Not

FDIC

Insured

May

Lose

Value

No

Bank

Guarantee

TIT-Q1PH

1

If

you

need

assistance

accessing

this

content,

please

reach

out

to

your

sales

representative

or

send

an

email

to

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.

Schedules

of

Investments

(unaudited)

Templeton

Global

Bond

Enhanced

Fund

2

Templeton

Global

Bond

Fund

8

Templeton

Sustainable

Emerging

Markets

Bond

Fund

13

Notes

to

Schedules

of

Investments

17

Templeton

Income

Trust

Schedule

of

Investments

(unaudited),

March

31,

2026

Templeton

Global

Bond

Enhanced

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

Corporate

Bonds

0.0%

South

Africa

0.0%

a

,b

,c

K2016470219

South

Africa

Ltd.

,

Senior

Secured

Note

,

144A,

3

%

,

12/31/22

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

Broadline

Retail

37,627,701

$

—

Senior

Secured

Note

,

144A,

8

%

,

12/31/22

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

Broadline

Retail

14,528,882

EUR

—

a

,b

,c

K2016470260

South

Africa

Ltd.

,

Senior

Secured

Note

,

144A,

25

%

,

12/31/22

.

Broadline

Retail

19,186,470

—

—

Total

Corporate

Bonds

(Cost

$

46,940,536

)

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

—

a

a

Industry

Principal

Amount

*

a

Value

Foreign

Government

and

Agency

Securities

79.7%

Brazil

9.6%

Brazil

Notas

do

Tesouro

Nacional

,

10

%

,

1/01/31

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

48,131,000

BRL

8,129,019

10

%

,

1/01/33

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

37,316,000

BRL

6,056,446

F

,

10

%

,

1/01/29

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

29,167,000

BRL

5,200,078

19,385,543

Colombia

2.6%

Colombia

Titulos

de

Tesoreria

,

B

,

6.25

%

,

7/09/36

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

1,190,100,000

COP

206,962

B

,

9.25

%

,

5/28/42

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

24,606,100,000

COP

5,069,361

5,276,323

Dominican

Republic

3.5%

c

Dominican

Republic

Government

Bond

,

Senior

Bond

,

144A,

5.3

%

,

1/21/41

..

2,370,000

2,022,321

Senior

Bond

,

144A,

6.4

%

,

6/05/49

..

580,000

538,472

Senior

Bond

,

144A,

5.875

%

,

1/30/60

5,340,000

4,474,653

7,035,446

Ecuador

4.2%

c

Ecuador

Government

Bond

,

Senior

Bond

,

144A,

6.9

%

,

7/31/35

........

9,536,000

8,422,004

Egypt

3.2%

Egypt

Government

Bond

,

25.151

%

,

4/16/27

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

199,700,000

EGP

3,683,349

c

Senior

Bond

,

144A,

8.75

%

,

9/30/51

.

1,080,000

949,742

c

Senior

Bond

,

144A,

7.5

%

,

2/16/61

..

2,370,000

1,806,464

6,439,555

Ghana

1.5%

Ghana

Government

Bond

,

8.5

%

,

2/15/28

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

2,032,768

GHS

179,553

9.1

%

,

2/10/32

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

16,090,991

GHS

1,275,706

9.25

%

,

2/08/33

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

2,073,683

GHS

161,131

9.55

%

,

2/06/35

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

2,016,986

GHS

159,515

9.85

%

,

2/03/37

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

3,238,754

GHS

250,633

c

Senior

Bond

,

144A,

5

%

,

7/03/35

....

440,000

376,388

Templeton

Income

Trust

Schedule

of

Investments

(unaudited)

Templeton

Global

Bond

Enhanced

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

3

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

(continued)

Ghana

(continued)

Ghana

Government

Bond,

(continued)

c

Senior

Bond

,

144A,

1.5

%

,

1/03/37

..

1,400,000

$

734,928

3,137,854

Greece

1.2%

c

Greece

Government

Bond

,

Senior

Bond

,

144A,

Reg

S,

4.25

%

,

6/15/33

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

968,000

EUR

1,173,709

Senior

Bond

,

144A,

Reg

S,

3.375

%

,

6/15/34

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

1,095,000

EUR

1,242,969

2,416,678

India

9.0%

India

Government

Bond

,

Senior

Bond

,

7.26

%

,

8/22/32

......

1,047,450,000

INR

11,223,169

Senior

Bond

,

7.18

%

,

8/14/33

......

311,900,000

INR

3,318,433

Senior

Bond

,

7.1

%

,

4/08/34

.......

106,150,000

INR

1,122,051

Senior

Bond

,

6.79

%

,

10/07/34

.....

245,100,000

INR

2,544,450

18,208,103

Kazakhstan

4.6%

Kazakhstan

MEOKAM

,

15.35

%

,

11/18/27

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

50,500,000

KZT

104,173

Kazakhstan

MEUKAM

,

9

%

,

7/03/27

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

171,400,000

KZT

330,370

15.3

%

,

3/03/29

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

252,400,000

KZT

521,063

10.55

%

,

7/28/29

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

315,300,000

KZT

575,309

11

%

,

2/04/30

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

41,000,000

KZT

75,091

12

%

,

3/07/30

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

983,370,000

KZT

1,855,703

12

%

,

2/22/31

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

844,030,000

KZT

1,571,526

10.3

%

,

3/17/31

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

224,900,000

KZT

392,207

14

%

,

5/12/31

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

60,600,000

KZT

121,111

Senior

Bond

,

5

%

,

4/18/28

........

494,200,000

KZT

845,241

Senior

Bond

,

5.5

%

,

9/20/28

.......

724,300,000

KZT

1,208,296

Senior

Bond

,

7.68

%

,

8/13/29

......

1,052,000,000

KZT

1,762,499

9,362,589

Malaysia

11.4%

Malaysia

Government

Bond

,

3.502

%

,

5/31/27

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

4,190,000

MYR

1,039,664

3.899

%

,

11/16/27

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

77,940,000

MYR

19,491,601

3.885

%

,

8/15/29

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

9,526,000

MYR

2,393,912

4.498

%

,

4/15/30

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

825,000

MYR

212,187

23,137,364

Mexico

4.6%

Mexican

Bonos

Desarr

Fixed

Rate

,

M

,

8.5

%

,

3/01/29

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

44,140,000

MXN

2,468,479

M

,

8.5

%

,

2/28/30

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

36,640,000

MXN

2,031,391

M

,

7.75

%

,

5/29/31

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

33,600,000

MXN

1,787,884

M

,

Senior

Bond

,

8.5

%

,

5/31/29

.....

