
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) Euro UBSW Sell 368,000 509,489 1/11/10 -- (42,912) Philippine Peso JPHQ Buy 111,869,000 2,396,972 1/13/10 -- (38,507) Philippine Peso HSBC Buy 10,377,000 222,922 1/15/10 -- (4,194) Philippine Peso DBAB Buy 5,918,000 127,378 1/15/10 -- (2,638) Philippine Peso JPHQ Buy 14,778,000 318,450 1/19/10 -- (7,083) Philippine Peso DBAB Buy 3,703,000 79,617 1/19/10 -- (1,596) Euro CITI Sell 137,500 196,325 1/27/10 -- (10,063) Japanese Yen DBAB Buy 150,000,000 1,299,264 EUR 1/28/10 -- (213,783) Japanese Yen DBAB Sell 150,000,000 1,132,931 EUR 1/28/10 -- (35,882) Swedish Krona DBAB Buy 9,800,000 926,714 EUR 1/28/10 14,758 -- Euro UBSW Sell 2,559,000 3,590,917 1/29/10 -- (250,124) Euro DBAB Sell 921,000 1,301,769 1/29/10 -- (80,646) Mexican Peso CITI Sell 806,000 59,126 1/29/10 -- (2,703) New Zealand Dollar UBSW Sell 126,129 82,097 1/29/10 -- (7,833) Singapore Dollar HSBC Sell 746,000 497,486 1/29/10 -- (41,083) Singapore Dollar BZWS Sell 186,000 123,605 1/29/10 -- (10,677) Singapore Dollar UBSW Sell 186,000 123,622 1/29/10 -- (10,660) Singapore Dollar HSBC Buy 746,000 538,055 1/29/10 515 -- Singapore Dollar BZWS Buy 186,000 133,458 1/29/10 824 -- Singapore Dollar UBSW Buy 186,000 133,347 1/29/10 935 -- New Zealand Dollar DBAB Sell 310,724 157,084 2/02/10 -- (64,403) Singapore Dollar HSBC Sell 187,000 124,445 2/02/10 -- (10,554) Singapore Dollar BZWS Sell 75,000 49,900 2/02/10 -- (4,244) Singapore Dollar BZWS Buy 75,000 53,814 2/02/10 330 -- Singapore Dollar HSBC Buy 187,000 134,595 2/02/10 404 -- Mexican Peso CITI Sell 2,795,400 205,839 2/03/10 -- (8,463) Mexican Peso CITI Buy 2,795,400 186,319 2/03/10 27,983 -- Singapore Dollar HSBC Sell 234,000 155,380 2/03/10 -- (13,548) Singapore Dollar HSBC Buy 234,000 168,424 2/03/10 504 -- Euro DBAB Sell 900,000 1,273,824 2/04/10 -- (77,025) Mexican Peso HSBC Sell 2,350,000 172,424 2/04/10 -- (7,710) Mexican Peso UBSW Sell 1,880,000 137,880 2/04/10 -- (6,227) Mexican Peso HSBC Buy 2,350,000 155,177 2/04/10 24,956 -- Mexican Peso UBSW Buy 1,880,000 124,318 2/04/10 19,789 --
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) Singapore Dollar HSBC Sell 235,000 155,181 2/04/10 -- (14,467) Singapore Dollar HSBC Buy 235,000 168,390 2/04/10 1,258 -- Singapore Dollar HSBC Sell 188,000 124,516 2/05/10 -- (11,202) Singapore Dollar HSBC Buy 188,000 134,712 2/05/10 1,005 -- Mexican Peso DBAB Sell 18,432,524 1,381,282 2/08/10 -- (30,910) Singapore Dollar JPHQ Sell 148,000 98,306 2/08/10 -- (8,532) Singapore Dollar JPHQ Buy 148,000 106,124 2/08/10 715 -- Singapore Dollar JPHQ Sell 187,000 124,186 2/09/10 -- (10,804) Singapore Dollar JPHQ Buy 187,000 134,445 2/09/10 546 -- Euro UBSW Sell 1,757,000 2,492,463 2/11/10 -- (144,592) Singapore Dollar BZWS Sell 74,200 49,744 2/11/10 -- (3,818) Singapore Dollar BZWS Buy 74,200 53,149 2/11/10 413 -- South Korean Won HSBC Buy 231,000,000 169,853 2/12/10 28,003 -- Mexican Peso DBAB Sell 13,126,800 969,483 3/04/10 -- (33,118) Mexican Peso DBAB Buy 13,126,800 800,000 3/04/10 202,601 -- Mexican Peso CITI Sell 2,524,000 186,420 3/16/10 -- (6,027) Mexican Peso CITI Buy 2,524,000 156,965 3/16/10 35,483 -- Singapore Dollar DBAB Sell 175,000 113,792 3/18/10 -- (12,504) Singapore Dollar DBAB Buy 175,000 125,987 3/18/10 308 -- Singapore Dollar DBAB Sell 261,000 170,014 3/19/10 -- (18,345) Singapore Dollar DBAB Buy 261,000 186,136 3/19/10 2,223 -- Singapore Dollar DBAB Sell 348,000 226,965 3/22/10 -- (24,176) Singapore Dollar DBAB Buy 348,000 250,529 3/22/10 613 -- Singapore Dollar UBSW Sell 316,000 208,052 3/23/10 -- (19,995) Singapore Dollar UBSW Buy 316,000 227,699 3/23/10 348 -- Singapore Dollar JPHQ Sell 86,000 56,995 3/31/10 -- (5,065) Singapore Dollar JPHQ Buy 86,000 61,658 3/31/10 403 -- South Korean Won DBAB Buy 1,134,942,000 866,937 3/31/10 104,075 -- Brazilian Real DBAB Buy 85,470 35,000 4/05/10 12,626 -- Poland Zloty DBAB Buy 313,000 67,182 EUR 4/06/10 11,209 -- Indian Rupee DBAB Buy 911,000 17,606 4/09/10 1,847 -- Indian Rupee DBAB Buy 1,953,000 37,717 4/12/10 3,977 -- Indian Rupee JPHQ Buy 1,312,000 25,149 4/13/10 2,859 -- Poland Zloty DBAB Buy 313,000 69,944 EUR 4/14/10 7,011 --
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) Indian Rupee JPHQ Buy 1,288,000 25,151 4/15/10 2,340 -- Indian Rupee JPHQ Buy 643,000 12,603 4/19/10 1,118 -- Indian Rupee DBAB Buy 451,000 8,791 4/19/10 832 -- Brazilian Real UBSW Buy 122,000 50,476 4/23/10 17,257 -- Chilean Peso CITI Buy 143,529,000 244,638 4/23/10 46,254 -- Chilean Peso CITI Buy 140,151,000 239,100 4/26/10 44,939 -- Indian Rupee DBAB Buy 915,000 17,657 4/26/10 1,858 -- Chilean Peso JPHQ Buy 110,826,000 189,398 4/27/10 35,208 -- Chilean Peso CITI Buy 111,223,000 189,396 4/27/10 36,014 -- Indian Rupee JPHQ Buy 130,000 2,512 4/27/10 260 -- Chilean Peso UBSW Buy 22,368,000 37,880 4/28/10 7,452 -- Chilean Peso CITI Buy 178,639,000 303,035 4/28/10 59,001 -- Indian Rupee JPHQ Buy 647,000 12,600 4/28/10 1,197 -- Poland Zloty BZWS Buy 622,000 137,672 EUR 4/28/10 15,730 -- Indian Rupee JPHQ Buy 648,000 12,607 4/30/10 1,210 -- Euro DBAB Sell 97,652 145,941 5/20/10 -- (513) Indian Rupee DBAB Buy 1,239,000 25,245 6/01/10 1,114 -- New Zealand Dollar DBAB Sell 187,341 130,856 6/01/10 -- (1,456) New Zealand Dollar UBSW Sell 188,477 131,666 6/01/10 -- (1,448) New Zealand Dollar CITI Sell 106,626 74,359 6/01/10 -- (947) Indian Rupee HSBC Buy 37,000 763 6/02/10 24 -- New Zealand Dollar BZWS Sell 156,230 110,029 6/02/10 -- (2,007) New Zealand Dollar DBAB Sell 80,807 57,021 6/02/10 -- (927) New Zealand Dollar FBCO Sell 26,666 18,800 6/02/10 -- (323) Indian Rupee HSBC Buy 182,000 3,792 6/03/10 80 -- Indian Rupee HSBC Buy 1,213,000 25,239 6/04/10 562 -- Poland Zloty DBAB Buy 739,000 162,450 EUR 6/04/10 19,786 -- Swedish Krona DBAB Buy 9,350,000 878,140 EUR 6/04/10 24,902 -- Indian Rupee DBAB Buy 607,000 12,630 6/07/10 279 -- Poland Zloty DBAB Buy 699,000 152,278 EUR 6/07/10 20,741 -- Indian Rupee DBAB Buy 306,000 6,349 6/08/10 159 -- Indian Rupee HSBC Buy 244,000 5,057 6/08/10 132 -- Poland Zloty CITI Buy 281,000 61,011 EUR 6/08/10 8,641 -- New Zealand Dollar BZWS Sell 156,230 109,964 6/09/10 -- (1,999)
