NPORT-EX 2 TIT.htm
Not
FDIC
Insured
May
Lose
Value
No
Bank
Guarantee
TIT-Q1PH
1
Schedules
of
Investments
(unaudited)
Templeton
Global
Bond
Fund
2
Templeton
Global
Total
Return
Fund
7
Templeton
International
Bond
Fund
14
Templeton
Sustainable
Emerging
Markets
Bond
Fund
18
Notes
to
Schedules
of
Investments
23
Templeton
Income
Trust
Schedule
of
Investments
(unaudited),
March
31,
2023
Templeton
Global
Bond
Fund
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
2
a
a
Industry
Principal
Amount
*
a
Value
a
a
a
a
a
a
Foreign
Government
and
Agency
Securities
56.8%
Australia
7.5%
a
Australia
Government
Bond
,
Senior
Bond,
Reg
S,
4.25%,
4/21/26
273,480,000
AUD
$
189,755,182
Senior
Note,
Reg
S,
0.25%,
11/21/25
84,160,000
AUD
52,494,772
Senior
Note,
Reg
S,
0.5%,
9/21/26
..
292,440,000
AUD
179,836,741
422,086,695
Brazil
2.1%
Brazil
Notas
do
Tesouro
Nacional
,
10%,
1/01/27
..................
433,584,000
BRL
80,535,003
10%,
1/01/31
..................
208,480,000
BRL
36,124,502
116,659,505
Colombia
5.3%
Colombia
Government
Bond,
Senior
Bond,
9.85%,
6/28/27
............
10,884,000,000
COP
2,187,993
Colombia
Titulos
de
Tesoreria
,
B,
10%,
7/24/24
................
359,411,500,000
COP
76,477,745
B,
6.25%,
11/26/25
..............
126,303,000,000
COP
24,317,427
B,
7.5%,
8/26/26
...............
172,321,200,000
COP
33,337,968
B,
5.75%,
11/03/27
..............
91,769,000,000
COP
15,975,058
B,
6%,
4/28/28
.................
322,225,100,000
COP
55,512,851
B,
7.75%,
9/18/30
..............
295,978,800,000
COP
51,969,779
B,
7%,
3/26/31
.................
110,158,200,000
COP
18,212,286
B,
7%,
6/30/32
.................
107,691,000,000
COP
17,151,416
B,
6.25%,
7/09/36
..............
18,484,000,000
COP
2,516,680
297,659,203
Germany
2.6%
a
Bundesobligation
,
Reg
S,
10/18/24
...
33,025,000
EUR
34,362,295
a
Bundesrepublik
Deutschland,
Reg
S,
6.25%,
1/04/24
................
32,383,000
EUR
36,010,246
a
Bundesschatzanweisungen
,
Reg
S,
0.4%,
9/13/24
.................
71,665,000
EUR
75,159,467
145,532,008
Ghana
2.6%
b
Ghana
Government
Bond
,
PIK,
8.35%,
2/16/27
.............
177,716,953
GHS
13,498,438
PIK,
8.5%,
2/15/28
..............
177,716,953
GHS
13,802,747
PIK,
8.65%,
2/13/29
.............
177,716,953
GHS
13,505,629
PIK,
8.8%,
2/12/30
..............
177,716,953
GHS
13,130,774
PIK,
8.95%,
2/11/31
.............
157,970,626
GHS
11,449,222
PIK,
9.1%,
2/10/32
..............
157,970,626
GHS
11,404,705
PIK,
9.25%,
2/08/33
.............
157,970,626
GHS
11,336,061
PIK,
9.4%,
2/07/34
..............
157,970,626
GHS
11,233,170
PIK,
9.55%,
2/06/35
.............
157,970,626
GHS
11,148,626
PIK,
9.7%,
2/05/36
..............
157,970,626
GHS
11,048,826
PIK,
9.85%,
2/03/37
.............
157,970,626
GHS
11,034,622
PIK,
10%,
2/02/38
..............
157,970,626
GHS
11,034,699
143,627,519
India
4.5%
India
Government
Bond
,
8.33%,
7/09/26
................
8,401,000,000
INR
105,496,744
7.26%,
1/14/29
................
6,911,000,000
INR
84,467,955
Templeton
Income
Trust
Schedule
of
Investments
(unaudited)
Templeton
Global
Bond
Fund
(continued)
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
3
a
a
Industry
Principal
Amount
*
a
Value
a
a
a
a
a
a
Foreign
Government
and
Agency
Securities
(continued)
India
(continued)
India
Government
Bond,
(continued)
Senior
Bond,
7.26%,
8/22/32
......
4,225,900,000
INR
$
51,419,017
Senior
Note,
7.1%,
4/18/29
.......
917,600,000
INR
11,090,346
252,474,062
Indonesia
9.2%
Indonesia
Government
Bond
,
FR39,
11.75%,
8/15/23
..........
641,965,000,000
IDR
43,781,785
FR40,
11%,
9/15/25
.............
241,585,000,000
IDR
17,830,647
FR44,
10%,
9/15/24
.............
248,790,000,000
IDR
17,490,466
FR46,
9.5%,
7/15/23
............
171,701,000,000
IDR
11,585,481
FR59,
7%,
5/15/27
..............
502,090,000,000
IDR
34,228,310
FR70,
8.375%,
3/15/24
..........
912,617,000,000
IDR
62,263,309
FR81,
6.5%,
6/15/25
............
162,429,000,000
IDR
10,871,569
FR86,
5.5%,
4/15/26
............
935,441,000,000
IDR
60,882,115
FR95,
6.375%,
8/15/28
..........
1,486,781,000,000
IDR
99,338,031
c
FR96,
7%,
2/15/33
..............
2,336,600,000,000
IDR
158,596,462
516,868,175
Malaysia
7.4%
Malaysia
Government
Bond
,
3.906%,
7/15/26
................
472,220,000
MYR
108,783,577
3.9%,
11/30/26
.................
226,950,000
MYR
52,172,457
3.892%,
3/15/27
................
19,290,000
MYR
4,421,125
3.502%,
5/31/27
................
30,640,000
MYR
6,932,616
3.899%,
11/16/27
...............
691,620,000
MYR
159,148,030
3.733%,
6/15/28
................
371,370,000
MYR
84,307,742
415,765,547
Mexico
2.3%
Mexican
Bonos
Desarr
Fixed
Rate
,
M,
7.5%,
5/26/33
...............
2,133,610,000
MXN
108,001,343
M
20,
Senior
Bond,
8.5%,
5/31/29
..
384,700,000
MXN
21,021,824
129,023,167
Norway
4.1%
a
Norway
Government
Bond
,
Senior
Bond,
144A,
Reg
S,
3%,
3/14/24
......................
1,557,308,000
NOK
148,314,088
Senior
Bond,
144A,
Reg
S,
1.75%,
3/13/25
......................
890,910,000
NOK
82,944,334
231,258,422
Singapore
1.7%
Singapore
Government
Bond,
2.625%,
8/01/32
......................
128,860,000
SGD
94,353,542
South
Korea
4.0%
Korea
Treasury
Bonds,
1.375%,
9/10/24
300,453,010,000
KRW
223,839,599
Thailand
3.5%
Thailand
Government
Bond
,
0.75%,
9/17/24
................
3,255,070,000
THB
93,826,853
1%,
6/17/27
...................
2,318,690,000
THB
65,207,832
Templeton
Income
Trust
Schedule
of
Investments
(unaudited)
Templeton
Global
Bond
Fund
(continued)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
4
a
a
Industry
Principal
Amount
*
a
Value
a
a
a
a
a
a
Foreign
Government
and
Agency
Securities
(continued)
Thailand
(continued)
Thailand
Government
Bond,
(continued)
Senior
Note,
0.66%,
11/22/23
......
1,302,120,000
THB
$
37,837,236
196,871,921
Total
Foreign
Government
and
Agency
Securities
(Cost
$3,431,709,906)
...........
3,186,019,365
U.S.
Government
and
Agency
Securities
18.6%
United
States
18.6%
U.S.
Treasury
Notes
,
4.5%,
11/30/24
.................
44,189,000
44,370,244
1.75%,
12/31/24
................
145,678,000
139,802,510
2.875%,
5/31/25
................
37,950,000
37,059,806
2.625%,
12/31/25
...............
418,885,000
405,557,583
1.625%,
2/15/26
................
226,420,000
213,016,113
2.125%,
5/31/26
................
103,431,000
98,332,174
1.625%,
10/31/26
...............
111,130,000
103,270,591
1,041,409,021
Total
U.S.
Government
and
Agency
Securities
(Cost
$1,112,932,713)
..............
1,041,409,021
Total
Long
Term
Investments
(Cost
$4,544,642,619)
.............................
4,227,428,386
Short
Term
Investments
23.5%
a
a
Industry
Principal
Amount
*
a
Value
a
a
a
a
a
a
Foreign
Government
and
Agency
Securities
18.8%
Brazil
4.0%
d
Brazil
Letras
do
Tesouro
Nacional
,
1/01/25
......................
1,367,410,000
BRL
220,829,436
Germany
1.9%
d
Germany
Treasury
Bills
,
a
Reg
S,
9/20/23
.................
12,620,000
EUR
13,505,883
a
Reg
S,
10/18/23
................
89,054,000
EUR
95,081,934
108,587,817
Japan
10.1%
d
Japan
Treasury
Bills
,
5/10/23
......................
25,360,000,000
JPY
191,077,979
6/19/23
......................
8,066,100,000
JPY
60,789,430
9/20/23
......................
28,889,900,000
JPY
217,823,440
12/20/23
.....................
3,226,000,000
JPY
24,328,877
2/20/24
......................
9,663,100,000
JPY
72,877,238
566,896,964
Singapore
2.8%
d
Singapore
Treasury
Bills
,
5/30/23
....
211,090,000
SGD
157,652,552
Total
Foreign
Government
and
Agency
Securities
(Cost
$1,023,807,365)
...........
1,053,966,769
Templeton
Income
Trust
Schedule
of
Investments
(unaudited)
Templeton
Global
Bond
Fund
(continued)
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
5
At
March
31,
2023,
the
Fund
had
the
following
forward
exchange
contracts
outstanding.
Short
Term
Investments
(continued)
a
a
Industry
Shares
a
Value
a
a
a
a
a
a
Money
Market
Funds
4.7%
United
States
4.7%
e,f
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
4.371%
.........
266,129,301
$
266,129,301
Total
Money
Market
Funds
(Cost
$266,129,301)
.................................
266,129,301
a
a
a
a
a
Total
Short
Term
Investments
(Cost
$1,289,936,666
)
.............................
1,320,096,070
a
a
a
Total
Investments
(Cost
$5,834,579,285)
98.9%
..................................
$5,547,524,456
Other
Assets,
less
Liabilities
1.1%
.............................................
60,009,653
Net
Assets
100.0%
...........................................................
$5,607,534,109
a
a
a
*
The
principal
amount
is
stated
in
U.S.
dollars
unless
otherwise
indicated.
a
Security
was
purchased
pursuant
to
Rule
144A
or
Regulation
S
under
the
Securities
Act
of
1933.
144A
securities
may
be
sold
in
transactions
exempt
from
registration
only
to
qualified
institutional
buyers
or
in
a
public
offering
registered
under
the
Securities
Act
of
1933.
Regulation
S
securities
cannot
be
sold
in
the
United
States
without
either
an
effective
registration
statement
filed
pursuant
to
the
Securities
Act
of
1933,
or
pursuant
to
an
exemption
from
registration.
