NPORT-EX 2 TIT.htm
Not
FDIC
Insured
May
Lose
Value
No
Bank
Guarantee
TIT-Q3PH
1
Schedules
of
Investments
(unaudited)
Templeton
Global
Bond
Fund
2
Templeton
Global
Total
Return
Fund
8
Templeton
International
Bond
Fund
14
Templeton
Sustainable
Emerging
Markets
Bond
Fund
19
Notes
to
Schedules
of
Investments
24
Templeton
Income
Trust
Schedule
of
Investments
(unaudited),
September
30,
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
78.6%
Australia
12.9%
New
South
Wales
Treasury
Corp.
,
Senior
Bond,
2%,
3/08/33
........
334,744,000
AUD
$
166,640,187
a
Senior
Bond,
Reg
S,
1.75%,
3/20/34
94,524,000
AUD
44,276,462
Queensland
Treasury
Corp.
,
Senior
Bond,
2%,
8/22/33
........
163,850,000
AUD
80,923,352
a
Senior
Bond,
144A,
Reg
S,
1.75%,
7/20/34
......................
241,968,000
AUD
112,708,676
Treasury
Corp.
of
Victoria
,
a
Senior
Bond,
Reg
S,
2.25%,
9/15/33
246,406,000
AUD
123,294,736
Senior
Bond,
2.25%,
11/20/34
.....
141,082,000
AUD
68,032,787
595,876,200
Brazil
7.0%
Brazil
Notas
do
Tesouro
Nacional
,
10%,
1/01/27
..................
423,684,000
BRL
82,565,930
10%,
1/01/31
..................
480,994,000
BRL
89,218,786
10%,
1/01/33
..................
203,346,000
BRL
36,961,853
F,
10%,
1/01/29
................
605,916,000
BRL
114,921,583
323,668,152
Colombia
5.8%
Colombia
Government
Bond,
Senior
Bond,
9.85%,
6/28/27
............
10,884,000,000
COP
2,509,772
Colombia
Titulos
de
Tesoreria
,
B,
6%,
4/28/28
.................
125,077,800,000
COP
25,306,874
B,
7.75%,
9/18/30
..............
295,978,800,000
COP
60,624,982
B,
7%,
3/26/31
.................
110,158,200,000
COP
21,178,106
B,
7%,
6/30/32
.................
107,691,000,000
COP
19,920,406
B,
13.25%,
2/09/33
.............
248,870,000,000
COP
65,934,841
B,
7.25%,
10/18/34
.............
148,699,000,000
COP
26,541,520
B,
6.25%,
7/09/36
..............
41,872,000,000
COP
6,597,403
B,
9.25%,
5/28/42
..............
206,416,000,000
COP
40,262,058
268,875,962
Germany
3.1%
a
Bundesobligation
,
Reg
S,
10/18/24
...
33,025,000
EUR
33,674,729
a
Bundesrepublik
Deutschland,
Reg
S,
6.25%,
1/04/24
................
32,383,000
EUR
34,474,885
a
Bundesschatzanweisungen
,
Reg
S,
0.4%,
9/13/24
.................
71,665,000
EUR
73,546,063
141,695,677
Ghana
1.5%
b
Ghana
Government
Bond
,
PIK,
5%,
2/16/27
...............
114,003,901
GHS
6,117,898
PIK,
8.5%,
2/15/28
..............
180,826,999
GHS
8,554,913
PIK,
8.65%,
2/13/29
.............
180,960,287
GHS
7,628,703
PIK,
8.8%,
2/12/30
..............
181,093,575
GHS
6,885,252
PIK,
8.95%,
2/11/31
.............
161,090,545
GHS
5,737,921
PIK,
9.1%,
2/10/32
..............
161,209,023
GHS
5,457,629
PIK,
9.25%,
2/08/33
.............
161,327,501
GHS
5,256,388
PIK,
9.4%,
2/07/34
..............
161,445,979
GHS
5,116,423
PIK,
9.55%,
2/06/35
.............
161,564,457
GHS
5,023,971
PIK,
9.7%,
2/05/36
..............
161,682,935
GHS
4,968,377
PIK,
9.85%,
2/03/37
.............
161,801,413
GHS
4,941,392
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)
Ghana
(continued)
b
Ghana
Government
Bond,
(continued)
PIK,
10%,
2/02/38
..............
161,919,891
GHS
$
4,936,632
70,625,499
India
5.4%
India
Government
Bond
,
7.26%,
1/14/29
................
6,911,000,000
INR
83,238,286
Senior
Bond,
7.26%,
8/22/32
......
12,972,780,000
INR
156,232,673
Senior
Note,
7.1%,
4/18/29
.......
917,600,000
INR
10,977,827
250,448,786
Indonesia
9.6%
Indonesia
Government
Bond
,
FR68,
8.375%,
3/15/34
..........
342,118,000,000
IDR
24,698,905
FR73,
8.75%,
5/15/31
...........
80,267,000,000
IDR
5,823,941
FR82,
7%,
9/15/30
..............
291,868,000,000
IDR
19,127,882
FR87,
6.5%,
2/15/31
............
56,763,000,000
IDR
3,606,498
FR91,
6.375%,
4/15/32
..........
159,351,000,000
IDR
10,068,241
FR95,
6.375%,
8/15/28
..........
1,236,021,000,000
IDR
79,542,010
FR96,
7%,
2/15/33
..............
4,600,954,000,000
IDR
300,218,575
443,086,052
Malaysia
8.3%
Malaysia
Government
Bond
,
3.478%,
6/14/24
................
56,800,000
MYR
12,116,607
4.181%,
7/15/24
................
109,530,000
MYR
23,456,564
4.059%,
9/30/24
................
126,740,000
MYR
27,146,783
3.882%,
3/14/25
................
188,040,000
MYR
40,335,771
3.955%,
9/15/25
................
28,830,000
MYR
6,187,780
3.9%,
11/30/26
.................
226,950,000
MYR
48,722,565
3.892%,
3/15/27
................
19,290,000
MYR
4,134,795
3.502%,
5/31/27
................
30,640,000
MYR
6,476,353
3.899%,
11/16/27
...............
691,620,000
MYR
148,479,667
3.733%,
6/15/28
................
52,470,000
MYR
11,151,352
4.498%,
4/15/30
................
97,744,000
MYR
21,553,825
3.582%,
7/15/32
................
162,510,000
MYR
33,490,003
383,252,065
Mexico
4.3%
Mexican
Bonos
,
M,
10%,
11/20/36
...............
121,740,000
MXN
7,017,625
M,
Senior
Bond,
7.75%,
11/23/34
...
378,250,000
MXN
18,511,522
Mexican
Bonos
Desarr
Fixed
Rate
,
M,
7.5%,
5/26/33
...............
2,389,180,000
MXN
116,513,672
M,
Senior
Bond,
8.5%,
5/31/29
.....
384,700,000
MXN
20,653,555
M,
Senior
Bond,
8.5%,
11/18/38
....
223,180,000
MXN
11,294,245
M,
Senior
Bond,
7.75%,
11/13/42
...
480,400,000
MXN
22,214,519
196,205,138
Norway
4.9%
a
Norway
Government
Bond
,
Senior
Bond,
144A,
Reg
S,
3%,
3/14/24
......................
1,541,408,000
NOK
143,215,362
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)
Norway
(continued)
a
Norway
Government
Bond,
(continued)
Senior
Bond,
144A,
Reg
S,
1.75%,
3/13/25
......................
890,910,000
NOK
$
80,420,925
223,636,287
Panama
2.1%
Panama
Government
Bond
,
Senior
Bond,
2.252%,
9/29/32
.....
9,120,000
6,623,482
Senior
Bond,
6.4%,
2/14/35
.......
91,380,000
88,778,557
95,402,039
Singapore
5.1%
Singapore
Government
Bond
,
2.875%,
9/01/30
................
45,530,000
SGD
32,237,165
2.625%,
8/01/32
................
184,620,000
SGD
127,342,764
3.375%,
9/01/33
................
100,950,000
SGD
73,683,938
233,263,867
South
Korea
4.7%
Korea
Treasury
Bonds
,
1.375%,
9/10/24
................
157,783,010,000
KRW
114,235,543
c
3.25%,
3/10/28
................
81,784,000,000
KRW
58,884,212
c
3.5%,
9/10/28
.................
60,932,000,000
KRW
44,140,388
217,260,143
Thailand
3.9%
Thailand
Government
Bond
,
0.75%,
9/17/24
................