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) Indian Rupee DBAB Buy 247,000 5,077 6/10/10 175 -- Indian Rupee HSBC Buy 248,000 5,087 6/11/10 186 -- Indian Rupee BZWS Buy 370,000 7,629 6/11/10 238 -- Indian Rupee DBAB Buy 619,000 12,708 6/16/10 449 -- Indian Rupee DBAB Buy 563,000 11,420 6/21/10 543 -- Swedish Krona DBAB Buy 2,169,000 275,341 6/28/10 35,878 -- Malaysian Ringgit JPHQ Buy 3,824,153 1,077,681 6/29/10 38,908 -- Swedish Krona UBSW Buy 2,171,000 272,441 6/29/10 39,064 -- Swedish Krona UBSW Buy 1,208,500 109,883 EUR 7/15/10 8,710 -- Indian Rupee CITI Buy 890,000 17,800 7/19/10 1,077 -- Indian Rupee JPHQ Buy 890,000 17,800 7/20/10 1,076 -- Swedish Krona DBAB Buy 1,208,500 113,373 EUR 7/27/10 3,499 -- Chilean Peso DBAB Buy 485,730,000 900,000 7/30/10 87,408 -- Indian Rupee JPHQ Buy 44,200,000 896,552 7/30/10 40,266 -- Malaysian Ringgit HSBC Buy 12,000,000 3,403,000 7/30/10 97,634 -- New Zealand Dollar DBAB Sell 312,830 201,306 7/30/10 -- (18,494) New Zealand Dollar DBAB Sell 311,640 200,182 8/03/10 -- (18,705) New Zealand Dollar BZWS Sell 121,994 78,320 8/03/10 -- (7,365) New Zealand Dollar DBAB Sell 123,469 78,884 8/04/10 -- (7,829) New Zealand Dollar BZWS Sell 61,468 39,462 8/04/10 -- (3,707) New Zealand Dollar CITI Sell 309,484 202,101 8/05/10 -- (15,234) New Zealand Dollar DBAB Sell 91,809 59,841 8/05/10 -- (4,632) New Zealand Dollar CITI Sell 121,200 79,206 8/06/10 -- (5,899) New Zealand Dollar FBCO Sell 60,488 39,393 8/06/10 -- (3,081) New Zealand Dollar CITI Sell 119,590 78,626 8/09/10 -- (5,327) New Zealand Dollar DBAB Sell 120,130 79,021 8/09/10 -- (5,310) New Zealand Dollar FBCO Sell 118,226 77,905 8/09/10 -- (5,090) Poland Zloty DBAB Buy 5,016,264 1,201,040 EUR 8/09/10 -- (19,622) Chilean Peso DBAB Buy 312,765,000 580,000 8/11/10 56,206 -- New Zealand Dollar FBCO Sell 118,433 78,655 8/11/10 -- (4,471) Poland Zloty DBAB Buy 11,975,000 2,850,037 EUR 8/11/10 -- (21,646) Malaysian Ringgit HSBC Buy 742,193 211,000 8/12/10 5,430 -- New Zealand Dollar DBAB Sell 111,196 72,633 8/12/10 -- (5,406) Indian Rupee JPHQ Buy 21,609,000 441,000 8/13/10 16,595 --
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) Malaysian Ringgit HSBC Buy 3,538,668 1,004,000 8/13/10 27,877 -- Indian Rupee DBAB Buy 10,857,000 220,000 8/16/10 9,865 -- Malaysian Ringgit HSBC Buy 830,725 235,000 8/16/10 7,219 -- Brazilian Real DBAB Buy 239,000 11,607,513 JPY 8/17/10 -- (5,303) Indian Rupee HSBC Buy 34,619,025 705,000 8/17/10 27,910 -- Israeli Shekel CITI Buy 1,035,000 273,130 8/17/10 213 -- Japanese Yen UBSW Sell 33,171,000 349,698 8/17/10 -- (34,949) Brazilian Real DBAB Buy 176,000 8,474,400 JPY 8/18/10 -- (3,077) Chilean Peso JPHQ Buy 125,885,900 230,000 8/18/10 26,165 -- Indian Rupee JPHQ Buy 4,183,700 85,000 8/18/10 3,566 -- Japanese Yen JPHQ Sell 16,483,000 174,849 8/18/10 -- (16,288) New Zealand Dollar DBAB Sell 5,500,000 3,642,100 8/18/10 -- (215,878) Brazilian Real DBAB Buy 265,000 12,456,590 JPY 8/19/10 -- (1,152) Chilean Peso JPHQ Buy 43,134,000 78,000 8/19/10 9,778 -- Israeli Shekel DBAB Buy 104,000 27,397 8/19/10 69 -- Israeli Shekel CITI Buy 1,038,000 273,464 8/19/10 671 -- Japanese Yen HSBC Sell 16,407,000 174,394 8/19/10 -- (15,864) Indian Rupee DBAB Buy 13,253,000 265,378 8/20/10 15,144 -- Israeli Shekel CITI Buy 397,200 103,922 8/20/10 978 -- Japanese Yen DBAB Sell 16,469,000 174,390 8/20/10 -- (16,590) Japanese Yen BZWS Sell 16,448,000 174,648 8/20/10 -- (16,088) Indian Rupee DBAB Buy 11,485,000 229,987 8/23/10 13,067 -- Israeli Shekel CITI Buy 677,800 177,751 8/23/10 1,254 -- Japanese Yen CITI Sell 32,863,000 349,300 8/23/10 -- (31,802) Japanese Yen FBCO Sell 32,622,000 349,300 8/23/10 -- (29,007) Japanese Yen JPHQ Sell 32,793,000 349,298 8/24/10 -- (30,996) Japanese Yen BZWS Sell 32,684,000 349,300 8/24/10 -- (29,731) New Zealand Dollar FBCO Sell 108,655 71,645 8/24/10 -- (4,531) Japanese Yen DBAB Sell 16,255,000 174,653 8/25/10 -- (13,855) New Zealand Dollar DBAB Sell 108,000 72,198 8/27/10 -- (3,499) Brazilian Real DBAB Buy 177,000 8,269,971 JPY 8/31/10 -- (467) Indian Rupee DBAB Buy 8,122,000 162,766 9/01/10 9,020 -- Japanese Yen JPHQ Sell 16,291,000 174,645 9/01/10 -- (14,302) Brazilian Real DBAB Buy 265,000 12,252,805 JPY 9/02/10 725 --
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) Japanese Yen HSBC Sell 16,121,000 174,653 9/02/10 -- (12,325) Japanese Yen HSBC Sell 24,279,000 261,972 9/09/10 -- (19,661) Japanese Yen DBAB Sell 49,897,000 543,564 9/10/10 -- (35,244) Japanese Yen HSBC Sell 24,196,000 261,975 9/10/10 -- (18,700) Japanese Yen UBSW Sell 41,448,000 452,964 9/13/10 -- (27,860) Brazilian Real DBAB Buy 398,000 18,557,665 JPY 9/15/10 -- (1,391) Japanese Yen UBSW Sell 49,117,000 543,564 9/15/10 -- (26,245) Japanese Yen HSBC Sell 32,977,000 362,377 9/15/10 -- (20,192) Japanese Yen BZWS Sell 32,612,000 362,376 9/15/10 -- (15,958) Japanese Yen HSBC Sell 48,915,000 543,560 9/16/10 -- (23,915) Japanese Yen DBAB Sell 16,397,000 181,182 9/16/10 -- (9,044) Japanese Yen JPHQ Sell 32,795,000 362,376 9/21/10 -- (18,121) Japanese Yen HSBC Sell 16,260,000 181,190 9/21/10 -- (7,463) Mexican Peso DBAB Sell 85,819,768 6,171,509 9/21/10 -- (195,251) Indian Rupee HSBC Buy 12,806,000 259,941 9/24/10 10,519 -- Indian Rupee DBAB Buy 25,605,000 519,898 9/24/10 20,873 -- Japanese Yen JPHQ Sell 106,626,000 1,178,253 9/24/10 -- (58,916) Swedish Krona UBSW Buy 12,242,000 1,216,234 EUR 9/24/10 -- (65,193) Indian Rupee JPHQ Buy 12,717,000 259,955 9/27/10 8,574 -- Indian Rupee DBAB Buy 31,755,000 649,878 9/27/10 20,653 -- Japanese Yen JPHQ Sell 10,603,000 117,824 9/27/10 -- (5,208) Swedish Krona UBSW Buy 12,230,000 1,216,201 EUR 9/27/10 -- (66,828) Japanese Yen JPHQ Sell 8,858,000 98,433 9/28/10 -- (4,352) Swedish Krona DBAB Buy 6,048,000 599,988 EUR 9/28/10 -- (30,871) Indian Rupee DBAB Buy 25,543,000 519,906 9/29/10 19,385 -- Indian Rupee JPHQ Buy 29,309,000 597,878 9/29/10 20,925 -- Japanese Yen JPHQ Sell 14,763,000 164,052 9/29/10 -- (7,257) Brazilian Real DBAB Buy 4,737,500 2,500,000 10/04/10 35,205 -- Euro DBAB Sell 2,580,000 3,774,359 10/04/10 -- (88,059) Euro UBSW Sell 1,950,000 2,849,730 10/04/10 -- (69,540) Malaysian Ringgit DBAB Buy 19,420,800 5,600,000 10/04/10 55,931 -- Philippine Peso DBAB Buy 36,272,000 751,814 10/04/10 -- (4,071) Philippine Peso HSBC Buy 29,096,000 601,468 10/04/10 -- (1,658) Swedish Krona DBAB Buy 17,870,125 1,753,572 EUR 10/04/10 -- (62,327)
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) Indian Rupee JPHQ Buy 20,335,000 415,000 10/05/10 14,171 -- Indian Rupee DBAB Buy 30,628,125 625,000 10/05/10 21,408 -- Philippine Peso DBAB Buy 43,367,000 902,182 10/05/10 -- (8,220) Philippine Peso HSBC Buy 43,378,000 902,192 10/05/10 -- (8,003) Euro UBSW Sell 645,000 936,992 10/06/10 -- (28,586) Philippine Peso JPHQ Buy 11,457,000 240,592 10/06/10 -- (4,430) New Zealand Dollar DBAB Sell 500,000 354,500 10/07/10 5,519 -- Philippine Peso DBAB Buy 35,600,000 751,816 10/07/10 -- (18,031) Euro UBSW Sell 643,000 944,406 10/08/10 -- (18,150) Philippine Peso DBAB Buy 28,487,000 601,448 10/08/10 -- (14,304) Philippine Peso HSBC Buy 28,541,000 601,452 10/08/10 -- (13,194) Philippine Peso JPHQ Buy 14,213,000 300,734 10/08/10 -- (7,791) Philippine Peso CITI Buy 14,250,000 300,734 10/08/10 -- (7,028) Philippine Peso DBAB Buy 8,482,000 180,430 10/12/10 -- (5,641) Philippine Peso JPHQ Buy 51,957,000 1,108,348 10/13/10 -- (37,717) Philippine Peso HSBC Buy 14,145,000 300,765 10/13/10 -- (9,292) Philippine Peso JPHQ Buy 2,240,000 47,761 10/15/10 -- (1,608) Chinese Yuan HSBC Buy 4,800,000 485,954 EUR 10/18/10 -- (17,034) Philippine Peso JPHQ Buy 7,439,000 159,222 10/18/10 -- (5,969) Philippine Peso DBAB Buy 3,748,000 79,609 10/19/10 -- (2,399) Philippine Peso DBAB Buy 14,983,000 318,448 10/21/10 -- (9,824) Philippine Peso JPHQ Buy 7,523,000 159,217 10/21/10 -- (4,256) Philippine Peso HSBC Buy 24,334,000 510,682 10/25/10 -- (9,538) Philippine Peso DBAB Buy 16,206,000 340,462 10/25/10 -- (6,709) Philippine Peso JPHQ Buy 8,108,000 170,229 10/25/10 -- (3,249) Euro DBAB Sell 1,045,000 1,543,465 10/26/10 -- (20,481) Euro BZWS Sell 1,066,000 1,594,843 10/26/10 -- (532) Indian Rupee HSBC Buy 20,938,000 440,429 10/26/10 882 -- Indian Rupee DBAB Buy 62,746,000 1,321,302 10/26/10 1,198 -- Norwegian Krone BZWS Buy 17,898,000 2,116,854 EUR 10/26/10 -- (68,285) Philippine Peso HSBC Buy 21,042,000 442,588 10/26/10 -- (9,261) Euro DBAB Sell 1,265,730 1,893,939 10/27/10 -- (325) Euro UBSW Sell 4,280,000 6,409,514 10/27/10 4,158 -- Indian Rupee HSBC Buy 31,191,000 660,658 10/27/10 -- (3,286)