At
March
31,
2023,
the
aggregate
value
of
these
securities
was
$907,464,942,
representing
16.2%
of
net
assets.
b
Income
may
be
received
in
additional
securities
and/or
cash.
c
A
portion
or
all
of
the
security
purchased
on
a
delayed
delivery
basis.
d
The
security
was
issued
on
a
discount
basis
with
no
stated
coupon
rate.
e
See
Note
4
regarding
investments
in
affiliated
management
investment
companies.
f
The
rate
shown
is
the
annualized
seven-day
effective
yield
at
period
end.
Forward
Exchange
Contracts
Currency
Counter-
party
a
Type
Quantity
Contract
Amount
*
Settlement
Date
Unrealized
Appreciation
Unrealized
Depreciation
a
a
a
a
a
a
a
a
OTC
Forward
Exchange
Contracts
Chilean
Peso
......
JPHQ
Buy
9,328,000,000
11,630,198
4/10/23
$
99,165
$
—
Chilean
Peso
......
JPHQ
Sell
9,328,000,000
11,674,593
4/10/23
—
(54,770)
Indian
Rupee
......
HSBK
Buy
2,559,257,100
30,731,491
4/10/23
404,933
—
Indian
Rupee
......
HSBK
Sell
2,559,257,100
31,117,479
4/10/23
—
(18,944)
Chilean
Peso
......
GSCO
Buy
8,925,550,000
10,673,176
4/18/23
542,992
—
Chilean
Peso
......
JPHQ
Buy
17,871,274,547
21,799,554
4/20/23
654,558
—
Euro
.............
BZWS
Buy
32,638,000
35,437,111
4/25/23
70,624
(69,756)
Euro
.............
BZWS
Sell
32,638,000
36,250,863
4/25/23
812,884
—
Euro
.............
DBAB
Buy
90,939,000
98,683,594
4/25/23
167,507
(110,539)
Euro
.............
DBAB
Sell
90,939,000
90,663,819
4/25/23
—
(8,076,742)
South
Korean
Won
..
CITI
Buy
73,606,900,000
59,658,697
4/25/23
—
(3,247,546)
Canadian
Dollar
....
HSBK
Buy
272,781,000
204,419,914
5/03/23
—
(2,501,629)
Canadian
Dollar
....
HSBK
Sell
28,148,471
19,393,582
EUR
5/03/23
230,394
—
Euro
.............
HSBK
Sell
20,687,366
28,148,472
CAD
5/03/23
—
(1,635,782)
Chilean
Peso
......
GSCO
Buy
37,210,285,275
45,839,588
5/09/23
831,450
—
Chilean
Peso
......
MSCO
Buy
33,537,277,800
41,835,312
5/17/23
186,763
—
Chinese
Yuan
......
CITI
Buy
841,154,240
122,223,484
6/07/23
814,608
—
Chinese
Yuan
......
CITI
Sell
841,154,240
124,385,775
6/07/23
1,347,683
—
Indian
Rupee
......
JPHQ
Buy
2,589,343,200
30,930,457
6/14/23
476,585
—
Japanese
Yen
......
BOFA
Buy
27,371,868,200
205,997,127
6/15/23
2,407,050
—
Japanese
Yen
......
DBAB
Buy
35,628,107,310
265,623,901
6/15/23
5,641,703
—
Japanese
Yen
......
GSCO
Buy
22,289,000,000
167,636,883
6/15/23
2,067,305
—
South
Korean
Won
..
BNDP
Buy
205,374,700,000
155,748,542
6/15/23
2,139,830
—
South
Korean
Won
..
HSBK
Buy
169,800,000,000
130,194,755
6/20/23
382,124
—
Chinese
Yuan
......
CITI
Buy
856,161,690
126,100,845
6/21/23
—
(722,409)
Chinese
Yuan
......
CITI
Sell
856,161,690
125,747,098
6/21/23
368,661
—
Templeton
Income
Trust
Schedule
of
Investments
(unaudited)
Templeton
Global
Bond
Fund
(continued)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
6
See
Abbreviations
on
page
29
.
Forward
Exchange
Contracts
(continued)
Currency
Counter-
party
a
Type
Quantity
Contract
Amount*
Settlement
Date
Unrealized
Appreciation
Unrealized
Depreciation
a
a
a
a
a
a
a
a
OTC
Forward
Exchange
Contracts
(continued)
Indian
Rupee
......
CITI
Buy
2,857,906,500
34,649,691
6/21/23
$
—
$
(55)
Indian
Rupee
......
JPHQ
Buy
4,628,008,500
56,117,479
6/21/23
—
(6,893)
Japanese
Yen
......
BOFA
Buy
15,477,619,440
116,993,231
6/21/23
956,089
—
Japanese
Yen
......
JPHQ
Buy
8,080,979,530
60,926,449
6/21/23
655,763
—
Japanese
Yen
......
MSCO
Buy
15,600,000,000
118,104,424
6/21/23
777,513
—
South
Korean
Won
..
HSBK
Buy
247,500,000,000
187,343,880
6/21/23
2,995,500
—
Chilean
Peso
......
GSCO
Buy
49,529,280,440
59,850,499
6/22/23
1,823,113
—
Chilean
Peso
......
JPHQ
Buy
18,656,000,000
23,130,618
7/05/23
39,052
—
Indian
Rupee
......
HSBK
Buy
2,559,257,100
30,954,511
7/10/23
34,867
—
Indian
Rupee
......
JPHQ
Buy
2,823,969,900
33,724,278
7/11/23
467,835
—
South
Korean
Won
..
JPHQ
Buy
20,554,300,000
16,631,711
7/18/23
—
(798,425)
Chilean
Peso
......
GSCO
Buy
24,095,047,612
24,120,348
7/26/23
5,733,296
—
Mexican
Peso
......
MSCO
Buy
179,588,000
8,514,338
8/04/23
1,214,103
—
Mexican
Peso
......
MSCO
Sell
179,588,000
8,127,993
8/04/23
—
(1,600,448)
Japanese
Yen
......
BNDP
Buy
7,696,725,520
58,906,517
9/20/23
533,924
—
New
Zealand
Dollar
.
BOFA
Buy
56,380,000
34,506,815
9/20/23
721,121
—
New
Zealand
Dollar
.
CITI
Buy
66,290,000
40,471,371
9/20/23
948,634
—
New
Zealand
Dollar
.
JPHQ
Buy
181,180,000
110,641,191
9/20/23
2,565,575
—
South
Korean
Won
..
DBAB
Buy
66,506,000,000
50,675,099
9/20/23
763,900
—
Mexican
Peso
......
CITI
Buy
522,579,750
24,914,790
10/23/23
2,952,342
—
Mexican
Peso
......
CITI
Sell
522,579,750
22,751,029
10/23/23
—
(5,116,103)
Mexican
Peso
......
MSCO
Buy
540,623,000
23,797,496
9/03/24
3,577,051
—
Mexican
Peso
......
MSCO
Sell
540,623,000
22,984,206
9/03/24
—
(4,390,341)
Total
Forward
Exchange
Contracts
...................................................
$46,406,497
$(28,350,382)
Net
unrealized
appreciation
(depreciation)
............................................
$18,056,115
*
In
U.S.
dollars
unless
otherwise
indicated.
a
May
be
comprised
of
multiple
contracts
with
the
same
counterparty,
currency
and
settlement
date.
Templeton
Income
Trust
Schedule
of
Investments
(unaudited),
March
31,
2023
Templeton
Global
Total
Return
Fund
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
7
a
a
Industry
Shares
a
Value
a
Common
Stocks
0.0%
South
Africa
0.0%
a,b,c
K2016470219
South
Africa
Ltd.,
A
....
Broadline
Retail
434,200,485
$
—
a,b,c
K2016470219
South
Africa
Ltd.,
B
....
Broadline
Retail
50,014,925
—
—
Total
Common
Stocks
(Cost
$1,645,359)
.......................................
—
Principal
Amount
*
a
a
a
a
a
Corporate
Bonds
0.0%
South
Africa
0.0%
a,d,e
K2016470219
South
Africa
Ltd.
,
Senior
Secured
Note,
144A,
PIK,
3%,
1/06/23
......................
Broadline
Retail
37,627,701
—
Senior
Secured
Note,
144A,
PIK,
8%,
1/06/23
......................
Broadline
Retail
14,528,882
EUR
—
a,d,e
K2016470260
South
Africa
Ltd.
,
Senior
Secured
Note
,
144A,
PIK,
25
%
,
1/06/23
......................
Broadline
Retail
19,186,470
—
—
Total
Corporate
Bonds
(Cost
$46,940,536)
......................................
—
a
a
Industry
Principal
Amount
*
a
Value
Foreign
Government
and
Agency
Securities
73.0%
Australia
4.4%
e
Australia
Government
Bond
,
Senior
Bond,
Reg
S,
4.25%,
4/21/26
20,210,000
AUD
14,022,789
Senior
Note,
Reg
S,
0.25%,
11/21/25
1,200,000
AUD
748,499
Senior
Note,
Reg
S,
0.5%,
9/21/26
..
8,210,000
AUD
5,048,761
19,820,049
Brazil
3.7%
Brazil
Notas
do
Tesouro
Nacional
,
10%,
1/01/27
..................
81,500,000
BRL
15,138,019
10%,
1/01/31
..................
8,440,000
BRL
1,462,446
16,600,465
Colombia
8.3%
Colombia
Titulos
de
Tesoreria
,
B,
10%,
7/24/24
................
7,694,100,000
COP
1,637,197
B,
6.25%,
11/26/25
..............
9,412,000,000
COP
1,812,116
B,
7.5%,
8/26/26
...............
131,496,000,000
COP
25,439,756
B,
5.75%,
11/03/27
..............
6,893,000,000
COP
1,199,927
B,
6%,
4/28/28
.................
3,883,000,000
COP
668,962
B,
7.75%,
9/18/30
..............
8,382,000,000
COP
1,471,763
B,
7%,
3/26/31
.................
4,593,500,000
COP
759,436
B,
7%,
6/30/32
.................
23,937,000,000
COP
3,812,328
B,
6.25%,
7/09/36
..............
1,849,000,000
COP
251,750
37,053,235
Dominican
Republic
3.2%
e
Dominican
Republic
Government
Bond
,
Senior
Bond,
144A,
5.3%,
1/21/41
..
8,400,000
6,568,645
Senior
Bond,
144A,
6.4%,
6/05/49
..
1,460,000
1,223,445
Templeton
Income
Trust
Schedule
of
Investments
(unaudited)
Templeton
Global
Total
Return
Fund
(continued)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
8
a
a
Industry
Principal
Amount
*
a
Value
a
a
a
a
a
a
Foreign
Government
and
Agency
Securities
(continued)
Dominican
Republic
(continued)
e
Dominican
Republic
Government
Bond,
(continued)
Senior
Bond,
144A,
5.875%,
1/30/60
8,320,000
$
6,392,264
14,184,354
Ecuador
3.6%
e
Ecuador
Government
Bond
,
Senior
Bond,
144A,
2.5%,
7/31/35
..
33,616,000
11,347,359
Senior
Note,
144A,
5.5%,
7/31/30
..
10,467,000
4,917,821
16,265,180
Egypt
3.2%
e
Egypt
Government
Bond
,
Senior
Bond,
144A,
7.625%,
5/29/32
1,330,000
847,875
Senior
Bond,
144A,
7.3%,
9/30/33
..
7,530,000
4,642,923
Senior
Bond,
144A,
8.5%,
1/31/47
..
