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

9

Templeton

International

Bond

Fund

17

Templeton

Sustainable

Emerging

Markets

Bond

Fund

23

Notes

to

Schedules

of

Investments

28

Templeton

Income

Trust

Schedule

of

Investments

(unaudited),

September

30,

2024

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

80.7%

Australia

13.3%

New

South

Wales

Treasury

Corp.

,

Senior

Bond

,

2

%

,

3/08/33

........

208,309,000

AUD

$

118,191,011

a

Senior

Bond

,

Reg

S,

1.75

%

,

3/20/34

94,524,000

AUD

50,610,447

Queensland

Treasury

Corp.

,

Senior

Bond

,

2

%

,

8/22/33

........

54,445,000

AUD

30,455,610

a

Senior

Bond

,

144A,

Reg

S,

1.75

%

,

7/20/34

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

241,968,000

AUD

128,165,212

Treasury

Corp.

of

Victoria

,

Senior

Bond

,

2.25

%

,

11/20/34

.....

141,082,000

AUD

77,245,877

Senior

Bond

,

2

%

,

11/20/37

........

189,652,000

AUD

91,483,623

496,151,780

Brazil

9.6%

Brazil

Notas

do

Tesouro

Nacional

,

10

%

,

1/01/27

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

342,452,000

BRL

60,273,021

10

%

,

1/01/31

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

909,614,000

BRL

150,674,823

10

%

,

1/01/33

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

203,346,000

BRL

33,212,356

F

,

10

%

,

1/01/29

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

670,034,000

BRL

114,358,863

358,519,063

Colombia

6.5%

Colombia

Titulos

de

Tesoreria

,

B

,

7.75

%

,

9/18/30

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

213,973,300,000

COP

47,384,553

B

,

7

%

,

3/26/31

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

110,158,200,000

COP

23,221,716

B

,

7

%

,

6/30/32

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

107,691,000,000

COP

21,920,318

B

,

13.25

%

,

2/09/33

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

248,870,000,000

COP

70,226,977

B

,

7.25

%

,

10/18/34

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

148,699,000,000

COP

29,335,197

B

,

6.25

%

,

7/09/36

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

41,872,000,000

COP

7,298,185

B

,

9.25

%

,

5/28/42

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

206,416,000,000

COP

43,304,894

242,691,840

Egypt

0.2%

a

Egypt

Government

Bond

,

Senior

Bond

,

144A,

8.5

%

,

1/31/47

..

3,020,000

2,442,463

Senior

Bond

,

144A,

8.875

%

,

5/29/50

4,833,000

4,010,278

Senior

Bond

,

144A,

8.75

%

,

9/30/51

.

1,390,000

1,140,460

7,593,201

Germany

1.0%

a

Bundesobligation

,

Reg

S,

10/18/24

...

32,735,000

EUR

36,391,502

Ghana

1.2%

b

Ghana

Government

Bond

,

PIK,

8.5

%

,

2/15/28

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

187,211,321

GHS

7,487,524

PIK,

8.65

%

,

2/13/29

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

114,753,627

GHS

4,140,729

PIK,

8.8

%

,

2/12/30

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

188,040,504

GHS

6,244,732

PIK,

8.95

%

,

2/11/31

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

35,560,815

GHS

1,100,204

PIK,

9.1

%

,

2/10/32

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

167,886,340

GHS

4,925,039

PIK,

9.25

%

,

2/08/33

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

141,316,193

GHS

3,936,994

PIK,

9.4

%

,

2/07/34

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

168,627,741

GHS

4,554,721

PIK,

9.55

%

,

2/06/35

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

119,097,624

GHS

3,147,871

PIK,

9.7

%

,

2/05/36

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

141,821,321

GHS

3,695,845

PIK,

9.85

%

,

2/03/37

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

142,223,930

GHS

3,676,651

PIK,

10

%

,

2/02/38

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

142,594,085

GHS

3,673,996

46,584,306

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)

Hungary

0.1%

a

Hungary

Government

Bond

,

Senior

Bond

,

Reg

S,

1.5

%

,

11/17/50

......

3,940,000

EUR

$

2,494,917

India

6.8%

India

Government

Bond

,

7.26

%

,

1/14/29

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

4,296,000,000

INR

52,579,635

Senior

Bond

,

7.26

%

,

8/22/32

......

12,972,780,000

INR

160,249,281

Senior

Bond

,

7.18

%

,

8/14/33

......

2,615,000,000

INR

32,076,417

Senior

Note

,

7.1

%

,

4/18/29

.......

917,600,000

INR

11,133,908

256,039,241

Indonesia

4.6%

Indonesia

Government

Bond

,

FR73

,

8.75

%

,

5/15/31

...........

80,267,000,000

IDR

5,952,323

FR82

,

7

%

,

9/15/30

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

291,868,000,000

IDR

19,940,522

FR87

,

6.5

%

,

2/15/31

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

56,763,000,000

IDR

3,779,276

FR91

,

6.375

%

,

4/15/32

..........

159,351,000,000

IDR

10,492,327

FR95

,

6.375

%

,

8/15/28

..........

144,447,000,000

IDR

9,599,333

FR96

,

7

%

,

2/15/33

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

1,801,954,000,000

IDR

123,368,388

173,132,169

Israel

1.7%

a

Israel

Government

Bond

,

Senior

Bond

,

Reg

S,

1.5

%

,

1/16/29

.

59,394,000

EUR

59,961,258

Senior

Bond

,

Reg

S,

0.625

%

,

1/18/32

4,111,000

EUR

3,633,111

63,594,369

Malaysia

8.4%

Malaysia

Government

Bond

,

3.882

%

,

3/14/25

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

48,060,000

MYR

11,692,839

3.955

%

,

9/15/25

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

28,830,000

MYR

7,042,013

3.9

%

,

11/30/26

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

226,950,000

MYR

55,788,648

3.892

%

,

3/15/27

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

19,290,000

MYR

4,742,613

3.502

%

,

5/31/27

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

30,640,000

MYR

7,462,657

3.899

%

,

11/16/27

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

691,620,000

MYR

170,280,376

4.498

%

,

4/15/30

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

97,744,000

MYR

24,787,781

3.582

%

,

7/15/32

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

134,410,000

MYR

32,293,136

314,090,063

Mexico

4.2%

Mexican

Bonos

,

M

,

10

%

,

11/20/36

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

121,740,000

MXN

6,481,754

M

,

Senior

Bond

,

7.75

%

,

11/23/34

...

378,250,000

MXN

17,252,157

Mexican

Bonos

Desarr

Fixed

Rate

,

M

,

7.5

%

,

5/26/33

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

2,285,440,000

MXN

103,830,819

M

,

Senior

Bond

,

8.5

%

,

11/18/38

....

223,180,000

MXN

10,446,226

M

,

Senior

Bond

,

7.75

%

,

11/13/42

...

480,400,000

MXN

20,376,944

158,387,900

Norway

3.3%

a

Norway

Government

Bond

,

Senior

Bond

,

144A,

Reg

S,

1.75

%

,

3/13/25

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

890,910,000

NOK

83,470,713

Senior

Bond

,

144A,

Reg

S,

1.5

%

,

2/19/26

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

370,824,000

NOK

34,155,513

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

%

,

2/17/27

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

68,460,000

NOK

$

6,254,841

123,881,067

Panama

4.6%

Panama

Government

Bond

,

Senior

Bond

,

2.252

%

,

9/29/32

.....

22,130,000

17,166,236

Senior

Bond

,

3.298

%

,

1/19/33

.....

2,130,000

1,782,839

Senior

Bond

,

6.4

%

,

2/14/35

.......

71,380,000

73,081,209

Senior

Bond

,

6.875

%

,

1/31/36

.....

11,770,000

12,372,826

Senior

Bond

,

8

%

,

3/01/38

........

59,930,000

67,828,683

172,231,793

Romania

3.4%

a

Romania

Government

Bond

,

Senior

Bond

,

144A,

7.125

%

,

1/17/33

30,630,000

33,554,552

Senior

Bond

,

144A,

6.375

%

,

1/30/34

69,210,000

72,198,073

Senior

Bond

,

144A,

6

%

,

5/25/34

....

22,230,000

22,593,349

128,345,974

Serbia

0.4%

Serbia

Treasury

Bonds

,

4.5

%

,

8/20/32

.

1,617,620,000

RSD

14,743,308

South

Africa

4.2%

South

Africa

Government

Bond

,

Senior

Bond

,

8.875

%

,

2/28/35

.....

652,390,000

ZAR

34,969,171

Senior

Bond

,

8.5

%

,

1/31/37

.......

1,228,730,000

ZAR

61,780,690

Senior

Bond

,

9

%

,

1/31/40

........

1,168,600,000

ZAR

59,210,221

155,960,082

South

Korea

4.7%

Korea

Treasury

Bonds

,

3.25

%

,

3/10/28

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

6,875,990,000

KRW

5,282,757

3.5

%

,

9/10/28

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

218,715,010,000

KRW

169,765,278

175,048,035

Uruguay

2.5%

c

Uruguay

Government

Bond

,

Index

Linked,

Senior

Bond

,

3.875

%

,

7/02/40

3,773,710,715

UYU

94,354,787

Total

Foreign

Government

and

Agency

Securities

(Cost

$

3,058,201,501

)

...........