54,620,000

MXN

3,045,377

9,333,131

Templeton

Income

Trust

Schedule

of

Investments

(unaudited)

Templeton

Global

Bond

Enhanced

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

4.6%

c

Norway

Government

Bond

,

Senior

Bond

,

144A,

Reg

S,

1.75

%

,

2/17/27

.

91,433,000

NOK

$

9,235,124

Panama

3.5%

Panama

Government

Bond

,

Senior

Bond

,

6.4

%

,

2/14/35

.......

1,110,000

1,154,755

Senior

Bond

,

6.7

%

,

1/26/36

.......

4,850,000

5,127,226

Senior

Bond

,

6.875

%

,

1/31/36

.....

665,000

708,488

6,990,469

South

Africa

7.5%

South

Africa

Government

Bond

,

8.875

%

,

2/28/35

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

35,410,000

ZAR

2,057,823

8.5

%

,

1/31/37

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

82,266,000

ZAR

4,546,744

9

%

,

1/31/40

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

109,760,000

ZAR

6,098,206

8.75

%

,

1/31/44

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

47,576,700

ZAR

2,549,626

15,252,399

Spain

3.6%

c

Spain

Bonos

Y

Obligaciones

del

Estado

,

Senior

Bond

,

144A,

Reg

S,

3.55

%

,

10/31/33

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

3,169,000

EUR

3,730,680

Senior

Bond

,

144A,

Reg

S,

3.15

%

,

4/30/35

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

3,200,000

EUR

3,622,493

7,353,173

Supranational

5.1%

c,d

European

Investment

Bank

,

Senior

Note

,

144A,

6.5

%

,

5/02/32

........

183,000,000

INR

1,858,748

d

International

Bank

for

Reconstruction

&

Development

,

Senior

Note

,

12

%

,

7/16/27

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

16,040,000,000

COP

4,290,636

d

International

Finance

Corp.

,

8.25

%

,

9/18/28

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

16,912,000,000

COP

4,145,538

10,294,922

Total

Foreign

Government

and

Agency

Securities

(Cost

$

157,138,970

)

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

161,280,677

U.S.

Government

and

Agency

Securities

7.1%

United

States

7.1%

U.S.

Treasury

Notes

,

3.875

%,

6/30/30

.

14,230,000

14,209,711

Total

U.S.

Government

and

Agency

Securities

(Cost

$

14,183,864

)

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

14,209,711

Shares

Escrows

and

Litigation

Trusts

0.0%

†

a,e

K2016470219

South

Africa

Ltd.,

Escrow

Account

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

2,168,033

33,779

Total

Escrows

and

Litigation

Trusts

(Cost

$

–

)

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

33,779

Total

Long

Term

Investments

(Cost

$

218,263,370

)

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

175,524,167

Templeton

Income

Trust

Schedule

of

Investments

(unaudited)

Templeton

Global

Bond

Enhanced

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

5

Short

Term

Investments

10.3%

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

4.9%

Egypt

4.9%

f

Egypt

Treasury

Bills

,

23

.888

%

,

4/07/26

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

90,000,000

EGP

$

1,647,610

22

.842

%

,

4/14/26

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

61,350,000

EGP

1,119,194

22

.766

%

,

6/16/26

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

84,750,000

EGP

1,481,534

21

.757

%

,

6/23/26

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

26,000,000

EGP

452,438

22

.451

%

,

7/07/26

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

96,600,000

EGP

1,667,257

21

.662

%

,

7/14/26

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

72,325,000

EGP

1,245,816

21

.611

%

,

8/18/26

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

13,075,000

EGP

220,248

23

.373

%

,

9/22/26

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

64,450,000

EGP

1,061,927

21

.915

%

,

10/13/26

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

34,225,000

EGP

556,589

20

.901

%

,

1/12/27

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

26,575,000

EGP

409,732

9,862,345

Total

Foreign

Government

and

Agency

Securities

(Cost

$

11,036,515

)

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

9,862,345

Shares

Money

Market

Funds

5.4%

United

States

5.4%

g,h

Franklin

Institutional

U.S.

Government

Money

Market

Fund

,

3.578

%

......

10,885,752

10,885,752

Total

Money

Market

Funds

(Cost

$

10,885,752

)

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

10,885,752

a

a

a

a

a

Total

Short

Term

Investments

(Cost

$

21,922,267

)

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

20,748,097

a

a

a

Total

Investments

(Cost

$

240,185,637

)

97.1

%

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

$196,272,264

Other

Assets,

less

Liabilities

2.9

%

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

6,035,727

Net

Assets

100.0%

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

$202,307,991

a

a

a

*

The

principal

amount

is

stated

in

U.S.

dollars

unless

otherwise

indicated.

†

Rounds

to

less

than

0.1%

of

net

assets.

a

Fair

valued

using

significant

unobservable

inputs.

See

Note

4

regarding

fair

value

measurements.

b

Defaulted

security

or

security

for

which

income

has

been

deemed

uncollectible.

c

Security

was

purchased

pursuant

to

Rule

144A

or

Regulation

S

under

the

Securities

Act

of

1933.

144A

securities

may

be

sold

in

transactions

exempt

from

registration

only

to

qualified

institutional

buyers

or

in

a

public

offering

registered

under

the

Securities

Act

of

1933.

Regulation

S

securities

cannot

be

sold

in

the

United

States

without

either

an

effective

registration

statement

filed

pursuant

to

the

Securities

Act

of

1933,

or

pursuant

to

an

exemption

from

registration.

At

March

31,

2026,

the

aggregate

value

of

these

securities

was

$40,188,695,

representing

19.9%

of

net

assets.

d

A

supranational

organization

is

an

entity

formed

by

two

or

more

central

governments

through

international

treaties.

e

Non-income

producing.

f

The

rate

shown

represents

the

yield

at

period

end.

g

See

Note

3

regarding

investments

in

affiliated

management

investment

companies.

h

The

rate

shown

is

the

annualized

seven-day

effective

yield

at

period

end.

Templeton

Income

Trust

Schedule

of

Investments

(unaudited)

Templeton

Global

Bond

Enhanced

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

6

At

March

31,

2026,

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

Brazilian

Real

......

JPHQ

Buy

17,958,719

3,152,450

4/02/26

$

314,585

$

—

Brazilian

Real

......

JPHQ

Sell

17,958,719

3,400,894

4/02/26

—

(

66,141

)

Chinese

Yuan

......

DBAB

Sell

44,370,000

6,294,063

4/10/26

—

(

151,976

)

Columbian

Peso

....

CITI

Sell

9,722,032,000

2,545,641

4/13/26

—

(

92,841

)

Norwegian

Krone

...