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) Philippine Peso DBAB Buy 6,504,000 136,181 10/28/10 -- (2,254) Euro DBAB Sell 138,000 203,840 11/02/10 -- (2,671) Euro DBAB Sell 519,000 763,034 11/03/10 -- (13,614) Euro DBAB Sell 398,000 583,568 11/05/10 -- (11,996) Japanese Yen CITI Sell 207,713,767 2,295,629 11/08/10 -- (116,338) Japanese Yen BZWS Sell 204,044,000 2,278,357 11/10/10 -- (91,079) Japanese Yen BZWS Sell 266,734,000 2,976,776 11/12/10 -- (120,748) Japanese Yen UBSW Sell 206,868,600 2,310,632 11/12/10 -- (91,688) Japanese Yen DBAB Sell 98,350,000 1,097,963 11/15/10 -- (44,214) Japanese Yen JPHQ Sell 49,112,000 548,983 11/16/10 -- (21,384) Japanese Yen BZWS Sell 23,675,000 263,509 11/16/10 -- (11,442) Chilean Peso JPHQ Buy 4,234,440,000 8,520,000 11/17/10 79,085 -- Euro UBSW Sell 8,678,696 12,925,339 11/17/10 -- (59,187) Japanese Yen BZWS Sell 98,062,000 1,097,959 11/17/10 -- (40,913) Japanese Yen UBSW Sell 39,232,000 439,181 11/17/10 -- (16,452) Japanese Yen HSBC Sell 25,664,000 285,476 11/17/10 -- (12,581) Japanese Yen BZWS Sell 136,747,000 1,537,153 11/18/10 -- (51,026) Malaysian Ringgit JPHQ Buy 35,805,300 10,650,000 11/18/10 -- (233,020) Japanese Yen BZWS Sell 154,516,000 1,756,747 11/29/10 -- (38,145) Japanese Yen BOFA Sell 106,050,000 1,196,784 11/29/10 -- (35,117) Japanese Yen CITI Sell 38,352,000 439,187 11/29/10 -- (6,318) Norwegian Krone UBSW Buy 9,832,000 1,149,901 EUR 11/29/10 -- (20,739) Swedish Krona UBSW Buy 15,700,000 1,519,727 EUR 11/29/10 -- (22,624) Philippine Peso HSBC Buy 80,979,500 1,700,000 11/30/10 -- (35,109) Australian Dollar DBAB Buy 1,042,000 908,624 12/01/10 5,915 -- Euro UBSW Sell 425,000 632,719 12/01/10 -- (3,015) Euro DBAB Sell 425,000 633,140 12/01/10 -- (2,594) Japanese Yen DBAB Sell 95,091,000 1,097,960 12/01/10 -- (6,677) Norwegian Krone UBSW Buy 3,180,000 368,696 EUR 12/01/10 -- (1,939) Philippine Peso HSBC Buy 28,530,000 600,000 12/01/10 -- (13,832) Mexican Peso CITI Sell 798,000 58,759 12/02/10 -- (237) ---------- ------------ Unrealized appreciation (depreciation) 1,807,734 (4,632,618) ---------- ------------ Net unrealized appreciation (depreciation) $(2,824,884) ------------
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) At November 30, 2009 the Fund had the following interest rate swap contracts outstanding. See Note 3.
PAY/RECEIVE FIXED NOTIONAL EXPIRATION UNREALIZED UNREALIZED COUNTERPARTY FLOATING RATE RATE FLOATING RATE AMOUNT(a) DATE APPRECIATION DEPRECIATION ------------ ------------- ----- ------------------------- ----------- ---------- ------------ ------------ JPHQ Pay 5.70% Tasa Nominal Annual Rate 253,000,000 CLP 12/19/18 $18,009 $ -- CITI Pay 7.70% MXN Interbank Equilibrium Interest Rate 1,400,000 MXN 1/11/19 -- (2,712) CITI Pay 7.67% MXN Interbank Equilibrium Interest Rate 1,800,000 MXN 1/12/19 -- (3,808) CITI Pay 7.84% MXN Interbank Equilibrium Interest Rate 1,200,000 MXN 1/15/19 -- (983) CITI Pay 7.87% MXN Interbank Equilibrium Interest Rate 1,600,000 MXN 1/16/19 -- (1,058) CITI Pay 8.00% MXN Interbank Equilibrium Interest Rate 1,130,000 MXN 1/18/19 -- (19) JPHQ Pay 8.06% MXN Interbank Equilibrium Interest Rate 1,800,000 MXN 1/22/19 396 -- CITI Pay 8.07% MXN Interbank Equilibrium Interest Rate 5,650,000 MXN 1/22/19 1,537 -- JPHQ Pay 8.17% MXN Interbank Equilibrium Interest Rate 4,100,000 MXN 11/23/28 -- (13,605) JPHQ Pay 8.32% MXN Interbank Equilibrium Interest Rate 2,690,000 MXN 1/9/29 -- (5,664) CITI Pay 9.05% MXN Interbank Equilibrium Interest Rate 3,250,000 MXN 2/2/29 11,203 -- -------- -------- Unrealized appreciation (depreciation) 31,145 (27,849) -------- -------- Net unrealized appreciation (depreciation) $ 3,296 ========
(a) In U.S. dollars unless otherwise indicated. CURRENCY AUD Australian Dollar BRL Brazilian Real CLP Chilean Peso EGP Egyptian Pound EUR Euro GHS Ghana Cedi IDR Indonesian Rupiah ILS New Israeli Shekel JPY Japanese Yen KRW South Korean Won LKR Sri Lankan Rupee MXN Mexican Peso NOK Norwegian Krone NZD New Zealand Dollar PLN Polish Zloty SEK Swedish Krona SELECTED PORTFOLIO AMBAC America Municipal Bond Assurance Corp. BHAC Bershire Hathaway Assurance Corp. FSA Financial Security Assurance Corp. FRN Floating Rate Note GO General Obligation ID Improvement District ISD Independent School District MTA Metropolitan Transit Authority NATL National Public Financial Guarantee Corp. Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) USD Unified/Union School District COUNTERPARTY BOFA Bank of America N.A BZWS Barclays Bank PLC CITI Citibank N.A. DBAB Deutsche Bank AG FBCO Credit Suisse International HSBC HSBC Bank USA JPHQ JPMorgan Chase Bank, N.A. UBSW UBS AG Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED)
PRINCIPAL TEMPLETON INTERNATIONAL BOND FUND AMOUNT(a) VALUE --------------------------------- ------------- ----------- BONDS 74.9% ARGENTINA 1.0% (b, c) Government of Argentina, senior bond, FRN, 0.943%, 8/03/12 1,588,000 $ 501,014 ----------- AUSTRALIA 6.0% (d) Government of Australia, TB123, 5.75%, 4/15/12 555,000 AUD 521,375 New South Wales Treasury Corp., senior note, 5.50%, 3/01/17 296,000 AUD 266,143 Queensland Treasury Corp., 11, 6.00%, 6/14/11 925,000 AUD 863,937 13, 6.00%, 8/14/13 1,268,000 AUD 1,187,984 17, 6.00%, 9/14/17 100,000 AUD 92,598 (e) 144A, 7.125%, 9/18/17 230,000 NZD 173,662 ----------- 3,105,699 ----------- BRAZIL 5.1% Nota Do Tesouro Nacional, 9.609%, 1/01/12 1,665(f) BRL 918,657 9.609%, 1/01/17 650(f) BRL 317,203 (g) Index Linked, 6.00%, 5/15/15 1,395(f) BRL 1,425,006 ----------- 2,660,866 ----------- CANADA 1.3% Province of Manitoba, 6.375%, 9/01/15 20,000 NZD 14,444 Province of Ontario, 6.25%, 6/16/15 901,000 NZD 661,393 ----------- 675,837 ----------- GERMANY 2.5% KfW Bankengruppe, 4.66%, 1/05/12 4,000,000 NOK 733,978 senior note, 7.25%, 2/22/10 474,000 NZD 342,602 senior note, 6.375%, 2/17/15 130,000 NZD 96,819 