3,255,070,000
THB
87,518,834
1%,
6/17/27
...................
2,318,690,000
THB
59,572,041
Senior
Note,
0.66%,
11/22/23
......
1,268,120,000
THB
34,565,051
181,655,926
Total
Foreign
Government
and
Agency
Securities
(Cost
$3,924,455,553)
...........
3,624,951,793
U.S.
Government
and
Agency
Securities
9.4%
United
States
9.4%
U.S.
Treasury
Bonds
,
3.375%,
8/15/42
................
103,690,000
84,035,480
3.125%,
2/15/43
................
60,250,000
46,657,270
3.625%,
8/15/43
................
208,570,000
174,086,698
3.75%,
11/15/43
................
53,070,000
45,059,747
U.S.
Treasury
Notes,
3.5%,
2/15/33
...
89,400,000
82,038,469
431,877,664
Total
U.S.
Government
and
Agency
Securities
(Cost
$481,792,804)
................
431,877,664
Total
Long
Term
Investments
(Cost
$4,406,248,357)
.............................
4,056,829,457
Templeton
Income
Trust
Schedule
of
Investments
(unaudited)
Templeton
Global
Bond
Fund
(continued)
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
5
a
a  
Number
of
Contracts
Notional
Amount
#
a
Value
a
a
a
a
aa
a
a
Options
Purchased
0.0%
†
Calls
-
Over-the-Counter
Currency
Options
Foreign
Exchange
USD/MXN,
Counterparty
BZWS,
November
Strike
Price
18.40
MXN,
Expires
11/01/23
.
1
220,804,000
$
841,080
841,080
Puts
-
Over-the-Counter
Currency
Options
Foreign
Exchange
USD/MXN,
Counterparty
BZWS,
February
Strike
Price
16.04
MXN,
Expires
2/01/24
..
1
110,404,000
110,159
110,159
Total
Options
Purchased
(Cost
$2,041,340)
.....................................
951,239
Short
Term
Investments
10.2%
a
a
Industry
Principal
Amount
*
a
Value
a
a
a
a
a
a
Foreign
Government
and
Agency
Securities
7.1%
Germany
2.3%
d
Germany
Treasury
Bills
,
a
Reg
S,
10/18/23
................
87,774,000
EUR
92,644,727
a
Reg
S,
3/20/24
.................
12,620,000
EUR
13,112,722
105,757,449
Japan
4.8%
d
Japan
Treasury
Bills
,
11/10/23
.....................
20,635,800,000
JPY
138,123,730
12/20/23
.....................
3,226,000,000
JPY
21,597,050
2/20/24
......................
9,663,100,000
JPY
64,705,678
224,426,458
Total
Foreign
Government
and
Agency
Securities
(Cost
$357,834,654)
............
330,183,907
Shares
Money
Market
Funds
3.1%
United
States
3.1%
e,f
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
5.019%
.........
143,421,160
143,421,160
Total
Money
Market
Funds
(Cost
$143,421,160)
.................................
143,421,160
a
a
a
a
a
Total
Short
Term
Investments
(Cost
$501,255,814
)
...............................
473,605,067
a
a
a
Total
Investments
(Cost
$4,909,545,511)
98.2%
..................................
$4,531,385,763
Options
Written
(0.0)%
†
......................................................
(1,147,243)
Other
Assets,
less
Liabilities
1.8%
.............................................
82,284,517
Net
Assets
100.0%
...........................................................
$4,612,523,037
a
a
a
Templeton
Income
Trust
Schedule
of
Investments
(unaudited)
Templeton
Global
Bond
Fund
(continued)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
6
At
September
30,
2023,
the
Fund
had
the
following
forward
exchange
contracts
outstanding.
a
a
a
Number
of
Contracts
Notional
Amount
#
a
Value
a
a
a
a
a
a
Options
Written
(0.0)%
†
a
Puts
-
Over-the-Counter
a
Currency
Options
Foreign
Exchange
USD/MXN,
Counterparty
BZWS,
February
Strike
Price
16.76
MXN,
Expires
2/01/24
..
1
220,804,000
$
(1,147,243)
(1,147,243)
Total
Options
Written
(Premiums
received
$2,329,482)
...........................
$
(1,147,243)
#
Notional
amount
is
the
number
of
contracts
multiplied
by
contract
size,
and
may
be
multiplied
by
the
underlying
price.
May
include
currency
units,
bushels,
shares,
pounds,
barrels
or
other
units.
Currency
units
are
stated
in
U.S.
dollars
unless
otherwise
indicated.
*
The
principal
amount
is
stated
in
U.S.
dollars
unless
otherwise
indicated.
†
Rounds
to
less
than
0.1%
of
net
assets.
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
September
30,
2023,
the
aggregate
value
of
these
securities
was
$751,369,287,
representing
16.3%
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
Indian
Rupee
......
HSBK
Buy
2,559,257,100
31,096,684
10/05/23
$
—
$
(280,738)
Indian
Rupee
......
HSBK
Sell
2,559,257,100
30,800,838
10/05/23
—
(15,107)
Indian
Rupee
......
JPHQ
Buy
2,823,969,900
34,308,536
10/10/23
—
(320,304)
Chilean
Peso
......
JPHQ
Buy
17,871,274,547
21,784,939
10/16/23
—
(1,731,617)
Chilean
Peso
......
JPHQ
Sell
17,871,274,547
21,837,006
10/16/23
1,783,684
—
South
Korean
Won
..
JPHQ
Buy
20,554,300,000
16,223,962
10/17/23
—
(1,015,281)
South
Korean
Won
..
JPHQ
Sell
4,372,000,000
3,247,153
10/17/23
12,193
—
Mexican
Peso
......
CITI
Buy
522,579,750
24,914,790
10/23/23
4,962,656
—
Mexican
Peso
......
CITI
Sell
522,579,750
22,751,028
10/23/23
—
(7,126,417)
Japanese
Yen
......
JPHQ
Buy
8,080,979,530
56,104,082
11/21/23
—
(1,578,069)
Japanese
Yen
......
JPHQ
Sell
1,246,000,000
8,405,377
11/21/23
—
(1,947)
Japanese
Yen
......
BOFA
Buy
27,371,868,200
189,355,896
12/14/23
—
(3,943,405)
Japanese
Yen
......
DBAB
Buy
35,628,107,310
246,638,275
12/14/23
—
(5,299,390)
Japanese
Yen
......
GSCO
Buy
5,039,000,000
37,070,551
12/15/23
—
(2,930,777)
Indian
Rupee
......
JPHQ
Buy
3,409,008,500
40,892,072
12/20/23
—
(30,367)
Japanese
Yen
......
BNDP
Buy
41,246,625,520
283,244,076
12/20/23
—
(3,530,663)
Japanese
Yen
......
MSCO
Buy
23,666,100,000
162,529,617
12/20/23
—
(2,038,291)
South
Korean
Won
..
DBAB
Buy
66,506,000,000
50,387,914
12/20/23
—
(1,008,606)
South
Korean
Won
..
HSBK
Buy
350,710,000,000
265,548,573
12/20/23
—
(5,153,763)
Indian
Rupee
......
HSBK
Buy
2,366,957,100
28,366,495
1/08/24
—
(25,389)
Indian
Rupee
......
CITI
Buy
2,857,906,500
34,181,396
3/20/24
—
(116,791)
New
Zealand
Dollar
.
BOFA
Buy
56,380,000
33,430,521
3/20/24
352,735
—
New
Zealand
Dollar
.
CITI
Buy
66,290,000
39,322,439
3/20/24
398,952
—
New
Zealand
Dollar
.
CITI
Sell
1,600,000
948,864
3/20/24
—
(9,866)
New
Zealand
Dollar
.
JPHQ
Buy
181,180,000
107,229,571
3/20/24
1,334,643
—
Templeton
Income
Trust
Schedule
of
Investments
(unaudited)
Templeton
Global
Bond
Fund
(continued)
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
7
At
September
30,
2023,
the
Fund
had
the
following
interest
rate
swap
contracts
outstanding.
See
Abbreviations
on
page
30
.
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
......
BOFA
Buy
15,477,619,440
108,493,057
3/21/24
$
—
$
(1,926,536)
Mexican
Peso
......
MSCO
Buy
540,623,000
23,797,497
9/03/24
5,475,265
—
Mexican
Peso
......
MSCO
Sell
540,623,000
22,984,206
9/03/24
—
(6,288,556)
Total
Forward
Exchange
Contracts
...................................................
$14,320,128
$(44,371,880)
Net
unrealized
appreciation
(depreciation)
............................................