950,000
554,039
Senior
Bond,
144A,
7.903%,
2/21/48
1,080,000
601,569
Senior
Bond,
144A,
8.7%,
3/01/49
..
820,000
481,976
Senior
Bond,
144A,
8.875%,
5/29/50
3,120,000
1,849,258
Senior
Bond,
144A,
8.75%,
9/30/51
.
6,580,000
3,863,618
Senior
Bond,
144A,
7.5%,
2/16/61
..
2,370,000
1,288,370
14,129,628
Germany
2.8%
e
Bundesobligation,
Reg
S,
10/18/24
...
2,800,000
EUR
2,913,381
e
Bundesrepublik
Deutschland,
Reg
S,
6.25%,
1/04/24
................
2,745,000
EUR
3,052,470
e
Bundesschatzanweisungen,
Reg
S,
0.4%,
9/13/24
.................
6,076,000
EUR
6,372,273
12,338,124
Ghana
4.1%
d
Ghana
Government
Bond
,
PIK,
8.35%,
2/16/27
.............
24,409,001
GHS
1,853,978
PIK,
8.5%,
2/15/28
..............
24,409,001
GHS
1,895,775
PIK,
8.65%,
2/13/29
.............
24,154,416
GHS
1,835,619
PIK,
8.8%,
2/12/30
..............
24,154,416
GHS
1,784,670
PIK,
8.95%,
2/11/31
.............
21,866,612
GHS
1,584,824
PIK,
9.1%,
2/10/32
..............
21,866,612
GHS
1,578,662
PIK,
9.25%,
2/08/33
.............
21,866,612
GHS
1,569,161
PIK,
9.4%,
2/07/34
..............
18,302,424
GHS
1,301,471
PIK,
9.55%,
2/06/35
.............
18,302,424
GHS
1,291,676
PIK,
9.7%,
2/05/36
..............
18,302,424
GHS
1,280,113
PIK,
9.85%,
2/03/37
.............
18,302,424
GHS
1,278,468
PIK,
10%,
2/02/38
..............
18,302,424
GHS
1,278,477
18,532,894
Hungary
4.4%
Hungary
Government
Bond
,
1%,
11/26/25
..................
3,174,900,000
HUF
7,130,741
3%,
10/27/27
..................
273,100,000
HUF
593,390
4.75%,
11/24/32
................
5,633,000,000
HUF
12,210,403
19,934,534
Templeton
Income
Trust
Schedule
of
Investments
(unaudited)
Templeton
Global
Total
Return
Fund
(continued)
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
9
a
a
Industry
Principal
Amount
*
a
Value
a
a
a
a
a
a
Foreign
Government
and
Agency
Securities
(continued)
India
3.5%
India
Government
Bond,
Senior
Bond,
7.26%,
8/22/32
................
1,279,300,000
INR
$
15,565,997
Indonesia
8.7%
Indonesia
Government
Bond
,
FR44,
10%,
9/15/24
.............
15,790,000,000
IDR
1,110,071
FR46,
9.5%,
7/15/23
............
9,485,000,000
IDR
639,998
FR59,
7%,
5/15/27
..............
150,718,000,000
IDR
10,274,697
FR81,
6.5%,
6/15/25
............
14,790,000,000
IDR
989,912
FR86,
5.5%,
4/15/26
............
172,235,000,000
IDR
11,209,719
FR95,
6.375%,
8/15/28
..........
82,071,000,000
IDR
5,483,505
f
FR96,
7%,
2/15/33
..............
138,340,000,000
IDR
9,389,812
39,097,714
Malaysia
9.6%
Malaysia
Government
Bond
,
3.882%,
3/14/25
................
6,280,000
MYR
1,441,263
3.955%,
9/15/25
................
13,570,000
MYR
3,122,363
3.906%,
7/15/26
................
41,220,000
MYR
9,495,699
3.9%,
11/30/26
.................
9,950,000
MYR
2,287,358
3.892%,
3/15/27
................
270,000
MYR
61,882
3.502%,
5/31/27
................
2,680,000
MYR
606,378
3.899%,
11/16/27
...............
94,470,000
MYR
21,738,403
3.733%,
6/15/28
................
13,120,000
MYR
2,978,479
4.498%,
4/15/30
................
4,990,000
MYR
1,178,473
42,910,298
Mexico
2.7%
Mexican
Bonos
Desarr
Fixed
Rate
,
M,
7.5%,
5/26/33
...............
197,470,000
MXN
9,995,747
M
20,
Senior
Bond,
8.5%,
5/31/29
..
35,600,000
MXN
1,945,352
11,941,099
Mongolia
1.2%
e
Mongolia
Government
Bond
,
Senior
Bond,
144A,
4.45%,
7/07/31
.
5,570,000
4,158,895
Senior
Note,
144A,
5.125%,
4/07/26
.
200,000
177,500
Senior
Note,
144A,
3.5%,
7/07/27
..
1,380,000
1,104,000
5,440,395
Norway
4.4%
e
Norway
Government
Bond
,
Senior
Bond,
144A,
Reg
S,
2%,
5/24/23
......................
2,361,000
NOK
225,243
Senior
Bond,
144A,
Reg
S,
3%,
3/14/24
......................
205,560,000
NOK
19,577,016
19,802,259
Sri
Lanka
0.8%
e,g
Sri
Lanka
Government
Bond
,
Senior
Bond,
144A,
6.85%,
11/03/25
2,100,000
777,115
Senior
Bond,
144A,
6.2%,
5/11/27
..
5,300,000
1,909,098
Senior
Bond,
144A,
6.75%,
4/18/28
.
460,000
165,621
Senior
Bond,
144A,
7.85%,
3/14/29
.
659,000
237,216
Senior
Note,
144A,
5.75%,
4/18/23
..
200,000
72,015
Templeton
Income
Trust
Schedule
of
Investments
(unaudited)
Templeton
Global
Total
Return
Fund
(continued)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
10
a
a
Industry
Principal
Amount
*
a
Value
a
a
a
a
a
a
Foreign
Government
and
Agency
Securities
(continued)
Sri
Lanka
(continued)
e,g
Sri
Lanka
Government
Bond,
(continued)
Senior
Note,
144A,
6.35%,
6/28/24
..
620,000
$
224,718
3,385,783
Thailand
4.4%
Thailand
Government
Bond
,
0.75%,
9/17/24
................
291,660,000
THB
8,407,051
1%,
6/17/27
...................
402,200,000
THB
11,310,952
19,718,003
Total
Foreign
Government
and
Agency
Securities
(Cost
$370,219,529)
............
326,720,011
U.S.
Government
and
Agency
Securities
3.6%
United
States
3.6%
U.S.
Treasury
Notes,
4.5%,
11/30/24
..
15,765,000
15,829,661
Total
U.S.
Government
and
Agency
Securities
(Cost
$15,788,115)
.................
15,829,661
Shares
Escrows
and
Litigation
Trusts
0.0%
a,b
K2016470219
South
Africa
Ltd.,
Escrow
Account
......................
2,168,033
—
Total
Escrows
and
Litigation
Trusts
(Cost
$–)
...................................
—
Total
Long
Term
Investments
(Cost
$434,593,539)
...............................
342,549,672
Short
Term
Investments
21.3%
a
a
Industry
Principal
Amount
*
a
Value
a
a
a
a
a
a
Foreign
Government
and
Agency
Securities
17.2%
Brazil
4.4%
h
Brazil
Letras
do
Tesouro
Nacional
,
1/01/25
......................
121,930,000
BRL
19,691,046
Germany
1.7%
e,h
Germany
Treasury
Bills
,
Reg
S,
10/18/23
.....................
7,269,000
EUR
7,761,028
Japan
11.1%
h
Japan
Treasury
Bills
,
5/10/23
......................
1,454,000,000
JPY
10,955,338
6/19/23
......................
741,700,000
JPY
5,589,755
9/20/23
......................
2,655,700,000
JPY
20,023,389
12/20/23
.....................
296,000,000
JPY
2,232,284
2/20/24
......................
1,449,000,000
JPY
10,928,079
49,728,845
Total
Foreign
Government
and
Agency
Securities
(Cost
$75,118,413)
..............
77,180,919
Templeton
Income
Trust
Schedule
of
Investments
(unaudited)
Templeton
Global
Total
Return
Fund
(continued)
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
11
At
March
3
1
,
202
3
,
the
Fund
had
the
following
forward
exchange
contracts
outstanding. 
Short
Term
Investments
(continued)
a
a
Industry
Shares
a
Value
a
a
a
a
a
a
Money
Market
Funds
4.1%
United
States
4.1%
i,j
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
4.371%
.........
18,280,563
$
18,280,563
Total
Money
Market
Funds
(Cost
$18,280,563)
..................................
18,280,563
a
a
a
a
a
Total
Short
Term
Investments
(Cost
$93,398,976
)
................................
95,461,482
a
a
a
Total
Investments
(Cost
$527,992,515)
97.9%
...................................
$438,011,154
Other
Assets,
less
Liabilities
2.1%
.............................................
9,455,910
Net
Assets
100.0%
...........................................................
$447,467,064
a
a
a
*
The
principal
amount
is
stated
in
U.S.
dollars
unless
otherwise
indicated.
a
Fair
valued
using
significant
unobservable
inputs.
See
Note
5
regarding
fair
value
measurements.
b
Non-income
producing.
c
See
Note
3
regarding
restricted
securities.
d
Income
may
be
received
in
additional
securities
and/or
cash.
e
Security
was
purchased
pursuant
to
Rule
144A
or
Regulation
S
under
the
Securities
Act
of
1933.
144A
securities
may
be
sold
in
transactions
exempt
from
registration
only
to
qualified
institutional
buyers
or
in
a
public
offering
registered
under
the
Securities
Act
of
1933.
Regulation
S
securities
cannot
be
sold
in
the
United
States
without
either
an
effective
registration
statement
filed
pursuant
to
the
Securities
Act
of
1933,
or
pursuant
to
an
exemption
from
registration.
At
March
31,
2023,
the
aggregate
value
of
these
securities
was
$113,126,800,
representing
25.3%
of
net
assets.
f
A
portion
or
all
of
the
security
purchased
on
a
delayed
delivery
basis.
g
Defaulted
security
or
security
for
which
income
has
been
deemed
uncollectible.
h
The
security
was
issued
on
a
discount
basis
with
no
stated
coupon
rate.
i
See
Note
4
regarding
investments
in
affiliated
management
investment
companies.
j
The
rate
shown
is
the
annualized
seven-day
effective
yield
at
period
end.
Forward
Exchange
Contracts
Currency
Counter-
party
a
Type
Quantity
Contract
Amount
*
Settlement
Date
Unrealized
Appreciation
Unrealized
Depreciation
a
a
a
a
a
a
a
a
OTC
Forward
Exchange
Contracts
Indian
Rupee
......
HSBK
Buy
797,617,100
9,577,765
4/10/23
$
126,201
$
—
Indian
Rupee
......
HSBK
Sell
797,617,100
9,698,062
4/10/23
—
(5,904)
Chilean
Peso
......
GSCO
Buy
4,371,850,000
5,227,860
4/18/23
265,964
—
Chilean
Peso
......
JPHQ
Buy
1,980,493,553
2,415,825
4/20/23
72,538
—
British
Pound
......
DBAB
Sell
3,250,000
3,740,567
EUR
4/25/23
50,304
—
Euro
.............
BZWS
Buy
4,048,000
4,395,166
4/25/23
8,759
(8,652)
Euro
.............