3,020,235,397

U.S.

Government

and

Agency

Securities

6.5%

United

States

6.5%

U.S.

Treasury

Bonds

,

3.375

%,

8/15/42

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

3,920,000

3,538,949

3.125

%,

2/15/43

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

18,463,000

15,981,313

3.625

%,

8/15/43

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

169,433,000

156,963,790

3.75

%,

11/15/43

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

15,349,000

14,444,848

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

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

U.S.

Government

and

Agency

Securities

(continued)

United

States

(continued)

U.S.

Treasury

Bonds,

(continued)

U.S.

Treasury

Notes

,

3.5

%,

2/15/33

...

53,358,000

$

52,438,825

243,367,725

Total

U.S.

Government

and

Agency

Securities

(Cost

$

247,139,442

)

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

243,367,725

Total

Long

Term

Investments

(Cost

$

3,305,340,943

)

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

3,263,603,122

Number

of

Contracts

Notional

Amount

#

a

a

aa

Options

Purchased

0.6%

Calls

-

Over-the-Counter

Currency

Options

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

February

Strike

Price

149.50

JPY

,

Expires

2/05/25

..

1

264,692,000

1,907,572

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

October

Strike

Price

159.00

JPY

,

Expires

10/25/24

.

1

175,879,000

4,030

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

October

Strike

Price

159.00

JPY

,

Expires

10/25/24

.

1

176,458,000

4,043

1,915,645

Puts

-

Over-the-Counter

Currency

Options

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

December

Strike

Price

135.70

JPY

,

Expires

12/16/24

.

1

176,464,000

1,271,194

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

February

Strike

Price

136.20

JPY

,

Expires

2/05/25

..

1

439,697,500

5,845,166

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

February

Strike

Price

136.20

JPY

,

Expires

2/05/25

..

1

439,697,500

5,845,166

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

December

Strike

Price

140.60

JPY

,

Expires

12/16/24

.

1

352,916,000

5,918,518

18,880,044

Total

Options

Purchased

(Cost

$

28,017,181

)

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

20,795,689

Templeton

Income

Trust

Schedule

of

Investments

(unaudited)

Templeton

Global

Bond

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

6

Short

Term

Investments

10.0%

a

a

Industry

Shares

a

Value

a

a

a

a

a

a

Money

Market

Funds

10.0%

United

States

10.0%

d,e

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio

,

4.74

%

..........

374,761,909

$

374,761,909

Total

Money

Market

Funds

(Cost

$

374,761,909

)

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

374,761,909

a

a

a

a

a

Total

Short

Term

Investments

(Cost

$

374,761,909

)

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

374,761,909

a

a

a

Total

Investments

(Cost

$

3,708,120,033

)

97.8

%

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

$3,659,160,720

Options

Written

(

0.4

)

%

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

(15,868,620)

Other

Assets,

less

Liabilities

2.6

%

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

100,195,142

Net

Assets

100.0%

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

$3,743,487,242

a

a

a

a

Number

of

Contracts

Notional

Amount

#

Options

Written

(0.4)%

a

Calls

-

Over-the-Counter

a

Currency

Options

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

February

Strike

Price

142.80

JPY

,

Expires

2/05/25

..

1

175,878,500

(

3,833,790

)

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

February

Strike

Price

145.00

JPY

,

Expires

2/05/25

..

1

88,227,000

(

1,373,616

)

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

October

Strike

Price

146.00

JPY

,

Expires

10/25/24

.

1

176,458,000

(

931,519

)

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

January

Strike

Price

146.00

JPY

,

Expires

1/27/25

..

1

176,459,000

(

2,293,866

)

(

8,432,791

)

Puts

-

Over-the-Counter

Currency

Options

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

December

Strike

Price

129.20

JPY

,

Expires

12/16/24

.

1

352,922,000

(

756,373

)

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

February

Strike

Price

130.39

JPY

,

Expires

2/05/25

..

1

439,697,500

(

2,523,331

)

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

February

Strike

Price

130.39

JPY

,

Expires

2/05/25

..

1

439,697,500

(

2,523,331

)

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

December

Strike

Price

137.10

JPY

,

Expires

12/16/24

.

1

176,458,000

(

1,632,794

)

(

7,435,829

)

Total

Options

Written

(Premiums

received

$

20,523,603

)

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

$

(

15,868,620

)

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,

2024

,

the

Fund

had

the

following

forward

exchange

contracts

outstanding.

#

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.

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,

2024,

the

aggregate

value

of

these

securities

was

$541,076,689,

representing

14.5%

of

net

assets.

b

Income

may

be

received

in

additional

securities

and/or

cash.

c

Principal

amount

of

security,

redemption

price

at

maturity,

and/or

coupon

payments

are

adjusted

for

inflation.

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.

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

2,366,957,100

28,301,035

10/03/24

$

—

$

(

51,298

)

Indian

Rupee

......

HSBK

Sell

2,366,957,100

28,262,174

10/03/24

12,437

—

Norwegian

Krone

...

MSCO

Buy

642,880,000

60,304,015

10/10/24

630,283

—

Norwegian

Krone

...

MSCO

Sell

143,380,000

13,522,305

10/10/24

—

(

67,727

)

Dinar

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

DBAB

Buy

2,081,824,379

19,528,660

10/15/24

277,865

—

Indian

Rupee

......

JPHQ

Buy

1,590,808,500

18,999,265

10/15/24

—

(

24,799

)

South

Korean

Won

..

JPHQ

Buy

16,182,300,000

11,736,936

10/15/24

539,507

—

Dinar

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

DBAB

Buy

2,035,842,264

19,137,201

10/21/24

233,295

—

Thai

Baht

.........

HSBK

Buy

1,913,553,624

53,558,185

10/24/24

5,562,853

—

Thai

Baht

.........

HSBK

Sell

1,913,553,624

54,950,855

10/24/24

—

(

4,170,183

)

Thai

Baht

.........

JPHQ

Buy

464,383,000

12,986,102

10/24/24

1,361,447

—

Thai

Baht

.........

JPHQ

Sell

464,383,000

13,282,740

10/24/24

—

(

1,064,809

)

Dinar

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

DBAB

Buy

896,483,143

8,560,355

10/29/24

—

(

29,709

)

Japanese

Yen

......

MSCO

Buy

31,721,500,000

222,475,881

10/29/24

96,373

(

969,757

)

Japanese

Yen

......

MSCO

Sell

23,941,440,000

167,884,925

10/29/24

981,124

(

348,154

)

Chilean

Peso

......

HSBK

Buy

15,512,700,000

16,194,995

11/04/24

1,060,960

—

Chilean

Peso

......

HSBK

Buy

16,280,400,000

17,441,106

11/13/24

667,828

—

Chilean

Peso

......

JPHQ

Buy

18,410,300,000

19,729,408

11/13/24

748,645

—

Japanese

Yen

......

MSCO

Buy

22,397,100,000

145,203,765

11/21/24

11,690,585

—

Japanese

Yen

......

MSCO

Sell

22,397,100,000

156,089,487

11/21/24

307,731

(

1,112,594

)

Mexican

Peso

......

HSBK

Buy

990,250,111

50,675,291

11/22/24

—

(

787,687

)

Mexican

Peso

......

BNDP

Buy

903,398,478

45,528,365

11/26/24

43,662

(

87,713

)

Mexican

Peso

......

HSBK

Buy

901,825,553

45,712,247

11/26/24

—

(

307,126

)

Dinar

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

DBAB

Buy

2,253,654,000

21,315,459

12/10/24

147,224

—

Chilean

Peso

......

JPHQ

Buy

24,185,600,000

25,856,443

12/16/24

1,038,403

—

Dinar

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

DBAB

Buy

1,909,460,242

18,142,795

12/18/24

43,324

—

Indian

Rupee

......

CITI

Buy

1,596,806,500

18,953,193

12/18/24

29,973

—

Indian

Rupee

......

JPHQ

Buy

966,869,900

11,504,877

12/18/24

—

(

10,528

)

New

Zealand

Dollar

.

BOFA

Buy

4,880,000

3,004,494

12/18/24

95,671

—

New

Zealand

Dollar

.

JPHQ

Buy

175,070,000

107,754,710

12/18/24

3,463,726

—

South

Korean

Won

..

DBAB

Buy

10,256,000,000

7,691,039

12/18/24

116,198

—

South

Korean

Won

..

HSBK

Buy

241,163,000,000

180,455,848

12/18/24

3,126,109

—

Indian

Rupee

......

HSBK

Buy

2,366,957,100

28,166,660

12/23/24

—

(

35,758

)

Japanese

Yen

......

BNDP

Buy

41,246,625,520

266,952,035

1/17/25

24,194,489

—

Japanese

Yen

......

DBAB

Buy

13,128,207,310

84,940,455

1/17/25

7,727,294

—

Japanese

Yen

......

DBAB

Sell

3,386,700,000

24,127,896

1/17/25

222,281

—

Japanese

Yen

......

GSCO

Buy

5,039,000,000

32,776,115

1/17/25

2,792,548

—

Japanese

Yen

......

MSCO

Buy

20,771,214,000

147,271,795

1/29/25

—

(

472,258

)

Japanese

Yen

......