Landwirtschaftliche Rentenbank, senior note, 8.50%, 2/22/16 1,825,000 MXN 144,029 ----------- 1,317,428 ----------- HUNGARY 1.8% Government of Hungary, 3.50%, 7/18/16 25,000 EUR 34,946 4.375%, 7/04/17 150,000 EUR 218,910 5.75%, 6/11/18 395,000 EUR 614,510 senior note, 3.875%, 2/24/20 55,000 EUR 72,831 ----------- 941,197 ----------- INDONESIA 6.0% Government of Indonesia, FR31, 11.00%, 11/15/20 418,000,000 IDR 46,088 FR34, 12.80%, 6/15/21 1,751,000,000 IDR 213,898 FR35, 12.90%, 6/15/22 1,670,000,000 IDR 204,445 FR40, 11.00%, 9/15/25 1,060,000,000 IDR 113,792 FR42, 10.25%, 7/15/27 5,447,000,000 IDR 550,173 FR43, 10.25%, 7/15/22 95,000,000 IDR 9,771 FR44, 10.00%, 9/15/24 63,000,000 IDR 6,297 FR46, 9.50%, 7/15/23 2,590,000,000 IDR 249,960 FR47, 10.00%, 2/15/28 4,502,000,000 IDR 444,010 FR49, 9.00%, 9/15/13 340,000,000 IDR 36,140 FR52, 10.50%, 8/15/30 7,100,000,000 IDR 722,766 (e) senior bond, 144A, 8.50%, 10/12/35 100,000 118,125 (e) senior bond, 144A, 7.75%, 1/17/38 100,000 108,800 (e) senior note, 144A, 11.625%, 3/04/19 210,000 296,733 ----------- 3,120,998 ----------- ISRAEL 1.9% Government of Israel, 2680, 7.00%, 4/29/11 3,435,000 ILS 968,238 -----------
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) LITHUANIA 1.7% (e) Government of Lithuania, 144A, 6.75%, 1/15/15 870,000 $ 879,787 ----------- MALAYSIA 1.9% Government of Malaysia, 3.644%, 8/25/10 90,000 MYR 26,791 3.756%, 4/28/11 2,515,000 MYR 754,725 3.833%, 9/28/11 530,000 MYR 159,655 3.814%, 2/15/17 55,000 MYR 15,999 ----------- 957,170 ----------- MEXICO 4.1% Government of Mexico, MI10, 9.00%, 12/20/12 800(h) MXN 6,583 MI10, 8.00%, 12/19/13 2,300(h) MXN 18,384 M 10, 8.00%, 12/17/15 25,000(h) MXN 197,999 M 20, 8.00%, 12/07/23 53,000(h) MXN 406,827 M 20, 10.00%, 12/05/24 34,000(h) MXN 306,735 M 20, 7.50%, 6/03/27 117,000(h) MXN 838,308 M 30, 10.00%, 11/20/36 40,000(h) MXN 360,622 ----------- 2,135,458 ----------- NORWAY 3.7% Government of Norway, 6.00%, 5/16/11 10,470,000 NOK 1,939,902 ----------- POLAND 6.6% Government of Poland, 4.25%, 5/24/11 90,000 PLN 32,361 4.75%, 4/25/12 4,860,000 PLN 1,748,179 5.75%, 4/25/14 690,000 PLN 249,861 6.25%, 10/24/15 305,000 PLN 112,425 5.75%, 9/23/22 1,500,000 PLN 519,512 (i) 0112, Strip, 1/25/12 780,000 PLN 254,120 1013, 5.00%, 10/24/13 90,000 PLN 31,968 senior note, 6.375%, 7/15/19 440,000 488,784 ----------- 3,437,210 ----------- QATAR 0.4% (e) Government of Qatar, senior note, 144A, 6.55%, 4/09/19 170,000 187,748 ----------- RUSSIA 2.3% Government of Russia, 597,840 675,649 (e) 144A, 7.50%, 3/31/30 (j) senior bond, Reg S, 7.50%, 3/31/30 446,500 504,612 ----------- 1,180,261 ----------- SOUTH AFRICA 1.9% Government of South Africa, 5.25%, 5/16/13 50,000 EUR 77,880 4.50%, 4/05/16 100,000 EUR 148,337 6.875%, 5/27/19 455,000 507,894 senior note, 6.50%, 6/02/14 25,000 27,583 senior note, 5.875%, 5/30/22 200,000 203,875 ----------- 965,569 ----------- SOUTH KOREA 13.6% Korea Treasury Bond, 0400-1206, 4.00%, 6/10/12 5,255,170,000 KRW 4,498,529 0475-1112, 4.75%, 12/10/11 695,600,000 KRW 605,720 0475-1203, 4.75%, 3/10/12 220,000,000 KRW 191,475 0500-1609, 5.00%, 9/10/16 16,000,000 KRW 13,680 0525-1209, 5.25%, 9/10/12 816,000,000 KRW 718,608 0525-1303, 5.25%, 3/10/13 24,750,000 KRW 21,799 0550-1106, 5.50%, 6/10/11 585,930,000 KRW 517,641 0575-1309, 5.75%, 9/10/13 220,000,000 KRW 196,922 senior note, 7.125%, 4/16/19 260,000 309,453 ----------- 7,073,827 -----------
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) SRI LANKA 1.5% Government of Sri Lanka, A, 8.50%, 1/15/13 13,400,000 LKR $ 112,293 13.50%, 2/01/13 13,100,000 LKR 124,927 11.25%, 7/15/14 34,600,000 LKR 309,799 11.00%, 8/01/15 26,300,000 LKR 232,636 ----------- 779,655 ----------- (K) SUPRANATIONAL 2.1% Corporacion Andina De Fomento, 8.125%, 6/04/19 240,000 285,420 European Investment Bank, senior note, 3,900,000 NOK 723,939 5.375%, 7/16/12 1612/37, 6.50%, 9/10/14 110,000 NZD 81,677 ----------- 1,091,036 ----------- SWEDEN 6.3% Government of Sweden, 5.25%, 3/15/11 21,585,000 SEK 3,283,161 ----------- UNITED ARAB EMIRATES 0.4% (e) Emirate of Abu Dhabi, 144A, 6.75%, 4/08/19 170,000 187,944 ----------- VENEZUELA 2.8% Government of Venezuela, 10.75%, 9/19/13 305,000 282,125 (j) senior bond, Reg S, 5.375%, 8/07/10 165,000 162,112 (d) Petroleos de Venezuela SA, senior bond, zero cpn., 7/10/11 1,240,000 993,550 ----------- 1,437,787 ----------- TOTAL BONDS (COST $36,260,237) 38,827,792 ----------- SHORT TERM INVESTMENTS 25.0% FOREIGN GOVERNMENT AND AGENCY SECURITIES 1.1% ISRAEL 0.8% (i) Israel Treasury Bill, 10/6/10 1,580,000 ILS 411,535 ----------- MALAYSIA 0.3% Government of Malaysia, 3.869%, 4/13/10 490,000 MYR 145,237 ----------- TOTAL FOREIGN GOVERNMENT AND AGENCY SECURITIES (COST $557,235) 556,772 ----------- TOTAL INVESTMENTS BEFORE MONEY MARKET FUNDS (COST $36,817,472) 39,384,564 -----------
SHARES ------------- MONEY MARKET FUNDS (COST $12,429,586) 23.9% UNITED STATES 23.9% (l) Institutional Fiduciary Trust Money Market Portfolio, 0.00% 12,429,586 12,429,586 ----------- TOTAL INVESTMENTS (COST $49,247,058) 99.9% 51,814,150 OTHER ASSETS, LESS LIABILITIES 0.1% 36,418 ----------- NET ASSETS 100.0% $51,850,568 ===========
(a) The principal amount is stated in U.S. dollars unless otherwise indicated. (b) The coupon rate shown represents the rate at period end. (c) The principal amount is stated in original face, and scheduled paydowns are reflected in the market price on ex-date. (d) A portion or all of the security purchased on a delayed delivery basis. (e) Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and 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. These securities have been deemed liquid under guidelines approved by the Trust's Board of Trustees. At November 30, 2009, the aggregate value of these securities was $2,628,448, representing 5.07% of net assets. (f) Principal amount is stated in 1,000 Brazilian Real Units. (g) Redemption price at maturity is adjusted for inflation. (h) Principal amount is stated in 100 Mexican Peso Units. (i) The security is traded on a discount basis with no stated coupon rate. Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) (j) Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security 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. These securities have been deemed liquid under guidelines approved by the Trust's Board of Trustees. At November 30, 2009, the aggregate value of these securities was $666,724, representing 1.29% of net assets. (k) A supranational organization is an entity formed by two or more central governments through international treaties. (l) The Institutional Fiduciary Trust Money Market Portfolio is managed by the Fund's investment manager. The rate shown is the annualized seven-day yield at period end. At November 30, 2009, the Fund had the following forward exchange contracts outstanding. See Note 3.