MSCO

Buy

9,256,000

915,672

4/13/26

40,215

—

Chinese

Yuan

......

HSBK

Sell

7,593,703

1,094,493

4/15/26

—

(

9,158

)

Japanese

Yen

......

MSCO

Buy

2,166,587,000

14,359,004

5/07/26

—

(

661,689

)

Euro

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

DBAB

Sell

716,737

8,520,000

NOK

5/12/26

49,635

—

Chinese

Yuan

......

JPHQ

Sell

62,318,149

8,856,790

5/21/26

—

(

223,488

)

Australian

Dollar

....

JPHQ

Buy

26,966,000

19,056,333

5/26/26

—

(

465,007

)

Mexican

Peso

......

BNDP

Buy

21,736,436

1,167,408

6/10/26

37,974

—

Mexican

Peso

......

HSBK

Buy

31,153,000

1,673,381

6/10/26

54,191

—

Australian

Dollar

....

DBAB

Buy

2,173,000

1,456,523

6/17/26

41,046

—

Australian

Dollar

....

MSCO

Buy

3,360,000

2,251,032

6/17/26

64,584

—

Chinese

Yuan

......

JPHQ

Sell

34,490,000

5,040,261

6/17/26

5,940

—

South

Korean

Won

..

DBAB

Buy

28,961,490,000

19,656,898

6/17/26

—

(

362,058

)

Brazilian

Real

......

JPHQ

Buy

978,719

182,916

7/02/26

2,170

—

Thai

Baht

.........

HSBK

Sell

85,729,000

2,619,431

7/02/26

121

—

Columbian

Peso

....

CITI

Sell

8,777,642,250

2,272,894

7/14/26

—

(

60,344

)

Euro

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

BNDP

Sell

791,000

930,452

7/14/26

11,966

—

Euro

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

BOFA

Sell

712,467

838,029

7/14/26

10,733

—

Columbian

Peso

....

BNDP

Sell

5,052,525,750

1,320,763

7/15/26

—

(

21,956

)

Euro

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

BZWS

Sell

833,533

979,318

7/16/26

11,372

—

Euro

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

JPHQ

Sell

5,744,604

6,673,346

7/16/26

11,482

(

9,094

)

Japanese

Yen

......

MSCO

Buy

763,150,000

5,034,499

7/27/26

—

(

178,820

)

Thai

Baht

.........

HSBK

Sell

61,505,000

1,871,017

8/03/26

—

(

13,465

)

Japanese

Yen

......

MSCO

Buy

1,968,141,000

12,726,503

8/10/26

—

(

189,478

)

Mexican

Peso

......

BNDP

Buy

59,812,208

3,430,740

8/31/26

—

(

137,579

)

Mexican

Peso

......

HSBK

Buy

93,910,542

5,385,088

8/31/26

—

(

214,528

)

Japanese

Yen

......

MSCO

Buy

2,166,587,000

13,823,796

9/17/26

20,281

—

Thai

Baht

.........

CITI

Sell

97,728,000

2,993,613

10/02/26

—

(

16,464

)

Thai

Baht

.........

HSBK

Sell

85,293,000

2,619,435

10/02/26

—

(

7,637

)

Total

Forward

Exchange

Contracts

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

$676,295

$(2,881,723)

Net

unrealized

appreciation

(depreciation)

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

$(2,205,428)

*

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

Bond

Enhanced

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

7

At

March

31,

2026

,

the

Fund

had

the

following interest

rate swap

contracts

outstanding.

See

Abbreviations

on

page

21

.

Interest

Rate

Swap

Contracts

Description

Payment

Frequency

Maturity

Date

Notional

Amount

*

Value

Upfront

Payments

(Receipts)

Unrealized

Appreciation

(Depreciation)

aa

aa

aa

aa

Centrally

Cleared

Swap

Contracts

Receive

Fixed

3.285%

.

Annual

Pay

Floating

1-day

SOFR

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

Annual

5/03/33

4,920,000

$

(

174,005

)

$

—

$

(

174,005

)

Total

Interest

Rate

Swap

Contracts

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

$(174,005)

$

—

$(174,005)

*

In

U.S.

dollars

unless

otherwise

indicated.

Templeton

Income

Trust

Schedule

of

Investments

(unaudited),

March

31,

2026

Templeton

Global

Bond

Fund

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

8

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

73.8%

Australia

10.1%

New

South

Wales

Treasury

Corp.

,

Senior

Bond

,

2

%

,

3/08/33

........

41,549,000

AUD

$

23,268,787

a

Senior

Bond

,

Reg

S,

1.75

%

,

3/20/34

94,524,000

AUD

49,892,834

a

Queensland

Treasury

Corp.

,

Senior

Bond

,

144A,

Reg

S,

1.75

%

,

7/20/34

.

218,298,000

AUD

113,444,502

Treasury

Corp.

of

Victoria

,

Senior

Bond

,

2.25

%

,

11/20/34

.....

44,262,000

AUD

23,658,839

Senior

Bond

,

2

%

,

11/20/37

........

189,652,000

AUD

88,572,634

298,837,596

Brazil

9.3%

Brazil

Notas

do

Tesouro

Nacional

,

10

%

,

1/01/31

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

909,614,000

BRL

153,628,003

10

%

,

1/01/33

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

361,526,000

BRL

58,676,239

F

,

10

%

,

1/01/29

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

349,224,000

BRL

62,261,877

274,566,119

Colombia

3.4%

Colombia

Titulos

de

Tesoreria

,

B

,

13.25

%

,

2/09/33

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

79,870,000,000

COP

21,548,358

B

,

7.25

%

,

10/18/34

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

148,699,000,000

COP

28,610,743

B

,

6.25

%

,

7/09/36

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

41,872,000,000

COP

7,281,660

B

,

9.25

%

,

5/28/42

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

206,416,000,000

COP

42,525,926

99,966,687

Egypt

2.7%

a

Egypt

Government

Bond

,

Senior

Bond

,

144A,

8.5

%

,

1/31/47

..

40,381,000

34,914,701

Senior

Bond

,

144A,

8.7

%

,

3/01/49

..

12,110,000

10,636,982

Senior

Bond

,

144A,

8.875

%

,

5/29/50

26,683,000

23,573,401

Senior

Bond

,

144A,

8.75

%

,

9/30/51

.

11,130,000

9,787,622

78,912,706

Ghana

1.3%

Ghana

Government

Bond

,

8.5

%

,

2/15/28

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

81,479,004

GHS

7,197,005

8.65

%

,

2/13/29

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

38,399,951

GHS

3,349,734

9.1

%

,

2/10/32

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

116,242,480

GHS

9,215,789

9.25

%

,

2/08/33

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

27,579,969

GHS

2,143,036

9.55

%

,

2/06/35

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

29,173,814

GHS

2,307,241

9.85

%

,

2/03/37

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

28,402,654

GHS

2,197,961

a

Senior

Bond

,

144A,

5

%

,

7/03/35

....