$(30,051,752)
*
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
Fixed
3.285%
.
Annual
Pay
Floating
1-day
SOFR
............
Annual
5/03/33
264,960,000
$
(22,779,691)
$
—
$
(22,779,691)
Receive
Fixed
3.847%
.
Annual
Pay
Floating
1-day
SOFR
............
Annual
8/31/33
172,660,000
(6,237,876)
—
(6,237,876)
Total
Interest
Rate
Swap
Contracts
...............................
$(29,017,567)
$
—
$(29,017,567)
*
In
U.S.
dollars
unless
otherwise
indicated.
Templeton
Income
Trust
Schedule
of
Investments
(unaudited),
September
30,
2023
Templeton
Global
Total
Return
Fund
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
8
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%,
12/31/22
.....................
Broadline
Retail
37,627,701
—
Senior
Secured
Note,
144A,
PIK,
8%,
12/31/22
.....................
Broadline
Retail
14,528,882
EUR
—
a,d,e
K2016470260
South
Africa
Ltd.
,
Senior
Secured
Note
,
144A,
PIK,
25
%
,
12/31/22
.....................
Broadline
Retail
19,186,470
—
—
Total
Corporate
Bonds
(Cost
$46,940,536)
......................................
—
a
a
Industry
Principal
Amount
*
a
Value
Foreign
Government
and
Agency
Securities
83.2%
Australia
7.8%
New
South
Wales
Treasury
Corp.
,
Senior
Bond,
2%,
3/08/33
........
21,403,000
AUD
10,654,709
e
Senior
Bond,
Reg
S,
1.75%,
3/20/34
992,000
AUD
464,668
Queensland
Treasury
Corp.
,
Senior
Bond,
2%,
8/22/33
........
7,490,000
AUD
3,699,212
e
Senior
Bond,
144A,
Reg
S,
1.75%,
7/20/34
......................
8,782,000
AUD
4,090,655
Treasury
Corp.
of
Victoria
,
e
Senior
Bond,
Reg
S,
2.25%,
9/15/33
15,269,000
AUD
7,640,185
Senior
Bond,
2.25%,
11/20/34
.....
2,963,000
AUD
1,428,822
27,978,251
Brazil
8.8%
Brazil
Notas
do
Tesouro
Nacional
,
10%,
1/01/27
..................
65,610,000
BRL
12,785,828
10%,
1/01/31
..................
31,491,000
BRL
5,841,214
10%,
1/01/33
..................
17,206,000
BRL
3,127,505
F,
10%,
1/01/29
................
51,267,000
BRL
9,723,600
31,478,147
Colombia
3.3%
Colombia
Titulos
de
Tesoreria
,
B,
13.25%,
2/09/33
.............
5,323,700,000
COP
1,410,444
B,
7.25%,
10/18/34
.............
9,738,000,000
COP
1,738,151
B,
6.25%,
7/09/36
..............
5,108,000,000
COP
804,823
B,
9.25%,
5/28/42
..............
39,235,000,000
COP
7,652,904
11,606,322
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)
Dominican
Republic
2.1%
e
Dominican
Republic
Government
Bond
,
Senior
Bond,
144A,
5.3%,
1/21/41
..
2,370,000
$
1,745,454
Senior
Bond,
144A,
6.4%,
6/05/49
..
580,000
461,553
Senior
Bond,
144A,
5.875%,
1/30/60
7,190,000
5,171,991
7,378,998
Ecuador
4.6%
e
Ecuador
Government
Bond
,
Senior
Bond,
144A,
3.5%,
7/31/35
..
29,086,000
10,887,317
Senior
Note,
144A,
6%,
7/31/30
....
10,467,000
5,371,051
16,258,368
Egypt
3.2%
e
Egypt
Government
Bond
,
Senior
Bond,
144A,
7.3%,
9/30/33
..
6,080,000
3,395,759
Senior
Bond,
144A,
8.5%,
1/31/47
..
950,000
509,799
Senior
Bond,
144A,
7.903%,
2/21/48
1,080,000
556,470
Senior
Bond,
144A,
8.7%,
3/01/49
..
820,000
442,001
Senior
Bond,
144A,
8.875%,
5/29/50
3,120,000
1,700,244
Senior
Bond,
144A,
8.75%,
9/30/51
.
6,580,000
3,557,253
Senior
Bond,
144A,
7.5%,
2/16/61
..
2,370,000
1,204,078
11,365,604
Germany
3.4%
e
Bundesobligation,
Reg
S,
10/18/24
...
2,800,000
EUR
2,855,087
e
Bundesrepublik
Deutschland,
Reg
S,
6.25%,
1/04/24
................
2,745,000
EUR
2,922,322
e
Bundesschatzanweisungen,
Reg
S,
0.4%,
9/13/24
.................
6,076,000
EUR
6,235,483
12,012,892
Ghana
2.6%
d
Ghana
Government
Bond
,
PIK,
5%,
2/16/27
...............
15,658,171
GHS
840,279
PIK,
8.5%,
2/15/28
..............
24,836,158
GHS
1,174,997
PIK,
8.65%,
2/13/29
.............
24,595,234
GHS
1,036,856
PIK,
8.8%,
2/12/30
..............
24,613,349
GHS
935,810
PIK,
8.95%,
2/11/31
.............
22,298,477
GHS
794,255
PIK,
9.1%,
2/10/32
..............
22,314,877
GHS
755,456
PIK,
9.25%,
2/08/33
.............
22,331,277
GHS
727,600
PIK,
9.4%,
2/07/34
..............
18,705,077
GHS
592,787
PIK,
9.55%,
2/06/35
.............
18,718,804
GHS
582,076
PIK,
9.7%,
2/05/36
..............
18,732,530
GHS
575,634
PIK,
9.85%,
2/03/37
.............
18,746,257
GHS
572,508
PIK,
10%,
2/02/38
..............
18,759,984
GHS
571,956
9,160,214
Hungary
4.7%
Hungary
Government
Bond
,
1%,
11/26/25
..................
1,458,900,000
HUF
3,430,748
3%,
10/27/27
..................
273,100,000
HUF
625,222
4.75%,
11/24/32
................
5,633,000,000
HUF
12,701,123
16,757,093
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)
India
4.1%
India
Government
Bond,
Senior
Bond,
7.26%,
8/22/32
................
1,219,000,000
INR
$
14,680,556
Indonesia
9.5%
Indonesia
Government
Bond
,
FR59,
7%,
5/15/27
..............
97,508,000,000
IDR
6,404,802
FR68,
8.375%,
3/15/34
..........
62,990,000,000
IDR
4,547,507
FR87,
6.5%,
2/15/31
............
10,451,000,000
IDR
664,016
FR91,
6.375%,
4/15/32
..........
29,340,000,000
IDR
1,853,783
FR95,
6.375%,
8/15/28
..........
82,071,000,000
IDR
5,281,538
FR96,
7%,
2/15/33
..............
231,181,000,000
IDR
15,084,878
33,836,524
Malaysia
10.0%
Malaysia
Government
Bond
,
3.478%,
6/14/24
................
17,780,000
MYR
3,792,839
4.181%,
7/15/24
................
14,730,000
MYR
3,154,526
4.059%,
9/30/24
................
19,180,000
MYR
4,108,216
3.882%,
3/14/25
................
14,090,000
MYR
3,022,394
3.955%,
9/15/25
................
5,335,000
MYR
1,145,051
3.502%,
5/31/27
................
1,320,000
MYR
279,007
3.899%,
11/16/27
...............
94,470,000
MYR
20,281,186
35,783,219
Mexico
4.8%
Mexican
Bonos
,
M,
10%,
11/20/36
...............
9,610,000
MXN
553,962
M,
Senior
Bond,
7.75%,
11/23/34
...
29,910,000
MXN
1,463,793
Mexican
Bonos
Desarr
Fixed
Rate
,
M,
7.5%,
5/26/33
...............
217,650,000
MXN
10,614,186
M,
Senior
Bond,
8.5%,
5/31/29
.....
35,600,000
MXN
1,911,272
M,
Senior
Bond,
8.5%,
11/18/38
....
17,630,000
MXN
892,184
M,
Senior
Bond,
7.75%,
11/13/42
...
37,940,000
MXN
1,754,411
17,189,808
Mongolia
1.6%
e
Mongolia
Government
Bond
,
Senior
Bond,
144A,
4.45%,
7/07/31
.
5,570,000
4,307,003
Senior
Note,
144A,
5.125%,
4/07/26
.