MSCO

Sell

5,916,861,000

41,391,256

1/29/25

—

(

425,869

)

Templeton

Income

Trust

Schedule

of

Investments

(unaudited)

Templeton

Global

Bond

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

8

At

September

30,

2024

,

the

Fund

had

the

following interest

rate swap

contracts

outstanding.

See

Abbreviations

on

page

34

.

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)

Dinar

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

DBAB

Buy

1,097,715,000

10,417,719

3/10/25

$

49,016

$

—

Mexican

Peso

......

BNDP

Buy

328,304,649

15,882,808

3/10/25

384,292

—

Total

Forward

Exchange

Contracts

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

$67,645,143

$(9,965,969)

Net

unrealized

appreciation

(depreciation)

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

$57,679,174

*

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

231,810,000

$

(

2,147,667

)

$

—

$

(

2,147,667

)

Receive

Fixed

3.847%

.

Annual

Pay

Floating

1-day

SOFR

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

Annual

8/31/33

42,010,000

1,729,907

—

1,729,907

Total

Interest

Rate

Swap

Contracts

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

$(417,760)

$

—

$(417,760)

*

In

U.S.

dollars

unless

otherwise

indicated.

Templeton

Income

Trust

Schedule

of

Investments

(unaudited),

September

30,

2024

Templeton

Global

Total

Return

Fund

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

9

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

,f

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

,f

K2016470260

South

Africa

Ltd.

,

Senior

Secured

Note

,

144A,

PIK,

25

%

,

12/31/22

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

Broadline

Retail

19,186,470

—

—

Total

Corporate

Bonds

(Cost

$

46,940,535

)

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

—

a

a

Industry

Principal

Amount

*

a

Value

Foreign

Government

and

Agency

Securities

73.9%

Australia

2.8%

Treasury

Corp.

of

Victoria

,

Senior

Bond

,

2.25

%

,

11/20/34

.....

2,963,000

AUD

1,622,316

Senior

Bond

,

2

%

,

11/20/37

........

11,977,000

AUD

5,777,420

7,399,736

Brazil

7.6%

Brazil

Notas

do

Tesouro

Nacional

,

10

%

,

1/01/27

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

17,290,000

BRL

3,043,114

10

%

,

1/01/31

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

31,491,000

BRL

5,216,389

10

%

,

1/01/33

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

17,206,000

BRL

2,810,244

F

,

10

%

,

1/01/29

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

51,267,000

BRL

8,750,057

19,819,804

Colombia

2.3%

Colombia

Titulos

de

Tesoreria

,

B

,

9.25

%

,

5/28/42

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

28,666,000,000

COP

6,013,963

Dominican

Republic

3.0%

f

Dominican

Republic

Government

Bond

,

Senior

Bond

,

144A,

5.3

%

,

1/21/41

..

2,370,000

2,185,661

Senior

Bond

,

144A,

6.4

%

,

6/05/49

..

580,000

594,895

Senior

Bond

,

144A,

5.875

%

,

1/30/60

5,340,000

5,016,074

7,796,630

Ecuador

4.6%

f

Ecuador

Government

Bond

,

Senior

Bond

,

144A,

5.5

%

,

7/31/35

........

20,916,000

11,941,183

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)

Egypt

2.6%

Egypt

Government

Bond

,

25.151

%

,

4/16/27

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

199,700,000

EGP

$

4,060,594

f

Senior

Bond

,

144A,

8.75

%

,

9/30/51

.

1,080,000

886,113

f

Senior

Bond

,

144A,

7.5

%

,

2/16/61

..

2,370,000

1,721,235

6,667,942

Ghana

1.9%

d

Ghana

Government

Bond

,

PIK,

8.5

%

,

2/15/28

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

25,713,028

GHS

1,028,394

PIK,

8.8

%

,

2/12/30

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

25,557,541

GHS

848,753

PIK,

9.1

%

,

2/10/32

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

23,239,163

GHS

681,734

PIK,

9.25

%

,

2/08/33

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

10,626,939

GHS

296,061

PIK,

9.4

%

,

2/07/34

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

19,537,152

GHS

527,708

PIK,

9.55

%

,

2/06/35

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

8,231,996

GHS

217,580

PIK,

9.7

%

,

2/05/36

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

16,172,303

GHS

421,448

PIK,

9.85

%

,

2/03/37

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

16,216,473

GHS

419,214

PIK,

10

%

,

2/02/38

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

16,259,707

GHS

418,938

4,859,830

Hungary

5.5%

Hungary

Government

Bond

,

1

%

,

11/26/25

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

116,400,000

HUF

310,621

3

%

,

10/27/27

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

273,100,000

HUF

710,325

4.75

%

,

11/24/32

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

5,126,900,000

HUF

13,233,259

f

Senior

Bond

,

Reg

S,

1.5

%

,

11/17/50

280,000

EUR

177,304

14,431,509

India

5.7%

India

Government

Bond

,

Senior

Bond

,

7.26

%

,

8/22/32

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

1,219,000,000

INR

15,057,981

Kazakhstan

4.5%

Kazakhstan

MEOKAM

,

10.67

%

,

1/21/26

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

297,400,000

KZT

604,061

15.35

%

,

11/18/27

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

50,500,000

KZT

112,176

Kazakhstan

MEUKAM

,

9

%

,

7/03/27

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

680,900,000

KZT

1,310,036

15.3

%

,

3/03/29

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

252,400,000

KZT

571,949

10.55

%

,

7/28/29

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

315,300,000

KZT

608,842

11

%

,

2/04/30

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

41,000,000

KZT

80,446

12

%

,

3/07/30

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

983,370,000

KZT

1,995,324

12

%

,

2/22/31

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

844,030,000

KZT

1,706,911

10.3

%

,

3/17/31

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

224,900,000

KZT

421,540

14

%

,

5/12/31

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

60,600,000

KZT

134,004

Senior

Bond

,

5.49

%

,

3/27/27

......

278,100,000

KZT

498,098

Senior

Bond

,

5

%

,

4/18/28

........

494,200,000

KZT

820,508

Senior

Bond

,

5.5

%

,

9/20/28

.......

724,300,000

KZT

1,196,534

Senior

Bond

,

7.68

%

,

8/13/29

......

1,052,000,000

KZT

1,824,419

11,884,848

Malaysia

10.4%

Malaysia

Government

Bond

,

3.882

%

,

3/14/25

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

14,090,000

MYR

3,428,050

3.955

%

,

9/15/25

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

5,335,000

MYR

1,303,127

3.502

%

,

5/31/27

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

4,190,000

MYR

1,020,513

3.899

%

,

11/16/27

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

77,940,000

MYR

19,189,226

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)

Malaysia

(continued)

Malaysia

Government

Bond,

(continued)

3.885

%

,

8/15/29

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

9,526,000

MYR

$

2,350,405

27,291,321

Mexico

4.4%

Mexican

Bonos

,

M

,

10

%

,

11/20/36

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

9,610,000

MXN

511,661

M

,

Senior

Bond

,

7.75

%

,

11/23/34

...

29,910,000

MXN

1,364,209

Mexican

Bonos

Desarr

Fixed

Rate

,

M

,

7.5

%

,

5/26/33

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

158,380,000

MXN

7,195,431

M

,

Senior

Bond

,

8.5

%

,

11/18/38

....

17,630,000

MXN

825,195

M

,

Senior

Bond

,

7.75

%

,

11/13/42

...

37,940,000

MXN

1,609,286

11,505,782

Mongolia

1.8%

f

Mongolia

Government

Bond

,

Senior

Bond

,

144A,

4.45

%

,

7/07/31

.

4,370,000

3,891,796

Senior

Note

,

144A,

3.5

%

,

7/07/27

..

1,000,000

929,705

4,821,501

Norway

4.3%

f

Norway

Government

Bond

,

Senior

Bond

,

144A,

Reg

S,

1.5

%

,

2/19/26

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

98,567,000

NOK

9,078,718

Senior

Bond

,

144A,

Reg

S,

1.75

%

,

2/17/27

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

23,754,000

NOK

2,170,282

11,249,000

Panama

3.2%

Panama

Government

Bond

,

Senior

Bond

,

6.4

%

,

2/14/35

.......

1,110,000

1,136,455

Senior

Bond

,

6.7

%

,

1/26/36

.......

4,850,000

5,066,330

Senior

Bond

,

6.875

%

,

1/31/36

.....

2,150,000

2,260,117

8,462,902

South

Africa

4.4%

South

Africa

Government

Bond

,

Senior

Bond

,

8.875

%

,

2/28/35

.....

58,140,000

ZAR

3,116,399

Senior

Bond

,

8.5

%

,

1/31/37

.......

78,600,000

ZAR

3,952,017

Senior

Bond

,

9

%

,

1/31/40

........

89,270,000

ZAR

4,523,102

11,591,518

Sri

Lanka

0.9%

e

,f

Sri

Lanka

Government

Bond

,

Senior

Bond

,

144A,

6.2

%

,

5/11/27

..

3,160,000

1,775,728

Senior

Bond

,

144A,

6.75

%

,

4/18/28

.

460,000

259,851

Senior

Bond

,

144A,

7.85

%

,

3/14/29

.

659,000

372,267

2,407,846

Supranational

4.0%

g

Asian

Development

Bank

,

Senior

Note

,

11.2

%

,

1/31/25

.......