BZWS
Sell
4,048,000
4,496,093
4/25/23
100,820
—
Euro
.............
DBAB
Buy
530,000
575,136
4/25/23
976
(644)
Euro
.............
DBAB
Sell
530,000
528,396
4/25/23
—
(47,072)
Euro
.............
DBAB
Sell
3,677,948
3,250,000
GBP
4/25/23
17,688
—
South
Korean
Won
..
CITI
Buy
3,769,400,000
3,055,114
4/25/23
—
(166,306)
Norwegian
Krone
...
MSCO
Buy
10,876,000
1,102,506
4/27/23
—
(62,143)
Australian
Dollar
....
MSCO
Buy
12,180,000
8,677,945
4/28/23
—
(528,161)
Canadian
Dollar
....
HSBK
Buy
42,887,000
32,139,177
5/03/23
—
(393,310)
Canadian
Dollar
....
HSBK
Sell
652,161
449,322
EUR
5/03/23
5,338
—
Euro
.............
HSBK
Sell
479,297
652,161
CAD
5/03/23
—
(37,899)
Chilean
Peso
......
JPHQ
Buy
1,247,506,447
1,548,351
5/08/23
16,531
—
Chilean
Peso
......
GSCO
Buy
4,635,164,441
5,710,089
5/09/23
103,571
—
Indian
Rupee
......
HSBK
Buy
257,214,374
3,096,133
5/15/23
27,595
—
Australian
Dollar
....
DBAB
Buy
10,994,000
7,604,220
5/22/23
—
(241,175)
Australian
Dollar
....
JPHQ
Buy
10,306,000
7,134,844
5/22/23
—
(232,575)
Japanese
Yen
......
BOFA
Buy
2,511,042,560
18,897,780
6/15/23
220,818
—
Templeton
Income
Trust
Schedule
of
Investments
(unaudited)
Templeton
Global
Total
Return
Fund
(continued)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
12
At
March
3
1,
2023
,
the
Fund
had
the
following
interest
rate
swap
contracts
outstanding. 
Forward
Exchange
Contracts
(continued)
Currency
Counter-
party
a
Type
Quantity
Contract
Amount*
Settlement
Date
Unrealized
Appreciation
Unrealized
Depreciation
a
a
a
a
a
a
a
a
OTC
Forward
Exchange
Contracts
(continued)
Japanese
Yen
......
DBAB
Buy
2,831,454,060
21,109,790
6/15/23
$
448,360
$
—
South
Korean
Won
..
CITI
Buy
22,815,900,000
17,311,002
6/15/23
229,452
—
Chinese
Yuan
......
CITI
Buy
6,291,510
926,653
6/21/23
—
(5,309)
Chinese
Yuan
......
CITI
Sell
6,291,510
924,054
6/21/23
2,709
—
Indian
Rupee
......
CITI
Buy
1,300,727,980
15,770,223
6/21/23
—
(25)
Japanese
Yen
......
JPHQ
Buy
741,333,530
5,589,275
6/21/23
60,158
—
Chilean
Peso
......
GSCO
Buy
2,076,811,788
2,509,591
6/22/23
76,445
—
Indian
Rupee
......
HSBK
Buy
797,617,100
9,647,271
7/10/23
10,867
—
Chilean
Peso
......
GSCO
Buy
4,503,052,836
4,509,362
7/26/23
1,069,898
—
Mexican
Peso
......
MSCO
Buy
22,503,000
1,064,475
8/04/23
154,533
—
Mexican
Peso
......
MSCO
Sell
22,503,000
1,018,466
8/04/23
—
(200,542)
Australian
Dollar
....
MSCO
Buy
12,410,000
8,385,437
9/11/23
—
(39,636)
Japanese
Yen
......
BNDP
Buy
706,082,800
5,403,971
9/20/23
48,981
—
South
Korean
Won
..
DBAB
Buy
60,875,000,000
46,384,486
9/20/23
699,221
—
Mexican
Peso
......
MSCO
Buy
67,743,000
2,981,957
9/03/24
448,223
—
Mexican
Peso
......
MSCO
Sell
67,743,000
2,880,046
9/03/24
—
(550,134)
Total
Forward
Exchange
Contracts
...................................................
$4,265,950
$(2,519,487)
Net
unrealized
appreciation
(depreciation)
............................................
$1,746,463
*
In
U.S.
dollars
unless
otherwise
indicated.
a
May
be
comprised
of
multiple
contracts
with
the
same
counterparty,
currency
and
settlement
date.
Interest
Rate
Swap
Contracts
Description
Payment
Frequency
Counter-
party
Maturity
Date
Notional
Amount
*
Value
Upfront
Payments
(Receipts)
Unrealized
Appreciation
(Depreciation)
aa
aa
aa
aa
Centrally
Cleared
Swap
Contracts
Receive
Floating
1-day
SOFR
............
Annual
Pay
Fixed
1.811%
...
Annual
3/15/32
6,700,000
$
726,755
$
—
$
726,755
Receive
Floating
1-day
SOFR
............
Annual
Pay
Fixed
2.176%
...
Annual
3/28/32
3,330,000
265,294
—
265,294
Receive
Floating
1-day
SOFR
............
Annual
Pay
Fixed
2.257%
...
Annual
3/30/32
3,330,000
257,780
—
257,780
Receive
Floating
1-day
SOFR
............
Annual
Pay
Fixed
2.253%
...
Annual
3/31/32
3,320,000
251,968
—
251,968
Receive
Floating
1-day
SOFR
............
Annual
Pay
Fixed
2.418%
...
Annual
4/11/32
4,260,000
274,296
—
274,296
Receive
Floating
1-day
SOFR
............
Annual
Pay
Fixed
2.463%
...
Annual
4/18/32
1,330,000
81,017
—
81,017
Receive
Floating
1-day
SOFR
............
Annual
Pay
Fixed
2.541%
...
Annual
4/19/32
710,000
38,438
—
38,438
Templeton
Income
Trust
Schedule
of
Investments
(unaudited)
Templeton
Global
Total
Return
Fund
(continued)
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
13
See
Abbreviations
on
page
29.
Interest
Rate
Swap
Contracts
(continued)
Description
Payment
Frequency
Counter-
party
Maturity
Date
Notional
Amount*
Value
Upfront
Payments
(Receipts)
Unrealized
Appreciation
(Depreciation)
aa
aa
aa
aa
Centrally
Cleared
Swap
Contracts
(continued)
Receive
Floating
1-day
SOFR
............
Annual
Pay
Fixed
2.549%
...
Annual
4/19/32
1,750,000
$
93,516
$
—
$
93,516
Receive
Floating
1-day
SOFR
............
Annual
Pay
Fixed
2.67%
....
Annual
4/21/32
1,720,000
73,953
—
73,953
Receive
Floating
1-day
SOFR
............
Annual
Pay
Fixed
2.645%
...
Annual
5/16/32
425,000
20,020
—
20,020
Receive
Floating
1-day
SOFR
............
Annual
Pay
Fixed
2.741%
...
Annual
5/19/32
1,400,000
54,294
—
54,294
Receive
Floating
1-day
SOFR
............
Annual
Pay
Fixed
2.662%
...
Annual
6/02/32
1,824,000
90,911
—
90,911
Receive
Floating
1-day
SOFR
............
Annual
Pay
Fixed
2.989%
...
Annual
6/30/32
1,421,000
33,364
—
33,364
Receive
Floating
1-day
SOFR
............
Annual
Pay
Fixed
2.612%
...
Annual
7/07/32
1,421,000
75,113
—
75,113
Total
Interest
Rate
Swap
Contracts
...............................
$2,336,719
$
—
$2,336,719
*
In
U.S.
dollars
unless
otherwise
indicated.
Templeton
Income
Trust
Schedule
of
Investments
(unaudited),
March
31,
2023
Templeton
International
Bond
Fund
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
14
a
a
Industry
Principal
Amount
*
a
Value
a
a
a
a
a
a
Foreign
Government
and
Agency
Securities
54.9%
Australia
4.5%
a
Australia
Government
Bond,
Reg
S,
5.5%,
4/21/23
.................
2,320,000
AUD
$
1,552,324
Brazil
6.0%
Brazil
Notas
do
Tesouro
Nacional
,
10%,
1/01/27
..................
8,200,000
BRL
1,523,089
10%,
1/01/29
..................
2,040,000
BRL
364,057
10%,
1/01/31
..................
940,000
BRL
162,879
2,050,025
Colombia
5.1%
Colombia
Titulos
de
Tesoreria
,
B,
6.25%,
11/26/25
..............
100,000,000
COP
19,253
B,
7.5%,
8/26/26
...............
7,699,000,000
COP
1,489,480
B,
5.75%,
11/03/27
..............
68,000,000
COP
11,837
B,
6%,
4/28/28
.................
139,000,000
COP
23,947
B,
7.75%,
9/18/30
..............
399,000,000
COP
70,059
B,
7%,
3/26/31
.................
142,000,000
COP
23,477
B,
7%,
6/30/32
.................
670,000,000
COP
106,708
B,
6.25%,
7/09/36
..............
92,000,000
COP
12,526
1,757,287
Germany
2.7%
a
Bundesobligation,
Reg
S,
10/18/24
...
213,000
EUR
221,625
a
Bundesrepublik
Deutschland,
Reg
S,
6.25%,
1/04/24
................
209,000
EUR
232,410
a
Bundesschatzanweisungen,
Reg
S,
0.4%,
9/13/24
.................
463,000
EUR
485,577
939,612
Ghana
2.3%
b
Ghana
Government
Bond
,
PIK,
8.35%,
2/16/27
.............
990,432
GHS
75,228
PIK,
8.5%,
2/15/28
..............
990,432
GHS
76,924
PIK,
8.65%,
2/13/29
.............
986,967
GHS
75,005
PIK,
8.8%,
2/12/30
..............
986,967
GHS
72,923
PIK,
8.95%,
2/11/31
.............
882,696
GHS
63,975
PIK,
9.1%,
2/10/32
..............
882,696
GHS
63,726
PIK,
9.25%,
2/08/33
.............
882,696
GHS
63,343
PIK,
9.4%,
2/07/34
..............
834,168
GHS
59,317
PIK,
9.55%,
2/06/35
.............
834,168
GHS
58,871
PIK,
9.7%,
2/05/36
..............
834,168
GHS
58,344
PIK,
9.85%,
2/03/37
.............
834,168
GHS
58,268
PIK,
10%,
2/02/38
..............
834,168
GHS
58,269
784,193
India
4.3%
India
Government
Bond
,
Senior
Bond,
7.26%,
8/22/32
......
18,000,000
INR
219,017
Senior
Note,
7.1%,
4/18/29
.......
103,200,000
INR
1,247,301
1,466,318
Indonesia
8.6%
Indonesia
Government
Bond
,
FR81,
6.5%,
6/15/25
............
10,420,000,000
IDR
697,423
FR86,
5.5%,
4/15/26
............
19,000,000,000
IDR
1,236,594
Templeton
Income
Trust
Schedule
of
Investments
(unaudited)
Templeton
International
Bond
Fund
(continued)
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
15
a
a
Industry
Principal
Amount
*
a
Value
a
a
a
a
a
a
Foreign
Government
and
Agency
Securities
(continued)
Indonesia
(continued)
Indonesia
Government
Bond,
(continued)
c
FR96,
7%,
2/15/33
..............