4,930,000

4,217,255

a

Senior

Bond

,

144A,

1.5

%

,

1/03/37

..

15,630,000

8,204,941

38,832,962

Greece

1.5%

a

Greece

Government

Bond

,

Senior

Bond

,

144A,

Reg

S,

4.25

%

,

6/15/33

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

17,701,000

EUR

21,462,635

Senior

Bond

,

144A,

Reg

S,

3.375

%

,

6/15/34

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

20,003,000

EUR

22,706,033

44,168,668

Templeton

Income

Trust

Schedule

of

Investments

(unaudited)

Templeton

Global

Bond

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

9

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

(continued)

India

7.7%

India

Government

Bond

,

7.26

%

,

1/14/29

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

1,800,960,000

INR

$

19,444,093

Senior

Bond

,

7.26

%

,

8/22/32

......

12,972,780,000

INR

139,000,143

Senior

Bond

,

7.18

%

,

8/14/33

......

4,011,300,000

INR

42,677,876

Senior

Bond

,

7.1

%

,

4/08/34

.......

456,210,000

INR

4,822,336

Senior

Bond

,

6.79

%

,

10/07/34

.....

1,097,100,000

INR

11,389,297

Senior

Note

,

7.1

%

,

4/18/29

.......

917,600,000

INR

9,881,458

227,215,203

Malaysia

9.4%

Malaysia

Government

Bond

,

3.9

%

,

11/30/26

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

128,309,000

MYR

31,868,037

3.892

%

,

3/15/27

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

19,290,000

MYR

4,802,277

3.502

%

,

5/31/27

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

30,640,000

MYR

7,602,699

3.899

%

,

11/16/27

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

691,620,000

MYR

172,963,579

4.498

%

,

4/15/30

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

97,744,000

MYR

25,139,335

3.582

%

,

7/15/32

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

134,410,000

MYR

33,277,175

275,653,102

Mexico

2.4%

Mexican

Bonos

Desarr

Fixed

Rate

,

M

,

8.5

%

,

3/01/29

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

852,180,000

MXN

47,657,197

M

,

Senior

Bond

,

8.5

%

,

5/31/29

.....

408,816,100

MXN

22,793,833

70,451,030

Norway

4.7%

a

Norway

Government

Bond

,

Senior

Bond

,

144A,

Reg

S,

1.75

%

,

2/17/27

.

1,383,486,000

NOK

139,738,001

Panama

4.6%

Panama

Government

Bond

,

Senior

Bond

,

2.252

%

,

9/29/32

.....

4,920,000

4,052,604

Senior

Bond

,

3.298

%

,

1/19/33

.....

2,130,000

1,863,004

Senior

Bond

,

6.4

%

,

2/14/35

.......

71,380,000

74,258,042

Senior

Bond

,

6.875

%

,

1/31/36

.....

2,790,000

2,972,452

Senior

Bond

,

8

%

,

3/01/38

........

45,980,000

52,755,153

135,901,255

Serbia

0.5%

Serbia

Treasury

Bonds

,

4.5

%

,

8/20/32

.

1,617,620,000

RSD

15,356,625

South

Africa

7.6%

South

Africa

Government

Bond

,

8.875

%

,

2/28/35

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

776,200,000

ZAR

45,108,233

8.5

%

,

1/31/37

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

1,241,135,000

ZAR

68,596,058

9

%

,

1/31/40

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

1,348,700,000

ZAR

74,933,035

8.75

%

,

1/31/44

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

659,639,000

ZAR

35,349,924

223,987,250

Spain

4.6%

a

Spain

Bonos

Y

Obligaciones

del

Estado

,

Senior

Bond

,

144A,

Reg

S,

3.55

%

,

10/31/33

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

53,058,000

EUR

62,462,100

Templeton

Income

Trust

Schedule

of

Investments

(unaudited)

Templeton

Global

Bond

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)

Spain

(continued)

a

Spain

Bonos

Y

Obligaciones

del

Estado,

(continued)

Senior

Bond

,

144A,

Reg

S,

3.15

%

,

4/30/35

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

63,830,000

EUR

$

72,257,417

134,719,517

Supranational

0.9%

a,b

European

Investment

Bank

,

Senior

Note

,

144A,

6.25

%

,

7/11/30

.......

1,840,800,000

INR

18,312,990

b

International

Bank

for

Reconstruction

&

Development

,

Senior

Note

,

6.89

%

,

2/06/30

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

789,000,000

INR

8,331,817

26,644,807

Uruguay

3.1%

c

Uruguay

Government

Bond

,

Index

Linked,

Senior

Bond

,

3.875

%

,

7/02/40

3,409,448,626

UYU

92,035,680

Total

Foreign

Government

and

Agency

Securities

(Cost

$

2,148,130,587

)

...........

2,176,987,208

U.S.

Government

and

Agency

Securities

3.2%

United

States

3.2%

U.S.

Treasury

Notes

,

3.5

%,

2/15/33

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

53,358,000

51,348,738

4.25

%,

11/15/34

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

44,776,600

44,772,227

96,120,965

Total

U.S.

Government

and

Agency

Securities

(Cost

$

97,505,027

)

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

96,120,965

Total

Long

Term

Investments

(Cost

$

2,245,635,614

)

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

2,273,108,173

Short

Term

Investments

21.3%

a

a

Industry

Shares

a

Value

a

a

a

a

a

a

Money

Market

Funds

21.3%

United

States

21.3%

d,e

Franklin

Institutional

U.S.

Government

Money

Market

Fund

,

3.578

%

......

629,951,002

629,951,002

Total

Money

Market

Funds

(Cost

$

629,951,002

)

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

629,951,002

a

a

a

a

a

Total

Short

Term

Investments

(Cost

$

629,951,002

)

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

629,951,002

a

a

a

Total

Investments

(Cost

$

2,875,586,616

)

98.3

%

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

$2,903,059,175

Other

Assets,

less

Liabilities

1.7

%

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

47,581,934

Net

Assets

100.0%

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

$2,950,641,109

a

a

a

Templeton

Income

Trust

Schedule

of

Investments

(unaudited)

Templeton

Global

Bond

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

11

At

March

31,

2026

,

the

Fund

had

the

following

forward

exchange

contracts

outstanding.