16,141,000,000

COP

3,827,494

Templeton

Income

Trust

Schedule

of

Investments

(unaudited)

Templeton

Global

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

12

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

,

10.1

%

,

1/23/26

......

27,861,000,000

COP

$

6,763,134

10,590,628

Total

Foreign

Government

and

Agency

Securities

(Cost

$

197,908,193

)

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

193,793,924

U.S.

Government

and

Agency

Securities

7.7%

United

States

7.7%

U.S.

Treasury

Bonds

,

3.375

%,

8/15/42

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

13,110,000

11,835,616

3.75

%,

11/15/43

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

8,960,000

8,432,200

20,267,816

Total

U.S.

Government

and

Agency

Securities

(Cost

$

20,406,652

)

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

20,267,816

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

$

266,900,739

)

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

214,061,740

Number

of

Contracts

Notional

Amount

#

a

a

aa

Options

Purchased

0.5%

Calls

-

Over-the-Counter

Currency

Options

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

February

Strike

Price

149.50

JPY

,

Expires

2/05/25

..

1

15,156,000

109,226

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

October

Strike

Price

159.00

JPY

,

Expires

10/25/24

.

1

10,071,000

231

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

October

Strike

Price

159.00

JPY

,

Expires

10/25/24

.

1

10,105,000

231

109,688

Puts

-

Over-the-Counter

Currency

Options

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

December

Strike

Price

135.70

JPY

,

Expires

12/16/24

.

1

10,104,000

72,786

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

February

Strike

Price

136.20

JPY

,

Expires

2/05/25

..

1

25,177,500

334,700

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

February

Strike

Price

136.20

JPY

,

Expires

2/05/25

..

1

25,177,500

334,700

Templeton

Income

Trust

Schedule

of

Investments

(unaudited)

Templeton

Global

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

13

a

a

Number

of

Contracts

Notional

Amount

#

a

Value

a

a

a

a

aa

a

a

Options

Purchased

(continued)

Puts

-

Over-the-Counter

(continued)

Currency

Options

(continued)

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

December

Strike

Price

140.60

JPY

,

Expires

12/16/24

.

1

20,210,000

$

338,928

1,081,114

Total

Options

Purchased

(Cost

$

1,604,306

)

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

1,190,802

Short

Term

Investments

12.7%

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

4.2%

Egypt

4.2%

h

Egypt

Treasury

Bills

,

3/04/25

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

254,400,000

EGP

4,709,547

3/18/25

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

347,675,000

EGP

6,373,483

11,083,030

Total

Foreign

Government

and

Agency

Securities

(Cost

$

11,245,324

)

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

11,083,030

Shares

Money

Market

Funds

8.5%

United

States

8.5%

i,j

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio

,

4.74

%

..........

22,295,336

22,295,336

Total

Money

Market

Funds

(Cost

$

22,295,336

)

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

22,295,336

a

a

a

a

a

Total

Short

Term

Investments

(Cost

$

33,540,660

)

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

33,378,366

a

a

a

Total

Investments

(Cost

$

302,045,705

)

94.8

%

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

$248,630,908

Options

Written

(

0.3

)

%

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

(908,687)

Other

Assets,

less

Liabilities

5.5

%

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

14,681,439

Net

Assets

100.0%

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

$262,403,660

a

a

a

a

Number

of

Contracts

Notional

Amount

#

Options

Written

(0.3)%

a

Calls

-

Over-the-Counter

a

Currency

Options

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

February

Strike

Price

142.80

JPY

,

Expires

2/05/25

..

1

10,070,750

(

219,522

)

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

February

Strike

Price

145.00

JPY

,

Expires

2/05/25

..

1

5,053,000

(

78,671

)

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

October

Strike

Price

146.00

JPY

,

Expires

10/25/24

.

1

10,105,000

(

53,344

)

Templeton

Income

Trust

Schedule

of

Investments

(unaudited)

Templeton

Global

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

14

a

a

a

Number

of

Contracts

Notional

Amount

#

a

Value

a

a

a

a

a

a

Options

Written

(continued)

a

Calls

-

Over-the-Counter

(continued)

a

Currency

Options

(continued)

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

January

Strike

Price

146.00

JPY

,

Expires

1/27/25

..

1

10,105,000

$

(

131,359

)

(

482,896

)

Puts

-

Over-the-Counter

Currency

Options

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

December

Strike

Price

129.20

JPY

,

Expires

12/16/24

.

1

20,209,000

(

43,312

)

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

February

Strike

Price

130.39

JPY

,

Expires

2/05/25

..

1

25,177,500

(

144,488

)

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

February

Strike

Price

130.39

JPY

,

Expires

2/05/25

..

1

25,177,500

(

144,488

)

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

December

Strike

Price

137.10

JPY

,

Expires

12/16/24

.

1

10,105,000

(

93,503

)

(

425,791

)

Total

Options

Written

(Premiums

received

$

1,175,239

)

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

$

(

908,687

)

#

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.

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

Defaulted

security

or

security

for

which

income

has

been

deemed

uncollectible.

f

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,

2024,

the

aggregate

value

of

these

securities

was

$41,000,812,

representing

15.6%

of

net

assets.

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

15

At

September

30,

2024

,

the

Fund

had

the

following

forward

exchange

contracts

outstanding.

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

318,707,100

3,810,691

10/03/24

$

—

$

(

6,907

)

Indian

Rupee

......

HSBK

Sell

318,707,100

3,805,458

10/03/24

1,675

—

Norwegian

Krone

...

MSCO

Buy

9,256,000

845,112

10/10/24

32,203

—

Indonesian

Rupiah

..

BNDP

Buy

42,669,780,000

2,629,879

10/25/24

178,518

—

Indonesian

Rupiah

..

BNDP

Sell

42,669,780,000

2,757,158

10/25/24

—

(

51,239

)

Japanese

Yen

......

MSCO

Buy

1,813,640,000

12,719,801

10/29/24

5,510

(

55,445

)

Japanese

Yen

......

MSCO

Sell

1,368,830,000

9,598,668

10/29/24

56,095

(

19,905

)

Brazilian

Real

......

JPHQ

Buy

17,958,719

3,222,682

11/04/24

71,146

—

Japanese

Yen

......

MSCO

Buy

2,924,000,000

18,956,731

11/21/24

1,526,237

—

Japanese

Yen

......

MSCO

Sell

1,461,834,000

9,905,252

11/21/24

—

(

335,069

)

Australian

Dollar

....

DBAB

Buy

5,563,000

3,729,042

11/22/24

119,458

—

Australian

Dollar

....

DBAB

Sell

3,390,000

2,298,905

11/22/24

—

(

46,307

)

Australian

Dollar

....

JPHQ

Buy

30,576,000

20,503,960

11/22/24

648,609

—

Mexican

Peso

......

HSBK

Buy

65,562,477

3,355,110

11/22/24

—

(

52,151

)

Mexican

Peso

......

BNDP

Buy

59,812,208

3,014,342

11/26/24

2,891

(

5,807

)

Mexican

Peso

......

HSBK

Buy

59,708,065

3,026,516

11/26/24

—

(

20,334

)

Australian

Dollar

....

MSCO

Buy

5,930,000

3,926,549

12/12/24

176,330

—

Indian

Rupee

......

CITI

Buy

773,827,980

9,184,902

12/18/24

14,525

—

South

Korean

Won

..

DBAB

Buy

34,543,290,000

25,904,229

12/18/24

391,366

—

Indian

Rupee

......

HSBK

Buy

318,707,100

3,792,597

12/23/24

—

(

4,815

)

Indonesian

Rupiah

..

HSBK

Buy

17,448,100,000

1,068,011

12/24/24

77,038

—

Indonesian

Rupiah

..

HSBK

Sell

17,448,100,000

1,125,103

12/24/24

—

(

19,946

)

Japanese

Yen

......

BNDP

Buy

706,082,800

4,569,834

1/17/25

414,175

—

Japanese

Yen

......

DBAB

Buy

1,374,954,060

8,896,053

1/17/25

809,301

—

Japanese

Yen

......

MSCO

Buy

1,187,565,000

8,420,058

1/29/25

—

(

27,001

)

Japanese

Yen

......

MSCO

Sell

338,294,000

2,366,528

1/29/25

—

(

24,349

)

Euro

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

BZWS

Buy

7,833,000

8,610,817

2/06/25

153,619

—

Mexican

Peso

......

BNDP

Buy

21,736,436

1,051,571

3/10/25

25,443

—

Total

Forward

Exchange

Contracts

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

$4,704,139

$(669,275)

Net

unrealized

appreciation

(depreciation)

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

$4,034,864

*

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)

Templeton

Global

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

16

At

September

30,

2024

,

the

Fund

had

the

following interest

rate swap

contracts

outstanding.

See

Abbreviations

on

page

34

.

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

11.38%

..

At

Maturity

Pay

Floating

1-day

BRL

CDI

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

At

Maturity

1/04/27

15,605,204

BRL

$

(

52,932

)

$

—

$

(

52,932

)

Receive

Fixed

3.285%

.

Annual

Pay

Floating

1-day

SOFR

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

Annual

5/03/33

4,920,000

(

45,583

)

—

(

45,583

)

Total

Interest

Rate

Swap

Contracts

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

$(98,515)

$

—

$(98,515)

*

In

U.S.

dollars

unless

otherwise

indicated.