15,280,000,000
IDR
$
1,037,128
2,971,145
Malaysia
7.5%
Malaysia
Government
Bond
,
3.906%,
7/15/26
................
2,510,000
MYR
578,219
3.9%,
11/30/26
.................
1,480,000
MYR
340,230
3.892%,
3/15/27
................
130,000
MYR
29,795
3.502%,
5/31/27
................
200,000
MYR
45,252
3.899%,
11/16/27
...............
4,520,000
MYR
1,040,093
3.733%,
6/15/28
................
2,410,000
MYR
547,114
2,580,703
Mexico
2.4%
Mexican
Bonos
Desarr
Fixed
Rate
,
M,
7.5%,
5/26/33
...............
13,870,000
MXN
702,086
M
20,
Senior
Bond,
8.5%,
5/31/29
..
2,500,000
MXN
136,612
838,698
Singapore
0.9%
Singapore
Government
Bond,
2.375%,
6/01/25
......................
437,000
SGD
323,409
South
Korea
7.6%
Korea
Treasury
Bonds,
1.875%,
6/10/26
3,553,220,000
KRW
2,603,718
Thailand
3.0%
Thailand
Government
Bond
,
0.75%,
9/17/24
................
19,320,000
THB
556,896
1%,
6/17/27
...................
14,770,000
THB
415,372
Senior
Note,
0.66%,
11/22/23
......
1,900,000
THB
55,211
1,027,479
Total
Foreign
Government
and
Agency
Securities
(Cost
$20,131,188)
..............
18,894,911
Short
Term
Investments
44.9%
a
a
Industry
Principal
Amount
*
a
Value
a
a
a
a
a
a
Foreign
Government
and
Agency
Securities
12.4%
Germany
1.8%
a,d
Germany
Treasury
Bills
,
Reg
S,
10/18/23
.....................
575,000
EUR
613,921
Japan
10.6%
d
Japan
Treasury
Bills
,
5/10/23
......................
76,400,000
JPY
575,645
6/19/23
......................
49,800,000
JPY
375,313
9/20/23
......................
177,800,000
JPY
1,340,573
12/20/23
.....................
20,000,000
JPY
150,830
Templeton
Income
Trust
Schedule
of
Investments
(unaudited)
Templeton
International
Bond
Fund
(continued)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
16
At
March
31,
2023,
the
Fund
had
the
following
forward
exchange
contracts
outstanding.
Short
Term
Investments
(continued)
a
a
Industry
Principal
Amount
*
a
Value
a
a
a
a
a
a
Foreign
Government
and
Agency
Securities
(continued)
Japan
(continued)
d
Japan
Treasury
Bills,
(continued)
2/20/24
......................
161,700,000
JPY
$
1,219,510
3,661,871
Total
Foreign
Government
and
Agency
Securities
(Cost
$4,090,927)
...............
4,275,792
Shares
Money
Market
Funds
32.5%
United
States
32.5%
e,f
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
4.371%
.........
11,182,892
11,182,892
Total
Money
Market
Funds
(Cost
$11,182,892)
..................................
11,182,892
a
a
a
a
a
Total
Short
Term
Investments
(Cost
$15,273,819
)
................................
15,458,684
a
a
a
Total
Investments
(Cost
$35,405,007)
99.8%
....................................
$34,353,595
Other
Assets,
less
Liabilities
0.2%
.............................................
55,087
Net
Assets
100.0%
...........................................................
$34,408,682
a
a
a
*
The
principal
amount
is
stated
in
U.S.
dollars
unless
otherwise
indicated.
a
Security
was
purchased
pursuant
to
Rule
144A
or
Regulation
S
under
the
Securities
Act
of
1933.
144A
securities
may
be
sold
in
transactions
exempt
from
registration
only
to
qualified
institutional
buyers
or
in
a
public
offering
registered
under
the
Securities
Act
of
1933.
Regulation
S
securities
cannot
be
sold
in
the
United
States
without
either
an
effective
registration
statement
filed
pursuant
to
the
Securities
Act
of
1933,
or
pursuant
to
an
exemption
from
registration.
At
March
31,
2023,
the
aggregate
value
of
these
securities
was
$3,105,857,
representing
9.0%
of
net
assets.
b
Income
may
be
received
in
additional
securities
and/or
cash.
c
A
portion
or
all
of
the
security
purchased
on
a
delayed
delivery
basis.
d
The
security
was
issued
on
a
discount
basis
with
no
stated
coupon
rate.
e
See
Note
4
regarding
investments
in
affiliated
management
investment
companies.
f
The
rate
shown
is
the
annualized
seven-day
effective
yield
at
period
end.
Forward
Exchange
Contracts
Currency
Counter-
party
a
Type
Quantity
Contract
Amount
*
Settlement
Date
Unrealized
Appreciation
Unrealized
Depreciation
a
a
a
a
a
a
a
a
OTC
Forward
Exchange
Contracts
Chilean
Peso
......
GSCO
Buy
182,060,000
217,707
4/18/23
$
11,076
$
—
Chilean
Peso
......
GSCO
Sell
48,350,000
60,459
4/18/23
—
(300)
Chilean
Peso
......
JPHQ
Buy
182,999,365
223,224
4/20/23
6,703
—
Euro
.............
BZWS
Buy
203,000
212,874
4/25/23
7,541
—
Euro
.............
BZWS
Sell
203,000
225,471
4/25/23
5,056
—
Euro
.............
DBAB
Buy
567,000
602,332
4/25/23
13,311
—
Euro
.............
DBAB
Sell
567,000
565,284
4/25/23
—
(50,358)
Australian
Dollar
....
CITI
Buy
245,000
169,022
5/08/23
—
(5,027)
Australian
Dollar
....
DBAB
Buy
245,000
169,739
5/09/23
—
(5,737)
Chilean
Peso
......
GSCO
Buy
310,738,856
382,801
5/09/23
6,943
—
Australian
Dollar
....
DBAB
Buy
521,000
360,360
5/22/23
—
(11,429)
Australian
Dollar
....
JPHQ
Buy
489,000
338,535
5/22/23
—
(11,035)
Japanese
Yen
......
BOFA
Buy
169,013,600
1,271,974
6/15/23
14,863
—
Japanese
Yen
......
DBAB
Buy
219,993,550
1,640,153
6/15/23
34,836
—
Templeton
Income
Trust
Schedule
of
Investments
(unaudited)
Templeton
International
Bond
Fund
(continued)
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
17
See
Abbreviations
on
page
29
.
Forward
Exchange
Contracts
(continued)
Currency
Counter-
party
a
Type
Quantity
Contract
Amount*
Settlement
Date
Unrealized
Appreciation
Unrealized
Depreciation
a
a
a
a
a
a
a
a
OTC
Forward
Exchange
Contracts
(continued)
Japanese
Yen
......
GSCO
Buy
146,000,000
1,098,075
6/15/23
$
13,541
$
—
South
Korean
Won
..
HSBK
Buy
894,000,000
685,478
6/20/23
2,012
—
Chinese
Yuan
......
CITI
Buy
1,423,140
209,609
6/21/23
—
(1,201)
Chinese
Yuan
......
CITI
Sell
1,423,140
209,021
6/21/23
613
—
Indian
Rupee
......
CITI
Buy
52,990,400
642,464
6/21/23
—
(1)
Japanese
Yen
......
BOFA
Buy
95,569,950
722,400
6/21/23
5,904
—
Japanese
Yen
......
JPHQ
Buy
49,897,780
376,204
6/21/23
4,049
—
Chilean
Peso
......
GSCO
Buy
64,907,747
78,434
6/22/23
2,389
—
South
Korean
Won
..
HSBK
Buy
2,359,700,000
1,817,806
6/26/23
—
(2,560)
Indian
Rupee
......
JPHQ
Buy
40,526,500
483,974
7/11/23
6,714
—
Chilean
Peso
......
GSCO
Buy
434,247,469
434,858
7/26/23
103,172
—
Canadian
Dollar
....
BOFA
Buy
1,776,000
1,288,899
9/11/23
28,625
—
Canadian
Dollar
....
BOFA
Sell
120,000
88,358
9/11/23
—
(664)
Norwegian
Krone
...
CITI
Buy
14,183,000
1,352,475
9/11/23
11,985
—
Norwegian
Krone
...
CITI
Sell
1,050,000
102,068
9/11/23
1,054
—
Norwegian
Krone
...
DBAB
Buy
1,192,000
113,985
9/11/23
690
—
Japanese
Yen
......
BNDP
Buy
47,525,120
363,731
9/20/23
3,297
—
New
Zealand
Dollar
.
CITI
Buy
1,670,000
1,019,568
9/20/23
23,898
—
Singapore
Dollar
....
CITI
Buy
2,100,000
1,563,663
9/20/23
23,862
—
Singapore
Dollar
....
CITI
Sell
250,000
189,323
9/20/23
332
—
Total
Forward
Exchange
Contracts
...................................................
$332,466
$(88,312)
Net
unrealized
appreciation
(depreciation)
............................................
$244,154
*
In
U.S.
dollars
unless
otherwise
indicated.
a
May
be
comprised
of
multiple
contracts
with
the
same
counterparty,
currency
and
settlement
date.
Templeton
Income
Trust
Schedule
of
Investments
(unaudited),
March
31,
2023
Templeton
Sustainable
Emerging
Markets
Bond
Fund
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
18
a
a
Industry
Shares
a
Value
a
Common
Stocks
0.0%
South
Africa
0.0%
a,b,c
K2016470219
South
Africa
Ltd.,
A
....
Broadline
Retail
2,171,539
$
—
a,b,c
K2016470219
South
Africa
Ltd.,
B
....
Broadline
Retail
619,903
—
—
Total
Common
Stocks
(Cost
$14,998)
..........................................
—
Principal
Amount
*
a
a
a
a
a
Corporate
Bonds
3.0%
Costa
Rica
3.0%
a,c
Reventazon
Finance
Trust
,
Senior
Secured
Bond
,
144A,
8
%
,
11/15/33
.
Financial
Services
477,900
446,301
South
Africa
0.0%
a,d,e
K2016470219
South
Africa
Ltd.
,
Senior
Secured
Note,
144A,
PIK,
3%,
1/06/23
......................
Broadline
Retail
188,190
—
Senior
Secured
Note,
144A,
PIK,
8%,
1/06/23
......................
Broadline
Retail
55,416
EUR
—
a,d,e
K2016470260
South
Africa
Ltd.
,
Senior
Secured
Note
,
144A,
PIK,
25
%
,
1/06/23
......................
Broadline
Retail
237,804
—
—
Total
Corporate
Bonds
(Cost
$778,935)
........................................
446,301
a
a
Industry
Principal
Amount
*
a
Value
Foreign
Government
and
Agency
Securities
79.0%
Brazil
2.8%
Brazil
Notas
do
Tesouro
Nacional
,
10%,
1/01/25
..................
590,000
BRL
113,095
10%,
1/01/27
..................
630,000
BRL
117,018
10%,
1/01/29
..................
280,000
BRL
49,968
10%,
1/01/31
..................
790,000
BRL
136,888
416,969
Chile
5.8%
Chile
Bonos
Tesoreria
Pesos
,
e
144A,
Reg
S,
4.7%,
9/01/30
.......
630,000,000
CLP
764,110
2.5%,
3/01/25
.................
80,000,000
CLP
93,765
857,875
Colombia
9.0%
Colombia
Government
Bond,
Senior
Bond,
9.85%,
6/28/27
............
13,000,000
COP
2,613
Colombia
Titulos
de
Tesoreria
,
B,
10%,
7/24/24
................