*

The

principal

amount

is

stated

in

U.S.

dollars

unless

otherwise

indicated.

a

Security

was

purchased

pursuant

to

Rule

144A

or

Regulation

S

under

the

Securities

Act

of

1933.

144A

securities

may

be

sold

in

transactions

exempt

from

registration

only

to

qualified

institutional

buyers

or

in

a

public

offering

registered

under

the

Securities

Act

of

1933.

Regulation

S

securities

cannot

be

sold

in

the

United

States

without

either

an

effective

registration

statement

filed

pursuant

to

the

Securities

Act

of

1933,

or

pursuant

to

an

exemption

from

registration.

At

March

31,

2026,

the

aggregate

value

of

these

securities

was

$591,611,414,

representing

20.1%

of

net

assets.

b

A

supranational

organization

is

an

entity

formed

by

two

or

more

central

governments

through

international

treaties.

c

Principal

amount

of

security,

redemption

price

at

maturity,

and/or

coupon

payments

are

adjusted

for

inflation.

d

See

Note

3

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

Dinar

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

DBAB

Sell

2,081,824,379

20,358,150

4/01/26

$

—

$

(

121,162

)

Serbian

Dinar

......

DBAB

Buy

2,081,824,379

20,780,009

4/01/26

—

(

300,697

)

Mexican

Peso

......

BNDP

Buy

1,486,400,000

79,281,009

4/07/26

3,616,852

—

Euro

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

MSCO

Sell

17,902,820

212,120,000

NOK

4/13/26

1,202,058

—

Chinese

Yuan

......

HSBK

Sell

547,251,250

78,876,241

4/15/26

—

(

659,967

)

Japanese

Yen

......

BNDP

Buy

6,286,725,520

42,102,368

4/16/26

—

(

2,437,373

)

Japanese

Yen

......

MSCO

Buy

37,601,508,000

249,203,099

5/07/26

—

(

11,483,733

)

Chinese

Yuan

......

JPHQ

Sell

259,117,222

36,826,301

5/21/26

—

(

929,256

)

Mexican

Peso

......

BNDP

Buy

328,304,649

17,632,397

6/10/26

573,553

—

Mexican

Peso

......

HSBK

Buy

228,255,820

12,260,744

6/10/26

397,054

—

South

Korean

Won

..

DBAB

Buy

121,370,556,000

82,377,273

6/17/26

—

(

1,517,296

)

South

Korean

Won

..

HSBK

Buy

196,242,900,000

132,901,869

6/17/26

—

(

2,160,139

)

South

Korean

Won

..

JPHQ

Buy

16,182,300,000

10,962,875

6/17/26

—

(

181,839

)

Thai

Baht

.........

HSBK

Sell

1,245,120,500

38,044,387

7/02/26

1,762

—

Euro

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

BNDP

Sell

14,068,000

16,548,160

7/14/26

212,818

—

Euro

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

BOFA

Sell

28,963,456

34,067,831

7/14/26

436,330

—

Euro

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

BZWS

Sell

33,872,544

39,796,852

7/16/26

462,140

—

Euro

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

JPHQ

Sell

33,876,000

39,805,655

7/16/26

466,930

—

Serbian

Dinar

......

DBAB

Buy

896,483,143

8,843,499

7/20/26

—

(

44,386

)

Chinese

Yuan

......

MSCO

Sell

1,102,153,000

159,911,698

7/27/26

—

(

1,416,333

)

Japanese

Yen

......

MSCO

Buy

2,362,790,000

15,587,321

7/27/26

—

(

553,647

)

Thai

Baht

.........

HSBK

Sell

893,297,500

27,174,614

8/03/26

—

(

195,573

)

Serbian

Dinar

......

DBAB

Buy

2,253,654,000

22,608,889

8/05/26

—

(

498,503

)

Japanese

Yen

......

MSCO

Buy

34,157,438,800

220,870,738

8/10/26

—

(

3,288,434

)

Mexican

Peso

......

BNDP

Buy

903,398,478

51,817,604

8/31/26

—

(

2,077,976

)

Mexican

Peso

......

HSBK

Buy

1,139,725,665

65,354,990

8/31/26

—

(

2,603,576

)

Serbian

Dinar

......

DBAB

Buy

1,097,715,000

10,784,114

9/10/26

—

(

25,012

)

Serbian

Dinar

......

DBAB

Buy

3,134,972,506

30,699,837

9/16/26

22,176

—

Japanese

Yen

......

MSCO

Buy

37,601,507,000

239,914,470

9/17/26

351,978

—

Chinese

Yuan

......

HSBK

Sell

212,237,000

31,111,583

9/30/26

—

(

99,635

)

Serbian

Dinar

......

DBAB

Buy

2,081,824,379

20,270,929

10/01/26

121,915

—

Thai

Baht

.........

CITI

Sell

1,419,406,000

43,479,377

10/02/26

—

(

239,123

)

Thai

Baht

.........

HSBK

Sell

1,238,788,000

38,044,445

10/02/26

—

(

110,919

)

Total

Forward

Exchange

Contracts

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

$7,865,566

$(30,944,579)

Net

unrealized

appreciation

(depreciation)

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

$(23,079,013)

*

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

Bond

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

12

At

March

31,

2026

,

the

Fund

had

the

following interest

rate swap

contracts

outstanding.

See

Abbreviations

on

page

21

.

Interest

Rate

Swap

Contracts

Description

Payment

Frequency

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

169,510,000

$

(

5,995,033

)

$

—

$

(

5,995,033

)

Total

Interest

Rate

Swap

Contracts

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

$(5,995,033)

$

—

$(5,995,033)

*

In

U.S.

dollars

unless

otherwise

indicated.

Templeton

Income

Trust

Schedule

of

Investments

(unaudited),

March

31,

2026

Templeton

Sustainable

Emerging

Markets

Bond

Fund

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

13

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Corporate

Bonds

0.0%

South

Africa

0.0%

a

,b

,c

K2016470219

South

Africa

Ltd.

,

Senior

Secured

Note

,

144A,

3

%

,

12/31/22

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

Broadline

Retail

188,190

$

—

Senior

Secured

Note

,

144A,

8

%

,

12/31/22

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

Broadline

Retail

55,416

EUR

—

a

,b

,c

K2016470260

South

Africa

Ltd.

,

Senior

Secured

Note

,

144A,

25

%

,

12/31/22

.