200,000
187,021
Senior
Note,
144A,
3.5%,
7/07/27
..
1,380,000
1,162,152
5,656,176
Norway
4.6%
e
Norway
Government
Bond,
Senior
Bond,
144A,
Reg
S,
3%,
3/14/24
...
176,017,000
NOK
16,354,099
Sri
Lanka
0.6%
e,f
Sri
Lanka
Government
Bond
,
Senior
Bond,
144A,
6.2%,
5/11/27
..
3,160,000
1,475,845
Senior
Bond,
144A,
6.75%,
4/18/28
.
460,000
215,953
Senior
Bond,
144A,
7.85%,
3/14/29
.
659,000
309,396
2,001,194
Supranational
2.8%
g
Asian
Development
Bank
,
Senior
Note,
11.75%,
7/24/24
......
24,954,000,000
COP
6,021,881
Templeton
Income
Trust
Schedule
of
Investments
(unaudited)
Templeton
Global
Total
Return
Fund
(continued)
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
11
a
a
Industry
Principal
Amount
*
a
Value
a
a
a
a
a
a
Foreign
Government
and
Agency
Securities
(continued)
Supranational
(continued)
g
Asian
Development
Bank,
(continued)
Senior
Note,
11.2%,
1/31/25
.......
16,141,000,000
COP
$
3,866,276
9,888,157
Thailand
4.7%
Thailand
Government
Bond
,
0.75%,
9/17/24
................
241,660,000
THB
6,497,495
1%,
6/17/27
...................
402,200,000
THB
10,333,367
16,830,862
Total
Foreign
Government
and
Agency
Securities
(Cost
$333,948,689)
............
296,216,484
U.S.
Government
and
Agency
Securities
6.1%
United
States
6.1%
U.S.
Treasury
Bonds
,
3.375%,
8/15/42
................
17,510,000
14,190,966
3.75%,
11/15/43
................
8,960,000
7,607,600
21,798,566
Total
U.S.
Government
and
Agency
Securities
(Cost
$24,320,034)
.................
21,798,566
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
$406,854,618)
...............................
318,015,050
Number
of
Contracts
Notional
Amount
#
a
a
aa
Options
Purchased
0.0%
†
Calls
-
Over-the-Counter
Currency
Options
Foreign
Exchange
USD/MXN,
Counterparty
BZWS,
November
Strike
Price
18.40
MXN,
Expires
11/01/23
.
1
19,341,000
73,673
73,673
Puts
-
Over-the-Counter
Currency
Options
Foreign
Exchange
USD/MXN,
Counterparty
BZWS,
February
Strike
Price
16.04
MXN,
Expires
2/01/24
..
1
9,671,000
9,650
9,650
Total
Options
Purchased
(Cost
$178,809)
......................................
83,323
Templeton
Income
Trust
Schedule
of
Investments
(unaudited)
Templeton
Global
Total
Return
Fund
(continued)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
12
Short
Term
Investments
9.2%
a
a
Industry
Principal
Amount
*
a
Value
a
a
a
a
a
a
Foreign
Government
and
Agency
Securities
2.1%
Germany
2.1%
e,h
Germany
Treasury
Bills
,
Reg
S,
10/18/23
.....................
7,269,000
EUR
$
7,672,369
Total
Foreign
Government
and
Agency
Securities
(Cost
$7,899,830)
...............
7,672,369
Shares
Money
Market
Funds
7.1%
United
States
7.1%
i,j
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
5.019%
.........
25,348,517
25,348,517
Total
Money
Market
Funds
(Cost
$25,348,517)
..................................
25,348,517
a
a
a
a
a
Total
Short
Term
Investments
(Cost
$33,248,347
)
................................
33,020,886
a
a
a
Total
Investments
(Cost
$440,281,774)
98.5
%
...................................
$351,119,259
Options
Written
(0.0)%
†
......................................................
(100,491)
Other
Assets,
less
Liabilities
1.5%
.............................................
5,186,944
Net
Assets
100.0%
...........................................................
$356,205,712
a
a
a
a
Number
of
Contracts
Notional
Amount
#
Options
Written
(0.0)%
†
a
Puts
-
Over-the-Counter
a
Currency
Options
Foreign
Exchange
USD/MXN,
Counterparty
BZWS,
February
Strike
Price
16.76
MXN,
Expires
2/01/24
..
1
19,341,000
(100,491)
(100,491)
Total
Options
Written
(Premiums
received
$204,048)
............................
$
(100,491)
#
Notional
amount
is
the
number
of
contracts
multiplied
by
contract
size,
and
may
be
multiplied
by
the
underlying
price.
May
include
currency
units,
bushels,
shares,
pounds,
barrels
or
other
units.
Currency
units
are
stated
in
U.S.
dollars
unless
otherwise
indicated.
*
The
principal
amount
is
stated
in
U.S.
dollars
unless
otherwise
indicated.
†
Rounds
to
less
than
0.1%
of
net
assets.
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
September
30,
2023,
the
aggregate
value
of
these
securities
was
$90,895,208,
representing
25.5%
of
net
assets.
f
Defaulted
security
or
security
for
which
income
has
been
deemed
uncollectible.
g
A
supranational
organization
is
an
entity
formed
by
two
or
more
central
governments
through
international
treaties.
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.
Templeton
Income
Trust
Schedule
of
Investments
(unaudited)
Templeton
Global
Total
Return
Fund
(continued)
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
13
At
September
30,
2023,
the
Fund
had
the
following
forward
exchange
contracts
outstanding.
At
September
30,
2023,
the
Fund
had
the
following
interest
rate
swap
contracts
outstanding.
See
Abbreviations
on
page
30.
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
9,691,581
10/05/23
$
—
$
(87,495)
Indian
Rupee
......
HSBK
Sell
797,617,100
9,600,591
10/05/23
—
(3,495)
Japanese
Yen
......
MSCO
Buy
2,579,000,000
18,082,764
10/05/23
—
(818,157)
Chilean
Peso
......
JPHQ
Buy
1,980,493,553
2,414,206
10/16/23
—
(191,898)
Chilean
Peso
......
JPHQ
Sell
1,980,493,553
2,419,975
10/16/23
197,668
—
Norwegian
Krone
...
MSCO
Buy
10,876,000
1,030,900
10/27/23
—
(13,532)
Australian
Dollar
....
MSCO
Buy
12,180,000
8,105,181
10/31/23
—
(266,247)
Japanese
Yen
......
JPHQ
Buy
204,333,530
1,418,633
11/21/23
—
(39,903)
Australian
Dollar
....
DBAB
Buy
10,994,000
7,313,495
11/22/23
—
(233,066)
Australian
Dollar
....
JPHQ
Buy
10,306,000
6,856,067
11/22/23
—
(218,728)
Australian
Dollar
....
MSCO
Buy
5,930,000
3,794,577
12/11/23
27,044
—
Japanese
Yen
......
BOFA
Buy
2,067,742,560
14,304,440
12/14/23
—
(297,895)
Japanese
Yen
......
DBAB
Buy
2,664,554,060
18,445,578
12/14/23
—
(396,331)
Japanese
Yen
......
BNDP
Buy
706,082,800
4,848,730
12/20/23
—
(60,440)
Japanese
Yen
......
MSCO
Buy
2,924,000,000
20,080,900
12/20/23
—
(251,835)
South
Korean
Won
..
DBAB
Buy
51,190,000,000
38,783,829
12/20/23
—
(776,329)
Indian
Rupee
......
HSBK
Buy
797,617,100
9,558,940
1/08/24
—
(8,555)
Indian
Rupee
......
HSBK
Buy
102,214,374
1,226,062
2/12/24
—
(4,878)
Indian
Rupee
......
CITI
Buy
1,070,227,980
12,800,239
3/20/24
—
(43,736)
Mexican
Peso
......
MSCO
Buy
67,743,000
2,981,957
9/03/24
686,081
—
Mexican
Peso
......
MSCO
Sell
67,743,000
2,880,046
9/03/24
—
(787,990)
Total
Forward
Exchange
Contracts
...................................................
$910,793
$(4,500,510)
Net
unrealized
appreciation
(depreciation)
............................................
$(3,589,717)
*
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
Fixed
3.285%
.
Annual
Pay
Floating
1-day
SOFR
............
Annual
5/03/33
4,920,000
$
(422,993)
$
—
$
(422,993)
Total
Interest
Rate
Swap
Contracts
...............................
$(422,993)
$
—
$(422,993)
*
In
U.S.
dollars
unless
otherwise
indicated.