2,780,000,000
COP
591,545
B,
6.25%,
11/26/25
..............
50,000,000
COP
9,627
B,
7.5%,
8/26/26
...............
1,682,800,000
COP
325,561
B,
6%,
4/28/28
.................
428,400,000
COP
73,805
B,
7.75%,
9/18/30
..............
1,267,800,000
COP
222,608
B,
7%,
3/26/31
.................
632,200,000
COP
104,521
B,
7%,
6/30/32
.................
107,000,000
COP
17,041
1,347,321
Templeton
Income
Trust
Schedule
of
Investments
(unaudited)
Templeton
Sustainable
Emerging
Markets
Bond
Fund
(continued)
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
19
a
a
Industry
Principal
Amount
*
a
Value
a
a
a
a
a
a
Foreign
Government
and
Agency
Securities
(continued)
Czech
Republic
3.3%
e
Czech
Republic
Government
Bond,
Reg
S,
1%,
6/26/26
.................
12,000,000
CZK
$
490,559
Dominican
Republic
2.3%
e
Dominican
Republic
Government
Bond,
Senior
Bond,
144A,
5.875%,
1/30/60
441,000
338,821
Ecuador
4.3%
e
Ecuador
Government
Bond
,
Senior
Bond,
144A,
2.5%,
7/31/35
..
1,199,500
404,901
Senior
Bond,
144A,
1.5%,
7/31/40
..
534,000
162,488
Senior
Note,
144A,
5.5%,
7/31/30
..
146,000
68,597
635,986
Egypt
2.1%
e
Egypt
Government
Bond,
Senior
Note,
144A,
5.25%,
10/06/25
...........
390,000
308,919
Ghana
2.7%
d
Ghana
Government
Bond
,
PIK,
8.35%,
2/16/27
.............
779,905
GHS
59,237
PIK,
8.5%,
2/15/28
..............
779,905
GHS
60,573
PIK,
8.65%,
2/13/29
.............
731,409
GHS
55,584
PIK,
8.8%,
2/12/30
..............
731,409
GHS
54,041
PIK,
8.95%,
2/11/31
.............
725,579
GHS
52,588
PIK,
9.1%,
2/10/32
..............
725,579
GHS
52,383
PIK,
9.25%,
2/08/33
.............
725,579
GHS
52,068
PIK,
9.4%,
2/07/34
..............
46,638
GHS
3,316
PIK,
9.55%,
2/06/35
.............
46,638
GHS
3,291
PIK,
9.7%,
2/05/36
..............
46,638
GHS
3,262
PIK,
9.85%,
2/03/37
.............
46,638
GHS
3,258
PIK,
10%,
2/02/38
..............
46,638
GHS
3,258
402,859
Indonesia
8.3%
Indonesia
Government
Bond
,
FR70,
8.375%,
3/15/24
..........
144,000,000
IDR
9,824
FR81,
6.5%,
6/15/25
............
650,000,000
IDR
43,505
FR86,
5.5%,
4/15/26
............
7,410,000,000
IDR
482,272
FR95,
6.375%,
8/15/28
..........
4,200,000,000
IDR
280,620
f
FR96,
7%,
2/15/33
..............
6,160,000,000
IDR
418,109
1,234,330
Malaysia
4.5%
Malaysia
Government
Bond
,
3.882%,
3/14/25
................
530,000
MYR
121,635
3.899%,
11/16/27
...............
1,940,000
MYR
446,412
4.498%,
4/15/30
................
410,000
MYR
96,828
664,875
Mexico
4.7%
Mexican
Bonos
Desarr
Fixed
Rate,
M,
7.5%,
5/26/33
.................
13,930,000
MXN
705,124
Oman
1.8%
e
Oman
Government
Bond,
Senior
Bond,
144A,
7%,
1/25/51
..............
275,000
268,429
Templeton
Income
Trust
Schedule
of
Investments
(unaudited)
Templeton
Sustainable
Emerging
Markets
Bond
Fund
(continued)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
20
a
a
Industry
Principal
Amount
*
a
Value
a
a
a
a
a
a
Foreign
Government
and
Agency
Securities
(continued)
Seychelles
1.4%
e
Seychelles
International
Bond,
Senior
Bond,
Reg
S,
8%,
1/01/26
........
210,000
$
211,470
Singapore
4.3%
Singapore
Government
Bond,
3%,
9/01/24
......................
857,000
SGD
642,134
South
Korea
4.3%
Korea
Monetary
Stabilization
Bond,
Senior
Note,
0.905%,
4/02/23
......
375,000,000
KRW
287,024
Korea
Treasury
Bonds
,
0.875%,
12/10/23
...............
370,000,000
KRW
278,628
1.875%,
6/10/26
................
96,500,000
KRW
70,713
636,365
Supranational
8.6%
g
European
Bank
for
Reconstruction
&
Development
,
Senior
Note,
0.84%,
6/26/24
......
250,000,000
HUF
617,885
Senior
Note,
4.95%,
1/22/26
......
57,400,000
INR
663,019
1,280,904
Thailand
4.3%
Thailand
Government
Bond
,
0.51%,
5/24/23
................
100,000
THB
2,920
0.75%,
9/17/24
................
380,000
THB
10,953
1%,
6/17/27
...................
250,000
THB
7,031
Senior
Note,
0.66%,
11/22/23
......
20,140,000
THB
585,232
Senior
Note,
2.65%,
6/17/28
......
1,230,000
THB
37,122
643,258
Uruguay
4.5%
Uruguay
Government
Bond
,
Senior
Bond,
8.25%,
5/21/31
......
24,200,000
UYU
552,620
h
Index
Linked,
Senior
Bond,
3.875%,
7/02/40
......................
4,272,051
UYU
117,079
669,699
Total
Foreign
Government
and
Agency
Securities
(Cost
$13,038,251)
..............
11,755,897
Shares
Escrows
and
Litigation
Trusts
0.0%
a,b
K2016470219
South
Africa
Ltd.,
Escrow
Account
......................
12,498
—
Total
Escrows
and
Litigation
Trusts
(Cost
$–)
...................................
—
Total
Long
Term
Investments
(Cost
$13,832,184)
................................
12,202,198
Templeton
Income
Trust
Schedule
of
Investments
(unaudited)
Templeton
Sustainable
Emerging
Markets
Bond
Fund
(continued)
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
21
Short
Term
Investments
15.4%
a
a
Industry
Principal
Amount
*
a
Value
a
a
a
a
a
a
Foreign
Government
and
Agency
Securities
2.7%
Brazil
2.7%
i
Brazil
Letras
do
Tesouro
Nacional
,
1/01/24
......................
150,000
BRL
$
26,976
7/01/24
......................
1,280,000
BRL
218,503
1/01/25
......................
960,000
BRL
155,035
400,514
Total
Foreign
Government
and
Agency
Securities
(Cost
$403,677)
................
400,514
Shares
Money
Market
Funds
12.7%
United
States
12.7%
j,k
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
4.371%
.........
1,890,705
1,890,705
Total
Money
Market
Funds
(Cost
$1,890,705)
...................................
1,890,705
a
a
a
a
a
Total
Short
Term
Investments
(Cost
$2,294,382
)
.................................
2,291,219
a
a
a
Total
Investments
(Cost
$16,126,566)
97.4%
....................................
$14,493,417
Other
Assets,
less
Liabilities
2.6%
.............................................
391,683
Net
Assets
100.0%
...........................................................
$14,885,100
a
a
a
*
The
principal
amount
is
stated
in
U.S.
dollars
unless
otherwise
indicated.
a
Fair
valued
using
significant
unobservable
inputs.
See
Note
5
regarding
fair
value
measurements.
b
Non-income
producing.
c
See
Note
3
regarding
restricted
securities.
d
Income
may
be
received
in
additional
securities
and/or
cash.
e
Security
was
purchased
pursuant
to
Rule
144A
or
Regulation
S
under
the
Securities
Act
of
1933.
144A
securities
may
be
sold
in
transactions
exempt
from
registration
only
to
qualified
institutional
buyers
or
in
a
public
offering
registered
under
the
Securities
Act
of
1933.
Regulation
S
securities
cannot
be
sold
in
the
United
States
without
either
an
effective
registration
statement
filed
pursuant
to
the
Securities
Act
of
1933,
or
pursuant
to
an
exemption
from
registration.
At
March
31,
2023,
the
aggregate
value
of
these
securities
was
$3,018,294,
representing
20.3%
of
net
assets.
f
A
portion
or
all
of
the
security
purchased
on
a
delayed
delivery
basis.
g
A
supranational
organization
is
an
entity
formed
by
two
or
more
central
governments
through
international
treaties.
h
Principal
amount
of
security
is
adjusted
for
inflation.
See
Note
.
i
The
security
was
issued
on
a
discount
basis
with
no
stated
coupon
rate.
j
See
Note
4
regarding
investments
in
affiliated
management
investment
companies.
k
The
rate
shown
is
the
annualized
seven-day
effective
yield
at
period
end.
Templeton
Income
Trust
Schedule
of
Investments
(unaudited)
Templeton
Sustainable
Emerging
Markets
Bond
Fund
(continued)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
22
At
March
31,
2023,
the
Fund
had
the
following
forward
exchange
contracts
outstanding.
At
March
31,
2023,
the
Fund
had
the
following
interest
rate
swap
contracts
outstanding. 
*
In
U.S.
dollars
unless
otherwise
indicated.
See
Abbreviations
on
page
29
.
Forward
Exchange
Contracts
Currency
Counter-
party
a
Type
Quantity
Contract
Amount
*
Settlement
Date
Unrealized
Appreciation
Unrealized
Depreciation
a
a
a
a
a
a
a
a
OTC
Forward
Exchange
Contracts
Indian
Rupee
......
HSBK
Buy
32,799,900
393,860
4/10/23
$
5,190
$
—
Indian
Rupee
......
HSBK
Sell
32,799,900
398,807
4/10/23
—
(243)
Columbian
Peso
....
MSCO
Buy
3,036,000,000
635,678
4/24/23
13,907
—
Euro
.............
JPHQ
Buy
435,000
463,137
5/03/23
9,386
—
Euro
.............
JPHQ
Sell
435,000
436,044
5/03/23
—
(36,479)
Brazilian
Real
......
MSCO
Buy
3,700,000
676,071
5/04/23
50,381
—
Chilean
Peso
......
GSCO
Buy
34,749,056
42,808
5/09/23
776
—
Indian
Rupee
......
JPHQ
Buy
37,911,100
452,859
6/14/23
6,978
—
Japanese
Yen
......
DBAB
Buy
101,100,000
753,747
6/15/23
16,009
—
Indian
Rupee
......
CITI
Buy
12,814,700
155,367
6/21/23
—
—
Chilean
Peso
......
GSCO
Buy
410,196,259
495,676
6/22/23
15,099
—
Indian
Rupee
......
HSBK
Buy
32,799,900
396,719
7/10/23
447
—
Indian
Rupee
......
JPHQ
Buy
12,453,500
148,722
7/11/23
2,063
—
Chilean
Peso
......
GSCO
Buy
194,152,806
194,335
7/26/23
46,220
—
Thai
Baht
.........
HSBK
Buy
19,700,000
578,537
8/07/23
4,931
—
Malaysian
Ringgit
...
GSCO
Buy
1,220,000
278,285
8/21/23
956
—
Columbian
Peso
....
GSCO
Buy
370,000,000
72,809
10/12/23
3,617
—
Total
Forward
Exchange
Contracts
...................................................