Contract Settlement Unrealized Unrealized Currency Counterparty Type Quantity Amount(a) Date Appreciation Depreciation -------- ------------ ---- ------------- --------- ---------- ------------ ------------ Mexican Peso CITI Sell 884,000 65,252 12/01/09 $ -- $ (3,086) Mexican Peso CITI Buy 884,000 68,532 12/01/09 -- (195) New Zealand Dollar BZWS Sell 290,866 179,755 12/02/09 -- (28,516) New Zealand Dollar DBAB Sell 75,222 45,755 12/02/09 -- (8,107) New Zealand Dollar FBCO Sell 24,823 15,353 12/02/09 -- (2,422) New Zealand Dollar FBCO Buy 24,823 17,749 12/02/09 298 -- New Zealand Dollar BZWS Buy 290,866 207,678 12/02/09 3,780 -- New Zealand Dollar DBAB Buy 75,222 53,821 12/02/09 865 -- Chinese Yuan HSBC Buy 265,000 28,773 EUR 12/04/09 -- (4,379) Chinese Yuan HSBC Buy 210,000 28,728 12/04/09 2,033 -- Malaysian Ringgit JPHQ Buy 315,576 85,789 12/04/09 7,097 -- Indonesian Rupiah JPHQ Buy 3,556,000,000 254,000 12/07/09 121,564 -- Euro UBSW Sell 4,392 5,553 12/08/09 -- (1,040) Chinese Yuan JPHQ Buy 157,553 22,348 12/14/09 734 -- Chinese Yuan HSBC Buy 316,001 44,696 12/14/09 1,598 -- Chinese Yuan HSBC Buy 317,225 44,842 12/15/09 1,632 -- Chinese Yuan JPHQ Buy 316,135 44,842 12/15/09 1,473 -- Chinese Yuan HSBC Buy 371,083 52,729 12/16/09 1,636 -- Malaysian Ringgit JPHQ Buy 187,321 52,729 12/16/09 2,373 -- Chinese Yuan HSBC Buy 130,906 18,516 12/17/09 663 -- Malaysian Ringgit JPHQ Buy 66,286 18,516 12/17/09 982 -- Mexican Peso DBAB Sell 1,767,862 128,088 12/17/09 -- (8,277) Chinese Yuan HSBC Buy 393,711 55,547 12/18/09 2,135 -- Malaysian Ringgit JPHQ Buy 79,321 22,219 12/21/09 1,109 -- Malaysian Ringgit HSBC Buy 51,503 14,812 12/23/09 332 -- Malaysian Ringgit HSBC Buy 58,271 16,664 12/28/09 467 -- Euro DBAB Sell 196,400 275,402 1/04/10 -- (19,419) Euro DBAB Sell 86,000 119,282 1/11/10 -- (9,812) Euro UBSW Sell 80,000 110,758 1/11/10 -- (9,329) Malaysian Ringgit DBAB Buy 157,442 44,325 1/11/10 1,933 -- Euro UBSW Sell 32,570 45,767 1/13/10 -- (3,123) Euro CITI Sell 32,570 45,789 1/13/10 -- (3,101) Mexican Peso DBAB Sell 1,263,000 90,821 1/13/10 -- (6,258) Philippine Peso JPHQ Buy 22,451,000 481,087 1/13/10 -- (7,766) Euro BZWS Sell 40,087 56,322 1/14/10 -- (3,851)
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) Euro DBAB Sell 105,000 146,671 1/15/10 -- (10,941) Euro UBSW Sell 42,592 59,518 1/15/10 -- (4,415) Euro JPHQ Sell 22,549 31,445 1/15/10 -- (2,403) Philippine Peso HSBC Buy 2,981,000 64,039 1/15/10 -- (1,205) Philippine Peso DBAB Buy 1,700,000 36,591 1/15/10 -- (758) Euro CITI Sell 48,798 68,688 1/19/10 -- (4,560) Euro BZWS Sell 32,570 45,875 1/19/10 -- (3,014) Philippine Peso JPHQ Buy 4,246,000 91,497 1/19/10 -- (2,035) Philippine Peso DBAB Buy 1,064,000 22,877 1/19/10 -- (459) Mexican Peso DBAB Sell 303,633 22,289 1/20/10 -- (1,029) Mexican Peso DBAB Buy 303,633 20,467 1/20/10 2,851 -- Mexican Peso HSBC Sell 4,515,918 331,412 1/21/10 -- (15,353) Mexican Peso HSBC Buy 4,515,918 307,010 1/21/10 39,754 -- Euro DBAB Sell 81,000 114,904 1/25/10 -- (6,678) Euro UBSW Sell 57,624 81,963 1/25/10 -- (4,531) Euro CITI Sell 111,900 159,773 1/27/10 -- (8,189) Mexican Peso DBAB Sell 167,000 12,344 1/27/10 -- (470) New Zealand Dollar DBAB Sell 488,000 315,834 1/28/10 -- (32,137) Euro DBAB Sell 516,000 729,330 1/29/10 -- (45,183) Euro UBSW Sell 86,000 120,680 1/29/10 -- (8,406) Mexican Peso CITI Sell 892,000 65,434 1/29/10 -- (2,992) Mexican Peso DBAB Sell 290,000 21,282 1/29/10 -- (964) New Zealand Dollar UBSW Sell 117,412 76,424 1/29/10 -- (7,292) Singapore Dollar HSBC Sell 818,000 545,501 1/29/10 -- (45,048) Singapore Dollar BZWS Sell 205,000 136,231 1/29/10 -- (11,767) Singapore Dollar UBSW Sell 205,000 136,250 1/29/10 -- (11,749) Singapore Dollar HSBC Buy 818,000 589,985 1/29/10 565 -- Singapore Dollar UBSW Buy 205,000 146,968 1/29/10 1,030 -- Singapore Dollar BZWS Buy 205,000 147,090 1/29/10 908 -- New Zealand Dollar DBAB Sell 179,187 90,586 2/02/10 -- (37,140) Singapore Dollar HSBC Sell 205,000 136,424 2/02/10 -- (11,570) Singapore Dollar BZWS Sell 82,000 54,558 2/02/10 -- (4,640) Singapore Dollar HSBC Buy 205,000 147,551 2/02/10 442 -- Singapore Dollar BZWS Buy 82,000 58,836 2/02/10 361 -- Mexican Peso CITI Sell 2,982,100 219,587 2/03/10 -- (9,028) Mexican Peso CITI Buy 2,982,100 198,763 2/03/10 29,852 -- New Zealand Dollar DBAB Sell 186,524 93,131 2/03/10 -- (39,815) Singapore Dollar HSBC Sell 257,000 170,652 2/03/10 -- (14,880) Singapore Dollar HSBC Buy 257,000 184,979 2/03/10 553 -- Euro DBAB Sell 462,000 653,896 2/04/10 -- (39,539) Mexican Peso HSBC Sell 2,510,000 184,163 2/04/10 -- (8,235) Mexican Peso UBSW Sell 2,000,000 146,690 2/04/10 -- (6,616)
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) Mexican Peso UBSW Buy 2,000,000 132,253 2/04/10 21,052 -- Mexican Peso HSBC Buy 2,510,000 165,742 2/04/10 26,656 -- Singapore Dollar HSBC Sell 258,000 170,369 2/04/10 -- (15,883) Singapore Dollar HSBC Buy 258,000 184,871 2/04/10 1,381 -- Mexican Peso DBAB Sell 1,989,739 147,881 2/05/10 -- (4,619) Singapore Dollar HSBC Sell 206,000 136,437 2/05/10 -- (12,274) Singapore Dollar HSBC Buy 206,000 147,610 2/05/10 1,102 -- Singapore Dollar JPHQ Sell 162,000 107,605 2/08/10 -- (9,340) Singapore Dollar JPHQ Buy 162,000 116,162 2/08/10 783 -- Singapore Dollar JPHQ Sell 206,000 136,804 2/09/10 -- (11,902) Singapore Dollar JPHQ Buy 206,000 148,106 2/09/10 601 -- Euro UBSW Sell 172,000 243,997 2/11/10 -- (14,155) Singapore Dollar BZWS Sell 81,500 54,638 2/11/10 -- (4,194) Singapore Dollar BZWS Buy 81,500 58,378 2/11/10 454 -- Malaysian Ringgit DBAB Buy 272,835 75,161 2/12/10 4,897 -- New Zealand Dollar HSBC Sell 20,321 10,555 2/12/10 -- (3,920) South Korean Won HSBC Buy 121,000,000 88,971 2/12/10 14,668 -- Malaysian Ringgit HSBC Buy 69,000 18,922 2/17/10 1,320 -- New Zealand Dollar HSBC Sell 27,121 13,566 2/22/10 -- (5,740) Malaysian Ringgit JPHQ Buy 900,000 242,424 2/25/10 21,529 -- Chilean Peso DBAB Buy 91,511,875 150,266 3/12/10 35,264 -- Indian Rupee DBAB Buy 5,455,800 204,261 NZD 3/15/10 -- (28,461) Singapore Dollar DBAB Sell 148,000 96,235 3/18/10 -- (10,575) Singapore Dollar DBAB Buy 148,000 106,549 3/18/10 261 -- Singapore Dollar DBAB Sell 222,000 144,610 3/19/10 -- (15,604) Singapore Dollar DBAB Buy 222,000 158,323 3/19/10 1,891 -- Mexican Peso CITI Sell 691,490 51,126 3/22/10 -- (1,553) Singapore Dollar DBAB Sell 295,000 192,398 3/22/10 -- (20,495) Singapore Dollar DBAB Buy 295,000 212,374 3/22/10 519 -- Singapore Dollar UBSW Sell 268,000 176,449 3/23/10 -- (16,958) Singapore Dollar UBSW Buy 268,000 193,111 3/23/10 296 -- Australian Dollar BZWS Sell 32,950 22,411 3/24/10 -- (7,401) Singapore Dollar JPHQ Sell 73,000 48,380 3/31/10 -- (4,300) Singapore Dollar JPHQ Buy 73,000 52,337 3/31/10 342 -- Indian Rupee DBAB Buy 2,207,000 42,652 4/09/10 4,475 -- Indian Rupee DBAB Buy 4,732,000 91,387 4/12/10 9,636 -- Indian Rupee JPHQ Buy 3,179,000 60,935 4/13/10 6,928 -- Indian Rupee JPHQ Buy 3,120,000 60,926 4/15/10 5,669 -- Indian Rupee DBAB Buy 1,094,000 21,326 4/19/10 2,019 -- Indian Rupee JPHQ Buy 1,559,000 30,557 4/19/10 2,710 -- Malaysian Ringgit JPHQ Buy 57,051 15,759 4/19/10 940 -- Malaysian Ringgit JPHQ Buy 163,000 45,395 4/20/10 2,312 --