Templeton
Income
Trust
Schedule
of
Investments
(unaudited),
September
30,
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
71.2%
Australia
9.7%
New
South
Wales
Treasury
Corp.
,
Senior
Bond,
2%,
3/08/33
........
1,785,000
AUD
$
888,598
a
Senior
Bond,
Reg
S,
1.75%,
3/20/34
231,000
AUD
108,204
Queensland
Treasury
Corp.
,
Senior
Bond,
2%,
8/22/33
........
1,090,000
AUD
538,336
a
Senior
Bond,
144A,
Reg
S,
1.75%,
7/20/34
......................
841,000
AUD
391,738
Treasury
Corp.
of
Victoria
,
a
Senior
Bond,
Reg
S,
2.25%,
9/15/33
1,294,000
AUD
647,481
Senior
Bond,
2.25%,
11/20/34
.....
527,000
AUD
254,131
2,828,488
Brazil
7.4%
Brazil
Notas
do
Tesouro
Nacional
,
10%,
1/01/27
..................
8,200,000
BRL
1,597,985
10%,
1/01/31
..................
940,000
BRL
174,359
F,
10%,
1/01/29
................
2,040,000
BRL
386,918
2,159,262
Colombia
6.2%
Colombia
Titulos
de
Tesoreria
,
B,
7.5%,
8/26/26
...............
3,964,000,000
COP
894,167
B,
6%,
4/28/28
.................
81,000,000
COP
16,389
B,
7.75%,
9/18/30
..............
399,000,000
COP
81,727
B,
7%,
3/26/31
.................
142,000,000
COP
27,300
B,
7%,
6/30/32
.................
670,000,000
COP
123,935
B,
13.25%,
2/09/33
.............
357,000,000
COP
94,582
B,
7.25%,
10/18/34
.............
608,000,000
COP
108,523
B,
6.25%,
7/09/36
..............
290,000,000
COP
45,693
B,
9.25%,
5/28/42
..............
2,152,000,000
COP
419,754
1,812,070
Germany
3.1%
a
Bundesobligation,
Reg
S,
10/18/24
...
213,000
EUR
217,190
a
Bundesrepublik
Deutschland,
Reg
S,
6.25%,
1/04/24
................
209,000
EUR
222,501
a
Bundesschatzanweisungen,
Reg
S,
0.4%,
9/13/24
.................
463,000
EUR
475,153
914,844
Ghana
1.3%
b
Ghana
Government
Bond
,
PIK,
5%,
2/16/27
...............
635,351
GHS
34,095
PIK,
8.5%,
2/15/28
..............
1,007,764
GHS
47,677
PIK,
8.65%,
2/13/29
.............
1,004,979
GHS
42,367
PIK,
8.8%,
2/12/30
..............
1,005,719
GHS
38,238
PIK,
8.95%,
2/11/31
.............
900,129
GHS
32,062
PIK,
9.1%,
2/10/32
..............
900,791
GHS
30,496
PIK,
9.25%,
2/08/33
.............
901,453
GHS
29,371
PIK,
9.4%,
2/07/34
..............
852,519
GHS
27,017
PIK,
9.55%,
2/06/35
.............
853,145
GHS
26,529
PIK,
9.7%,
2/05/36
..............
853,770
GHS
26,236
PIK,
9.85%,
2/03/37
.............
854,396
GHS
26,093
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)
Ghana
(continued)
b
Ghana
Government
Bond,
(continued)
PIK,
10%,
2/02/38
..............
855,022
GHS
$
26,068
386,249
India
4.7%
India
Government
Bond
,
Senior
Bond,
7.26%,
8/22/32
......
18,000,000
INR
216,776
Senior
Note,
7.1%,
4/18/29
.......
95,800,000
INR
1,146,116
1,362,892
Indonesia
9.7%
Indonesia
Government
Bond
,
FR68,
8.375%,
3/15/34
..........
6,948,000,000
IDR
501,605
FR87,
6.5%,
2/15/31
............
1,153,000,000
IDR
73,257
FR91,
6.375%,
4/15/32
..........
3,237,000,000
IDR
204,523
FR96,
7%,
2/15/33
..............
31,407,000,000
IDR
2,049,350
2,828,735
Malaysia
8.2%
Malaysia
Government
Bond
,
3.478%,
6/14/24
................
410,000
MYR
87,461
4.181%,
7/15/24
................
680,000
MYR
145,626
4.059%,
9/30/24
................
770,000
MYR
164,928
3.882%,
3/14/25
................
1,180,000
MYR
253,118
3.955%,
9/15/25
................
150,000
MYR
32,195
3.9%,
11/30/26
.................
1,480,000
MYR
317,733
3.892%,
3/15/27
................
130,000
MYR
27,865
3.502%,
5/31/27
................
200,000
MYR
42,274
3.899%,
11/16/27
...............
4,520,000
MYR
970,371
3.733%,
6/15/28
................
340,000
MYR
72,260
4.498%,
4/15/30
................
510,000
MYR
112,462
3.582%,
7/15/32
................
870,000
MYR
179,289
2,405,582
Mexico
10.0%
Mexican
Bonos
,
M,
10%,
11/20/36
...............
1,000,000
MXN
57,644
M,
Senior
Bond,
7.75%,
11/23/34
...
3,060,000
MXN
149,756
Mexican
Bonos
Desarr
Fixed
Rate
,
M,
7.75%,
5/29/31
..............
30,290,000
MXN
1,531,604
M,
7.5%,
5/26/33
...............
15,970,000
MXN
778,813
M,
Senior
Bond,
8.5%,
5/31/29
.....
2,500,000
MXN
134,219
M,
Senior
Bond,
8.5%,
11/18/38
....
1,830,000
MXN
92,609
M,
Senior
Bond,
7.75%,
11/13/42
...
3,940,000
MXN
182,192
2,926,837
Panama
1.9%
Panama
Government
Bond,
Senior
Bond,
6.4%,
2/14/35
............
580,000
563,488
Singapore
1.0%
Singapore
Government
Bond,
2.625%,
8/01/32
......................
432,000
SGD
297,975
Templeton
Income
Trust
Schedule
of
Investments
(unaudited)
Templeton
International
Bond
Fund
(continued)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
16
a
a
Industry
Principal
Amount
*
a
Value
a
a
a
a
a
a
Foreign
Government
and
Agency
Securities
(continued)
South
Korea
4.7%
Korea
Treasury
Bonds,
1.875%,
6/10/26
1,933,220,000
KRW
$
1,356,527
Thailand
3.3%
Thailand
Government
Bond
,
0.75%,
9/17/24
................
19,320,000
THB
519,455
1%,
6/17/27
...................
14,770,000
THB
379,473
Senior
Note,
0.66%,
11/22/23
......
1,900,000
THB
51,788
950,716
Total
Foreign
Government
and
Agency
Securities
(Cost
$22,543,139)
..............
20,793,665
Number
of
Contracts
Notional
Amount
#
a
a
aa
Options
Purchased
0.0%
†
Calls
-
Over-the-Counter
Currency
Options
Foreign
Exchange
USD/MXN,
Counterparty
BZWS,
November
Strike
Price
18.40
MXN,
Expires
11/01/23
.
1
1,582,000
6,026
Foreign
Exchange
USD/MXN,
Counterparty
BZWS,
November
Strike
Price
18.40
MXN,
Expires
11/01/23
.
1
1,700,000
6,476
12,502
Puts
-
Over-the-Counter
Currency
Options
Foreign
Exchange
USD/MXN,
Counterparty
BZWS,
February
Strike
Price
16.04
MXN,
Expires
2/01/24
..
1
791,000
789
Foreign
Exchange
USD/MXN,
Counterparty
BZWS,
February
Strike
Price
16.04
MXN,
Expires
2/01/24
..
1
850,000
848
1,637
Total
Options
Purchased
(Cost
$25,480)
........................................
14,139
Short
Term
Investments
28.3%
a
a
Industry
Principal
Amount
*
a
Value
a
a
a
a
a
a
Foreign
Government
and
Agency
Securities
7.6%
Germany
1.6%
a,c
Germany
Treasury
Bills
,
Reg
S,
10/18/23
.....................
431,000
EUR
454,917
Japan
6.0%
c
Japan
Treasury
Bills
,
2/20/24
......................
83,700,000
JPY
560,468
6/20/24
......................
11,000,000
JPY
73,671
Templeton
Income
Trust
Schedule
of
Investments
(unaudited)
Templeton
International
Bond
Fund
(continued)
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
17
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)
c
Japan
Treasury
Bills,
(continued)
7/22/24
......................