$175,960
$(36,722)
Net
unrealized
appreciation
(depreciation)
............................................
$139,238
*
In
U.S.
dollars
unless
otherwise
indicated.
a
May
be
comprised
of
multiple
contracts
with
the
same
counterparty,
currency
and
settlement
date.
Interest
Rate
Swap
Contracts
Description
Payment
Frequency
Counter-
party
Maturity
Date
Notional
Amount
*
Value
Upfront
Payments
(Receipts)
Unrealized
Appreciation
(Depreciation)
aa
aa
aa
aa
Centrally
Cleared
Swap
Contracts
Receive
Floating
1-day
SOFR
............
Annual
Pay
Fixed
2.989%
...
Annual
6/30/32
282,000
$
6,621
$
—
$
6,621
Receive
Floating
1-day
SOFR
............
Annual
Pay
Fixed
2.612%
...
Annual
7/07/32
283,000
14,959
—
14,959
Total
Interest
Rate
Swap
Contracts
...............................
$21,580
$
—
$21,580
Templeton
Income
Trust
23
Quarterly
Schedule
of
Investments
Notes
to
Schedules
of
Investments
(unaudited)
1.
Organization
Templeton
Income
Trust (Trust)
is
registered
under
the
Investment
Company
Act
of
1940
(1940
Act)
as
an
open-end
management
investment
company,
consisting
of four
separate
funds
(Funds).
The
Funds
follow
the
accounting
and
reporting
guidance
in
Financial
Accounting
Standards
Board
(FASB)
Accounting
Standards
Codification
Topic
946,
Financial
Services
–
Investment
Companies
(ASC
946)
and
apply
the
specialized
accounting
and
reporting
guidance
in
U.S.
Generally
Accepted
Accounting
Principles
(U.S.
GAAP),
including,
but
not
limited
to,
ASC
946. 
2. Financial
Instrument
Valuation
The
Funds’
investments
in
financial
instruments
are
carried
at
fair
value
daily.
Fair
value
is
the
price
that
would
be
received
to
sell
an
asset
or
paid
to
transfer
a
liability
in
an
orderly
transaction
between
market
participants
on
the
measurement
date.
The
Funds
calculate
the
net
asset
value
(NAV)
per
share
each
business
day
as
of
4
p.m.
Eastern
time
or
the
regularly
scheduled
close
of
the
New
York
Stock
Exchange
(NYSE),
whichever
is
earlier.
Under
compliance
policies
and
procedures
approved
by
the
Trust’s
Board
of
Trustees
(the
Board),
the
Board
has
designated
the
Funds'
investment
manager
as
the
valuation
designee
and
has
responsibility
for
oversight
of
valuation.
The
investment
manager
is
assisted
by
the
Funds'
administrator
in
performing
this
responsibility,
including
leading
the
cross-functional
Valuation
Committee
(VC).
The
Funds
may
utilize
independent
pricing
services,
quotations
from
securities
and
financial
instrument
dealers,
and
other
market
sources
to
determine
fair
value. 
Equity
securities
listed
on
an
exchange
or
on
the
NASDAQ
National
Market
System
are
valued
at
the
last
quoted
sale
price
or
the
official
closing
price
of
the
day,
respectively.
Foreign
equity
securities
are
valued
as
of
the
close
of
trading
on
the
foreign
stock
exchange
on
which
the
security
is
primarily
traded
or
as
of
4
p.m.
Eastern
time.
The
value
is
then
converted
into
its
U.S.
dollar
equivalent
at
the
foreign
exchange
rate
in
effect
at
4
p.m. Eastern
time
on
the
day
that
the
value
of
the
security
is
determined.
Over-the-counter
(OTC)
securities
are
valued
within
the
range
of
the
most
recent
quoted
bid
and
ask
prices.
Securities
that
trade
in
multiple
markets
or
on
multiple
exchanges
are
valued
according
to
the
broadest
and
most
representative
market.
Certain
equity
securities
are
valued
based
upon
fundamental
characteristics
or
relationships
to
similar
securities. 
Debt
securities
generally
trade
in
the
OTC
market
rather
than
on
a
securities
exchange.
The
Funds’
pricing
services
use
multiple
valuation
techniques
to
determine
fair
value.
In
instances
where
sufficient
market
activity
exists,
the
pricing
services
may
utilize
a
market-based
approach
through
which
quotes
from
market
makers
are
used
to
determine
fair
value.
In
instances
where
sufficient
market
activity
may
not
exist
or
is
limited,
the
pricing
services
also
utilize
proprietary
valuation
models
which
may
consider
market
characteristics
such
as
benchmark
yield
curves,
credit
spreads,
estimated
default
rates,
anticipated
market
interest
rate
volatility,
coupon
rates,
anticipated
timing
of
principal
repayments,
underlying
collateral,
and
other
unique
security
features
in
order
to
estimate
the
relevant
cash
flows,
which
are
then
discounted
to
calculate
the
fair
value.
Securities
denominated
in
a
foreign
currency
are
converted
into
their
U.S.
dollar
equivalent
at
the
foreign
exchange
rate
in
effect
at
4
p.m.
Eastern
time
on
the
date
that
the
values
of
the
foreign
debt
securities
are
determined.
Investments
in
open-end
mutual
funds
are
valued
at
the
closing
NAV.
Certain
derivative
financial
instruments
are
centrally
cleared
or
trade
in
the
OTC
market.
The
Funds’
pricing
services
use
various
techniques
including
industry
standard
option
pricing
models
and
proprietary
discounted
cash
flow
models
to
determine
the
fair
value
of
those
instruments.
The
Funds’ net
benefit
or
obligation
under
the
derivative
contract,
as
measured
by
the
fair
value
of
the
contract,
is
included
in
net
assets. 
The
Funds
have procedures
to
determine
the
fair
value
of
financial
instruments
for
which
market
prices
are
not
reliable
or
readily
available.
Under
these
procedures,
the
Funds
primarily employ
a
market-based
approach
which
may
use
related
or
comparable
assets
or
liabilities,
recent
transactions,
market
multiples,
and
other
relevant
information
for
the
investment
to
determine
the
fair
value
of
the
investment.
An
income-based
valuation
approach
may
also
be
used
in
which
the
anticipated
Templeton
Income
Trust
Notes
to
Schedules
of
Investments
(unaudited)
24
Quarterly
Schedule
of
Investments
future
cash
flows
of
the
investment
are
discounted
to
calculate
fair
value.
Discounts
may
also
be
applied
due
to
the
nature
or
duration
of
any
restrictions
on
the
disposition
of
the
investments.
Due
to
the
inherent
uncertainty
of
valuations
of
such
investments,
the
fair
values
may
differ
significantly
from
the
values
that
would
have
been
used
had
an
active
market
existed. 
Trading
in
securities
on
foreign
securities
stock
exchanges
and
OTC
markets
may
be
completed
before
4
p.m.
Eastern
time.
In
addition,
trading
in
certain
foreign
markets
may
not
take
place
on
every
Funds’ business
day.
Events
can
occur
between
the
time
at
which
trading
in
a
foreign
security
is
completed
and
4
p.m.
Eastern
time
that
might
call
into
question
the
reliability
of
the
value
of
a
portfolio
security
held
by
the
Fund.
As
a
result,
differences
may
arise
between
the
value
of
the
Funds’
portfolio
securities
as
determined
at
the
foreign
market
close
and
the
latest
indications
of
value
at
4
p.m.
Eastern
time.
In
order
to
minimize
the
potential
for
these
differences,
an
independent
pricing
service
may
be
used
to
adjust
the
value
of
the
Funds'
portfolio
securities
to
the
latest
indications
of
fair
value
at 4
p.m.
Eastern
time.
When
the
last
day
of
the
reporting
period
is
a
non-business
day,
certain
foreign
markets
may
be
open
on
those
days
that
the
Funds’
NAV
is
not
calculated,
which
could
result
in
differences
between
the
value
of
the
Funds’
portfolio securities
on
the
last
business
day
and
the
last
calendar
day
of
the
reporting
period.
Any
security
valuation
changes
due
to
an
open
foreign
market
are
adjusted
and
reflected
by
the
Funds for
financial
reporting
purposes.
3.
Restricted
Securities
At
March
31,
2023,
investments
in
restricted
securities,
excluding
securities
exempt
from
registration
under
the
Securities
Act
of
1933,
were
as
follows:
4.
Investments
in
Affiliated
Management
Investment
Companies 
Certain
or
all
Funds
invest
in
one
or
more
affiliated
management
investment
companies.
As
defined
in
the
1940
Act,
an
investment
is
deemed
to
be
a
“Controlled
Affiliate”
of
a
fund
when
a
fund
owns,
either
directly
or
indirectly,
25%
or
more
of
the
affiliated
fund’s
outstanding
shares
or
has
the
power
to
exercise
control
over
management
or
policies
of
such
fund.
The
Funds
do
not
invest
for
purposes
of
exercising
a
controlling
influence
over
the
management
or
policies.
During
the
period
ended
March
31,
2023,
investments
in
affiliated
management
investment
companies
were
as
follows: 
Shares
Issuer
Acquisition
Date
Cost
Value
Templeton
Global
Total
Return
Fund
434,200,485
K2016470219
South
Africa
Ltd.,
A
...............
2/22/11
-
2/01/17
$
1,608,225
$
—
50,014,925
K2016470219
South
Africa
Ltd.,
B
...............
2/01/17
37,134
—
Total
Restricted
Securities
(Value
is
—%
of
Net
Assets)
..............
$1,645,359
$—
Principal
Amount
*
/
Shares
Issuer
Acquisition
Date
Cost
Value
Templeton
Sustainable
Emerging
Markets
Bond
Fund
2,171,539
a
K2016470219
South
Africa
Ltd.,
A
...............
5/16/13
-
2/01/17
$
14,538
$
—
619,903
a
K2016470219
South
Africa
Ltd.,
B
...............
2/01/17
460
—
477,900
Reventazon
Finance
Trust,
Senior
Secured
Bond,
144A,
8%,
11/15/33
..............................
12/18/13
477,900
446,301
Total
Restricted
Securities
(Value
is
3.0%
of
Net
Assets)
..............
$492,898
$446,301
*
The
principal
amount
is
stated
in
U.S.
dollars
unless
otherwise
indicated.
a
The
Fund
also
invests
in
unrestricted
securities
of
the
issuer,
valued
at
$
0
as
of
March
31,
2023.
2. Financial
Instrument
Valuation
(continued)
Templeton
Income
Trust
Notes
to
Schedules
of
Investments
(unaudited)
25
Quarterly
Schedule
of
Investments
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’
financial
instruments
and
are
summarized
in
the
following
fair
value
hierarchy:
• Level
1
–
quoted
prices
in
active
markets
for
identical
financial
instruments
• Level
2
–
other
significant
observable
inputs
(including
quoted
prices
for
similar
financial
instruments,
interest
rates,
prepayment
speed,
credit
risk,
etc.)
• Level
3
–
significant
unobservable
inputs
(including
the
Funds'
own
assumptions
in
determining
the
fair
value
of
financial
instruments)
    aa
Value
at
Beginning
of
Period
Purchases
Sales
Realized
Gain
(Loss)
Net
Change
in
Unrealized
Appreciation
(Depreciation)
Value
at
End
of
Period
Number
of
Shares
Held
at
End
of
Period
Investment
Income
a      
a  
a  
a  
a  
a  
a  
a  
Templeton
Global
Bond
Fund
Non-Controlled
Affiliates
Dividends
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
4.371%
$
428,932,984
$
820,900,731
$
(983,704,414)
$
—
$
—
$
266,129,301
266,129,301
$
3,903,428
Total
Affiliated
Securities
...