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) Chilean Peso CITI Buy 134,651,000 229,506 4/23/10 43,393 -- Chilean Peso CITI Buy 131,482,000 224,311 4/26/10 42,159 -- Indian Rupee DBAB Buy 2,216,000 42,762 4/26/10 4,500 -- Chilean Peso JPHQ Buy 103,971,000 177,683 4/27/10 33,030 -- Chilean Peso CITI Buy 104,344,000 177,682 4/27/10 33,786 -- Indian Rupee JPHQ Buy 316,000 6,106 4/27/10 633 -- Chilean Peso UBSW Buy 20,984,000 35,536 4/28/10 6,991 -- Chilean Peso CITI Buy 167,590,000 284,292 4/28/10 55,352 -- Indian Rupee JPHQ Buy 1,569,000 30,555 4/28/10 2,904 -- Peruvian Nuevo Sol DBAB Buy 178,448 57,536 4/29/10 4,324 -- Indian Rupee JPHQ Buy 1,570,000 30,545 4/30/10 2,931 -- Peruvian Nuevo Sol DBAB Buy 70,000 23,404 5/10/10 861 -- Peruvian Nuevo Sol DBAB Buy 130,618 42,563 5/18/10 2,711 -- Indian Rupee DBAB Buy 3,003,000 61,187 6/01/10 2,701 -- New Zealand Dollar DBAB Sell 174,395 121,813 6/01/10 -- (1,356) New Zealand Dollar UBSW Sell 175,451 122,567 6/01/10 -- (1,348) New Zealand Dollar CITI Sell 99,257 69,220 6/01/10 -- (882) Indian Rupee HSBC Buy 89,000 1,835 6/02/10 58 -- New Zealand Dollar BZWS Sell 145,433 102,426 6/02/10 -- (1,868) New Zealand Dollar DBAB Sell 75,222 53,080 6/02/10 -- (863) New Zealand Dollar FBCO Sell 24,823 17,501 6/02/10 -- (301) Indian Rupee HSBC Buy 441,000 9,188 6/03/10 193 -- Indian Rupee HSBC Buy 2,941,000 61,194 6/04/10 1,363 -- Poland Zloty DBAB Buy 259,000 56,934 EUR 6/04/10 6,935 -- Indian Rupee DBAB Buy 1,470,000 30,587 6/07/10 675 -- Poland Zloty DBAB Buy 245,000 53,373 EUR 6/07/10 7,270 -- Indian Rupee HSBC Buy 590,000 12,228 6/08/10 319 -- Indian Rupee DBAB Buy 742,000 15,394 6/08/10 385 -- Poland Zloty CITI Buy 98,000 21,278 EUR 6/08/10 3,013 -- Mexican Peso DBAB Sell 1,448,433 103,841 6/09/10 -- (5,265) New Zealand Dollar BZWS Sell 145,433 102,365 6/09/10 -- (1,861) Indian Rupee DBAB Buy 599,000 12,312 6/10/10 424 -- Indian Rupee HSBC Buy 600,000 12,308 6/11/10 449 -- Indian Rupee BZWS Buy 895,000 18,454 6/11/10 575 -- Indian Rupee DBAB Buy 1,499,000 30,774 6/16/10 1,086 -- Indian Rupee DBAB Buy 1,365,000 27,688 6/21/10 1,315 -- Indian Rupee JPHQ Buy 1,388,000 28,154 6/22/10 1,336 -- Swedish Krona CITI Buy 4,902,115 447,000 EUR 6/22/10 33,268 -- Indian Rupee DBAB Buy 2,100,000 42,224 6/24/10 2,388 -- Indian Rupee HSBC Buy 1,410,000 28,144 6/25/10 1,808 -- Swedish Krona UBSW Buy 962,000 86,489 EUR 6/28/10 8,382 -- Swedish Krona UBSW Buy 699,000 63,081 EUR 6/29/10 5,736 --
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) Chilean Peso DBAB Buy 226,696,000 430,000 7/02/10 30,148 -- Indian Rupee DBAB Buy 21,061,400 430,000 7/06/10 17,078 -- Indian Rupee JPHQ Buy 1,395,000 28,142 7/09/10 1,465 -- Indian Rupee DBAB Buy 1,394,000 28,145 7/09/10 1,441 -- Malaysian Ringgit DBAB Buy 124,120 34,911 7/09/10 1,319 -- Indian Rupee DBAB Buy 704,000 14,066 7/12/10 872 -- Indian Rupee JPHQ Buy 847,000 16,887 7/12/10 1,086 -- Malaysian Ringgit DBAB Buy 157,210 44,063 7/12/10 1,822 -- Malaysian Ringgit JPHQ Buy 53,000 14,765 7/13/10 704 -- Malaysian Ringgit DBAB Buy 1,514,460 428,055 7/30/10 13,742 -- New Zealand Dollar DBAB Sell 291,211 187,394 7/30/10 -- (17,216) South Korean Won DBAB Buy 1,081,200,000 869,132 7/30/10 53,781 -- New Zealand Dollar DBAB Sell 290,103 186,348 8/03/10 -- (17,412) New Zealand Dollar BZWS Sell 113,563 72,908 8/03/10 -- (6,856) New Zealand Dollar DBAB Sell 114,936 73,433 8/04/10 -- (7,288) New Zealand Dollar BZWS Sell 57,220 36,735 8/04/10 -- (3,451) New Zealand Dollar HSBC Sell 656,000 424,301 8/05/10 -- (36,374) New Zealand Dollar CITI Sell 288,096 188,134 8/05/10 -- (14,181) New Zealand Dollar DBAB Sell 85,464 55,705 8/05/10 -- (4,312) New Zealand Dollar CITI Sell 112,825 73,733 8/06/10 -- (5,491) New Zealand Dollar FBCO Sell 56,308 36,671 8/06/10 -- (2,868) New Zealand Dollar FBCO Sell 235,056 154,549 8/09/10 -- (10,461) New Zealand Dollar CITI Sell 111,326 73,192 8/09/10 -- (4,959) New Zealand Dollar DBAB Sell 111,828 73,560 8/09/10 -- (4,943) New Zealand Dollar FBCO Sell 110,249 73,220 8/11/10 -- (4,162) New Zealand Dollar DBAB Sell 229,511 149,564 8/12/10 -- (11,511) New Zealand Dollar DBAB Sell 58,000 37,648 8/13/10 -- (3,054) New Zealand Dollar DBAB Sell 62,000 40,926 8/16/10 -- (2,571) Brazilian Real DBAB Buy 109,000 5,293,803 JPY 8/17/10 -- (2,418) Israeli Shekel CITI Buy 414,000 109,252 8/17/10 85 -- Japanese Yen UBSW Sell 15,167,000 159,895 8/17/10 -- (15,980) Brazilian Real DBAB Buy 81,000 3,900,150 JPY 8/18/10 -- (1,416) Japanese Yen JPHQ Sell 7,537,000 79,951 8/18/10 -- (7,448) Brazilian Real DBAB Buy 121,000 5,687,726 JPY 8/19/10 -- (526) Israeli Shekel DBAB Buy 41,000 10,801 8/19/10 27 -- Israeli Shekel CITI Buy 414,000 109,070 8/19/10 268 -- Japanese Yen HSBC Sell 7,502,000 79,741 8/19/10 -- (7,254) Euro UBSW Sell 170,000 239,641 8/20/10 -- (15,019) Israeli Shekel CITI Buy 158,900 41,574 8/20/10 391 -- Japanese Yen DBAB Sell 7,530,000 79,735 8/20/10 -- (7,585) Japanese Yen BZWS Sell 7,521,000 79,859 8/20/10 -- (7,356) Euro UBSW Sell 170,000 240,458 8/23/10 -- (14,191)