Broadline

Retail

237,804

—

—

Total

Corporate

Bonds

(Cost

$

301,035

)

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

—

a

a

Industry

Principal

Amount

*

a

Value

Foreign

Government

and

Agency

Securities

84.4%

Benin

2.5%

c

Benin

Government

Bond

,

Senior

Bond

,

144A,

4.95

%

,

1/22/35

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

580,000

EUR

591,250

Brazil

13.4%

Brazil

Notas

do

Tesouro

Nacional

,

10

%

,

1/01/33

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

4,370,000

BRL

709,258

10

%

,

1/01/35

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

15,150,000

BRL

2,384,772

3,094,030

Chile

2.4%

c

Chile

Bonos

Tesoreria

Pesos

,

144A,

Reg

S,

6

%

,

4/01/33

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

495,000,000

CLP

547,112

Colombia

4.2%

Colombia

Titulos

de

Tesoreria

,

G

,

7

%

,

3/26/31

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

4,640,500,000

COP

974,487

Ecuador

2.4%

c

Ecuador

Government

Bond

,

Senior

Bond

,

144A,

6.9

%

,

7/31/35

........

620,300

547,837

Egypt

1.1%

Egypt

Government

Bond

,

25.151

%

,

4/16/27

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

4,300,000

EGP

79,311

21.762

%

,

2/17/28

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

10,090,000

EGP

181,100

260,411

Ghana

0.9%

Ghana

Government

Bond

,

8.35

%

,

2/16/27

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

525,742

GHS

47,644

8.5

%

,

2/15/28

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

512,826

GHS

45,298

8.65

%

,

2/13/29

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

625,144

GHS

54,533

9.1

%

,

2/10/32

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

536,359

GHS

42,523

9.25

%

,

2/08/33

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

151,008

GHS

11,734

9.55

%

,

2/06/35

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

6,300

GHS

498

9.85

%

,

2/03/37

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

5,405

GHS

418

202,648

Ivory

Coast

2.6%

c

Ivory

Coast

Government

Bond

,

Senior

Note

,

144A,

7.625

%

,

1/30/33

......

600,000

611,304

Templeton

Income

Trust

Schedule

of

Investments

(unaudited)

Templeton

Sustainable

Emerging

Markets

Bond

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

14

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

(continued)

Mexico

4.7%

Mexican

Bonos

Desarr

Fixed

Rate

,

Senior

Bond

,

8

%

,

5/24/35

........

17,430,000

MXN

$

893,281

Mexico

Government

Bond

,

Senior

Bond

,

4.875

%

,

5/19/33

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

200,000

189,750

1,083,031

Namibia

9.6%

Namibia

Government

Bond

,

9.5

%

,

7/15/35

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

12,610,000

NAD

692,022

9.5

%

,

7/15/37

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

29,280,000

NAD

1,538,721

2,230,743

Panama

4.4%

Panama

Government

Bond

,

Senior

Bond

,

6.875

%

,

1/31/36

.....

530,000

564,659

Senior

Bond

,

8

%

,

3/01/38

........

400,000

458,940

1,023,599

Peru

1.9%

c

Peru

Government

Bond

,

Senior

Bond

,

144A,

Reg

S,

7.6

%

,

8/12/39

.......

1,460,000

PEN

434,100

Poland

4.5%

Poland

Government

Bond

,

5

%

,

10/25/34

4,035,000

PLN

1,035,191

Serbia

9.3%

Serbia

Treasury

Bonds

,

4.5

%

,

8/20/32

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

174,520,000

RSD

1,656,779

5.25

%

,

7/27/35

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

51,160,000

RSD

503,296

2,160,075

Supranational

20.5%

d

Asian

Development

Bank

,

Senior

Note

,

20

%

,

4/16/26

........

363,000,000

NGN

262,957

Senior

Note

,

6.72

%

,

2/08/28

......

130,510,000

INR

1,348,082

d

European

Bank

for

Reconstruction

&

Development

,

20.25

%

,

7/24/26

....

600,000,000

NGN

431,913

c

,d

European

Investment

Bank

,

Senior

Bond

,

Reg

S,

6.5

%

,

9/28/32

.

4,770,000

ZAR

260,194

Senior

Bond

,

144A,

6.875

%

,

2/28/35

78,600,000

INR

774,678

d

International

Bank

for

Reconstruction

&

Development

,

Senior

Bond

,

7.07

%

,

6/26/29

......

10,400,000

MXN

558,761

Senior

Note

,

10

%

,

9/16/26

........

161,000,000

KZT

326,261

Senior

Note

,

14.5

%

,

4/25/28

......

106,000,000

KZT

217,278

d

International

Finance

Corp.

,

Senior

Note

,

13.825

%

,

10/09/26

.........

6,600,000,000

UZS

557,725

4,737,849

Total

Foreign

Government

and

Agency

Securities

(Cost

$

19,120,975

)

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

19,533,667

Templeton

Income

Trust

Schedule

of

Investments

(unaudited)

Templeton

Sustainable

Emerging

Markets

Bond

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

15

a

a

Industry

Shares

a

Value

a

a

a

a

a

a

Escrows

and

Litigation

Trusts

0.0%

†

a,e

K2016470219

South

Africa

Ltd.,

Escrow

Account

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

12,498

$

195

Total

Escrows

and

Litigation

Trusts

(Cost

$

–

)

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

195

Total

Long

Term

Investments

(Cost

$

19,422,010

)

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

19,533,862

Short

Term

Investments

10.1%

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

6.2%

Egypt

6.2%

f

Egypt

Treasury

Bills

,

23

.888

%

,

4/07/26

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

10,625,000

EGP

194,510

22

.841

%

,

4/14/26

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

7,300,000

EGP

133,172

22

.766

%

,

6/16/26

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

8,425,000

EGP

147,279

21

.759

%

,

6/23/26

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

2,600,000

EGP

45,244

22

.58

%

,

7/07/26

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

30,975,000

EGP

534,610

21

.661

%

,

7/14/26

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

8,600,000

EGP

148,137

21

.605

%

,

8/18/26

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

1,275,000

EGP

21,477

23

.374

%

,

9/22/26

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

6,400,000

EGP

105,451

21

.916

%

,

10/13/26

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

4,075,000

EGP

66,270

20

.901

%

,

1/12/27

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

3,150,000

EGP

48,567

1,444,717

Total

Foreign

Government

and

Agency

Securities

(Cost

$

1,621,378

)

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

1,444,717

Shares

Money

Market

Funds

3.9%

United

States

3.9%

g,h

Franklin

Institutional

U.S.

Government

Money

Market

Fund

,

3.578

%

......

895,331

895,331

Total

Money

Market

Funds

(Cost

$

895,331

)

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

895,331

a

a

a

a

a

Total

Short

Term

Investments

(Cost

$

2,516,709

)

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

2,340,048

a

a

a

Total

Investments

(Cost

$

21,938,719

)

94.5

%

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

$21,873,910

Other

Assets,

less

Liabilities

5.5

%

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

1,258,022

Net

Assets

100.0%

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

$23,131,932

a

a

a

*

The

principal

amount

is

stated

in

U.S.

dollars

unless

otherwise

indicated.