166,200,000
JPY
$
1,113,080
1,747,219
Total
Foreign
Government
and
Agency
Securities
(Cost
$2,267,439)
...............
2,202,136
Shares
Money
Market
Funds
20.7%
United
States
20.7%
d,e
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
5.019%
.........
6,048,556
6,048,556
Total
Money
Market
Funds
(Cost
$6,048,556)
...................................
6,048,556
a
a
a
a
a
Total
Short
Term
Investments
(Cost
$8,315,995
)
.................................
8,250,692
a
a
a
Total
Investments
(Cost
$30,884,614)
99.5%
....................................
$29,058,496
Options
Written
(0.1)%
.......................................................
(17,052)
Other
Assets,
less
Liabilities
0.6%
.............................................
154,822
Net
Assets
100.0%
...........................................................
$29,196,266
a
a
a
a
Number
of
Contracts
Notional
Amount
#
Options
Written
(0.1)%
a
Puts
-
Over-the-Counter
a
Currency
Options
Foreign
Exchange
USD/MXN,
Counterparty
BZWS,
February
Strike
Price
16.76
MXN,
Expires
2/01/24
..
1
1,582,000
(8,220)
Foreign
Exchange
USD/MXN,
Counterparty
BZWS,
February
Strike
Price
16.76
MXN,
Expires
2/01/24
..
1
1,700,000
(8,832)
(17,052)
Total
Options
Written
(Premiums
received
$43,278)
.............................
$
(17,052)
#
Notional
amount
is
the
number
of
contracts
multiplied
by
contract
size,
and
may
be
multiplied
by
the
underlying
price.
May
include
currency
units,
bushels,
shares,
pounds,
barrels
or
other
units.
Currency
units
are
stated
in
U.S.
dollars
unless
otherwise
indicated.
*
The
principal
amount
is
stated
in
U.S.
dollars
unless
otherwise
indicated.
†
Rounds
to
less
than
0.1%
of
net
assets.
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
September
30,
2023,
the
aggregate
value
of
these
securities
was
$2,517,184,
representing
8.6%
of
net
assets.
b
Income
may
be
received
in
additional
securities
and/or
cash.
c
The
security
was
issued
on
a
discount
basis
with
no
stated
coupon
rate.
d
See
Note
4
regarding
investments
in
affiliated
management
investment
companies.
e
The
rate
shown
is
the
annualized
seven-day
effective
yield
at
period
end.
Templeton
Income
Trust
Schedule
of
Investments
(unaudited)
Templeton
International
Bond
Fund
(continued)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
18
At
September
30,
2023,
the
Fund
had
the
following
forward
exchange
contracts
outstanding.
See
Abbreviations
on
page
30
.
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
......
JPHQ
Buy
40,526,500
492,358
10/10/23
$
—
$
(4,597)
Chilean
Peso
......
JPHQ
Buy
182,999,365
223,075
10/16/23
—
(17,732)
Chilean
Peso
......
JPHQ
Sell
182,999,365
223,608
10/16/23
18,265
—
Australian
Dollar
....
CITI
Buy
245,000
164,314
11/08/23
—
(6,594)
Australian
Dollar
....
DBAB
Buy
245,000
164,265
11/08/23
—
(6,545)
Japanese
Yen
......
JPHQ
Buy
49,897,780
346,427
11/21/23
—
(9,744)
Australian
Dollar
....
DBAB
Buy
521,000
346,583
11/22/23
—
(11,045)
Australian
Dollar
....
JPHQ
Buy
489,000
325,307
11/22/23
—
(10,378)
Norwegian
Krone
...
CITI
Buy
13,133,000
1,227,775
12/11/23
2,249
—
Norwegian
Krone
...
DBAB
Buy
1,192,000
111,578
12/11/23
63
—
Japanese
Yen
......
BOFA
Buy
169,013,600
1,169,220
12/14/23
—
(24,349)
Japanese
Yen
......
DBAB
Buy
219,993,550
1,522,922
12/14/23
—
(32,722)
Japanese
Yen
......
GSCO
Buy
146,000,000
1,074,082
12/15/23
—
(84,916)
Japanese
Yen
......
BNDP
Buy
47,525,120
326,359
12/20/23
—
(4,068)
Japanese
Yen
......
GSCO
Buy
223,900,000
1,525,017
12/20/23
—
(6,643)
South
Korean
Won
..
HSBK
Buy
1,140,700,000
863,709
12/20/23
—
(16,763)
Indian
Rupee
......
CITI
Buy
52,990,400
633,781
3/20/24
—
(2,165)
New
Zealand
Dollar
.
CITI
Buy
1,670,000
990,624
3/20/24
10,051
—
Singapore
Dollar
....
CITI
Buy
1,850,000
1,373,422
3/20/24
—
(9,005)
South
Korean
Won
..
HSBK
Buy
1,541,000,000
1,163,370
3/20/24
—
(12,584)
Japanese
Yen
......
BOFA
Buy
95,569,950
669,914
3/21/24
—
(11,896)
Total
Forward
Exchange
Contracts
...................................................
$30,628
$(271,746)
Net
unrealized
appreciation
(depreciation)
............................................
$(241,118)
*
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),
September
30,
2023
Templeton
Sustainable
Emerging
Markets
Bond
Fund
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
19
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
3.4%
Costa
Rica
3.4%
a,c
Reventazon
Finance
Trust
,
Senior
Secured
Bond
,
144A,
8
%
,
11/15/33
.
Financial
Services
464,580
440,185
South
Africa
0.0%
a,d,e
K2016470219
South
Africa
Ltd.
,
Senior
Secured
Note,
144A,
PIK,
3%,
12/31/22
.....................
Broadline
Retail
188,190
—
Senior
Secured
Note,
144A,
PIK,
8%,
12/31/22
.....................
Broadline
Retail
55,416
EUR
—
a,d,e
K2016470260
South
Africa
Ltd.
,
Senior
Secured
Note
,
144A,
PIK,
25
%
,
12/31/22
.....................
Broadline
Retail
237,804
—
—
Total
Corporate
Bonds
(Cost
$765,615)
........................................
440,185
a
a
Industry
Principal
Amount
*
a
Value
Foreign
Government
and
Agency
Securities
91.5%
Brazil
9.4%
Brazil
Notas
do
Tesouro
Nacional
,
10%,
1/01/27
..................
630,000
BRL
122,772
10%,
1/01/31
..................
2,176,000
BRL
403,623
10%,
1/01/33
..................
2,442,000
BRL
443,878
F,
10%,
1/01/29
................
1,362,000
BRL
258,325
1,228,598
Colombia
9.5%
Colombia
Government
Bond,
Senior
Bond,
9.85%,
6/28/27
............
13,000,000
COP
2,998
Colombia
Titulos
de
Tesoreria
,
B,
7.75%,
9/18/30
..............
1,073,500,000
COP
219,884
B,
7%,
3/26/31
.................
4,001,400,000
COP
769,275
B,
7%,
6/30/32
.................
107,000,000
COP
19,793
B,
13.25%,
2/09/33
.............
260,000,000
COP
68,884
B,
7.25%,
10/18/34
.............
257,000,000
COP
45,872
B,
6.25%,
7/09/36
..............
64,000,000
COP
10,084
B,
9.25%,
5/28/42
..............
580,000,000
COP
113,131
1,249,921
Czech
Republic
3.4%
Czech
Republic
Government
Bond,
1.75%,
6/23/32
................
13,100,000
CZK
450,421
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)
Dominican
Republic
2.4%
e
Dominican
Republic
Government
Bond,
Senior
Bond,
144A,
5.875%,
1/30/60
441,000
$
317,225
Ecuador
5.4%
e
Ecuador
Government
Bond
,
Senior
Bond,
144A,
3.5%,
7/31/35
..
1,199,500
448,991
Senior
Note,
144A,
6%,
7/31/30
....
491,000
251,952
700,943
Egypt
2.3%
e
Egypt
Government
Bond,
Senior
Note,
144A,
5.25%,
10/06/25
...........
390,000
301,004
Ghana
1.7%
d
Ghana
Government
Bond
,
PIK,
5%,
2/16/27
...............
794,130
GHS
42,616
PIK,
8.5%,
2/15/28
..............
794,716
GHS
37,598
PIK,
8.65%,
2/13/29
.............
745,842
GHS
31,442
PIK,
8.8%,
2/12/30
..............