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) Israeli Shekel CITI Buy 271,200 71,121 8/23/10 502 -- Japanese Yen CITI Sell 15,026,000 159,711 8/23/10 -- (14,541) Japanese Yen FBCO Sell 14,916,000 159,713 8/23/10 -- (13,263) Japanese Yen JPHQ Sell 14,994,000 159,710 8/24/10 -- (14,173) Japanese Yen BZWS Sell 14,944,000 159,709 8/24/10 -- (13,594) New Zealand Dollar FBCO Sell 101,146 66,694 8/24/10 -- (4,218) Japanese Yen DBAB Sell 7,432,000 79,854 8/25/10 -- (6,335) New Zealand Dollar DBAB Sell 101,000 67,519 8/27/10 -- (3,272) Swedish Krona DBAB Buy 11,117,000 1,096,351 EUR 8/30/10 -- (47,334) Brazilian Real DBAB Buy 81,000 3,784,563 JPY 8/31/10 -- (214) Japanese Yen JPHQ Sell 7,449,000 79,856 9/01/10 -- (6,539) Brazilian Real DBAB Buy 121,000 5,594,677 JPY 9/02/10 331 -- Japanese Yen HSBC Sell 7,370,000 79,846 9/02/10 -- (5,635) Euro BZWS Sell 170,000 242,148 9/07/10 -- (12,449) Japanese Yen HSBC Sell 11,101,000 119,780 9/09/10 -- (8,990) Japanese Yen DBAB Sell 12,835,000 139,821 9/10/10 -- (9,066) Japanese Yen HSBC Sell 11,063,000 119,781 9/10/10 -- (8,550) Japanese Yen UBSW Sell 10,661,000 116,509 9/13/10 -- (7,166) Brazilian Real DBAB Buy 182,000 8,486,168 JPY 9/15/10 -- (636) Japanese Yen UBSW Sell 12,634,000 139,817 9/15/10 -- (6,751) Japanese Yen HSBC Sell 8,482,000 93,207 9/15/10 -- (5,193) Japanese Yen BZWS Sell 8,389,000 93,216 9/15/10 -- (4,105) Japanese Yen HSBC Sell 12,582,000 139,816 9/16/10 -- (6,152) Japanese Yen DBAB Sell 4,218,000 46,608 9/16/10 -- (2,326) Euro BZWS Sell 19,300 28,416 9/20/10 -- (483) Japanese Yen JPHQ Sell 8,436,000 93,215 9/21/10 -- (4,661) Japanese Yen HSBC Sell 4,182,000 46,601 9/21/10 -- (1,919) Euro UBSW Sell 125,681 184,277 9/23/10 -- (3,904) Euro JPHQ Sell 55,232 81,777 9/24/10 -- (921) Indian Rupee HSBC Buy 3,936,000 79,894 9/24/10 3,233 -- Indian Rupee DBAB Buy 7,870,000 159,797 9/24/10 6,416 -- Japanese Yen JPHQ Sell 10,532,000 116,382 9/24/10 -- (5,819) Swedish Krona UBSW Buy 1,881,000 186,876 EUR 9/24/10 -- (10,017) Indian Rupee DBAB Buy 9,760,000 199,742 9/27/10 6,348 -- Indian Rupee JPHQ Buy 3,908,000 79,886 9/27/10 2,635 -- Japanese Yen JPHQ Sell 1,047,000 11,635 9/27/10 -- (514) Malaysian Ringgit JPHQ Buy 404,752 116,509 9/27/10 1,386 -- Swedish Krona UBSW Buy 1,879,000 186,855 EUR 9/27/10 -- (10,267) Japanese Yen JPHQ Sell 2,502,000 27,803 9/28/10 -- (1,229) Swedish Krona DBAB Buy 929,000 92,161 EUR 9/28/10 -- (4,742) Indian Rupee DBAB Buy 7,850,000 159,780 9/29/10 5,958 -- Indian Rupee JPHQ Buy 9,008,000 183,755 9/29/10 6,431 --
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) Japanese Yen JPHQ Sell 4,170,000 46,338 9/29/10 -- (2,050) Euro DBAB Sell 780,000 1,141,085 10/04/10 -- (26,623) Euro UBSW Sell 430,000 628,402 10/04/10 -- (15,334) Philippine Peso DBAB Buy 7,621,000 157,961 10/04/10 -- (855) Philippine Peso HSBC Buy 6,113,000 126,367 10/04/10 -- (348) Philippine Peso DBAB Buy 9,112,000 189,561 10/05/10 -- (1,727) Philippine Peso HSBC Buy 9,114,000 189,556 10/05/10 -- (1,681) Euro UBSW Sell 195,000 283,277 10/06/10 -- (8,642) Philippine Peso JPHQ Buy 2,407,000 50,546 10/06/10 -- (931) Philippine Peso DBAB Buy 7,480,000 157,966 10/07/10 -- (3,789) Euro UBSW Sell 193,000 283,469 10/08/10 -- (5,448) Philippine Peso DBAB Buy 5,986,000 126,383 10/08/10 -- (3,006) Philippine Peso HSBC Buy 5,997,000 126,376 10/08/10 -- (2,772) Philippine Peso JPHQ Buy 2,986,000 63,181 10/08/10 -- (1,637) Philippine Peso CITI Buy 2,994,000 63,186 10/08/10 -- (1,477) Malaysian Ringgit DBAB Buy 157,442 45,683 10/12/10 161 -- Philippine Peso DBAB Buy 1,782,000 37,907 10/12/10 -- (1,185) Malaysian Ringgit DBAB Buy 67,946 20,006 10/13/10 -- (222) Philippine Peso JPHQ Buy 10,386,000 221,584 10/13/10 -- (7,569) Philippine Peso HSBC Buy 2,972,000 63,194 10/13/10 -- (1,952) Chinese Yuan HSBC Buy 472,423 47,974 EUR 10/15/10 -- (1,907) Philippine Peso JPHQ Buy 644,000 13,731 10/15/10 -- (462) Chinese Yuan HSBC Buy 474,727 48,062 EUR 10/18/10 -- (1,685) Philippine Peso JPHQ Buy 2,137,000 45,740 10/18/10 -- (1,715) Chinese Yuan HSBC Buy 636,308 64,236 EUR 10/19/10 -- (1,977) Philippine Peso DBAB Buy 1,077,000 22,876 10/19/10 -- (689) Chinese Yuan HSBC Buy 393,000 59,559 10/21/10 -- (1,393) Philippine Peso DBAB Buy 4,305,000 91,498 10/21/10 -- (2,823) Philippine Peso JPHQ Buy 2,161,000 45,735 10/21/10 -- (1,223) Chinese Yuan HSBC Buy 568,068 86,283 10/25/10 -- (2,191) Philippine Peso HSBC Buy 6,664,000 139,853 10/25/10 -- (2,612) Philippine Peso DBAB Buy 4,438,000 93,235 10/25/10 -- (1,837) Philippine Peso JPHQ Buy 2,220,000 46,609 10/25/10 -- (890) Chinese Yuan HSBC Buy 968,175 146,644 10/26/10 -- (3,317) Euro DBAB Sell 306,000 451,962 10/26/10 -- (5,997) Euro BZWS Sell 152,000 227,407 10/26/10 -- (76) Indian Rupee HSBC Buy 5,734,000 120,614 10/26/10 242 -- Indian Rupee DBAB Buy 17,184,000 361,860 10/26/10 328 -- Philippine Peso HSBC Buy 5,763,000 121,216 10/26/10 -- (2,536) Chinese Yuan HSBC Buy 578,604 87,462 10/27/10 -- (1,803) Euro UBSW Sell 289,000 432,792 10/27/10 281 -- Indian Rupee HSBC Buy 8,542,000 180,929 10/27/10 -- (900)
Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) Philippine Peso DBAB Buy 1,781,000 37,291 10/28/10 -- (617) Euro DBAB Sell 39,000 57,607 11/02/10 -- (755) Euro DBAB Sell 148,000 217,590 11/03/10 -- (3,882) Euro DBAB Sell 113,000 165,686 11/05/10 -- (3,406) Japanese Yen CITI Sell 34,542,911 381,764 11/08/10 -- (19,347) Japanese Yen BZWS Sell 33,933,000 378,896 11/10/10 -- (15,147) Japanese Yen BZWS Sell 44,512,000 496,758 11/12/10 -- (20,150) Japanese Yen UBSW Sell 34,402,400 384,260 11/12/10 -- (15,248) Japanese Yen DBAB Sell 23,793,000 265,621 11/15/10 -- (10,696) Japanese Yen JPHQ Sell 11,881,000 132,808 11/16/10 -- (5,173) Japanese Yen BZWS Sell 5,730,000 63,777 11/16/10 -- (2,769) Japanese Yen BZWS Sell 23,724,000 265,628 11/17/10 -- (9,898) Japanese Yen UBSW Sell 9,491,000 106,247 11/17/10 -- (3,980) Japanese Yen HSBC Sell 6,209,000 69,066 11/17/10 -- (3,044) Chinese Yuan JPHQ Buy 17,500,000 2,654,532 11/18/10 -- (61,166) Euro DBAB Sell 59,619 88,593 11/18/10 -- (603) Euro UBSW Sell 151,344 226,077 11/18/10 -- (351) Japanese Yen BZWS Sell 33,082,000 371,870 11/18/10 -- (12,344) Malaysian Ringgit JPHQ Buy 8,405,000 2,500,000 11/18/10 -- (54,700) Malaysian Ringgit DBAB Buy 3,100,000 920,428 11/18/10 -- (18,532) Euro DBAB Sell 21,877 32,782 11/29/10 57 -- Japanese Yen BZWS Sell 37,381,000 424,998 11/29/10 -- (9,228) Japanese Yen BOFA Sell 25,656,000 289,530 11/29/10 -- (8,496) Japanese Yen CITI Sell 9,278,000 106,247 11/29/10 -- (1,529) Norwegian Krone UBSW Buy 2,184,000 255,430 EUR 11/29/10 -- (4,606) Swedish Krona BZWS Buy 446,080 43,127 EUR 11/30/10 -- (563) Japanese Yen DBAB Sell 23,005,000 265,625 12/01/10 -- (1,615) Norwegian Krone UBSW Buy 710,000 82,319 EUR 12/01/10 -- (433) Mexican Peso CITI Sell 884,000 65,091 12/02/10 -- (263) -------- ----------- Unrealized appreciation (depreciation) 868,517 (1,615,943) -------- ----------- Net unrealized appreciation (depreciation) $ (747,426) ===========
At November 30,2009, the Fund had the following interest rate swap contracts outstanding. See Note 3.