Templeton

Income

Trust

Schedule

of

Investments

(unaudited),

September

30,

2024

Templeton

International

Bond

Fund

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

17

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

81.4%

Australia

11.4%

New

South

Wales

Treasury

Corp.

,

Senior

Bond

,

2

%

,

3/08/33

........

1,275,000

AUD

$

723,413

a

Senior

Bond

,

Reg

S,

1.75

%

,

3/20/34

231,000

AUD

123,683

Queensland

Treasury

Corp.

,

Senior

Bond

,

2

%

,

8/22/33

........

410,000

AUD

229,347

a

Senior

Bond

,

144A,

Reg

S,

1.75

%

,

7/20/34

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

841,000

AUD

445,460

Treasury

Corp.

of

Victoria

,

Senior

Bond

,

2.25

%

,

11/20/34

.....

527,000

AUD

288,546

Senior

Bond

,

2

%

,

11/20/37

........

1,447,000

AUD

697,998

2,508,447

Brazil

9.9%

Brazil

Notas

do

Tesouro

Nacional

,

10

%

,

1/01/27

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

6,450,000

BRL

1,135,228

10

%

,

1/01/31

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

3,770,000

BRL

624,489

F

,

10

%

,

1/01/29

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

2,480,000

BRL

423,277

2,182,994

Colombia

6.9%

Colombia

Titulos

de

Tesoreria

,

B

,

7.5

%

,

8/26/26

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

2,238,600,000

COP

526,046

B

,

6

%

,

4/28/28

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

81,000,000

COP

17,551

B

,

7.75

%

,

9/18/30

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

399,000,000

COP

88,359

B

,

7

%

,

3/26/31

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

142,000,000

COP

29,934

B

,

7

%

,

6/30/32

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

670,000,000

COP

136,377

B

,

13.25

%

,

2/09/33

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

357,000,000

COP

100,740

B

,

7.25

%

,

10/18/34

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

608,000,000

COP

119,946

B

,

6.25

%

,

7/09/36

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

290,000,000

COP

50,546

B

,

9.25

%

,

5/28/42

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

2,152,000,000

COP

451,477

1,520,976

Egypt

1.9%

a

Egypt

Government

Bond

,

Senior

Bond

,

144A,

8.875

%

,

5/29/50

200,000

165,954

Senior

Bond

,

144A,

8.75

%

,

9/30/51

.

300,000

246,143

412,097

Germany

1.0%

a

Bundesobligation

,

Reg

S,

10/18/24

...

194,000

EUR

215,670

Ghana

1.3%

b

Ghana

Government

Bond

,

PIK,

8.35

%

,

2/16/27

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

250,113

GHS

11,289

PIK,

8.5

%

,

2/15/28

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

1,043,343

GHS

41,729

PIK,

8.65

%

,

2/13/29

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

807,797

GHS

29,148

PIK,

8.8

%

,

2/12/30

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

1,044,298

GHS

34,681

PIK,

8.95

%

,

2/11/31

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

419,912

GHS

12,991

PIK,

9.1

%

,

2/10/32

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

938,101

GHS

27,520

PIK,

9.25

%

,

2/08/33

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

858,470

GHS

23,916

PIK,

9.4

%

,

2/07/34

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

890,442

GHS

24,051

PIK,

9.55

%

,

2/06/35

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

635,812

GHS

16,805

PIK,

9.7

%

,

2/05/36

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

720,368

GHS

18,773

PIK,

9.85

%

,

2/03/37

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

722,336

GHS

18,673

Templeton

Income

Trust

Schedule

of

Investments

(unaudited)

Templeton

International

Bond

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

18

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

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

713,306

GHS

$

18,379

277,955

Hungary

0.1%

a

Hungary

Government

Bond

,

Senior

Bond

,

Reg

S,

1.5

%

,

11/17/50

......

20,000

EUR

12,665

India

5.2%

India

Government

Bond

,

Senior

Bond

,

7.26

%

,

8/22/32

......

18,000,000

INR

222,349

Senior

Bond

,

7.18

%

,

8/14/33

......

29,000,000

INR

355,723

Senior

Note

,

7.1

%

,

4/18/29

.......

45,600,000

INR

553,298

1,131,370

Indonesia

4.6%

Indonesia

Government

Bond

,

FR96

,

7

%

,

2/15/33

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

14,757,000,000

IDR

1,010,318

Israel

1.6%

a

Israel

Government

Bond

,

Senior

Bond

,

Reg

S,

1.5

%

,

1/16/29

.

332,000

EUR

335,171

Senior

Bond

,

Reg

S,

0.625

%

,

1/18/32

19,000

EUR

16,791

351,962

Malaysia

4.8%

Malaysia

Government

Bond

,

3.882

%

,

3/14/25

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

390,000

MYR

94,886

3.899

%

,

11/16/27

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

3,040,000

MYR

748,463

3.582

%

,

7/15/32

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

870,000

MYR

209,025

1,052,374

Mexico

6.8%

Mexican

Bonos

,

M

,

10

%

,

11/20/36

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

1,000,000

MXN

53,243

M

,

Senior

Bond

,

7.75

%

,

11/23/34

...

3,060,000

MXN

139,568

Mexican

Bonos

Desarr

Fixed

Rate

,

M

,

7.75

%

,

5/29/31

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

6,710,000

MXN

317,081

M

,

7.5

%

,

5/26/33

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

15,970,000

MXN

725,540

M

,

Senior

Bond

,

8.5

%

,

11/18/38

....

1,830,000

MXN

85,656

M

,

Senior

Bond

,

7.75

%

,

11/13/42

...

3,940,000

MXN

167,121

1,488,209

Panama

4.6%

Panama

Government

Bond

,

Senior

Bond

,

6.4

%

,

2/14/35

.......

580,000

593,823

Senior

Bond

,

6.875

%

,

1/31/36

.....

390,000

409,975

1,003,798

Romania

3.0%

a

Romania

Government

Bond

,

Senior

Bond

,

144A,

7.125

%

,

1/17/33

170,000

186,232

Senior

Bond

,

144A,

6.375

%

,

1/30/34

380,000

396,406

Templeton

Income

Trust

Schedule

of

Investments

(unaudited)

Templeton

International

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)

Romania

(continued)

a

Romania

Government

Bond,

(continued)

Senior

Bond

,

144A,

6

%

,

5/25/34

....

80,000

$

81,307

663,945

Serbia

0.4%

Serbia

Treasury

Bonds

,

4.5

%

,

8/20/32

.

9,330,000

RSD

85,035

South

Africa

4.1%

South

Africa

Government

Bond

,

Senior

Bond

,

8.875

%

,

2/28/35

.....

4,470,000

ZAR

239,599

Senior

Bond

,

8.5

%

,

1/31/37

.......

6,820,000

ZAR

342,910

Senior

Bond

,

9

%

,

1/31/40

........

6,470,000

ZAR

327,820

910,329

South

Korea

4.7%

Korea

Treasury

Bonds

,

1.875

%

,

6/10/26

1,373,520,000

KRW

1,025,149

Supranational

6.5%

c

Inter-American

Development

Bank

,

Senior

Note

,

7.35

%

,

10/06/30

......

5,000,000

INR

61,335

c

International

Bank

for

Reconstruction

&

Development

,

Senior

Bond

,

7.07

%

,

6/26/29

......

4,700,000

MXN

227,597

Senior

Note

,

7.05

%

,

7/22/29

......

15,000,000

INR

181,304

Senior

Note

,

6.5

%

,

4/17/30

.......

58,000,000

INR

685,672

c

International

Finance

Corp.

,

a

Senior

Bond

,

Reg

S,

8.375

%

,

5/31/29

3,600,000

MXN

171,249

Senior

Bond

,

7.75

%

,

1/18/30

......

2,100,000

MXN

103,797

1,430,954

Uruguay

2.6%

d

Uruguay

Government

Bond

,

Index

Linked,

Senior

Bond

,

3.875

%

,

7/02/40

22,796,732

UYU

569,991

Total

Foreign

Government

and

Agency

Securities

(Cost

$

18,448,895

)

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

17,854,238

Number

of

Contracts

Notional

Amount

#

a

a

aa

Options

Purchased

0.6%

Calls

-

Over-the-Counter

Currency

Options

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

February

Strike

Price

149.50

JPY

,

Expires

2/05/25

..

1

1,566,000

11,286

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

October

Strike

Price

159.00

JPY

,

Expires

10/25/24

.

1

1,041,000

24

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

October

Strike

Price

159.00

JPY

,

Expires

10/25/24

.

1

1,045,000

24

11,334

Templeton

Income

Trust

Schedule

of

Investments

(unaudited)

Templeton

International

Bond

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

20

a

a

Number

of

Contracts

Notional

Amount

#

a

Value

a

a

a

a

aa

a

a

Options

Purchased

(continued)

Puts

-

Over-the-Counter

Currency

Options

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

December

Strike

Price

135.70

JPY

,

Expires

12/16/24

.

1

1,044,000

$

7,521

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

February

Strike

Price

136.20

JPY

,

Expires

2/05/25

..

1

2,602,500

34,596

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

February

Strike

Price

136.20

JPY

,

Expires

2/05/25

..