$428,932,984
$820,900,731
$(983,704,414)
$—
$—
$266,129,301
$3,903,428
Templeton
Global
Total
Return
Fund
Non-Controlled
Affiliates
Dividends
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
4.371%
$
36,021,294
$
102,020,715
$
(119,761,446)
$
—
$
—
$
18,280,563
18,280,563
$
352,252
Total
Affiliated
Securities
...
$36,021,294
$102,020,715
$(119,761,446)
$—
$—
$18,280,563
$352,252
Templeton
International
Bond
Fund
Non-Controlled
Affiliates
Dividends
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
4.371%
$
10,620,409
$
10,128,540
$
(9,566,057)
$
—
$
—
$
11,182,892
11,182,892
$
97,352
Total
Affiliated
Securities
...
$10,620,409
$10,128,540
$(9,566,057)
$—
$—
$11,182,892
$97,352
Templeton
Sustainable
Emerging
Markets
Bond
Fund
Non-Controlled
Affiliates
Dividends
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
4.371%
$
706,837
$
3,700,173
$
(2,516,305)
$
—
$
—
$
1,890,705
1,890,705
$
15,541
Total
Affiliated
Securities
...
$706,837
$3,700,173
$(2,516,305)
$—
$—
$1,890,705
$15,541
4.
Investments
in
Affiliated
Management
Investment
Companies 
(continued)
Templeton
Income
Trust
Notes
to
Schedules
of
Investments
(unaudited)
26
Quarterly
Schedule
of
Investments
The
input
levels
are
not
necessarily
an
indication
of
the
risk
or
liquidity
associated
with
financial
instruments
at
that
level. 
A
summary
of
inputs
used
as
of
March
31,
2023,
in
valuing
the
Funds’
assets
and
liabilities carried
at
fair
value,
is
as
follows:  
Level
1
Level
2
Level
3
Total
Templeton
Global
Bond
Fund
Assets:
Investments
in
Securities
a
:
Foreign
Government
and
Agency
Securities
....
$
—
$
3,186,019,365
$
—
$
3,186,019,365
U.S.
Government
and
Agency
Securities
.......
—
1,041,409,021
—
1,041,409,021
Short
Term
Investments
...................
266,129,301
1,053,966,769
—
1,320,096,070
Total
Investments
in
Securities
...........
$266,129,301
$5,281,395,155
$—
$5,547,524,456
Other
Financial
Instruments:
Forward
exchange
contracts
...............
$
—
$
46,406,497
$
—
$
46,406,497
Total
Other
Financial
Instruments
.........
$—
$46,406,497
$—
$46,406,497
Liabilities:
Other
Financial
Instruments:
Forward
exchange
contracts
................
$
—
$
28,350,382
$
—
$
28,350,382
..............................................................
Total
Other
Financial
Instruments
.........
$—
$28,350,382
$—
$28,350,382
Templeton
Global
Total
Return
Fund
Assets:
Investments
in
Securities
a
:
Common
Stocks
........................
$
—
$
—
$
—
b
$
—
Corporate
Bonds
........................
—
—
—
b
—
Foreign
Government
and
Agency
Securities
....
—
326,720,011
—
326,720,011
U.S.
Government
and
Agency
Securities
.......
—
15,829,661
—
15,829,661
Escrows
and
Litigation
Trusts
...............
—
—
—
b
—
Short
Term
Investments
...................
18,280,563
77,180,919
—
95,461,482
Total
Investments
in
Securities
...........
$18,280,563
$419,730,591
$—
$438,011,154
Other
Financial
Instruments:
Forward
exchange
contracts
...............
$
—
$
4,265,950
$
—
$
4,265,950
Swap
contracts
.........................
—
2,336,719
—
2,336,719
Total
Other
Financial
Instruments
.........
$—
$6,602,669
$—
$6,602,669
Liabilities:
Other
Financial
Instruments:
Forward
exchange
contracts
................
$
—
$
2,519,487
$
—
$
2,519,487
..............................................................
Total
Other
Financial
Instruments
.........
$—
$2,519,487
$—
$2,519,487
Templeton
International
Bond
Fund
Assets:
Investments
in
Securities
a
:
Foreign
Government
and
Agency
Securities
....
$
—
$
18,894,911
$
—
$
18,894,911
Short
Term
Investments
...................
11,182,892
4,275,792
—
15,458,684
Total
Investments
in
Securities
...........
$11,182,892
$23,170,703
$—
$34,353,595
Other
Financial
Instruments:
Forward
exchange
contracts
...............
$
—
$
332,466
$
—
$
332,466
Total
Other
Financial
Instruments
.........
$—
$332,466
$—
$332,466
Liabilities:
Other
Financial
Instruments:
Forward
exchange
contracts
................
$
—
$
88,312
$
—
$
88,312
..............................................................
Total
Other
Financial
Instruments
.........
$—
$88,312
$—
$88,312
5. Fair
Value
Measurements 
(continued)
Templeton
Income
Trust
Notes
to
Schedules
of
Investments
(unaudited)
27
Quarterly
Schedule
of
Investments
A
reconciliation
in
which
Level
3
inputs
are
used
in
determining
fair
value
is
presented
when
there
are
significant
Level
3
assets
and/or
liabilities
at
the
beginning
and/or
end
of
the
period.
At March
31,
2023,
the
reconciliation
is
as
follows:
Significant
unobservable
valuation
inputs
for
material
Level
3
assets
and/or
liabilities
and
impact
to
fair
value
as
a
result
of
changes
in
unobservable
valuation
inputs
as
of
March
31,
2023,
are
as
follows:
Level
1
Level
2
Level
3
Total
Templeton
Sustainable
Emerging
Markets
Bond
Fund
Assets:
Investments
in
Securities
a
:
Common
Stocks
........................
$
—
$
—
$
—
b
$
—
Corporate
Bonds
........................
—
—
446,301
b
446,301
Foreign
Government
and
Agency
Securities
....
—
11,755,897
—
11,755,897
Escrows
and
Litigation
Trusts
...............
—
—
—
b
—
Short
Term
Investments
...................
1,890,705
400,514
—
2,291,219
Total
Investments
in
Securities
...........
$1,890,705
$12,156,411
$446,301
$14,493,417
Other
Financial
Instruments:
Forward
exchange
contracts
...............
$
—
$
175,960
$
—
$
175,960
Swap
contracts
.........................
—
21,580
—
21,580
Total
Other
Financial
Instruments
.........
$—
$197,540
$—
$197,540
Liabilities:
Other
Financial
Instruments:
Forward
exchange
contracts
................
$
—
$
36,722
$
—
$
36,722
..............................................................
Total
Other
Financial
Instruments
.........
$—
$36,722
$—
$36,722
a
For
detailed
categories,
see
the
accompanying
Schedule
of
I
nvestments.
b
Includes
financial
instruments
determined
to
have
no
value
at
March
31,
2023.
Balance
at
Beginning
of
Period
Purchases
Sales
Transfer
Into
Level
3
Transfer
Out
of
Level
3
Net
Accretion
(Amortiza-
tion)
Net
Realized
Gain
(Loss)
Net
Unr
ealized
Appreciation
(Depreciation)
Balance
at
End
of
Period
Net
Change
in
Unrealized
Appreciation
(Depreciation)
on
Assets
Held
at
Period
End
a
a
a
a
a
a
a
a
a
a
a
Templeton
Sustainable
Emerging
Markets
Bond
Fund
Assets:
Investments
in
Securities:
Common
Stocks
:
South
Africa
..
$
—
a
$
—
$
—
$
—
$
—
$
—
$
—
$
—
$
—
a
$
—
Corporate
Bonds
:
Costa
Rica
...
450,492
—
—
—
—
—
—
(4,191)
446,301
(4,191)
South
Africa
..
—
a
—
—
—
—
—
—
—
—
a
—
Escrows
and
Litigation
Trusts
..
—
a
—
—
—
—
—
—
—
—
a
—
Total
Investments
in
Securities
.........
$450,492
$—
$—
$—
$—
$—
$—
$(4,191)
$446,301
$(4,191)
a
Includes
financial
instruments
determined
to
have
no
value.
5. Fair
Value
Measurements 
(continued)
Templeton
Income
Trust
Notes
to
Schedules
of
Investments
(unaudited)
28
Quarterly
Schedule
of
Investments
Description
Fair
Value
at
End
of
Period
Valuation
Technique
Unobservable
Inputs
Amount/
Range
(Weight
Average)
Impact
to
Fair
Value
if
Input
Increases
a
Templeton
Sustainable
Emerging
Markets
Bond
Fund
Assets:
Investments
in
Securities:
Corporate
Bonds:
Costa
Rica
.....................
$446,301
Discounted
cash
flow
Discount
rate
(
b
)
9.6%
Decrease
All
Other
.......................
—
c
Total
..........................
$446,301
a
Represents
the
directional
change
in
the
fair
value
of
the
Level
3
financial
instruments
that
would
result
from
a
significant
and
reasonable
increase
in
the
corresponding
input.
A
significant
and
reasonable
decrease
in
the
input
would
have
the
opposite
effect.
Significant
increases
and
decreases
in
these
inputs
in
isolation
could
result
in
significantly
higher
or
lower
fair
value
measurements.
b
The
discount
rate
is
comprised
of
the
risk-free
rate,
the
10-year
Costa
Rican
CDS
spread,
and
an
incremental
issuer
credit
spread
combined
to
arrive
at
an
8%
yield
on
issue
date
for
an
8%
coupon
bond
issued
at
par.
The
incremental
issuer
spread
is
further
adjusted
to
reflect
the
current
market
spread
for
similar
credits
above
the
Costa
Rican
credit
spread.
c
Includes
financial
instruments
determined
to
have
no
value
at
March
31,
2023.
5. Fair
Value
Measurements 
(continued)
Templeton
Income
Trust
Notes
to
Schedules
of
Investments
(unaudited)
29
Quarterly
Schedule
of
Investments
Abbreviations
Counterparty
BNDP
BNP
Paribas
SA
BOFA
Bank
of
America
Corp.
BZWS
Barclays
Bank
plc
CITI
Citibank
NA
DBAB
Deutsche
Bank
AG
GSCO
Goldman
Sachs
Group,
Inc.
HSBK
HSBC
Bank
plc
JPHQ
JPMorgan
Chase
Bank
NA
MSCO
Morgan
Stanley
Selected
Portfolio
PIK
Payment-In-Kind
SOFR
Secured
Overnight
Financing
Rate
Currency
AUD
Australian
Dollar
BRL
Brazilian
Real
CAD
Canadian
Dollar
CLP
Chilean
Peso
COP
Colombian
Peso
CZK
Czech
Koruna
EUR
Euro
GBP
British
Pound
GHS
Ghanaian
Cedi
HUF
Hungarian
Forint
IDR
Indonesian
Rupiah
INR
Indian
Rupee
JPY
Japanese
Yen
KRW
South
Korean
Won
MXN
Mexican
Peso
MYR
Malaysian
Ringgit
NOK
Norwegian
Krone
SGD
Singapore
Dollar
THB
Thai
Baht
UYU
Uruguayan
Peso
For
additional
information
on
the
Funds'
significant
accounting
policies,
please
refer
to
the Funds'
most
recent
semiannual
or
annual
shareholder
report.