PAY/RECEIVE FLOATING FIXED FLOATING NOTIONAL EXPIRATION UNREALIZED UNREALIZED COUNTERPARTY RATE RATE RATE AMOUNT(a) DATE APPRECIATION DEPRECIATION ------------ ----------- ----- ------------------------- ----------- ---------- ------------ ------------ CITI Pay 8.00% MXN Interbank Equilibrium Interest Rate $ 600,000 MXN 1/18/19 $ -- $(75) CITI Pay 8.07% MXN Interbank Equilibrium Interest Rate 3,010,000 MXN 1/22/19 607 -- CITI Pay 8.28% MXN Interbank Equilibrium Interest Rate 13,250,000 MXN 9/9/19 11,188 -- ------- ---- Unrealized appreciation (depreciation) 11,795 (75) ------- ---- Net unrealized appreciation (depreciation) $11,720 $ -- ======= ====
(a) In U.S. dollars unless otherwise indicated. Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) CURRENCY AUD Australian Dollar BRL Brazilian Real EUR Euro IDR Indonesian Rupiah ILS New Israeli Shekel KRW South Korean Won LKR Sri Lankan Rupee MXN Mexican Peso MYR Malaysian Ringgit NOK Norwegian Krone NZD New Zealand Dollar PLN Polish Zloty SEK Swedish Krona SELECTED PORTFOLIO FRN Floating Rate Note COUNTERPARTY BOFA Bank of America N.A. BZWS Barclays Bank PLC CITI Citibank N.A. DBAB Deutsche Bank AG FBCO Credit Suisse International HSBC HSBC Bank USA JPHQ JPMorgan Chase Bank, N.A. UBSW UBS AG Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) 1. ORGANIZATION Templeton Income Trust (Trust) is registered under the Investment Company Act of 1940, as amended, as an open-end investment company, consisting of three funds (Funds). 2. SECURITY VALUATION Corporate debt securities, government securities, and municipal securities generally trade in the over-the-counter market rather than on a securities exchange. The Trust may utilize independent pricing services, quotations from bond dealers, and information with respect to bond and note transactions, to assist in determining a current market value for each security. The Trust's pricing services may use valuation models or matrix pricing which considers information with respect to comparable bond and note transactions, quotations from bond dealers, or by reference to other securities that are considered comparable in such characteristics as rating, interest rate and maturity date, option adjusted spread models, prepayment projections, interest rate spreads and yield curves, to determine current value. Debt securities denominated in a foreign currency are converted into their U.S. dollar equivalent at the foreign exchange rate in effect at the close of the NYSE on the date that the values of the foreign debt securities are determined. Investments in open-end mutual funds are valued at the closing net asset value. The Trust has procedures to determine the fair value of individual securities and other assets for which market prices are not readily available or which may not be reliably priced. Methods for valuing these securities may include: fundamental analysis based upon the underlying investment book value, anticipated future cash flows, market changes in comparable or similar securities, matrix pricing, discounts from market prices of similar securities, or discounts applied due to the nature and duration of restrictions on the disposition of the securities. Due to the inherent uncertainty of valuations of such securities, the fair values may differ significantly from the values that would have been used had a ready market for such investments existed. Occasionally, events occur between the time at which trading in a security is completed and the close of the NYSE that might call into question the availability (including the reliability) of the value of a portfolio security held by the Fund. If such an event occurs, the securities may be valued using fair value procedures, which may include the use of independent pricing services. All security valuation procedures are approved by the Trust's Board of Trustees. 3. DERIVATIVE FINANCIAL INSTRUMENTS The Funds may invest in derivative financial instruments (derivatives) in order to manage risk or gain exposure to various other investments or markets. Derivatives are financial contracts based on an underlying or notional amount, require no initial investment or an initial net investment that is smaller than would normally be required to have a similar response to changes in market factors, and require or permit net settlement. Derivatives may contain various risks including the potential inability of the counterparty to fulfill their obligations under the terms of the contract, the potential for an illiquid secondary market, and the potential for market movements. Derivatives are marked to market daily based upon quotations from market makers or the Fund's independent pricing services and the Fund's net benefit or obligation under the contract, as measured by the fair market value of the contract, is included in net assets. The Funds enter into forward exchange contracts in order to hedge against fluctuations in foreign exchange rates or to gain exposure to certain foreign currencies. A forward exchange contract is an agreement between the Fund and a counterparty to buy or sell a foreign currency for a specific exchange rate on a future date. Pursuant to the terms of the forward exchange contacts, cash or securities may be required to be deposited as collateral. The Funds enter into interest rate swap contracts generally in order to manage interest rate risk. An interest rate swap is an agreement between the Fund and a counterparty to exchange cash flows based on the difference between two interest rates, applied to a notional principal amount. Over the term of the contract, contractually required payments to be paid and to be received are accrued daily and recorded as unrealized depreciation and appreciation until the payments are made, at which time they are realized. Pursuant to the terms of the interest rate swap contract, cash or securities may be required to be deposited as collateral. Any cash received may be invested according to the Funds' investment objectives. 4. INCOME TAXES At November 30, 2009, the cost of investments and net unrealized appreciation (depreciation) for income tax purposes were as follows:
TEMPLETON TEMPLETON TEMPLETON GLOBAL BOND GLOBAL TOTAL INTERNATIONAL FUND RETURN FUND BOND FUND --------------- ------------ ------------- Cost of investments $21,501,537,071 $228,457,310 $49,315,167 =============== ============ =========== Unrealized appreciation $ 2,194,713,253 $ 11,336,786 $ 2,772,372 Unrealized depreciation (448,351,841) (1,087,496) (273,389) --------------- ------------ ----------- Net unrealized appreciation (depreciation) $ 1,746,361,412 $ 10,249,290 $ 2,498,983 =============== ============ ===========
5. 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' investments and are summarized in the following fair value hierarchy: Templeton Income Trust STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED) (CONTINUED) - Level 1 - quoted prices in active markets for identical securities - Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speed, credit risk, etc.) - Level 3 - significant unobservable inputs (including the Funds' own assumptions in determining the fair value of investments) The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities. The following is a summary of the inputs used as of November 30, 2009, in valuing the Funds' assets and liabilities carried at fair value:
Level 1 Level 2 Level 3 Total -------------- --------------- ------- --------------- TEMPLETON GLOBAL BOND FUND Assets: Investments in Securities Bonds(a) $ -- $20,567,618,621 $-- 20,567,618,621 Municipal Bonds -- 607,060,849 -- 607,060,849 Short Term Investments 1,693,124,655 380,094,358 -- 2,073,219,013 -------------- --------------- --- --------------- Total Investments in Securities $1,693,124,655 $21,554,773,828 $-- $23,247,898,483 -------------- --------------- --- --------------- Swaps -- 68,690,081 -- 68,690,081 Forward Exchange Contracts -- 428,654,991 -- 428,654,991 Liabilities: Swaps -- 4,284,768 -- 4,284,768 Forward Exchange Contracts -- 791,771,106 -- 791,771,106 TEMPLETON GLOBAL TOTAL RETURN FUND Assets: Investments in Securities: Equity Investments:(b) United States $ -- $ 3,631 $-- $ 3,631 Bonds(a) -- 225,588,887 -- 225,588,887 Municipal Bonds -- 1,175,905 -- 1,175,905 Short Term Investments 10,668,411 1,269,766 -- 11,938,177 -------------- --------------- --- --------------- Total Investments in Securities $ 10,668,411 $ 228,038,189 $-- $ 238,706,600 -------------- --------------- --- --------------- Swaps -- 31,145 -- 31,145 Forward Exchange Contracts -- 1,807,734 -- 1,807,734 Liabilities: Swaps -- 27,849 -- 27,849 Forward Exchange Contracts -- 4,632,618 -- 4,632, 618 TEMPLETON INTERNATIONAL BOND FUND ASSETS: Investments in Securities Bonds(a) $ -- $ 38,827,792 $-- $ 38,827,792 Short Term Investments 12,429,586 556,772 12,986,358 -------------- --------------- --- --------------- Total Investments in Securities $ 12,429,586 $ 39,384,564 $-- $ 51,814,150 -------------- --------------- --- --------------- Swaps -- 11,795 -- 11,795 Forward Exchange Contracts -- 868,517 -- 868,517 Liabilities: Swaps -- 75 -- 75 Forward Exchange Contracts -- 1,615,943 -- 1,615, 943
(a) For detailed bonds descriptions, see the accompanying Statements of Investments. (b) Includes preferred stock. 6. SUBSEQUENT EVENTS The Funds have evaluated subsequent events through January 22, 2010, the issuance date of the financial statements and determined that no events have occurred that require disclosure. For information on the Funds' policy regarding other significant accounting policies, please refer to the Funds' most recent semiannual or annual shareholder report. ITEM 2. CONTROLS AND PROCEDURES. (a) EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES. The Registrant maintains disclosure controls and procedures that are designed to ensure that information required to be disclosed in the Registrant's filings under the Securities Exchange Act of 1934 and the Investment Company Act of 1940 is recorded, processed, summarized and reported within the periods specified in the rules and forms of the Securities and Exchange Commission. Such information is accumulated and communicated to the Registrant's management, including its principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure. The Registrant's management, including the principal executive officer and the principal financial officer, recognizes that any set of controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives. Within 90 days prior to the filing date of this Quarterly Schedule of Portfolio Holdings on Form N-Q, the Registrant had carried out an evaluation, under the supervision and with the participation of the Registrant's management, including the Registrant's principal executive officer and the Registrant's principal financial officer, of the effectiveness of the design and operation of the Registrant's disclosure controls and procedures. Based on such evaluation, the Registrant's principal executive officer and principal financial officer concluded that the Registrant's disclosure controls and procedures are effective. (b) CHANGES IN INTERNAL CONTROLS. There have been no significant changes in the Registrant's internal controls or in other factors that could significantly affect the internal controls subsequent to the date of their evaluation in connection with the preparation of this Quarterly Schedule of Portfolio Holdings on Form N-Q. ITEM 3. EXHIBITS. (a) Certification pursuant to Section 30a-2 under the Investment Company Act of 1940 of Laura F. Fergerson, Chief Executive Officer - Finance and Administration, and Mark H. Otani, Chief Financial Officer and Chief Accounting Officer. 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, thereunto duly authorized. TEMPLETON INCOME TRUST By /s/LAURA F. FERGERSON -------------------------------- Laura F. Fergerson Chief Executive Officer - Finance and Administration Date January 27, 2010 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/LAURA F. FERGERSON -------------------------------- Laura F. Fergerson Chief Executive Officer - Finance and Administration Date January 27, 2010 By /s/MARK H. OTANI ---------------------------------- Mark H. Otani Chief Financial Officer and Chief Accounting Officer Date January 27, 2010