1

2,602,500

34,596

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

December

Strike

Price

140.60

JPY

,

Expires

12/16/24

.

1

2,090,000

35,050

111,763

Total

Options

Purchased

(Cost

$

165,834

)

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

123,097

Short

Term

Investments

15.9%

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

4.5%

Egypt

4.5%

e

Egypt

Treasury

Bills

,

5/27/25

........

55,700,000

EGP

980,848

Total

Foreign

Government

and

Agency

Securities

(Cost

$

1,018,190

)

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

980,848

Shares

Money

Market

Funds

11.4%

United

States

11.4%

f,g

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio

,

4.74

%

..........

2,506,514

2,506,514

Total

Money

Market

Funds

(Cost

$

2,506,514

)

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

2,506,514

a

a

a

a

a

Total

Short

Term

Investments

(Cost

$

3,524,704

)

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

3,487,362

a

a

a

Total

Investments

(Cost

$

22,139,433

)

97.9

%

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

$21,464,697

Options

Written

(

0.4

)

%

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

(93,947)

Other

Assets,

less

Liabilities

2.5

%

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

557,877

Net

Assets

100.0%

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

$21,928,627

a

a

a

a

Number

of

Contracts

Notional

Amount

#

Options

Written

(0.4)%

a

Calls

-

Over-the-Counter

a

Currency

Options

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

February

Strike

Price

142.80

JPY

,

Expires

2/05/25

..

1

1,040,750

(

22,686

)

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

February

Strike

Price

145.00

JPY

,

Expires

2/05/25

..

1

523,000

(

8,143

)

Templeton

Income

Trust

Schedule

of

Investments

(unaudited)

Templeton

International

Bond

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

21

a

a

a

Number

of

Contracts

Notional

Amount

#

a

Value

a

a

a

a

a

a

Options

Written

(continued)

a

Calls

-

Over-the-Counter

(continued)

a

Currency

Options

(continued)

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

October

Strike

Price

146.00

JPY

,

Expires

10/25/24

.

1

1,045,000

$

(

5,517

)

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

January

Strike

Price

146.00

JPY

,

Expires

1/27/25

..

1

1,045,000

(

13,584

)

(

49,930

)

Puts

-

Over-the-Counter

Currency

Options

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

December

Strike

Price

129.20

JPY

,

Expires

12/16/24

.

1

2,089,000

(

4,477

)

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

February

Strike

Price

130.39

JPY

,

Expires

2/05/25

..

1

2,602,500

(

14,935

)

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

February

Strike

Price

130.39

JPY

,

Expires

2/05/25

..

1

2,602,500

(

14,935

)

Foreign

Exchange

USD/JPY

,

Counterparty

MSCO

,

December

Strike

Price

137.10

JPY

,

Expires

12/16/24

.

1

1,045,000

(

9,670

)

(

44,017

)

Total

Options

Written

(Premiums

received

$

121,500

)

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

$

(

93,947

)

#

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.

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,

2024,

the

aggregate

value

of

these

securities

was

$2,396,731,

representing

10.9%

of

net

assets.

b

Income

may

be

received

in

additional

securities

and/or

cash.

c

A

supranational

organization

is

an

entity

formed

by

two

or

more

central

governments

through

international

treaties.

d

Principal

amount

of

security,

redemption

price

at

maturity,

and/or

coupon

payments

are

adjusted

for

inflation.

e

The

security

was

issued

on

a

discount

basis

with

no

stated

coupon

rate.

f

See

Note

4

regarding

investments

in

affiliated

management

investment

companies.

g

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.

22

At

September

30,

2024

,

the

Fund

had

the

following

forward

exchange

contracts

outstanding.

See

Abbreviations

on

page

34

.

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

Dinar

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

DBAB

Buy

12,187,000

114,313

10/15/24

$

1,635

$

—

Dinar

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

DBAB

Buy

12,163,721

114,340

10/21/24

1,394

—

Dinar

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

DBAB

Buy

5,356,806

51,151

10/29/24

—

(

177

)

Japanese

Yen

......

MSCO

Buy

188,700,000

1,323,430

10/29/24

573

(

5,769

)

Japanese

Yen

......

MSCO

Sell

142,420,000

998,693

10/29/24

5,836

(

2,071

)

Chilean

Peso

......

HSBK

Buy

86,800,000

90,618

11/04/24

5,937

—

Australian

Dollar

....

CITI

Buy

245,000

163,180

11/07/24

6,295

—

Australian

Dollar

....

CITI

Sell

245,000

163,757

11/07/24

—

(

5,718

)

Australian

Dollar

....

DBAB

Buy

245,000

163,023

11/07/24

6,452

—

Australian

Dollar

....

DBAB

Sell

245,000

163,753

11/07/24

—

(

5,721

)

Chilean

Peso

......

HSBK

Buy

102,300,000

109,593

11/13/24

4,196

—

Chilean

Peso

......

JPHQ

Buy

115,700,000

123,990

11/13/24

4,705

—

Australian

Dollar

....

DBAB

Buy

521,000

349,242

11/22/24

11,188

—

Australian

Dollar

....

DBAB

Sell

290,000

193,889

11/22/24

—

(

6,734

)

Australian

Dollar

....

JPHQ

Buy

489,000

327,919

11/22/24

10,373

—

Australian

Dollar

....

JPHQ

Sell

59,000

39,876

11/22/24

—

(

941

)

Mexican

Peso

......

HSBK

Buy

606,922

31,059

11/22/24

—

(

483

)

Mexican

Peso

......

BNDP

Buy

553,693

27,904

11/26/24

27

(

54

)

Mexican

Peso

......

HSBK

Buy

552,727

28,017

11/26/24

—

(

188

)

Dinar

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

DBAB

Buy

11,876,000

112,325

12/10/24

776

—

Chilean

Peso

......

JPHQ

Buy

152,000,000

162,501

12/16/24

6,526

—

Dinar

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

DBAB

Buy

11,409,706

108,410

12/18/24

259

—

Malaysian

Ringgit

...

GSCO

Buy

3,470,000

797,701

12/18/24

47,137

—

New

Zealand

Dollar

.

CITI

Buy

1,094,000

673,565

12/18/24

21,431

—

South

Korean

Won

..

CITI

Buy

188,000,000

140,587

12/18/24

2,525

—

South

Korean

Won

..

HSBK

Buy

1,424,600,000

1,065,990

12/18/24

18,467

—

Japanese

Yen

......

BNDP

Buy

47,525,120

307,587

1/17/25

27,877

—

Japanese

Yen

......

BNDP

Sell

27,800,000

185,214

1/17/25

—

(

11,017

)

Japanese

Yen

......

BOFA

Buy

49,313,600

319,111

1/17/25

28,978

—

Japanese

Yen

......

DBAB

Buy

76,893,550

497,507

1/17/25

45,260

—

Japanese

Yen

......

DBAB

Sell

76,893,550

546,956

1/17/25

4,189

—

Japanese

Yen

......

GSCO

Buy

304,800,000

1,982,568

1/17/25

168,916

—

Japanese

Yen

......

MSCO

Buy

46,778,000

331,665

1/29/25

—

(

1,064

)

Japanese

Yen

......

MSCO

Sell

13,327,000

93,228

1/29/25

—

(

959

)

Norwegian

Krone

...

CITI

Buy

11,393,000

1,048,596

2/12/25

31,182

—

Norwegian

Krone

...

CITI

Sell

2,120,000

201,858

2/12/25

934

—

Norwegian

Krone

...

DBAB

Buy

1,192,000

109,893

2/12/25

3,079

—

Dinar

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

DBAB

Buy

5,784,000

54,892

3/10/25

258

—

Mexican

Peso

......

BNDP

Buy

201,200

9,734

3/10/25

236

—

Total

Forward

Exchange

Contracts

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

$466,641

$(40,896)

Net

unrealized

appreciation

(depreciation)

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

$425,745

*

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,

2024

Templeton

Sustainable

Emerging

Markets

Bond

Fund

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

23

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

2.9%

Costa

Rica

2.9%

a

,c

Reventazon

Finance

Trust

,

Senior

Secured

Bond

,

144A,

8

%

,

11/15/33

.

Financial

Services

436,140

451,270

South

Africa

0.0%

a

,d

,e

,f

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

,f

K2016470260

South

Africa

Ltd.

,

Senior

Secured

Note

,

144A,

PIK,

25

%

,

12/31/22

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

Broadline

Retail

237,804

—

—

Total

Corporate

Bonds

(Cost

$

737,175

)

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

451,270

a

a

Industry

Principal

Amount

*

a

Value

Foreign

Government

and

Agency

Securities

86.8%

Benin

1.0%

f

Benin

Government

Bond

,

Senior

Bond

,

144A,

4.95

%

,

1/22/35

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

170,000

EUR

159,236

Brazil

2.3%

Brazil

Notas

do

Tesouro

Nacional

,

10

%

,

1/01/33

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

2,186,000

BRL

357,038

Colombia

8.1%

Colombia

Government

Bond

,

Senior

Bond

,

9.85

%

,

6/28/27

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

13,000,000

COP

3,059

Colombia

Titulos

de

Tesoreria

,

B

,

7

%

,

6/30/32

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

107,000,000

COP

21,779

B

,

13.25

%

,

2/09/33

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

260,000,000

COP

73,368

B

,

7.25

%

,

10/18/34

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

257,000,000

COP

50,701

B

,

6.25

%

,

7/09/36

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

64,000,000

COP

11,155

B

,

9.25

%

,

5/28/42

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

580,000,000

COP

121,681

G

,

7

%

,

3/26/31

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

4,697,000,000

COP

990,143

1,271,886

Ecuador

2.2%

f

Ecuador

Government

Bond

,

Senior

Bond

,

144A,

5.5

%

,

7/31/35

........