746,392
GHS
28,378
PIK,
8.95%,
2/11/31
.............
740,996
GHS
26,394
PIK,
9.1%,
2/10/32
..............
741,541
GHS
25,104
PIK,
9.25%,
2/08/33
.............
742,086
GHS
24,179
PIK,
9.4%,
2/07/34
..............
47,664
GHS
1,511
PIK,
9.55%,
2/06/35
.............
47,699
GHS
1,483
PIK,
9.7%,
2/05/36
..............
47,733
GHS
1,467
PIK,
9.85%,
2/03/37
.............
47,768
GHS
1,459
PIK,
10%,
2/02/38
..............
47,803
GHS
1,457
223,088
India
2.6%
India
Government
Bond,
Senior
Bond,
7.29%,
1/27/33
................
27,570,000
INR
335,074
Indonesia
9.0%
Indonesia
Government
Bond
,
FR68,
8.375%,
3/15/34
..........
4,776,000,000
IDR
344,799
FR87,
6.5%,
2/15/31
............
792,000,000
IDR
50,321
FR91,
6.375%,
4/15/32
..........
867,000,000
IDR
54,779
FR95,
6.375%,
8/15/28
..........
4,200,000,000
IDR
270,284
FR96,
7%,
2/15/33
..............
6,920,000,000
IDR
451,539
1,171,722
Malaysia
4.7%
Malaysia
Government
Bond
,
4.059%,
9/30/24
................
290,000
MYR
62,116
3.899%,
11/16/27
...............
1,940,000
MYR
416,487
4.498%,
4/15/30
................
630,000
MYR
138,923
617,526
Mexico
2.7%
Mexican
Bonos
Desarr
Fixed
Rate,
M,
7.5%,
5/26/33
.................
7,370,000
MXN
359,414
Oman
2.0%
e
Oman
Government
Bond,
Senior
Bond,
144A,
7%,
1/25/51
..............
275,000
259,984
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
a
a
Industry
Principal
Amount
*
a
Value
a
a
a
a
a
a
Foreign
Government
and
Agency
Securities
(continued)
Romania
4.6%
e
Romania
Government
Bond
,
144A,
1.75%,
7/13/30
............
50,000
EUR
$
40,122
144A,
2.75%,
4/14/41
............
510,000
EUR
318,181
144A,
2.875%,
4/13/42
...........
400,000
EUR
249,829
608,132
Serbia
2.8%
Serbia
Treasury
Bonds,
4.5%,
8/20/32
.
44,700,000
RSD
363,679
Seychelles
1.4%
e
Seychelles
International
Bond,
Senior
Bond,
Reg
S,
8%,
1/01/26
........
175,000
179,375
Singapore
4.3%
Singapore
Government
Bond
,
2.625%,
8/01/32
................
368,000
SGD
253,830
e
Senior
Bond,
Reg
S,
3%,
8/01/72
...
434,000
SGD
314,909
568,739
South
Korea
4.6%
Korea
Treasury
Bonds
,
1.875%,
6/10/26
................
96,500,000
KRW
67,714
f
3.25%,
3/10/28
................
589,700,000
KRW
424,582
f
3.5%,
9/10/28
.................
160,000,000
KRW
115,907
608,203
Supranational
12.3%
g
European
Bank
for
Reconstruction
&
Development
,
Senior
Note,
0.84%,
6/26/24
......
250,000,000
HUF
633,749
Senior
Note,
4.95%,
1/22/26
......
57,400,000
INR
655,121
g
International
Bank
for
Reconstruction
&
Development,
Senior
Bond,
7.07%,
6/26/29
......................
6,500,000
MXN
321,261
1,610,131
Thailand
1.2%
Thailand
Government
Bond
,
0.75%,
9/17/24
................
380,000
THB
10,217
1%,
6/17/27
...................
250,000
THB
6,423
Senior
Note,
0.66%,
11/22/23
......
3,930,000
THB
107,120
Senior
Note,
2.35%,
6/17/26
......
90,000
THB
2,442
Senior
Note,
2.65%,
6/17/28
......
1,230,000
THB
33,355
159,557
Uruguay
5.2%
h
Uruguay
Government
Bond,
Index
Linked,
Senior
Bond,
3.875%,
7/02/40
24,586,139
UYU
675,971
Total
Foreign
Government
and
Agency
Securities
(Cost
$13,034,490)
..............
11,988,707
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
a
a
Industry
Shares
a
Value
a
a
a
a
a
a
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
$13,815,103)
................................
12,428,892
Short
Term
Investments
4.2%
a
a
Industry
Shares
a
Value
a
a
a
a
a
a
Money
Market
Funds
4.2%
United
States
4.2%
i,j
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
5.019%
.........
556,541
556,541
Total
Money
Market
Funds
(Cost
$556,541)
.....................................
556,541
a
a
a
a
a
Total
Short
Term
Investments
(Cost
$556,541
)
..................................
556,541
a
a
a
Total
Investments
(Cost
$14,371,644)
99.1%
....................................
$12,985,433
Other
Assets,
less
Liabilities
0.9%
.............................................
110,982
Net
Assets
100.0%
...........................................................
$13,096,415
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
September
30,
2023,
the
aggregate
value
of
these
securities
was
$2,681,572,
representing
20.5%
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.
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.
Templeton
Income
Trust
Schedule
of
Investments
(unaudited)
Templeton
Sustainable
Emerging
Markets
Bond
Fund
(continued)
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
23
At
September
30,
2023,
the
Fund
had
the
following
forward
exchange
contracts
outstanding.
See
Abbreviations
on
page
30
.
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
Brazilian
Real
......
MSCO
Buy
1,570,000
320,952
10/03/23
$
—
$
(8,620)
Brazilian
Real
......
MSCO
Sell
1,570,000
310,461
10/03/23
—
(1,871)
Indian
Rupee
......
HSBK
Buy
32,799,900
398,541
10/05/23
—
(3,598)
Indian
Rupee
......
HSBK
Sell
32,799,900
394,118
10/05/23
—
(825)
Indian
Rupee
......
JPHQ
Buy
12,453,500
151,298
10/10/23
—
(1,413)
Columbian
Peso
....
GSCO
Buy
370,000,000
72,810
10/12/23
17,638
—
Columbian
Peso
....
MSCO
Buy
3,036,000,000
652,721
10/12/23
89,436
—
Columbian
Peso
....
MSCO
Sell
915,000,000
213,835
10/12/23
—
(9,839)
Uruguayan
Peso
....
CITI
Buy
2,800,000
73,203
11/06/23
—
(535)
Brazilian
Real
......
MSCO
Buy
1,570,000
308,012
12/04/23
1,775
—
Indian
Rupee
......
JPHQ
Buy
971,100
11,649
12/20/23
—
(9)
Indian
Rupee
......
HSBK
Buy
5,080,900
60,891
1/08/24
—
(54)
Mexican
Peso
......
HSBK
Sell
6,360,000
360,980
2/06/24
3,938
—
Thai
Baht
.........
HSBK
Buy
29,710,000
868,008
2/07/24
—
(46,447)
Malaysian
Ringgit
...
GSCO
Buy
1,220,000
270,061
2/15/24
—
(7,240)
Indian
Rupee
......
CITI
Buy
12,814,700
153,267
3/20/24
—
(524)
Singapore
Dollar
....
CITI
Buy
600,000
445,434
3/20/24
—
(2,921)
Total
Forward
Exchange
Contracts
...................................................
$112,787
$(83,896)
Net
unrealized
appreciation
(depreciation)
............................................
$28,891
*
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
Notes
to
Schedules
of
Investments
(unaudited)
24
Quarterly
Schedules
of
Investments
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)
25
Quarterly
Schedules
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
September
30,
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
September
30,
2023,
investments
in
affiliated
management
investment
companies
were
as
follows: 
Shares
Issuer
Acquisition
Date
Cost
Value
Templeton
Global
Total
Return
Fund
434,200,485
a
K2016470219
South
Africa
Ltd.,
A
...............
2/22/11
-
2/01/17
$
1,608,225
$
—
50,014,925
a
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
—
464,580
Reventazon
Finance
Trust,
Senior
Secured
Bond,
144A,
8%,
11/15/33
..............................
12/18/13
464,580
440,185
Total
Restricted
Securities
(Value
is
3.4%
of
Net
Assets)
..............
$479,578
$440,185
*
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
September
30,
2023.