†

Rounds

to

less

than

0.1%

of

net

assets.

a

Fair

valued

using

significant

unobservable

inputs.

See

Note

4

regarding

fair

value

measurements.

b

Defaulted

security

or

security

for

which

income

has

been

deemed

uncollectible.

c

Security

was

purchased

pursuant

to

Rule

144A

or

Regulation

S

under

the

Securities

Act

of

1933.

144A

securities

may

be

sold

in

transactions

exempt

from

registration

only

to

qualified

institutional

buyers

or

in

a

public

offering

registered

under

the

Securities

Act

of

1933.

Regulation

S

securities

cannot

be

sold

in

the

United

States

without

either

an

effective

registration

statement

filed

pursuant

to

the

Securities

Act

of

1933,

or

pursuant

to

an

exemption

from

registration.

At

March

31,

2026,

the

aggregate

value

of

these

securities

was

$3,766,475,

representing

16.3%

of

net

assets.

d

A

supranational

organization

is

an

entity

formed

by

two

or

more

central

governments

through

international

treaties.

e

Non-income

producing.

f

The

rate

shown

represents

the

yield

at

period

end.

g

See

Note

3

regarding

investments

in

affiliated

management

investment

companies.

h

The

rate

shown

is

the

annualized

seven-day

effective

yield

at

period

end.

Templeton

Income

Trust

Schedule

of

Investments

(unaudited)

Templeton

Sustainable

Emerging

Markets

Bond

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

16

At

March

31,

2026,

the

Fund

had

the

following

forward

exchange

contracts

outstanding.

At

March

31,

2026,

the

Fund

had

the

following interest

rate swap

contracts

outstanding.

See

Abbreviations

on

page

21.

Forward

Exchange

Contracts

Currency

Counter-

party

a

Type

Quantity

Contract

Amount

*

Settlement

Date

Unrealized

Appreciation

Unrealized

Depreciation

a

a

a

a

a

a

a

a

OTC

Forward

Exchange

Contracts

Brazilian

Real

......

JPHQ

Buy

1,092,685

191,808

4/02/26

$

19,141

$

—

Brazilian

Real

......

JPHQ

Sell

1,092,685

208,428

4/02/26

—

(

2,521

)

Mexican

Peso

......

BNDP

Buy

620,189

33,309

6/10/26

1,083

—

Mexican

Peso

......

HSBK

Buy

3,612,000

194,018

6/10/26

6,283

—

South

Korean

Won

..

CITI

Buy

548,000,000

375,801

6/17/26

—

(

10,710

)

South

Korean

Won

..

DBAB

Buy

274,000,000

185,971

6/17/26

—

(

3,425

)

Malaysian

Ringgit

...

GSCO

Buy

1,930,000

492,799

6/18/26

—

(

15,025

)

Malaysian

Ringgit

...

MSCO

Buy

9,860,000

2,418,700

6/18/26

22,161

—

Brazilian

Real

......

JPHQ

Buy

1,092,685

204,215

7/02/26

2,423

—

Thai

Baht

.........

HSBK

Sell

4,925,000

150,482

7/02/26

7

—

Malaysian

Ringgit

...

GSCO

Buy

1,730,000

440,032

7/22/26

—

(

11,391

)

Thai

Baht

.........

HSBK

Sell

3,533,000

107,476

8/03/26

—

(

773

)

Mexican

Peso

......

BNDP

Buy

1,706,454

97,880

8/31/26

—

(

3,925

)

Mexican

Peso

......

HSBK

Buy

3,573,998

204,943

8/31/26

—

(

8,164

)

Thai

Baht

.........

CITI

Sell

5,615,000

171,999

10/02/26

—

(

946

)

Thai

Baht

.........

HSBK

Sell

4,900,000

150,484

10/02/26

—

(

439

)

Uruguayan

Peso

....

CITI

Buy

10,200,000

251,821

10/15/26

—

(

3,985

)

Uruguayan

Peso

....

CITI

Buy

45,360,000

1,089,450

10/19/26

12,347

—

Uruguayan

Peso

....

HSBK

Buy

7,600,000

182,363

10/19/26

2,241

—

Total

Forward

Exchange

Contracts

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

$65,686

$(61,304)

Net

unrealized

appreciation

(depreciation)

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

$4,382

*

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

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

$

(

70,585

)

$

—

$

(

70,585

)

Total

Interest

Rate

Swap

Contracts

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

$(70,585)

$

—

$(70,585)

*

In

U.S.

dollars

unless

otherwise

indicated.

Templeton

Income

Trust

17

Quarterly

Schedules

of

Investments

Notes

to

Schedules

of

Investments

(unaudited)

1.

Organization

Templeton

Income

Trust (Trust)

is

registered

under

the

Investment

Company

Act

of

1940

(1940

Act)

as

an

open-end

management

investment

company,

consisting

of three

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. 

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.

Derivative

financial

instruments

listed

on

an

exchange

are

valued

at

the

official

closing

price

of

the

day.

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

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

Templeton

Income

Trust

Notes

to

Schedules

of

Investments

(unaudited)

18

Quarterly

Schedules

of

Investments

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.

Investments

in

Affiliated

Management

Investment

Companies

Certain

or

all

Funds

invest

in

one

or

more

affiliated

management

investment

companies.

As

defined

in

the

1940

Act,

an

investment

is

deemed

to

be

a

“Controlled

Affiliate”

of

a

fund

when

a

fund

owns,

either

directly

or

indirectly,

25%

or

more

of

the

affiliated

fund’s

outstanding

shares

or

has

the

power

to

exercise

control

over

management

or

policies

of

such

fund.

The

Funds

do

not

invest

for

purposes

of

exercising

a

controlling

influence

over

the

management

or

policies.

During

the

period

ended

March

31,

2026,

investments

in

affiliated

management

investment

companies

were

as

follows: 

    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

Enhanced

Fund

Non-Controlled

Affiliates

Dividends

Franklin

Institutional

U.S.

Government

Money

Market

Fund,

3.578%

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

$10,360,405

$18,323,060

$(17,797,713)

$—

$—

$10,885,752

10,885,752

$118,283

Total

Affiliated

Securities

...

$10,360,405

$18,323,060

$(17,797,713)

$—

$—

$10,885,752

$118,283

Templeton

Global

Bond

Fund

Non-Controlled

Affiliates

Dividends

Franklin

Institutional

U.S.