620,300

354,136

Egypt

3.0%

Egypt

Government

Bond

,

25.151

%

,

4/16/27

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

4,300,000

EGP

87,434

Templeton

Income

Trust

Schedule

of

Investments

(unaudited)

Templeton

Sustainable

Emerging

Markets

Bond

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

24

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

(continued)

Egypt

(continued)

Egypt

Government

Bond,

(continued)

f

Senior

Note

,

144A,

5.25

%

,

10/06/25

.

390,000

$

387,565

474,999

Ghana

1.2%

d

Ghana

Government

Bond

,

PIK,

8.35

%

,

2/16/27

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

820,955

GHS

37,055

PIK,

8.5

%

,

2/15/28

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

822,773

GHS

32,907

PIK,

8.65

%

,

2/13/29

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

773,313

GHS

27,904

PIK,

8.8

%

,

2/12/30

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

775,023

GHS

25,738

PIK,

8.95

%

,

2/11/31

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

738,553

GHS

22,850

PIK,

9.1

%

,

2/10/32

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

772,255

GHS

22,654

PIK,

9.25

%

,

2/08/33

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

773,959

GHS

21,562

PIK,

9.4

%

,

2/07/34

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

49,783

GHS

1,345

PIK,

9.55

%

,

2/06/35

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

25,893

GHS

684

PIK,

9.7

%

,

2/05/36

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

26,002

GHS

678

PIK,

9.85

%

,

2/03/37

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

26,112

GHS

675

PIK,

10

%

,

2/02/38

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

26,222

GHS

676

194,728

Hungary

3.8%

Hungary

Government

Bond

,

4.5

%

,

5/27/32

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

234,000,000

HUF

597,605

India

12.0%

India

Government

Bond

,

Senior

Bond

,

7.29

%

,

1/27/33

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

152,870,000

INR

1,887,682

Ivory

Coast

2.3%

f

Ivory

Coast

Government

Bond

,

Senior

Note

,

144A,

7.625

%

,

1/30/33

......

360,000

370,102

Kenya

2.6%

f

Kenya

Government

Bond

,

Senior

Note

,

144A,

9.75

%

,

2/16/31

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

400,000

405,000

Malaysia

4.9%

Malaysia

Government

Bond

,

3.899

%

,

11/16/27

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

1,940,000

MYR

477,638

3.885

%

,

8/15/29

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

519,000

MYR

128,056

4.498

%

,

4/15/30

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

630,000

MYR

159,767

765,461

Mexico

1.8%

Mexican

Bonos

Desarr

Fixed

Rate

,

M

,

7.5

%

,

5/26/33

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

6,420,000

MXN

291,670

Namibia

4.4%

Namibia

Government

Bond

,

9.5

%

,

7/15/35

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

8,910,000

NAD

515,935

9.5

%

,

7/15/37

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

3,100,000

NAD

171,789

687,724

Oman

1.8%

f

Oman

Government

Bond

,

Senior

Bond

,

144A,

4.75

%

,

6/15/26

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

280,000

279,583

Templeton

Income

Trust

Schedule

of

Investments

(unaudited)

Templeton

Sustainable

Emerging

Markets

Bond

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

25

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

(continued)

Panama

3.6%

Panama

Government

Bond

,

Senior

Bond

,

6.875

%

,

1/31/36

.....

330,000

$

346,901

Senior

Bond

,

8

%

,

3/01/38

........

200,000

226,360

573,261

Poland

2.1%

Poland

Government

Bond

,

2.75

%

,

10/25/29

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

1,410,000

PLN

331,797

Qatar

1.9%

f

Qatar

Government

Bond

,

Senior

Bond

,

144A,

4.75

%

,

5/29/34

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

280,000

294,260

Romania

4.7%

f

Romania

Government

Bond

,

Senior

Bond

,

144A,

5.625

%

,

2/22/36

222,000

EUR

246,152

Senior

Bond

,

144A,

2.75

%

,

4/14/41

.

100,000

EUR

75,446

Senior

Bond

,

144A,

2.875

%

,

4/13/42

560,000

EUR

422,214

743,812

Serbia

7.1%

f

Serbia

Government

Bond

,

Senior

Bond

,

144A,

6.5

%

,

9/26/33

..

340,000

364,461

Senior

Bond

,

144A,

6

%

,

6/12/34

....

270,000

278,444

Serbia

Treasury

Bonds

,

4.5

%

,

8/20/32

.

51,310,000

RSD

467,650

1,110,555

Seychelles

1.4%

f

Seychelles

International

Bond

,

Senior

Bond

,

Reg

S,

8

%

,

1/01/26

........

211,905

213,620

Supranational

11.5%

g

European

Bank

for

Reconstruction

&

Development

,

Senior

Note

,

10

%

,

3/28/26

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

252,600,000

KZT

506,136

f,g

European

Investment

Bank

,

Senior

Bond

,

Reg

S,

6.5

%

,

9/28/32

.......

8,950,000

ZAR

467,494

g

International

Bank

for

Reconstruction

&

Development

,

Senior

Bond

,

7.07

%

,

6/26/29

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

10,800,000

MXN

522,989

g

International

Finance

Corp.

,

Senior

Note

,

14.25

%

,

5/02/25

...........

4,000,000,000

UZS

315,039

1,811,658

Uruguay

3.1%

h

Uruguay

Government

Bond

,

Index

Linked,

Senior

Bond

,

3.875

%

,

7/02/40

19,417,837

UYU

485,508

Total

Foreign

Government

and

Agency

Securities

(Cost

$

13,517,464

)

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

13,661,321

Templeton

Income

Trust

Schedule

of

Investments

(unaudited)

Templeton

Sustainable

Emerging

Markets

Bond

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

26

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

$

14,269,637

)

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

14,112,591

Short

Term

Investments

8.1%

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

4.9%

Egypt

4.9%

i

Egypt

Treasury

Bills

,

3/04/25

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

25,300,000

EGP

468,363

3/18/25

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

16,425,000

EGP

301,099

769,462

Total

Foreign

Government

and

Agency

Securities

(Cost

$

791,899

)

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

769,462

Shares

Money

Market

Funds

3.2%

United

States

3.2%

j,k

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio

,

4.74

%

..........

500,520

500,520

Total

Money

Market

Funds

(Cost

$

500,520

)

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

500,520

a

a

a

a

a

Total

Short

Term

Investments

(Cost

$

1,292,419

)

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

1,269,982

a

a

a

Total

Investments

(Cost

$

15,562,056

)

97.8

%

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

$15,382,573

Other

Assets,

less

Liabilities

2.2

%

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

349,280

Net

Assets

100.0%

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

$15,731,853

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

Defaulted

security

or

security

for

which

income

has

been

deemed

uncollectible.

f

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,

2024,

the

aggregate

value

of

these

securities

was

$4,317,713,

representing

27.4%

of

net

assets.

g

A

supranational

organization

is

an

entity

formed

by

two

or

more

central

governments

through

international

treaties.

h

Principal

amount

of

security,

redemption

price

at

maturity,

and/or

coupon

payments

are

adjusted

for

inflation.

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)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

27

At

September

30,

2024,

the

Fund

had

the

following

forward

exchange

contracts

outstanding.

At

September

30,

2024

,

the

Fund

had

the

following interest

rate swap

contracts

outstanding.

See

Abbreviations

on

page

34.

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

Uruguayan

Peso

....

CITI

Buy

36,600,000

920,024

10/25/24

$

7,479

$

(

729

)

Columbian

Peso

....

GSCO

Buy

370,000,000

89,815

10/28/24

—

(

1,992

)

Columbian

Peso

....

MSCO

Buy

764,000,000

185,473

10/28/24

—

(

4,130

)

Brazilian

Real

......

JPHQ

Buy

3,428,685

615,276

11/04/24

13,583

—

Mexican

Peso

......

HSBK

Buy

1,870,513

95,722

11/22/24

—

(

1,488

)

Mexican

Peso

......

BNDP

Buy

1,706,454

86,000

11/26/24

83

(

166

)

Mexican

Peso

......

HSBK

Buy

1,703,485

86,347

11/26/24

—

(

580

)

Malaysian

Ringgit

...

GSCO

Buy

1,930,000

443,678

12/18/24

26,217

—

South

Korean

Won

..

CITI

Buy

548,000,000

409,796

12/18/24

7,361

—

South

Korean

Won

..

DBAB

Buy

274,000,000

205,474

12/18/24

3,104

—

Indonesian

Rupiah

..

HSBK

Buy

13,740,100,000

835,907

12/24/24

65,801

—

Indonesian

Rupiah

..

HSBK

Sell

7,550,000,000

487,945

12/24/24

—

(

7,531

)

Mexican

Peso

......

BNDP

Buy

620,189

30,003

3/10/25

727

—

Total

Forward

Exchange

Contracts

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

$124,355

$(16,616)

Net

unrealized

appreciation

(depreciation)

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

$107,739

*

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

11.342%

.