2. Financial
Instrument
Valuation
(continued)
Templeton
Income
Trust
Notes
to
Schedules
of
Investments
(unaudited)
26
Quarterly
Schedules
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,
5.019%
$428,932,984
$2,308,148,083
$(2,593,659,907)
$—
$—
$143,421,160
143,421,160
$10,180,881
Total
Affiliated
Securities
...
$428,932,984
$2,308,148,083
$(2,593,659,907)
$—
$—
$143,421,160
$10,180,881
Templeton
Global
Total
Return
Fund
Non-Controlled
Affiliates
Dividends
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
5.019%
$36,021,294
$239,809,561
$(250,482,338)
$—
$—
$25,348,517
25,348,517
$927,429
Total
Affiliated
Securities
...
$36,021,294
$239,809,561
$(250,482,338)
$—
$—
$25,348,517
$927,429
Templeton
International
Bond
Fund
Non-Controlled
Affiliates
Dividends
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
5.019%
$10,620,409
$14,550,296
$(19,122,149)
$—
$—
$6,048,556
6,048,556
$284,410
Total
Affiliated
Securities
...
$10,620,409
$14,550,296
$(19,122,149)
$—
$—
$6,048,556
$284,410
Templeton
Sustainable
Emerging
Markets
Bond
Fund
Non-Controlled
Affiliates
Dividends
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
5.019%
$706,837
$6,146,302
$(6,296,598)
$—
$—
$556,541
556,541
$41,232
Total
Affiliated
Securities
...
$706,837
$6,146,302
$(6,296,598)
$—
$—
$556,541
$41,232
4.
Investments
in
Affiliated
Management
Investment
Companies 
(continued)
Templeton
Income
Trust
Notes
to
Schedules
of
Investments
(unaudited)
27
Quarterly
Schedules
of
Investments
The
input
levels
are
not
necessarily
an
indication
of
the
risk
or
liquidity
associated
with
financial
instruments
at
that
level. 
A
summary
of
inputs
used
as
of
September
30,
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
....
$
—
$
3,624,951,793
$
—
$
3,624,951,793
U.S.
Government
and
Agency
Securities
.......
—
431,877,664
—
431,877,664
Options
purchased
.......................
—
951,239
—
951,239
Short
Term
Investments
...................
143,421,160
330,183,907
—
473,605,067
Total
Investments
in
Securities
...........
$143,421,160
$4,387,964,603
$—
$4,531,385,763
Other
Financial
Instruments:
Forward
exchange
contracts
...............
$
—
$
14,320,128
$
—
$
14,320,128
Total
Other
Financial
Instruments
.........
$—
$14,320,128
$—
$14,320,128
Liabilities:
Other
Financial
Instruments:
Options
written
..........................
$
—
$
1,147,243
$
—
$
1,147,243
Forward
exchange
contracts
................
—
44,371,880
—
44,371,880
Swap
contracts
..........................
—
29,017,567
—
29,017,567
Total
Other
Financial
Instruments
.........
$—
$74,536,690
$—
$74,536,690
Templeton
Global
Total
Return
Fund
Assets:
Investments
in
Securities:
a
Common
Stocks
........................
—
—
—
b
—
Corporate
Bonds
........................
—
—
—
b
—
Foreign
Government
and
Agency
Securities
....
—
296,216,484
—
296,216,484
U.S.
Government
and
Agency
Securities
.......
—
21,798,566
—
21,798,566
Escrows
and
Litigation
Trusts
...............
—
—
—
b
—
Options
purchased
.......................
—
83,323
—
83,323
Short
Term
Investments
...................
25,348,517
7,672,369
—
33,020,886
Total
Investments
in
Securities
...........
$25,348,517
$325,770,742
$—
$351,119,259
Other
Financial
Instruments:
Forward
exchange
contracts
...............
$
—
$
910,793
$
—
$
910,793
Total
Other
Financial
Instruments
.........
$—
$910,793
$—
$910,793
Liabilities:
Other
Financial
Instruments:
Options
written
..........................
$
—
$
100,491
$
—
$
100,491
Forward
exchange
contracts
................
—
4,500,510
—
4,500,510
Swap
contracts
..........................
—
422,993
—
422,993
Total
Other
Financial
Instruments
.........
$—
$5,023,994
$—
$5,023,994
Templeton
International
Bond
Fund
Assets:
Investments
in
Securities:
a
Foreign
Government
and
Agency
Securities
....
—
20,793,665
—
20,793,665
Options
purchased
.......................
—
14,139
—
14,139
Short
Term
Investments
...................
6,048,556
2,202,136
—
8,250,692
Total
Investments
in
Securities
...........
$6,048,556
$23,009,940
$—
$29,058,496
Other
Financial
Instruments:
Forward
exchange
contracts
...............
$
—
$
30,628
$
—
$
30,628
Total
Other
Financial
Instruments
.........
$—
$30,628
$—
$30,628
5. Fair
Value
Measurements 
(continued)
Templeton
Income
Trust
Notes
to
Schedules
of
Investments
(unaudited)
28
Quarterly
Schedules
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 September
30,
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
September
30,
2023,
are
as
follows:
Level
1
Level
2
Level
3
Total
Templeton
International
Bond
Fund
(continued)
Liabilities:
Other
Financial
Instruments:
Options
written
..........................
$
—
$
17,052
$
—
$
17,052
Forward
exchange
contracts
................
—
271,746
—
271,746
Total
Other
Financial
Instruments
.........
$—
$288,798
$—
$288,798
Templeton
Sustainable
Emerging
Markets
Bond
Fund
Assets:
Investments
in
Securities:
a
Common
Stocks
........................
—
—
—
b
—
Corporate
Bonds
........................
—
—
440,185
b
440,185
Foreign
Government
and
Agency
Securities
....
—
11,988,707
—
11,988,707
Escrows
and
Litigation
Trusts
...............
—
—
—
b
—
Short
Term
Investments
...................
556,541
—
—
556,541
Total
Investments
in
Securities
...........
$556,541
$11,988,707
$440,185
$12,985,433
Other
Financial
Instruments:
Forward
exchange
contracts
...............
$
—
$
112,787
$
—
$
112,787
Total
Other
Financial
Instruments
.........
$—
$112,787
$—
$112,787
Liabilities:
Other
Financial
Instruments:
Forward
exchange
contracts
................
$
—
$
83,896
$
—
$
83,896
Total
Other
Financial
Instruments
.........
$—
$83,896
$—
$83,896
a
For
detailed
categories,
see
the
accompanying
Schedule
of
Investments.
b
Includes
financial
instruments
determined
to
have
no
value.
Balance
at
Beginning
of
Period
Purchases
Sales
a
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
..
$
—
b
$
—
$
—
$
—
$
—
$
—
$
—
$
—
$
—
b
$
—
Corporate
Bonds
:
Costa
Rica
...
450,492
—
(13,321)
—
—
—
—
3,014
440,185
2,249
South
Africa
..
—
b
—
—
—
—
—
—
—
—
b
—
Escrows
and
Litigation
Trusts
..
—
b
—
—
—
—
—
—
—
—
b
—
Total
Investments
in
Securities
.........
$450,492
$—
$(13,321)
$—
$—
$—
$—
$3,014
$440,185
$2,249
a
Sales
include
all
sales
of
securities,
maturities,
paydowns
and
securities
tendered
in
corporate
actions.
b
Includes
financial
instruments
determined
to
have
no
value.
5. Fair
Value
Measurements 
(continued)
Templeton
Income
Trust
Notes
to
Schedules
of
Investments
(unaudited)
29
Quarterly
Schedules
of
Investments
Description
Fair
Value
at
End
of
Period
Valuation
Technique
Unobservable
Inputs
Amount
Impact
to
Fair
Value
if
Input
Increases
a
Templeton
Sustainable
Emerging
Markets
Bond
Fund
Assets:
Investments
in
Securities:
Corporate
Bonds:
Costa
Rica
.....................
$440,185
Discounted
cash
flow
Discount
rate
(
b
)
9.3%
Decrease
All
Other
.......................
—
c
Total
..........................
$440,185
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.
5. Fair
Value
Measurements 
(continued)
Templeton
Income
Trust
Notes
to
Schedules
of
Investments
(unaudited)
30
Quarterly
Schedules
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
COP
Colombian
Peso
CZK
Czech
Koruna
EUR
Euro
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
RSD
Serbian
Dinar
SGD
Singapore
Dollar
THB
Thai
Baht
USD
United
States
Dollar
UYU
Uruguayan
Peso
For
additional
information
on
the
Funds'
significant
accounting
policies,
please
refer
to
the Funds'
most
recent
semiannual
or
annual
shareholder
report.