Government

Money

Market

Fund,

3.578%

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

$488,003,039

$267,082,184

$(125,134,221)

$—

$—

$629,951,002

629,951,002

$5,153,176

Total

Affiliated

Securities

...

$488,003,039

$267,082,184

$(125,134,221)

$—

$—

$629,951,002

$5,153,176

Templeton

Sustainable

Emerging

Markets

Bond

Fund

Non-Controlled

Affiliates

Dividends

Franklin

Institutional

U.S.

Government

Money

Market

Fund,

3.578%

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

$1,078,828

$5,646,064

$(5,829,561)

$—

$—

$895,331

895,331

$14,883

Total

Affiliated

Securities

...

$1,078,828

$5,646,064

$(5,829,561)

$—

$—

$895,331

$14,883

2. Financial

Instrument

Valuation

(continued)

Templeton

Income

Trust

Notes

to

Schedules

of

Investments

(unaudited)

19

Quarterly

Schedules

of

Investments

4. Fair

Value

Measurements

The Funds

follow

a

fair

value

hierarchy

that

distinguishes

between

market

data

obtained

from

independent

sources

(observable

inputs)

and

the Funds'

own

market

assumptions

(unobservable

inputs).

These

inputs

are

used

in

determining

the

value

of

the Funds' financial

instruments

and

are

summarized

in

the

following

fair

value

hierarchy:

Level

1

–

quoted

prices

in

active

markets

for

identical

financial

instruments

Level

2

–

other

significant

observable

inputs

(including

quoted

prices

for

similar

financial

instruments,

interest

rates,

prepayment

speed,

credit

risk,

etc.)

Level

3

–

significant

unobservable

inputs

(including

the Funds'

own

assumptions

in

determining

the

fair

value

of

financial

instruments)

The

input

levels

are

not

necessarily

an

indication

of

the

risk

or

liquidity

associated

with

financial

instruments

at

that

level.

A

summary

of

inputs

used

as

of

March

31,

2026,

in

valuing

the

Funds'

assets

and

liabilities carried

at

fair

value,

is

as

follows:

Level

1

Level

2

Level

3

Total

Templeton

Global

Bond

Enhanced

Fund

Assets:

Investments

in

Securities:

a

Corporate

Bonds

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

$

—

$

—

$

—

b

$

—

Foreign

Government

and

Agency

Securities

....

—

161,280,677

—

161,280,677

U.S.

Government

and

Agency

Securities

.......

—

14,209,711

—

14,209,711

Escrows

and

Litigation

Trusts

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

—

—

33,779

33,779

Short

Term

Investments

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

10,885,752

9,862,345

—

20,748,097

Total

Investments

in

Securities

...........

$10,885,752

$185,352,733

$33,779

$196,272,264

Other

Financial

Instruments:

Forward

Exchange

Contracts

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

$—

$676,295

$—

$676,295

Total

Other

Financial

Instruments

.........

$—

$676,295

$—

$676,295

Liabilities:

Other

Financial

Instruments:

Forward

Exchange

Contracts

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

$—

$2,881,723

$—

$2,881,723

Swap

Contracts

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

—

174,005

—

174,005

Total

Other

Financial

Instruments

.........

$—

$3,055,728

$—

$3,055,728

Templeton

Global

Bond

Fund

Assets:

Investments

in

Securities:

a

Foreign

Government

and

Agency

Securities

....

—

2,176,987,208

—

2,176,987,208

U.S.

Government

and

Agency

Securities

.......

—

96,120,965

—

96,120,965

Short

Term

Investments

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

629,951,002

—

—

629,951,002

Total

Investments

in

Securities

...........

$629,951,002

$2,273,108,173

$—

$2,903,059,175

Other

Financial

Instruments:

Forward

Exchange

Contracts

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

$—

$7,865,566

$—

$7,865,566

Total

Other

Financial

Instruments

.........

$—

$7,865,566

$—

$7,865,566

Liabilities:

Other

Financial

Instruments:

Forward

Exchange

Contracts

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

$—

$30,944,579

$—

$30,944,579

Swap

Contracts

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

—

5,995,033

—

5,995,033

Total

Other

Financial

Instruments

.........

$—

$36,939,612

$—

$36,939,612

Templeton

Income

Trust

Notes

to

Schedules

of

Investments

(unaudited)

20

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.

Level

1

Level

2

Level

3

Total

Templeton

Sustainable

Emerging

Markets

Bond

Fund

Assets:

Investments

in

Securities:

a

Corporate

Bonds

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

$

—

$

—

$

—

b

$

—

Foreign

Government

and

Agency

Securities

....

—

19,533,667

—

19,533,667

Escrows

and

Litigation

Trusts

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

—

—

195

195

Short

Term

Investments

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

895,331

1,444,717

—

2,340,048

Total

Investments

in

Securities

...........

$895,331

$20,978,384

$195

$21,873,910

Other

Financial

Instruments:

Forward

Exchange

Contracts

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

$—

$65,686

$—

$65,686

Total

Other

Financial

Instruments

.........

$—

$65,686

$—

$65,686

Liabilities:

Other

Financial

Instruments:

Forward

Exchange

Contracts

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

$

—

$

61,304

$

—

$

61,304

Swap

Contracts

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

—

70,585

—

70,585

Total

Other

Financial

Instruments

.........

$—

$131,889

$—

$131,889

a

For

detailed

categories,

see

the

accompanying

Schedule

of

Investments.

b

Includes

financial

instruments

determined

to

have

no

value.

4. Fair

Value

Measurements

(continued)

Templeton

Income

Trust

Notes

to

Schedules

of

Investments

(unaudited)

21

Quarterly

Schedules

of

Investments

Abbreviations

Counterparty

BNDP

BNP

Paribas

SA

BOFA

Bank

of

America

NA

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

CLP

Chilean

Peso

COP

Colombian

Peso

EGP

Egyptian

Pound

EUR

Euro

GHS

Ghanaian

Cedi

INR

Indian

Rupee

KZT

Kazakhstani

Tenge

MXN

Mexican

Peso

MYR

Malaysian

Ringgit

NAD

Namibian

Dollar

NGN

Nigerian

Naira

NOK

Norwegian

Krone

PEN

Peruvian

Nuevo

Sol

PLN

Polish

Zloty

RSD

Serbian

Dinar

UYU

Uruguayan

Peso

UZS

Uzbekistani

Som

ZAR

South

African

Rand

Selected

Portfolio

CDI

certificado

de

deposito

interbancario

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

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

14.65%

1-day

SOFR

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

3.68%

For

additional

information

on

the

Funds'

significant

accounting

policies,

please

refer

to

the Funds'

most

recent

semiannual

or

annual

shareholder

report.