At

Maturity

Pay

Floating

1-day

BRL

CDI

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

At

Maturity

1/02/29

3,422,237

BRL

$

(

24,474

)

$

—

$

(

24,474

)

Total

Interest

Rate

Swap

Contracts

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

$(24,474)

$

—

$(24,474)

*

In

U.S.

dollars

unless

otherwise

indicated.

Templeton

Income

Trust

Notes

to

Schedules

of

Investments

(unaudited)

28

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)

29

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,

2024,

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,

2024,

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

—

436,140

Reventazon

Finance

Trust,

Senior

Secured

Bond,

144A,

8%,

11/15/33

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

12/18/13

436,140

451,270

Total

Restricted

Securities

(Value

is

2.9%

of

Net

Assets)

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

$451,138

$451,270

*

In

U.S.

dollars

unless

otherwise

indicated.

a

The

Fund

also

invests

in

unrestricted

securities

of

the

issuer,

valued

at

$—

as

of

September

30,

2024.

2. Financial

Instrument

Valuation

(continued)

Templeton

Income

Trust

Notes

to

Schedules

of

Investments

(unaudited)

30

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,

4.74%

.

$361,448,074

$1,279,810,734

$(1,266,496,899)

$—

$—

$374,761,909

374,761,909

$11,241,171

Total

Affiliated

Securities

...

$361,448,074

$1,279,810,734

$(1,266,496,899)

$—

$—

$374,761,909

$11,241,171

Templeton

Global

Total

Return

Fund

Non-Controlled

Affiliates

Dividends

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

4.74%

.

$16,359,736

$114,676,854

$(108,741,254)

$—

$—

$22,295,336

22,295,336

$452,678

Total

Affiliated

Securities

...

$16,359,736

$114,676,854

$(108,741,254)

$—

$—

$22,295,336

$452,678

Templeton

International

Bond

Fund

Non-Controlled

Affiliates

Dividends

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

4.74%

.

$4,817,812

$9,722,450

$(12,033,748)

$—

$—

$2,506,514

2,506,514

$109,993

Total

Affiliated

Securities

...

$4,817,812

$9,722,450

$(12,033,748)

$—

$—

$2,506,514

$109,993

Templeton

Sustainable

Emerging

Markets

Bond

Fund

Non-Controlled

Affiliates

Dividends

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

4.74%

.

$598,325

$8,184,925

$(8,282,730)

$—

$—

$500,520

500,520

$36,290

Total

Affiliated

Securities

...

$598,325

$8,184,925

$(8,282,730)

$—

$—

$500,520

$36,290

4.

Investments

in

Affiliated

Management

Investment

Companies

(continued)

Templeton

Income

Trust

Notes

to

Schedules

of

Investments

(unaudited)

31

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,

2024,

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

....

$

—

$

3,020,235,397

$

—

$

3,020,235,397

U.S.

Government

and

Agency

Securities

.......

—

243,367,725

—

243,367,725

Options

Purchased

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

—

20,795,689

—

20,795,689

Short

Term

Investments

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

374,761,909

—

—

374,761,909

Total

Investments

in

Securities

...........

$374,761,909

$3,284,398,811

$—

$3,659,160,720

Other

Financial

Instruments:

Forward

Exchange

Contracts

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

$—

$67,645,143

$—

$67,645,143

Swap

Contracts

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

—

1,729,907

—

1,729,907

Total

Other

Financial

Instruments

.........

$—

$69,375,050

$—

$69,375,050

Liabilities:

Other

Financial

Instruments:

Options

Written

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

$—

$15,868,620

$—

$15,868,620

Forward

Exchange

Contracts

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

—

9,965,969

—

$

9,965,969

Swap

Contracts

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

—

2,147,667

—

2,147,667

Total

Other

Financial

Instruments

.........

$—

$27,982,256

$—

$27,982,256

Templeton

Global

Total

Return

Fund

Assets:

Investments

in

Securities:

a

Common

Stocks

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

—

—

—

b

—

Corporate

Bonds

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

—

—

—

b

—

Foreign

Government

and

Agency

Securities

....

—

193,793,924

—

193,793,924

U.S.

Government

and

Agency

Securities

.......

—

20,267,816

—

20,267,816

Escrows

and

Litigation

Trusts

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

—

—

—

b

—

Options

Purchased

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

—

1,190,802

—

1,190,802

Short

Term

Investments

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

22,295,336

11,083,030

—

33,378,366

Total

Investments

in

Securities

...........

$22,295,336

$226,335,572

$—

$248,630,908

Other

Financial

Instruments:

Forward

Exchange

Contracts

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

$—

$4,704,139

$—

$4,704,139

Total

Other

Financial

Instruments

.........

$—

$4,704,139

$—

$4,704,139

Liabilities:

Other

Financial

Instruments:

Options

Written

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

$—

$908,687

$—

$908,687

Forward

Exchange

Contracts

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

—

669,275

—

$

669,275

Swap

Contracts

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

—

98,515

—

98,515

Total

Other

Financial

Instruments

.........

$—

$1,676,477

$—

$1,676,477

Templeton

International

Bond

Fund

Assets:

Investments

in

Securities:

a

Foreign

Government

and

Agency

Securities

....

—

17,854,238

—

$17,854,238

Options

Purchased

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

—

123,097

—

123,097

Short

Term

Investments

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

2,506,514

980,848

—

3,487,362

Total

Investments

in

Securities

...........

$2,506,514

$18,958,183

$—

$21,464,697

Other

Financial

Instruments:

Forward

Exchange

Contracts

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

$—

$466,641

$—

$466,641

Total

Other

Financial

Instruments

.........

$—

$466,641

$—

$466,641

5. Fair

Value

Measurements

(continued)

Templeton

Income

Trust

Notes

to

Schedules

of

Investments

(unaudited)

32

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,

2024,

the

reconciliations

are

as

follows:

Level

1

Level

2

Level

3

Total

Templeton

International

Bond

Fund

(continued)

Liabilities:

Other

Financial

Instruments:

Options

Written

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

$—

$93,947

$—

$93,947

Forward

Exchange

Contracts

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

—

40,896

—

40,896

Total

Other

Financial

Instruments

.........

$—

$134,843

$—

$134,843

Templeton

Sustainable

Emerging

Markets

Bond

Fund

Assets:

Investments

in

Securities:

a

Common

Stocks

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

—

—

—

b

—

Corporate

Bonds

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

—

—

451,270

b

451,270

Foreign

Government

and

Agency

Securities

....

—

13,661,321

—

13,661,321

Escrows

and

Litigation

Trusts

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

—

—

—

b

—

Short

Term

Investments

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

500,520

769,462

—

1,269,982

Total

Investments

in

Securities

...........

$500,520

$14,430,783

$451,270

$15,382,573

Other

Financial

Instruments:

Forward

Exchange

Contracts

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

$—

$124,355

$—

$124,355

Total

Other

Financial

Instruments

.........

$—

$124,355

$—

$124,355

Liabilities:

Other

Financial

Instruments:

Forward

Exchange

Contracts

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

$—

$16,616

$—

$16,616

Swap

Contracts

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

—

24,474

—

24,474

Total

Other

Financial

Instruments

.........

$—

$41,090

$—

$41,090

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

...

450,124

—

(14,520)

—

—

—

—

15,666

451,270

15,649

South

Africa

..

—

b

—

—

—

—

—

—

—

—

b

—

Escrows

and

Litigation

Trusts

..

—

b

—

—

—

—

—

—

—

—

b

—

Total

Investments

in

Securities

.........

$450,124

$—

$(14,520)

$—

$—

$—

$—

$15,666

$451,270

$15,649

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)

33

Quarterly

Schedules

of

Investments

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,

2024,

are

as

follows:

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

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

$451,270

Discounted

cash

flow

Discount

rate

(

b

)

7.2%

Decrease

All

Other

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

—

c

Total

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

$451,270

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)

34

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

Cu

r

rency

AUD

Australian

Dollar

BRL

Brazilian

Real

COP

Colombian

Peso

EGP

Egyptian

Pound

EUR

Euro

GHS

Ghanaian

Cedi

HUF

Hungarian

Forint

IDR

Indonesian

Rupiah

INR

Indian

Rupee

JPY

Japanese

Yen

KRW

South

Korean

Won

KZT

Kazakhstani

Tenge

MXN

Mexican

Peso

MYR

Malaysian

Ringgit

NAD

Namibian

Dollar

NOK

Norwegian

Krone

PLN

Polish

Zloty

RSD

Serbian

Dinar

USD

United

States

Dollar

UYU

Uruguayan

Peso

UZS

Uzbekistani

Som

ZAR

South

African

Rand

Selected

Portfolio

CDI

certificado

de

deposito

interbancario

PIK

Payment-In-Kind

SOFR

Secured

Overnight

Financing

Rate

The

following

reference

rates,

and

their

values

as

of

period

end,

are

used

for

security

descriptions:

Reference

Index

Reference

Rate

1-day

BRL

CDI

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

10.65%

1-day

SOFR

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

4.96%

For

additional

information

on

the

Funds'

significant

accounting

policies,

please

refer

to

the Funds'

most

recent

semiannual

or

annual

shareholder

report.